Thermo Fisher Scientific Inc. Financial Ratios — TMO Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	20.6	15.46	14.78	19	16.9	15.04	14.5	16.57	17.75	24.96	23.98	17.77	13.3	12.5	11.85
Return on Assets (%)	5.52	4.34	4.29	5.07	4.72	4.66	4.34	5.2	6.45	10.01	9.41	7.23	6.12	6.46	6.46
Return on Capital (%)	13.48	9.65	8.77	10.36	- -	- -	8.1	9.38	10.99	15.15	13.51	10.28	9.19	9.05	8.69
Return on Invested Capital (%)	6.16	6.96	6.57	5.54	- -	- -	6.63	7.44	8.1	13.47	13.57	10.05	8.73	8.62	8.65
Gross Margin (%)	41.47	42.33	42.24	44.36	45.72	45.81	45.17	44.57	44.35	49.67	50.08	42.24	39.9	41.28	40.93
EBITDA Margin (%)	19.09	20.37	20.53	21.25	24.4	24.11	24.33	25.04	25.28	31.72	32.69	26.47	25.02	25.25	24.44
Operating Margin (%)	11.66	12.5	12.89	11.28	14.45	14.49	14.61	15.74	16.37	24.5	26.08	18.94	17.08	18	18.2
Incremental Operating Margin (%)	8.49	22.81	21.21	5.72	725.73	14.9	15.51	22.56	29.39	55.6	33.35	-30.12	57.77	1,813.64	23.42
Pretax Margin (%)	9.8	10.15	10.08	12.36	11.41	11.08	11.61	13.39	15.94	22.44	22.55	17.44	14.7	16.41	16.4
Profit Margin (%)	11.51	9.42	9.73	11.22	11.64	11.06	10.64	12.06	14.47	19.79	19.7	15.47	13.99	14.77	15.05
Net Income to Common Margin (%)	11.51	9.42	9.73	11.22	11.64	11.06	10.64	12.06	14.47	19.79	19.7	15.47	13.99	14.77	15.05
Effective Tax Rate (%)	9.66	0.87	3.06	9.18	- -	- -	8.28	9.93	9.18	11.76	12.54	8.97	4.51	9.34	7.48
Dvd Payout Ratio (%)	- -	11.3	16.9	12.39	12.17	11.75	10.64	9.05	8.03	5.28	5.11	6.53	8.84	9.19	9.44
Sustainable Growth Rate (%)	20.6	13.72	12.28	16.65	14.85	13.27	12.96	15.07	16.32	23.64	22.76	16.61	12.12	11.35	10.73

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	7,028	7,124	10,487	14,564	12,472	16,627	21,008	18,990	17,752	21,735	34,870	34,488	34,917	31,275	39,385
ST Debt	1,273	93	988	2,212	1,052	1,255	2,135	1,271	676	2,628	2,537	5,579	3,609	2,214	3,533
LT Debt	5,755	7,031	9,500	12,352	11,420	15,372	18,873	17,719	17,076	19,107	32,333	28,909	31,308	29,061	35,852
Total Debt/EBITDA	3.18	2.8	3.9	4.06	3.01	3.77	4.13	3.11	2.75	2.13	2.72	2.9	3.26	2.89	3.62
Net Debt/EBITDA	2.72	2.48	1.73	3.68	2.9	3.6	3.87	2.77	2.38	1.12	2.37	2.18	2.5	2.52	2.71
Total Debt/EBIT	5.22	4.55	6.22	7.65	5.09	6.28	6.87	4.95	4.25	2.75	3.41	4.05	4.77	4.05	4.86
Net Debt/EBIT	4.46	4.04	2.76	6.94	4.9	5.98	6.44	4.41	3.67	1.45	2.97	3.05	3.67	3.53	3.64
EBITDA to Interest Expense	12.59	10.55	10.25	7.48	9.98	9.39	8.6	9.15	9.55	18.48	23.91	16.37	7.8	7.79	7.67
EBITDA-CapEx/Interest Expense	11.1	9.24	9.18	6.59	8.96	8.45	7.74	8.01	8.18	15.81	19.21	13.29	6.72	6.78	6.6
EBIT to Interest Expense	7.69	6.47	6.44	3.97	5.91	5.64	5.16	5.75	6.18	14.27	19.08	11.72	5.32	5.55	5.72
