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AME · AMETEK INC/

25 filings

10-K

AME 10-K Annual Reports

AMETEK INC/ - 25 annual reports

Filing record · 2016–202610-K1110-Q328-K107

2025
AMETEK INC/ Annual Report, Year Ended Dec 31, 2025
AMETEK, Inc. reported a strong fiscal year 2025, achieving record sales, operating income, net income, and diluted earnings per share. The company's growth was driven by organic sales increases, contributions from strategic acquisitions, and the ongoing success of its "AMETEK Growth Model" which emphasizes Operational Excellence, Strategic Acquisitions, Global & Market Expansion, and New Product Development. Financially, AMETEK demonstrated robust performance with net sales reaching $7.4 billion and diluted EPS of $6.40. The company also generated significant operating cash flow of $1.8 billion, enabling substantial investments in acquisitions, share repurchases, and dividends. AMETEK continues to focus on its "Growth Model" to achieve high single-digit annual percentage growth in sales and double-digit annual percentage growth in earnings per share over the business cycle, positioning itself for continued long-term value creation for shareholders.
Feb 17, 2026
2024
AMETEK INC/ Annual Report, Year Ended Dec 31, 2024
AMETEK, Inc. (AME) reported a record year in 2024, demonstrating robust performance across key financial metrics. The company achieved record sales of $6.94 billion, an increase of 5.2% year-over-year, and record diluted earnings per share of $5.93, up 4.5%. This strong financial outcome was driven by contributions from strategic acquisitions and the continuous implementation of their "Operational Excellence" initiatives. The company's "AMETEK Growth Model," which integrates operational efficiency, strategic acquisitions, global market expansion, and new product development, appears to be effectively driving profitability and shareholder value. AMETEK's diversified business, spanning Electronic Instruments (EIG) and Electromechanical (EMG) groups, caters to essential and growing end markets such as aerospace, defense, medical, and automation. The company continues to prioritize strategic acquisitions, with 14 acquisitions completed since 2020 totaling approximately $1.4 billion in annualized sales, and further bolstered its balance sheet by paying off a $300 million senior note. Looking ahead, AMETEK has demonstrated its commitment to shareholder returns through consistent dividend increases and substantial share repurchase programs, further supported by recent expansions in its commercial paper program and a new, significant share repurchase authorization.
Feb 20, 2025
2023
AMETEK INC/ Annual Report, Year Ended Dec 31, 2023
AMETEK, Inc. reported a record year in 2023, demonstrating robust financial performance with increased sales, operating income, net income, and diluted earnings per share. The company's growth was driven by a combination of organic sales increases and successful contributions from recent acquisitions, supported by its "AMETEK Growth Model" which emphasizes Operational Excellence, Strategic Acquisitions, Global & Market Expansion, and New Product Development. The company continues to execute its strategy of targeted acquisitions, notably adding four new businesses in 2023 across its Electronic Instruments (EIG) and Electromechanical (EMG) groups. AMETEK's diversified end markets, including aerospace and defense, medical, and industrial sectors, provide resilience. The company also highlighted strong operating cash flow generation and a commitment to returning capital to shareholders through dividends and share repurchases.
Feb 22, 2024
2022
AMETEK INC/ Annual Report, Year Ended Dec 31, 2022
AMETEK, Inc. delivered a record-breaking performance in 2022, marked by significant increases in sales, operating income, net income, and diluted earnings per share. This strong financial outcome was driven by robust organic sales growth across both its Electronic Instruments (EIG) and Electromechanical (EMG) groups, complemented by strategic acquisitions and the company's ongoing Operational Excellence initiatives. The company successfully navigated a challenging macroeconomic environment characterized by inflation, supply chain constraints, and rising interest rates, demonstrating resilience and effective cost management. The company's growth strategy, centered on Operational Excellence, Strategic Acquisitions, Global & Market Expansion, and New Product Development, continues to yield positive results. AMETEK remains focused on cash generation and capital deployment, prioritizing value-enhancing acquisitions while also returning capital to shareholders through dividends and share repurchases. The record backlog at year-end indicates continued demand and provides a solid foundation for future performance.
