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Mettler-Toledo International, Inc.

MTD Healthcare Diagnostics & Research

Mettler-Toledo International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.0 billion, up 3.98% from fiscal 2024.

Revenue
+6.27%
EPS
+16.2%
Free cash flow
+33.0%
Total debt
−8.42%

Quarter to September 2026, against a year earlier

1,739.58 60.50 +3.60%
Market cap
$33.6B
P/E
37.7×
Fwd P/E
36.1×
Dividend yield
—
F-score
5/9
Altman Z
10.23
Beneish M
−2.44
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • US Operations
  • Western European Operations
  • Other Operations
  • Chinese Operations
  • Swiss Operations

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 7.22
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 1 — — — — — 5 — — —
Insider Ownership 0.37%

Capital & Financial Ratios $m

Size
Market Cap 33,640.00
Revenue ttm 4,198.47
Net income ttm 934.07
Free cash flow ttm 984.37
Net debt Q 1,971.45
Valuation
P/E 37.70 (above 35: high)
Forward P/E 36.10 (above 35: high)
Price / sales 8.29
Forward P/S Powerpack
Price / FCF 39.87
Price / book 448.31 (above 6: high)
Financial health
Current ratio Q 1.10
Debt / equity Q 26.06 (above 2: weak)
Interest coverage Q 0.00
Growth
Revenue growth Q +6.27% (above 0%: growing)
Operating income growth Q +18.35% (above 0%: growing)
EPS, this year +10.82%
EPS, next year A +9.30%
Revenue, next year A +5.31%
EPS, past 5 yrs +11.04%
EPS, next 5 yrs A +10.15%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.8×, against a ten-year median of 7.0×; over the ten years it ranged from 3.8× in 2016 to 11.0× in 2021.
P/E against its own 10 years 66.97%
10-year low 10-year high
P/S against its own 10 years 83.10%
10-year low 10-year high
P/B against its own 10 years 89.79%
10-year low 10-year high
EV/Sales against its own 10 years 82.88%
10-year low 10-year high
EV/FCF against its own 10 years 68.59%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 70 59 67 52
Receivables 664 687 778 733
Inventory 386 342 387 440
Other 111 105 130 151
1,230 1,194 1,363 1,376
2023 2024 2025 Q'26
Payables 210 216 267 261
ST’ Debt 192 183 64 60
Other — — — —
1,181 1,168 1,198 1,250

Compound Annual Growth %

10y 5y 3y
Sales 5.33% 5.47% 0.90%
Cash Flow 8.07% 5.69% 3.62%
Earnings 9.44% 7.60% (0.13%)
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 10.78 Actual 11.46

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 10.62 11.15 Beat by 0.53
Q4 FY25 12.76 13.36 Beat by 0.60
Q1 FY26 8.70 8.91 Beat by 0.21
Q2 FY26 10.78 11.46 Beat by 0.68
Q3 FY25 12.11 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 8.33 11.55 12.29 — —
’25 7.81 9.76 10.57 13.98 42.05
’24 8.24 10.37 9.96 11.96 40.48
’23 8.47 9.69 9.21 8.52 35.90
’22 7.55 9.29 9.76 11.86 38.41
’21 6.32 7.85 8.71 9.94 32.78
’20 4.03 5.22 6.68 9.03 24.91
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 947 1,027 1,094 — —
’25 884 983 1,030 1,130 4,026
’24 926 947 955 1,045 3,872
’23 929 982 942 935 3,788
’22 898 978 986 1,058 3,920
’21 804 924 952 1,037 3,718
’20 649 691 807 938 3,085
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 140 310 309 — —
’25 194 236 299 226 956
’24 190 258 255 266 968
’23 153 267 264 282 966
’22 91 219 245 304 859
’21 159 246 263 241 909
’20 66 183 225 251 725
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 122 283 309 — —
’25 177 212 275 184 849
’24 173 234 233 226 866
’23 130 238 244 249 861
’22 72 176 219 272 738
’21 134 226 241 204 805
’20 47 167 206 216 635
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 14.4% a year for ten years. It grew 10.8% a year over the last ten.

