Mettler Toledo International (MTD) FY2019 results: revenue $3.0 billion, up 2.5% on the year
Mettler Toledo International Inc. (MTD) reported revenue of $3.0 billion for fiscal 2019, the year ended 31 December 2019, up 2.5% on the year before. Net income was $561 million, up 9.5%, and diluted earnings per share $22.47. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2020.
Revenue
$3.0 billion
+2.5% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$561 million
+9.5% on the year
FY2012FY2019
Diluted EPS
$22.47
+13.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,009
2,936
2,725
+2.5%
Cost of revenue
1,267
1,251
1,152
+1.3%
Gross profit
1,741
1,684
1,573
+3.4%
Gross margin
57.9%
57.4%
57.7%
Research and development
144
141
128
+2.0%
Selling, general and administrative
819
813
795
+0.8%
Interest expense
37.4
34.5
32.8
+8.4%
Pre-tax income
681
652
574
+4.5%
Income tax
120
139
198
-13.6%
Effective tax rate
17.7%
21.4%
34.5%
Net income
561
513
376
+9.5%
Net margin
18.6%
17.5%
13.8%
Diluted EPS
$22.47
$19.88
$14.24
+13.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
603
565
516
+6.8%
Capital expenditure
97.3
143
127
-31.8%
Free cash flow
506
422
389
+19.9%
Free cash flow margin
16.8%
14.4%
14.3%
Cash from investing
-99.1
-139
-217
Cash from financing
-477
-388
-320
Depreciation and amortisation
54.1
51.5
45.0
+5.1%
Share-based compensation
18.3
17.6
16.6
+4.0%
Buybacks
775
475
400
+63.2%
Diluted shares, weighted
25m
26m
26m
-3.1%
Shares outstanding at period end
24m
25m
26m
-3.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
421
590
547
-28.7%
Debt
1,291
1,035
980
+24.8%
Operating lease liabilities
60.9
n/a
n/a
Other liabilities
1,016
994
1,023
+2.2%
Total liabilities and equity
2,789
2,619
2,550
+6.5%
Fixed assets
749
718
668
+4.3%
Goodwill
536
535
540
+0.2%
Intangible assets
206
217
227
-5.1%
Cash and equivalents
208
178
149
+16.7%
Receivables
566
536
529
+5.7%
Inventory
274
269
255
+2.0%
Other assets
250
167
182
+50.0%
Total assets
2,789
2,619
2,550
+6.5%
10-K for the year ended 31 December 2019, filed 7 February 2020: the filing.