AMETEK INC/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AMETEK INC/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,840	4,300	4,846	5,159	4,540	5,547	6,151	6,597	6,941	7,401
Cost of revenue	2,585	2,861	3,186	3,371	2,997	3,634	4,005	4,212	4,465	4,734
Gross profit	1,255	1,439	1,660	1,788	1,544	1,913	2,145	2,384	2,476	2,667
Research and development	112	130	141	162	159	194	199	221	237	236
Selling, general and administrative	464	535	584	610	516	604	645	677	697	757
General and administrative							92.6	100	105	116
Operating income	791	904	1,076	1,177	1,028	1,309	1,501	1,707	1,780	1,910
Interest expense	94.3	98	82.2	88.5	86.1	80.4	83.2	81.8	113	81.3
Other non-operating income	-3.57	-8.86	-5.62	-19.2	140	-5.12	11.2	-19.3	-5.06	-30.7
Pre-tax income	693	797	988	1,070	1,082	1,223	1,429	1,606	1,662	1,798
Income tax	181	115	210	208	210	233	269	293	285	318
Net income	512	681	778	861	872	990	1,160	1,313	1,376	1,480
EBITDA	971	1,087	1,275	1,411	1,283	1,601	1,820	2,045	2,162	2,333
EPS, basic	2.20	2.96	3.37	3.78	3.80	4.29	5.04	5.70	5.95	6.42
EPS, diluted	2.19	2.94	3.34	3.75	3.77	4.25	5.01	5.67	5.93	6.40
Shares, basic (weighted)	233	230	231	228	229	231	230	231	231	230
Shares, diluted (weighted)	234	232	233	229	231	233	232	232	232	231
Dividend per share	0.36	0.36	0.56	0.56

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	717	646	354	393	1,213	347	345	410	374	458
Receivables	592	668	733	745	597	829	919	1,013	949	1,119
Inventory	492	541	625	625	559	769	1,044	1,132	1,022	1,106
Other current assets	76.5	79.7	125	263	153	184	219	269	258	336
Total current assets	1,928	1,935	1,836	2,026	2,522	2,129	2,528	2,825	2,603	3,020
Property, plant and equipment	473	493	554	549	527	617	636	891	819	855
Lease right-of-use assets				180	167	170	170	230	236	273
Goodwill	2,819	3,116	3,612	4,048	4,225	5,239	5,373	6,448	6,556	7,171
Intangible assets	1,734	2,013	2,404	2,763	2,624	3,369	3,342	4,165	3,915	4,128
Total assets	7,101	7,796	8,662	9,845	10,357	11,898	12,431	15,024	14,631	16,068
Accounts payable	370	437	400	377	360	470	497	517	523	618
Accrued liabilities	246	359	314	364	350	443	435	503	473	537
Deferred revenue		0	137	157	195	299	358	376	364	396
Short-term debt	279	308	359	497	132	315	226	1,418	654	1,209
Total current liabilities	924	1,139	1,259	1,426	1,076	1,563	1,564	2,883	2,099	2,843
Long-term debt	2,063	1,866	2,274	2,271	2,281	2,229	2,159	1,895	1,425	1,074
Lease liabilities				143	128	129	129	182	190	227
Other non-current liabilities	235	251	359	496	517	514	537	679	621	733
Total liabilities	3,844	3,768	4,420	4,729	4,408	5,026	4,955	6,293	4,976	5,439
Total debt	2,342	2,174	2,633	2,769	2,414	2,544	2,385	3,313	2,080	2,283
Paid-in capital	604	661	707	833	922	1,013	1,094	1,169	1,265	1,317
Retained earnings	4,404	5,002	5,654	6,388	7,095	7,900	8,857	9,940	11,058	12,252
Treasury stock	-1,212	-1,209	-1,570	-1,574	-1,565	-1,573	-1,903	-1,897	-2,114	-2,544
Other comprehensive income	-542	-429	-551	-533	-504	-470	-575	-485	-556	-399
Shareholders' equity	3,257	4,028	4,242	5,115	5,949	6,872	7,477	8,730	9,655	10,629
Total equity	3,257	4,028	4,242	5,115	5,949	6,872	7,477	8,730	9,655	10,629
Total liabilities and equity	7,101	7,796	8,662	9,845	10,357	11,898	12,431	15,024	14,631	16,068
Shares outstanding	229	231	227	229	231	232	230	231	231	229

