AMETEK (AME) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 and full-year results in sales, orders, operating income, EBITDA, EPS, and cash flow, with double-digit growth in key metrics year-over-year, driven by strong organic growth, acquisitions, and robust operating performance.

• Ended Q4 with a record backlog of $3.58 billion, driven by strong order growth and robust demand across segments.

• Completed strategic acquisitions, including FARO Technologies, Kern Microtechnik, and LKC Technologies, expanding technology and med tech exposure.

• Full-year sales reached $7.4 billion, up 7% year-over-year, with adjusted EPS up 9% to $7.43.

Financial highlights

• Q4 sales reached $2 billion, up 13% year-over-year; organic sales up 5%, acquisitions added 7%, FX a 1% tailwind.

• Q4 operating income was $523 million (+12%), with operating margins at 26.2% and core margins at 27.6% (+100 bps).

• Q4 EBITDA was $618 million (+10%), EBITDA margin 30.9%.

• Q4 free cash flow was $527 million (+6%), with conversion of 132%.

• Full-year 2025 sales were $7.4 billion (+7%), operating income $1.94 billion (+7%), EBITDA $2.33 billion (+7%), and EPS $7.43 (+9%).

Outlook and guidance

• 2026 sales expected to grow mid- to high-single digits; organic sales up low- to mid-single digits.

• 2026 EPS guidance: $7.87–$8.07 (+6%–9%).

• Q1 2026 sales expected up ~10% year-over-year; adjusted EPS $1.85–$1.95 (+6%–9%).

• Free cash flow conversion for 2026 expected at 110%–115% of net income.

• Capital expenditures for 2026 projected at $160 million (~2% of sales).