One-glance verdict
Within fair range
$187.88 our estimate vs market $234.45
Wall Street consensus: $278.33 (48.1% higher than our fair-value estimate)
25% above our estimate
Fundamentals snapshot
AMETEK, Inc.
AME · NYQ · Industrials · Specialty Industrial Machinery
Current price
$234.45
52-week range
$179.24 - $261.16
Market cap
$53.75B
Balance sheet
Healthy
23.51x Strong cushion
Net debt $1.82B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 6.3% last year.
- Reward Returns 14.6% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Stock trades 14.3% above its 5-year average P/E.
What this company does
AMETEK, Inc.
AMETEK makes a wide variety of highly specialized electronic instruments and mechanical parts for other companies in industries like aerospace, medical, and energy. Since these components are often critical and have few other suppliers, AMETEK can maintain strong profit margins (the portion of each sales dollar that the company keeps as profit). This business model, spread across many different sectors, helps provide a steady stream of revenue even if one industry slows down.
How the company got here
AMETEK started in 1930 as American Machine and Metals, originally making heavy machinery. Over the years, it shifted its focus from large equipment to smaller, more advanced products like electric motors and precision gauges. A key change happened in the 1960s when it renamed itself AMETEK to reflect this new direction toward technology and instruments. The company grew by acquiring (buying) other companies with specialized technologies, a strategy that continues to be a major part of its growth today. This approach has transformed it into a global maker of highly specific and essential electronic and electromechanical devices for many different industries.
What it actually does
AMETEK makes a huge variety of specialized, high-tech instruments and motors that are essential for other companies' products and processes. Think of them as a supplier of critical, often unseen, components that make things work precisely and reliably. For example, they create the dashboard instruments in heavy trucks, sensors that monitor jet engines, and motors that power commercial kitchen appliances. They also produce highly sensitive analytical equipment used in scientific research and quality control, as well as specialized metal products and electrical connectors for demanding environments like aerospace and medical devices.
Electronic Instruments Group (EIG)
This is AMETEK's largest business segment, bringing in the majority of its revenue. It designs and manufactures advanced analytical, testing, and measurement devices for a wide range of industries. For example, businesses in the oil and gas, pharmaceutical, and aerospace industries pay AMETEK for instruments that monitor processes, ensure quality, and test materials with extreme precision. This segment also makes power quality monitoring devices and dashboard instruments for heavy vehicles.
Electromechanical Group (EMG)
This segment produces a variety of specialized motors, electrical connectors, and thermal management systems (devices that help with cooling). Its customers are companies that need highly engineered components for their own products, such as motors for commercial vacuum cleaners or medical devices. This group also makes specialty metal powders and strips, as well as rugged connectors used in aerospace and defense applications where reliability is critical. While smaller than the EIG segment, it is a significant contributor to the company's overall business.
What management is betting on now
AMETEK's core strategy, which they call their 'Growth Model,' focuses on four key areas. First is Operational Excellence, which means constantly finding ways to run the business more efficiently to lower costs. Second, they continue to prioritize strategic acquisitions (buying other companies) that fit well with their existing technology and open up new niche markets. The third piece is expanding their sales globally and into new markets. Finally, they consistently invest in new product development to create innovative solutions for their customers' complex problems.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$460.89M
FY2024 Q4
$498.29M
FY2025 Q1
$394.48M
FY2025 Q2
$329.82M
FY2025 Q3
$419.95M
FY2025 Q4
$527.27M
FY2026 Q1
$426.05M
FY2026 Q2
$451.68M
Revenue
$2.04B
Net income
$406.90M
Diluted EPS
1.77
Operating cash flow
$483.69M
Free cash flow
$451.68M
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Sources
Revenue
$1.93B
Net income
$399.36M
Diluted EPS
1.74
Operating cash flow
$451.52M
Free cash flow
$426.05M
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Sources
Revenue
$2.00B
Net income
$398.60M
Diluted EPS
1.73
Operating cash flow
$584.26M
Free cash flow
$527.27M
Fetching…
Sources
Revenue
$1.89B
Net income
$371.42M
Diluted EPS
1.60
Operating cash flow
$440.87M
Free cash flow
$419.95M
Fetching…
Sources
Revenue
$1.78B
Net income
$358.37M
Diluted EPS
1.55
Operating cash flow
$359.09M
Free cash flow
$329.82M
Fetching…
Sources
Revenue
$1.73B
Net income
$351.76M
Diluted EPS
1.52
Operating cash flow
$417.55M
Free cash flow
$394.48M
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Sources
Revenue
$1.76B
Net income
$387.26M
Diluted EPS
1.67
Operating cash flow
$550.02M
Free cash flow
$498.29M
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Sources
Revenue
$1.71B
Net income
$340.24M
Diluted EPS
1.47
Operating cash flow
$487.17M
Free cash flow
$460.89M
Fetching…
Sources
Is it cheap or expensive?
Fair value $187.88 vs current price $234.45
Wall Street consensus is the average analyst price target: $278.33 (48.1% higher than our fair-value estimate).
Our most-likely fair value is $187.88 a share — about 19.9% away from today's price of $234.45, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net debt $1.8B. Interest coverage 23.5x.
Net debt
$1.82B
Interest coverage
23.51x
AMETEK, Inc.'s profit covers its interest bill about 23.5 times over. which is stronger than every peer shown here.
Healthy
Worse cushion
Baseline
Better cushion
AME
BASELINE
AMETEK, Inc.
Total debt $2.31B Interest coverage 23.51x This is the baseline the peer rows are being compared against.
Total debt $11.32B Interest coverage 6.88x -71% vs AME Carries about 3.4x less debt cushion than AME.
Total debt $3.60B Interest coverage 5.98x -75% vs AME Carries about 3.9x less debt cushion than AME.
Total debt $3.61B Interest coverage 9.12x -61% vs AME Carries about 2.6x less debt cushion than AME.
Total debt $2.77B Interest coverage 9.12x -61% vs AME Carries about 2.6x less debt cushion than AME.
Total debt $13.80B Interest coverage 9.13x -61% vs AME Carries about 2.6x less debt cushion than AME.
What you should know
The case for and against AME
3 Rewards
1 Risk
Rewards
-
Revenue grew 6.3% last year.
-
Returns 14.6% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 14.3% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
34.13x
Forward P/E
24.46x
P/B
4.77x
P/S
6.84x
EV/EBITDA
22.22x
PEG ratio
2.65x
Profitability
How much profit each dollar creates
Gross margin
36.9%
Operating margin
26.2%
Net margin
20.0%
ROE
14.6%
ROA
8.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.21x
Current ratio
1.21x
Quick ratio
0.65x
Total debt
$2.31B
Total cash
$495.45M
Growth
How the business has been compounding
Revenue TTM
$7.86B
Revenue 5Y CAGR
14.5%
EPS TTM
6.87
EPS 5Y CAGR
8.5%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.96B
Free CF TTM
$1.67B
FCF margin
21.3%
Dividend
Shareholder payout
Yield
0.6%
Payout ratio
19.0%
Last ex-div date
2026-09-15