AMETEK Announces Record Fourth Quarter and Full Year Results
Rhea-AI Summary
AMETEK (NYSE: AME) reported record fourth-quarter and full‑year 2025 results on Feb 3, 2026. Q4 sales were $2.0 billion, +13% YoY, GAAP EPS was $1.73 and adjusted EPS was a record $2.01. Q4 adjusted operating income was $523.0 million.
For full year 2025, sales were $7.4 billion (+7% YoY), GAAP EPS $6.40, adjusted EPS $7.43 (+9% YoY). Free cash flow and several operating metrics set annual records. 2026 guidance: sales up mid‑to‑high single digits; adjusted EPS $7.87–$8.07.
Positive
- Q4 sales of $2.0 billion, up 13% year‑over‑year
- Q4 adjusted EPS of $2.01, a record and +7% versus prior year
- Full‑year sales of $7.4 billion, up 7% versus 2024
- Record Q4 free cash flow of $527.3 million and cash conversion at 132%
- Full‑year adjusted EPS of $7.43, up 9% year‑over‑year
- Management provided 2026 guidance targeting mid‑to‑high single‑digit sales growth and $7.87–$8.07 adjusted EPS
Negative
- Full‑year acquisition‑related pre‑tax costs of $37.3 million (Q4 acquisition costs $17.6 million)
- Full‑year non‑cash acquisition amortization of $0.91 per share reduces GAAP comparability
Key Figures
Market Reality Check
Peers on Argus
AME gained 1.67% with strong earnings while peers like IR (+3.31%), ROK (+2.18%), XYL (+1.45%), ITW (+1.12%) and OTIS (+0.85%) also advanced. However, the momentum scanner did not flag a coordinated sector move, suggesting today’s action is more stock-specific around AME’s results.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 15 | Earnings call notice | Neutral | +1.9% | Announcement of timing and access details for Q4 2025 earnings call. |
| Dec 18 | Product launch | Positive | +1.0% | Launch of SkyBitz SmartTank ST705 radar monitor for industrial tank monitoring. |
| Nov 11 | Sustainability report | Positive | -0.2% | Release of 2025 sustainability report with emission reduction progress and targets. |
| Nov 07 | Dividend declaration | Positive | -0.5% | Declaration of a regular quarterly dividend of $0.31 per share. |
| Nov 07 | Leadership changes | Neutral | -0.5% | Finance leadership succession with retirements and new senior appointments. |
Recent news often prompted modest moves, with product and event updates generally seeing small gains while sustainability, dividend, and leadership items saw slight selling, indicating occasional divergence on otherwise constructive news.
Over the past few months, AMETEK has highlighted steady corporate progress. An earnings call announcement on Jan 15, 2026 preceded a +1.85% move, while product innovation like the SkyBitz ST705 launch on Dec 18, 2025 coincided with a +1.03% gain. Sustainability disclosures on Nov 11, 2025 and a quarterly dividend and leadership changes on Nov 7, 2025 saw small negative reactions. Against this backdrop, today’s record Q4 2025 and full-year results extend a narrative of consistent growth and operational execution.
Market Pulse Summary
This announcement details record performance, with Q4 2025 sales of $2.0 billion, full‑year sales of $7.4 billion, and adjusted EPS of $7.43, plus 2026 EPS guidance of $7.87–$8.07. The stock traded above its 200‑day MA and close to its 52‑week high into the release, suggesting expectations were already elevated. Recent history shows modest price moves around product launches, sustainability updates, and dividends. Investors tracking this story may focus on execution versus the mid to high single‑digit sales growth outlook and ongoing capital deployment into acquisitions.
Key Terms
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AI-generated analysis. Not financial advice.
AMETEK's fourth quarter 2025 sales were a record
GAAP operating income was a record
"AMETEK's fourth quarter and full year results were outstanding," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Contributions from strong organic sales growth, recent acquisitions, and tremendous operating performance, led to excellent core margin expansion and impressive cash flow conversion. These record results reflect the proven strength and durability of our operating model and the outstanding contributions from our colleagues."