Interest Expense	175	242	262	480	415	469	592	667	676	553	536	726	1,375	1,390	1,419
Common Equity/Total Assets	26.54	29.55	28.63	25.24	30.74	31.24	28.84	34.02	38.58	41.35	37.71	43.59	48.42	55.02	54.01
Long-Term Debt/Equity (%)	38.27	45.47	56.36	60.11	53.49	71.36	74.27	64.23	57.54	55.36	78.91	65.48	66.84	58.51	66.97
Long-Term Debt/Capital (%)	40.67	46.15	48.44	48.67	45.63	49.64	50.53	46.48	42.4	37.99	45.59	37.54	37.8	34.23	36.17
Long-Term Debt/Total Assets (%)	21.45	25.62	29.81	28.82	27.97	33.48	33.3	31.51	29.25	27.67	33.99	29.76	31.71	29.86	32.49
Total Debt/Equity (%)	46.73	46.07	62.22	70.88	58.42	77.19	82.67	68.84	59.82	62.97	85.1	78.12	74.54	62.96	73.57
Total Debt/Capital (%)	49.67	46.76	53.48	57.39	49.84	53.69	56.25	49.82	44.07	43.21	49.17	44.78	42.16	36.83	39.74
Total Debt/Total Assets (%)	26.19	25.96	32.91	33.99	30.54	36.22	37.07	33.77	30.41	31.48	36.66	35.5	35.37	32.14	35.69
Net Debt to Equity	39.98	40.86	27.65	64.34	56.3	73.54	77.41	61.22	51.74	33.06	74.17	58.81	57.3	54.89	55.16
Net Debt/Capital (%)	45.77	43.79	33.82	55	48.91	52.48	54.62	46.89	40.53	28.54	45.74	37.91	35.9	33.7	33.09
EBITDA	2,207	2,548	2,687	3,590	4,140	4,405	5,090	6,100	6,458	10,218	12,817	11,888	10,724	10,825	10,890
EBITDA-CapEx	1,946	2,233	2,405	3,162	3,717	3,961	4,582	5,342	5,532	8,744	10,294	9,645	9,245	9,425	9,365
Operating Income (Loss)	1,347	1,564	1,687	1,905	2,452	2,647	3,057	3,833	4,181	7,893	10,225	8,507	7,318	7,717	8,110

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.33	0.39	1.87	0.25	0.11	0.16	0.19	0.34	0.39	1	0.33	0.5	0.58	0.42	0.67
Current Ratio	1.55	2.31	3.16	1.22	1.38	1.44	1.34	1.73	1.92	2.13	1.5	1.48	1.75	1.66	1.89
Quick Ratio	0.89	1.25	2.49	0.72	0.78	0.87	0.74	1.09	1.19	1.63	1	1.06	1.27	1.14	1.36
CFO/Avg Current Liab	0.7	0.78	0.77	0.62	0.62	0.72	0.67	0.69	0.81	1	0.78	0.6	0.54	0.63	0.55
Common Equity/Total Assets	26.54	29.55	28.63	25.24	30.74	31.24	28.84	34.02	38.58	41.35	37.71	43.59	48.42	55.02	54.01
Long-Term Debt/Equity (%)	38.27	45.47	56.36	60.11	53.49	71.36	74.27	64.23	57.54	55.36	78.91	65.48	66.84	58.51	66.97
Long-Term Debt/Capital (%)	40.67	46.15	48.44	48.67	45.63	49.64	50.53	46.48	42.4	37.99	45.59	37.54	37.8	34.23	36.17
Long-Term Debt/Total Assets (%)	21.45	25.62	29.81	28.82	27.97	33.48	33.3	31.51	29.25	27.67	33.99	29.76	31.71	29.86	32.49
Total Debt/Equity (%)	46.73	46.07	62.22	70.88	58.42	77.19	82.67	68.84	59.82	62.97	85.1	78.12	74.54	62.96	73.57
Total Debt/Capital (%)	49.67	46.76	53.48	57.39	49.84	53.69	56.25	49.82	44.07	43.21	49.17	44.78	42.16	36.83	39.74
