Last Price$523.6(1.0%)
Market Cap$201.0B
DCF value
$557.3
Undervalued (DCF value)
6.4%
Discount Rate
6.6%
Long-Term Growth Rate
3.0%
Stock quality
6/10
Good
TMO DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Dec'19 Actual | Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Estimate | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 25,542.0 4.9% | 32,218.0 26.1% | 39,211.0 21.7% | 44,915.0 14.5% | 42,857.0 (4.6%) | 42,787.1 (0.2%) | 44,698.3 4.5% | 47,912.5 7.2% | 51,288.7 7.0% | 53,894.0 5.1% | 56,444.8 4.7% | 58,920.8 4.4% | 61,301.1 4.0% | 63,565.0 3.7% | 65,692.3 3.3% | 67,663.1 3.0% |
% margin | 4,594.0 18.0% | 7,794.0 24.2% | 10,028.0 25.6% | 8,393.0 18.7% | 6,859.0 16.0% | 8,918.6 20.8% | 9,317.0 20.8% | 9,986.9 20.8% | 10,690.7 20.8% | 11,233.7 20.8% | 11,765.4 20.8% | 12,281.5 20.8% | 12,777.6 20.8% | 13,249.6 20.8% | 13,693.0 20.8% | 14,103.8 20.8% |
NOPAT % effective tax rate | 4,171.8 16.3% | 6,877.1 21.3% | 8,770.1 22.4% | 7,639.9 17.0% | 6,549.7 15.3% | 8,516.4 19.9% | 8,896.8 19.9% | 9,536.6 19.9% | 10,208.6 19.9% | 10,727.1 19.9% | 11,234.9 19.9% | 11,727.7 19.9% | 12,201.5 19.9% | 12,652.1 19.9% | 13,075.5 19.9% | 13,467.8 19.9% |
% of revenue | 2,277.0 8.9% | 2,325.0 7.2% | 2,592.0 6.6% | 3,381.0 7.5% | 3,406.0 7.9% | 3,149.9 7.4% | 3,290.6 7.4% | 3,527.2 7.4% | 3,775.8 7.4% | 3,967.6 7.4% | 4,155.3 7.4% | 4,337.6 7.4% | 4,512.8 7.4% | 4,679.5 7.4% | 4,836.1 7.4% | 4,981.2 7.4% |
% of revenue | (926.0) (3.6%) | (1,474.0) (4.6%) | (2,523.0) (6.4%) | (2,243.0) (5.0%) | (1,479.0) (3.5%) | (2,122.1) (5.0%) | (2,216.9) (5.0%) | (2,376.4) (5.0%) | (2,543.8) (5.0%) | (2,673.0) (5.0%) | (2,799.5) (5.0%) | (2,922.3) (5.0%) | (3,040.4) (5.0%) | (3,152.7) (5.0%) | (3,258.2) (5.0%) | (3,355.9) (5.0%) |
% of revenue | (619.0) (2.4%) | (395.0) (1.2%) | (1,558.0) (4.0%) | (1,049.0) (2.3%) | (537.0) (1.3%) | (1,078.5) (2.5%) | (1,126.7) (2.5%) | (1,207.7) (2.5%) | (1,292.8) (2.5%) | (1,358.5) (2.5%) | (1,422.8) (2.5%) | (1,485.2) (2.5%) | (1,545.2) (2.5%) | (1,602.2) (2.5%) | (1,655.9) (2.5%) | (1,705.5) (2.5%) |
Free Cash Flow to Firm (FCFF) % of revenue | 4,903.8 19.2% | 7,333.1 22.8% | 7,281.1 18.6% | 7,728.9 17.2% | 7,939.7 18.5% | 8,465.6 19.8% | 8,843.8 19.8% | 9,479.7 19.8% | 10,147.7 19.8% | 10,663.2 19.8% | 11,167.9 19.8% | 11,657.8 19.8% | 12,128.7 19.8% | 12,576.7 19.8% | 12,997.6 19.8% | 13,387.5 19.8% |
% of FCFF used in calculation | 100.0% | 83.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | |||||||
Discount factor | 0.97 | 0.91 | 0.85 | 0.80 | 0.75 | 0.70 | 0.66 | 0.62 | 0.58 | |||||||
Discounted FCFF (DFCFF) | 7,110.5 | 8,612.4 | 8,648.0 | 8,524.2 | 8,374.5 | 8,200.2 | 8,002.8 | 7,784.2 | 7,546.2 |
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TMO DCF Value
DCF Value Calculation
as of Mar 03, 2025
Sum of DFCFF
% share of EV
72.8B
30.0%
Terminal Value (TV)
292.6B
Discounted TV
% share of EV
169.9B
70.0%
242.7B
6,110.0M
Total Debt
34.9B
213.9B
Shares outstanding
383.8M
FX rate
1.0
557.3
6.4% undervalued
Equity Value Bridge
TMO DCF Financials
Revenue
$42.9B -> $65.7B
4.4% CAGR
Operating Income
$6,859.0M -> $13.7B
7.2% CAGR
FCFF
$7,939.7M -> $13.0B
5.1% CAGR
TMO DCF sensitivity
DCF value
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
6.0%
$574.0
$574.0
$574.0
$574.0
$574.0
6.5%
$560.0
$560.0
$560.0
$560.0
$560.0
6.6%
$554.0
$557.0
$557.0
$557.0
$557.0
7.5%
$451.0
$485.0
$527.0
$534.0
$534.0
8.0%
$406.0
$434.0
$467.0
$507.0
$522.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
2.0%
2.5%
3.0%
3.5%
4.0%
WACC
6.0%
10.0%
10.0%
10.0%
10.0%
10.0%
6.5%
7.0%
7.0%
7.0%
7.0%
7.0%
6.6%
6.0%
6.0%
6.0%
6.0%
6.0%
7.5%
(14.0%)
(7.0%)
1.0%
2.0%
2.0%
8.0%
(22.0%)
(17.0%)
(11.0%)
(3.0%)
0.0%
Explore more intrinsic value tools hub for TMO
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Earnings growth model
Discount rate
Peter Lynch Fair Value
Intrinsic Value
Reverse DCF
FAQ
What is Thermo Fisher Scientific Inc. DCF (discounted cash flow) valuation?
As of Mar 03, 2025, Thermo Fisher Scientific Inc.'s Discounted Cash Flow (DCF) valuation estimates its share price at $557.3. This suggests it may be undervalued by 6.4% compared to its current price of around $523.6, using a WACC of 6.6% and growth rates of 3.0%.
What is Thermo Fisher Scientific Inc. WACC?
As of Mar 03, 2025, Thermo Fisher Scientific Inc.'s Weighted Average Cost of Capital (WACC) is approximately 6.6%.
What is Thermo Fisher Scientific Inc. Enterprise Value?
As of Mar 03, 2025, Thermo Fisher Scientific Inc.'s Enterprise Value (EV) is approximately $242.7B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.