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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 Q4 2025 Earnings: A Strong Close to the Year

Mettler-Toledo reported a robust fourth quarter 2025, with sales reaching $1.1 billion, representing a 5% increase in local currency, or 4% excluding acquisitions. The company's adjusted EPS was $13.36, beating analyst estimates of $12.76, and marking an 8% increase over the prior year. For the full year 2025, local currency sales increased 3%, with adjusted operating profit declining 1% and adjusted EPS increasing 4%. The company's financial performance was driven by its growth strategy, including its Spinnaker sales and marketing program, innovative product portfolio, and opportunities related to automation, digitalization, and onshoring investments.

Publication Date: Feb -08

📋 Highlights
  • Q4 2025 Performance:: Sales of $1.1 billion (+5% local currency), adjusted EPS of $13.36 (+8% YoY).
  • Full-Year 2025 Results:: 3% local currency sales growth, adjusted EPS increased 4%, adjusted operating profit declined 1%.
  • 2026 Guidance:: EPS range of $46.05–$46.70 (+8–9% growth), local currency sales growth of ~4%, operating margin up 60–70 bps.
  • Service Milestone:: Achieved $1 billion in sales, driven by expansion in Lab and Industrial segments with $3 billion serviceable iBase.
  • Gross Margin Pressure:: 70 bps headwind in Q4 2025 due to currency, tariffs, and acquisitions, expected to persist in H1 2026.

Segment Performance

The company's Laboratory business had modest growth, with robust bioprocessing growth offset by softer demand from biotech, academia, and the chemical sector. The Industrial business also had modest growth, with strong growth in China, while Product Inspection had strong sales growth. Food Retail sales grew strongly against easy year-ago comparisons. The company's growth strategy is expected to continue driving performance, with the Laboratory business expected to grow low to mid-single digits and Industrial low to mid-single digits in 2026.

Guidance and Outlook

Mettler-Toledo provided guidance for 2026, expecting local currency sales growth of approximately 4%, operating margin up 60 to 70 basis points, and adjusted EPS in the range of $46.05 to $46.70, representing an 8% to 9% growth rate. For the first quarter of 2026, local currency sales are expected to grow approximately 3%, with operating margin decreasing about 100 basis points, and adjusted EPS in the range of $8.60 to $8.75, a 5% to 7% growth rate. The company expects a cautious Q1 but gradual improvement throughout the year.

Valuation

With a P/E Ratio of 32.21 and an EV/EBITDA of 24.25, the company's valuation multiples suggest that the market is pricing in a certain level of growth. The company's ROIC of 36.59% indicates a strong return on invested capital. However, the ROE of -487.21% is a concern, although this is likely due to a one-time item or accounting treatment. The Net Debt / EBITDA ratio of 1.68 is manageable. Analysts estimate next year's revenue growth at 4.9%, which is slightly higher than the company's guidance.

Key Drivers

The company's growth is driven by its innovative product portfolio, automation, and digitalization trends, as well as onshoring investments. The bioprocessing business had a strong Q4, especially in the Americas, with single-use and consumables doing well. The Service business is expected to grow mid- to high single digits in 2026, driven by a $1 billion sales milestone and a $3 billion serviceable iBase opportunity.

3. NewsRoom

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Mettler-Toledo International, Inc. $MTD Shares Sold by Candriam S.C.A.

Feb -10

Source: defenseworld.net

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Mettler-Toledo (MTD) Reports Q4 Earnings: What Key Metrics Have to Say

Feb -07

Source: zacks.com

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Mettler-Toledo International Inc (MTD) Q4 2025 Earnings Call Highlights: Strong EPS Growth Amid Market Challenges

Feb -06

Source: gurufocus.com

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Mettler-Toledo Q4 Earnings Top Estimates, Sales Rise Y/Y

Feb -06

Source: zacks.com

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Mettler-Toledo International Inc. (MTD) Q4 2025 Earnings Call Transcript

Feb -06

Source: seekingalpha.com

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Mettler-Toledo (MTD) Q4 Earnings and Revenues Beat Estimates

Feb -05

Source: zacks.com

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Mettler-Toledo International Inc. Reports Fourth Quarter 2025 Results

Feb -05

Source: businesswire.com

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Thrivent Financial for Lutherans Buys 64,951 Shares of Mettler-Toledo International, Inc. $MTD

Feb -02

Source: defenseworld.net

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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Agilent Technologies

A-Score: 5.2/10

Value: 2.0

Growth: 6.1

Quality: 7.8

Yield: 1.0

Momentum: 7.0

Volatility: 7.3

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Mettler-Toledo

A-Score: 5.2/10

Value: 3.0

Growth: 6.3

Quality: 7.1

Yield: 0.0

Momentum: 7.5

Volatility: 7.3

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IDEXX Laboratories

A-Score: 5.1/10

Value: 0.0

Growth: 7.2

Quality: 8.6

Yield: 0.0

Momentum: 9.5

Volatility: 5.0

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IQVIA

A-Score: 4.8/10

Value: 3.5

Growth: 6.9

Quality: 5.5

Yield: 0.0

Momentum: 7.0

Volatility: 6.0

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Thermo Fisher

A-Score: 4.8/10

Value: 1.7

Growth: 6.1

Quality: 6.2

Yield: 0.0

Momentum: 7.0

Volatility: 7.7

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Danaher

A-Score: 4.3/10

Value: 1.7

Growth: 3.9

Quality: 6.8

Yield: 1.0

Momentum: 5.0

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

1400.33$

Current Price

1400.33$

Potential

-0.00%

Expected Cash-Flows