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Mettler Toledo International Inc/ vs Waters: revenue, profit, margins and growth compared

Mettler Toledo International Inc/ brought in $4B of revenue in fiscal 2025, Waters $3.2B in fiscal 2025. Revenue changed by +4.0% at Mettler Toledo International Inc/ and +7.0% at Waters on the year before, so Waters grew faster. Mettler Toledo International Inc/ kept 21.6% of its revenue as net profit, Waters 20.3%. Free cash flow was $848.6M at Mettler Toledo International Inc/ and $539.8M at Waters.

Open the MTD pageOpen the WAT page

Side by side, latest fiscal year

MTDWAT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4B$3.2B
Revenue growth+4.0%+7.0%
Net income$869.2M$642.6M
Net margin21.6%20.3%
Free cash flow$848.6M$539.8M
Free cash flow margin21.1%17.1%
Earnings per share (diluted)$42.05$10.76
Cash$66.9M$588M
Debt$2.1B$1.4B
Price to earnings36.040.3
Market value$30.3B$42.6B
Dividend yieldn/an/a
Rank by revenue in sector#140 of 451 · Industrials#176 of 451 · Industrials

Over the years

Revenue
MTD FY2018: $2.9BMTD FY2019: $3BMTD FY2020: $3.1BMTD FY2021: $3.7BMTD FY2022: $3.9BMTD FY2023: $3.8BMTD FY2024: $3.9BMTD FY2025: $4BWAT FY2018: $2.4BWAT FY2019: $2.4BWAT FY2020: $2.4BWAT FY2021: $2.8BWAT FY2022: $3BWAT FY2023: $3BWAT FY2024: $3BWAT FY2025: $3.2BFY18FY19FY20FY21FY22FY23FY24FY25
MTD $4BWAT $3.2B
Net income
MTD FY2018: $512.6MMTD FY2019: $561.1MMTD FY2020: $602.7MMTD FY2021: $769MMTD FY2022: $872.5MMTD FY2023: $788.8MMTD FY2024: $863.1MMTD FY2025: $869.2MWAT FY2018: $593.8MWAT FY2019: $592.2MWAT FY2020: $521.6MWAT FY2021: $692.8MWAT FY2022: $707.8MWAT FY2023: $642.2MWAT FY2024: $637.8MWAT FY2025: $642.6MFY18FY19FY20FY21FY22FY23FY24FY25
MTD $869.2MWAT $642.6M
Net margin
MTD FY2018: 17.5%MTD FY2019: 18.6%MTD FY2020: 19.5%MTD FY2021: 20.7%MTD FY2022: 22.3%MTD FY2023: 20.8%MTD FY2024: 22.3%MTD FY2025: 21.6%WAT FY2018: 24.5%WAT FY2019: 24.6%WAT FY2020: 22.1%WAT FY2021: 24.9%WAT FY2022: 23.8%WAT FY2023: 21.7%WAT FY2024: 21.6%WAT FY2025: 20.3%FY18FY19FY20FY21FY22FY23FY24FY25
MTD 21.6%WAT 20.3%
Revenue growth
MTD FY2019: +2.5%MTD FY2020: +2.5%MTD FY2021: +20.5%MTD FY2022: +5.4%MTD FY2023: -3.4%MTD FY2024: +2.2%MTD FY2025: +4.0%WAT FY2019: -0.6%WAT FY2020: -1.7%WAT FY2021: +17.8%WAT FY2022: +6.7%WAT FY2023: -0.5%WAT FY2024: +0.1%WAT FY2025: +7.0%FY19FY20FY21FY22FY23FY24FY25
MTD +4.0%WAT +7.0%
Free cash flow
MTD FY2018: $422.3MMTD FY2019: $506.1MMTD FY2020: $632.2MMTD FY2021: $801.2MMTD FY2022: $737.8MMTD FY2023: $860.6MMTD FY2024: $864.4MMTD FY2025: $848.6MWAT FY2023: $442.2MWAT FY2024: $619.6MWAT FY2025: $539.8MFY18FY19FY20FY21FY22FY23FY24FY25
MTD $848.6MWAT $539.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Mettler Toledo International Inc/ and Waters

Which is bigger by revenue, Mettler Toledo International Inc/ or Waters?

Mettler Toledo International Inc/ is bigger by revenue: $4B in fiscal 2025, against $3.2B for Waters in fiscal 2025.

Which keeps more of its revenue as profit, Mettler Toledo International Inc/ or Waters?

Mettler Toledo International Inc/ had a net margin of 21.6% in fiscal 2025; Waters had 20.3% in fiscal 2025.

Which grew revenue faster, Mettler Toledo International Inc/ or Waters?

In their latest fiscal years revenue changed by +4.0% at Mettler Toledo International Inc/ and +7.0% at Waters.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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