PerpEquities

Equity · Healthcare

Thermo Fisher Scientific (TMO) perpetual futures

TMO perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade TMOUSDT.

Thermo Fisher Scientific is a global leader in scientific services, offering life sciences solutions, analytical instruments, diagnostics, and lab supplies to research and healthcare sectors.

$650.00-1.0%NYSE closed
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venue perp mark · Gate.io (TMO/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/2 live markets
Venues
2
Live markets
1/2
24h volume
$45
Open interest
$6.7K
Best liquidity
-
Tightest spread
+86.1 bps
Gate.io
Highest volume
$45
Gate.io
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $2.8B
OI / float
0.00%
Float $240.9B
Spot performance
1D-1.04%
5D+5.94%
1M+3.81%
6M+37.32%
YTD+12.43%
1Y+37.15%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
Gate.ioTradeTMO/USDTTrading$650.000.0% APR
0.000% every 8h
+86.1 bps-$45$6.7KUSDT20x
BingXTradeTMO-USDTWatchlist------USDT-

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: Gate.io

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

-
No live data-

Tightest spread

TMO

Highest volume

TMO

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 2h ago
Market cap
$242.1B
Updated 2h ago
Revenue
$46.3B
Trailing 12 months
Revenue growth
+7%
Next fiscal year
Profit margin
+15.1%
P/E
35.0
Peer P/E 24.0
Free cash flow
$7.3B
Trailing 12 months
More metrics
Net income
$7B
Trailing 12 months
P/S
5.2
Peer P/E
24.0
Similar listed perps
Revenue estimate
$47.9B
Next fiscal year
Earnings
2026-10-28
Revenue est. $12B · Updated 2h ago
Dividend
$0.47
2026-09-15

Fundamental detail

Annual + quarterly
Latest revenue$44.6B
Net margin+15.1%
Free cash flow$6.3B
Net debt$29.5B
2020$32.2B
2021$39.2B
2022$44.9B
2023$42.9B
2024$42.9B
2025$44.6B
PeriodRevenueGrowthNet incomeFCF
2020$32.2B+26%$6.4B$6.8B
2021$39.2B+22%$7.7B$7B
2022$44.9B+15%$7B$6.9B
2023$42.9B-5%$6B$6.9B
2024$42.9B0%$6.3B$7.3B
2025$44.6B+4%$6.7B$6.3B
PeriodGross marginOperating marginNet marginROEROA
2020+49.7%+24.5%+19.8%+18.5%+9.2%
2021+50.1%+26.3%+19.7%+18.9%+8.1%
2022+42.3%+19.0%+15.5%+15.8%+7.2%
2023+40.1%+17.4%+14.0%+12.8%+6.1%
2024+41.3%+17.9%+14.8%+12.8%+6.5%
2025+37.7%+18.2%+15.1%+12.6%+6.1%
PeriodCashDebtNet debtCurrent ratio
2020$10.3B$22.5B$12.2B2.13
2021$4.5B$36.3B$31.9B1.50
2022$8.5B$36.1B$27.5B1.48
2023$8.1B$36.4B$28.3B1.75
2024$4B$32.8B$28.8B1.66
2025$9.9B$39.4B$29.5B1.89
PeriodMarket capEnterprise valueP/SP/E
2020$184.4B$196.7B5.728.9
2021$262.9B$294.8B6.734.0
2022$215.9B$243.4B4.831.1
2023$204.9B$233.2B4.834.2
2024$198.7B$227.5B4.631.4
2025$217.9B$247.4B4.932.6
Q3 2024$10.6B
Q4 2024$11.4B
Q1 2025$10.4B
Q2 2025$10.9B
Q3 2025$11.1B
Q4 2025$12.2B
Q1 2026$11B
Q2 2026$12B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$10.6B0%$1.6B$1.9B
Q4 2024$11.4B+5%$1.8B$2.8B
Q1 2025$10.4B0%$1.5B$361M
Q2 2025$10.9B+3%$1.6B$1.1B
Q3 2025$11.1B+5%$1.6B$1.8B
Q4 2025$12.2B+7%$2B$3B
Q1 2026$11B+6%$1.7B$816M
Q2 2026$12B+10%$1.7B$1.7B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+41.0%+18.1%+15.4%+3.3%+1.6%
Q4 2024+39.2%+19.9%+16.1%+3.7%+1.9%
Q1 2025+41.0%+17.8%+14.5%+3.1%+1.5%
Q2 2025+37.3%+17.7%+14.9%+3.2%+1.6%
Q3 2025+41.8%+17.5%+14.5%+3.2%+1.6%
Q4 2025+38.0%+18.8%+16.2%+3.7%+1.8%
Q1 2026+40.7%+16.9%+15.0%+3.2%+1.5%
Q2 2026+41.2%+17.4%+14.5%+3.3%+1.5%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$4.6B$35.3B$30.7B1.63
Q4 2024$4B$32.8B$28.8B1.66
Q1 2025$4.1B$34.2B$30.1B1.77
Q2 2025$4.6B$35.2B$30.7B1.93
Q3 2025$2B$35.7B$33.7B1.50
Q4 2025$9.9B$39.4B$29.5B1.89
Q1 2026$3.3B$43.2B$39.9B1.53
Q2 2026$4.1B$42.5B$38.5B1.55
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$234.7B$265.4B22.136.0
Q4 2024$199.2B$227.9B17.527.2
Q1 2025$189.1B$219.1B18.231.3
Q2 2025$154.3B$185B14.223.8
Q3 2025$175.5B$209.2B15.827.1
Q4 2025$217.9B$247.4B17.827.8
Q1 2026$176.1B$216B16.026.7
Q2 2026$190.3B$228.8B15.927.4

