Ametek Inc/
AME · NYSEIndustrial Instruments For Measurement, Display, and Control · Fiscal year ends Dec 31
Ametek Inc/ reported revenue of $7.4B in the fiscal year ended Dec 2025, up 6.6% from the year before. Operating income was $1.9B, an operating margin of 25.8%, and net income was $1.5B. Operating cash flow of $1.8B less capital expenditure of $130M left free cash flow of $1.7B. Net debt was $1.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $5.5B | $6.2B | $6.6B | $6.9B | $7.4B |
| Cost of revenue | $3.6B | $4B | $4.2B | $4.5B | $4.7B |
| Gross profit | $1.9B | $2.1B | $2.4B | $2.5B | $2.7B |
| Research & development | $194M | $199M | $221M | $237M | $236M |
| Selling, general & admin | $604M | $645M | $677M | $697M | $757M |
| Operating income | $1.3B | $1.5B | $1.7B | $1.8B | $1.9B |
| Interest expense | $80M | $83M | $82M | $113M | $81M |
| Pre-tax income | $1.2B | $1.4B | $1.6B | $1.7B | $1.8B |
| Income tax | $233M | $269M | $293M | $285M | $318M |
| Net income | $990M | $1.2B | $1.3B | $1.4B | $1.5B |
| Diluted EPS | 4.25 | 5.01 | 5.67 | 5.93 | 6.40 |
| Diluted shares | 233M | 232M | 232M | 232M | 231M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $347M | $345M | $410M | $374M | $458M |
| Receivables | $829M | $919M | $1B | $949M | $1.1B |
| Inventory | $769M | $1B | $1.1B | $1B | $1.1B |
| Current assets | $2.1B | $2.5B | $2.8B | $2.6B | $3B |
| Net PP&E | $617M | $636M | $891M | $819M | $855M |
| Goodwill | $5.2B | $5.4B | $6.4B | $6.6B | $7.2B |
| Total assets | $11.9B | $12.4B | $15B | $14.6B | $16.1B |
| Payables | $470M | $497M | $517M | $523M | $618M |
| Deferred revenue | $299M | $358M | $376M | $364M | $396M |
| Current liabilities | $1.6B | $1.6B | $2.9B | $2.1B | $2.8B |
| Short-term debt | $315M | $226M | $1.4B | $654M | $1.2B |
| Long-term debt | $2.2B | $2.2B | $1.9B | $1.4B | $1.1B |
| Total liabilities | $5B | $5B | $6.3B | $5B | $5.4B |
| Shareholders' equity | $6.9B | $7.5B | $8.7B | $9.7B | $10.6B |
| Backlog (remaining obligations) | – | – | – | $542M | $627M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.2B | $1.1B | $1.7B | $1.8B | $1.8B |
| Capital expenditure | $111M | $139M | $136M | $127M | $130M |
| Free cash flow | $1B | $1B | $1.6B | $1.7B | $1.7B |
| Depreciation & amortisation | $292M | $319M | $338M | $383M | $423M |
| Stock-based compensation | $46M | $47M | $46M | $48M | $48M |
| Acquisitions | $2B | $430M | $2.2B | $118M | $933M |
| Share buybacks | $15M | $333M | $8M | $212M | $434M |
| Dividends paid | $185M | $202M | $230M | $259M | $285M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.9% | 7.3% | 5.2% | 6.6% |
| Operating income growth (YoY) | – | 14.7% | 13.8% | 4.2% | 7.3% |
| EPS growth (YoY) | – | 17.9% | 13.2% | 4.6% | 7.9% |
| Gross margin | 34.5% | 34.9% | 36.1% | 35.7% | 36.0% |
| Operating margin | 23.6% | 24.4% | 25.9% | 25.6% | 25.8% |
| Net margin | 17.9% | 18.9% | 19.9% | 19.8% | 20.0% |
| Return on equityBlank when equity is negative | 14.4% | 15.5% | 15.0% | 14.3% | 13.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.7% | 13.8% | 14.1% | 14.2% | 14.4% |
| Free cash flow margin | 18.9% | 16.4% | 24.2% | 24.5% | 22.6% |
| Cash conversion (CFO ÷ net income) | 1.17x | 0.99x | 1.32x | 1.33x | 1.22x |
| Receivable days | 55 | 55 | 56 | 50 | 55 |
| Inventory days | 77 | 95 | 98 | 84 | 85 |
| Payable days | 47 | 45 | 45 | 43 | 48 |
| Interest cover | 16.3x | 18.0x | 20.9x | 15.8x | 23.5x |
| Debt ÷ equity | 0.37x | 0.32x | 0.38x | 0.22x | 0.21x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $2.2B | $2B | $2.9B | $1.7B | $1.8B |
| Current ratio | 1.36x | 1.62x | 0.98x | 1.24x | 1.06x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.