Mettler Toledo International (MTD) FY2020 results: revenue $3.1 billion, up 2.5% on the year
Mettler Toledo International Inc. (MTD) reported revenue of $3.1 billion for fiscal 2020, the year ended 31 December 2020, up 2.5% on the year before. Net income was $603 million, up 7.4%, and diluted earnings per share $24.91. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2021.
Revenue
$3.1 billion
+2.5% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$603 million
+7.4% on the year
FY2013FY2020
Diluted EPS
$24.91
+10.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,085
3,009
2,936
+2.5%
Cost of revenue
1,284
1,267
1,251
+1.3%
Gross profit
1,801
1,741
1,684
+3.4%
Gross margin
58.4%
57.9%
57.4%
Research and development
140
144
141
-2.7%
Selling, general and administrative
820
819
813
+0.1%
Interest expense
38.6
37.4
34.5
+3.2%
Pre-tax income
749
681
652
+9.9%
Income tax
146
120
139
+21.4%
Effective tax rate
19.5%
17.7%
21.4%
Net income
603
561
513
+7.4%
Net margin
19.5%
18.6%
17.5%
Diluted EPS
$24.91
$22.47
$19.88
+10.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
725
603
565
+20.1%
Capital expenditure
92.5
97.3
143
-5.0%
Free cash flow
632
506
422
+24.9%
Free cash flow margin
20.5%
16.8%
14.4%
Cash from investing
-100
-99.1
-139
Cash from financing
-744
-477
-388
Depreciation and amortisation
57.7
54.1
51.5
+6.8%
Share-based compensation
18.7
18.3
17.6
+2.2%
Buybacks
775
775
475
-0.0%
Diluted shares, weighted
24m
25m
26m
-3.1%
Shares outstanding at period end
23m
24m
25m
-2.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
283
421
590
-32.8%
Debt
1,334
1,291
1,035
+3.4%
Operating lease liabilities
n/a
60.9
n/a
Other liabilities
1,197
1,016
994
+17.8%
Total liabilities and equity
2,815
2,789
2,619
+0.9%
Fixed assets
799
749
718
+6.7%
Goodwill
550
536
535
+2.7%
Intangible assets
197
206
217
-4.6%
Cash and equivalents
94.3
208
178
-54.6%
Receivables
594
566
536
+4.9%
Inventory
298
274
269
+8.5%
Other assets
283
250
167
+13.1%
Total assets
2,815
2,789
2,619
+0.9%
10-K for the year ended 31 December 2020, filed 8 February 2021: the filing.