Price to Book Value (P/BV)
since 2005
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Thermo Fisher Scientific Inc. pages available for free this week:
- Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Calculation
Thermo Fisher Scientific Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Thermo Fisher Scientific Inc. shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Thermo Fisher Scientific Inc. Annual Report.
The price-to-book (P/BV) ratio for the period examined demonstrates a fluctuating pattern, generally trending upwards with periods of contraction. Initial values indicate a relatively high valuation, followed by a period of decline and subsequent growth. A detailed examination reveals distinct phases in the ratio’s behavior.
- Initial Phase (2006-2009)
- The P/BV ratio began at 2.03 in 2006, decreased to 1.38 in 2007, and experienced further fluctuation, reaching a low of 1.02 in 2009. This period suggests a potential correction in valuation or a period of market uncertainty impacting investor sentiment. The share price declined significantly during this period, while book value per share remained relatively stable.
- Recovery and Growth (2010-2019)
- From 2010 through 2019, the P/BV ratio generally increased, moving from 1.29 to 3.75. This upward trend coincided with increases in both share price and book value per share, indicating positive investor confidence and company performance. The rate of increase accelerated in the latter half of this period. The ratio more than doubled between 2016 and 2019.
- Peak and Moderation (2020-2021)
- The P/BV ratio peaked in 2020 and 2021, reaching 4.16 and 5.15 respectively. This represents the highest valuation observed during the analyzed timeframe. This peak was driven by a substantial increase in share price, outpacing the growth in book value per share. A slight decrease to 5.18 in 2021 suggests a potential stabilization or minor correction.
- Recent Period (2022-2026)
- From 2022 to 2026, the P/BV ratio experienced a moderate decline, moving from 5.18 to 3.62. While book value per share continued to increase consistently, the share price experienced more volatility, resulting in the observed decrease in the ratio. This suggests a potential shift in market perception or a recalibration of valuation expectations. The decline appears to be slowing in the most recent year.
Overall, the P/BV ratio demonstrates a dynamic relationship between market valuation and underlying book value. The observed trends suggest periods of both investor optimism and caution, influenced by factors impacting share price and the company’s net asset value. The recent moderation in the P/BV ratio warrants continued monitoring to assess its sustainability and potential implications for future performance.
Comparison to Competitors
Thermo Fisher Scientific Inc., P/BV, long-term trends, comparison to competitors
| Thermo Fisher Scientific Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | ||||||||||||
| Feb 20, 2025 | ||||||||||||
| Feb 22, 2024 | ||||||||||||
| Feb 23, 2023 | ||||||||||||
| Feb 24, 2022 | ||||||||||||
| Feb 25, 2021 | ||||||||||||
| Feb 26, 2020 | ||||||||||||
| Feb 27, 2019 | ||||||||||||
| Feb 28, 2018 | ||||||||||||
| Feb 28, 2017 | ||||||||||||
| Feb 25, 2016 | ||||||||||||
| Feb 26, 2015 | ||||||||||||
| Feb 27, 2014 | ||||||||||||
| Feb 27, 2013 | ||||||||||||
| Feb 29, 2012 | ||||||||||||
| Feb 24, 2011 | ||||||||||||
| Feb 26, 2010 | ||||||||||||
| Feb 27, 2009 | ||||||||||||
| Feb 29, 2008 | ||||||||||||
| Mar 1, 2007 | ||||||||||||
| Mar 2, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Thermo Fisher Scientific Inc., P/BV, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Thermo Fisher Scientific Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 26, 2026 | ||
| Feb 20, 2025 | ||
| Feb 22, 2024 | ||
| Feb 23, 2023 | ||
| Feb 24, 2022 | ||
| Feb 25, 2021 | ||
| Feb 26, 2020 | ||
| Feb 27, 2019 | ||
| Feb 28, 2018 | ||
| Feb 28, 2017 | ||
| Feb 25, 2016 | ||
| Feb 26, 2015 | ||
| Feb 27, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 24, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 29, 2008 | ||
| Mar 1, 2007 | ||
| Mar 2, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Thermo Fisher Scientific Inc., P/BV, long-term trends, comparison to industry (health care)
| Thermo Fisher Scientific Inc. | Health Care | |
|---|---|---|
| Feb 26, 2026 | ||
| Feb 20, 2025 | ||
| Feb 22, 2024 | ||
| Feb 23, 2023 | ||
| Feb 24, 2022 | ||
| Feb 25, 2021 | ||
| Feb 26, 2020 | ||
| Feb 27, 2019 | ||
| Feb 28, 2018 | ||
| Feb 28, 2017 | ||
| Feb 25, 2016 | ||
| Feb 26, 2015 | ||
| Feb 27, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 24, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 29, 2008 | ||
| Mar 1, 2007 | ||
| Mar 2, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).