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MTDMettler Toledo

Health care · Lab Instruments · NYSE
MTD quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 4.0%, free cash flow down to $848.6M

XBRL, from each 10-K
RevenueStatements ↓
$4.0B
from $3.9B in FY2024
FY2016FY2025
Net incomeStatements ↓
$869.2M
from $863.1M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$848.6M
from $864.4M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$42.05
from $40.48 in FY2024
FY2016FY2025
Total debtStatements ↓
$2.2B
from $2.0B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (36, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)46.07Sales (ttm)4.2BNet income (ttm)934.1MSales growth+4.0%EPS growth+3.9%Sales Q/Q+6.3%
Free cash flow870.6MGross margin60.4%Oper. margin-Net margin22.2%FCF margin20.7%ROEn/m
ROA25.3%R&D / sales5.0%Dividend-Debt/Eqn/mCurr. ratio1.10Cash52.2M
Op. cash flow (ttm)984.4MNet debt2.0BQuick ratio0.79Tax rate17.1%Stock pay / sales0.6%Shares out.19.9M
Shares Y/Y-3.0%Book / share3.90Cash / share2.63Sales / share211.08Asset turnover1.14Days sales out.71
Sales 3Y CAGR+0.9%Sales 5Y CAGR+5.5%EPS 3Y CAGR+3.1%EPS 5Y CAGR+11.0%Employees1,600Sales / employee2.6M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

MTD against Health care peers

Ten years, side by side → · All 60 →
GrowthProfitBalanceCleanInsiders
MTDPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.

Sales growth
+4.0%43rd of 60 · median +7.1%
Net margin
22.2%10th of 60 · median 9.6%
Free cash flow margin
20.7%16th of 56 · median 15.5%
MTD and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
MTD Mettler Toledo$4.2B +4.0%60.4%22.2%-20.7%-
WAT Waters Corporation$4.6B +7.0%59.3%3.6%1.1%8.6%0.33
ILMN Illumina, Inc.$4.5B -0.7%67.9%19.7%28.5%23.3%0.57
COO Cooper Companies$4.2B +5.1%65.9%13.5%6.8%16.0%0.31
ALGN Align Technology$4.2B +0.9%69.1%11.8%11.4%14.5%-
CRL Charles River Laboratories$4.0B -0.9%-1.0%1.2%10.0%0.76
Where each dollar goes

From $3.7B of sales to $769.0M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $2.2BRevenue to Cost of revenue: $1.5BGross profit to Net profit: $769.0MGross profit to Costs, tax, other: $1.4B Revenue: $3.7B Revenue$3.7B +21% Y/Y Gross profit: $2.2B · 58% margin Gross profit$2.2B58% margin +21% Y/Y Cost of revenue: $1.5B · 42% of revenue Cost of revenue$1.5B42% of revenue Net profit: $769.0M · 21% margin Net profit$769.0M21% margin +28% Y/Y Costs, tax, other: $1.4B · 38% of revenue Costs, tax, other$1.4B38% of revenue

Swipe sideways for the whole flow →

From $3.9B of sales to $872.5M of profit

FY2022, from the 10-K income statement and revenue by segment
US Operations to Revenue: $1.4BWestern European Operations to Revenue: $799.9MOther Operations to Revenue: $657.7MChinese Operations to Revenue: $841.5MSwiss Operations to Revenue: $176.1MRevenue to Gross profit: $2.3BRevenue to Cost of revenue: $1.6BGross profit to Net profit: $872.5MGross profit to Costs, tax, other: $1.4B US Operations: $1.4B · 37% US Operations$1.4B37% Western European Operations: $799.9M · 20% Western European Operat…$799.9M20% Other Operations: $657.7M · 17% Other Operations$657.7M17% Chinese Operations: $841.5M · 21% Chinese Operations$841.5M21% Swiss Operations: $176.1M · 4% Swiss Operations$176.1M4% Revenue: $3.9B Revenue$3.9B +5% Y/Y Gross profit: $2.3B · 59% margin Gross profit$2.3B59% margin +6% Y/Y Cost of revenue: $1.6B · 41% of revenue Cost of revenue$1.6B41% of revenue Net profit: $872.5M · 22% margin Net profit$872.5M22% margin +13% Y/Y Costs, tax, other: $1.4B · 37% of revenue Costs, tax, other$1.4B37% of revenue

