Danaher (DHR) vs Thermo Fisher Scientific (TMO)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Thermo Fisher Scientific (TMO) has outperformed Danaher (DHR) over the past year, gaining 22.8% versus a gain of 4.7%. Over five years, TMO leads with a +13.7% price change compared with -18.2% for DHR. Thermo Fisher Scientific is the larger company by market cap ($244.79 billion vs $153.60 billion), about 1.6 times the size.
On valuation, Danaher trades at a lower forward P/E (23.5x vs 24.0x for Thermo Fisher Scientific). Danaher offers the higher dividend yield (0.66% vs 0.27%). Thermo Fisher Scientific converts more of its revenue into profit, with a net margin of 15.0% versus 14.7%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | DHR | TMO |
|---|---|---|
| Share price | $218.49 | $662.06 |
| Market cap | $153.60B | $244.79B |
| 1-day change | +1.34% | +0.83% |
| YTD return | -4.56% | +14.26% |
| 1-year return | +4.66% | +22.79% |
| 5-year return | -18.22% | +13.68% |
| P/E ratio (TTM) | 38.47 | 35.35 |
| Forward P/E | 23.50 | 24.02 |
| EPS (TTM) | $5.68 | $18.73 |
| Dividend yield | 0.66% | 0.27% |
| Annual dividend | $1.44 | $1.80 |
| Revenue (latest FY) | $24.57B | $44.56B |
| Revenue growth (YoY) | +2.90% | +3.91% |
| Net income (latest FY) | $3.61B | $6.70B |
| Gross margin | 59.11% | — |
| Operating margin | 19.09% | 17.38% |
| Net margin | 14.71% | 15.05% |
| 52-week high | $242.80 | $694.33 |
| 52-week low | $160.93 | $435.27 |
| Distance from 52-week high | -10.01% | -4.65% |
| Analyst consensus | strong_buy | strong_buy |
| Avg. price target upside | +9.41% | +0.47% |
| Average volume | 4.71M | 2.07M |
| Shares outstanding | 702.99M | 369.75M |
| Employees | 58,000 | 125,000 |
| Sector | Healthcare | Industrials |
| Industry | Diagnostics & Research | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- TMO has outperformed DHR by 18.1 percentage points over the past year.
- The two companies sit in different sectors: Danaher in Healthcare and Thermo Fisher Scientific in Industrials.
About Danaher
DHR stock →Danaher Corporation designs, manufactures, and markets professional, medical, research, and industrial products and services in the United States, China, and internationally. The company operates through Biotechnology, Life Sciences, and Diagnostics segments.
Healthcare · Diagnostics & Research · 58,000 employees
About Thermo Fisher Scientific
TMO stock →Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services internationally.
Industrials · Industrial Machinery/Components · 125,000 employees
DHR vs TMO FAQ
Which is bigger, Danaher or Thermo Fisher Scientific?
Thermo Fisher Scientific (TMO) is larger, with a market capitalization of $244.79B compared with $153.60B for Danaher (DHR).
Which stock has performed better over the past year, DHR or TMO?
TMO returned +22.79% over the past 12 months, compared with +4.66% for DHR (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, DHR or TMO?
TMO has the lower trailing P/E at 35.3, versus 38.5 for DHR. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Danaher or Thermo Fisher Scientific?
Danaher has the higher yield at 0.66%, compared with 0.27% for Thermo Fisher Scientific.
Are Danaher and Thermo Fisher Scientific in the same industry?
No. Danaher is in the Healthcare sector, while Thermo Fisher Scientific is in Industrials.