For the full year, sales were
Full year GAAP operating income was
A reconciliation of reported GAAP results to adjusted results is included in the financial tables accompanying this release and on the AMETEK website.
Electronic Instruments Group (EIG)
EIG sales in the fourth quarter were a record
"EIG delivered excellent results in the fourth quarter," commented Mr. Zapico. "The double-digit sales growth was driven by positive organic sales growth and contributions from recent acquisitions. EIG delivered strong operating performance in the quarter resulting in record operating income and 50 basis points of core margin expansion."
Electromechanical Group (EMG)
EMG sales in the fourth quarter were
"EMG performed exceptionally well in the fourth quarter to complete an outstanding year. Sales growth was broad based with double digit organic sales growth in each EMG division resulting in robust profit growth and sizeable margin expansion," noted Mr. Zapico.
2026 Outlook
"Our businesses delivered excellent results in 2025. This success highlights the strength of the AMETEK Growth Model, the quality of our niche, differentiated businesses, and the attractiveness of our markets. We enter 2026 with a record backlog, improving end market dynamics, and significant financial flexibility to support both our organic growth initiatives and to deploy capital on strategic acquisitions, driving continued long-term value creation."
"For 2026, we expect overall sales to be up mid to high single digits compared to 2025. Adjusted earnings per diluted share are expected to be in the range of
"For the first quarter of 2026, overall sales are expected to be up approximately
Conference Call
AMETEK will webcast its fourth quarter 2025 investor conference call on Tuesday, February 3, 2026, beginning at 8:30 AM ET. The live audio webcast will be available and later archived in the Investors section of www.ametek.com.
About AMETEK
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales of approximately
Forward-looking Information
Statements in this news release relating to future events, such as AMETEK's expected business and financial performance, are "forward-looking statements." Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ materially from expectations. These factors and uncertainties include risks related to AMETEK's ability to consummate and successfully integrate future acquisitions; risks with international sales and operations, including supply chain disruptions, tariffs, trade disputes and currency conditions; AMETEK's ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the
Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247
AMETEK, Inc. Consolidated Statement of Income (In thousands, except per share amounts) (Unaudited)
| |||||||
Three Months Ended | Twelve Months Ended | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Net sales | $ 1,998,448 | $ 1,761,602 | $ 7,401,116 | $ 6,941,180 | |||
Cost of sales | 1,278,034 | 1,116,853 | 4,733,677 | 4,464,713 | |||
Selling, general and administrative | 214,932 | 175,768 | 757,122 | 696,905 | |||
Total operating expenses | 1,492,966 | 1,292,621 | 5,490,799 | 5,161,618 | |||
Operating income | 505,482 | 468,981 | 1,910,317 | 1,779,562 | |||
Interest expense | (22,890) | (22,000) | (81,254) | (112,962) | |||
Other (expense) income, net | (8,609) | (2,626) | (30,724) | (5,061) | |||
Income before income taxes | 473,983 | 444,355 | 1,798,339 | 1,661,539 | |||
Provision for income taxes | 75,382 | 57,098 | 318,197 | 285,415 | |||
Net income | $ 398,601 | $ 387,257 | $ 1,480,142 | $ 1,376,124 | |||
Diluted earnings per share | $ 1.73 | $ 1.67 | $ 6.40 | $ 5.93 | |||
Basic earnings per share | $ 1.74 | $ 1.68 | $ 6.42 | $ 5.95 | |||
Weighted average common shares outstanding: | |||||||
Diluted shares | 230,351 | 232,107 | 231,259 | 232,168 | |||
Basic shares | 229,590 | 231,149 | 230,452 | 231,256 | |||
Dividends per share | $ 0.31 | $ 0.28 | $ 1.24 | $ 1.12 | |||
