Mettler-Toledo International Inc.
MTD 6.5Price and target zones价格与目标区间
What the company does公司做什么
Mettler-Toledo International Inc. manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other Operations.
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Mettler-Toledo International Inc. manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other Operations. The company offers laboratory instruments, such as laboratory balances, liquid pipetting solutions, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, density and refractometry instruments, and thermal analysis systems; and other analytical instruments, including UV/VIS spectrophotometers, moisture analyzers, and cell counters, as well as LabX, a laboratory software platform to manage and analyze data generated by its instruments and automate workflows. It also provides industrial instruments comprising industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detectors, x-ray systems, checkweighers, and camera-based imaging equipment. In addition, the company offers retail weighing solutions consisting of weighing and software solutions, AI-driven image recognition solutions for fresh goods, and automated packaging and labeling solutions for the meat backroom. The company serves pharmaceutical and biotech companies, independent research organizations, and testing labs; food manufacturers and retailers; chemical, specialty chemicals, and cosmetics companies; transportation and logistics, metals, and electronics industries; and academic community through its direct sales force and indirect distribution channels. Mettler-Toledo International Inc. was incorporated in 1991 and is headquartered in Greifensee, Switzerland.
Products and services产品与服务 from the vendor summary — not yet written up来自供应商简介——尚未整理成文
- Food manufacturers and retailers
- Chemical, specialty chemicals, and cosmetics companies
- Transportation and logistics, metals, and electronics industries
- Academic community through its direct sales force and indirect distribution channels
Company facts公司资料
- Founded成立时间
- 1991
- Headquarters总部
- Greifensee, Switzerland
- Employees员工人数
- 16,600
- Industry行业
- Diagnostics & Research
- Country国家
- Switzerland
Investment thesis投资逻辑 from the watchlist来自关注列表
⚪ ANALYZED 9/10 — WATCH (quality > price). Lab/industrial instrument leader, ROIC 42-44%, requalification moat — beats PCTY/IBM on quality but mid-band, not cheap. FV $1,100-1,420, entry $1,050-1,150. Trim 30x fwd.
Red flags
- Flat rev/FCF 3yr, priced for a China/pharma reaccel; chronic negative equity (buyback)
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Revenue growth营收增长
- +4%
Competitive advantages竞争优势 from the thesis and the reports来自投资逻辑和报告
- Lab/industrial instrument leader, ROIC 42-44%, requalification moat — beats PCTY/IBM on quality but mid-band, not cheap.
- Moat - Quantitative base: ROIC (roic.ai, invested-capital basis) 41.7% (2025), down from 43.9% (2024) — best-in-class by a wide margin, ROA 25%, return on capital 46%.
- Revenue-stream map: instruments (balances, pipettes, process analytics, product inspection) sold with high switching costs into regulated (GxP) pharma/lab environments , where re-validating a new instrument is itself a costly, auditable process.
- Service + consumables have grown from ~high-teens to ~24–25% of revenue over the past decade (sources vary 22–35% depending on definition; the consistent recent figure is ~24-25%) — a genuine, growing razor/blade annuity layered on the installed base.
- No rival has displaced MTD's core calibration-critical balance/weighing niche — the compliance/requalification cost is the moat.