Implied
14.4%
10 years, reported
10.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,508 2,725 2,936 3,009 3,085 3,718 3,920 3,788 3,872 4,026 4,198 +5.4% 4,240 4,441 4,663 +5.0%
Gross margin, % 57.32 57.82 57.38 57.87 58.38 58.41 58.88 59.16 60.06 59.37 60.40 +2.0 pt
EBT 504 574 652 681 749 949 1,071 974 1,037 1,049 1,128 +8.5%
EBT margin, % 20.10 21.07 22.21 22.65 24.27 25.53 27.31 25.70 26.79 26.05 26.87 +5.9 pt
Net income 384 376 513 561 603 769 873 789 863 869 934 +9.5%
Per share, $
Per share, $ Revenue 94.59 105.98 116.42 122.46 129.18 160.74 174.27 173.39 182.47 195.36 210.30 +8.4%
Earnings 14.49 14.62 20.33 22.84 25.24 33.25 38.79 36.10 40.67 42.17 46.26 +12.6%
Cash flow 17.38 20.08 22.41 24.56 30.34 39.29 38.19 44.21 45.63 46.37 49.31 +11.5%
Capex (4.66) (4.49) (5.34) (3.90) (3.74) (4.49) (5.37) (4.78) (4.82) (5.20) 0.00 +1.2%
Free cash flow 12.72 15.59 17.07 20.66 26.60 34.80 32.82 39.43 40.81 41.18 49.31 +13.9%
Book value 16.40 21.28 23.40 17.13 11.84 7.41 1.10 (6.86) (5.98) (1.15) 3.89 n/m
Shares, m 27 26 25 25 24 23 22 22 21 21 20 (2.8%)
Valuation, ×
Valuation, × P/E 29.05 42.82 27.78 34.67 45.08 50.98 37.63 33.63 30.06 33.01 37.70 36.5
P/S 4.47 5.91 4.86 6.48 8.82 10.56 8.39 7.00 6.71 7.14 8.29 7.0
P/B 25.75 29.42 24.17 46.32 96.29 229.01 1,326.17 0.00 0.00 0.00 448.31 177.7
EV/Sales 4.76 6.21 5.15 6.84 9.22 10.98 8.88 7.53 7.21 7.65 8.76 7.4
EV/FCF 35.39 42.23 35.12 40.53 44.80 50.74 47.14 33.13 32.24 36.32 42.13 39.8
Cash, $m
Cash, $m Operating cash flow 461 516 565 603 725 909 859 966 968 956 984 +8.4%
Capex (124) (115) (135) (96) (89) (104) (121) (104) (102) (107) (111) (1.6%)
Free cash flow 337 401 430 508 635 805 738 861 866 849 984 +10.8%
Balance, $m
Balance, $m Working capital 309 317 311 355 217 123 227 49 26 165 126 (6.8%)
Net debt 735 831 857 1,083 1,240 1,583 1,919 2,011 1,955 2,085 1,971 +12.3%
Shareholders’ equity 435 547 590 421 283 171 25 (150) (127) (24) 78 n/m
Returns, %
Returns, % ROA 18.63 15.94 19.84 20.75 21.51 25.04 25.59 23.04 26.17 25.00 25.89 +6.4 pt
ROIC 28.69 27.65 29.51 30.26 32.18 35.43 36.22 36.26 38.54 33.91 0.00 +5.2 pt
ROE 75.71 76.56 90.14 111.02 171.37 338.69 889.34 (1,260.59) (623.59) (1,154.87) (1,089.06) (1,230.6) pt
People
People Employees 14,200 15,400 16,000 16,200 16,500 17,800 18,000 17,300 17,300 18,100 — +2.7%
Revenue/emp, $m 0.18 0.18 0.18 0.19 0.19 0.21 0.22 0.22 0.22 0.22 — +2.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Business profile

Updated

Mettler-Toledo is a global supplier of precision instruments and services used in research, quality control and manufacturing. Its equipment measures, weighs, analyzes, inspects and records physical or chemical properties in laboratories, production facilities, logistics operations and food-retail stores.

