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Mettler-Toledo International (MTD)
NYSE:MTD
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Mettler-Toledo
(NYSE:MTD)
66Neutral
Positive Factors
Momentum in Lab and Product Inspection
MTD exited 2024 on a high note as momentum picked up in Lab and Product Inspection, which should add confidence to 2025 growth expectations.
Profitability
Adj. EPS in the third quarter was 2% above Street expectations, indicating better-than-expected profitability.
Negative Factors
Earnings Guidance
The 2025 EPS guidance is disappointing as it implies a lower growth compared to Street expectations.
Industrial Sector Performance
Weakness in the Industrial sector in China, which has declined each quarter since 3Q23, affected overall performance.
Macro Uncertainty
Despite the stronger core growth momentum exiting 4Q, MTD maintained its 2025 core growth outlook of +3%, with management noting more than usual macro uncertainty.
Mettler-Toledo (MTD) vs. S&P 500 (SPY)
Market Cap
$22.93B
Dividend YieldN/A
Average Volume (3M)231.79K
Price to Earnings (P/E)27.1
Beta (1Y)1.11
Revenue Growth2.22%
EPS Growth12.78%
CountryUS
Employees16,000
SectorHealthcare
Sector Strength57
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)40.52
Shares Outstanding20,840,954
10 Day Avg. Volume239,269
30 Day Avg. Volume231,788
Financial Highlights & Ratios
PEG Ratio2.12
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.22
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit11.99
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1,265.44Price Target Upside15.04% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
Mettler-Toledo Business Overview & Revenue Model
Company DescriptionMettler-Toledo International Inc. engages in the manufacture and supply of precision instruments and services worldwide. It operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments. Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection, x-ray, checkweighing, camera-based imaging equipment, track-and-trace solutions, and product inspection systems. The company's retail weighing solutions consist of networked scales and software, stand-alone scales, and automated packaging and labeling solutions for handling fresh goods. It serves the life science industry, independent research organizations, and testing labs; food and beverage manufacturers; food retailers; chemical, specialty chemical, and cosmetics companies; food retailers; transportation and logistics, metals, and electronics industries; and the academic community through its direct sales force and indirect distribution channels. The company was incorporated in 1991 and is based in Columbus, Ohio.
How the Company Makes MoneyMettler-Toledo makes money primarily through the sale of precision instruments and related services. The company's revenue streams include the sale of laboratory instruments such as balances and scales, industrial instruments for process analytics and inline measurement, and food retail solutions like checkout scales and packaging equipment. Additionally, Mettler-Toledo generates revenue from after-sales services, which include installation, calibration, and maintenance of its instruments. The company benefits from long-term service contracts and recurring maintenance agreements, which provide a steady income stream. Mettler-Toledo's ability to innovate and customize solutions for specific customer needs also plays a significant role in its financial success. Strategic partnerships and a strong global distribution network further enhance the company's market reach and revenue generation capabilities.
Mettler-Toledo Financial Statement Overview
Summary
Mettler-Toledo demonstrates strong profitability with high margins and robust cash flow metrics, despite negative revenue growth and past financial instability indicated by historical negative equity. Overall, the financial outlook is favorable but tempered by certain risks.Income Statement
Mettler-Toledo's TTM (Trailing-Twelve-Months) gross profit margin is 59.66%, indicating strong profitability. The net profit margin is 22.17%, reflecting efficient cost management. However, the revenue growth rate is negative at -1.09%, indicating a decline in sales compared to the previous annual report. The EBIT margin is a robust 30.54%, and the EBITDA margin stands at 31.45%, both suggesting solid operational efficiency. Despite the negative revenue growth, margins remain strong, supporting a high income statement score.75
Positive
Balance Sheet
The company's debt-to-equity ratio cannot be calculated due to negative equity in previous periods, posing a risk factor. However, the return on equity (ROE) for the TTM is not computable due to the same issue. The equity ratio for TTM is 100%, indicating full asset financing by equity. The company's high debt levels and negative equity in prior years suggest financial instability, warranting a moderate score.55
Neutral
Cash Flow
The TTM free cash flow to net income ratio is 1.02, and the operating cash flow to net income ratio is 1.15, demonstrating strong cash-generating efficiency relative to net income. The free cash flow growth rate compared to the previous annual report is 0.53%, showing stable cash flow despite revenue contraction. Overall, the cash flow position is robust, leading to a high score.80
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 3.87B | 3.79B | 3.92B | 3.72B | 3.09B | Gross Profit |
| 2.33B | 2.24B | 2.31B | 2.17B | 1.80B | EBIT |
| 1.13B | 1.15B | 1.14B | 997.84M | 797.88M | EBITDA |
| 1.22B | 1.17B | 1.24B | 1.10B | 885.96M | Net Income Common Stockholders |
| 863.14M | 788.78M | 872.50M | 768.99M | 602.74M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 59.36M | 69.81M | 95.97M | 98.56M | 94.25M | Total Assets |
| 3.24B | 3.36B | 3.49B | 3.33B | 2.81B | Total Debt |
| 2.01B | 2.08B | 2.01B | 1.68B | 1.33B | Net Debt |
| 1.95B | 2.01B | 1.92B | 1.58B | 1.24B | Total Liabilities |
| 3.37B | 3.51B | 3.47B | 3.16B | 2.53B | Stockholders Equity |
| -126.89M | -149.94M | 24.79M | 171.42M | 282.68M |
| Cash Flow | Free Cash Flow | |||
| 864.45M | 860.55M | 737.83M | 801.25M | 632.21M | Operating Cash Flow |
| 968.35M | 965.87M | 859.07M | 908.83M | 724.70M | Investing Cash Flow |
| -119.46M | -131.69M | -139.40M | -314.11M | -100.36M | Financing Cash Flow |
| -855.98M | -859.59M | -716.04M | -590.55M | -743.91M |
Mettler-Toledo Technical Analysis
Neutral
1100.01
Price Trends
1153.99
Negative
1220.38
Negative
1296.70
Negative
Market Momentum
-21.45
Negative
52.14
Neutral
75.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTD, the sentiment is Neutral. The current price of 1100.01 is above the 20-day moving average (MA) of 1039.49, below the 50-day MA of 1153.99, and below the 200-day MA of 1296.70, indicating a neutral trend. The MACD of -21.45 indicates Negative momentum. The RSI at 52.14 is Neutral, neither overbought nor oversold. The STOCH value of 75.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MTD.
