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U.S. Life Sciences Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies63
  • 7D0.03%
  • 3M5.8%
  • 1Y0.8%
  • YTD3.8%

In the last week, the Life Sciences industry is flat overall, with West Pharmaceutical Services standing out by going down 8.9%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 18% per annum.

Industry Valuation and Performance

Has the U.S. Life Sciences Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026US$693.6bUS$145.8bUS$12.4b36x56.1x4.8x
Tue, 23 Dec 2025US$651.7bUS$145.8bUS$12.5b35.2x52.2x4.5x
Thu, 20 Nov 2025US$648.1bUS$145.7bUS$12.2b34x53.2x4.4x
Sat, 18 Oct 2025US$628.7bUS$144.3bUS$14.6b33x43.2x4.4x
Mon, 15 Sep 2025US$565.3bUS$144.3bUS$14.6b28.6x38.8x3.9x
Wed, 13 Aug 2025US$550.7bUS$144.1bUS$14.4b29.7x38.3x3.8x
Fri, 11 Jul 2025US$541.8bUS$142.9bUS$9.1b37.2x59.3x3.8x
Sun, 08 Jun 2025US$518.0bUS$142.9bUS$9.2b35.6x56.5x3.6x
Tue, 06 May 2025US$524.0bUS$142.4bUS$9.7b37.5x54.3x3.7x
Thu, 03 Apr 2025US$558.3bUS$142.5bUS$10.0b37.6x55.9x3.9x
Sat, 01 Mar 2025US$599.5bUS$143.3bUS$9.7b38.1x61.7x4.2x
Mon, 27 Jan 2025US$700.4bUS$142.4bUS$10.2b45.1x68.6x4.9x
Wed, 25 Dec 2024US$658.4bUS$142.4bUS$10.2b44.7x64.4x4.6x
Fri, 22 Nov 2024US$644.5bUS$142.4bUS$10.4b43.8x62.2x4.5x
Sun, 20 Oct 2024US$736.4bUS$141.8bUS$8.5b37.2x86.7x5.2x
Tue, 17 Sep 2024US$740.7bUS$141.8bUS$8.5b37.7x87.1x5.2x
Thu, 15 Aug 2024US$733.6bUS$141.5bUS$8.4b38.6x87.8x5.2x
Sat, 13 Jul 2024US$681.6bUS$141.2bUS$12.2b40.7x55.8x4.8x
Mon, 10 Jun 2024US$713.3bUS$141.3bUS$12.2b37.7x58.6x5x
Wed, 08 May 2024US$715.6bUS$141.6bUS$12.5b39.8x57.4x5.1x
Fri, 05 Apr 2024US$727.9bUS$142.1bUS$12.8b42.7x56.9x5.1x
Sun, 03 Mar 2024US$744.0bUS$142.2bUS$12.8b44.2x58.1x5.2x
Tue, 30 Jan 2024US$698.4bUS$153.8bUS$14.2b36x49.3x4.5x
Thu, 28 Dec 2023US$704.7bUS$153.8bUS$14.2b37.9x49.5x4.6x
Sat, 25 Nov 2023US$642.8bUS$153.8bUS$14.0b34.7x45.9x4.2x
Mon, 23 Oct 2023US$607.7bUS$154.6bUS$11.2b31.3x54.2x3.9x
Wed, 20 Sep 2023US$688.0bUS$154.6bUS$11.2b32.3x61.4x4.5x
Fri, 18 Aug 2023US$708.0bUS$154.6bUS$11.2b32.5x63.2x4.6x
Sun, 16 Jul 2023US$706.2bUS$155.5bUS$12.7b29.3x55.7x4.5x
Tue, 13 Jun 2023US$692.4bUS$152.4bUS$12.5b29.3x55.4x4.5x
Thu, 11 May 2023US$685.9bUS$152.3bUS$12.7b30x53.9x4.5x
Sat, 08 Apr 2023US$720.1bUS$154.6bUS$10.8b26.7x66.7x4.7x
Mon, 06 Mar 2023US$739.7bUS$154.5bUS$10.9b31x68x4.8x
Wed, 01 Feb 2023US$755.3bUS$155.5bUS$9.0b30.7x84x4.9x
Price to Earnings Ratio

84x


Total Market Cap: US$755.3bTotal Earnings: US$9.0bTotal Revenue: US$155.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Life Sciences Industry Price to Earnings3Y Average 59.4x202420252026
Current Industry PE
  • Investors are pessimistic on the American Life Sciences 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 56.1x which is lower than its 3-year average PE of 59.4x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences industry have grown 11% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.1% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare industry?

