Stock Analysis on Net
Stock Analysis on Net
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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

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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.