Latest Ratios: P/E Ratio 36.2x · EV/EBITDA 29.2x · ROE 14.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $53.1B | $47.5B | $41.9B | $38.2B | $32.4B | $34.2B | $28.0B | $22.9B | $15.8B | $16.8B | $11.4B |
| Enterprise Value | $54.9B | $49.3B | $43.8B | $41.1B | $34.6B | $36.6B | $29.2B | $25.3B | $18.0B | $18.3B | $13.0B |
| P/E Ratio → | 36.20 | 32.08 | 30.40 | 29.08 | 27.89 | 34.60 | 32.08 | 26.60 | 20.27 | 24.65 | 22.19 |
| P/S Ratio | 7.17 | 6.42 | 6.03 | 5.79 | 5.26 | 6.17 | 6.16 | 4.44 | 3.25 | 3.91 | 2.96 |
| P/B Ratio | 5.04 | 4.47 | 4.33 | 4.37 | 4.33 | 4.98 | 4.70 | 4.47 | 3.71 | 4.17 | 3.49 |
| P/FCF | 31.75 | 28.41 | 24.59 | 23.87 | 32.02 | 32.61 | 23.17 | 22.61 | 18.68 | 22.16 | 16.38 |
| P/OCF | 29.46 | 26.35 | 22.88 | 22.00 | 28.15 | 29.50 | 21.82 | 20.53 | 17.02 | 20.16 | 15.01 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.66 | 6.31 | 6.24 | 5.62 | 6.60 | 6.43 | 4.90 | 3.72 | 4.26 | 3.38 |
| EV / EBITDA | 29.21 | 26.23 | 20.25 | 20.12 | 18.99 | 22.87 | 22.76 | 17.92 | 14.14 | 16.87 | 13.38 |
| EV / EBIT | 28.36 | 26.23 | 24.68 | 24.37 | 22.86 | 28.08 | 24.99 | 21.84 | 16.85 | 20.49 | 16.49 |
| EV / FCF | — | 29.50 | 25.74 | 25.73 | 34.21 | 34.87 | 24.20 | 25.00 | 21.38 | 24.18 | 18.72 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4% | 36.4% | 35.7% | 36.1% | 34.9% | 34.5% | 34.0% | 34.7% | 34.2% | 33.5% | 32.7% |
| Operating Margin | 26.2% | 26.2% | 25.6% | 25.9% | 24.4% | 23.6% | 22.6% | 22.8% | 22.2% | 21.0% | 20.6% |
| Net Profit Margin | 20.0% | 20.0% | 19.8% | 19.9% | 18.9% | 17.8% | 19.2% | 16.7% | 16.1% | 15.8% | 13.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.6% | 14.6% | 15.0% | 16.2% | 16.2% | 15.4% | 15.8% | 18.4% | 18.8% | 18.7% | 15.7% |
| ROA | 9.6% | 9.6% | 9.3% | 9.6% | 9.5% | 8.9% | 8.6% | 9.3% | 9.5% | 9.1% | 7.4% |
| ROIC | 12.1% | 12.1% | 11.5% | 12.0% | 11.9% | 11.9% | 10.5% | 12.6% | 13.4% | 13.0% | 12.2% |
| ROCE | 15.0% | 15.0% | 14.4% | 14.8% | 14.2% | 13.3% | 11.6% | 14.9% | 15.3% | 14.1% | 13.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.21 | 0.21 | 0.24 | 0.39 | 0.34 | 0.40 | 0.41 | 0.55 | 0.62 | 0.54 | 0.72 |
| Debt / EBITDA | 1.21 | 1.21 | 1.07 | 1.65 | 1.41 | 1.70 | 1.92 | 1.99 | 2.06 | 2.00 | 2.41 |
| Net Debt / Equity | — | 0.17 | 0.20 | 0.34 | 0.30 | 0.35 | 0.21 | 0.47 | 0.54 | 0.38 | 0.50 |
| Net Debt / EBITDA | 0.97 | 0.97 | 0.90 | 1.45 | 1.22 | 1.48 | 0.97 | 1.71 | 1.79 | 1.41 | 1.67 |
| Debt / FCF | — | 1.09 | 1.15 | 1.85 | 2.19 | 2.26 | 1.03 | 2.39 | 2.70 | 2.02 | 2.34 |
| Interest Coverage | 23.13 | 23.13 | 15.71 | 20.64 | 18.17 | 16.22 | 13.58 | 13.09 | 13.02 | 9.13 | 8.35 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.06 | 1.06 | 1.24 | 0.98 | 1.62 | 1.36 | 2.34 | 1.42 | 1.46 | 1.70 | 2.09 |
| Quick Ratio | 0.67 | 0.67 | 0.75 | 0.59 | 0.95 | 0.87 | 1.82 | 0.98 | 0.96 | 1.22 | 1.55 |
| Cash Ratio | 0.16 | 0.16 | 0.18 | 0.14 | 0.22 | 0.22 | 1.13 | 0.28 | 0.28 | 0.57 | 0.78 |
| Asset Turnover | — | 0.46 | 0.47 | 0.44 | 0.49 | 0.47 | 0.44 | 0.52 | 0.56 | 0.55 | 0.54 |
| Inventory Turnover | 4.26 | 4.26 | 4.37 | 3.72 | 3.84 | 4.72 | 5.36 | 5.40 | 5.10 | 5.29 | 5.25 |
| Days Sales Outstanding | — | 55.20 | 49.89 | 56.04 | 54.56 | 54.57 | 48.03 | 52.70 | 55.20 | 56.72 | 56.30 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.5% | 0.6% | 0.6% | 0.6% | 0.6% | 0.5% | 0.6% | 0.6% | 0.8% | 0.5% | 0.7% |
| Payout Ratio | 19.3% | 19.3% | 18.8% | 17.5% | 17.4% | 18.6% | 18.9% | 14.8% | 16.6% | 12.1% | 16.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 3.1% | 3.3% | 3.4% | 3.6% | 2.9% | 3.1% | 3.8% | 4.9% | 4.1% | 4.5% |
| FCF Yield | 3.1% | 3.5% | 4.1% | 4.2% | 3.1% | 3.1% | 4.3% | 4.4% | 5.4% | 4.5% | 6.1% |
| Buyback Yield | 0.8% | 0.9% | 0.5% | 0.0% | 1.0% | 0.0% | 0.0% | 0.1% | 2.3% | 0.0% | 3.0% |
| Total Shareholder Yield | 1.4% | 1.5% | 1.1% | 0.6% | 1.7% | 0.6% | 0.6% | 0.6% | 3.2% | 0.5% | 3.7% |
| Shares Outstanding | — | $231M | $232M | $232M | $232M | $233M | $231M | $229M | $233M | $232M | $234M |
M&A Integration Execution Risk
Based on current market data, AMETEK trades at a P/E of 37.11, which, as noted in recent financial reports, implies a significant premium over traditional industrial peers, reflecting investor confidence in the company's ability to consistently execute its niche-dominance strategy and deliver sustained organic growth.
The forward P/E of 29.17 suggests that the market anticipates continued earnings expansion, though the PEG ratio of 3.32 indicates that this growth is priced at a premium relative to near-term expectations. Investors should monitor whether this valuation multiple remains sustainable if the pace of accretive M&A slows or if industrial cycle sensitivity increases.
As reported in historical financial statements, AMETEK's ROIC has remained stable near 3% over the last ten quarters, a figure that, while appearing modest, must be interpreted in the context of a serial acquirer carrying significant goodwill on its balance sheet from ongoing integration activities.
The company's ability to maintain consistent returns despite a heavy M&A-driven asset base suggests effective operational integration of acquired units. Analysts should distinguish between this accounting-depressed ROIC and the underlying cash-on-cash returns generated by the individual niche businesses within the EIG and EMG segments.
According to recent quarterly filings, AMETEK's cash conversion cycle has fluctuated, with a 2026Q1 reading of 15 days, demonstrating a lean approach to inventory and receivables management that appears superior to many peers in the broader industrial machinery sector.
The low DSO and controlled DIO levels suggest that the company maintains strong leverage over its supply chain and customer base, likely due to the mission-critical nature of its specialized components. This efficiency is a key driver of the company's ability to self-fund its M&A pipeline without excessive reliance on external financing.
Based on the provided financial figures, AMETEK's debt-to-equity ratio of 0.20 in 2026Q1 highlights an exceptionally conservative capital structure, providing the firm with significant financial flexibility to pursue large-scale acquisitions or capital returns even in a high-interest-rate environment that may constrain more leveraged industrial competitors.
The interest coverage ratio, consistently exceeding 20x, confirms that debt service remains highly comfortable and poses minimal risk to the company's operational stability. This balance sheet strength serves as a strategic moat, allowing management to remain opportunistic in the mid-market industrial M&A space.
The P/E ratio is frequently misapplied to AMETEK, as it fails to account for the significant non-cash amortization of acquired intangibles that, according to financial disclosures, artificially depresses GAAP earnings and obscures the true cash-generating power of the company's decentralized niche-dominance business model.
Investors should instead prioritize EV/EBITDA or P/FCF metrics to better evaluate the company's performance, as these ratios provide a clearer view of the underlying operational cash flow. Relying solely on P/E may lead to an incorrect assessment of the company's valuation relative to its actual economic performance.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying AME stock.
AMETEK, Inc.'s current P/E ratio is 36.2x. The historical average is 21.7x. This places it at the 100th percentile of its historical range.
AMETEK, Inc.'s current EV/EBITDA is 29.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.6x.
AMETEK, Inc.'s return on equity (ROE) is 14.6%. The historical average is 20.6%.
Based on historical data, AMETEK, Inc. is trading at a P/E of 36.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
AMETEK, Inc.'s current dividend yield is 0.53% with a payout ratio of 19.3%.
AMETEK, Inc. has 36.4% gross margin and 26.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
AMETEK, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.