Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Based on: 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).
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. EBITDA decreased from 2021 to 2022 and from 2022 to 2023. |
Enterprise Value to EBITDA Ratio, Current
Selected Financial Data (US$ in millions) | |
Enterprise value (EV) | 254,850) |
Earnings before interest, tax, depreciation and amortization (EBITDA) | 11,020) |
Valuation Ratio | |
EV/EBITDA | 23.13 |
Benchmarks | |
EV/EBITDA, Competitors1 | |
AbbVie Inc. | 22.69 |
Amgen Inc. | 15.55 |
Bristol-Myers Squibb Co. | 6.89 |
Danaher Corp. | 27.72 |
Eli Lilly & Co. | 106.01 |
Gilead Sciences Inc. | 11.76 |
Johnson & Johnson | 16.94 |
Merck & Co. Inc. | 44.33 |
Moderna Inc. | — |
Pfizer Inc. | 23.51 |
Regeneron Pharmaceuticals Inc. | 22.12 |
EV/EBITDA, Sector | |
Pharmaceuticals, Biotechnology & Life Sciences | 25.30 |
EV/EBITDA, Industry | |
Health Care | 20.60 |
Based on: 10-K (reporting date: 2023-12-31).
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
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Enterprise value (EV)1 | 240,551) | 238,371) | 241,765) | 189,206) | 138,655) | |
Earnings before interest, tax, depreciation and amortization (EBITDA)2 | 11,020) | 11,770) | 11,965) | 10,105) | 7,025) | |
Valuation Ratio | ||||||
EV/EBITDA3 | 21.83 | 20.25 | 20.21 | 18.72 | 19.74 | |
Benchmarks | ||||||
EV/EBITDA, Competitors4 | ||||||
AbbVie Inc. | 20.79 | 13.31 | 13.44 | 21.34 | 13.68 | |
Amgen Inc. | 14.13 | 12.97 | 13.22 | 12.24 | 12.26 | |
Bristol-Myers Squibb Co. | 6.51 | 9.46 | 8.65 | 34.35 | 23.84 | |
Danaher Corp. | 26.41 | 18.42 | 21.05 | 26.68 | 25.23 | |
Eli Lilly & Co. | 85.33 | 37.74 | 29.85 | 23.67 | 21.40 | |
Gilead Sciences Inc. | 10.41 | 13.89 | 8.57 | 24.90 | 11.77 | |
Johnson & Johnson | 16.45 | 14.78 | 14.47 | 18.20 | 16.28 | |
Merck & Co. Inc. | 51.30 | 13.91 | 12.18 | 16.05 | 13.66 | |
Moderna Inc. | — | 4.52 | 3.77 | — | — | |
Pfizer Inc. | 22.50 | 6.12 | 8.64 | 15.78 | 9.17 | |
Regeneron Pharmaceuticals Inc. | 20.16 | 15.27 | 6.68 | 12.70 | 14.80 | |
EV/EBITDA, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 23.42 | 13.10 | 12.43 | 19.64 | 14.94 | |
EV/EBITDA, Industry | ||||||
Health Care | 19.08 | 13.35 | 13.31 | 16.61 | 14.16 |
Based on: 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).
3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 240,551 ÷ 11,020 = 21.83
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. EV/EBITDA ratio increased from 2021 to 2022 and from 2022 to 2023. |