Mettler Toledo International Inc/ (MTD)
Health Care · Life Sciences Tools & Services · US stock · S&P 500 component
$1,684.64
▲ +6.70 (0.40%)
Fair valueOvervalued
$1,362 −19.2% to fair value
$681fair band $1,159–$1,650$2,042
Day's range
$1,666.13 – $1,713.39
52-week range
$1,023.05 – $1,713.39
About Mettler Toledo International Inc/
Mettler-Toledo makes precision instruments used to weigh, measure and analyse. Its range covers laboratory balances, pipettes and analytical instruments for research and quality control, industrial weighing and product inspection systems for factories and food producers, and retail weighing equipment. Customers include pharmaceutical and chemical companies, research laboratories, food producers and manufacturers. The group is organised mainly around geographic regions, with operations in Europe, Asia and North America.
The company earns money from instruments and from recurring service, consumables and software that customers need over the life of each device. Revenue was $4.1 billion over the last twelve months, with growth of 0.9% a year across the last three years. The operating margin is 28.2%, and the business earns a profit of 46% on the capital invested in it. Net debt is 1.8 times EBITDA, and no dividend is paid. On the site's X-Ray Score it receives 47 out of 100.
Price chart
52-wk range $1,023.05 – $1,713.39Volume 229,704Daily, split-adjusted
Vitals
Market cap$34.0B
52-week range$1,023.05 – $1,713.39
Volume (last day)229,704
P/E (TTM)38.0
EBIT / EV yield3.2%
Free-cash-flow yield2.5%
Dividend yieldNo dividend
Revenue (TTM)$4.1B
Net income (TTM)$906M
Operating margin28.2%
Return on capital46.4%
Debt incl. leases$2.1B
Cash & securities$51M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$1,362middle half of models $971 – $1,588
Overvalued
−19.2% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $1,685
Undervalued < $1,159Fair $1,159 – $1,650Overvalued > $1,650
P/E multiple
$1,661
P/B multiple
$971
P/S multiple
$1,529
EV/EBITDA multiple
$1,835
EV/EBIT multiple
$1,731
EV/revenue multiple
$1,566
10-year DCF, EBITDA exit
$1,453
5-year DCF, EBITDA exit
$1,588
10-year DCF, revenue exit
$1,432
5-year DCF, revenue exit
$1,563
10-year DCF, growth exit
$725
5-year DCF, growth exit
$708
Earnings power value
$938
Growth the price implies
19.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
19/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.2%
Free-cash-flow yield2.5%
Fair value vs price0.8×
Growth
Weak
33/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)0.9%
EPS growth (3y)3.1%
Growth consistency70%
Profitability
Strong
75/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital46.4%
Operating margin28.2%
Gross profitability67.9%
Financial health
Fair
58/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA1.8×
Interest cover16.8×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
-4.6%
Mar '25
+3.9%
Jun '25
+7.9%
Sep '25
+8.1%
Dec '25
+7.2%
Mar '26
+4.5%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.0B, diluted EPS $11.55.
Compare with peers
TECH BIO-TECHNE Corp45 IQV Iqvia Holdings Inc.43 A Agilent Technologies,...40 ILMN Illumina, Inc.39Other Life Sciences Tools & Services companies by X-Ray Score.
SWOT analysis: Mettler Toledo International Inc/
Strengthsinside the company
- Return on invested capital is 46.4%, against a median of 8.5% for industry peers.
- Operating margin of 28.2% is well above the 18.6% median of industry peers, a sign of pricing power or lower costs.
- Operating profit covers interest 17x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- The price is 19% above our fair value estimate, so there is little room for disappointment.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare MTD with peers and sector
Medians of 8 Life Sciences Tools & Services peers and of 59 Health Care stocks in our universe.
Largest peers (X-Ray Score): TMO 34, DHR 30, A 40, IQV 43, WAT 33, ILMN 39.