Feb 21, 2023
2021
AMETEK INC/ Annual Report, Year Ended Dec 31, 2021
AMETEK, Inc. (AME) reported a strong financial performance for the fiscal year ending December 31, 2021, marked by record sales, operating income, operating margins, net income, and diluted earnings per share. This growth was driven by a significant organic sales increase across both its Electronic Instruments (EIG) and Electromechanical (EMG) groups, complemented by contributions from six strategic acquisitions completed during the year. The company successfully navigated challenges such as material cost inflation and supply chain disruptions, demonstrating resilience and effective operational execution. AMETEK's strategic growth model, focused on Operational Excellence, Strategic Acquisitions, Global and Market Expansion, and New Product Development, continues to be a key driver of its success. The company's robust backlog at year-end indicates strong future demand. Furthermore, AMETEK's commitment to cash generation and capital deployment remains a cornerstone, with a primary focus on value-enhancing acquisitions. The company also continued its practice of returning capital to shareholders through a modest, yet consistently growing, quarterly dividend and share repurchases, signaling confidence in its financial health and future prospects.
Feb 22, 2022
2020
AMETEK INC/ Annual Report, Year Ended Dec 31, 2020
AMETEK, Inc. (AME) reported its fiscal year 2020 results, showcasing resilience amidst the COVID-19 pandemic. The company experienced a decrease in net sales by 12.0% to $4.54 billion, primarily due to a 13% organic sales decline driven by pandemic-related economic weakness. Despite this, AMETEK achieved record EBITDA of $1.42 billion and record free cash flow of $1.21 billion, demonstrating strong operational execution and working capital management. The company successfully navigated the challenging environment through its "Operational Excellence" initiatives and strategic acquisitions, including IntelliPower and the completion of acquisition accounting for Gatan. AMETEK also divested its Reading Alloys business, contributing to a significant pre-tax gain. The company's diversified business model across Electronic Instruments (EIG) and Electromechanical (EMG) groups, serving various end markets like aerospace, defense, medical, and industrial automation, provided stability.
Feb 18, 2021
2019
AMETEK INC/ Annual Report, Year Ended Dec 31, 2019
AMETEK, Inc. reported a record year in 2019, with significant growth across key financial metrics including sales, operating income, and diluted earnings per share. The company's success was driven by a combination of organic growth within its Electronic Instruments Group (EIG) and Electromechanical Group (EMG), contributions from strategic acquisitions completed in 2018 and 2019, and the ongoing implementation of its Operational Excellence initiatives. AMETEK continues to execute its 'AMETEK Growth Model,' which prioritizes operational excellence, strategic acquisitions, global and market expansion, and new product development. The company successfully integrated several acquisitions, contributing to its revenue growth and expanding its technological capabilities. Strong cash flow generation remains a priority, supporting its acquisition strategy and a commitment to returning value to shareholders through dividends and share repurchases. Looking ahead, AMETEK is well-positioned to continue its growth trajectory, driven by its diversified business segments and ongoing focus on innovation and operational efficiency.
Feb 20, 2020
2018
AMETEK INC/ Annual Report, Year Ended Dec 31, 2018
AMETEK, Inc. (AME) demonstrated strong financial performance in 2018, achieving record backlog, orders, sales, operating income, net income, and diluted earnings per share. The company's growth was driven by a combination of 7% organic sales growth, strategic acquisitions, and successful implementation of its Operational Excellence initiatives. The company expanded its operations through six strategic acquisitions in 2018, investing over $1.1 billion. These acquisitions are expected to enhance AMETEK's market position and product offerings. Financially, AMETEK reported sales of $4.85 billion and diluted EPS of $3.34, representing increases of 13% and 13.6% respectively, over 2017. The company also strengthened its financial flexibility by amending its credit agreement to a $1.5 billion revolving credit facility and completing a $575 million private placement. AMETEK's strategy focuses on four key pillars: Operational Excellence, Strategic Acquisitions, Global & Market Expansion, and New Products. This approach, coupled with a diversified product portfolio across its Electronic Instruments (EIG) and Electromechanical (EMG) groups, positions the company well for continued growth. Investors can look to AMETEK's consistent investment in R&D and its track record of integrating acquisitions as positive indicators for future performance.
