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U.S. Clinical Research and Equipment Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies63
  • 7D1.6%
  • 3M-7.8%
  • 1Y7.3%
  • YTDn/a

Over the last 7 days, the Clinical Research and Equipment industry has risen 1.6%, and Thermo Fisher Scientific contributed the most with a gain of 1.0%. In the last 12 months, the industry was up 7.3%. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

Has the U.S. Clinical Research and Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026US$543.8bUS$150.3bUS$14.0b33.3x38.8x3.6x
Sat, 25 Apr 2026US$545.0bUS$148.9bUS$14.3b30.5x38.1x3.7x
Mon, 23 Mar 2026US$542.7bUS$147.8bUS$14.0b34.6x38.7x3.7x
Wed, 18 Feb 2026US$589.4bUS$147.7bUS$13.9b34x42.4x4x
Fri, 16 Jan 2026US$700.6bUS$145.8bUS$12.4b38.1x56.7x4.8x
Sun, 14 Dec 2025US$656.7bUS$145.8bUS$12.5b34.4x52.6x4.5x
Tue, 11 Nov 2025US$636.9bUS$145.7bUS$12.2b34.6x52.3x4.4x
Thu, 09 Oct 2025US$621.3bUS$144.3bUS$14.6b32.7x42.7x4.3x
Sat, 06 Sep 2025US$576.4bUS$144.3bUS$14.6b29.9x39.6x4x
Mon, 04 Aug 2025US$552.8bUS$143.9bUS$13.0b31.8x42.5x3.8x
Wed, 02 Jul 2025US$531.9bUS$142.9bUS$9.1b35.6x58.3x3.7x
Fri, 30 May 2025US$504.0bUS$142.9bUS$9.2b32.4x54.5x3.5x
Sun, 27 Apr 2025US$519.5bUS$142.5bUS$10.0b37.5x52x3.6x
Tue, 25 Mar 2025US$596.0bUS$143.0bUS$9.9b39x60.2x4.2x
Thu, 20 Feb 2025US$619.7bUS$143.3bUS$10.0b35x62x4.3x
Sat, 18 Jan 2025US$685.4bUS$142.4bUS$10.2b43.8x67.2x4.8x
Mon, 16 Dec 2024US$666.2bUS$142.4bUS$10.2b45.5x65.2x4.7x
Wed, 13 Nov 2024US$692.4bUS$142.4bUS$10.3b44.6x67.3x4.9x
Fri, 11 Oct 2024US$729.8bUS$141.8bUS$8.5b36.9x85.9x5.1x
Sun, 08 Sep 2024US$731.3bUS$141.8bUS$8.5b37.5x86.1x5.2x
Tue, 06 Aug 2024US$742.2bUS$140.9bUS$11.3b36.4x65.9x5.3x
Thu, 04 Jul 2024US$662.1bUS$141.3bUS$12.2b38.5x54.4x4.7x
Sat, 01 Jun 2024US$696.4bUS$141.3bUS$12.4b38.2x56x4.9x
Mon, 29 Apr 2024US$709.6bUS$141.6bUS$12.7b39.2x55.8x5x
Wed, 27 Mar 2024US$735.1bUS$142.1bUS$12.8b43.8x57.4x5.2x
Fri, 23 Feb 2024US$720.2bUS$142.3bUS$12.5b42.5x57.4x5.1x
Sun, 21 Jan 2024US$687.1bUS$153.8bUS$14.2b35.9x48.5x4.5x
Tue, 19 Dec 2023US$684.6bUS$153.7bUS$14.2b37x48.1x4.5x
Thu, 16 Nov 2023US$603.3bUS$153.9bUS$13.9b33.7x43.4x3.9x
Sat, 14 Oct 2023US$629.3bUS$154.6bUS$11.2b33.2x56.2x4.1x
Mon, 11 Sep 2023US$687.1bUS$154.6bUS$11.2b31.6x61.3x4.4x
Wed, 09 Aug 2023US$733.4bUS$154.6bUS$11.2b30.3x65.5x4.7x
Fri, 07 Jul 2023US$687.8bUS$152.4bUS$12.5b29.6x55x4.5x
Sun, 04 Jun 2023US$683.1bUS$152.4bUS$12.5b29.1x54.6x4.5x
Price to Earnings Ratio

54.6x


Total Market Cap: US$683.1bTotal Earnings: US$12.5bTotal Revenue: US$152.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Clinical Research and Equipment Industry Price to Earnings3Y Average 56.5x202420252026
Current Industry PE
  • Investors are pessimistic on the American Life Sciences Tools and Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 38.8x which is lower than its 3-year average PE of 56.5x.
  • The 3-year average PS ratio of 4.4x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences Tools and Services industry have grown 3.9% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.S. Clinical Research and Equipment compare with similar industries?