Total Debt/Total Assets (%)	26.19	25.96	32.91	33.99	30.54	36.22	37.07	33.77	30.41	31.48	36.66	35.5	35.37	32.14	35.69
CFO/Total Liabilities	14.34	17.02	13.4	11.74	15.1	13.37	12.81	15.86	17.32	24	17.2	17.27	16.2	18.19	13.76
CFO/CapEx	6.48	6.47	7.12	6.13	6.96	7.34	7.88	5.99	5.37	5.62	3.69	4.08	5.68	6.19	5.13
Altman's Z-Score	4.77	5.59	4.78	5.3	6.5	6	5.26	6.19	6.85	6.88	6.86	6.12	6.21	6.77	6.08

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	7.14	7.01	6.99	7.65	6.76	6.53	6.04	6.08	6.02	6.39	5.72	5.58	5.25	5.23	5.21
Days Sales Outstanding	51.12	52.06	52.24	47.72	53.99	55.87	60.44	60.05	60.63	57.16	63.85	65.39	69.56	69.85	70
Inventory Turnover	5.41	5.2	5.15	5.6	4.78	4.71	4.43	4.52	4.46	4.38	4.31	4.86	4.8	5	5.06
Days Inventory Outstanding	67.53	70.16	70.91	65.13	76.32	77.5	82.48	80.78	81.85	83.28	84.66	75.16	75.97	72.97	72.14
Accounts Payable Turnover	11.94	11.69	11.42	12.91	11.37	11.58	10.39	8.9	8.25	8.24	8.17	8.49	8.06	8.42	7.99
Accounts Payable Turnover Days	30.56	31.22	31.96	28.27	32.1	31.52	35.13	41.03	44.25	44.29	44.68	42.98	45.26	43.33	45.69
Cash Conversion Cycle	88.08	90.99	91.19	84.58	98.21	101.84	107.79	99.8	98.23	96.14	103.83	97.56	100.27	99.49	96.45
Inventory to Cash Days	-16.41	-18.1	-18.67	-17.42	-22.34	-21.63	-22.04	-20.73	-21.23	-26.13	-20.81	-9.78	-6.41	-3.11	-2.14
Inventories	1,330	1,443	1,494	1,860	1,992	2,213	2,971	3,005	3,370	4,029	5,051	5,634	5,088	4,978	5,425
Raw Materials	335	362	347	442	421	466	708	812	971	1,305	1,922	2,405	2,057	1,803	1,877
Work In Process	129	150	158	208	237	328	505	430	517	540	676	660	705	755	889
Finished Goods	866	932	989	1,210	1,334	1,419	1,758	1,763	1,882	2,184	2,453	2,569	2,326	2,420	2,659
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	17,125	23,203	40,119	49,890	56,556	55,706	75,003	89,964	129,948	184,449	262,893	215,870	204,885	198,728	218,453
- Cash & Cash Equivalents	1,016	806	5,826	1,344	452	786	1,335	2,103	2,399	10,325	4,477	8,524	8,077	4,009	9,852
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	184	170	107	87	129
+ Total Debt	7,028	7,124	10,487	14,564	12,472	16,627	21,008	18,990	17,752	21,735	34,870	34,488	34,917	31,275	39,385
Enterprise Value	23,132	29,518	44,776	63,102	68,575	71,547	94,676	106,851	145,301	195,869	293,470	242,004	231,829	224,520	247,862
Total Capital	14,151	15,235	19,610	25,379	25,026	30,969	37,350	38,118	40,278	50,298	70,924	77,009	82,830	84,908	99,115
Total Debt/Capital (%)	49.67	46.76	53.48	57.39	49.84	53.69	56.25	49.82	44.07	43.21	49.17	44.78	42.16	36.83	39.74
Total Debt / EV	0.3	0.24	0.23	0.23	0.18	0.23	0.22	0.18	0.12	0.11	0.12	0.14	0.15	0.14	0.16
