DHR vs. TMO
DHR (Danaher Corporation) and TMO (Thermo Fisher Scientific Inc.) are both stocks. Both operate in the Diagnostics & Research industry within the Healthcare sector. Over the past 10 years, DHR returned 11.08%/yr vs 14.21%/yr for TMO. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
DHR vs. TMO - Performance Comparison
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Returns By Period
In the year-to-date period, DHR achieves a -14.47% return, which is significantly lower than TMO's -0.69% return. Over the past 10 years, DHR has underperformed TMO with an annualized return of 11.08%, while TMO has yielded a comparatively higher 14.21% annualized return.
DHR
- 1D
- -0.61%
- 1M
- -1.49%
- 6M
- -10.55%
- YTD
- -14.47%
- 1Y
- -0.34%
- 3Y*
- -4.26%
- 5Y*
- -5.40%
- 10Y*
- 11.08%
- ALL TIME*
- 18.08%
TMO
- 1D
- -0.43%
- 1M
- 9.72%
- 6M
- -0.55%
- YTD
- -0.69%
- 1Y
- 24.48%
- 3Y*
- 2.03%
- 5Y*
- 1.52%
- 10Y*
- 14.21%
- ALL TIME*
- 12.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.81B | $1.26B | $962.73M | |
| $1.57B | $1.22B | $1.19B |
DHR vs. TMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHR Danaher Corporation | -14.47% | 0.35% | -0.35% | -1.22% | -19.02% | 48.57% | 45.34% | 49.55% | 11.80% | 20.01% |
TMO Thermo Fisher Scientific Inc. | -0.69% | 11.78% | -1.72% | -3.36% | -17.29% | 43.54% | 43.72% | 45.55% | 18.21% | 35.03% |
Correlation
The correlation between DHR and TMO is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 1987 | 0.45 |
Over the past year, DHR and TMO have become more correlated (0.74) than their long-term average of 0.45, meaning their price movements have been converging.
Fundamentals
DHR:
$137.13B
TMO:
$213.42B
DHR:
$5.63
TMO:
$18.62
DHR:
34.62
TMO:
30.84
DHR:
5.52
TMO:
4.64
DHR:
2.62
TMO:
4.04
DHR:
$25.11B
TMO:
$46.34B
DHR:
$14.69B
TMO:
$18.71B
DHR:
$6.43B
TMO:
$10.94B
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Return for Risk
DHR vs. TMO — Risk / Return Rank
DHR
TMO
DHR vs. TMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Danaher Corporation (DHR) and Thermo Fisher Scientific Inc. (TMO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DHR | TMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.16 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.74 | -0.76 |
| Martin ratioReturn relative to average drawdown | -0.02 | 1.46 | -1.49 |
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Drawdowns
DHR vs. TMO - Drawdown Comparison
The maximum DHR drawdown since its inception was -45.80%, smaller than the maximum TMO drawdown of -71.16%. Use the drawdown chart below to compare losses from any high point for DHR and TMO.
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Drawdown Indicators
| DHR | TMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.80% | -71.16% | +25.36% |
Max Drawdown (1Y)Largest decline over 1 year | -32.97% | -31.38% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -41.72% | -37.28% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -43.81% | -40.95% | -2.86% |
Max Drawdown (10Y)Largest decline over 10 years | -43.81% | -40.95% | -2.86% |
Current DrawdownCurrent decline from peak | -32.19% | -12.79% | -19.40% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -18.12% | +7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.66% | 15.94% | -0.28% |
Volatility
DHR vs. TMO - Volatility Comparison
Danaher Corporation (DHR) has a higher volatility of 15.48% compared to Thermo Fisher Scientific Inc. (TMO) at 10.24%. This indicates that DHR's price experiences larger fluctuations and is considered to be riskier than TMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHR | TMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.48% | 10.24% | +5.24% |
Volatility (6M)Calculated over the trailing 6-month period | 24.23% | 24.17% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.20% | 30.65% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.76% | 27.64% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.01% | 26.57% | -0.56% |
Dividends
DHR vs. TMO - Dividend Comparison
DHR's dividend yield for the trailing twelve months is around 0.74%, more than TMO's 0.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHR Danaher Corporation | 0.74% | 0.56% | 0.47% | 12.64% | 0.38% | 0.26% | 0.32% | 0.44% | 0.62% | 0.60% | 32.55% | 0.58% |
TMO Thermo Fisher Scientific Inc. | 0.31% | 0.30% | 0.30% | 0.26% | 0.22% | 0.16% | 0.19% | 0.23% | 0.30% | 0.32% | 0.43% | 0.42% |
Financials
DHR vs. TMO - Financials Comparison
This section allows you to compare key financial metrics between Danaher Corporation and Thermo Fisher Scientific Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
DHR vs. TMO - Profitability Comparison
DHR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Danaher Corporation reported a gross profit of 3.61B and revenue of 6.27B. Therefore, the gross margin over that period was 57.6%.
TMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Thermo Fisher Scientific Inc. reported a gross profit of 4.94B and revenue of 11.99B. Therefore, the gross margin over that period was 41.2%.
DHR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Danaher Corporation reported an operating income of 1.13B and revenue of 6.27B, resulting in an operating margin of 18.0%.
TMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Thermo Fisher Scientific Inc. reported an operating income of 2.09B and revenue of 11.99B, resulting in an operating margin of 17.4%.
DHR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Danaher Corporation reported a net income of 870.00M and revenue of 6.27B, resulting in a net margin of 13.9%.
TMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Thermo Fisher Scientific Inc. reported a net income of 1.74B and revenue of 11.99B, resulting in a net margin of 14.5%.
Frequently Asked Questions
DHR and TMO have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DHR has higher volatility (15.48%) compared to TMO (10.24%). In terms of maximum drawdown, DHR dropped -45.80% vs TMO's -71.16%.
TMO currently has the higher Sharpe Ratio (0.76 vs -0.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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