AMETEK Announces Record Fourth Quarter and Full Year Results

AMETEK, Inc. (NYSE: AME) today announced its financial results for the fourth quarter ended December 31, 2025.

AMETEK's fourth quarter 2025 sales were a record $2.0 billion, a 13% increase over the fourth quarter of 2024. On a GAAP basis, fourth quarter earnings were a record $1.73 per diluted share. Adjusted earnings in the quarter were a record $2.01 per diluted share, up 7% from the fourth quarter of 2024. Adjusted earnings adds back non-cash, after-tax, acquisition-related intangible amortization of $0.22 per diluted share and excludes acquisition-related pre-tax costs of $17.6 million, or $0.06 per diluted share, for the Faro Technologies acquisition.

GAAP operating income was a record $505.5 million. Adjusted operating income was a record $523.0 million, up 12% versus last year's fourth quarter. Operating cash flow in the quarter was a record $584.3 million, free cash flow was a record $527.3 million, and free cash flow to net income conversion was 132%.

“AMETEK's fourth quarter and full year results were outstanding,” stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. “Contributions from strong organic sales growth, recent acquisitions, and tremendous operating performance, led to excellent core margin expansion and impressive cash flow conversion. These record results reflect the proven strength and durability of our operating model and the outstanding contributions from our colleagues.”

For the full year, sales were $7.4 billion, an increase of 7% over 2024. On a GAAP basis, full year 2025 earnings per diluted share were $6.40. Full year adjusted earnings were $7.43 per diluted share, up 9% versus the prior year. Adjusted earnings for the full year adds back non-cash, after-tax acquisition-related intangible amortization of $0.91 per diluted share and excludes acquisition-related pre-tax costs of $37.3 million, or $0.12 per diluted share.

Full year GAAP operating income was $1.91 billion. Full year adjusted operating income was $1.94 billion, up 7% versus last year, with 26.2% adjusted operating margins. AMETEK established annual records for sales, operating profit, operating margin, EBITDA, EBITDA margin, and both GAAP and adjusted earnings per share.

A reconciliation of reported GAAP results to adjusted results is included in the financial tables accompanying this release and on the AMETEK website.

Electronic Instruments Group (EIG)EIG sales in the fourth quarter were a record $1.37 billion, an increase of 13% over the same period in 2024. On a GAAP basis, EIG's fourth quarter operating income was a record $396.1 million, or 28.9% of sales. Adjusted EIG operating income was a record $413.7 million, up 7% from the prior year.

“EIG delivered excellent results in the fourth quarter,” commented Mr. Zapico. “The double-digit sales growth was driven by positive organic sales growth and contributions from recent acquisitions. EIG delivered strong operating performance in the quarter resulting in record operating income and 50 basis points of core margin expansion.”

Electromechanical Group (EMG)EMG sales in the fourth quarter were $628.9 million, up 15% from the fourth quarter of 2024. EMG's fourth quarter operating income increased 28% to $142.5 million, and operating income margins were 22.7% in the quarter, up 240 basis points versus the prior year's results.

“EMG performed exceptionally well in the fourth quarter to complete an outstanding year. Sales growth was broad based with double digit organic sales growth in each EMG division resulting in robust profit growth and sizeable margin expansion,” noted Mr. Zapico.

2026 Outlook”Our businesses delivered excellent results in 2025. This success highlights the strength of the AMETEK Growth Model, the quality of our niche, differentiated businesses, and the attractiveness of our markets. We enter 2026 with a record backlog, improving end market dynamics, and significant financial flexibility to support both our organic growth initiatives and to deploy capital on strategic acquisitions, driving continued long-term value creation.”

“For 2026, we expect overall sales to be up mid to high single digits compared to 2025. Adjusted earnings per diluted share are expected to be in the range of $7.87 to $8.07, up 6% to 9% over the comparable basis for 2025.

“For the first quarter of 2026, overall sales are expected to be up approximately 10% compared to the same period last year. Adjusted earnings in the quarter are anticipated to be in the range of $1.85 to $1.90 per share, up 6% to 9% compared to the first quarter of 2025,” concluded Mr. Zapico.

Conference CallAMETEK will webcast its fourth quarter 2025 investor conference call on Tuesday, February 3, 2026, beginning at 8:30 AM ET. The live audio webcast will be available and later archived in the Investors section of www.ametek.com.

About AMETEKAMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annual sales of approximately $7.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies – Operational Excellence, Technology Innovation, Global and Market Expansion, and Strategic Acquisitions – with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 95 years and is a component of the S&P 500. For more information, visit www.ametek.com.

Forward-looking InformationStatements in this news release relating to future events, such as AMETEK's expected business and financial performance, are “forward-looking statements.” Forward-looking statements are subject to various factors and uncertainties that may cause actual results to differ materially from expectations. These factors and uncertainties include risks related to AMETEK's ability to consummate and successfully integrate future acquisitions; risks with international sales and operations, including supply chain disruptions, tariffs, trade disputes and currency conditions; AMETEK's ability to successfully develop new products, open new facilities or transfer product lines; the price and availability of raw materials; compliance with government regulations, including environmental regulations; changes in the competitive environment or the effects of competition in our markets; the ability to maintain adequate liquidity and financing sources; and general economic conditions affecting the industries we serve. A detailed discussion of these and other factors that may affect our future results is contained in AMETEK's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Forms 10-K, 10-Q and 8-K. AMETEK disclaims any intention or obligation to update or revise any forward-looking statements.

Contact:Kevin ColemanVice President, Investor Relations and Treasurerkevin.coleman@ametek.comPhone: 610.889.5247

AMETEK, Inc. Consolidated Statement of Income (In thousands, except per share amounts) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 Net sales $1,998,448 $1,761,602 $7,401,116 $6,941,180 Cost of sales 1,278,034 1,116,853 4,733,677 4,464,713 Selling, general and administrative 214,932 175,768 757,122 696,905 Total operating expenses 1,492,966 1,292,621 5,490,799 5,161,618 Operating income 505,482 468,981 1,910,317 1,779,562 Interest expense (22,890) (22,000) (81,254) (112,962) Other (expense) income, net (8,609) (2,626) (30,724) (5,061) Income before income taxes 473,983 444,355 1,798,339 1,661,539 Provision for income taxes 75,382 57,098 318,197 285,415 Net income $398,601 $387,257 $1,480,142 $1,376,124 Diluted earnings per share $1.73 $1.67 $6.40 $5.93 Basic earnings per share $1.74 $1.68 $6.42 $5.95 Weighted average common shares outstanding: Diluted shares 230,351 232,107 231,259 232,168 Basic shares 229,590 231,149 230,452 231,256 Dividends per share $0.31 $0.28 $1.24 $1.12

AMETEK, Inc. Information by Business Segment (In thousands) (Unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2025 2024 2025 2024 Net sales: Electronic Instruments $1,369,524 $1,214,935 $4,919,100 $4,659,915 Electromechanical 628,924 546,667 2,482,016 2,281,265 Consolidated net sales $1,998,448 $1,761,602 $7,401,116 $6,941,180 Operating income: Segment operating income: Electronic Instruments $396,142 $386,649 $1,447,057 $1,428,409 Electromechanical 142,457 111,189 578,938 456,501 Total segment operating income 538,599 497,838 2,025,995 1,884,910 Corporate administrative expenses (33,117) (28,857) (115,678) (105,348) Consolidated operating income $505,482 $468,981 $1,910,317 $1,779,562

AMETEK, Inc. Condensed Consolidated Balance Sheet (In thousands) December 31, December 31, 2025 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $457,951 $373,999 Receivables, net 1,119,257 948,830 Inventories, net 1,106,405 1,021,713 Other current assets 336,229 258,490 Total current assets 3,019,842 2,603,032 Property, plant and equipment, net 855,215 818,611 Right of use assets, net 273,142 235,666 Goodwill 7,170,770 6,555,877 Other intangibles, investments and other assets 4,748,574 4,417,983 Total assets $16,067,543 $14,631,169 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term borrowings and current portion of long-term debt, net $1,208,975 $654,346 Accounts payable and accruals 1,633,777 1,444,241 Total current liabilities 2,842,752 2,098,587 Long-term debt, net 1,074,334 1,425,375 Deferred income taxes and other long-term liabilities 1,521,671 1,451,903 Stockholders' equity 10,628,786 9,655,304 Total liabilities and stockholders' equity $16,067,543 $14,631,169

AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (In thousands, except per share amounts) (Unaudited) Three Months Ended December 31, 2025 2024 Change EIG Segment operating income (GAAP) $396,142 $386,649 Acquisition-related costs(1) 17,551 Adjusted EIG Segment operating income (Non-GAAP) $413,693 $386,649 EIG Segment operating margin (GAAP) 28.9 % 31.8 % Acquisition-related costs(1) 1.3 % – % Dilutive impact of acquisitions and foreign exchange(2) 2.1 % – % Adjusted EIG Segment operating margin (Non-GAAP) 32.3 % 31.8 % 0.5 % Operating income (GAAP) $505,482 $468,981 Acquisition-related costs(1) 17,551 Adjusted Operating income (Non-GAAP) $523,033 $468,981 Diluted earnings per share (GAAP) $1.73 $1.67 Acquisition-related costs(1) 0.08 Income tax benefit on acquisition-related costs(1) (0.02) Pretax amortization of acquisition-related intangible assets 0.29 0.27 Income tax benefit on amortization of acquisition-related intangible assets (0.07) (0.07) Adjusted Diluted earnings per share (Non-GAAP) $2.01 $1.87 Cash provided by operating activities (GAAP) $584,263 $550,017 Deduct: Capital expenditures (56,997) (51,725) Free cash flow (Non-GAAP) $527,266 $498,292 Free cash flow conversion (Non-GAAP) 132 % 129 %

______________________ (1) – Acquisition-related costs are comprised of integration costs recorded in Cost of Sales and transaction costs unique to completed business combinations recorded in Other (Expense) Income, net. (2) – Operating income margins adjusted for dilutive impact from acquisitions completed in the last twelve months and the foreign exchange impact.

AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (In thousands, except per share amounts) (Unaudited) Twelve Months Ended December 31, 2025 2024 Operating income (GAAP) $1,910,317 $1,779,562 Acquisition-related costs(1) 25,301 29,231 Adjusted Operating income (Non-GAAP) $1,935,618 $1,808,793 Operating income margin (GAAP) 25.8 % 25.6 % Acquisition-related costs(1) 0.4 % 0.5 % Adjusted Operating income margin (Non-GAAP) 26.2 % 26.1 % Other (expense) income, net $(30,724) $(5,061) Acquisition-related costs(1) 11,992 Adjusted Other (expense) income, net $(18,732) $(5,061) Diluted earnings per share (GAAP) $6.40 $5.93 Acquisition-related costs(1) 0.16 0.13 Income tax benefit on acquisition-related costs(1) (0.04) (0.03) Pretax amortization of acquisition-related intangible assets 1.20 1.07 Income tax benefit on amortization of acquisition-related intangible assets (0.29) (0.26) Rounding – (0.01) Adjusted Diluted earnings per share (Non-GAAP) $7.43 $6.83

AMETEK, Inc. Reconciliations of GAAP to Non-GAAP Financial Measures (Unaudited) Forecasted Diluted Earnings Per Share Three Months Ended Year Ended March 31, 2026 December 31, 2026 Low High Low High Diluted earnings per share (GAAP) $1.62 $1.67 $6.96 $7.16 Pretax amortization of acquisition-related intangible assets(1) 0.30 0.30 1.20 1.20 Income tax benefit on amortization of acquisition-related intangible assets (0.07) (0.07) (0.29) (0.29) Adjusted Diluted earnings per share (Non-GAAP) $1.85 $1.90 $7.87 $8.07

Use of Non-GAAP Financial Information

The Company supplements its consolidated financial statements presented on a U.S. generally accepted accounting principles (“GAAP”) basis with certain non-GAAP financial information to provide investors with greater insight, increased transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial tables. These non-GAAP financial measures should be considered in addition to, and not as a replacement for, or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.

The non-GAAP financial measures referenced in this press release include adjusted operating income, adjusted operating margin, and adjusted earnings per share. These measures are adjusted to exclude items that management does not consider indicative of AMETEK's ongoing operational performance, such as after-tax acquisition-related intangible amortization and one-time acquisition-related costs (including transaction related costs, purchase accounting adjustments, and integration related costs).

In providing forward-looking guidance for quarterly and full-year GAAP and non-GAAP measures, the Company has not included adjustments, such as acquisition-related costs, whose timing and/or magnitude are contingent on future events.

The Company believes that these measures provide useful information to investors by reflecting additional ways of viewing AMETEK's operations that, when reconciled to the comparable GAAP measure, helps our investors to better understand the long-term profitability trends of our business, and facilitates easier comparisons of our profitability to prior and future periods and to our peers.

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SOURCE AMETEK, Inc.

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