Feb 21, 2019
2017
AMETEK INC/ Annual Report, Year Ended Dec 31, 2017
AMETEK, Inc. reported a strong performance for the fiscal year ending December 30, 2017, setting records for orders, sales, operating income, net income, and diluted earnings per share. This robust growth was driven by a strengthening global economic environment, successful integration of recent acquisitions, and continued focus on their 'Operational Excellence' strategy. The company expanded its product portfolio through three strategic acquisitions in 2017: Rauland-Borg Corporation (communications solutions), MOCON, Inc. (gas analysis instrumentation), and Arizona Instrument LLC (moisture and gas measurement instruments), all of which are expected to contribute positively to future results. The company's balanced approach to growth, emphasizing both organic expansion and strategic acquisitions, along with its diversified end markets and global presence, positions it well for continued success. Investors should note the positive impact of the U.S. Tax Cuts and Jobs Act, which provided a significant net benefit to earnings in 2017. AMETEK continues to focus on innovation and operational efficiency to drive shareholder value.
Feb 22, 2018
2016
AMETEK INC/ Annual Report, Year Ended Dec 31, 2016
AMETEK, Inc. reported a decrease in net sales for 2016 to $3.84 billion, down 3.4% from the prior year, primarily due to a weak global economy and a strong U.S. dollar impacting its process and engineered materials businesses. Despite the sales dip, the company highlighted record operating cash flow and demonstrated resilience through its diverse business segments and a strategic focus on operational excellence, acquisitions, global expansion, and new product development. The company successfully integrated five acquisitions in 2016, spending $391.4 million, and strengthened its financial position by amending its credit agreement and completing a significant Euro and British Pound senior notes private placement. For investors, AMETEK's strategic acquisitions continue to be a key growth driver, with a pipeline of acquired businesses contributing to its portfolio. The company's commitment to research and development remains strong, with a significant portion of sales from new products. While facing macroeconomic headwinds, AMETEK's management remains focused on delivering earnings growth and superior returns through its disciplined execution of its four-pronged growth strategy.
Feb 23, 2017
2015
AMETEK INC/ Annual Report, Year Ended Dec 31, 2015
AMETEK, Inc. (AME) reported solid performance in its 2015 10-K filing, achieving record operating income, net income, and diluted earnings per share despite a slight decrease in overall net sales. The company's strategic focus on operational excellence, strategic acquisitions, global expansion, and new product development continues to drive growth. AMETEK successfully integrated several acquisitions throughout the year, contributing to its performance and expanding its market reach in electronic instruments and electromechanical devices. The company's financial health remains strong, supported by robust operating cash flow and effective management of its debt and capital resources, even as it navigated a challenging global economic environment and currency headwinds.
Feb 25, 2016
2014
AMETEK INC/ Annual Report, Year Ended Dec 31, 2014
AMETEK, Inc. reported a strong 2014, achieving record orders, net sales, operating income, net income, diluted earnings per share, and operating cash flow. The company's strategic growth plan, focused on operational excellence, strategic acquisitions, global expansion, and new product development, drove these results. AMETEK's diversified business model, spanning electronic instruments and electromechanical devices across various end markets like aerospace, medical, and industrial automation, continues to prove resilient. The company actively pursued its acquisition strategy, completing five acquisitions in 2014 with annualized sales of approximately $1.4 billion. These acquisitions, primarily within the Electronic Instruments Group (EIG), are expected to contribute to future growth. Financially, AMETEK strengthened its balance sheet by issuing $700 million in senior notes, using proceeds to pay down existing debt. The company demonstrated robust cash flow generation, supporting its operations, investments in research and development, and shareholder returns through dividends and share repurchases.
