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STOCK COMPARISON

Amgen vs Thermo Fisher Scientific: Fair Value & Quality

Both stocks run through our valuation models. Here is how Amgen (AMGN) and Thermo Fisher Scientific (TMO) compare, as of Sep 4, 2026.

As of Sep 4, 2026, Fair Value Calculator sees Amgen as the less overvalued of the two: Amgen trades at $444 versus a fair value of $252 (-43%), while Thermo Fisher Scientific trades at $618 versus $308 (-50%).
Amgen
AMGN · USD · Health Care
-43%
upside to fair value
overvalued
Price$444
Fair Value$252
Quality63/100
Thermo Fisher Scientific
TMO · USD · Health Care
-50%
upside to fair value
overvalued
Price$618
Fair Value$308
Quality64/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

AmgenThermo Fisher Scientific
Valuation
25.3×P/E (TTM)29.5×
5.27×P/S (TTM)4.41×
22.65×P/B3.74×
14.0×EV/EBITDA20.0×
2.02×PEG1.74×
−43.3%Fair value upside−50.2%
2.2%Dividend yield0.3%
$9.66Dividend per share$1.76
Profitability
34%Operating margin18%
0.81×EBIT margin trend (5Y)0.74×
101%Return on equity14%
8%Return on assets5%
Growth
6%Revenue growth (YoY)6%
11.8%Avg. growth/yr (3Y)-0.3%
7.6%Avg. growth/yr (5Y)6.7%
+2.0%Value creation/yr+2.6%
Balance & size
3.9×Interest coverage (EBIT/interest)5.7×
5.78×Debt / equity0.67×
$196BMarket cap$199B
healthyGrowth qualityhealthy

Amgen leads: 9 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Amgenof which business quality 60 · market factors 87 Thermo Fisher Scientificof which business quality 60 · market factors 71
ProfitabilityMargins and returns on capital today
64
43
Quality GrowthAre margins and returns improving?
79
31
CashflowEarnings quality: real cash, not paper profit
78
62
Fin. StrengthBalance sheet, leverage, solvency risk
20
60
InvestmentDisciplined investing over empire-building
42
79
Low VolatilityCalm price path (market factor)
86
69
MomentumPrice trend over the last 3–12 months (market factor)
80
68
52W MomentumDistance to the 52-week high (market factor)
100
77
Net IssuanceBuybacks instead of dilution
81
97

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAmgenPrice $444Thermo Fisher ScientificPrice $618
DCF Models-38%below the price$275-43%below the price$354
Earnings-Based-66%below the price$151-67%below the price$203
Dividend Discount-62%below the price$167n/a
Multiples-44%below the price$249-50%below the price$308
Asset-Based-98%below the price$10.75-84%below the price$96.29
Growth DCF-52%below the price$214-53%below the price$288
Economic Profit-71%below the price$129-74%below the price$159
Growth Earnings-41%below the price$261-45%below the price$341
Minimum-98%below the price$10.75-84%below the price$96.29
Maximum-38%below the price$275-43%below the price$354
Median-57%below the price$190-53%below the price$288
Geometric mean-69%below the price$138-63%below the price$229

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Amgen: 26 of 26 models see the stock below the current price.

Thermo Fisher Scientific: 24 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Amgen
Bear $135Fair Value $252Bull $340
$444 = current price (white tick)
Thermo Fisher Scientific
Bear $171Fair Value $308Bull $385
$618 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Amgen · Health Care

Quality score63 · Top 25%
Fair value upside-43% · below median

Thermo Fisher Scientific · Health Care

Quality score64 · Top 25%
Fair value upside-50% · below median

Bottom line

As of Sep 4, 2026, Fair Value Calculator sees Amgen as the less overvalued of the two: Amgen trades at $444 versus a fair value of $252 (-43%), while Thermo Fisher Scientific trades at $618 versus $308 (-50%).

Thermo Fisher Scientific has the higher quality score (64/100).

See the full analysis →
Amgen · Thermo Fisher Scientific

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.