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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
As of Mar. 2026, Thermo Fisher Scientific has a Sloan Ratio of 9.76%, indicating the company is in the safe zone and there is no funny business with accruals.
Thermo Fisher Scientific (BSP:TMOS34) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2026, Thermo Fisher Scientific has a Sloan Ratio of 9.76%, indicating the company is in the safe zone and there is no funny business with accruals.
Thermo Fisher Scientific Sloan Ratio % Related Terms
Thermo Fisher Scientific Sloan Ratio % 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: Sloan Ratio % Comparison
For the Diagnostics & Research subindustry, Thermo Fisher Scientific's Sloan Ratio %, along with its competitors' market caps and Sloan 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 Sloan Ratio % vs Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Thermo Fisher Scientific's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Thermo Fisher Scientific's Sloan Ratio % falls into.
Thermo Fisher Scientific Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Thermo Fisher Scientific's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Thermo Fisher Scientific's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 8967.559 (Jun. 2025 ) + 8666.608 (Sep. 2025 ) + 10714.995 (Dec. 2025 ) + 8634.07 (Mar. 2026 ) = R$36,983 Mil.
Thermo Fisher Scientific's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 7758.574 (Jun. 2025 ) + 12007.757 (Sep. 2025 ) + 18860.355 (Dec. 2025 ) + 6233.683 (Mar. 2026 ) = R$44,860 Mil.
Thermo Fisher Scientific's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -1597.19 (Jun. 2025 ) + -22111.649 (Sep. 2025 ) + 4861.029 (Dec. 2025 ) + -46862.446 (Mar. 2026 ) = R$-65,710 Mil.
* 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 Sloan Ratio % of 9.76% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Thermo Fisher Scientific and its competitors.
Is Thermo Fisher Scientific's Sloan Ratio % too high?
Thermo Fisher Scientific's current Sloan Ratio % is 9.76%. Overall, Thermo Fisher Scientific has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Thermo Fisher Scientific's Sloan Ratio % compare to DHR and IDXX?
Thermo Fisher Scientific's Sloan Ratio % of 9.76% can be compared against companies in the Medical Diagnostics & Research industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Medical Diagnostics & Research company?
A good Sloan Ratio % depends on the Medical Diagnostics & Research industry context. However, Sloan Ratio % 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 Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Thermo Fisher Scientific and its competitors. Thermo Fisher Scientific's current Sloan Ratio % is 9.76%. 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 Fairly Valued. The stock's GF Value™ is R$62.63, compared to a current price of R$56.89 — trading 9.2% below its estimated fair value. The current Sloan Ratio % is 9.76%. 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 Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Thermo Fisher Scientific (BSP:TMOS34), the current Sloan Ratio % is 9.76% 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$56.89 is trading 9.2% below its estimated GF Value™ of R$62.63.
GuruFocus considers Thermo Fisher Scientific to be Fairly Valued.
Key valuation signals for BSP:TMOS34:
Sloan Ratio %: 9.76%
GF Value™: R$62.63 vs. price of R$56.89 (9.2% 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
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Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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