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TMO

Thermo Fisher Scientific Inc

NYSE: TMO · HEALTHCARE · DIAGNOSTICS & RESEARCH

$478.96
+2.72% today

Updated 2026-04-29

Market cap
$174.55B
P/E ratio
25.84
P/S ratio
3.86x
EPS (TTM)
$18.18
Dividend yield
0.38%
52W range
$384 – $643
Volume
2.0M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Thermo Fisher Scientific Inc (TMO) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$478.96
Consensus
$639.83
+33.59%
2030 Target
$2,064.13
+330.96%
DCF
$407.91
-14.31% MoS
19 analysts:
12 Buy1 Hold0 Sell

Management guidance

No specific revenue targets for 2026-2030 found in available earnings calls or investor communications. CEO Marc Casper has emphasized strategic acquisitions (Clario $8.9B completed March 2026) and organic growth initiatives in cell therapy, biologics, and cryo-EM platforms. Company targets mid-single digit organic growth with margin expansion through operational excellence and high-value service integration.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$3,440.22
$64.5B Rev × 20x P/S
Base case (2030)
$2,064.13
$64.5B Rev × 12x P/S
Bear case (2030)
$1,376.09
$64.5B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$42.9B$42.9B$44.6B$49.7B$49.7B$56.2B$60.1B$64.5B
Revenue growth—0.1%3.9%11.6%5.1%6.4%7.0%7.3%
EPS$21.54$21.86$22.87$24.80$27.07$30.40$33.80$37.50
P/S ratio———12.0x18.2x12.0x12.0x12.0x
Implied price———$1,572.67$632.00$1,818.40$1,916.69$2,064.13

Catalysts & risks

Growth catalysts
+ Clario acquisition ($8.9B, completed March 2026) - expands clinical trials and drug development services revenue by estimated $1.5-2B annually
+ Gibco CHOvantage GS Cell Line Development Kit launch - addresses $8-10B biologics manufacturing market with high-margin recurring licensing
+ Glacios 3 Cryo-TEM with AI integration - positions TMO in $2B+ structural biology market with 12-15% annual growth
+ SHL Medical integrated autoinjector/fill-finish hub partnership - adds $400-600M high-margin services revenue stream
+ Cell therapy manufacturing systems (CTS Compleo) - $3-5B TAM with 20%+ CAGR through 2030
+ Organic growth acceleration in biopharma services amid increased drug development spending
Key risks
- Integration execution risk on $8.9B Clario acquisition - if synergy realization delays or underperforms
- Macro slowdown in pharma/biotech R&D spending - TMO highly exposed to customer capex cycles
- Competitive pressures from Danaher, IQVIA, and regional players in clinical trials and biopharma services
- Tariff and regulatory policy changes impacting manufacturing costs and margins
- Reliance on high-multiple acquisitions for growth - organic growth decelerating (3.91% TTM)
- Patent expirations and commoditization in core diagnostics/reagents business

Methodology

Thermo Fisher Scientific Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 19 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.