DANAHER CORPORATION vs THERMO FISHER SCIENTIFIC INC., two Scientific Instruments stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Where DHR and TMO diverge most: on return on equity, DHR reads 7.6% and TMO reads 13.2%; on debt / equity, DHR reads 0.53 and TMO reads 0.87. The rest of the comparable metrics sit closer together. On valuation, today's DHR price has a different growth bar priced in than TMO (+24.0% implied for DHR vs +23.3% for TMO); the higher figure is the steeper assumption to clear, not a better or worse stock. What DHR's price implies is a bet that sits within the historical range (whole-company basis). What TMO's price implies is a bet that sits within the historical range (whole-company basis). The bull and bear cases for each are in their full reports below.
| Metric | DHR | TMO |
|---|---|---|
| Price | $195.01 | $574.39 |
| Market cap | $138.0B | $213.1B |
| Sector | Scientific Instruments | Scientific Instruments |
| Stage | Mature | Mature |
| Implied growth (priced in) | +24.0% | +23.3% |
| P/E | 34.6 | 30.9 |
| P/B | 2.62 | 4.04 |
| P/S | 5.50 | 4.60 |
| EV/EBITDA | 28.1 | 27.4 |
| Revenue growth | +4.5% | +7.2% |
| Gross margin | 57.6% | — |
| Operating margin | 18.0% | 17.4% |
| Net margin | 15.9% | 15.0% |
| Return on equity | 7.6% | 13.2% |
| Return on assets | 4.3% | 6.2% |
| Return on invested capital | 5.1% | 6.5% |
| FCF yield | 4.0% | 3.4% |
| Dividend yield | — | 0.3% |
| Debt / equity | 0.53 | 0.87 |
| Current ratio | 1.65 | 1.55 |
| Altman Z (solvency) | 7.11 | 7.33 |
| Piotroski F (quality) | 5 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.