Ametek (AME)
Industrials · $56.2B market cap · SEC CIK 0001037868
fundamentals score out of 100
Next reports on Oct 28, 2026, before the open, with analysts expecting $2.12 in earnings per share.
The case for AME
- Generated $1.7B of free cash flow in FY2025, 23% of revenue.
- 20% of revenue drops through to net profit.
- Revenue growing 12.7% year over year.
- Has compounded revenue at 10.3% a year over five years.
The case against
- Pricey at 35.7× earnings, against a long-run market average nearer 20×.
- Price/sales of 7.1× is higher than 96% of Industrials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 35 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 71 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 65 |
| Momentumhow the price has behaved lately | 70 |
| Stabilityhow violently it moves, what it owes and what it pays you | 72 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 35.7× |
|---|---|
| Price / book | 4.92× |
| Price / sales | 7.1× |
| Revenue growth (YoY) | +12.7% |
| EPS growth (YoY) | +10.3% |
| Gross margin | 37% |
| Operating margin | 26% |
| Net margin | 20% |
| Return on equity | 15% |
| Debt / equity | 0.18× |
| Current ratio | 1.21 |
| Dividend yield | 0.64% |
| Beta | 0.98 |
| 52-week range | $179.24 – $261.16 |
| Position in that range | 81% of the way up |
| 3-month return | +1.6% |
| 1-year return | +28.4% |
Five years of financials, as filed
Pulled from Ametek's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $7.4B | $6.9B | $6.6B | $6.2B | $5.5B |
| Operating income | $1.9B | $1.8B | $1.7B | $1.5B | $1.3B |
| Net income | $1.5B | $1.4B | $1.3B | $1.2B | $990M |
| Operating cash flow | $1.8B | $1.8B | $1.7B | $1.1B | $1.2B |
| Capital expenditure | $130M | $127M | $136M | $139M | $111M |
| Total assets | $16.1B | $14.6B | $15.0B | $12.4B | $11.9B |
| Total liabilities | $5.4B | $5.0B | $6.3B | $5.0B | $5.0B |
| Shareholder equity | $10.6B | $9.7B | $8.7B | $7.5B | $6.9B |
| Cash | $458M | $374M | $410M | $345M | $347M |
| Long-term debt | $1.1B | $1.4B | $1.9B | $2.2B | $2.2B |
| Free cash flow | $1.7B | $1.7B | $1.6B | $1.0B | $1.0B |
| Operating margin | 25.8% | 25.6% | 25.9% | 24.4% | 23.6% |
| Net margin | 20.0% | 19.8% | 19.9% | 18.9% | 17.9% |
| Diluted shares | 231M | 232M | 232M | 232M | 233M |
Share count is essentially flat over 4 years.
What Ametek says it does
Development of Business AMETEK, Inc. ("AMETEK" or the "Company") is incorporated in Delaware. Its predecessor was originally incorporated in Delaware in 1930 under the name American Machine and Metals, Inc. AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. AMETEK maintains its principal executive offices at 1100 Cassatt Road, Berwyn, Pennsylvania, 19312. Listed on the New York Stock Exchange (symbol: AME), the common stock of AMETEK is a component of the Standard and Poor’s 500 and the Russell 1000 Indices. Products and Services AMETEK’s products are marketed and sold worldwide through two operating groups: Electronic Instruments ("EIG") and Electromechanical ("EMG"). Electronic Instruments is a leader in the design and manufacture of advanced instruments for the process, power and industrial, and aerospace markets.…
Risk factors AME lists in its 10-K
- Results of Operations for the year ended December 31, 2025 compared with the year ended December 31, 2024
- Acquisition subsequent to December 31, 2025
- Contractual Obligations and Other Commitments
- Research, Development and Engineering
- Critical Accounting Policies and Estimates
- Goodwill and Other Intangible Assets
- Financial Statement Schedules (Item 15(a)(2))
- Management’s Responsibility for Financial Statements
- Management’s Report on Internal Control over Financial Reporting
- Opinion on Internal Control over Financial Reporting
- Definition and Limitations of Internal Control Over Financial Reporting
- Opinion on the Financial Statements
- Impairment Assessment of Indefinite-Lived Intangible Assets (other than Goodwill)
- How We Addressed the Matter in Our Audit