Price to Sales (P/S)
since 2005
Calculation
Thermo Fisher Scientific Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 20, 2025 | 4.73 | = | 537.83 | ÷ | 113.66 | 113.66 | = | 42,879 | ÷ | 377,261,182 | |
| Feb 22, 2024 | 4.99 | = | 560.49 | ÷ | 112.39 | 112.39 | = | 42,857 | ÷ | 381,312,268 | |
| Feb 23, 2023 | 4.73 | = | 550.95 | ÷ | 116.53 | 116.53 | = | 44,915 | ÷ | 385,430,077 | |
| Feb 24, 2022 | 5.39 | = | 540.17 | ÷ | 100.23 | 100.23 | = | 39,211 | ÷ | 391,191,770 | |
| Feb 25, 2021 | 5.52 | = | 451.47 | ÷ | 81.81 | 81.81 | = | 32,218 | ÷ | 393,793,362 | |
| Feb 26, 2020 | 4.83 | = | 309.16 | ÷ | 64.04 | 64.04 | = | 25,542 | ÷ | 398,828,389 | |
| Feb 27, 2019 | 4.24 | = | 259.14 | ÷ | 61.05 | 61.05 | = | 24,358 | ÷ | 399,003,681 | |
| Feb 28, 2018 | 4.01 | = | 208.58 | ÷ | 52.06 | 52.06 | = | 20,918 | ÷ | 401,784,066 | |
| Feb 28, 2017 | 3.37 | = | 157.68 | ÷ | 46.81 | 46.81 | = | 18,274 | ÷ | 390,391,061 | |
| Feb 25, 2016 | 3.05 | = | 130.57 | ÷ | 42.81 | 42.81 | = | 16,965 | ÷ | 396,261,928 | |
| Feb 26, 2015 | 3.06 | = | 130.14 | ÷ | 42.57 | 42.57 | = | 16,890 | ÷ | 396,782,757 | |
| Feb 27, 2014 | 3.74 | = | 124.91 | ÷ | 33.41 | 33.41 | = | 13,090 | ÷ | 391,792,194 | |
| Feb 27, 2013 | 2.12 | = | 74.25 | ÷ | 34.98 | 34.98 | = | 12,510 | ÷ | 357,625,034 | |
| Feb 29, 2012 | 1.77 | = | 56.62 | ÷ | 32.05 | 32.05 | = | 11,726 | ÷ | 365,853,610 | |
| Feb 24, 2011 | 2.00 | = | 55.33 | ÷ | 27.62 | 27.62 | = | 10,789 | ÷ | 390,607,016 | |
| Feb 26, 2010 | 1.98 | = | 48.77 | ÷ | 24.69 | 24.69 | = | 10,110 | ÷ | 409,461,414 | |
| Feb 27, 2009 | 1.44 | = | 36.26 | ÷ | 25.10 | 25.10 | = | 10,498 | ÷ | 418,164,910 | |
| Feb 29, 2008 | 2.40 | = | 55.93 | ÷ | 23.28 | 23.28 | = | 9,746 | ÷ | 418,600,105 | |
| Mar 1, 2007 | 5.05 | = | 45.56 | ÷ | 9.03 | 9.03 | = | 3,792 | ÷ | 420,030,996 | |
| Mar 2, 2006 | 2.15 | = | 34.78 | ÷ | 16.18 | 16.18 | = | 2,633 | ÷ | 162,738,621 |
Based on: 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 analyzed data reveals several notable trends in the key financial metrics over the observed periods. The share price exhibits considerable growth overall, rising from $34.78 in early 2006 to a peak above $560 in early 2024. This growth is marked by periods of volatility, including significant declines around early 2009 and minor fluctuations in some other years, but the long-term trajectory is strongly upward. The highest jump occurred between 2020 and 2021, indicating a rapid increase in market valuation during that phase.
Sales per share display a generally positive trend, beginning at $16.18 in 2006, experiencing a drop in 2007 followed by a recovery and steady increase over time. From around 2012 onwards, sales per share consistently rise, reaching over $110 by 2024. This indicates consistent growth in the company’s revenue generation ability on a per-share basis, despite some minor fluctuations in the later years, such as a slight decrease from 2019 to 2020 and again from 2023 to 2024.