Feb 24, 2015
2013
AMETEK INC/ Annual Report, Year Ended Dec 31, 2013
AMETEK, Inc. reported strong performance in its 2013 fiscal year, achieving record orders, net sales, operating income, net income, and diluted earnings per share. The company's strategic growth plan, focused on Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions, continues to drive results. AMETEK expanded its global reach and product portfolio through three key acquisitions in 2013, which contributed positively to the year's financial performance. The company's commitment to innovation is evident in its continued investment in research and development, with new products introduced across its operating segments.
Feb 26, 2014
2012
AMETEK INC/ Annual Report, Year Ended Dec 31, 2012
AMETEK, Inc. (AME) delivered a strong financial performance in 2012, setting records for orders, backlog, net sales, operating income, net income, and diluted earnings per share. The company reported net sales of $3.3 billion, an increase of 11.5% from the previous year, driven by contributions from strategic acquisitions and effective "Operational Excellence" initiatives. Net income rose by 19.4% to $459.1 million, translating to diluted earnings per share of $1.88, a 19.0% increase. The company also saw record operating cash flow, underscoring its operational efficiency and financial health. AMETEK's growth strategy continues to focus on four key pillars: Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions. The company actively pursued growth through acquisitions, completing seven businesses in 2012 across its Electronic Instruments Group (EIG) and Electromechanical Group (EMG). International sales represented over half of the company's net sales, highlighting its global reach and diversification. With a robust backlog and a clear growth strategy, AMETEK is well-positioned for continued performance in its diversified niche markets.
Feb 21, 2013
2011
AMETEK INC/ Annual Report, Year Ended Dec 31, 2011
AMETEK, Inc. reported a strong performance in 2011, achieving record net sales of $3.0 billion, an increase of 21% from the prior year. This growth was driven by robust internal performance in both its Electronic Instruments Group (EIG) and Electromechanical Group (EMG), as well as contributions from strategic acquisitions. The company highlighted its continued growth through a four-pronged strategy: Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions and Alliances. AMETEK's financial health remained solid, with record operating income and net income, accompanied by a significant increase in operating cash flow. The company also expanded its financial flexibility by securing a new five-year revolving credit facility. Management's focus on innovation and cost control, coupled with a disciplined acquisition strategy, positions AMETEK for continued success in its diverse niche markets.
Feb 23, 2012
2010
AMETEK INC/ Annual Report, Year Ended Dec 31, 2010
AMETEK, Inc. (AME) reported a strong 2010, with sales increasing 18% to $2.47 billion, driven by robust internal growth across its Electronic Instruments Group (EIG) and Electromechanical Group (EMG), complemented by contributions from six strategic acquisitions. The company achieved record operating income, operating margins, net income, and diluted earnings per share. This performance reflects the successful execution of its four-pillar growth strategy: Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions and Alliances. The company's diversified business model, spanning aerospace, process, power, industrial, and floorcare markets, demonstrates resilience. AMETEK's commitment to innovation is evident in its new product introductions, and its focus on operational efficiency, including leveraging lower-cost manufacturing locations and Six Sigma initiatives, continues to enhance profitability. The company also increased its quarterly dividend by 50% and completed a three-for-two stock split, signaling confidence in its financial health and future prospects.
Feb 24, 2011
2009
AMETEK INC/ Annual Report, Year Ended Dec 31, 2009
AMETEK, Inc. (AME) reported its 2009 fiscal year results, a period marked by the global economic recession. Despite a 17% decrease in net sales compared to 2008, falling to $2.1 billion, the company demonstrated resilience. This was achieved through successful operational excellence initiatives and the integration of strategic acquisitions made throughout 2008 and 2009, which helped to offset internal sales declines. The company operates through two main segments: the Electronic Instruments Group (EIG) and the Electromechanical Group (EMG), serving diverse end markets such as aerospace, defense, industrial, and medical. AMETEK emphasizes a strategy of growth through operational excellence, new product development, global expansion, and strategic acquisitions, a strategy that has enabled it to navigate the challenging economic environment. The company also managed its balance sheet effectively, reducing total debt and maintaining a healthy liquidity position.
