Latest Ratios: P/E Ratio 30.7x · EV/EBITDA 22.9x · ROE N/A. (1997–2025 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 | $26.2B | $28.7B | $26.1B | $26.7B | $32.8B | $39.8B | $27.6B | $19.8B | $14.6B | $16.4B | $11.3B |
| Enterprise Value | $28.5B | $31.0B | $28.2B | $28.8B | $34.9B | $41.5B | $28.8B | $20.9B | $15.4B | $17.2B | $12.0B |
| P/E Ratio → | 30.72 | 33.06 | 30.09 | 33.79 | 37.63 | 51.78 | 45.75 | 35.30 | 28.45 | 43.51 | 29.43 |
| P/S Ratio | 6.50 | 7.14 | 6.74 | 7.03 | 8.38 | 10.71 | 8.94 | 6.58 | 4.97 | 6.00 | 4.51 |
| P/B Ratio | — | — | — | — | 1324.49 | 232.25 | 97.57 | 47.08 | 24.71 | 29.88 | 26.01 |
| P/FCF | 30.85 | 33.86 | 30.18 | 30.97 | 44.51 | 49.69 | 43.62 | 39.15 | 34.53 | 42.05 | 35.44 |
| P/OCF | 27.39 | 30.06 | 26.94 | 27.59 | 38.23 | 43.81 | 38.06 | 32.83 | 25.81 | 31.67 | 25.53 |
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 | — | 7.70 | 7.27 | 7.60 | 8.90 | 11.17 | 9.34 | 6.95 | 5.26 | 6.31 | 4.80 |
| EV / EBITDA | 22.87 | 24.93 | 22.52 | 23.96 | 28.14 | 37.65 | 32.65 | 25.57 | 20.11 | 25.05 | 19.78 |
| EV / EBIT | 25.44 | 27.96 | 25.59 | 27.10 | 30.85 | 41.86 | 36.61 | 28.89 | 22.51 | 28.23 | 22.68 |
| EV / FCF | — | 36.54 | 32.58 | 33.44 | 47.26 | 51.81 | 45.59 | 41.29 | 36.56 | 44.18 | 37.75 |
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 | 57.5% | 57.5% | 58.2% | 57.3% | 57.2% | 56.7% | 56.5% | 56.2% | 55.8% | 56.3% | 55.5% |
| Operating Margin | 27.8% | 27.8% | 29.1% | 28.5% | 28.7% | 26.8% | 25.4% | 24.2% | 23.3% | 22.4% | 21.5% |
| Net Profit Margin | 21.6% | 21.6% | 22.3% | 20.8% | 22.3% | 20.7% | 19.5% | 18.6% | 17.5% | 13.8% | 15.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | 889.3% | 338.7% | 171.4% | 111.0% | 90.1% | 76.6% | 75.7% |
| ROA | 25.0% | 25.0% | 26.2% | 23.0% | 25.6% | 25.0% | 21.5% | 20.8% | 19.8% | 15.9% | 18.6% |
| ROIC | 40.0% | 40.0% | 43.1% | 40.1% | 42.9% | 43.9% | 38.9% | 37.0% | 36.3% | 35.9% | 36.1% |
| ROCE | 48.8% | 48.8% | 53.1% | 47.8% | 49.8% | 47.9% | 39.1% | 37.2% | 36.5% | 35.5% | 36.2% |
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 | — | — | — | — | 85.94 | 10.51 | 4.72 | 3.07 | 1.75 | 1.79 | 2.06 |
| Debt / EBITDA | 1.88 | 1.88 | 1.70 | 1.83 | 1.72 | 1.63 | 1.51 | 1.58 | 1.35 | 1.43 | 1.47 |
| Net Debt / Equity | — | — | — | — | 82.07 | 9.93 | 4.39 | 2.57 | 1.45 | 1.52 | 1.69 |
| Net Debt / EBITDA | 1.83 | 1.83 | 1.66 | 1.77 | 1.64 | 1.54 | 1.40 | 1.33 | 1.12 | 1.21 | 1.21 |
| Debt / FCF | — | 2.68 | 2.40 | 2.47 | 2.76 | 2.12 | 1.96 | 2.14 | 2.03 | 2.14 | 2.30 |
| Interest Coverage | 16.19 | 16.19 | 14.75 | 13.73 | 20.41 | 22.94 | 20.39 | 19.33 | 19.87 | 18.57 | 18.95 |
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 | 1.14 | 1.14 | 1.02 | 1.04 | 1.20 | 1.11 | 1.26 | 1.47 | 1.42 | 1.46 | 1.53 |
| Quick Ratio | 0.81 | 0.81 | 0.73 | 0.71 | 0.81 | 0.75 | 0.90 | 1.11 | 1.06 | 1.09 | 1.15 |
| Cash Ratio | 0.06 | 0.06 | 0.05 | 0.06 | 0.08 | 0.09 | 0.11 | 0.28 | 0.24 | 0.22 | 0.27 |
| Asset Turnover | — | 1.08 | 1.20 | 1.13 | 1.12 | 1.12 | 1.10 | 1.08 | 1.12 | 1.07 | 1.16 |
| Inventory Turnover | 4.42 | 4.42 | 4.73 | 4.20 | 3.80 | 3.88 | 4.51 | 4.80 | 4.83 | 4.67 | 5.02 |
| Days Sales Outstanding | — | 70.55 | 64.77 | 63.97 | 66.05 | 63.55 | 70.25 | 68.70 | 66.59 | 70.80 | 66.21 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 3.0% | 3.3% | 3.0% | 2.7% | 1.9% | 2.2% | 2.8% | 3.5% | 2.3% | 3.4% |
| FCF Yield | 3.2% | 3.0% | 3.3% | 3.2% | 2.2% | 2.0% | 2.3% | 2.6% | 2.9% | 2.4% | 2.8% |
| Buyback Yield | 3.1% | 2.8% | 3.3% | 3.4% | 3.3% | 2.5% | 2.8% | 3.9% | 3.3% | 2.4% | 4.4% |
| Total Shareholder Yield | 3.1% | 2.8% | 3.3% | 3.4% | 3.3% | 2.5% | 2.8% | 3.9% | 3.3% | 2.4% | 4.4% |
| Shares Outstanding | — | $21M | $21M | $22M | $23M | $23M | $24M | $25M | $26M | $26M | $27M |
Aggressive capital allocation dependency
According to current market data, MTD trades at a forward P/E of 27.08, which appears elevated given the recent 3.98% revenue growth deceleration and a PEG ratio of 2.70, suggesting that investors are pricing in a recovery that may not materialize under current macroeconomic conditions.
The valuation premium relative to diversified industrial peers reflects the market's historical appreciation for MTD's high-margin, regulated laboratory niche. However, the current multiple warrants caution as the company's growth trajectory has cooled, potentially indicating that the market is overestimating the sustainability of historical earnings expansion.
Based on reported financial statements, MTD's ROIC has fluctuated between 8.4% and 13.2% over the last ten quarters, indicating that while the company maintains strong operational margins, its ability to compound returns on invested capital is increasingly constrained by a shrinking equity base.
The volatility in ROIC suggests that the company's internal efficiency initiatives are struggling to offset the impact of aggressive capital deployment. Investors should monitor whether these returns can remain competitive with peers like Waters Corporation, which maintains a higher ROIC profile despite different operational structures.
As reported in recent quarterly filings, the cash conversion cycle has extended to 105 days in 2026Q1, driven by rising inventory days of 91, which suggests that MTD is facing increasing friction in its supply chain and inventory management compared to historical norms.
The lengthening of the cash conversion cycle indicates that the company's working capital efficiency is deteriorating, potentially tying up cash that would otherwise support liquidity. This trend warrants further investigation into whether the inventory buildup is a strategic buffer or a sign of slowing demand in key industrial segments.
Based on the provided quarterly data, MTD's interest coverage ratio has declined to 14.48x in 2026Q1 from a peak of 19.82x, reflecting a tightening margin of safety as the company continues to utilize debt to fund its ongoing share repurchase program.
While the current interest coverage remains technically adequate, the downward trend suggests that the company's reliance on debt is becoming more sensitive to interest rate fluctuations. The lack of a positive equity cushion makes the company's leverage profile appear more vulnerable than its headline coverage ratios might imply.
The P/E ratio is frequently misapplied to MTD because it fails to account for the company's persistent negative equity position, which artificially inflates EPS through aggressive share repurchases rather than reflecting true organic earnings growth or sustainable capital reinvestment.
Analysts should prioritize EV/EBITDA or FCF yield over P/E to better assess the company's operational performance without the distortion of financial engineering. Relying on P/E obscures the underlying fragility of a balance sheet that lacks the traditional equity base to support long-term valuation premiums.
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying MTD stock.
Mettler-Toledo International Inc.'s current P/E ratio is 30.7x. The historical average is 28.2x. This places it at the 64th percentile of its historical range.
Mettler-Toledo International Inc.'s current EV/EBITDA is 22.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.5x.
Based on historical data, Mettler-Toledo International Inc. is trading at a P/E of 30.7x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mettler-Toledo International Inc. has 57.5% gross margin and 27.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Mettler-Toledo International Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.