The price-to-sales (P/S) ratio offers insight into market valuation relative to sales. This ratio exhibits significant fluctuation early in the period, peaking in 2007 at 5.05 but falling to lows near 1.44 by early 2009. Following this trough, the ratio gradually increases, reaching levels above 5.5 in 2021, though it declines slightly afterwards, settling close to 4.7–5.0 in recent years. This suggests the market valuation relative to sales increased substantially after 2009, reflecting heightened investor confidence or expectations about the company’s growth prospects.
- Share Price
- Strong upward trend with highs near $560 by 2024, punctuated by dips during 2009 and other minor fluctuations.
- Sales per Share
- Overall growth from $16.18 to above $110, with dips in 2007 and some minor decreases after 2019, indicating robust revenue growth per share.
- Price-to-Sales Ratio
- High volatility in early years with a low around 1.44 in 2009, followed by a steady increase to about 5.5 in 2021 then a slight decrease around 4.7 to 5.0 in recent years, indicating changing market valuation dynamics relative to sales.
In summary, the data portrays a company with strong share price appreciation aligned with increasing sales per share. The P/S ratio movements reflect changing investor sentiment and valuation levels over time, with a notable recovery and premium valuation established after the financial crisis period around 2009. The sustained growth in sales per share coupled with a high P/S ratio in recent years suggests ongoing optimism about growth potential despite some recent slight valuation pullbacks.
Comparison to Competitors
Thermo Fisher Scientific Inc., P/S, 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 20, 2025 | 4.73 | 6.04 | 4.88 | 2.36 | 6.23 | 18.25 | 4.98 | 4.26 | 3.60 | 2.32 | 5.52 | 10.78 |
| Feb 22, 2024 | 4.99 | 5.72 | 5.78 | 2.19 | 7.76 | 20.77 | 3.40 | 4.43 | 5.43 | 2.61 | 7.84 | 11.16 |
| Feb 23, 2023 | 4.73 | 4.61 | 5.17 | 3.29 | 5.79 | 10.96 | 3.86 | 4.34 | 4.71 | 2.35 | 7.01 | 8.56 |
| Feb 24, 2022 | 5.39 | 4.53 | 5.10 | 3.16 | 6.37 | 8.01 | 2.85 | 4.66 | 3.96 | 3.15 | 4.20 | 8.21 |
| Feb 25, 2021 | 5.52 | 4.05 | 5.64 | 3.16 | 7.01 | 8.06 | 3.24 | 5.15 | 3.93 | 4.42 | 6.24 | 8.82 |
| Feb 26, 2020 | 4.83 | 4.22 | 6.03 | 5.52 | 6.29 | 6.03 | 4.00 | 4.79 | 4.33 | 3.66 | 5.34 | 14.95 |
| Feb 27, 2019 | 4.24 | 3.58 | 5.22 | 3.67 | 3.97 | 5.15 | 3.84 | 4.45 | 4.92 | 4.49 | 6.62 | 15.54 |
| Feb 28, 2018 | 4.01 | 6.67 | 5.82 | 5.02 | 3.70 | 3.71 | 4.10 | 4.56 | 3.68 | 4.05 | 5.92 | 16.42 |
| Feb 28, 2017 | 3.37 | 3.84 | 5.65 | 4.72 | 3.48 | 4.18 | 3.08 | 4.62 | 4.54 | 3.84 | 7.86 | 12.51 |
| Feb 25, 2016 | 3.05 | 3.83 | 5.28 | 6.07 | 2.91 | 4.02 | 3.80 | 4.13 | 3.56 | 3.76 | 9.38 | 20.38 |