Its laboratory portfolio includes balances, pipettes, titrators, pH meters, process sensors, thermal-analysis systems, density and refractometry instruments, moisture analyzers, spectrophotometers and cell counters. LabX software manages instrument data and automates laboratory workflows. Process-analytics instruments measure liquid and gas parameters during pharmaceutical, biotechnology, beverage, chemical, refining and power-production processes.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
US Operations 1,496 37.16%
Western European Operations 896 22.25%
Other Operations 789 19.58%
Chinese Operations 635 15.77%
Swiss Operations 211 5.24%
Gross margin 59.37%
Operating margin 27.78%
Pre-tax margin 26.05%

Revenue by segment since 2010

Mettler-Toledo International, Inc. vs peers in Diagnostics & Research (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
IDXX IDEXX Laboratories, Inc. $52.8B 44.8× 37.3× +9.86% (above 0%: growing) +17.30% (above 0%: growing) +17.58% (above 0%: growing) 62.94% 33.14% Compare
A Agilent Technologies, Inc. $48.4B 33.8× 34.1× +8.06% (above 0%: growing) +8.47% (above 0%: growing) +69.50% (above 0%: growing) 55.48% 23.64% Compare
WAT Waters Corporation $44.5B 194× 81.0× +120.91% (above 0%: growing) −67.02% (below 0%: shrinking) −66.71% (below 0%: shrinking) 50.25% 7.24% Compare
IQV IQVIA Holdings Inc. $43.7B 31.8× 34.8× +8.00% (above 0%: growing) +10.16% (above 0%: growing) −21.25% (below 0%: shrinking) 33.83% 12.92% Compare
MTD Mettler-Toledo International, Inc. $33.6B 37.6× 36.1× +4.48% (above 0%: growing) +18.30% (above 0%: growing) +33.01% (above 0%: growing) 63.29% 30.61%
ILMN Illumina, Inc. $31.5B 35.6× 46.4× +4.15% (above 0%: growing) +48.98% (above 0%: growing) +49.80% (above 0%: growing) 73.52% 27.02% Compare
LH Labcorp Holdings Inc. $29.5B 29.5× 26.7× +6.92% (above 0%: growing) +3.18% (above 0%: growing) +44.73% (above 0%: growing) 29.08% 10.55% Compare
DGX Quest Diagnostics Incorporated $28.0B 25.0× 24.4× +9.98% (above 0%: growing) +29.36% (above 0%: growing) +6.21% (above 0%: growing) 33.65% 15.47% Compare
GH Guardant Health, Inc. $20.6B — (loss-making) — (loss-making) +36.12% (above 0%: growing) n/m +18.74% (above 0%: growing) 65.42% (36.78%) Compare
Median of peers $37.6B 33.8× 34.8× +8.96% +10.16% +18.16% 52.87% 14.20%

All 49 Diagnostics & Research stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 94.04%
Held by the ten largest 49.78%
Holder Shares Stake Change
Vanguard 2.54m 11.73% +15.04k
BlackRock 1.88m 8.68% +111.34k
Capital Group 1.60m 7.36% +454.27k
T. Rowe Price 1.01m 4.66% −28.06k
State Street 951.68k 4.39% +9.14k
AllianceBernstein 679.10k 3.13% −78.01k
Geode Capital Management 612.15k 2.82% +6.41k
BNY 596.91k 2.75% −106.57k
Morgan Stanley 465.23k 2.15% −22.85k
Wellington Management 459.06k 2.12% +413.55k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Mettler-Toledo International, Inc. (MTD) Latest News

6 Nov

Impact 3 · · Zacks

5 Nov

Impact 3 · · StockStory
Impact 3 · · Business Wire

26 Oct

Impact 3 · · Barchart

23 Oct

Impact 3 · · StockStory
Impact 3 · · Simply Wall St.

22 Oct

Impact 3 ·

12 Oct

Impact 3 · · Zacks

9 Oct

Impact 4 · · Insider Monkey

27 Sep

Impact 3 · · Simply Wall St.

7 Aug

Impact 3 · · The Motley Fool transcript

5 Aug

Impact 5 ·

3 Aug

Impact 3 ·

31 Jul

Impact 3 ·
Impact 3 · · MarketBeat
Impact 3 ·
Impact 3 · · Moby transcript

30 Jul

Impact 3 ·

29 Jul

Impact 3 ·

9 Jul

Impact 3 ·

2 Jun

Impact 3 · · Simply Wall St.

12 May

Impact 3 · · MarketBeat

9 May

Impact 4 · · Simply Wall St.
Impact 4 · · GuruFocus.com

8 May

Impact 4 · · Zacks
Impact 4 · · Zacks

7 May

Impact 4 · · Zacks
Impact 4 · · StockStory
Impact 4 · · Business Wire

23 Apr

Impact 3 · · Barchart

MTD metrics, ten years each

stockrow.com/MTD · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com