AMETEK reported record Q4 and FY2025 results, with strong organic growth and margin expansion. Management gave bullish guidance for 2026, driven by a record backlog and improving process and automation markets, despite some lingering macro uncertainty. Q4 results beat expectations, with record sales, orders, and EPS, driven by strong growth across both EIG and EMG segments.
Buzzberg 분석Record backlog of $3.58 billion entering 2026AMETEK reported record Q4 and FY2025 results, with strong organic growth and margin expansion. Management gave bullish guidance for 2026, driven by a record backlog and improving process and automation markets, despite some lingering macro uncertainty. Q4 results beat expectations, with record sales, orders, and EPS, driven by strong growth across both EIG and EMG segments.전체 분석 보기분석 접기
AMETEK reported record Q4 and FY2025 results, with strong organic growth and margin expansion. Management gave bullish guidance for 2026, driven by a record backlog and improving process and automation markets, despite some lingering macro uncertainty. Q4 results beat expectations, with record sales, orders, and EPS, driven by strong growth across both EIG and EMG segments.
Orders and sales growth accelerated through 2025, leading to a record backlog of $3.58B.
Management highlighted strong momentum in power businesses (grid modernization, data centers) and a turn in the process business.
2026 guidance is positive, with expectations for mid-to-high single-digit revenue growth and 6-9% EPS growth, supported by record backlog and a strong acquisition pipeline (e.g., LKC Technologies).
Revenue$1.9984B
reported
EPS$2.01
reported
Gross margin36.93%
reported
Op margin26.17%
reported
이번 분기에 달라진 점
01
Demand
Record backlog of $3.58 billion entering 2026
Management highlighted record results, strong backlog, improving order momentum, and an active M&A pipeline, while guiding conservatively for 2026.
02
Demand
Order growth accelerated through 2025, December was record month
Record backlog of $3.58 billion entering 2026. Management highlighted record results, strong backlog, improving order momentum, and an active M&A pipeline, while guiding conservatively for 2026.
03
Guidance
2026 organic sales expected up low to mid single digits
Guidance · revenue to 6%
04
Margins
Pricing expected to offset inflation and tariffs in 2026
Reported gross margin was 36.93%, reinforcing the quarter's better-than-guided profitability.
수요 및 자본지출
수요
수주 및 전환
Record backlog of $3.58 billion entering 2026. Management highlighted record results, strong backlog, improving order momentum, and an active M&A pipeline, while guiding conservatively for 2026.
자본지출
투자 및 생산능력
Management guided 2026 capital expenditures to approximately $160 million, or about 2% of sales, up from $130 million in 2025, reflecting continued investment back into the business.
톤 · Confident
Management highlighted record results, strong backlog, improving order momentum, and an active M&A pipeline, while guiding conservatively for 2026.
공급망 알파
A1
European defense spending is creating new demand for AMETEK's cooling, computing, and power systems, highlighting a specific supply chain niche in the expanding defense budget.
Soaring commodity prices are boosting demand for AMETEK's new elemental analysis instruments, reflecting a direct link between commodity market moves and analytical equipment sales.
“These new products, the Spectro Max and the Xsort, have seen outstanding demand as rapidly rising commodity prices have increased the importance of precise and accurate metals analysis”
Soaring commodity prices are boosting demand for AMETEK's new elemental analysis instruments, reflecting a direct link between commodity market moves and analytical equipment sales. — Higher commodity prices drive miners and metal producers to invest in precise analysis, creating a direct revenue stream for AMETEK's niche instrumentation.
… Spectro. Spectro is the leading provider of advanced analytical instrumentation for use in critical industrial, environmental, research, and academia applications. Spectro's products and solutions provide highly accurate, reliable, and efficient elemental analysis. Spectro has recently introduced a new product family of elemental analysis instruments, broadening their technology, product capabilities, and market reach. These new products, the Spectro Max and the Xsort, have seen outstanding demand as rapidly rising commodity prices have increased the importance of precise and accurate metals analysis within a wide range of applications. We are also seeing growing demand across our defense businesses, in particular within our European defense businesses, as our differentiated technology capabilities and product portfolio are well positioned to benefit from the expanding defense spending in the region. Our defense businesses provide a wide range of ruggedized high-performance solutions for a diverse set of mission-critical defense applications, and we continue to win content on new programs given our strong design and engineering capabilities. To share a few examples, Ametek's …
European defense spending is creating new demand for AMETEK's cooling, computing, and power systems, highlighting a specific supply chain niche in the expanding defense budget. — Increased European defense budgets will drive content orders for specialized components, benefiting AMETEK and likely its prime contractor customers.