TMO Thermo Fisher Scientific
fair · 65
Owner-earnings value$295.39
Price$652.51
Margin of safety
-54.7%
Quality gate · 65/100
Median ROIC9.2%
Gross margin40.8%
Net debt / EBITDA2.5x
FCF conversion105%
Share count / yr-1.2%
Profitable years4/4
Moat & management
Owner-earnings inputs
| Owner earnings (TTM) | 7.32B |
| Owner-earnings yield | 3.0% |
| Free-cash-flow yield | 3.0% |
| Growth used (normalized) | 0.0% |
| Market-implied growth (reverse DCF) | 19.4% |
| Terminal growth | 3.0% |
| Discount rate (hurdle) | 9.1% |
Projected owner earnings
| Yr | Owner earnings | Growth | PV |
|---|---|---|---|
| 1 | 7.32B | 0.0% | 6.71B |
| 2 | 7.34B | 0.3% | 6.17B |
| 3 | 7.39B | 0.7% | 5.69B |
| 4 | 7.47B | 1.0% | 5.27B |
| 5 | 7.56B | 1.3% | 4.90B |
| 6 | 7.69B | 1.7% | 4.57B |
| 7 | 7.84B | 2.0% | 4.27B |
| 8 | 8.03B | 2.3% | 4.01B |
| 9 | 8.24B | 2.7% | 3.77B |
| 10 | 8.49B | 3.0% | 3.56B |
⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~19%/yr owner-earnings growth over 10y (reverse DCF); model credits 0%.