| Feb 26, 2015 | 3.06 | 4.90 | 6.13 | 6.28 | 3.09 | 4.03 | 6.36 | 3.77 | 3.93 | 4.24 | 14.62 | 47.41 |
| Feb 27, 2014 | 3.74 | 4.31 | 5.22 | 5.48 | 2.78 | 2.81 | 11.95 | 3.63 | 3.78 | 3.97 | 15.52 | 16.53 |
| Feb 27, 2013 | 2.12 | 3.30 | 4.09 | 3.40 | 2.32 | 2.71 | 6.95 | 3.17 | 2.73 | 3.34 | 11.66 | 6.60 |
| Feb 29, 2012 | 1.77 | — | 3.52 | 2.63 | 2.28 | 1.87 | 4.22 | 2.75 | 2.43 | 2.37 | 20.90 | 5.61 |
| Feb 24, 2011 | 2.00 | — | 3.32 | 2.23 | 2.48 | 1.73 | 4.19 | 2.65 | 2.18 | 2.27 | 7.38 | 56.82 |
| Feb 26, 2010 | 1.98 | — | 3.88 | 2.27 | 2.16 | 1.82 | 6.64 | 2.82 | 4.23 | 2.83 | 5.74 | 80.12 |
| Feb 27, 2009 | 1.44 | — | 3.44 | 1.96 | 1.30 | 1.66 | 8.03 | 2.37 | 2.14 | 1.72 | 5.17 | 28.70 |
| Feb 29, 2008 | 2.40 | — | 3.46 | 2.30 | 2.16 | 3.05 | 10.90 | 2.95 | 4.04 | 3.11 | 11.94 | 12.17 |
| Mar 1, 2007 | 5.05 | — | 5.41 | 3.07 | 2.30 | 3.80 | 12.67 | 3.53 | 4.23 | 3.67 | 19.70 | 17.58 |
| Mar 2, 2006 | 2.15 | — | 7.24 | 2.34 | 2.40 | 4.31 | 15.36 | 3.49 | 3.50 | 3.77 | 14.06 | 26.93 |
Based on: 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/S, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Thermo Fisher Scientific Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 20, 2025 | 4.73 | 5.55 |
| Feb 22, 2024 | 4.99 | 5.89 |
| Feb 23, 2023 | 4.73 | 4.56 |
| Feb 24, 2022 | 5.39 | 4.50 |
| Feb 25, 2021 | 5.52 | 4.90 |
| Feb 26, 2020 | 4.83 | 4.88 |
| Feb 27, 2019 | 4.24 | 4.54 |
| Feb 28, 2018 | 4.01 | 4.60 |
| Feb 28, 2017 | 3.37 | 4.29 |
| Feb 25, 2016 | 3.05 | 4.10 |
| Feb 26, 2015 | 3.06 | 4.54 |
| Feb 27, 2014 | 3.74 | 4.30 |
| Feb 27, 2013 | 2.12 | 3.25 |
| Feb 29, 2012 | 1.77 | 2.58 |
| Feb 24, 2011 | 2.00 | 2.44 |
| Feb 26, 2010 | 1.98 | 3.00 |
| Feb 27, 2009 | 1.44 | 2.22 |
| Feb 29, 2008 | 2.40 | 3.19 |
| Mar 1, 2007 | 5.05 | 3.88 |
| Mar 2, 2006 | 2.15 | 3.84 |
Based on: 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/S, long-term trends, comparison to industry (health care)
| Thermo Fisher Scientific Inc. | Health Care | |
|---|---|---|
| Feb 20, 2025 | 4.73 | 3.36 |
| Feb 22, 2024 | 4.99 | 3.52 |
| Feb 23, 2023 | 4.73 | 51,413.66 |
| Feb 24, 2022 | 5.39 | 3.28 |
| Feb 25, 2021 | 5.52 | 3.31 |
| Feb 26, 2020 | 4.83 | 3.21 |
| Feb 27, 2019 | 4.24 | 3.07 |
| Feb 28, 2018 | 4.01 | 3.06 |
| Feb 28, 2017 | 3.37 | 2.80 |
| Feb 25, 2016 | 3.05 | 2.72 |
| Feb 26, 2015 | 3.06 | 3.08 |
| Feb 27, 2014 | 3.74 | 2.81 |
| Feb 27, 2013 | 2.12 | 2.20 |
| Feb 29, 2012 | 1.77 | 1.90 |
| Feb 24, 2011 | 2.00 | 1.80 |
| Feb 26, 2010 | 1.98 | 2.08 |
| Feb 27, 2009 | 1.44 | 1.70 |
| Feb 29, 2008 | 2.40 | 2.42 |
| Mar 1, 2007 | 5.05 | 2.85 |
| Mar 2, 2006 | 2.15 | 3.17 |
Based on: 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).