AMETEK

AMETEK, Inc. (AMETEK) makes electronic instruments and electromechanical devices for niche markets. Its Electronic Instruments Group (EIG) makes analytical, test and measurement instruments for aerospace, medical, power, energy, research and industrial customers. Its Electromechanical Group (EMG) makes medical components and devices, automation products, thermal management systems, specialty metals and electrical interconnects, and it repairs and overhauls aircraft parts. In Q3 2026, sales were $2,220 million: $1,442 million from EIG and $778 million from EMG.

Sales were $7.4 billion in 2025. AMETEK grows with its own products and by buying businesses. On August 26, 2026, it completed the purchase of a group of instrumentation businesses from Indicor, LLC (Indicor Instrumentation) for $5.0 billion in cash. The shares trade on the New York Stock Exchange.

The head office is in Berwyn, Pennsylvania. David A. Zapico is Chairman and Chief Executive Officer.

Investors pay a high multiple of earnings for AMETEK because it has grown its earnings for many years with niche products and many acquisitions. In Q3 2026, sales grew 17%, organic sales grew 10%, orders grew 34.7% and the backlog reached a record $4,540.5 million. The purchase of Indicor Instrumentation for $5.0 billion is the largest in AMETEK's history, and it increased total debt to $6,669.4 million at September 30, 2026.

For this price to hold, three things must be true. Indicor Instrumentation must reach AMETEK's margins and give the planned savings of 10% to 12% of its sales. Organic growth must continue when the strong orders of 2026 become sales.

And AMETEK must reduce debt fast with its free cash flow, so that it can buy more businesses. The Q4 2026 report with the 2027 guidance, expected in early February 2027, is the next test. A weak industrial economy can lower orders and the multiple.

1. Nov 3, 2026Passed

   Q3 2026 results: organic growth and ordersOrganic sales growth of 5% or more and a raised EPS outlook pass; a lower outlook fails.Outcome: Organic sales grew 10%, orders grew 34.7%, and AMETEK raised its 2026 adjusted EPS outlook to $8.53 to $8.57.
2. Feb 2027 · est.Pending

   Q4 2026 results and the 2027 guidance2026 adjusted EPS of $8.53 or more and 2027 guidance for double-digit EPS growth pass; guidance for EPS growth below 8% fails.
3. Aug 2027 · est.Pending

   Q2 2027 results: Indicor margins and debtAn adjusted operating margin near 27% with Indicor Instrumentation included and lower net debt than at September 30, 2026 pass; a lower margin fails.

Every passed and failed checkpoint across all picks

• November 6, 2026Gretchen W. McClain resigned from the AMETEK Board of Directors for personal reasons.
• November 3, 2026AMETEK reported Q3 2026 results. Sales rose 17% to a record $2,220 million, with organic growth of 10%, and adjusted EPS rose 17% to $2.21. Orders rose 34.7% to $2,650.6 million. AMETEK raised its 2026 adjusted EPS guidance to $8.53 to $8.57, from $8.20 to $8.30.
• August 26, 2026AMETEK completed the purchase of Indicor Instrumentation for $5.0 billion in cash. It expects these businesses to add about $350 million to its 2026 sales. It borrowed $4.0 billion under a new term loan for the purchase.

Last earnings

November 3, 2026 (8-K on sec.gov)

Next earnings

Expected about February 3, 2027. The company has not confirmed the date.

• 8-KChange of directors or officersFiled November 6, 2026 · ame-20261106
• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 3, 2026 · ame-20260930
• 8-KEarnings releaseFiled November 3, 2026 · Press release and exhibits
• 8-KOther company newsFiled August 26, 2026 · ame-20260826
• 8-KOther company newsFiled August 11, 2026 · ame-20260807
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 4, 2026 · ame-20260630
• 8-KEarnings releaseFiled August 4, 2026 · Press release and exhibits
• 8-KNew material agreement and New debt or financial obligationFiled June 12, 2026 · ame-20260609
• 8-KOther company newsFiled May 26, 2026 · ame-20260526
• 8-KShareholder vote resultsFiled May 11, 2026 · ame-20260507

Every filing on SEC EDGAR (CIK 1037868)

• The purchase of Indicor Instrumentation for $5.0 billion is the largest in AMETEK's history. If the integration is slow or the savings are smaller than planned, the return on this money can be low.
• Total debt rose to $6,669.4 million at September 30, 2026, from $2,283.3 million at December 31, 2025. The term loans and the credit facility have variable interest rates, and interest expense rose 76.9% in Q3 2026.
• AMETEK sells to industrial, aerospace, semiconductor, energy, medical and research customers. A weak economy can lower orders. Orders grew very fast in 2026, so growth can slow when this cycle ends.
• Tariffs and trade disputes can increase costs and lower demand. AMETEK says that it uses prices and changes to its supply chains to reduce the effect.
• AMETEK sells in many countries. A stronger U.S. dollar lowers sales and profit from other countries.

AMETEK funds itself with cash flow, term loans, a revolving credit facility, commercial paper and senior notes. At September 30, 2026, cash and cash equivalents were $666.2 million, and total debt was $6,669.4 million, so net debt was $6,003.2 million. Read more

Dividend yield

0.6% (last 12 months, at today’s price of $238.31)

Paid per share

$1.33 in the last 12 months (4 payments)

Current annual rate

$1.36 ($0.34 × 4 a year)

Payout ratio

19% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

September 15, 2026, $0.34 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 11.5% a year. From 2015 to 2025, the dividend grew by about 13.2% a year.

Source: company filings and market data, read on November 10, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.