Company file · MTD

Mettler Toledo

Other Operations was Mettler Toledo's fastest-growing segment in FY2025, up 6.9%

Revenue rose 4.0% to $4.0B in FY2025, from $3.9B in FY2024. Net income rose 0.7% to $869M. US Operations was the largest segment, at 37% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 6, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Nov 6, 2026) · Data pulled Nov 11, 2026

Key facts

In fiscal 2025, which ended Dec 31, 2025, Mettler Toledo (NYSE: MTD) took in $4.0B of revenue (up 4.0% on fiscal 2024); net income was $869M (up 0.7%). The most recent quarter, ended Sep 30, 2026, brought revenue of $1.1B, up 6.3% year over year, with net income of $246M. US Operations was the biggest single line by segment: 37% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 6, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 6, 2026).

Revenue$4.0BFY2025 · +4.0% vs FY2024

Net income$869MFY2025 · +0.7% vs FY2024

Operating cash flow$956MFY2025 · −1.3% vs FY2024

Cash & equivalents$52Mat Sep 30, 2026 · −21.9% vs FY2025 end

Total debt$2.0Bat Sep 30, 2026 · −6.0% vs FY2025 end

Diluted shares21MFY2025 avg · −3.0% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Feb 6, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed May 8, 2026 · 10-Q filed Jul 31, 2026 · 10-Q filed Nov 6, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
US Operations$1.5B37%+4.7%
Western European Operations$896M22%+4.4%
Other Operations$789M20%+6.9%
Chinese Operations$635M16%+1.0%
Swiss Operations$211M5%−3.5%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: US Operations (37%), Western European Operations (22%), Other Operations (20%) and Chinese Operations (16%), as shares of total revenue. Total revenue was $4.0B.

By segment: three-year mixShare of the total each fiscal year

FY2023

37%21%18%19%

FY2024

37%22%19%16%

FY2025

37%22%20%16%

US OperationsWestern European OperationsOther OperationsChinese OperationsSwiss Operations

Source: 10-K FY2025

By product or service, FY2025

Products$3.0B75%+2.6%

Services$1.0B25%+8.1%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue

$1.1B Q3 2026

$1.0B Q3 2025

6.3% increase

Net income

$246M Q3 2026

$217M Q3 2025

13.1% increase

Source: Mettler Toledo 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026

By segment

US Operations

$390M Q3 2026

$386M Q3 2025

1.2% increase

Western European Operations

$229M Q3 2026

$227M Q3 2025

0.7% increase

Other Operations

$219M Q3 2026

$198M Q3 2025

10.8% increase

Chinese Operations

$201M Q3 2026

$167M Q3 2025

20.2% increase

Swiss Operations

$55M Q3 2026

$52M Q3 2025

6.1% increase

Source: Mettler Toledo 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026

Cash & equivalents $52M at Sep 30, 2026, vs $67M at FY2025 end.
Total debt $2.0B at Sep 30, 2026, vs $2.2B at FY2025 end.
Operating cash flow, first 9 months of fiscal 2026: $759M vs $730M a year earlier.

The bull case and the bear case

The bull case

Revenue rose 4.0% in FY2025 to $4.0B, from $3.9B a year earlier. 10-K, FY2025
Net income rose 0.7% in FY2025 to $869M, from $863M. 10-K, FY2025
Diluted shares fell 3.0% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
Revenue in the quarter ended Sep 30, 2026 was $1.1B, up 6.3% on a year earlier. 10-Q, quarter ended Sep 30, 2026

The bear case

Operating cash flow fell 1.3% in FY2025 to $956M. 10-K, FY2025
Total debt rose 6.9% in FY2025 to $2.2B. 10-K, FY2025
Swiss Operations revenue fell 3.5% in FY2025 to $211M. 10-K, FY2025

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Mettler Toledo is in the life sciences tools & services industry, part of the health care sector. The SEC files it under Laboratory Analytical Instruments.

Mettler Toledo reports 5 segments: US Operations, Western European Operations, Other Operations, Chinese Operations and Swiss Operations.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the life sciences tools & services industry. They are not a summary of Mettler Toledo’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

RegulationApprovals, safety rules and government oversight shape what it can sell and how.
Pricing and reimbursementPayers, insurers and governments influence what it can charge.
CompetitionNew treatments, generics and rival products can take share.
LitigationProduct liability and other legal claims can lead to costs.
SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$3.8B	$3.9B	$4.0B
Net income	$789M	$863M	$869M
Operating cash flow	$966M	$968M	$956M
Cash & equivalents (year end)	$70M	$59M	$67M
Total debt (year end)	$2.1B	$2.0B	$2.2B
Diluted shares	22M	21M	21M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Debt due within one year plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

Recent filings

Form	Filed	Period
10-Q	Nov 6, 2026	Sep 30, 2026
10-Q	Jul 31, 2026	Jun 30, 2026
10-Q	May 8, 2026	Mar 31, 2026
DEF 14A	Mar 18, 2026	May 7, 2026
10-K	Feb 6, 2026	Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Mettler Toledo

How does Mettler Toledo make money?

In fiscal 2025, revenue totaled $4.0B. By segment in FY2025: US Operations (37%), Western European Operations (22%), Other Operations (20%) and Chinese Operations (16%), as shares of total revenue. Total revenue was $4.0B. Source: 10-K for fiscal 2025, filed Feb 6, 2026.

What was Mettler Toledo's revenue in fiscal 2025?

Revenue came to $4.0B in the year ended Dec 31, 2025. Going back two years, it was $3.8B in fiscal 2023 and $3.9B in fiscal 2024, so the latest year was up 4.0%. Source: 10-K for fiscal 2025, filed Feb 6, 2026.

Is Mettler Toledo profitable?

Yes, by US accounting rules (GAAP): net income was $869M in fiscal 2025, up 0.7% from $863M a year earlier. For the quarter ended Sep 30, 2026, net income was $246M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 6, 2026.

What did Mettler Toledo report in its latest quarterly filing?

The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $1.1B, against $1.0B in the same quarter a year before (up 6.3%), and net income of $246M, against $217M (up 13.1%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026.

How much cash and debt does Mettler Toledo have?

On Sep 30, 2026, cash and cash equivalents stood at $52M and total debt at $2.0B. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Nov 6, 2026.

What are the main risks Mettler Toledo faces?

Mettler Toledo's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 6, 2026. Risks that are common among companies in the life sciences tools & services industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

Where do these Mettler Toledo numbers come from?

Two filings Mettler Toledo made with the SEC: its fiscal 2025 10-K, filed Feb 6, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Mettler Toledo

Point72 Asset Management: 128,987 shares, reported value $164.8M at Jun 30, 2026 (+348.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Millennium Management: 39,166 shares, reported value $50.0M at Jun 30, 2026 (+197.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Citadel Advisors: 17,357 shares, reported value $22.2M at Jun 30, 2026 (−70.1% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Bridgewater Associates: 3,146 shares, reported value $4.0M at Jun 30, 2026 (−38.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Two Sigma Investments: 191 shares, reported value $0.2M at Jun 30, 2026 (−89.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in MTD: The editor holds no position in Mettler Toledo (MTD). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell MTD from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 9, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold MTD, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
Mettler ToledoMTD	FY2025	$4.0B	+4.0%	$869M
Thermo FisherTMO	FY2025	$44.6B	+3.9%	$6.7B
DanaherDHR	FY2025	$24.6B	+2.9%	$3.6B
Agilent TechnologiesA	FY2025	$6.9B	+6.7%	$1.3B
WatersWAT	FY2025	$3.2B	+7.0%	$643M

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.