Feb 25, 2010
2008
AMETEK INC/ Annual Report, Year Ended Dec 31, 2008
AMETEK, Inc. (AME) reported strong financial performance for the fiscal year ended December 31, 2008, with record sales, operating income, net income, and diluted earnings per share. Sales increased by 18% to $2.5 billion, driven by organic growth across both the Electronic Instruments Group (EIG) and Electromechanical Group (EMG), as well as contributions from strategic acquisitions. Despite the challenging macroeconomic environment that began to impact order rates in the fourth quarter, the company demonstrated resilience through its Operational Excellence initiatives and diversified business model. AMETEK continued its growth strategy through several key acquisitions in 2008, expanding its presence in aerospace, motion control, and high-speed imaging markets. The company also maintained a strong focus on new product development and global market expansion. While facing increased debt due to financing activities for acquisitions, AMETEK's liquidity remained solid, and it was in compliance with all debt covenants. The company anticipates potential impacts from the economic downturn in 2009 but remains confident in its ability to leverage its strategic initiatives for continued growth.
Feb 26, 2009
2007
AMETEK INC/ Annual Report, Year Ended Dec 31, 2007
AMETEK, Inc. (AME) demonstrated strong financial performance in 2007, reporting record sales of $2.1 billion, a 17% increase from 2006. This growth was fueled by robust internal expansion in both its Electronic Instruments Group (EIG) and Electromechanical Group (EMG), alongside contributions from seven strategic acquisitions made during the year. The company also achieved record net income and diluted earnings per share, alongside a significant 23% increase in cash flow from operating activities. AMETEK's strategy continues to focus on differentiated niche markets through its Corporate Growth Plan, emphasizing Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions. The company's diverse product portfolio, serving industries like aerospace, defense, medical, and industrial markets, positions it well for continued growth. The strong financial results and effective acquisition integration underscore AMETEK's consistent execution of its business strategy, making it an attractive prospect for investors seeking growth and stability.
Feb 27, 2008
2006
AMETEK INC/ Annual Report, Year Ended Dec 31, 2006
AMETEK, Inc. (NYSE: AME) reported record 2006 results, with net sales up 26.8% to $1.82 billion, operating income up 32.3% to $309.0 million, and net income up 33.4% to $181.9 million (diluted EPS $1.71, up 32.6%). Growth came from roughly 9% internal growth in each of its two segments, Electronic Instruments (EIG) and Electromechanical (EMG), plus five acquisitions totaling about $177.6 million in cash (annualized sales of roughly $142 million). Operating margin improved to 17.0% from 16.3%, and segment margins reached 18.9%, which management attributes to its differentiated businesses and Operational Excellence cost programs. Operating cash flow hit a record $226.0 million, and free cash flow reached $196.8 million. The balance sheet grew with the acquisitions. Total debt rose to $681.9 million, and the debt-to-capital ratio fell to 41.4% from 43.8%. Goodwill and other intangibles total about $1.08 billion, roughly 51% of total assets, which creates impairment risk if performance weakens. The company also declared a three-for-two stock split and a 50% dividend increase to $0.06 per quarter, and it guided to continued strength across most businesses in 2007, with capital expenditures of about $40 million. Key risks include dependence on an acquisition-led growth strategy, international exposure (48% of 2006 sales), cyclicality in aerospace, defense, process instrumentation, and motors, raw material exposure to nickel, copper, steel, and gold, environmental liabilities (16 PRP sites, with $28.7 million of reserves), and asbestos lawsuits, for which no judgments have been entered to date.
Feb 28, 2007
2005
AMETEK INC/ Annual Report, Year Ended Dec 31, 2005
AMETEK, Inc. reported a strong financial year in 2005, achieving record net sales of $1.4 billion, a 16.4% increase over 2004. This growth was driven by robust internal performance across both the Electronic Instruments Group (EIG) and Electromechanical Group (EMG), as well as successful integration of three strategic acquisitions: SPECTRO, Solartron, and HCC. The company demonstrated its commitment to operational excellence and strategic growth, reflected in increased operating income, net income, and diluted earnings per share. AMETEK's diversification across various industries and geographies has proven effective in mitigating economic downturns. The company continues to focus on expanding its global presence and enhancing its product portfolio through new developments and strategic acquisitions, positioning itself for continued expansion in niche markets.
