TMO vs. T

Last updated Jul 21, 2026

TMO (Thermo Fisher Scientific Inc.) and T (AT&T Inc.) are both stocks. TMO operates in Diagnostics & Research (Healthcare), while T operates in Telecom Services (Communication Services). Over the past 10 years, TMO returned 13.19%/yr vs 2.10%/yr for T. At a 0.23 correlation, their price movements are largely independent.

Performance

TMO vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thermo Fisher Scientific Inc. (TMO) and AT&T Inc. (T). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMO achieves a -9.00% return, which is significantly lower than T's -7.04% return. Over the past 10 years, TMO has outperformed T with an annualized return of 13.19%, while T has yielded a comparatively lower 2.10% annualized return.

TMO

• 1D: -1.17%
• 1M: 13.26%
• 6M: -14.78%
• YTD: -9.00%
• 1Y: 27.34%
• 3Y*: -1.87%
• 5Y*: 0.74%
• 10Y*: 13.19%
• ALL TIME*: 12.05%

T

• 1D: 0.64%
• 1M: 2.62%
• 6M: -2.84%
• YTD: -7.04%
• 1Y: -13.37%
• 3Y*: 20.93%
• 5Y*: 7.13%
• 10Y*: 2.10%
• ALL TIME*: 9.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TMO vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMO Thermo Fisher Scientific Inc.	-9.00%	11.78%	-1.72%	-3.36%	-17.29%	43.54%	43.72%	45.55%	18.21%	35.03%
T AT&T Inc.	-7.04%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between TMO and T 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	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 1, 1987	0.23

The correlation between TMO and T shifts across timeframes, from -0.03 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap TMO : $195.56B T : $152.52B
EPS TMO : $18.24 T : $3.05
PE Ratio TMO : 28.85 T : 7.19
PS Ratio TMO : 4.38 T : 1.25
Total Revenue (TTM) TMO : $45.20B T : $125.65B
Gross Profit (TTM) TMO : $17.81B T : $105.41B
EBITDA (TTM) TMO : $11.16B T : $54.70B

Return for Risk

TMO vs. T — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TMO

TMO Risk / Return Rank: 68
TMO Sharpe Ratio Rank: 73
TMO Sortino Ratio Rank: 71
TMO Omega Ratio Rank: 68
TMO Calmar Ratio Rank: 65
TMO Martin Ratio Rank: 63

T

T Risk / Return Rank: 22
T Sharpe Ratio Rank: 19
T Sortino Ratio Rank: 19
T Omega Ratio Rank: 20
T Calmar Ratio Rank: 29
T Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TMO vs. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thermo Fisher Scientific Inc. (TMO) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	0.88	-0.57	+1.45
Sortino ratio: Return per unit of downside risk	1.50	-0.67	+2.16
Omega ratio: Gain probability vs. loss probability	1.18	0.92	+0.26
Calmar ratio: Return relative to maximum drawdown	0.88	-0.46	+1.34
Martin ratio: Return relative to average drawdown	1.74	-1.03	+2.77

TMO vs. T - Sharpe Ratio Comparison

The current TMO Sharpe Ratio is 0.88, which is higher than the T Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of TMO and T, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TMO vs. T - Drawdown Comparison

The maximum TMO drawdown since its inception was -71.16%, which is greater than T's maximum drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for TMO and T.

Drawdown Indicators

	TMO	T	Difference
Max Drawdown Largest peak-to-trough decline	-71.16%	-64.15%	-7.01%
Max Drawdown (1Y) Largest decline over 1 year	-31.38%	-28.89%	-2.49%
Max Drawdown (3Y) Largest decline over 3 years	-37.28%	-28.89%	-8.39%
Max Drawdown (5Y) Largest decline over 5 years	-40.95%	-32.01%	-8.94%
Max Drawdown (10Y) Largest decline over 10 years	-40.95%	-42.35%	+1.40%
Current Drawdown Current decline from peak	-20.09%	-21.57%	+1.48%
Average Drawdown Average peak-to-trough decline	-18.12%	-15.74%	-2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.79%	12.94%	+2.85%

Volatility

TMO vs. T - Volatility Comparison

The current volatility for Thermo Fisher Scientific Inc. (TMO) is 7.76%, while AT&T Inc. (T) has a volatility of 9.59%. This indicates that TMO experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMO	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.76%	9.59%	-1.83%
Volatility (6M) Calculated over the trailing 6-month period	22.95%	19.91%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	31.33%	23.72%	+7.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.37%	24.38%	+2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.42%	23.92%	+2.50%

Dividends

TMO vs. T - Dividend Comparison

TMO's dividend yield for the trailing twelve months is around 0.34%, less than T's 6.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
T AT&T Inc.	6.58%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%
TMO Thermo Fisher Scientific Inc.	0.34%	0.30%	0.30%	0.26%	0.22%	0.16%	0.19%	0.23%	0.30%	0.32%	0.43%	0.42%

Financials

Frequently Asked Questions

Can I hold both TMO and T in my portfolio?

TMO and T 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.

Which is riskier, TMO or T?

T has higher volatility (9.59%) compared to TMO (7.76%). In terms of maximum drawdown, TMO dropped -71.16% vs T's -64.15%.

Which has better risk-adjusted returns?

TMO currently has the higher Sharpe Ratio (0.88 vs -0.57), 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.