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Ametek key statistics and ratios

In fiscal 2025, Ametek had return on equity of 14.6%, an operating margin of 25.8%, debt equal to 21.5% of equity and a current ratio of 1.06. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin———————32.7%33.5%34.2%34.7%34.0%34.5%34.9%36.1%35.7%36.0%36.4%
Operating margin17.4%19.5%21.3%22.4%22.7%22.3%22.8%20.6%21.0%22.2%22.8%22.6%23.6%24.4%25.9%25.6%25.8%26.0%
Net margin9.8%11.5%12.9%13.8%14.4%14.5%14.9%13.3%15.8%16.1%16.7%19.2%17.9%18.9%19.9%19.8%20.0%19.9%
Free-cash-flow margin15.8%15.5%15.3%16.6%16.6%16.3%15.2%18.1%17.6%17.4%19.6%26.6%18.9%16.4%24.2%24.5%22.6%23.6%
Return on equity13.1%17.0%20.1%20.0%18.2%18.3%18.2%15.7%18.7%18.8%18.4%15.8%15.4%16.2%16.2%15.0%14.6%14.6%
Return on assets6.3%8.0%9.4%9.7%9.3%9.5%9.0%7.4%9.1%9.5%9.3%8.6%8.9%9.5%9.6%9.3%9.6%8.5%
Asset turnover0.650.700.730.700.650.650.610.560.580.590.560.450.500.510.480.470.480.43
Current ratio2.281.771.681.321.571.691.582.091.701.461.422.341.361.620.981.241.061.43
Debt to equity66.5%65.8%61.6%57.3%45.1%52.9%59.5%71.9%54.0%62.1%54.1%40.6%37.0%31.9%38.0%21.5%21.5%57.0%
Interest cover (operating income ÷ interest)5.3x7.1x9.1x9.9x11.1x11.2x9.9x8.4x9.2x13.1x13.3x11.9x16.3x18.0x20.9x15.8x23.5x18.8x
Effective tax rate30.2%30.1%30.9%30.7%28.7%27.4%26.7%26.1%14.5%21.2%19.5%19.4%19.1%18.8%18.3%17.2%17.7%17.7%
R&D as % of revenue2.4%2.3%2.6%2.5%2.6%3.0%2.9%2.9%3.0%2.9%3.1%3.5%3.5%3.2%3.3%3.4%3.2%—
SG&A as % of revenue12.1%12.0%11.7%11.4%11.1%11.5%11.3%12.1%12.4%12.1%11.8%11.4%10.9%10.5%10.3%10.0%10.2%10.4%
Capital spending as % of revenue1.6%1.6%1.7%1.7%1.8%1.8%1.7%1.6%1.7%1.7%2.0%1.6%2.0%2.3%2.1%1.8%1.8%1.8%
Free cash flow ÷ net income161.2%135.2%119.1%120.9%115.5%112.0%102.1%135.4%111.3%108.4%117.5%138.3%106.0%87.1%121.8%123.7%112.9%118.5%
Dividends ÷ net income12.4%10.1%10.0%11.6%11.3%13.8%14.6%16.3%12.1%16.6%14.8%18.9%18.6%17.4%17.5%18.8%19.3%18.7%
Dividends and buybacks ÷ free cash flow7.7%27.9%21.3%10.4%11.2%49.8%86.4%60.5%11.8%58.9%13.8%14.1%19.0%53.0%14.9%27.7%43.0%31.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $22.4bn
Short-term assets $3.8bnLonger-term assets $18.6bn
What it owes, and who funded it · $22.4bn
Short-term liabilities $2.6bnLonger-term liabilities $8.1bnShareholders' equity $11.7bn
  • Short-term assets cover short-term liabilities $3.8bn of assets due within a year against $2.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.8bn short-term assets against $8.1bn of longer-dated liabilities.
  • More cash than debt $666m of cash against $6.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 57% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 32% to 57% over five years.
  • A year's operating cash flow covers at least 20% of debt $2.1bn of operating cash flow against $6.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $2.1bn against $114m of interest.

From Ametek's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

81 /100

Strong moat

How hard Ametek's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 14 / 20

    Cash operating profit has been a median 11.0% of total assets over 9 years.

  • Pricing power 13 / 20

    Gross margin has been a median 34.9%, moving by 0.9 percentage points (standard deviation) across 9 years.

  • Durability 18 / 20

    Operating margin has been a median 24.0%; its worst year was 20.6%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 22.2% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 1.1% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: AME vs ROKAME vs RRXAME vs NVTAME vs VRT

More: Electrical Components & Equipment stocks compared, Industrials sector, rankings of US companies

Figures from Ametek's SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ametek.