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Thermo Fisher: Great Business Still Trading At A Risky Price Before Earnings (NYSE:TMO)
Thermo Fisher Scientific (TMO) is a high-quality business but is currently overvalued given its growth outlook. With FY25 revenue growth of 3.9% and EPS growth of 7.3%, and a FY26 adjusted EPS growth guidance of 6-8%, the stock’s near 30x earnings/free cash flow valuation seems stretched without a return to double-digit growth. The author maintains a Hold rating, citing fair-to-rich valuation and potential risks like funding pressures and macroeconomic instability.