Mettler-Toledo International (MTD) investor relations material

Strategy and growth priorities

• Strategy remains focused on market leadership, innovation, Spinnaker, sales and marketing excellence, and operational excellence, supported by a broad portfolio, direct sales and service network, and harmonized digital backbone.

• Long-term sales growth target is >6%, versus a 10-year CAGR of ~5.5%; expected drivers include ~4% volume, ~2% price realization, share gains, service, replacement demand, automation, digitalization, and AI.

• Life Sciences is ~40% of sales, while Life Sciences, Food Manufacturing, and Chemical markets represent ~70%; Life Sciences benefits from structural drivers including biologics, oncology, GLP-1, and cell and gene therapies.

• Emerging markets exceed 33% of sales, including China at 16% and other emerging markets at 18%; onshoring, near-shoring, and region-for-region supply chains offer growth opportunities.

• Semiconductors, batteries, power and data centers, and advanced materials represent ~$250m of sales, with double-digit growth potential and an expected >0.5 percentage-point contribution to annual growth in coming years.

Financial outlook and performance

• Long-term objectives are >6% sales growth, mid-teens adjusted EPS growth, ~100% free-cash-flow conversion, and >100 bps annual operating margin expansion.

• FY2026 guidance is ~5% local-currency sales growth (~4% excluding acquisitions) and adjusted EPS of $47.70-$47.90, representing 12% growth; Q4 guidance includes ~5% sales growth, ~100 bps margin expansion, and adjusted EPS of $14.84-$15.04.

• FY2027 guidance is ~5% local-currency sales growth and adjusted EPS of $52.50-$53.50, up 10%-12%; forecast free cash flow is ~$950m and share repurchases ~$950m.

• Q3 2026 local-currency sales grew 6%, adjusted operating margin was 30.5% (+40 bps), and adjusted EPS was $12.57 (+13%); China and Asia/Rest of World each grew 13%, while Laboratory and Industrial grew 6% and Service 7%.

• ROIC was 49% in 2025, up ~1,500 bps since 2015; net debt/EBITDA leverage was ~1.5x, and outstanding shares declined 55% since the buyback program began.

Commercial execution and service

• Service exceeds 25% of sales, with ~3,000 technicians and a ~$3bn serviceable installed-base opportunity that is ~33% penetrated; service penetration gains and growth are targeted to outpace the overall business.

• Spinnaker combines lead generation, AI-enabled sales tools, digital engagement, and resource optimization; TopK covers 3m target sites and is expected to generate ~170,000 dynamic alerts in 2026.

• Replacement demand is returning after deferred purchases increased the average age of the installed base; recent product benefits, automation, digitalization, and compliance needs support replacement activity.

• Front-loaded field sales and technical resources target pharma and other investment sites; more than half of manufacturing and QA/QC exposure is expected to benefit from U.S. onshoring.