Refreshed 2h ago

Charts: revenue, profit, cash flow & valuation
Revenue$12BQ2 2026
$3.1B$6.1B$9.2B$12.2BQ3 2023: $10.6BQ4 2023: $10.9BQ1 2024: $10.3BQ2 2024: $10.5BQ3 2024: $10.6BQ4 2024: $11.4BQ1 2025: $10.4BQ2 2025: $10.9BQ3 2025: $11.1BQ4 2025: $12.2BQ1 2026: $11BQ2 2026: $12BQ3 2023Q2 2026
Net income$1.7BQ2 2026
$493.8M$987.5M$1.5B$2BQ3 2023: $1.7BQ4 2023: $1.6BQ1 2024: $1.3BQ2 2024: $1.5BQ3 2024: $1.6BQ4 2024: $1.8BQ1 2025: $1.5BQ2 2025: $1.6BQ3 2025: $1.6BQ4 2025: $2BQ1 2026: $1.7BQ2 2026: $1.7BQ3 2023Q2 2026
EBITDA$2.6BQ2 2026
$803.8M$1.6B$2.4B$3.2BQ3 2023: $3BQ4 2023: $3BQ1 2024: $2.8BQ2 2024: $3BQ3 2024: $2.9BQ4 2024: $3.1BQ1 2025: $2.6BQ2 2025: $2.8BQ3 2025: $2.8BQ4 2025: $3.2BQ1 2026: $2.3BQ2 2026: $2.6BQ3 2023Q2 2026
Free cash flow$1.7BQ2 2026
$829.5M$1.7B$2.5B$3.3BQ3 2023: $2.1BQ4 2023: $3.3BQ1 2024: $904MQ2 2024: $1.7BQ3 2024: $1.9BQ4 2024: $2.8BQ1 2025: $361MQ2 2025: $1.1BQ3 2025: $1.8BQ4 2025: $3BQ1 2026: $816MQ2 2026: $1.7BQ3 2023Q2 2026
EPS$4.68Q2 2026
$1.3$2.61$3.91$5.21Q3 2023: $4.42Q4 2023: $4.2Q1 2024: $3.46Q2 2024: $4.04Q3 2024: $4.24Q4 2024: $4.78Q1 2025: $3.98Q2 2025: $4.28Q3 2025: $4.27Q4 2025: $5.21Q1 2026: $4.43Q2 2026: $4.68Q3 2023Q2 2026
Cash / Debt$4.1BQ2 2026
$10.8B$21.6B$32.4B$43.2BQ3 2023 · Cash: $6.2BQ3 2023 · Debt: $35.3BQ4 2023 · Cash: $8.1BQ4 2023 · Debt: $36.4BQ1 2024 · Cash: $5.5BQ1 2024 · Debt: $35.6BQ2 2024 · Cash: $7.1BQ2 2024 · Debt: $35.4BQ3 2024 · Cash: $4.6BQ3 2024 · Debt: $35.3BQ4 2024 · Cash: $4BQ4 2024 · Debt: $32.8BQ1 2025 · Cash: $4.1BQ1 2025 · Debt: $34.2BQ2 2025 · Cash: $4.6BQ2 2025 · Debt: $35.2BQ3 2025 · Cash: $2BQ3 2025 · Debt: $35.7BQ4 2025 · Cash: $9.9BQ4 2025 · Debt: $39.4BQ1 2026 · Cash: $3.3BQ1 2026 · Debt: $43.2BQ2 2026 · Cash: $4.1BQ2 2026 · Debt: $42.5BQ3 2023Q2 2026
CashDebt
Profitability+41.2%Q2 2026
