Summary
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.
Financial Highlights
56 data points| Revenue | $5.16B |
| Cost of Revenue | $3.37B |
| Gross Profit | $1.79B |
| R&D Expenses | $161.90M |
| SG&A Expenses | $610.28M |
| Operating Expenses | $3.98B |
| Operating Income | $1.18B |
| Interest Expense | $88.48M |
| Net Income | $861.30M |
| EPS (Basic) | $3.78 |
| EPS (Diluted) | $3.75 |
| Shares Outstanding (Basic) | 227.76M |
| Shares Outstanding (Diluted) | 229.40M |
Key Highlights
- 1Record sales of $5.16 billion in 2019, a 6.5% increase from 2018, driven by 2% organic sales growth and contributions from recent acquisitions.
- 2Diluted Earnings Per Share (EPS) increased by 12.3% to $3.75 in 2019, up from $3.34 in 2018.
- 3Operating income grew by 9.5% to $1.18 billion in 2019, reflecting strong operational performance.
- 4The company completed two strategic acquisitions in 2019: Pacific Design Technologies, Inc. (PDT) and Gatan, further strengthening its market positions.
- 5Operating cash flow increased by 20.4% to $1.11 billion in 2019, demonstrating robust cash generation.
- 6AMETEK continues to invest in Research, Development, and Engineering (R&D), with $260.3 million spent in 2019 to drive innovation and new product development.
- 7The company maintained a solid financial position with a net debt-to-capitalization ratio of 31.7% at year-end 2019.