TMO P/B: current value, 10-year range and year-by-year history
Cash & Leverage
TMO's p/b is right around its 10-year median of 4.3.
P/B History
TMO P/B by year
Yearly range of TMO’s p/b from 2016 to 2026. Over the full period it ranged from 2.6 to 6.8, averaging 4.3.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 3.1 | 3.7 | 4.5 | 4.3 |
| 2025 | 3.0 | 3.8 | 4.7 | 4.1 |
| 2024 | 3.9 | 4.6 | 5.0 | 4.0 |
| 2023 | 3.7 | 4.7 | 5.4 | 4.5 |
| 2022 | 4.4 | 5.2 | 6.3 | 5.0 |
| 2021 | 5.0 | 5.8 | 6.8 | 6.5 |
| 2020 | 3.5 | 5.1 | 6.6 | 5.4 |
| 2019 | 3.1 | 4.0 | 4.5 | 4.4 |
| 2018 | 3.1 | 3.4 | 3.8 | 3.3 |
| 2017 | 2.6 | 3.0 | 3.4 | 3.1 |
| 2016 | 2.6 | 2.7 | 3.0 | 2.6 |
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How much the market pays relative to the company's accounting net worth (assets minus liabilities). P/B < 1 means the market values the company below what the books say it owns.
Price / Book Value Per ShareMost useful for asset-heavy businesses: banks, insurers, REITs. A P/B near its historical low suggests the market is paying unusually little for the net assets.
- Goodwill and intangibles from acquisitions can inflate book value significantly — some analysts prefer tangible book value.
- Low P/B in technology or software companies is usually irrelevant: their value is in IP and people, not balance sheet assets.
Is TMO P/B High or Low Right Now?
Thermo Fisher Scientific Inc.'s P/B is currently 4.3, which is around average relative to its 10-year historical range. The 10-year median P/B for TMO is approximately 4.3. See all TMO valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.