+10.5%+20.9%+31.4%+41.8%Q3 2023 · Gross margin: +41.0%Q4 2023 · Gross margin: +36.3%Q1 2024 · Gross margin: +40.8%Q2 2024 · Gross margin: +41.2%Q3 2024 · Gross margin: +41.0%Q4 2024 · Gross margin: +39.2%Q1 2025 · Gross margin: +41.0%Q2 2025 · Gross margin: +37.3%Q3 2025 · Gross margin: +41.8%Q4 2025 · Gross margin: +38.0%Q1 2026 · Gross margin: +40.7%Q2 2026 · Gross margin: +41.2%Q3 2023 · Operating margin: +18.7%Q4 2023 · Operating margin: +18.3%Q1 2024 · Operating margin: +16.6%Q2 2024 · Operating margin: +16.7%Q3 2024 · Operating margin: +18.1%Q4 2024 · Operating margin: +19.9%Q1 2025 · Operating margin: +17.8%Q2 2025 · Operating margin: +17.7%Q3 2025 · Operating margin: +17.5%Q4 2025 · Operating margin: +18.8%Q1 2026 · Operating margin: +16.9%Q2 2026 · Operating margin: +17.4%Q3 2023 · Net margin: +16.2%Q4 2023 · Net margin: +15.0%Q1 2024 · Net margin: +12.8%Q2 2024 · Net margin: +14.7%Q3 2024 · Net margin: +15.4%Q4 2024 · Net margin: +16.1%Q1 2025 · Net margin: +14.5%Q2 2025 · Net margin: +14.9%Q3 2025 · Net margin: +14.5%Q4 2025 · Net margin: +16.2%Q1 2026 · Net margin: +15.0%Q2 2026 · Net margin: +14.5%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+10.5%Q2 2026
+2.6%+5.2%+7.9%+10.5%Q3 2024: +0.2%Q4 2024: +4.7%Q1 2025: +0.2%Q2 2025: +3.0%Q3 2025: +4.9%Q4 2025: +7.2%Q1 2026: +6.2%Q2 2026: +10.5%Q3 2023Q2 2026
Shares outstanding371MQ2 2026
97M194M291M388MQ3 2023: 388MQ4 2023: 388MQ1 2024: 384MQ2 2024: 383MQ3 2024: 384MQ4 2024: 383MQ1 2025: 379MQ2 2025: 378MQ3 2025: 378MQ4 2025: 377MQ1 2026: 373MQ2 2026: 371MQ3 2023Q2 2026
Valuation27.4Q2 2026
10.420.931.341.8Q3 2023 · P/E: 28.5Q4 2023 · P/E: 31.5Q1 2024 · P/E: 41.8Q2 2024 · P/E: 34.1Q3 2024 · P/E: 36.0Q4 2024 · P/E: 27.2Q1 2025 · P/E: 31.3Q2 2025 · P/E: 23.8Q3 2025 · P/E: 27.1Q4 2025 · P/E: 27.8Q1 2026 · P/E: 26.7Q2 2026 · P/E: 27.4Q3 2023 · P/S: 18.5Q4 2023 · P/S: 18.9Q1 2024 · P/S: 21.5Q2 2024 · P/S: 20.0Q3 2024 · P/S: 22.1Q4 2024 · P/S: 17.5Q1 2025 · P/S: 18.2Q2 2025 · P/S: 14.2Q3 2025 · P/S: 15.8Q4 2025 · P/S: 17.8Q1 2026 · P/S: 16.0Q2 2026 · P/S: 15.9Q3 2023Q2 2026
P/EP/S
Revenue$44.6B2025
$11.2B$22.5B$33.7B$44.9B2018: $24.4B2019: $25.5B2020: $32.2B2021: $39.2B2022: $44.9B2023: $42.9B2024: $42.9B2025: $44.6B20182025
Net income$6.7B2025
$1.9B$3.9B$5.8B$7.7B2018: $2.9B2019: $3.7B2020: $6.4B2021: $7.7B2022: $7B2023: $6B2024: $6.3B2025: $6.7B20182025
EBITDA$11.5B2025
$3B$6B$9B$12B2018: $6.2B2019: $7B2020: $10.1B2021: $12B2022: $11.9B2023: $11.2B2024: $11.8B2025: $11.5B20182025