Mar 6, 2006
2004-A
AMETEK INC/ Annual Report (Amendment), Year Ended Dec 31, 2004
AMETEK, Inc.'s 2004 Form 10-K filing, as amended on June 30, 2005, primarily serves to update information related to Controls and Procedures and Exhibits. The amendment clarifies that other disclosures and exhibits from the original March 8, 2005 filing remain unchanged. Investors should note that this amendment focuses on procedural and compliance aspects rather than new financial performance data for the fiscal year ended December 31, 2004. Key details from the amendment include the certification by the principal executive and financial officers regarding the effectiveness of disclosure controls and procedures as of December 31, 2004. They concluded these controls are effective in all material respects. The amendment also states that no changes in internal control over financial reporting during the fourth quarter of 2004 materially affected these controls, according to management's evaluation.
Jul 1, 2005
2004
AMETEK INC/ Annual Report, Year Ended Dec 31, 2004
AMETEK, Inc. (AME) reported a strong fiscal year ended December 31, 2004, with record-breaking results in sales, operating income, net income, and diluted earnings per share. The company's strategic focus on operational excellence, strategic acquisitions, global market expansion, and new product development yielded significant growth. Key financial highlights include a 12.9% increase in net sales to $1.23 billion, driven by robust internal growth across both the Electronic Instruments Group (EIG) and Electromechanical Group (EMG), complemented by two strategic acquisitions completed during the year. The company also demonstrated a commitment to shareholder returns through a 100% increase in its quarterly cash dividend and a two-for-one stock split, enhancing marketability and liquidity. AMETEK's financial position remains solid, with improved debt-to-capital ratios and strong cash flow generation, positioning the company favorably for continued growth and strategic initiatives.
Mar 8, 2005
2003
AMETEK INC/ Annual Report, Year Ended Dec 31, 2003
AMETEK, Inc.'s 2003 Form 10-K filing reveals a strong operational year marked by record sales, operating income, net income, and diluted earnings per share, despite challenging economic conditions in the manufacturing sector. The company's strategic focus on acquisitions, global expansion, new product development, and operational excellence has driven this performance. Key to the growth were three strategic acquisitions completed in 2003: Airtechnology Holdings Limited, Solidstate Controls, Inc., and Chandler Instruments Company, LLC. These acquisitions not only expanded AMETEK's reach into specialized markets but also contributed significantly to revenue growth and product diversification. The company demonstrated robust financial health, with a substantial increase in cash flow from operating activities and a reduction in its debt-to-capital ratio. Significant corporate actions were also announced in early 2004, including a two-for-one stock split and a 100% increase in the quarterly cash dividend, signaling confidence in future performance and a commitment to returning value to shareholders. AMETEK's diversified business model, spanning electronic instruments and electromechanical products, provides resilience and opportunities for continued growth.
Mar 12, 2004
2002
AMETEK INC/ Annual Report, Year Ended Dec 31, 2002
AMETEK, Inc.'s 2002 10-K filing reveals a company demonstrating resilience and growth in a challenging economic environment. The company achieved record sales, operating income, net income, and diluted earnings per share, marking its ninth consecutive year of growth in earnings per share from continuing operations. This strong performance was driven by strategic acquisitions, effective cost-reduction initiatives, and the adoption of new accounting standards for goodwill. AMETEK operates through two primary segments: Electronic Instruments (EIG) and Electromechanical (EMG). The company's strategy focuses on increasing earnings growth through acquisitions in niche markets, global expansion, new product development, and operational excellence. Significant recent acquisitions, such as Airtechnology Holdings Limited and Solidstate Controls, Inc., are expected to further bolster its market position in aerospace, defense, and power generation sectors.
Mar 17, 2003