Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

Enterprise Value (EV)

Intermediate level


Current Enterprise Value (EV)

Thermo Fisher Scientific Inc., current enterprise value calculation

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Current share price (P) $422.29
No. shares of common stock outstanding 395,589,400
US$ in millions
Common equity (market value)1 167,053 
Add: Preferred stock, $100 par value; none issued (per books) — 
Total equity 167,053 
Add: Short-term obligations and current maturities of long-term obligations (per books) 676 
Add: Long-term obligations, excluding current maturities (per books) 17,076 
Total equity and debt 184,805 
Less: Cash and cash equivalents 2,399 
Enterprise value (EV) 182,406 

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

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 422.29 × 395,589,400


Historical Enterprise Value (EV)

Thermo Fisher Scientific Inc., EV calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Share price1, 2 $309.16 $259.14 $208.58 $157.68 $130.57
No. shares of common stock outstanding1 398,828,389 399,003,681 401,784,066 390,391,061 396,261,928
US$ in millions
Common equity (market value)3 123,302  103,398  83,804  61,557  51,740 
Add: Preferred stock, $100 par value; none issued (book value) —  —  —  —  — 
Total equity 123,302  103,398  83,804  61,557  51,740 
Add: Short-term obligations and current maturities of long-term obligations (book value) 676  1,271  2,135  1,256  1,053 
Add: Long-term obligations, excluding current maturities (book value) 17,076  17,719  18,873  15,372  11,474 
Total equity and debt 141,054  122,388  104,812  78,185  64,267 
Less: Cash and cash equivalents 2,399  2,103  1,335  786  452 
Enterprise value (EV) 138,655  120,285  103,477  77,399  63,815 

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Thermo Fisher Scientific Inc.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 309.16 × 398,828,389

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Thermo Fisher Scientific Inc.’s EV increased from 2017 to 2018 and from 2018 to 2019.