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1. Company Snapshot

1.a. Company Description

Mettler-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.

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1.b. Last Insights on MTD

Mettler-Toledo International's recent performance was negatively impacted by mixed financial results, particularly in China, and high operating costs. The company's revenue and profit inconsistencies overshadowed minor improvements in gross profit margins. Additionally, the Food Retail business showed softness due to weaker demand. However, the Laboratory business demonstrated strong growth, and the company's dominant positions in laboratory and industrial scales contributed to its high gross margins (60%) and operating margins (30%).

1.c. Company Highlights

2. Mettler-Toledo's Strong Q3 2025 Earnings: A Closer Look

Mettler-Toledo's third-quarter 2025 results demonstrated robust growth, with local currency sales increasing 6% to $1.03 billion and adjusted EPS of $11.15, up 9% from the prior year, surpassing analyst estimates of $10.62. The company's Industrial business grew 9%, while Laboratory sales increased 4%. Gross margin was 59.2%, with adjusted operating profit at $309.9 million and an adjusted operating margin of 30.1%. The strong EPS performance was a highlight, indicating effective operational execution.

Publication Date: Nov -08

📋 Highlights
  • Q3 2025 Performance:: 6% local currency sales growth to $1.03B, 9% adjusted EPS increase to $11.15, with Industrial and Laboratory segments up 9% and 4% respectively.
  • Geographic Expansion:: 10% local currency sales growth in the Americas, 6% in Europe, and 1% in Asia/Rest of the World, reflecting regional momentum.
  • 2026 Guidance:: 4% local currency sales growth and 8-9% adjusted EPS growth, supported by $2.75B share repurchase authorization and 1% revenue contribution from recent acquisitions.
  • Margin Resilience:: 30.1% adjusted operating margin ($309.9M profit) with 60 bps expansion expected in 2026 despite 2.5% price realization decline from Q3 levels.
  • Strategic Shifts:: Strong service growth (8%), bioprocessing demand acceleration, and focus on automation/digitalization driving Industrial and Laboratory segments’ performance.

Segment Performance

The Laboratory segment had a strong quarter, driven by process analytics and bioprocessing growth, with sales increasing 4%. The Industrial segment also saw improved activity, particularly in transportation and logistics, and automation and digitalization solutions, with core industrial up 11%. Product inspection grew 7% in Q3, with a guidance of high single-digit growth in Q4. The company's diversified portfolio and innovative solutions are driving growth across segments.

Geographic Performance and Outlook

Geographically, local currency sales increased 10% in the Americas, 6% in Europe, and 1% in Asia/Rest of the World. For 2026, Mettler-Toledo forecasts local currency sales growth of approximately 4% and adjusted EPS growth of 8-9%. The Americas are expected to grow at mid-single digits, while Europe and China are expected to grow at low single digits. The company's global presence and diversified revenue streams are expected to drive growth.

Valuation and Return Metrics

With a P/E Ratio of 35.63 and ROE of 113.17%, the company's valuation reflects its strong growth prospects and operational efficiency. The EV/EBITDA ratio of 28.03 indicates a premium valuation, but the company's ROIC of 38.12% justifies this premium. The dividend yield is 0%, but the Free Cash Flow Yield is 3%, indicating a stable cash generation profile.

Guidance and Challenges

The company is cautious about Q4, citing potential budget flush and government shutdown uncertainties. However, they feel good about their execution and positioning going into next year. Tariff headwinds are expected to abate, but currency fluctuations will have an impact on operating margin. The company expects operating margin expansion of around 60 basis points on a currency-neutral basis.

3. NewsRoom

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Mettler-Toledo International Inc. (MTD) Presents at Citi Annual Global Healthcare Conference 2025 Transcript

Dec -03

Source: seekingalpha.com

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Mettler-Toledo International Inc. (MTD) Presents at Evercore 8th Annual Healthcare Conference Transcript

Dec -02

Source: seekingalpha.com

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Cetera Investment Advisers Grows Stock Position in Mettler-Toledo International, Inc. $MTD

Dec -02

Source: defenseworld.net

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Jim Cramer: This Tech Stock Is 'Losing Too Much Money,' Recommends Buying Mettler-Toledo

Nov -24

Source: benzinga.com

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Mettler-Toledo International Inc. to Present at Upcoming Investor Conferences

Nov -18

Source: businesswire.com

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Acadian Asset Management LLC Boosts Holdings in Mettler-Toledo International, Inc. $MTD

Nov -15

Source: defenseworld.net

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Mettler-Toledo (MTD) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Nov -08

Source: zacks.com

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Mettler-Toledo Q3 Earnings Top Estimates, Sales Decline Y/Y

Nov -07

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.85%)

6. Segments

U.S. Operations

Expected Growth: 4.5%

Mettler-Toledo’s U.S. Operations drives growth through increasing demand for precision instruments and compliance solutions in the food, pharma, and chemical industries, as well as its services ensuring efficiency and compliance.