EV/Sales	2	2.36	3.42	3.74	4.04	3.92	4.53	4.39	5.69	6.08	7.48	5.39	5.41	5.24	5.56
EV/EBITDA	10.48	11.59	16.66	17.58	16.56	16.24	18.6	17.52	22.5	19.17	22.9	20.36	21.62	20.74	22.76
EV/EBIT	17.17	18.87	26.54	33.13	27.97	27.03	30.97	27.88	34.75	24.82	28.7	28.45	31.68	29.09	30.56
EV/Cash Flow to Firm	12.51	12.95	19.77	20.65	20.37	19.2	20.82	20.77	26.01	22.32	30	24.66	23.85	22.62	27.15
EV/Free Cash Flow to Firm	10.96	11.38	17.58	18.12	18.1	17.15	18.73	18.1	22.31	19.11	23.85	20.07	20.7	19.82	23.26
Diluted Market Cap	17,304	23,382	40,732	50,404	57,010	56,073	75,572	90,859	130,923	185,846	264,894	216,972	205,947	199,248	219,032
Diluted Enterprise Value	23,316	29,700	45,393	63,625	69,029	71,914	95,245	107,746	146,276	197,266	295,471	243,106	232,894	226,601	248,694
EV per Share	60.75	81.14	124.27	158.47	172	181.22	239.69	265.8	363.25	494.62	744.85	617.36	600.59	587.75	657.46
TTM Sales	11,559	12,510	13,090	16,890	16,965	18,274	20,918	24,358	25,542	32,218	39,211	44,915	42,857	42,879	44,557
TTM EBITDA	2,207	2,548	2,687	3,590	4,140	4,405	5,090	6,100	6,458	10,218	12,817	11,888	10,724	10,825	10,890
TTM Operating Income	1,347	1,564	1,687	1,905	2,452	2,647	3,057	3,833	4,181	7,893	10,225	8,507	7,318	7,717	8,110
TTM Cash Flow to Firm	1,849	2,279	2,265	3,055	3,366	3,727	4,548	5,144	5,587	8,777	9,781	9,815	9,719	9,927	9,131
TTM Free Cash Flow to Firm	2,110	2,594	2,547	3,483	3,789	4,171	5,056	5,902	6,513	10,251	12,304	12,058	11,198	11,327	10,656

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	8.87	9.93	17.76	16.54	16.94	15.15	16.75	17.14	22.19	19.04	22.38	19.04	20.83	19.79	23.44
EV/EBIT	17.17	18.87	26.54	33.13	27.97	27.03	30.97	27.88	34.75	24.82	28.7	28.45	31.68	29.09	30.56
Enterprise Value	23,132	29,518	44,776	63,102	68,575	71,547	94,676	106,851	145,301	195,869	293,470	242,004	231,829	224,520	247,862
Low Price	43.06	45.67	64.54	107.33	117.1	119.75	140	190.38	210.07	250.21	433.52	475.77	415.6	493.3	385.46
EV/Sales	2	2.36	3.42	3.74	4.04	3.92	4.53	4.39	5.69	6.08	7.48	5.39	5.41	5.24	5.56
EV/EBITDA	10.48	11.59	16.66	17.58	16.56	16.24	18.6	17.52	22.5	19.17	22.9	20.36	21.62	20.74	22.76
Price/Earnings	12.88	19.7	31.51	26.34	28.64	27.55	33.71	30.62	35.16	28.93	34.03	31.06	34.18	31.37	32.59
Price/Earnings Average	15.83	17.36	24.53	25.22	26.4	28.49	30.79	30.34	30.18	23.84	27.11	31.22	34.12	34.31	27.98
Price/Earnings High	18.86	20.24	31.53	27.28	29	31.37	35.72	34.74	35.73	33.08	34.29	37.47	39.27	37.86	34.36
Price/Earnings Low	12.33	14.11	18.26	22.56	23.64	23.38	24.85	26.05	22.73	15.54	22.11	26.83	26.76	29.75	21.68
Price/Book Value	2.4	2.86	4.4	4.61	4.5	3.88	4.59	4.7	5.77	6.46	7.33	5.1	4.29	3.71	3.67