Mettler-Toledo Risk Analysis
Mettler-Toledo disclosed 31 risk factors in its most recent earnings report. Mettler-Toledo reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Mettler-Toledo Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $37.95B | 43.61 | 59.33% | ― | 5.56% | 4.66% | |
72 Outperform | $29.28B | 23.60 | 20.61% | 0.89% | -3.00% | 3.67% | |
70 Outperform | $20.85B | 32.71 | 42.82% | ― | 0.07% | -1.20% | |
69 Neutral | $169.62B | 27.17 | 13.75% | 0.38% | 0.96% | 9.19% | |
67 Neutral | $142.45B | 38.59 | 7.22% | 0.57% | -9.19% | -12.75% | |
66 Neutral | $22.93B | 27.15 | -680.23% | ― | 2.22% | 12.78% | |
52 Neutral | $5.35B | 3.96 | -42.60% | 2.86% | 17.58% | 1.27% |
* Healthcare Sector Average
Performance Comparison
MTD
Mettler-Toledo
1,100.01
-150.79
-12.06%
A
Agilent
108.63
-30.94
-22.17%
DHR
Danaher
199.05
-47.18
-19.16%
IDXX
Idexx Laboratories
471.90
-4.97
-1.04%
TMO
Thermo Fisher
423.55
-148.34
-25.94%
WAT
Waters
350.45
30.59
9.56%
Mettler-Toledo Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: 4.11%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Negative
The earnings call highlighted growth in specific segments such as process analytics and product inspection, along with an increase in service sales and strong cash flow. However, significant challenges were noted, including overall sales decline, flat performance in China, and the impact of global tariffs on margins and EPS. The core industrial and food retail segments also faced declines.Q1-2025 Updates
Positive Updates
Positive Growth in Process Analytics
Strong growth in process analytics, driven by favorable biopharma market trends and innovations such as digital sensors with intelligent sensor management.
Product Inspection Business Growth
The product inspection segment showed significant growth, with an 8% increase, due to successful growth initiatives and new product innovations.
Service Sales Increase
Service sales increased by 6% in local currency in the first quarter, highlighting the strength of growth initiatives in this area.
Strong Cash Flow Position
Adjusted free cash flow amounted to $180 million in the quarter, representing a 1% increase on a per share basis.
Negative Updates
Overall Sales Decline
Sales in the quarter were $884 million, representing a decrease of 3% in local currency and a 5% decline on a U.S. dollar reported basis.
Challenges in China Market
Sales in China were flat during the quarter, with a forecast for the full year indicating a slight decline due to economic uncertainty.
Impact of Global Tariffs
Global trade disputes and tariffs are expected to cost approximately $115 million annually, with significant impact on operating margins.
Decline in Adjusted EPS
Adjusted EPS for the quarter was $8.19, an 8% decrease over the prior year.
Core Industrial Sales Decline
Core industrial sales were down 6%, reflecting mixed industry conditions across most end markets.
Food Retail Segment Decline
Food retail sales declined by 12% in the quarter, highlighting challenges in this segment.
Company Guidance
During the call, Mettler-Toledo provided guidance for the second quarter and full year 2025, forecasting local currency sales growth of 0% to 1% for Q2 and 1% to 2% for the entire year. The operating margin is expected to decrease by 170 basis points in Q2 and by 130 basis points for the full year, primarily due to the net impact of tariffs. Adjusted EPS is projected to range from $9.45 to $9.70 for Q2 and $41.25 to $42 for the year, reflecting a 0% to 2% growth, or 4% to 6% excluding shipping delays. The guidance assumes continued U.S. import tariffs and potential new tariffs, with expected mitigation actions to offset costs. Overall, the company anticipates a gross headwind of approximately 7% from higher tariffs, offset by various measures resulting in a net headwind to EPS growth of about 2%.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.