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Mettler-Toledo InternationalMTD

Legal name
Mettler-Toledo International Inc.
Sector
Other
Industry
Laboratory Analytical Instruments
Exchange
NYSE

Stock Price $MTD

Latest filings

You are here#61 of 87 in Industrials by market cap

Filing record · 2016–202610-K1110-Q328-K94

MTD filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 94 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $4.03B
YoY changeLargest recent move+20.5%in FY21Latest +4.0%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All MTD Financial Metrics53 metrics

Income Statement13

Balance Sheet24

Cash Flow12

Per Share4

02—Overview

Mettler-Toledo International Financial Overview 2021–2025

Updated Nov 4, 2026

Mettler-Toledo grew diluted EPS 28%a between FY2021 and FY2025, while sales rose only 8%. That gap is the story. This is a pricing-and-buyback compounder, not a volume grower, and the margin and share count do the heavy lifting.

Revenue climbed from $3.72 billion in FY2021 to $4.03 billionb in FY2025, with a dip to $3.79 billion in FY2023 as China demand collapsed. EPS went from $32.78 to $42.05 over the same span. Gross margin rose from 58.4% to 59.4%, peaking at 60.1% in FY2024 before roughly $50 million of pre-mitigation tariff costs pulled it back. Operating cash flow held near $956 million in FY2025, and the company spent $800 million on repurchases that year. It pays no dividend, so buybacks are the whole capital return.

The cost shows up on the balance sheet. Shareholders' equity fell from $171.4 millionc in FY2021 to negative $23.6 million in FY2025, after $9.84 billion of cumulative treasury purchases. Total debt reached $2.15 billion against $66.9 million of cash. China's share of external sales slid from 21% in FY2022 to 16% in FY2024. At the close of FY2025, the shares traded at $1,394.19, or 33.2x earnings, for a $30.9 billion market cap. Investors were paying a premium multiple for a leveraged, buyback-driven earnings stream.

Recent Developments (Q1 and Q2 2026)

Q2 2026 brought a clear earnings acceleration. Sales rose 4% to $1.03 billiond, and diluted EPS reached $11.55 versus $9.76. Adjusted EPS of $11.46 rose 14%. A one-time $52.4 million tariff refund lifted reported gross margin to 63.3%, but excluding it margin was 59.3% versus 59.0%. In Q1 2026, gross margin had slipped to 58.7% from 59.5%. Management raised full-year Adjusted EPS guidance twice, to $47.15–$47.50. Equity turned positive at $12.8 million. Natalia Shuman joined the board on August 3, 2026.

Bull case: pricing, buybacks and tariff relief are pushing guidance higher while debt fell to $2.11 billione. Bear case: underlying growth was only 1% in local currencies in Q1 2026, and the P/E of 30.1x as of the July 30, 2026 report date still assumes steady execution. New Section 301 tariffs of 12.5% on Swiss imports add cost risk.

What to watch: Section 301 tariff impact on gross margin; organic local-currency growth after the refund distortions fade