Price/Book Value Average	2.96	2.52	3.42	4.42	4.15	4.02	4.19	4.66	4.95	5.32	5.84	5.12	4.28	4.06	3.15
Price/Book Value High	3.52	2.94	4.4	4.78	4.56	4.42	4.86	5.34	5.86	7.39	7.39	6.15	4.92	4.48	3.86
Price/Book Value Low	2.3	2.05	2.55	3.95	3.72	3.3	3.38	4	3.73	3.47	4.76	4.4	3.36	3.52	2.44
Price/Tangible Book Value	-3.6	-4.82	-14.76	-4.02	-5.53	-4.05	-4.53	-7.06	-12.93	-43.82	-12.48	-14.9	-14.8	-16.96	-18.73
Price/Tangible Book Value Average	-4.43	-4.25	-11.49	-3.85	-5.09	-4.19	-4.14	-7	-11.09	-36.11	-9.94	-14.98	-14.77	-18.56	-16.08
Price/Tangible Book Value High	-5.28	-4.95	-14.77	-4.17	-5.6	-4.61	-4.8	-8.01	-13.14	-50.11	-12.58	-17.97	-17	-20.48	-19.75
Price/Tangible Book Value Low	-3.45	-3.45	-8.55	-3.45	-4.56	-3.44	-3.34	-6.01	-8.36	-23.54	-8.11	-12.87	-11.58	-16.09	-12.46
Price/Sales	1.48	1.85	3.06	2.95	3.33	3.05	3.59	3.69	5.09	5.73	6.7	4.81	4.78	4.63	4.9
Price/Sales Average	1.82	1.63	2.39	2.83	3.07	3.15	3.28	3.66	4.37	4.72	5.34	4.83	4.77	5.07	4.21
Price/Sales High	2.17	1.91	3.07	3.06	3.38	3.47	3.8	4.19	5.17	6.55	6.76	5.8	5.49	5.59	5.17
Price/Sales Low	1.42	1.33	1.78	2.53	2.75	2.59	2.64	3.14	3.29	3.08	4.36	4.15	3.74	4.39	3.26
Price/Cash Flow	10.13	11.38	19.95	19.05	19.22	17.1	18.73	19.8	26.13	22.25	28.23	23.58	24.37	22.93	27.94
Price/Cash Flow Average	12.45	10.02	15.53	18.24	17.72	17.68	17.11	19.62	22.43	18.34	22.49	23.7	24.33	25.08	24
Price/Cash Flow High	14.83	11.69	19.97	19.73	19.47	19.47	19.84	22.47	26.55	25.44	28.45	28.45	28	27.67	29.46
Price/Cash Flow Low	9.7	8.15	11.57	16.32	15.87	14.51	13.81	16.85	16.9	11.95	18.34	20.37	19.08	21.74	18.59
Price/Free Cash Flow Average	10.9	8.75	13.83	15.84	15.62	15.66	15.3	16.98	19.05	15.69	17.83	19.14	20.8	21.65	20.13
Price/Free Cash Flow High	12.98	10.2	17.78	17.13	17.16	17.25	17.74	19.45	22.55	21.77	22.55	22.96	23.94	23.89	24.72
Price/Free Cash Flow Low	8.49	7.11	10.3	14.17	13.99	12.85	12.35	14.58	14.35	10.23	14.54	16.45	16.31	18.77	15.59
EV/Sales Average	2.34	2.14	2.74	3.61	3.78	4.02	4.22	4.35	4.97	5.07	6.12	5.41	5.4	5.71	4.88
EV/Sales High	2.69	2.41	3.42	3.84	4.08	4.34	4.74	4.88	5.77	6.9	7.54	6.38	6.12	6.23	5.84
EV/Sales Low	1.94	1.83	2.13	3.31	3.46	3.45	3.58	3.84	3.89	3.43	5.14	4.73	4.37	5.03	3.93
EV/EBITDA Average	12.26	10.5	13.36	16.99	15.5	16.67	17.33	17.38	19.65	15.99	18.72	20.45	21.58	22.61	19.95
EV/EBITDA High	14.09	11.84	16.68	18.08	16.74	18	19.48	19.5	22.83	21.76	23.05	24.1	24.46	24.68	23.87
EV/EBITDA Low	10.15	9	10.39	15.59	14.18	14.33	14.73	15.31	15.39	10.81	15.71	17.89	17.47	19.93	16.07
EV/EBIT Average	20.08	17.11	21.28	32.02	26.16	27.75	28.85	27.66	30.35	20.71	23.47	28.58	31.63	31.71	26.79