Western European Operations

Expected Growth: 4.5%

Increasing demand for laboratory and industrial precision instruments, driven by rising quality control standards and growing life sciences research in Western Europe, fuels growth for Mettler-Toledo’s Western European operations.

Swiss Operations

Expected Growth: 6.4%

Growing demand for precision instruments in pharmaceutical, food, and other industries drives Mettler-Toledo's Swiss Operations segment growth, ensuring quality control and compliance.

Chinese Operations

Expected Growth: 10.5%

Growing demand for precision weighing and inspection in various industries, such as pharmaceuticals, food, and chemicals, drives Mettler-Toledo’s Chinese Operations segment. Increasing adoption of automated quality control systems and rising focus on product safety and quality also contribute to the segment’s growth.

Other

Expected Growth: 4.5%

Mettler-Toledo’s product inspection, packaging, and industrial solutions will drive expansion, fueled by increasing demand for quality control and automation in various industries.

Eliminations and Corporate

Expected Growth: 3.5%

Mettler-Toledo's corporate segment benefits from its diversified industrial portfolio, driving profitability through efficient cost management and strategic investments in emerging markets.

7. Detailed Products

Laboratory Weighing Solutions

Mettler-Toledo's laboratory weighing solutions provide accurate and reliable weighing results for various laboratory applications, including pharmaceutical, biotechnology, and academic research.

Industrial Weighing Solutions

Mettler-Toledo's industrial weighing solutions offer high-precision weighing systems for various industrial applications, including manufacturing, logistics, and quality control.

Retail Weighing Solutions

Mettler-Toledo's retail weighing solutions provide accurate and efficient weighing systems for retail applications, including supermarkets, grocery stores, and convenience stores.

Product Inspection Solutions

Mettler-Toledo's product inspection solutions offer advanced inspection systems for detecting contaminants, verifying product integrity, and ensuring compliance with regulations.

Process Analytics Solutions

Mettler-Toledo's process analytics solutions provide real-time monitoring and control of chemical and pharmaceutical processes, ensuring optimal process conditions and product quality.

Automated Reactors and In-Situ Analysis

Mettler-Toledo's automated reactors and in-situ analysis solutions enable efficient and accurate process development, optimization, and scale-up.

8. Mettler-Toledo International Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Mettler-Toledo International Inc. operates in a niche market with high barriers to entry, reducing the threat of substitutes. However, the company's products are not entirely unique, and some customers may find alternative solutions.

Bargaining Power Of Customers

Mettler-Toledo International Inc.'s customers are largely dependent on the company's products, giving them limited bargaining power. The company's strong brand reputation and high-quality products also reduce customer bargaining power.

Bargaining Power Of Suppliers

Mettler-Toledo International Inc. has a diversified supplier base, reducing the bargaining power of individual suppliers. The company's strong financial position also gives it negotiating power in supplier relationships.

Threat Of New Entrants

The precision instrument industry has high barriers to entry, including significant capital requirements and the need for specialized expertise. This reduces the threat of new entrants.

Intensity Of Rivalry

The precision instrument industry is moderately competitive, with several established players. However, Mettler-Toledo International Inc.'s strong brand reputation and diversified product portfolio help it maintain a competitive edge.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 107.77%
Debt Cost 4.59%
Equity Weight -7.77%
Equity Cost 9.73%
WACC 4.19%
Leverage -1387.80%

11. Quality Control: Mettler-Toledo International Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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IDEXX Laboratories

A-Score: 4.6/10

Value: 0.0

Growth: 7.2

Quality: 7.6

Yield: 0.0

Momentum: 7.5

Volatility: 5.3

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Agilent Technologies

A-Score: 4.5/10

Value: 1.2

Growth: 5.8

Quality: 7.4

Yield: 1.0

Momentum: 4.0

Volatility: 7.3

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Mettler-Toledo

A-Score: 4.4/10

Value: 3.0

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 3.5

Volatility: 6.7

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IQVIA

A-Score: 4.1/10

Value: 3.5

Growth: 6.9

Quality: 5.4

Yield: 0.0

Momentum: 3.0

Volatility: 6.0

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Thermo Fisher

A-Score: 4.0/10

Value: 1.6

Growth: 6.1

Quality: 6.1

Yield: 0.0

Momentum: 3.0

Volatility: 7.3

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Danaher

A-Score: 3.8/10

Value: 1.6

Growth: 4.0

Quality: 6.8

Yield: 1.0

Momentum: 1.5

Volatility: 7.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1414.86$

Current Price

1414.86$

Potential

-0.00%

Expected Cash-Flows