Free cash flow$6.3B2025
$1.8B$3.6B$5.5B$7.3B2018: $3.8B2019: $4B2020: $6.8B2021: $7B2022: $6.9B2023: $6.9B2024: $7.3B2025: $6.3B20182025
EPS$17.72025
$4.87$9.73$14.6$19.52018: $7.242019: $9.172020: $162021: $19.52022: $17.62023: $15.52024: $16.52025: $17.720182025
Cash / Debt$9.9B2025
$9.8B$19.7B$29.5B$39.4B2018 · Cash: $2.1B2018 · Debt: $19B2019 · Cash: $2.4B2019 · Debt: $18.5B2020 · Cash: $10.3B2020 · Debt: $22.5B2021 · Cash: $4.5B2021 · Debt: $36.3B2022 · Cash: $8.5B2022 · Debt: $36.1B2023 · Cash: $8.1B2023 · Debt: $36.4B2024 · Cash: $4B2024 · Debt: $32.8B2025 · Cash: $9.9B2025 · Debt: $39.4B20182025
CashDebt
Profitability+37.7%2025
+12.5%+25.0%+37.6%+50.1%2018 · Gross margin: +45.1%2019 · Gross margin: +44.4%2020 · Gross margin: +49.7%2021 · Gross margin: +50.1%2022 · Gross margin: +42.3%2023 · Gross margin: +40.1%2024 · Gross margin: +41.3%2025 · Gross margin: +37.7%2018 · Operating margin: +15.9%2019 · Operating margin: +16.7%2020 · Operating margin: +24.5%2021 · Operating margin: +26.3%2022 · Operating margin: +19.0%2023 · Operating margin: +17.4%2024 · Operating margin: +17.9%2025 · Operating margin: +18.2%2018 · Net margin: +12.1%2019 · Net margin: +14.5%2020 · Net margin: +19.8%2021 · Net margin: +19.7%2022 · Net margin: +15.5%2023 · Net margin: +14.0%2024 · Net margin: +14.8%2025 · Net margin: +15.1%20182025
Gross marginOperating marginNet margin
Revenue growth+3.9%2025
+3.1%+10.8%+18.5%+26.1%2019: +4.9%2020: +26.1%2021: +21.7%2022: +14.5%2023: -4.6%2024: +0.1%2025: +3.9%20182025
Shares outstanding377M2025
101.5M203M304.5M406M2018: 406M2019: 403M2020: 399M2021: 397M2022: 394M2023: 388M2024: 383M2025: 377M20182025
Valuation32.62025
8.817.626.435.22018 · P/E: 30.62019 · P/E: 35.22020 · P/E: 28.92021 · P/E: 34.02022 · P/E: 31.12023 · P/E: 34.22024 · P/E: 31.42025 · P/E: 32.62018 · P/S: 3.72019 · P/S: 5.12020 · P/S: 5.72021 · P/S: 6.72022 · P/S: 4.82023 · P/S: 4.82024 · P/S: 4.62025 · P/S: 4.920182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-10-28
Revenue est. $12B · Updated 2h ago
Dividend
$0.47
2026-09-15