EV/EBIT High	23.08	19.28	26.56	34.07	28.26	29.95	32.43	31.04	35.26	28.17	28.9	33.68	35.85	34.63	32.06
EV/EBIT Low	16.63	14.66	16.54	29.38	23.94	23.85	24.53	24.37	23.77	14	19.7	25	25.6	27.96	21.58
Last Price	44.97	63.78	111.35	125.29	141.85	141.1	189.88	223.79	324.87	465.78	667.24	550.69	530.79	520.23	579.45
High Price	65.86	65.54	111.44	129.77	143.65	160.68	201.2	253.91	330.14	532.57	672.34	664.27	609.85	627.88	610.97
Enterprise Value Average	27,060	26,763	35,897	60,990	64,153	73,449	88,188	106,037	126,885	163,428	239,969	243,126	231,476	244,719	217,258
Enterprise Value High	31,091	30,162	44,813	64,895	69,293	79,277	99,147	118,959	147,409	222,318	295,479	286,528	262,349	267,203	259,998
Enterprise Value Low	22,409	22,933	27,915	55,959	58,708	63,118	74,973	93,420	99,381	110,503	201,384	212,636	187,369	215,794	174,980

Shares Outstanding	371	357	362	400	400	393	401	402	399	397	394	391	387	381	376
Diluted Weighted Avg Shares	385	367	366	402	402	397	398	406	403	399	397	394	388	383	378
Basic Weighted Avg Shares	381	364	360	398	399	395	395	402	400	396	394	392	386	382	377
Revenue per Share	30.35	34.39	36.33	42.41	42.55	46.29	52.96	60.59	63.86	81.36	99.52	114.58	111.03	112.25	118.19
EBITDA per Share	5.8	7	7.46	9.01	10.38	11.16	12.89	15.17	16.14	25.8	32.53	30.33	27.78	28.34	28.89
Operating Income per Share	3.54	4.3	4.68	4.78	6.15	6.7	7.74	9.53	10.45	19.93	25.95	21.7	18.96	20.2	21.51
Basic EPS, GAAP	3.49	3.24	3.53	4.76	4.95	5.12	5.63	7.31	9.24	16.1	19.61	17.73	15.53	16.58	17.78
Basic EPS from Cont Ops	2.69	3.46	3.55	4.76	4.97	5.13	5.64	7.31	9.24	16.1	19.61	17.76	15.43	16.59	17.83
Diluted EPS, GAAP	3.46	3.21	3.48	4.71	4.91	5.09	5.59	7.24	9.17	15.98	19.46	17.64	15.45	16.54	17.74
Diluted EPS from Cont Ops	2.66	3.43	3.5	4.71	4.93	5.1	5.6	7.24	9.18	15.98	19.47	17.66	15.35	16.55	17.78
Dividend per Share	- -	0.39	0.6	0.59	0.6	0.6	0.6	0.66	0.74	0.85	1	1.16	1.35	1.53	1.69
Cash Flow per Share	4.44	5.61	5.58	6.58	7.38	8.25	10.14	11.3	12.43	20.93	23.63	23.35	21.78	22.69	20.74
Free Cash Flow per Basic Share	3.76	4.74	4.8	5.5	6.32	7.13	8.85	9.42	10.12	17.21	17.23	17.63	17.95	19.02	16.69
Cash & Equivalents per Share	2.68	2.23	16.18	3.4	1.13	1.99	3.38	5.23	6	26.07	11.36	21.74	20.93	14.58	26.8
Book Value per Share	18.7	22.29	25.32	27.16	31.49	36.33	41.37	47.58	56.32	72.1	91.04	108.04	123.85	140.17	158.09
Tangible Book Value per Share	-12.48	-13.23	-7.55	-31.15	-25.67	-34.85	-41.93	-31.69	-25.13	-10.63	-53.45	-36.96	-35.88	-30.66	-30.94

Thermo Fisher Scientific Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)