Mettler-Toledo International Inc.

mt.com

What Do They Do?

Sells precision laboratory and industrial instruments, plus related services, to life sciences, food, and manufacturing customers.

How Do They Make Money?

Customers pay for instruments when they ship, based on shipping terms. They also pay for service, including repair, calibration, maintenance, and parts, either when provided or through service contracts over time.

revenue

Segment	Share	Revenue	How money arrives
Product Sold outright	75% FY2022: 80%		Sold outright
Service	25% FY2022: 20%

Who Are Their Customers?

Pharmaceutical and biotech companies, research and testing labs, food and chemical manufacturers, retailers, and logistics businesses buy the instruments and services. Technically complex products are generally sold directly; simpler products, including some in the Americas, are sold through distributors and other indirect channels.

Do Revenues Turn Into Profits?

Yes. It kept 22 cents of every revenue dollar as net income in FY2025 and turned 21 cents into free cash flow.

Operating income, FY2025

30% of revenue

▼ −1% vs FY2024 ($1.2B, 31%)

Net income, FY2025

22% of revenue

▲ +1% vs FY2024 ($863.1M, 22%)

Free cash flow, FY2025

21% of revenue

▼ −2% vs FY2024 ($864.4M, 22%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2024, the three months to Jun 30, 2026

Revenue: ▲ +4%; vs $983.2M in Q2 FY2023
Net income: ▲ +15%; vs $202.3M in Q2 FY2023

Product share of revenue vs 74.7% in Q2 FY2023

Jul 30, 2026 Raised full-year sales and earnings guidance Management raised full-year guidance to 4% to 5% local-currency sales growth excluding tariff refunds and adjusted EPS of $47.15 to $47.50, from about 4% and $46.30 to $46.95.

Growing. Revenue grew 8% in 4 years, from $3.7B in FY2021 to $4B in FY2025, about 2% a year.

Revenue over time

Product Service

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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