TMO vs. STLD
TMO (Thermo Fisher Scientific Inc.) and STLD (Steel Dynamics, Inc.) are both stocks. TMO operates in Diagnostics & Research (Healthcare), while STLD operates in Steel (Basic Materials). Over the past 10 years, TMO returned 12.54%/yr vs 29.92%/yr for STLD. At a 0.31 correlation, their price movements are largely independent.
Performance
TMO vs. STLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TMO achieves a -18.92% return, which is significantly lower than STLD's 67.39% return. Over the past 10 years, TMO has underperformed STLD with an annualized return of 12.54%, while STLD has yielded a comparatively higher 29.92% annualized return.
TMO
- 1D
- -1.33%
- 1M
- 5.23%
- YTD
- -18.92%
- 6M
- -17.84%
- 1Y
- 13.42%
- 3Y*
- -3.43%
- 5Y*
- 0.45%
- 10Y*
- 12.54%
STLD
- 1D
- 1.15%
- 1M
- 19.27%
- YTD
- 67.39%
- 6M
- 65.42%
- 1Y
- 117.36%
- 3Y*
- 40.23%
- 5Y*
- 36.27%
- 10Y*
- 29.92%
TMO vs. STLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMO Thermo Fisher Scientific Inc. | -18.92% | 11.78% | -1.72% | -3.36% | -17.29% | 43.54% | 43.72% | 45.55% | 18.21% | 35.03% |
STLD Steel Dynamics, Inc. | 67.39% | 50.70% | -1.99% | 22.75% | 60.14% | 71.42% | 12.46% | 16.78% | -29.02% | 23.34% |
Correlation
The correlation between TMO and STLD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 1996 | 0.31 |
Fundamentals
TMO:
$175.06B
STLD:
$40.94B
TMO:
$18.22
STLD:
$9.33
TMO:
25.76
STLD:
30.30
TMO:
3.91
STLD:
2.19
TMO:
3.37
STLD:
4.47
TMO:
$45.20B
STLD:
$19.01B
TMO:
$17.81B
STLD:
$2.66B
TMO:
$11.16B
STLD:
$2.23B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TMO vs. STLD — Risk / Return Rank
TMO
STLD
TMO vs. STLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thermo Fisher Scientific Inc. (TMO) and Steel Dynamics, Inc. (STLD). 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.
| TMO | STLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.50 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 5.81 | -5.38 |
| Martin ratioReturn relative to average drawdown | 0.93 | 19.49 | -18.56 |
Loading charts...
Drawdowns
TMO vs. STLD - Drawdown Comparison
The maximum TMO drawdown since its inception was -71.16%, smaller than the maximum STLD drawdown of -87.05%. Use the drawdown chart below to compare losses from any high point for TMO and STLD.
Loading charts...
Drawdown Indicators
| TMO | STLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.16% | -87.05% | +15.89% |
Max Drawdown (1Y)Largest decline over 1 year | -31.38% | -20.33% | -11.05% |
Max Drawdown (3Y)Largest decline over 3 years | -37.28% | -28.66% | -8.62% |
Max Drawdown (5Y)Largest decline over 5 years | -40.95% | -32.20% | -8.75% |
Max Drawdown (10Y)Largest decline over 10 years | -40.95% | -68.46% | +27.51% |
Current DrawdownCurrent decline from peak | -28.80% | 0.00% | -28.80% |
Average DrawdownAverage peak-to-trough decline | -18.11% | -33.27% | +15.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.43% | 6.04% | +8.39% |
Volatility
TMO vs. STLD - Volatility Comparison
Thermo Fisher Scientific Inc. (TMO) has a higher volatility of 10.57% compared to Steel Dynamics, Inc. (STLD) at 9.70%. This indicates that TMO's price experiences larger fluctuations and is considered to be riskier than STLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TMO | STLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.57% | 9.70% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 22.27% | 24.96% | -2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.48% | 33.38% | -1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.20% | 38.03% | -10.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.38% | 39.31% | -12.93% |
Dividends
TMO vs. STLD - Dividend Comparison
TMO's dividend yield for the trailing twelve months is around 0.37%, less than STLD's 0.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
STLD Steel Dynamics, Inc. | 0.72% | 1.18% | 1.61% | 1.44% | 1.39% | 1.68% | 2.71% | 2.82% | 2.50% | 1.44% | 1.57% | 3.08% |
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. STLD - Financials Comparison
This section allows you to compare key financial metrics between Thermo Fisher Scientific Inc. and Steel Dynamics, 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
TMO vs. STLD - 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%.
STLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a gross profit of 763.22M and revenue of 5.20B. Therefore, the gross margin over that period was 14.7%.
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%.
STLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported an operating income of 538.00M and revenue of 5.20B, resulting in an operating margin of 10.3%.
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%.
STLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a net income of 403.44M and revenue of 5.20B, resulting in a net margin of 7.8%.
Frequently Asked Questions
TMO and STLD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMO has higher volatility (10.57%) compared to STLD (9.70%). In terms of maximum drawdown, TMO dropped -71.16% vs STLD's -87.05%.
STLD currently has the higher Sharpe Ratio (3.54 vs 0.43), 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.
Find the right allocation for TMO and STLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer