# Mettler-Toledo International Inc. (MTD)

> Source: Nexqual · https://nexqual.com/MTD · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Mettler-Toledo International Inc. (MTD), nexqual.com/MTD" · informational, not investment advice.

**Price:** USD 1,684.64 (+0.40% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 1,677.94 · day 1,666.13–1,713.39 · 52w 1,023.05–1,713.39 · market cap $33.8B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.13B, net income $906M (21.9% margin), free cash flow $864M (SEC filings).
- Valuation: P/E 37.3x (avg 32.4x at the last 3 fiscal year-ends), net debt $2.06B.
- 2 of 80 tracked superinvestors hold MTD (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $6.1M; 5 not under a Rule 10b5-1 plan ($6.1M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +17.2% vs S&P 500 +14.9%; 5Y +14.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 12.09, revenue estimate $1.07B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.72B | $3.92B | $3.79B | $3.87B | $4.03B | $4.13B |
| Gross profit | $2.17B | $2.31B | $2.24B | $2.33B | $2.39B | — |
| Net income | $769M | $873M | $789M | $863M | $869M | $906M |
| EPS (diluted) | $32.78 | $38.41 | $35.90 | $40.48 | $42.05 | — |
| Free cash flow | $801M | $738M | $861M | $864M | $849M | $864M |
| Gross margin | 58.4% | 58.9% | 59.2% | 60.1% | 59.4% | — |
| Net margin | 20.7% | 22.3% | 20.8% | 22.3% | 21.6% | 21.9% |
| Revenue growth | +20.5% | +5.4% | -3.4% | +2.2% | +4.0% | — |
| Cash + short-term investments | $98.6M | $96.0M | $69.8M | $59.4M | $66.9M | — |
| Total debt | $1.68B | $2.01B | $2.08B | $2.01B | $2.15B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 37.3x · P/S 8.2x · EV/Sales 8.7x · P/FCF 39.1x · P/B 2632.3x · FCF yield 2.56% · Earnings yield 2.68% · Buyback yield (TTM) 2.30% · Net debt $2.06B · EV $35.8B
P/E at fiscal year-ends: Dec 2025 33.2x, Dec 2024 30.2x, Dec 2023 33.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold MTD. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Torray Funds |  | 0.29% | $2.1M | Reduced -0.4% |
| Wallace Weitz | Weitz Investment Management | 0.23% | $3.3M | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-27 | Kaltenbach Patrick | President and CEO | 942 | $1.3M | 17.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-05 | Salice Thomas P | Director | 417 | $601K | 0.8% | No | Too little history (no open-market trades in 2023) |
| 2026-08-03 | Salice Thomas P | Director | 415 | $600K | 0.8% | No | Too little history (no open-market trades in 2023) |
| 2026-08-03 | Keller Gerry | Head of Process Analytics | 240 | $343K | 48.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-03 | Vadala Shawn | Chief Financial Officer | 2,240 | $3.2M | 28.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Morgan Stanley | Target raised | Equal-Weight | $1450 → $1575 |
| 2026-10-07 | Barclays | Target raised | Overweight | $1575 → $1700 |
| 2026-09-02 | Rothschild & Co | Initiated | Sell | $1200 |
| 2026-09-01 | RBC Capital | Initiated | Sector Perform | $1515 |
| 2026-08-04 | Morgan Stanley | Target raised | Equal-Weight | $1275 → $1450 |
| 2026-08-03 | Evercore ISI Group | Target raised | Outperform | $1350 → $1500 |
| 2026-08-03 | Wells Fargo | Target raised | Equal-Weight | $1225 → $1450 |
| 2026-08-03 | Barclays | Target raised | Overweight | $1300 → $1575 |
| 2026-08-03 | Stifel | Target raised | Buy | $1400 → $1600 |
| 2026-07-31 | Jefferies | Target raised | Buy | $1400 → $1580 |
| 2026-07-06 | Evercore ISI Group | Target raised | Outperform | $1300 → $1350 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +17.2% | +14.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +17.2% | +2.8% |
| Volatility (annualized) | 32.0% | 31.4% |
| Max drawdown | -31.9% (Nov 2025→May 2026) | -42.5% (Dec 2021→Oct 2023) |

## Peers (Diagnostics & Research)
ILMN (Illumina, Inc.) USD 269.4 -4.76% · DGX (Quest Diagnostics Incorporated) USD 243.28 +1.82% · LH (Labcorp Holdings Inc.) USD 329.93 +1.91% · IDXX (IDEXX Laboratories, Inc.) USD 566.76 +2.40% · WAT (Waters Corporation) USD 455.59 -0.41% · IQV (IQVIA Holdings, Inc.) USD 278.32 +0.61%

## More
Full page: https://nexqual.com/MTD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| US Operations | $352.5M | 34.3% | -5.4% |
| Western European Operations | $227.0M | 22.1% | +7.1% |
| Other Operations | $204.1M | 19.9% | +9.0% |
| Chinese Operations | $187.2M | 18.2% | +15.6% |
| Swiss Operations | $56.5M | 5.5% | +14.0% |
| Total revenue | $1.03B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $753.0M | 73.3% | +2.6% |
| Laboratory products and services | $552.6M | 53.8% | +2.7% |
| Industrial products and services | $417.7M | 40.7% | +5.8% |
| Service | $274.3M | 26.7% | +10.2% |
| Retail products and services | $57.1M | 5.6% | +12.6% |
| Total revenue | $1.03B | 100% | — |
The lines above cover 200% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $402.3M | 39.2% | -2.8% |
| Us Operations segment Member | $352.5M | 34.3% | -5.4% |
| Asia | $331.3M | 32.2% | +12.3% |
| Europe | $293.7M | 28.6% | +7.2% |
| Western European Operations | $227.0M | 22.1% | +7.1% |
| Other Operations | $204.1M | 19.9% | +9.0% |
| Chinese Operations | $187.2M | 18.2% | +15.6% |
| Swiss Operations segment Member | $56.5M | 5.5% | +14.0% |
| Total revenue | $1.03B | 100% | — |
The lines above cover 200% of total revenue.

## Company outlook (8-K filed 2026-07-30)

- "Based on today's assessment, management anticipates local currency sales for the third quarter of 2026 will increase approximately 4%."
- "Adjusted EPS is forecast to be $12.00 to $12.15, a growth rate of 8% to 9%."
- "For the full year 2026, management anticipates local currency sales will increase approximately 4% to 5% excluding tariff refunds to customers."
- "Adjusted EPS is forecast to be in the range of $47.15 to $47.50, representing growth of approximately 10% to 11%."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $12.09 | $12.06 | +0.3% | $1.07B | 11 |
| Next quarter (ends 2026-12-31) | $14.89 | $14.91 | -0.2% | $1.18B | 10 |
| Current fiscal year (ends 2026-12-31) | $47.35 | $46.66 | +1.5% | $4.24B | 13 |
| Next fiscal year (ends 2027-12-31) | $51.76 | $51.27 | +1.0% | $4.44B | 13 |