TMO vs. CVS
TMO (Thermo Fisher Scientific Inc.) and CVS (CVS Health Corporation) are both stocks. Both are in the Healthcare sector — TMO in Diagnostics & Research, CVS in Healthcare Plans. Over the past 10 years, TMO returned 12.28%/yr vs 3.16%/yr for CVS. At a 0.25 correlation, their price movements are largely independent.
Performance
TMO vs. CVS - Performance Comparison
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Returns By Period
In the year-to-date period, TMO achieves a -18.87% return, which is significantly lower than CVS's 24.42% return. Over the past 10 years, TMO has outperformed CVS with an annualized return of 12.28%, while CVS has yielded a comparatively lower 3.16% annualized return.
TMO
- 1D
- -0.67%
- 1M
- 1.00%
- YTD
- -18.87%
- 6M
- -17.21%
- 1Y
- 17.28%
- 3Y*
- -2.93%
- 5Y*
- 1.21%
- 10Y*
- 12.28%
CVS
- 1D
- 1.20%
- 1M
- 7.21%
- YTD
- 24.42%
- 6M
- 29.02%
- 1Y
- 58.27%
- 3Y*
- 14.98%
- 5Y*
- 6.17%
- 10Y*
- 3.16%
TMO vs. CVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMO Thermo Fisher Scientific Inc. | -18.87% | 11.78% | -1.72% | -3.36% | -17.29% | 43.54% | 43.72% | 45.55% | 18.21% | 35.03% |
CVS CVS Health Corporation | 24.42% | 84.35% | -40.77% | -12.53% | -7.63% | 54.87% | -5.14% | 17.26% | -7.04% | -5.75% |
Correlation
The correlation between TMO and CVS is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 1987 | 0.25 |
Over the past year, the correlation between TMO and CVS has dropped to 0.03 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
Fundamentals
TMO:
$175.17B
CVS:
$124.17B
TMO:
$18.22
CVS:
$2.30
TMO:
25.78
CVS:
42.17
TMO:
3.91
CVS:
0.30
TMO:
3.37
CVS:
1.60
TMO:
$45.20B
CVS:
$407.91B
TMO:
$17.81B
CVS:
$56.59B
TMO:
$11.16B
CVS:
$9.99B
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Return for Risk
TMO vs. CVS — Risk / Return Rank
TMO
CVS
TMO vs. CVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thermo Fisher Scientific Inc. (TMO) and CVS Health Corporation (CVS). 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.
| TMO | CVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.35 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 3.56 | -3.01 |
| Martin ratioReturn relative to average drawdown | 1.23 | 9.17 | -7.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TMO | CVS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 1.89 | -1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.21 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.11 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.34 | +0.06 |
Drawdowns
TMO vs. CVS - Drawdown Comparison
The maximum TMO drawdown since its inception was -71.16%, which is greater than CVS's maximum drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for TMO and CVS.
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Drawdown Indicators
| TMO | CVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.16% | -64.07% | -7.09% |
Max Drawdown (1Y)Largest decline over 1 year | -31.38% | -16.44% | -14.94% |
Max Drawdown (3Y)Largest decline over 3 years | -37.28% | -43.98% | +6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -40.95% | -56.79% | +15.84% |
Max Drawdown (10Y)Largest decline over 10 years | -40.95% | -56.79% | +15.84% |
Current DrawdownCurrent decline from peak | -28.76% | -1.05% | -27.71% |
Average DrawdownAverage peak-to-trough decline | -18.02% | -19.55% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.09% | 6.37% | +7.72% |
Volatility
TMO vs. CVS - Volatility Comparison
Thermo Fisher Scientific Inc. (TMO) has a higher volatility of 9.96% compared to CVS Health Corporation (CVS) at 8.88%. This indicates that TMO's price experiences larger fluctuations and is considered to be riskier than CVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMO | CVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.96% | 8.88% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 21.57% | 25.90% | -4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.02% | 31.07% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.13% | 29.96% | -2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.33% | 29.30% | -2.97% |
Dividends
TMO vs. CVS - Dividend Comparison
TMO's dividend yield for the trailing twelve months is around 0.37%, less than CVS's 2.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVS CVS Health Corporation | 2.74% | 3.35% | 5.93% | 3.06% | 2.36% | 1.94% | 2.93% | 2.69% | 3.05% | 2.76% | 2.15% | 1.43% |
TMO Thermo Fisher Scientific Inc. | 0.37% | 0.30% | 0.30% | 0.26% | 0.22% | 0.16% | 0.19% | 0.23% | 0.30% | 0.32% | 0.43% | 0.42% |
Financials
TMO vs. CVS - Financials Comparison
This section allows you to compare key financial metrics between Thermo Fisher Scientific Inc. and CVS Health Corporation. 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
TMO vs. CVS - Profitability Comparison
TMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported a gross profit of 4.48B and revenue of 11.01B. Therefore, the gross margin over that period was 40.7%.
CVS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported a gross profit of 15.62B and revenue of 100.43B. Therefore, the gross margin over that period was 15.6%.
TMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported an operating income of 1.86B and revenue of 11.01B, resulting in an operating margin of 16.9%.
CVS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported an operating income of 4.68B and revenue of 100.43B, resulting in an operating margin of 4.7%.
TMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Thermo Fisher Scientific Inc. reported a net income of 1.65B and revenue of 11.01B, resulting in a net margin of 15.0%.
CVS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CVS Health Corporation reported a net income of 2.94B and revenue of 100.43B, resulting in a net margin of 2.9%.
Frequently Asked Questions
TMO and CVS have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMO has higher volatility (9.96%) compared to CVS (8.88%). In terms of maximum drawdown, TMO dropped -71.16% vs CVS's -64.07%.
CVS currently has the higher Sharpe Ratio (1.89 vs 0.56), 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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