Swipe sideways for the whole flow →

From $3.8B of sales to $788.8M of profit

FY2023, from the 10-K income statement
Revenue to Gross profit: $2.2BRevenue to Cost of revenue: $1.5BGross profit to Net profit: $788.8MGross profit to Costs, tax, other: $1.5B Revenue: $3.8B Revenue$3.8B −3% Y/Y Gross profit: $2.2B · 59% margin Gross profit$2.2B59% margin −3% Y/Y Cost of revenue: $1.5B · 41% of revenue Cost of revenue$1.5B41% of revenue Net profit: $788.8M · 21% margin Net profit$788.8M21% margin −10% Y/Y Costs, tax, other: $1.5B · 38% of revenue Costs, tax, other$1.5B38% of revenue

Swipe sideways for the whole flow →

From $3.9B of sales to $863.1M of profit

FY2024, from the 10-K income statement and revenue by segment
US Operations to Revenue: $1.4BWestern European Operations to Revenue: $858.0MOther Operations to Revenue: $737.8MChinese Operations to Revenue: $628.4MSwiss Operations to Revenue: $218.6MRevenue to Gross profit: $2.3BRevenue to Cost of revenue: $1.5BGross profit to Net profit: $863.1MGross profit to Costs, tax, other: $1.5B US Operations: $1.4B · 37% US Operations$1.4B37% Western European Operations: $858.0M · 22% Western European Operat…$858.0M22% Other Operations: $737.8M · 19% Other Operations$737.8M19% Chinese Operations: $628.4M · 16% Chinese Operations$628.4M16% Swiss Operations: $218.6M · 6% Swiss Operations$218.6M6% Revenue: $3.9B Revenue$3.9B +2% Y/Y Gross profit: $2.3B · 60% margin Gross profit$2.3B60% margin +4% Y/Y Cost of revenue: $1.5B · 40% of revenue Cost of revenue$1.5B40% of revenue Net profit: $863.1M · 22% margin Net profit$863.1M22% margin +9% Y/Y Costs, tax, other: $1.5B · 38% of revenue Costs, tax, other$1.5B38% of revenue

Swipe sideways for the whole flow →

From $4.0B of sales to $869.2M of profit

FY2025, from the 10-K income statement and revenue by segment
US Operations to Revenue: $1.5BWestern European Operations to Revenue: $896.0MOther Operations to Revenue: $788.5MChinese Operations to Revenue: $634.8MSwiss Operations to Revenue: $210.9MRevenue to Gross profit: $2.4BRevenue to Cost of revenue: $1.6BGross profit to Net profit: $869.2MGross profit to Costs, tax, other: $1.5B US Operations: $1.5B · 37% US Operations$1.5B37% Western European Operations: $896.0M · 22% Western European Operat…$896.0M22% Other Operations: $788.5M · 20% Other Operations$788.5M20% Chinese Operations: $634.8M · 16% Chinese Operations$634.8M16% Swiss Operations: $210.9M · 5% Swiss Operations$210.9M5% Revenue: $4.0B Revenue$4.0B +4% Y/Y Gross profit: $2.4B · 59% margin Gross profit$2.4B59% margin +3% Y/Y Cost of revenue: $1.6B · 41% of revenue Cost of revenue$1.6B41% of revenue Net profit: $869.2M · 22% margin Net profit$869.2M22% margin +1% Y/Y Costs, tax, other: $1.5B · 38% of revenue Costs, tax, other$1.5B38% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Costs, tax, other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

4 of 4
  • ✓
    Net margin above the peer median22.2% vs 9.6%
  • ✓
    Gross margin up over 5 years58.4% → 59.4%
  • ✓
    Return on equity above 15%1202.8%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 15.3% → 21.6%

Balance sheet

2 of 3
  • !
    Debt larger than equityDebt / equity 26.06 on the latest balance sheet (peer median 0.66)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.10
  • ✓
    Net debt under 3 years of free cash flow$2.0B net debt, 2.3 years
Debt / equity at each year end, FY2016 to FY2025: 2.06 → 81.25
What the debt is made of ↓

Cash and shareholders

3 of 3
  • ✓
    Free cash flow positive in every one of 10 years$848.6M last year
  • ✓
    Share count down over 5 years−14.6%
  • ✓
    Cash from operations above net income$955.8M vs $869.2M
Free cash flow, FY2016 to FY2025: 336.8M → 848.6M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$- of principal due