US Market1.27%
Healthcare0.96%
Life Sciences1.56%
Clinical Research and Equipment1.56%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TMO Thermo Fisher ScientificUS$456.211.0%
+US$1.6b		13.4%PE24.8x
DHR DanaherUS$173.131.2%
+US$1.4b		-8.4%PE33.3x
ILMN IlluminaUS$150.175.8%
+US$1.2b		77.9%PE26.6x
BRKR BrukerUS$48.629.9%
+US$663.7m		31.5%PS2.1x
A Agilent TechnologiesUS$115.841.8%
+US$582.2m		4.5%PE25.4x

Latest News

A
US$115.84
Agilent Technologies
7D
1.8%
1Y
4.5%
Seeking Alpha • 55m

Agilent Technologies: A Solid Q2 Beat, But The Stock Remains A Hold

Summary Agilent Technologies, Inc. posted a strong Q2 2026 quarter, with top and bottom line numbers both exceeding estimates. All segments earned positive growth, with two out of three seeing increases of more than double-digits. Despite the solid quarterly results, I maintain a Hold rating, as A stock appears slightly overvalued and has a forward return potential lower than my benchmark. Read the full article on Seeking Alpha
MLAB
US$90.80
Mesa Laboratories
7D
-16.8%
1Y
-13.2%
SHC
US$15.54
Sotera Health
7D
-0.06%
1Y
27.4%
WST
US$312.71
West Pharmaceutical Services
7D
2.4%
1Y
47.9%
BRKR
US$48.62
Bruker
7D
9.9%
1Y
31.5%
CRL
US$164.49
Charles River Laboratories International
7D
5.4%
1Y
20.7%
TMO
US$456.21
Thermo Fisher Scientific
7D
1.0%
1Y
13.4%
Narrative Update • May 26

TMO: High Conviction Tools Demand And New Platforms Will Drive Performance

Thermo Fisher Scientific's analyst fair value estimate is updated from $648.28 to $611.56 as analysts weigh modestly different assumptions for discount rate, revenue growth, profit margins and future P/E, alongside mixed research commentary that includes fresh additions to high conviction lists and several price target cuts across the Street. Analyst Commentary Recent research on Thermo Fisher shows a mix of optimism and caution, with fresh inclusion in a high conviction list on one side and several price target cuts and neutral ratings on the other.
FTRE
US$13.42
Fortrea Holdings
7D
-2.0%
1Y
221.1%
Narrative Update • May 25

FTRE: Conservative 2026 Guidance And AI Tools May Drive Re Rating

Analysts raised Fortrea Holdings’ fair value estimate to $20.00 from $16.00, citing updated assumptions on discount rates, revenue growth, profit margins, and future P/E that are consistent with a series of recent price target increases across the Street. Analyst Commentary Recent Street research around Fortrea has shifted toward a more constructive tone, with several bullish analysts lifting price targets and one firm moving the stock to a higher rating category.
ILMN
US$150.17
Illumina
7D
5.8%
1Y
77.9%
BIO
US$305.29
Bio-Rad Laboratories
7D
6.1%
1Y
33.2%
IQV
US$165.62
IQVIA Holdings
7D
-3.4%
1Y
19.3%
CYRX
US$14.02
Cryoport
7D
-0.4%
1Y
137.6%
DHR
US$173.13
Danaher
7D
1.2%
1Y
-8.4%
Narrative Update • May 19

DHR: Bioprocess Recovery And Masimo Deal Set To Support Premium Multiple

Analysts have trimmed the implied fair value for Danaher by about $2 to roughly $248 per share, as they balance slightly higher long term growth and margin expectations with a lower assumed P/E multiple, evolving views on bioprocess recovery, and recent price target changes across the Street. Analyst Commentary Recent Street commentary around Danaher reflects a mixed but engaged view, with several firms adjusting price targets and reassessing how quickly the company can execute on its bioprocess ambitions and broader portfolio moves.
MRVI
US$4.37
Maravai LifeSciences Holdings
7D
-1.4%
1Y
97.7%
Seeking Alpha • May 18

Maravai LifeSciences: Better Earnings Drive Gains That Ought To Be Sustainable

Summary Maravai LifeSciences Holdings, Inc. is upgraded to Buy, driven by operational restructuring, improved guidance, and sector recovery. MRVI raised 2026 revenue guidance to $205–$215M and adjusted EBITDA to $30–$32M, reflecting robust Q1 results and cost savings. TriLink segment showed 15% YoY growth; restructuring actions are delivering over $65M in annual EBITDA savings. Despite lumpy revenues and China headwinds, MRVI’s long-term growth prospects and sector correlation support a bullish outlook. Read the full article on Seeking Alpha
ADPT
US$13.84
Adaptive Biotechnologies
7D
-0.9%
1Y
51.3%
Narrative Update • May 17

ADPT: 2026 MRD Execution And Margin Discipline Will Support Future Upside Potential

Analysts now see Adaptive Biotechnologies' fair value edging from $20.57 to $20.14, reflecting mixed price target revisions. One firm cut its target by $3, while another raised its target by $2, as they update assumptions around growth, margins, the discount rate and future P/E expectations.
ALMR
US$19.12
Alamar Biosciences
7D
-13.1%
1Y
n/a