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STOCK COMPARISON

Thermo Fisher Scientific vs Danaher: Fair Value & Quality

Both stocks run through our valuation models. Here is how Thermo Fisher Scientific (TMO) and Danaher (DHR) compare, as of Aug 8, 2026.

As of Aug 8, 2026, Fair Value Calculator sees Thermo Fisher Scientific as the less overvalued of the two: Thermo Fisher Scientific trades at $580 versus a fair value of $308 (-47%), while Danaher trades at $200 versus $104 (-48%).
Thermo Fisher Scientific
TMO · USD · Health Care
-47%
upside to fair value
overvalued
Price$580
Fair Value$308
Quality64/100
Danaher
DHR · USD · Health Care
-48%
upside to fair value
overvalued
Price$200
Fair Value$104
Quality67/100

Head-to-head numbers

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

Thermo Fisher ScientificDanaher
Valuation
29.5×P/E (TTM)38.6×
4.41×P/S (TTM)5.69×
3.74×P/B2.68×
20.0×EV/EBITDA19.5×
1.74×PEG1.27×
0.3%Dividend yield0.7%
$1.76Dividend per share$1.36
Profitability
15%Net margin15%
18%Operating margin23%
14%Return on equity7%
5%Return on assets4%
Growth
6%Revenue growth (YoY)4%
-0.3%Avg. growth/yr (3Y)-2.7%
6.7%Avg. growth/yr (5Y)2.0%
Balance & size
0.67×Debt / equity0.35×
$199BMarket cap$141B
healthyGrowth qualityhealthy

Thermo Fisher Scientific leads: 8 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.

Thermo Fisher Scientificof which business quality 60 · market factors 63 Danaherof which business quality 70 · market factors 50
ProfitabilityMargins and returns on capital today
43
37
Quality GrowthAre margins and returns improving?
31
41
CashflowEarnings quality: real cash, not paper profit
62
85
Fin. StrengthBalance sheet, leverage, solvency risk
60
79
InvestmentDisciplined investing over empire-building
79
92
Low VolatilityCalm price path (market factor)
68
70
MomentumPrice trend over the last 3–12 months (market factor)
56
42
52W MomentumDistance to the 52-week high (market factor)
68
42
Net IssuanceBuybacks instead of dilution
97
98

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Thermo Fisher Scientific

DCF Models$331
Earnings-Based$203
Multiples$310
Asset-Based$96.29
Growth DCF$288
Economic Profit$159
Growth Earnings$324

24 of 24 models see the stock below the current price.

Danaher

DCF Models$117
Earnings-Based$50.84
Dividend Discount$21.83
Multiples$94.46
Asset-Based$49.73
Growth DCF$114
Economic Profit$57.11
Growth Earnings$85.06

26 of 26 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.

Thermo Fisher Scientific
Bear $175Fair Value $308Bull $385
$580 = current price (white tick)
Danaher
Bear $65.48Fair Value $104Bull $135
$200 = 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.

Thermo Fisher Scientific · Health Care

Quality score64 · Top 25%
Fair value upside-47% · below median

Danaher · Health Care

Quality score67 · Top 25%
Fair value upside-48% · below median

Bottom line

As of Aug 8, 2026, Fair Value Calculator sees Thermo Fisher Scientific as the less overvalued of the two: Thermo Fisher Scientific trades at $580 versus a fair value of $308 (-47%), while Danaher trades at $200 versus $104 (-48%).

Danaher has the higher quality score (67/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.