Labcorp (LH) 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 Labcorp (LH) over the past year, gaining 22.8% versus a gain of 11.6%. Over five years, LH leads with a +33.7% price change compared with +13.7% for TMO. Thermo Fisher Scientific is the larger company by market cap ($241.07 billion vs $25.48 billion), about 9.5 times the size, while Labcorp is growing revenue faster (+7.2% vs +3.9%).
On valuation, Labcorp trades at a lower forward P/E (15.9x vs 23.6x for Thermo Fisher Scientific). Labcorp offers the higher dividend yield (0.92% vs 0.28%). Thermo Fisher Scientific converts more of its revenue into profit, with a net margin of 15.0% versus 6.3%.
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 | LH | TMO |
|---|---|---|
| Share price | $314.20 | $651.98 |
| Market cap | $25.48B | $241.07B |
| 1-day change | +0.71% | -1.52% |
| YTD return | +24.35% | +14.26% |
| 1-year return | +11.57% | +22.79% |
| 5-year return | +33.70% | +13.68% |
| P/E ratio (TTM) | 25.99 | 35.09 |
| Forward P/E | 15.86 | 23.64 |
| EPS (TTM) | $12.09 | $18.58 |
| Dividend yield | 0.92% | 0.28% |
| Annual dividend | $2.88 | $1.80 |
| Revenue (latest FY) | $13.95B | $44.56B |
| Revenue growth (YoY) | +7.25% | +3.91% |
| Net income (latest FY) | $876.50M | $6.70B |
| Gross margin | 28.76% | — |
| Operating margin | 9.92% | 17.38% |
| Net margin | 6.28% | 15.05% |
| 52-week high | $341.80 | $694.33 |
| 52-week low | $244.52 | $435.27 |
| Distance from 52-week high | -8.07% | -6.10% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +9.54% | +2.02% |
| Average volume | 737.41K | 2.07M |
| Shares outstanding | 81.10M | 369.75M |
| Employees | 71,000 | 125,000 |
| Sector | Health Care | Industrials |
| Industry | Medical Specialities | 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
- Thermo Fisher Scientific is about 9.5 times larger than Labcorp by market value ($241.07B vs $25.48B).
- TMO has outperformed LH by 11.2 percentage points over the past year.
- Thermo Fisher Scientific trades at a higher earnings multiple (35.1x vs 26.0x trailing P/E).
- Thermo Fisher Scientific is more profitable, keeping 15.0 cents of every revenue dollar as net income versus 6.3 cents for Labcorp.
- The two companies sit in different sectors: Labcorp in Health Care and Thermo Fisher Scientific in Industrials.
About Labcorp
LH stock →Labcorp Holdings Inc. provides laboratory services.
Health Care · Medical Specialities · 71,000 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
LH vs TMO FAQ
Which is bigger, Labcorp or Thermo Fisher Scientific?
Thermo Fisher Scientific (TMO) is larger, with a market capitalization of $241.07B compared with $25.48B for Labcorp (LH).
Which stock has performed better over the past year, LH or TMO?
TMO returned +22.79% over the past 12 months, compared with +11.57% for LH (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, LH or TMO?
LH has the lower trailing P/E at 26.0, versus 35.1 for TMO. 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, Labcorp or Thermo Fisher Scientific?
Labcorp has the higher yield at 0.92%, compared with 0.28% for Thermo Fisher Scientific.
Are Labcorp and Thermo Fisher Scientific in the same industry?
No. Labcorp is in the Health Care sector, while Thermo Fisher Scientific is in Industrials.