Thermo Fisher ScientificBSP:TMOS34 +7.04%74 PB Ratio is 3.50 as of Jun. 25, 2026, which is 17% below its 10-year median of 4.21. GuruFocus rates BSP:TMOS34 with a GF Score™ of 74/100 and a GF Value™ of R$63.08 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 196 Medical Diagnostics & Research companies, Thermo Fisher Scientific ranks worse than 72.45% on this metric.
The historical rank and industry rank for Thermo Fisher Scientific's PB Ratio or its related term are showing as below:
BSP:TMOS34'
s PB Ratio Range Over the Past 10 Years
Min: 2.57 Med: 4.21 Max: 6.63
Current: 3.52
During the past 13 years, Thermo Fisher Scientific's highest PB Ratio was 6.63. The lowest was 2.57. And the median was 4.21.
BSP:TMOS34's PB Ratio is ranked worse than 72.45% of 196
companies
in the Medical Diagnostics & Research industry
Industry Median: 2.05
vs BSP:TMOS34: 3.52
During the past 12 months, Thermo Fisher Scientific's average Book Value Per Share Growth Rate was 6.80% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 8.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 9.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 11.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Thermo Fisher Scientific was 32.30% per year. The lowest was -8.70% per year. And the median was 11.20% per year.
Back to Basics: PB Ratio
Thermo Fisher Scientific (BSP:TMOS34) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* 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.
For the Diagnostics & Research subindustry, Thermo Fisher Scientific's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Thermo Fisher Scientific's PB Ratio distribution charts can be found below:
* The bar in red indicates where Thermo Fisher Scientific's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Thermo Fisher Scientific (BSP:TMOS34) has a PB Ratio of 3.50 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Thermo Fisher Scientific and its competitors. This is 17% below median its historical median of 4.21. Over the past decade, Thermo Fisher Scientific's PB Ratio has ranged from 2.57 to 6.63. According to the industry distribution chart, Thermo Fisher Scientific ranks #142 out of 196 companies in the Medical Diagnostics & Research industry, placing it in the top 72.4%.
Is Thermo Fisher Scientific's PB Ratio too high?
Thermo Fisher Scientific's current PB Ratio of 3.50 is 17% below median its 10-year median of 4.21. Over the past 10 years, this metric has ranged from a low of 2.57 to a high of 6.63. The Medical Diagnostics & Research industry median PB Ratio is 2.05. Thermo Fisher Scientific's value of 3.50 is 70.7% above this industry median. Based on the distribution chart, Thermo Fisher Scientific ranks #142 out of 196 companies in the Medical Diagnostics & Research industry, which is below the industry midpoint. 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 PB Ratio compare to DHR and IDXX?
According to the Medical Diagnostics & Research industry distribution chart, Thermo Fisher Scientific ranks #142 out of 196 companies for PB Ratio. This places Thermo Fisher Scientific in the lower half of its industry. The industry median PB Ratio is 2.05. Thermo Fisher Scientific's value of 3.50 is 70.7% above this benchmark. Historically, Thermo Fisher Scientific's own PB Ratio has ranged from 2.57 to 6.63 over the past decade. While the company's 10-year median is 4.21 vs. the industry median of 2.05, Thermo Fisher Scientific has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Medical Diagnostics & Research company?
The median PB Ratio among Medical Diagnostics & Research companies is 2.05, based on 196 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Thermo Fisher Scientific's current PB Ratio of 3.50 is 70.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Thermo Fisher Scientific and its competitors. For the Medical Diagnostics & Research industry, the median PB Ratio is 2.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thermo Fisher Scientific's current PB Ratio is 3.50, which is 17% below median its own 10-year median of 4.21. 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$63.08, compared to a current price of R$53.25 — trading 15.6% below its estimated fair value. The current PB Ratio is 3.50, which is 17% below median its 10-year median of 4.21 and 70.7% above the Medical Diagnostics & Research industry median of 2.05. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Thermo Fisher Scientific (BSP:TMOS34), the current PB Ratio is 3.50 as of Jun. 25, 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$53.25 is trading 15.6% below its estimated GF Value™ of R$63.08.
GuruFocus considers Thermo Fisher Scientific to be Modestly Undervalued.
Key valuation signals for BSP:TMOS34:
PB Ratio: 3.50 (17% below median its 10-year median of 4.21)
GF Value™: R$63.08 vs. price of R$53.25 (15.6% below fair value)
Industry Position: 70.7% above the Medical Diagnostics & Research median (#142 of 196)
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
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