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 4.0B Net income 869.2M
FY2016 revenue 2.5B · Revenues, 0001037646-19-000010 FY2016 net income 384.4M · NetIncomeLoss, 0001037646-19-000010 2.5B FY2016 FY2017 revenue 2.7B · Revenues, 0001037646-20-000005 FY2017 net income 376.0M · NetIncomeLoss, 0001037646-20-000005 2.7B FY2017 FY2018 revenue 2.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-21-000008 FY2018 net income 512.6M · NetIncomeLoss, 0001037646-21-000008 2.9B FY2018 FY2019 revenue 3.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-22-000008 FY2019 net income 561.1M · NetIncomeLoss, 0001037646-22-000008 3.0B FY2019 FY2020 revenue 3.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-23-000005 FY2020 net income 602.7M · NetIncomeLoss, 0001037646-23-000005 3.1B FY2020 FY2021 revenue 3.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-24-000007 FY2021 net income 769.0M · NetIncomeLoss, 0001037646-24-000007 3.7B FY2021 FY2022 revenue 3.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-25-000012 FY2022 net income 872.5M · NetIncomeLoss, 0001037646-25-000012 3.9B FY2022 FY2023 revenue 3.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-26-000011 FY2023 net income 788.8M · NetIncomeLoss, 0001037646-26-000011 3.8B FY2023 FY2024 revenue 3.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-26-000011 FY2024 net income 863.1M · NetIncomeLoss, 0001037646-26-000011 3.9B FY2024 FY2025 revenue 4.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001037646-26-000011 FY2025 net income 869.2M · NetIncomeLoss, 0001037646-26-000011 4.0B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

MTD's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue4.0B
FY2016: 2.5BFY2017: 2.7BFY2018: 2.9BFY2019: 3.0BFY2020: 3.1BFY2021: 3.7BFY2022: 3.9BFY2023: 3.8BFY2024: 3.9BFY2025: 4.0B FY2017FY2019FY2021FY2023FY2025
Net income869.2M
FY2016: 384.4MFY2017: 376.0MFY2018: 512.6MFY2019: 561.1MFY2020: 602.7MFY2021: 769.0MFY2022: 872.5MFY2023: 788.8MFY2024: 863.1MFY2025: 869.2M FY2017FY2019FY2021FY2023FY2025
Free cash flow848.6M
FY2016: 336.8MFY2017: 388.9MFY2018: 422.3MFY2019: 506.1MFY2020: 632.2MFY2021: 801.2MFY2022: 737.8MFY2023: 860.6MFY2024: 864.4MFY2025: 848.6M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)42.05
FY2016: 14.22FY2017: 14.24FY2018: 19.88FY2019: 22.47FY2020: 24.91FY2021: 32.78FY2022: 38.41FY2023: 35.90FY2024: 40.48FY2025: 42.05 FY2017FY2019FY2021FY2023FY2025
Diluted shares20.7M
FY2016: 27.0MFY2017: 26.4MFY2018: 25.8MFY2019: 25.0MFY2020: 24.2MFY2021: 23.5MFY2022: 22.7MFY2023: 22.0MFY2024: 21.3MFY2025: 20.7M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
US Operations 1.5B37.2% +4.7%
Western European Operations 896.0M22.3% +4.4%
Other Operations 788.5M19.6% +6.9%
Chinese Operations 634.8M15.8% +1.0%
Swiss Operations 210.9M5.2% -3.5%

10-K 0001037646-26-000011, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Laboratory products and services 2.2B55.7% +2.5%
Industrial products and services 1.6B39.2% +6.0%
Retail products and services 205.9M5.1% +4.9%

10-K 0001037646-26-000011, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
Us Operations Segment Member 1.5B37.2% +4.7%
Western European Operations 896.0M22.3% +4.4%
Other Operations 788.5M19.6% +6.9%
Chinese Operations 634.8M15.8% +1.0%
Swiss Operations 210.9M5.2% -3.5%