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202625.11$47.9B+7%16
FY 202727.41$50.3B+13%16
FY 202830.28$53.5B+20%6
FY 202933.98$57B+28%3
FY 203038.21$58.8B+32%2
Q1 20275.99$11.7B+7%6

Company events

6
2026-10-28EarningsActual - / Estimate 6.4-
2026-09-15Dividend$0.47-
2026-07-23EarningsActual 6.03 / Estimate 5.72Beat
2026-06-15Dividend$0.47-
2026-04-23EarningsActual 5.44 / Estimate 5.25Beat
2026-03-13Dividend$0.47-

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering TMO have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings125362
Analysts3346
Buy / hold / sell110 / 15 / 0312 / 50 / 0
Upgrades / downgrades / initiations4 / 1 / 910 / 7 / 18
Price targets hit / missed79 / 31 (72%)255 / 77 (77%)
Avg. return after a rating (TipRanks)+5.0%+8.2%
Best / worst call+34.4% / -12.2%+46.3% / -14.2%

After buy calls on this stock: median 21-day move +1.6% vs S&P 500 -0.6% (n = 306)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Vijay KumarEvercore ISI89% hit rate on this stock · 9 targets measuredBuytarget $570Jul 6, 2026
  2. Catherine Ramsey SchulteRobert W. Baird73% hit rate on this stock · 15 targets measuredBuytarget $639Apr 24, 2026
  3. Puneet SoudaLeerink Partners67% hit rate on this stock · 12 targets measuredBuytarget $580Oct 23, 2025

Latest ratings

DateAnalystCallTarget
Sep 17, 2026Evan StamplerWells FargoBuyMaintained$660
Sep 15, 2026Daniel AriasStifel NicolausBuyMaintained
Sep 9, 2026Eve BursteinBernsteinHoldMaintained$575
Sep 8, 2026Unknown AnalystUBSBuyUpgraded$730
Sep 8, 2026Doug SchenkelWolfe ResearchBuyInitiated$730
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$500$550$600$650Oct 25 · Buy 20 · Hold 4 · Sell 0Oct 25Nov 25 · Buy 20 · Hold 4 · Sell 0Dec 25 · Buy 25 · Hold 1 · Sell 0Dec 25Jan 26 · Buy 23 · Hold 1 · Sell 0Feb 26 · Buy 23 · Hold 1 · Sell 0Feb 26Mar 26 · Buy 21 · Hold 1 · Sell 0Apr 26 · Buy 18 · Hold 2 · Sell 0Apr 26May 26 · Buy 20 · Hold 2 · Sell 0Jun 26 · Buy 18 · Hold 5 · Sell 0Jun 26Jul 26 · Buy 20 · Hold 5 · Sell 0Aug 26 · Buy 20 · Hold 5 · Sell 0Aug 26Sep 26 · Buy 23 · Hold 5 · Sell 0Oct 25 · avg. target $604Nov 25 · avg. target $604Dec 25 · avg. target $629Jan 26 · avg. target $649Feb 26 · avg. target $652Mar 26 · avg. target $658Apr 26 · avg. target $631May 26 · avg. target $620Jun 26 · avg. target $589Jul 26 · avg. target $613Aug 26 · avg. target $615Sep 26 · avg. target $630Oct 25 · month-end close $567Nov 25 · month-end close $591Dec 25 · month-end close $579Jan 26 · month-end close $579Feb 26 · month-end close $521Mar 26 · month-end close $492Apr 26 · month-end close $479May 26 · month-end close $493Jun 26 · month-end close $501Jul 26 · month-end close $574Aug 26 · month-end close $617Sep 26 · month-end close $658

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data via FMP · computed Sep 18, 2026 · 125 ratings

Frequently asked questions

Where can I trade TMO perpetual futures?

Thermo Fisher Scientific (TMO) perpetual futures trade on 1 crypto venues, including Gate.io. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade TMO around the clock?

Yes. Unlike the underlying stock, TMO perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on TMO perpetuals?

Right now the TMO perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the TMO perp price compare to the Thermo Fisher Scientific stock?

The venue-median TMO perp mark is $650 versus a reference stock price of $650, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a TMO perpetual future?

A TMO perpetual is a derivative that tracks the price of Thermo Fisher Scientific with no expiry date. It lets you take long or short exposure to Thermo Fisher Scientific on crypto venues, around the clock.

What is TMOUSDT perpetual?

TMOUSDT is the symbol most crypto exchanges use for the Thermo Fisher Scientific perpetual settled in USDT (Tether). It tracks the TMO share price through an index, trades 24/7 with leverage and never expires.

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