Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
The historical rank and industry rank for Thermo Fisher Scientific's Graham Number or its related term are showing as below:
BSP:TMOS34's Price-to-Graham-Number is not ranked *
in the Medical Diagnostics & Research industry.
Industry Median: 2.61 * Ranked among companies with meaningful Price-to-Graham-Number only.
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Thermo Fisher Scientific (BSP:TMOS34) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Thermo Fisher Scientific's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
55.81
/
N/A
=
N/A
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Thermo Fisher Scientific Graham Number Related Terms
Thermo Fisher Scientific Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BSP:TMOS34 vs DHR, IDXX, A: Graham Number Comparison
For the Diagnostics & Research subindustry, Thermo Fisher Scientific's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Thermo Fisher Scientific Price-to-Graham-Number vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Thermo Fisher Scientific's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Thermo Fisher Scientific's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thermo Fisher Scientific (BSP:TMOS34) has a Graham Number of R$N/A as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Thermo Fisher Scientific and its competitors. According to the industry distribution chart, Thermo Fisher Scientific ranks #999999 out of 72 companies in the Medical Diagnostics & Research industry.
Is Thermo Fisher Scientific's Graham Number too high?
Thermo Fisher Scientific's current Graham Number is R$N/A. Based on the distribution chart, Thermo Fisher Scientific ranks #999999 out of 72 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers. Overall, Thermo Fisher Scientific has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thermo Fisher Scientific's Graham Number compare to DHR and IDXX?
According to the Medical Diagnostics & Research industry distribution chart, Thermo Fisher Scientific ranks #999999 out of 72 companies for Graham Number. This places Thermo Fisher Scientific in the lower half of its industry. The industry median Graham Number is 2.61. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Medical Diagnostics & Research company?
The median Graham Number among Medical Diagnostics & Research companies is 2.61, based on 72 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Thermo Fisher Scientific and its competitors. For the Medical Diagnostics & Research industry, the median Graham Number is 2.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thermo Fisher Scientific's current Graham Number is R$N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thermo Fisher Scientific stock overvalued right now?
Based on GuruFocus' analysis, Thermo Fisher Scientific (BSP:TMOS34) is currently considered Modestly Undervalued. The stock's GF Value™ is R$62.07, compared to a current price of R$55.81 — trading 10.1% below its estimated fair value. The current Graham Number is R$N/A. Thermo Fisher Scientific's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Thermo Fisher Scientific (BSP:TMOS34), the current Graham Number is R$N/A as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Thermo Fisher Scientific (BSP:TMOS34) Overvalued in 2026?
Based on GuruFocus' analysis, Thermo Fisher Scientific stock appears to be undervalued.
The current stock price of R$55.81 is trading 10.1% below its estimated GF Value™ of R$62.07.
GuruFocus considers Thermo Fisher Scientific to be Modestly Undervalued.
Key valuation signals for BSP:TMOS34:
Graham Number: R$N/A
GF Value™: R$62.07 vs. price of R$55.81 (10.1% below fair value)
No single metric tells the full story. See the BSP:TMOS34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. The firm operates through four segments as of year-end 2025 (revenue figures include some cross-segment revenue): analytical technologies (17% of sales); specialty diagnostic products (11%); life science solutions (23%); and lab products and services, which includes CRO services (the remainder).
74GF Score
Get the complete analysis for BSP:TMOS34
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