Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Thermo Fisher Scientific Inc. (NYSE:TMO)

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Enterprise Value to EBITDA (EV/EBITDA)

Intermediate level

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Thermo Fisher Scientific Inc., EBITDA calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income
Less: Loss from discontinued operations, net of income tax
Add: Income tax expense
Earnings before tax (EBT)
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Depreciation of property, plant and equipment
Add: Amortization of acquisition-related intangible assets
Earnings before interest, tax, depreciation and amortization (EBITDA)

Based on: 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-25).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. Thermo Fisher Scientific Inc.’s EBITDA increased from 2017 to 2018 and from 2018 to 2019.

Enterprise Value to EBITDA Ratio, Current

Thermo Fisher Scientific Inc., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Earnings before interest, tax, depreciation and amortization (EBITDA)
Valuation Ratio
EV/EBITDA
Benchmarks
EV/EBITDA, Competitors1
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
EV/EBITDA, Sector
Health Care Equipment & Services
EV/EBITDA, Industry
Health Care

Based on: 10-K (filing date: 2020-02-26).

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

Thermo Fisher Scientific Inc., historical EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Earnings before interest, tax, depreciation and amortization (EBITDA)2
Valuation Ratio
EV/EBITDA3
Benchmarks
EV/EBITDA, Competitors4
Becton, Dickinson & Co.
Boston Scientific Corp.
Danaher Corp.
Edwards Lifesciences Corp.
Intuitive Surgical Inc.
Medtronic PLC
Stryker Corp.
UnitedHealth Group Inc.
EV/EBITDA, Sector
Health Care Equipment & Services
EV/EBITDA, Industry
Health Care

Based on: 10-K (filing date: 2020-02-26), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-25).

1 See details »

2 See details »

3 2019 Calculation
EV/EBITDA = EV ÷ EBITDA
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. Thermo Fisher Scientific Inc.’s EV/EBITDA ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.