10-K 0001037646-26-000011, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue2.5B2.7B2.9B3.0B3.1B3.7B3.9B3.8B3.9B4.0B
Cost of revenue767.8M833.8M--------
Gross profit1.4B1.6B1.7B1.7B1.8B2.2B2.3B2.2B2.3B2.4B
R&D119.2M128.3M141.1M143.9M140.1M169.8M177.1M185.3M189.4M199.4M
SG&A745.4M794.9M812.8M819.2M820.2M944.0M938.5M904.1M936.3M998.3M
Interest expense28.0M32.8M34.5M37.4M38.6M43.2M55.4M77.4M74.6M68.5M
Pretax income504.2M574.2M651.9M681.4M748.7M949.4M1.1B973.7M1.0B1.0B
Income tax119.8M198.2M139.2M120.3M146.0M180.4M198.1M184.9M174.1M179.7M
Net income384.4M376.0M512.6M561.1M602.7M769.0M872.5M788.8M863.1M869.2M
EPS (diluted)14.2214.2419.8822.4724.9132.7838.4135.9040.4842.05
Diluted shares27.0M26.4M25.8M25.0M24.2M23.5M22.7M22.0M21.3M20.7M
Depreciation & amortization32.7M33.5M37.2M39.0M42.0M45.0M46.8M49.0M50.4M51.1M
Gross margin57.3%57.8%57.4%57.9%58.4%58.4%58.9%59.2%60.1%59.4%
Net margin15.3%13.8%17.5%18.6%19.5%20.7%22.3%20.8%22.3%21.6%
Revenue growth-+8.6%+7.7%+2.5%+2.5%+20.5%+5.4%-3.4%+2.2%+4.0%
EPS growth-+0.1%+39.6%+13.0%+10.9%+31.6%+17.2%-6.5%+12.8%+3.9%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash158.7M148.7M178.1M207.8M94.3M98.6M96.0M69.8M59.4M66.9M
Receivables455.0M528.6M535.5M566.3M593.8M647.3M709.3M663.9M687.1M778.2M
Inventory222.0M255.4M268.8M274.3M297.6M414.5M441.7M385.9M342.3M387.2M
Current assets896.8M1.0B1.0B1.1B1.1B1.3B1.4B1.2B1.2B1.4B
Property & equipment563.7M668.3M717.5M748.7M798.9M799.4M778.6M803.4M770.3M845.6M
Goodwill476.4M539.8M534.8M536.0M550.3M648.6M660.2M670.1M668.9M739.2M
Total assets2.2B2.5B2.6B2.8B2.8B3.3B3.5B3.4B3.2B3.7B
Accounts payable146.6M167.6M196.6M185.6M175.8M272.9M252.5M210.4M215.8M266.6M
Current liabilities587.5M689.7M734.4M754.5M840.3M1.1B1.1B1.2B1.2B1.2B
Total debt894.0M979.8M1.0B1.3B1.3B1.7B2.0B2.1B2.0B2.2B
Total liabilities1.7B2.0B2.0B2.4B2.5B3.2B3.5B3.5B3.4B3.7B
Shareholders' equity434.9M547.3M590.1M420.8M282.7M171.4M24.8M-149.9M-126.9M-23.6M
Retained earnings3.1B3.4B3.9B4.5B5.1B5.9B6.7B7.5B8.4B9.2B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow460.8M516.3M565.0M603.5M724.7M908.8M859.1M965.9M968.3M955.8M
Capital spending124.0M127.4M142.7M97.3M92.5M107.6M121.2M105.3M103.9M107.1M
Free cash flow336.8M388.9M422.3M506.1M632.2M801.2M737.8M860.6M864.4M848.6M
Stock-based pay (added back)15.3M16.6M17.6M18.3M18.7M19.6M19.7M17.9M20.0M22.5M
Buybacks500.0M400.0M475.0M775.0M775.0M1000.0M1.1B900.0M850.0M800.0M
Acquisitions111.4M108.4M5.5M2.0M6.2M220.9M38.0M5.8M10.1M93.8M
Investing cash flow-231.5M-217.3M-138.9M-99.1M-100.4M-314.1M-139.4M-131.7M-119.5M-193.9M
Financing cash flow-163.6M-319.5M-388.0M-477.4M-743.9M-590.5M-716.0M-859.6M-856.0M-755.2M

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)15.3M16.6M17.6M18.3M18.7M19.6M19.7M17.9M20.0M22.5M
Stock-based pay / revenue0.6%0.6%0.6%0.6%0.6%0.5%0.5%0.5%0.5%0.6%
Operating lease cost------37.1M37.8M39.4M40.3M
Operating lease cash paid---33.5M36.0M35.5M35.2M36.6M36.6M40.8M
Right-of-use assets--92.7M87.3M-118.5M114.3M114.4M106.8M111.7M
Operating lease liabilities--93.5M88.5M99.0M119.0M116.2M115.4M117.2M113.2M
Finance lease liabilities---------16.3M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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