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	512	681	778	861	872	990	1,160	1,313	1,376	1,480
Depreciation and amortization	180	183	199	234	255	292	319	338	383	423
Stock-based compensation	22	25.1	27.3	40.4	41.6	46.1	47.4	46.2	47.9	47.8
Deferred income tax	-5.63	-91.2	-73.7	19.4	1.84	-29.8	-67.8	-91.9	-12.9	-70.7
Change in receivables	14.8	-24.6	-13.4	14.4	163	-173	-86.7	8.45	53.5	-55.2
Cash from operations	757	833	926	1,114	1,281	1,160	1,149	1,735	1,829	1,802
Capital expenditures	-63.3	-75.1	-82.1	-102	-74.2	-111	-139	-136	-127	-130
Acquisitions	-391	-557	-1,129	-1,062	-117	-1,959	-430	-2,238	-118	-933
Cash from investing	-452	-626	-1,210	-1,151	61.6	-2,056	-553	-2,376	-245	-1,063
Debt issued	821	0	560	100	0	0
Debt repaid	-48.7	-270	-305	-100	-103	-59.7	0	0	-300	-515
Stock issued	17.6	40	30	90.4	64.9	60.3	49.9	50.9	66.9	36.4
Share buybacks	-336	-6.87	-368	-11.9	-4.69	-14.7	-333	-7.77	-212	-434
Dividends paid	-83.3	-82.7	-129	-127	-165	-185	-202	-230	-259	-285
Cash from financing	57.1	-329	13	72.9	-539	39.3	-576	697	-1,602	-686
Exchange rate effect	-25.3	50.8	-20.8	2.65	16.6	-10	-22.3	8.27	-17.4	31.3
Net change in cash	336	-71	-292	39.1	820	-866	-1.39	64.4	-35.8	84
Free cash flow	694	758	843	1,012	1,207	1,050	1,010	1,599	1,702	1,672
Interest paid	91.8	96.1	83.6	84.9	86.2	78.7	80.2	66.3	114	77.5
Income taxes paid	181	177	195	222	210	246	299	335	300	404

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $250.74 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.4%	Gross profit / revenue.
Operating margin	25.9%	Operating income / revenue.
EBITDA margin	31.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.3%	Pre-tax income / revenue.
Net margin	20.0%	Net income / revenue.
FCF margin	23.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	24.9%	Cash from operations / revenue.
Effective tax rate	17.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.5%	Net income / average total assets.
Return on invested capital (ROIC)	14.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	10.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.7%	Capital expenditures / revenue.
D&A / revenue	5.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	7.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	7.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	11.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	7.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	8.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	13.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	7.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	8.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	8.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	11.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	7.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	8.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	11.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-1.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	16.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-1.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	18.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	10.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	12.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	9.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.21x	Current assets / current liabilities.
Quick ratio	0.63x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.19x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.09x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	6.4%	Total debt / total assets.
Liabilities / assets	32.1%	Total liabilities / total assets.
Net debt	$560.1M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.23x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	21.1x	Operating income / interest expense.
Working capital	$568.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	70.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$349.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.47x	Revenue / average total assets.
Fixed asset turnover	9.25x	Revenue / average property, plant and equipment.
Inventory turnover	4.19x	Cost of revenue / average inventory.
Days inventory	87 days	365 x average inventory / cost of revenue.
Receivables turnover	6.72x	Revenue / average receivables.
Days sales outstanding	54 days	365 x average receivables / revenue.
Days payables	47 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	94 days	Days inventory + days sales outstanding - days payables.
FCF conversion	115.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$6.86	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$34.21	Revenue / diluted weighted shares.
FCF per share	$7.94	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.53	Cash from operations / diluted weighted shares.
Book value per share	$48.99	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$1.52	Tangible book value / shares outstanding.
Cash per share	$2.16	(Cash + short-term investments) / shares outstanding.
Payout ratio	18.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	16.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	24.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$57.48B	Share price x shares outstanding.
Enterprise value	$58.05B	Market cap + total debt - cash - short-term investments.
P/E	36.5x	Market cap / net income. Only when net income is positive.
P/S	7.31x	Market cap / revenue.
P/B	5.10x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	31.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	29.3x	Market cap / cash from operations, when positive.
EV/Sales	7.38x	Enterprise value / revenue.
EV/EBIT	28.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	31.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.2%	Free cash flow / market cap.
Earnings yield	2.7%	Net income / market cap (the inverse of P/E).
Dividend yield	0.5%	Dividends paid over the period / market cap.
Shareholder yield	1.3%	(Dividends paid + share buybacks) / market cap.
PEG	4.29x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was AMETEK INC/'s revenue in fiscal 2025?

AMETEK INC/ reported revenue of $7.40B for fiscal 2025, 6.6% higher than the year before.

Was AMETEK INC/ profitable in fiscal 2025?

Yes. Net income was $1.48B, a net margin of 20%.

How much free cash flow did AMETEK INC/ generate in fiscal 2025?

Cash from operations of $1.80B minus capital expenditures of $130.2M left free cash flow of $1.67B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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