Scientific & technical instruments
19 companies · $154B combined revenue · $26.9B operating profit
The typical US-listed scientific & technical instruments company grew revenue 3.9% and earnings 5.8% in its latest year, at a 17.3% operating margin, and 5 of 19 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
Growth engines: the 4 Cylinders
All four working: 6% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more16%
- Operating leverage · Operating income growing faster than a growing revenue50%
- Margin expansion · Operating margin up 1 point or more37%
- Debt reduction · Debt down 5% or more, or net cash31%
Combined revenue · 19 companies reporting in US dollars
Combined operating margin
All 19 companies
| Median | – | 3.9% | 5.8% | 17.3% | 8.1% | 0.52x |
| TMOThermo Fisher Scientific | $44.6B | 3.9% | 5.8% | 17.4%▲ | 8.1% | 0.80x▼ |
| DHRDanaher | $24.6B | 2.9%▼ | -7.3%▼ | 19.1%▲ | 6.1%▼ | 0.35x▲ |
| TTTrane Technologies | $21.3B | 7.5%▲ | 13.7%▲ | 18.6%▲ | 26.2%▲ | 0.54x▼ |
| KEYSKeysight Technologies | $5.4B | 8%▲ | 38.4%▲ | 16.3%▼ | 9.3%▲ | 0.43x▲ |
| AMEAmetek Inc/ | $7.4B | 6.6%▲ | 7.6%▲ | 25.8%▲ | 14.4%▲ | 0.21x▲ |
| COHRCoherent | $7.1B | 22.5%▲ | 1531%▲ | 11.9%▼ | 5.5%▼ | 0.30x▲ |
| ROKRockwell Automation | $8.3B | 0.9%▼ | -8.8%▼ | 20.4%▲ | 21.9%▲ | 0.72x▼ |
| ROPRoper Technologies | $7.9B | 12.3%▲ | -0.8%▼ | 28.3%▲ | 7.2%▼ | 0.47x▲ |
| VLTOVeralto | $5.5B | 6%▲ | 12.8%▲ | 23.2%▲ | 22.7%▲ | 0.86x▼ |
| FTVFortive | $4.2B | 1.9%▼ | -30.5%▼ | 17.3% | 7.6%▼ | 0.50x▲ |
| TRMBTrimble | $3.6B | -2.6%▼ | -71.8%▼ | 16.5%▼ | 7.6%▼ | 0.24x▲ |
| CGNXCognex | $994M | 8.7%▲ | 7.8%▲ | 16.3%▼ | 8.9%▲ | – |
| RALRalliant | $2.1B | -4%▼ | -445%▼ | -57.2%▼ | -44.4%▼ | 0.70x▼ |
| STSensata Technologies | $3.7B | -5.8%▼ | -75.6%▼ | 6.4%▼ | 4%▼ | 1.02x▼ |
| VNTVontier | $3.1B | 3.2%▼ | -3.8%▼ | 18.3%▲ | 18.2%▲ | 1.68x▼ |
| MIRMirion Technologies | $925M | 7.5%▲ | – | 5.6%▼ | 1.6%▼ | 0.24x▲ |
| BMIBadger Meter | $917M | 10.9%▲ | 13.4%▲ | 20%▲ | 22.3%▲ | – |
| ITRIITRON | $2.4B | -3%▼ | 25.9%▲ | 13.2%▼ | 11.6%▲ | 0.73x▼ |
| AEHRAEHR Test Systems | $50M | -15.2%▼ | – | -28.3%▼ | -6.2%▼ | – |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).