Mettler Toledo International (MTD) Q4 FY2021 earnings: revenue $1.0 billion, up 10.6% on the year

Mettler Toledo International Inc. (MTD) reported revenue of $1.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 10.6% on the same quarter a year earlier. Net income was $174 million, down 19.6% on the year, and diluted earnings per share $9.90. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2022.

Revenue

$1.0 billion

+10.6% on the year · +9.0% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

n/a

Q1 FY2020Q4 FY2021

Net income

$174 million

-19.6% on the year · -14.6% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$9.90

+9.6% on the year · +13.7% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	1,037	952	938	+9.0%	+10.6%
Cost of revenue	430	n/a	n/a
Gross profit	607	n/a	n/a
Gross margin	58.5%	n/a	n/a
Research and development	45.6	n/a	n/a
Selling, general and administrative	242	n/a	n/a
Interest expense	11.5	n/a	n/a
Pre-tax income	286	n/a	n/a
Income tax	55.1	n/a	n/a
Effective tax rate	19.3%	n/a	n/a
Net income	174	204	216	-14.6%	-19.6%
Net margin	16.8%	n/a	n/a
Diluted EPS	$9.90	$8.71	$9.03	+13.7%	+9.6%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	241	n/a	n/a
Capital expenditure	37.8	n/a	n/a
Free cash flow	203	n/a	n/a
Free cash flow margin	19.6%	n/a	n/a
Cash from investing	-62.9	n/a	n/a
Cash from financing	-264	n/a	n/a
Depreciation and amortisation	18.1	16.9	15.0	+7.5%	+21.0%
Share-based compensation	5.7	n/a	n/a
Buybacks	272	n/a	n/a
Diluted shares, weighted	23m	23m	24m	+0.3%	-2.1%
Shares outstanding at period end	23m	24m	23m	-4.0%	-2.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	171	159	283	+7.7%	-39.4%
Debt	1,682	1,693	1,334	-0.7%	+26.0%
Operating lease liabilities	88.3	n/a	n/a
Other liabilities	1,385	n/a	n/a
Total liabilities and equity	3,327	n/a	n/a
Fixed assets	799	n/a	n/a
Goodwill	649	n/a	n/a
Intangible assets	307	n/a	n/a
Cash and equivalents	98.6	184	94.3	-46.3%	+4.6%
Receivables	647	n/a	n/a
Inventory	415	n/a	n/a
Other assets	411	n/a	n/a
Total assets	3,327	n/a	n/a

Questions

What was Mettler Toledo International's revenue in Q4 FY2021?

Mettler Toledo International (MTD) reported revenue of $1.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 10.6% on the same quarter a year earlier.

How much did Mettler Toledo International earn in Q4 FY2021?

Net income for Q4 FY2021 was $174 million, down 19.6% on the year, and diluted earnings per share $9.90.

When did Mettler Toledo International report Q4 FY2021 results?

Mettler Toledo International filed its 10-K for the year that ended with the quarter on 11 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,037	898	978	986	1,058	929	982	942	935	926	947	955	1,045	884	983	1,030	1,130	947	1,027	1,094
Cost of revenue	430	378	407	401	426	382	399	383	383	378	381	382	406	358	403	420	454	391	377	440
Gross profit	607	520	572	585	632	547	584	560	552	548	566	572	639	526	580	609	675	556	650	654
Gross margin	59%	58%	58%	59%	60%	59%	59%	59%	59%	59%	60%	60%	61%	60%	59%	59%	60%	59%	63%	60%
R&D	45.6	43.0	44.0	44.1	45.9	45.5	47.2	46.1	46.4	46.4	45.8	47.1	50.1	46.3	49.3	51.1	52.6	51.3	53.0	53.6
SG&A	242	235	242	233	228	235	229	217	223	234	236	229	237	243	247	248	260	258	263	267
Interest expense	11.5	11.3	12.8	14.5	16.8	18.2	19.2	20.3	19.7	19.2	18.9	18.6	17.9	16.7	16.8	17.7	17.4	17.0	17.2	15.7
Pre-tax income	286	213	257	276	325	227	263	251	233	221	243	259	315	202	249	269	329	210	289	300
Tax rate	19%	18%	17%	20%	18%	17%	19%	20%	21%	20%	9%	18%	20%	19%	19%	19%	13%	19%	20%	18%
Net income	174	174	212	221	188	188	214	202	185	178	222	212	252	164	202	217	286	169	233	246
Net margin	17%	19%	22%	22%	18%	20%	22%	21%	20%	19%	23%	22%	24%	19%	21%	21%	25%	18%	23%	22%
Diluted EPS	$9.90	$7.55	$9.29	$9.76	$11.81	$8.47	$9.69	$9.21	$8.52	$8.24	$10.37	$9.96	$11.91	$7.81	$9.76	$10.57	$13.98	$8.33	$11.55	$12.29
Operating cash flow	241	90.8	219	245	304	153	267	264	282	190	258	255	266	194	236	299	226	140	310	309
Capital expenditure	37.8	19.2	43.2	26.8	32.0	23.2	28.8	21.0	32.4	17.4	23.8	21.4	41.3	17.3	23.9	24.5	41.5	17.4	27.8	27.1
Free cash flow	203	71.7	176	219	272	130	238	243	249	173	234	233	225	177	212	275	184	122	283	281
Buybacks	272	275	275	275	275	250	250	224	176	212	212	212	212	219	219	219	144	206	206	226
Shares outstanding	23m	23m	23m	22m	22m	23m	22m	22m	22m	21m	22m	22m	21m	21m	22m	22m	20m	21m	22m	22m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 11 February 2022: the filing.