TMO drawdown: 14.8% below the all-time high
Thermo Fisher Scientific Inc. (TMO) is 14.8% below its all-time high, set Dec 31, 2021 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1984).
- Below all-time high
- −14.8%
- 85.2% of ATH
- All-time high
- $667.2
- Dec 31, 2021
- Time below the high
- 4.6 yrs
- since Dec 31, 2021
- Worst-ever drawdown
- −71.2%
- Apr 15, 1999
- Longest underwater
- 8.8 yrs
- between all-time highs
- Today's level first reached
- Sep 7, 2021
- 4.9 yrs ago
- Last time this deep
- Jun 9, 2021
- in a previous episode
% of all-time high since 1984#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of TMO, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Dec 31, 1997 | Apr 15, 1999 | −71.2% | 15 mo | Oct 24, 2006 | 8.8 yrs |
| Sep 1, 1987 | Oct 28, 1987 | −56.1% | 57 days | May 16, 1989 | 1.7 yrs |
| Aug 15, 2008 | Nov 20, 2008 | −53.9% | 3 mo | May 18, 2011 | 2.8 yrs |
| Oct 3, 1989 | Oct 11, 1990 | −42.1% | 12 mo | May 8, 1991 | 1.6 yrs |
| Dec 31, 2021 | Jun 17, 2025 | −41.5% | 3.5 yrs | not yet | 4.6 yrs+ |
| Jun 5, 1996 | Apr 15, 1997 | −34.5% | 10 mo | Dec 30, 1997 | 1.6 yrs |
| Jul 7, 2011 | Dec 19, 2011 | −33.6% | 5 mo | Jan 7, 2013 | 1.5 yrs |
| Jan 22, 2020 | Mar 23, 2020 | −24.9% | 2 mo | Apr 27, 2020 | 3 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1984: how far TMO stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: TMO is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is TMO from its all-time high?
- TMO is currently 14.8% below its all-time high, set Dec 31, 2021 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest TMO drawdown ever?
- The deepest decline on record in our data (since 1984) took the stock 71.2% below its prior high, bottoming Apr 15, 1999. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1984 (split-adjusted). "All-time" means since our price data begins — TMO may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.