AMETEK, Inc. Information by Business Segment (In thousands) (Unaudited)
| |||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Net sales: | |||||||
Electronic Instruments | $ 1,369,524 | $ 1,214,935 | $ 4,919,100 | $ 4,659,915 | |||
Electromechanical | 628,924 | 546,667 | 2,482,016 | 2,281,265 | |||
Consolidated net sales | $ 1,998,448 | $ 1,761,602 | $ 7,401,116 | $ 6,941,180 | |||
Operating income: | |||||||
Segment operating income: | |||||||
Electronic Instruments | $ 396,142 | $ 386,649 | $ 1,447,057 | $ 1,428,409 | |||
Electromechanical | 142,457 | 111,189 | 578,938 | 456,501 | |||
Total segment operating income | 538,599 | 497,838 | 2,025,995 | 1,884,910 | |||
Corporate administrative expenses | (33,117) | (28,857) | (115,678) | (105,348) | |||
Consolidated operating income | $ 505,482 | $ 468,981 | $ 1,910,317 | $ 1,779,562 | |||
AMETEK, Inc. Condensed Consolidated Balance Sheet (In thousands)
| |||
December 31, | December 31, | ||
2025 | 2024 | ||
(Unaudited) | |||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 457,951 | $ 373,999 | |
Receivables, net | 1,119,257 | 948,830 | |
Inventories, net | 1,106,405 | 1,021,713 | |
Other current assets | 336,229 | 258,490 | |
Total current assets | 3,019,842 | 2,603,032 | |
Property, plant and equipment, net | 855,215 | 818,611 | |
Right of use assets, net | 273,142 | 235,666 | |
Goodwill | 7,170,770 | 6,555,877 | |
Other intangibles, investments and other assets | 4,748,574 | 4,417,983 | |
Total assets | $ 16,067,543 | $ 14,631,169 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Short-term borrowings and current portion of long-term debt, net | $ 1,208,975 | $ 654,346 | |
Accounts payable and accruals | 1,633,777 | 1,444,241 | |
Total current liabilities | 2,842,752 | 2,098,587 | |
Long-term debt, net | 1,074,334 | 1,425,375 | |
Deferred income taxes and other long-term liabilities | 1,521,671 | 1,451,903 | |
Stockholders' equity | 10,628,786 | 9,655,304 | |
Total liabilities and stockholders' equity | $ 16,067,543 | $ 14,631,169 | |
AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (In thousands, except per share amounts) (Unaudited)
| |||||
Three Months Ended December 31, | |||||
2025 | 2024 | Change | |||
EIG Segment operating income (GAAP) | $ 396,142 | $ 386,649 | |||
Acquisition-related costs(1) | 17,551 | — | |||
Adjusted EIG Segment operating income (Non-GAAP) | $ 413,693 | $ 386,649 | |||
EIG Segment operating margin (GAAP) | 28.9 % | 31.8 % | |||
Acquisition-related costs(1) | 1.3 % | — % | |||
Dilutive impact of acquisitions and foreign exchange(2) | 2.1 % | — % | |||
Adjusted EIG Segment operating margin (Non-GAAP) | 32.3 % | 31.8 % | 0.5 % | ||
Operating income (GAAP) | $ 505,482 | $ 468,981 | |||
Acquisition-related costs(1) | 17,551 | — | |||
Adjusted Operating income (Non-GAAP) | $ 523,033 | $ 468,981 | |||
Diluted earnings per share (GAAP) | $ 1.73 | $ 1.67 | |||
Acquisition-related costs(1) | 0.08 | — | |||
Income tax benefit on acquisition-related costs(1) | (0.02) | — | |||
Pretax amortization of acquisition-related intangible assets | 0.29 | 0.27 | |||
Income tax benefit on amortization of acquisition-related intangible assets | (0.07) | (0.07) | |||
Adjusted Diluted earnings per share (Non-GAAP) | $ 2.01 | $ 1.87 | |||
Cash provided by operating activities (GAAP) | $ 584,263 | $ 550,017 | |||
Deduct: Capital expenditures | (56,997) | (51,725) | |||
Free cash flow (Non-GAAP) | $ 527,266 | $ 498,292 | |||
Free cash flow conversion (Non-GAAP) | 132 % | 129 % | |||
______________________ | |
(1) - | Acquisition-related costs are comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other (Expense) Income, net. |
(2) - | Operating income margins adjusted for dilutive impact from acquisitions completed in the last twelve months and the foreign exchange impact. |
AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (In thousands, except per share amounts) (Unaudited)
| |||
Twelve Months Ended December 31, | |||
2025 | 2024 | ||