US Market-0.36%
Healthcare1.10%
Life Sciences0.029%
Clinical Research and Equipment0.029%
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$625.981.2%
+US$2.7b		8.9%PE35.8x
QGEN QiagenUS$55.6216.9%
+US$1.7b		12.6%PE28.3x
ILMN IlluminaUS$150.286.1%
+US$1.3b		10.3%PE32.7x
RVTY RevvityUS$116.733.8%
+US$479.6m		-5.2%PE56.9x
ICLR ICONUS$186.702.2%
+US$312.3m		-6.9%PE23.8x

Latest News

QGEN
US$55.62
Qiagen
7D
16.9%
1Y
12.6%
TXG
US$22.38
10x Genomics
7D
9.1%
1Y
51.1%

TXG: ARK Buying And Soft 2026 Outlook Will Restrain Upside Potential

Analysts have nudged their 10x Genomics price target higher to about $18, up from around $17.36. This reflects slightly updated fair value, discount rate, revenue growth, profit margin, and future P/E assumptions, alongside recent Street research that includes an $18 target and continued institutional interest.
A
US$135.05
Agilent Technologies
7D
-3.3%
1Y
-10.8%
WAT
US$392.31
Waters
7D
1.3%
1Y
-4.6%

WAT: New Detector Launch And Stable Margins Will Support Future Upside

Analysts kept their price target for Waters steady at US$480.00, with only very small tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions, reflecting fine-tuning rather than a major shift in their view. What's in the News Waters scheduled a special or extraordinary shareholders meeting for January 27, 2026, to be held via proxydocs.com/wat in the United States (company event filing).
TMO
US$625.98
Thermo Fisher Scientific
7D
1.2%
1Y
8.9%

TMO: Raised 2026 Expectations And Policy Risks Will Pressure Future Returns

Narrative Update Overview The analyst price target for Thermo Fisher Scientific has shifted higher, from about US$541 to US$575, as analysts reflect updated assumptions for slightly faster revenue growth, stronger profit margins, and a lower future P/E multiple, supported by a series of price target increases across recent Street research. Analyst Commentary Recent Street research on Thermo Fisher Scientific has centered on refreshed models out to 2026, with several firms lifting price targets into a US$650 to US$700 range and maintaining positive ratings.
TEM
US$65.32
Tempus AI
7D
-7.1%
1Y
27.1%
MTD
US$1,406.36
Mettler-Toledo International
7D
-3.7%
1Y
5.7%
WST
US$236.66
West Pharmaceutical Services
7D
-8.9%
1Y
-31.4%
ILMN
US$150.28
Illumina
7D
6.1%
1Y
10.3%

ILMN: Future Returns Will Depend On China Recovery And Execution Through 2026

Analysts have raised their implied fair value for Illumina by about $12 to approximately $132 per share, reflecting updated views on revenue growth, profit margins and future P/E multiples, supported by a series of recent price target increases across the Street. Analyst Commentary Recent research updates cluster around higher price targets and mixed views on how reliably Illumina can deliver against those expectations.
BIO
US$296.57
Bio-Rad Laboratories
7D
-5.4%
1Y
-16.4%

BIO: Share Buybacks And Oncology Assay Partnership Will Drive Future Upside

Analysts have kept their price target for Bio-Rad Laboratories broadly steady at about US$375.00, reflecting only slight adjustments to modeled discount rate, revenue growth, profit margin, and future P/E assumptions in their updated views. What's in the News From July 1, 2025 to September 30, 2025, Bio-Rad repurchased 212,578 shares, about 0.79% of its shares, for US$52.83 million under its existing buyback program.
MEDP
US$588.05
Medpace Holdings
7D
-3.7%
1Y
70.9%

MEDP: Biotech Recovery And Backlog Strength Will Challenge Rich Market Expectations

Narrative Update: Medpace Holdings Analyst Price Target Shift The updated analyst framework edges fair value for Medpace Holdings slightly higher to about $545.75 from roughly $541.92. This reflects modest tweaks to discount rate, growth, margin and P/E assumptions as analysts respond to a series of recent price target increases across the Street.
BRKR
US$50.33
Bruker
7D
4.0%
1Y
-12.1%

BRKR: Constructive Bookings And Rating Upgrade Will Support Higher Forward P E Multiple

Analysts have lifted their Bruker price target to about $54 from about $52, citing slightly higher fair value estimates and modest adjustments to the discount rate, margin assumptions, and future P/E expectations. These changes are supported by a series of recent target hikes and an upgrade to Hold in the life science tools peer group.
DHR
US$235.01
Danaher
7D
-0.4%
1Y
-4.4%

DHR: Share Repurchases And Soft 2026 Outlook Will Support Premium Multiple

Analysts have nudged their price targets on Danaher higher, reflected in a fair value update from US$259.23 to US$261.50, citing refreshed views on revenue growth, profit margins, and future P/E expectations in recent research. Analyst Commentary Recent price target moves on Danaher point to refreshed views on how the company could execute on growth plans, manage profitability, and justify its current P/E profile.
RVTY
US$116.73
Revvity
7D
3.8%
1Y
-5.2%
STVN
US$17.27
Stevanato Group
7D
-12.6%
1Y
-19.8%

STVN: Expanded Drug Delivery Capacity Will Support Stronger Future Cash Flows

Analysts now estimate Stevanato Group's fair value price target at approximately US$36.05, a very small adjustment from about US$36.08. This reflects updated views that combine slightly higher revenue growth expectations with modestly lower profit margin assumptions and a marginally higher future P/E outlook.
ICLR
US$186.70
ICON
7D
2.2%
1Y
-6.9%

ICLR: Strong Bookings And RFP Momentum Will Offset Margin Concerns

Analysts have trimmed their ICON fair value estimate by about US$0.69 to roughly US$205.69. This reflects expectations of softer revenue growth, thinner margins and a slightly higher discount rate, while still using a somewhat higher future P/E assumption in line with recent price target revisions across the Street.