| Metric | MTD | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 47 | 37 | 49 |
| Valuation | 19 | 28 | 55 |
| Growth | 33 | 28 | 48 |
| Profitability | 75 | 41 | 49 |
| Financial health | 58 | 38 | 48 |
| Dividends | – | 45 | 51 |
Sector leaders: highest X-Ray Score in Health Care
MTD ranks #37 of 60 in Health Care and #1 of 9 in Life Sciences Tools & Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for MTD
Each factor is rated by where MTD stands among the 60 Health Care stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 4 Good · 8 Average · 10 Bad of 22
Growth: 0 · 1 · 2
Profitability: 4 · 1 · 0
Financial strength: 0 · 3 · 1
Valuation: 0 · 0 · 5
Cash flow: 0 · 2 · 2
Efficiency: 0 · 1 · 0
| Factor | MTD | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +0.9% | Bad beats 21% | +5.5% | – | – |
| Revenue growth, last year | +4.0% | Bad beats 29% | +7.1% | +4.0% | ≈ In line |
| EPS growth, 3 years a year | +3.1% | Average beats 45% | +5.0% | – | – |
| Profitability | |||||
| Gross margin | 60.3% | Average beats 41% | 65.0% | 59.2% | ≈ In line |
| Operating margin | 28.2% | Good beats 84% | 16.4% | 27.8% | ≈ In line |
| Net margin | 21.9% | Good beats 82% | 11.1% | 21.6% | ≈ In line |
| Return on invested capital | 46.4% | Good beats 89% | 12.2% | – | – |
| Return on equity | 7,062.4% | Good beats 99% | 13.7% | – | – |
| Financial strength | |||||
| Net debt / EBITDA | 1.8x | Average beats 60% | 2.0x | 1.8x | ≈ In line |
| Interest cover | 16.8x | Average beats 60% | 9.4x | 16.3x | ≈ In line |
| Current ratio | 1.12 | Bad beats 23% | 1.52 | 1.11 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 43% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 37.5x | Bad beats 31% | 28.2x | 33.8x | ▼ Worse |
| Price / book | 2,649.4x | Bad beats 1% | 3.7x | – | – |
| Price / sales | 8.2x | Bad beats 18% | 3.7x | 7.2x | ▼ Worse |
| EV / EBITDA | 30.9x | Bad beats 22% | 17.6x | 27.7x | ▼ Worse |
| Free cash flow yield | 2.5% | Bad beats 16% | 4.4% | 2.9% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 20.9% | Average beats 64% | 16.3% | 21.6% | ≈ In line |
| Cash from operations / net income | 1.08 | Bad beats 9% | 1.61 | 1.12 | ≈ In line |
| Free cash flow growth, 3 years a year | +4.8% | Average beats 54% | +4.3% | – | – |
| Accruals (lower is better) | −1.9% | Bad beats 19% | −3.9% | – | – |
| Efficiency | |||||
| Days sales outstanding | 65 days | Average beats 45% | 62 days | 65 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 4 Good · ● 6 Average · ● 6 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 46/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $3.7B | $3.9B | $3.8B | $3.9B | $4.0B |
| Operating income | $993M | $1.1B | $1.1B | $1.1B | $1.1B |
| Net income | $769M | $873M | $789M | $863M | $869M |
| Operating cash flow | $909M | $859M | $966M | $968M | $956M |
| Operating margin | 26.7% | 28.7% | 27.7% | 28.7% | 27.8% |
| Free cash flow | $801M | $738M | $861M | $864M | $849M |
| Diluted EPS | $32.78 | $38.41 | $35.90 | $40.48 | $42.05 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
11 bullish · 0 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 1,620.4 | Bullish |
| EMA 10 | 1,623.7 | Bullish |
| SMA 20 | 1,570.7 | Bullish |
| EMA 20 | 1,574.9 | Bullish |
| SMA 50 | 1,461.4 | Bullish |
| EMA 50 | 1,486.8 | Bullish |
| SMA 100 | 1,370.9 | Bullish |
| EMA 100 | 1,414.3 | Bullish |
| SMA 200 | 1,331.3 | Bullish |
| EMA 200 | 1,361.4 | Bullish |
Oscillators (daily)
| RSI (14) | 77.61 | Bearish |
| MACD (12, 26) | 60.94 | Bullish |
| Momentum (12) | 9.89 | Bullish |
| Stochastic %K (14) | 87.73 | Bearish |
| Williams %R (14) | -12.27 | Bearish |
| CCI (20) | 155.4 | Bearish |
Pivot points (classic, last session)
S3 1,615.5 | S2 1,640.8 | S1 1,662.7 | Pivot 1,688.1 | R1 1,710.0 | R2 1,735.3 | R3 1,757.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold MTD
| ETF | Share of the fund |
|---|---|
| VOT Vanguard Mid-Cap Growth | 0.57% |
| FQAL Fidelity Quality Factor | 0.48% |
| XLV Health Care Select Sector SPDR | 0.45% |
| FHLC Fidelity MSCI Health Care Index | 0.42% |
| VHT Vanguard Health Care | 0.38% |
| IYJ iShares U.S. Industrials | 0.34% |
| IXJ iShares Global Healthcare | 0.33% |
| CURE Direxion Daily Healthcare Bull 3X | 0.33% |
The eight funds with the largest weight in MTD among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
MTD SEC filings
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.