Operating income (GAAP) | $ 1,910,317 | $ 1,779,562 | |
Acquisition-related costs(1) | 25,301 | 29,231 | |
Adjusted Operating income (Non-GAAP) | $ 1,935,618 | $ 1,808,793 | |
Operating income margin (GAAP) | 25.8 % | 25.6 % | |
Acquisition-related costs(1) | 0.4 % | 0.5 % | |
Adjusted Operating income margin (Non-GAAP) | 26.2 % | 26.1 % | |
Other (expense) income, net | $ (30,724) | $ (5,061) | |
Acquisition-related costs(1) | 11,992 | — | |
Adjusted Other (expense) income, net | $ (18,732) | $ (5,061) | |
Diluted earnings per share (GAAP) | $ 6.40 | $ 5.93 | |
Acquisition-related costs(1) | 0.16 | 0.13 | |
Income tax benefit on acquisition-related costs(1) | (0.04) | (0.03) | |
Pretax amortization of acquisition-related intangible assets | 1.20 | 1.07 | |
Income tax benefit on amortization of acquisition-related intangible assets | (0.29) | (0.26) | |
Rounding | — | (0.01) | |
Adjusted Diluted earnings per share (Non-GAAP) | $ 7.43 | $ 6.83 | |
______________________ | |
(1) - | Acquisition-related costs are comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other (Expense) Income, net. |
AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (Unaudited)
| |||||||
Forecasted Diluted Earnings Per Share | |||||||
Three Months Ended | Year Ended | ||||||
March 31, 2026 | December 31, 2026 | ||||||
Low | High | Low | High | ||||
Diluted earnings per share (GAAP) | $ 1.62 | $ 1.67 | $ 6.96 | $ 7.16 | |||
Pretax amortization of acquisition-related intangible assets(1) | 0.30 | 0.30 | 1.20 | 1.20 | |||
Income tax benefit on amortization of acquisition-related intangible assets | (0.07) | (0.07) | (0.29) | (0.29) | |||
Adjusted Diluted earnings per share (Non-GAAP) | $ 1.85 | $ 1.90 | $ 7.87 | $ 8.07 | |||
______________________ | |
(1) - | Acquisition-related costs are comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other (Expense) Income, net. |
Use of Non-GAAP Financial Information
The Company supplements its consolidated financial statements presented on a U.S. generally accepted accounting principles ("GAAP") basis with certain non-GAAP financial information to provide investors with greater insight, increased transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial tables. These non-GAAP financial measures should be considered in addition to, and not as a replacement for, or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.
The non-GAAP financial measures referenced in this press release include adjusted operating income, adjusted operating margin, and adjusted earnings per share. These measures are adjusted to exclude items that management does not consider indicative of AMETEK's ongoing operational performance, such as after-tax acquisition-related intangible amortization and one-time acquisition-related costs (including transaction related costs, purchase accounting adjustments, and integration related costs).
In providing forward-looking guidance for quarterly and full-year GAAP and non-GAAP measures, the Company has not included adjustments, such as acquisition-related costs, whose timing and/or magnitude are contingent on future events.
The Company believes that these measures provide useful information to investors by reflecting additional ways of viewing AMETEK's operations that, when reconciled to the comparable GAAP measure, helps our investors to better understand the long-term profitability trends of our business, and facilitates easier comparisons of our profitability to prior and future periods and to our peers.
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SOURCE AMETEK, Inc.
FAQ
What were AMETEK (AME) fourth‑quarter 2025 revenue and earnings per share?
How did AMETEK perform for the full year 2025 and what were the key metrics?
What free cash flow did AMETEK generate in Q4 2025 and how efficient was conversion?
What guidance did AMETEK provide for 2026 including sales and adjusted EPS (AME)?
How did AMETEK's business segments perform in Q4 2025, specifically EIG and EMG?
