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Thermo Fisher Scientific Inc. (TMO)


Price to FCFE (P/FCFE)

Difficulty: Intermediate


Free Cash Flow to Equity (FCFE)

Thermo Fisher Scientific Inc., FCFE calculation

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net income hidden hidden hidden hidden hidden
Net noncash charges hidden hidden hidden hidden hidden
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions hidden hidden hidden hidden hidden
Net cash provided by operating activities hidden hidden hidden hidden hidden
Purchase of property, plant and equipment hidden hidden hidden hidden hidden
Proceeds from sale of property, plant and equipment hidden hidden hidden hidden hidden
Net proceeds from issuance of debt hidden hidden hidden hidden hidden
Repayment of debt hidden hidden hidden hidden hidden
Proceeds from issuance of commercial paper hidden hidden hidden hidden hidden
Repayments of commercial paper hidden hidden hidden hidden hidden
Increase in short-term notes payable hidden hidden hidden hidden hidden
Free cash flow to equity (FCFE) hidden hidden hidden hidden hidden

Based on: 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), 10-K (filing date: 2015-02-26).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Thermo Fisher Scientific Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Thermo Fisher Scientific Inc.’s FCFE declined from 2016 to 2017 and from 2017 to 2018.

Price to FCFE Ratio, Current

Thermo Fisher Scientific Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
No. shares of common stock outstanding hidden
Selected Financial Data (USD $)
Free cash flow to equity (FCFE) (in millions) hidden
FCFE per share hidden
Current share price (P) hidden
Ratio
P/FCFE hidden
Benchmarks
P/FCFE, Competitors
Becton, Dickinson & Co. hidden
Intuitive Surgical Inc. hidden
Medtronic PLC hidden
Stryker Corp. hidden
UnitedHealth Group Inc. hidden
P/FCFE, Sector
Health Care Equipment & Services hidden
P/FCFE, Industry
Health Care hidden

Based on: 10-K (filing date: 2019-02-27).

If company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.

Otherwise, if company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Thermo Fisher Scientific Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
No. shares of common stock outstanding1 hidden hidden hidden hidden hidden
Selected Financial Data (USD $)
Free cash flow to equity (FCFE) (in millions)2 hidden hidden hidden hidden hidden
FCFE per share4 hidden hidden hidden hidden hidden
Share price1, 3 hidden hidden hidden hidden hidden
Ratio
P/FCFE5 hidden hidden hidden hidden hidden
Benchmarks
P/FCFE, Competitors
Becton, Dickinson & Co. hidden hidden hidden hidden hidden
Intuitive Surgical Inc. hidden hidden hidden hidden hidden
Medtronic PLC hidden hidden hidden hidden hidden
Stryker Corp. hidden hidden hidden hidden hidden
UnitedHealth Group Inc. hidden hidden hidden hidden hidden
P/FCFE, Sector
Health Care Equipment & Services hidden hidden hidden hidden hidden
P/FCFE, Industry
Health Care hidden hidden hidden hidden hidden

Based on: 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), 10-K (filing date: 2015-02-26).

1 Data adjusted for splits and stock dividends.

2 See Details »

3 Close price on the filing date of Thermo Fisher Scientific Inc.’s Annual Report.

2018 Calculations

4 FCFE per share = FCFE ÷ No. shares of common stock outstanding
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5 P/FCFE = Share price ÷ FCFE per share
= hidden ÷ hidden = hidden

Ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Thermo Fisher Scientific Inc.’s P/FCFE ratio increased from 2016 to 2017 and from 2017 to 2018.