03—Filings

Recent SEC Filings

  1. 8-KMettler-Toledo International 8-K Report, Executive Changes (Aug 3, 2026)Mettler-Toledo International Inc. (NYSE: MTD) filed this Form 8-K on August 3, 2026 to report the appointment of Natalia Shuman as a director, effective that same day. The Board determined she is an independent director under New York Stock Exchange listing standards and increased its size from nine to ten directors in connection with the appointment. The Board has not yet decided which committees, if any, she will serve on. Her director compensation will be consistent with the company's other independent directors, as described in its March 18, 2026 definitive proxy statement. Ms. Shuman is currently President and Chief Executive Officer of MISTRAS Group, a position she has held since January 2025, and she sits on that company's board. Previously she was Executive Vice President and a member of the Group Operating Council at Eurofins Scientific, and she served as Chief Executive Officer of Bureau Veritas North America from 2017 to 2021. The filing states there are no arrangements or understandings under which she was selected as a director and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K. The filing also furnishes a press release dated August 3, 2026 announcing the appointment (Exhibit 99.1). Chair Roland Diggelmann said her experience in testing, inspection, and certification services for industrial, biopharma, and food companies, along with her perspective on technology and digital enablement in service, will be valuable to the Board. The filing does not report any financial results.
  2. 8-KMettler-Toledo International 8-K Report, Financial Results (Jul 30, 2026)Mettler-Toledo International Inc. furnished an 8-K under Item 2.02 attaching its press release, dated July 30, 2026, reporting results for the three and six months ended June 30, 2026. For the second quarter, reported net sales rose 4% to $1.027 billion, and diluted EPS was $11.55 versus $9.76 a year earlier. Adjusted EPS was $11.46, up 14% from $10.09. Earnings before taxes were $289.4 million versus $248.7 million, and Adjusted Operating Profit was $309.3 million versus $283.3 million. Non-GAAP results exclude a one-time $52 million benefit from IEEPA tariff refunds in Cost of Sales and a one-time $28 million related refund to customers that reduced Net Sales. Local currency sales increased 6% excluding the one-time tariff refund, which reduced growth by 3%. For the six months, reported net sales increased 6% to $1.974 billion, diluted EPS was $19.87 versus $17.56, and Adjusted EPS was $20.35, up 11% from $18.27. Operating cash flow was $450.2 million, and Adjusted Free Cash Flow was $366.7 million, compared with $408.7 million in the prior-year period. Shareholders' equity was $12.8 million at June 30, 2026, compared with a deficit of $23.6 million at December 31, 2025. Full-year 2026 guidance calls for local currency sales growth of approximately 4% to 5% excluding tariff refunds, and Adjusted EPS of $47.15 to $47.50, up from prior guidance of $46.30 to $46.95 and representing growth of approximately 10% to 11%. Third-quarter guidance calls for local currency sales growth of approximately 4% and Adjusted EPS of $12.00 to $12.15.
  3. 8-KMettler-Toledo International 8-K Report, Executive Changes (May 13, 2026)Mettler-Toledo International Inc. filed this Form 8-K under Item 5.02(e) to report compensatory arrangements for its named executive officers. On May 7, 2026, the Compensation Committee of the Board of Directors, with guidance from its independent compensation consultant, approved 2026 long-term incentive (LTI) awards. The Committee adopted a bifurcated grant structure in which each grant is composed of one-third performance share units (PSUs), one-third non-qualified stock options, and one-third restricted stock units (RSUs), with half of the awards granted in May 2026 and half in November 2026. The Committee stated that this change improves the retentive and motivational objectives of the compensation program in the current environment. General vesting schedules for the PSUs and non-qualified stock options are unchanged, while the RSUs will carry a three-year cliff vesting schedule. The awards were granted under the Company's Equity Incentive Plan, as amended. The filing sets out the May 2026 grant amounts for four executives: Patrick Kaltenbach (Chief Executive Officer) received 838 PSUs, 2,005 non-qualified stock options, and 810 RSUs; Shawn P. Vadala (Chief Financial Officer) received 301 PSUs, 720 options, and 291 RSUs; Susan Graham-Bryce (Chief Human Resources Officer) received 73 PSUs, 175 options, and 71 RSUs; and Richard Wong (Head of Asia and Pacific) received 107 PSUs, 255 options, and 103 RSUs. Share amounts were determined using the closing stock price on the May 12, 2026 grant date. The filing states that the CEO's target LTI value increased by approximately 6.25% versus 2025 under this grant, and the NEOs' target LTI value increased by approximately 12.5%.
  4. 8-KMettler-Toledo International 8-K Report, Shareholder Vote Results (May 11, 2026)Mettler-Toledo International Inc. filed this Current Report under Item 5.07 to disclose the results of its annual meeting of stockholders, held on May 7, 2026. As of the March 9, 2026 record date, 20,248,505 shares of common stock were entitled to vote. Holders of 18,545,318 shares were represented in person or by proxy, which the filing states constituted a quorum. The meeting considered three proposals: the election of nine directors for one-year terms, ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm, and an advisory vote to approve executive compensation. For each director, votes for ranged from 16,226,000 (Thomas P. Salice) to 17,915,884 (Michael J. Tokich), with 556,174 broker non-votes recorded for each nominee. For the PricewaterhouseCoopers ratification, 17,396,232 shares voted for, 1,141,457 against, and 7,629 abstained. For the advisory say-on-pay vote, 15,794,744 shares voted for, 2,177,522 against, 16,878 abstained, and 556,174 were broker non-votes. The filing reports vote tallies only and does not include commentary on the outcomes or any board actions that follow from them.
  5. 8-KMettler-Toledo International 8-K Report, Financial Results (May 7, 2026)Mettler-Toledo International Inc. (NYSE: MTD) reported first-quarter 2026 results in a press release furnished as Exhibit 99.1 to this Form 8-K. Reported sales rose 7% to $947.1 million from $883.7 million a year earlier, while local currency sales increased 3%, including a 1% increase excluding acquisitions. Earnings before taxes were $209.7 million versus $201.9 million, and net earnings were $169.5 million versus $163.6 million. Diluted EPS as reported was $8.33, compared with $7.81, and Adjusted EPS was $8.91, up 9% from $8.19. By region, reported sales increased 3% in the Americas, 12% in Europe and 8% in Asia/Rest of World. Local currency sales grew 2% in the Americas, 1% in Europe and 5% in Asia/Rest of World. Adjusted Operating Profit was $246.2 million, up from $236.7 million, while operating cash flow was $139.8 million, down from $194.4 million, and Adjusted Free Cash Flow was $119.7 million versus $179.8 million. Management cited solid margin execution, and CEO Patrick Kaltenbach described market conditions as uncertain. For 2026, management expects local currency sales growth of approximately 4%, unchanged from prior guidance, and Adjusted EPS of $46.30 to $46.95, up from the previous range of $46.05 to $46.70. For the second quarter, it forecasts local currency sales growth of approximately 3% and Adjusted EPS of $10.70 to $10.85.
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View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

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