Mettler Toledo International (MTD) FY2024 results: revenue $3.9 billion, up 2.2% on the year

Mettler Toledo International Inc. (MTD) reported revenue of $3.9 billion for fiscal 2024, the year ended 31 December 2024, up 2.2% on the year before. Net income was $863 million, up 9.4%, and diluted earnings per share $40.48. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2025.

Revenue

$3.9 billion

+2.2% on the year

FY2017FY2024

Operating margin

n/a

FY2017FY2024

Net income

$863 million

+9.4% on the year

FY2017FY2024

Diluted EPS

$40.48

+12.8% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	3,872	3,788	3,920	+2.2%
Cost of revenue	1,547	1,547	1,612	-0.0%
Gross profit	2,326	2,241	2,308	+3.8%
Gross margin	60.1%	59.2%	58.9%
Research and development	189	185	177	+2.2%
Selling, general and administrative	936	904	938	+3.6%
Interest expense	74.6	77.4	55.4	-3.5%
Pre-tax income	1,037	974	1,071	+6.5%
Income tax	174	185	198	-5.9%
Effective tax rate	16.8%	19.0%	18.5%
Net income	863	789	873	+9.4%
Net margin	22.3%	20.8%	22.3%
Diluted EPS	$40.48	$35.90	$38.41	+12.8%

$ million except per share.

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	FY2024	FY2023	FY2022	On the year
Operating cash flow	968	966	859	+0.3%
Capital expenditure	104	105	121	-1.4%
Free cash flow	864	861	738	+0.5%
Free cash flow margin	22.3%	22.7%	18.8%
Cash from investing	-119	-132	-139
Cash from financing	-856	-860	-716
Depreciation and amortisation	77.5	76.6	73.3	+1.2%
Share-based compensation	20.0	17.9	19.7	+11.4%
Buybacks	850	900	1,100	-5.6%
Diluted shares, weighted	21m	22m	23m	-3.0%
Shares outstanding at period end	21m	22m	22m	-2.7%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-127	-150	24.8
Debt	2,014	2,081	2,015	-3.2%
Operating lease liabilities	82.0	86.9	86.9	-5.7%
Finance lease liabilities	5.4	n/a	n/a
Other liabilities	1,266	1,338	1,366	-5.4%
Total liabilities and equity	3,240	3,356	3,492	-3.4%
Fixed assets	770	803	779	-4.1%
Goodwill	669	670	660	-0.2%
Intangible assets	257	285	306	-9.9%
Cash and equivalents	59.4	69.8	96.0	-15.0%
Receivables	687	664	709	+3.5%
Inventory	342	386	442	-11.3%
Other assets	455	477	501	-4.6%
Total assets	3,240	3,356	3,492	-3.4%

10-K for the year ended 31 December 2024, filed 7 February 2025: the filing.