Eaton (ETN) vs Thermo Fisher Scientific (TMO)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
Thermo Fisher Scientific (TMO) has outperformed Eaton (ETN) over the past year, gaining 22.8% versus a gain of 16.3%. Over five years, ETN leads with a +167.2% price change compared with +13.7% for TMO. Thermo Fisher Scientific is the larger company by market cap ($244.79 billion vs $167.53 billion), about 1.5 times the size, while Eaton is growing revenue faster (+10.3% vs +3.9%).
On valuation, Thermo Fisher Scientific trades at a lower forward P/E (24.0x vs 26.5x for Eaton). Eaton offers the higher dividend yield (0.99% vs 0.27%). Thermo Fisher Scientific converts more of its revenue into profit, with a net margin of 15.0% versus 14.9%.
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 | ETN | TMO |
|---|---|---|
| Share price | $431.33 | $662.06 |
| Market cap | $167.53B | $244.79B |
| 1-day change | -3.09% | +0.83% |
| YTD return | +35.42% | +14.26% |
| 1-year return | +16.28% | +22.79% |
| 5-year return | +167.16% | +13.68% |
| P/E ratio (TTM) | 43.88 | 35.63 |
| Forward P/E | 26.55 | 24.02 |
| EPS (TTM) | $9.83 | $18.58 |
| Dividend yield | 0.99% | 0.27% |
| Annual dividend | $4.28 | $1.80 |
| Revenue (latest FY) | $27.45B | $44.56B |
| Revenue growth (YoY) | +10.33% | +3.91% |
| Net income (latest FY) | $4.09B | $6.70B |
| Gross margin | 37.59% | — |
| Operating margin | — | 17.38% |
| Net margin | 14.89% | 15.05% |
| 52-week high | $478.00 | $694.33 |
| 52-week low | $311.92 | $435.27 |
| Distance from 52-week high | -9.76% | -4.65% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +11.64% | +0.47% |
| Average volume | 2.08M | 2.07M |
| Shares outstanding | 388.40M | 369.75M |
| Employees | 97,303 | 125,000 |
| Sector | Technology | Industrials |
| Industry | Industrial Machinery/Components | 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
- Eaton grew revenue faster in its latest fiscal year (+10.33% vs +3.91%).
- The two companies sit in different sectors: Eaton in Technology and Thermo Fisher Scientific in Industrials.
About Eaton
ETN stock →Eaton Corporation plc operates as a power management company in the United States, Canada, Latin America, Europe, and the Asia Pacific. It operates through Electrical Americas, Electrical Global, Aerospace, Vehicle, and eMobility segments.
Technology · Industrial Machinery/Components · 97,303 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
ETN vs TMO FAQ
Which is bigger, Eaton or Thermo Fisher Scientific?
Thermo Fisher Scientific (TMO) is larger, with a market capitalization of $244.79B compared with $167.53B for Eaton (ETN).
Which stock has performed better over the past year, ETN or TMO?
TMO returned +22.79% over the past 12 months, compared with +16.28% for ETN (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ETN or TMO?
TMO has the lower trailing P/E at 35.6, versus 43.9 for ETN. 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, Eaton or Thermo Fisher Scientific?
Eaton has the higher yield at 0.99%, compared with 0.27% for Thermo Fisher Scientific.
Are Eaton and Thermo Fisher Scientific in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Technology sector.