BERWYN, PA — AMETEK, Inc. (NYSE: AME) reported record financial results for the fourth quarter and full year ended December 31, 2025, driven by organic growth, acquisitions, and operating performance that the company said reinforced the durability of its business model.
Fourth-quarter sales reached a record $2.0 billion, a 13 percent increase over the same period in 2024. On a GAAP basis, earnings were a record $1.73 per diluted share. Adjusted earnings rose to $2.01 per diluted share, up 7 percent year over year, reflecting the exclusion of acquisition-related amortization and costs primarily associated with the Faro Technologies acquisition.
GAAP operating income for the quarter totaled $505.5 million, while adjusted operating income reached $523.0 million, a 12 percent increase from the prior year. Operating cash flow was a record $584.3 million, free cash flow reached $527.3 million, and free cash flow conversion was 132 percent.
“AMETEK’s fourth quarter and full year results were outstanding,” Chairman and Chief Executive Officer David A. Zapico said. “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, AMETEK reported record sales of $7.4 billion, a 7 percent increase over 2024. Full-year GAAP earnings per diluted share were $6.40, while adjusted earnings rose 9 percent to $7.43 per diluted share. GAAP operating income for the year was $1.91 billion, and adjusted operating income totaled $1.94 billion, producing adjusted operating margins of 26.2 percent. The company said it established annual records for sales, operating profit, operating margin, EBITDA, EBITDA margin, and both GAAP and adjusted earnings per share.
The Electronic Instruments Group posted fourth-quarter sales of $1.37 billion, up 13 percent from the prior year. GAAP operating income in the segment reached a record $396.1 million, or 28.9 percent of sales, while adjusted operating income rose to $413.7 million.
“EIG delivered excellent results in the fourth quarter,” Zapico said. “The double-digit sales growth was driven by positive organic sales growth and contributions from recent acquisitions, resulting in record operating income and 50 basis points of core margin expansion.”
The Electromechanical Group reported fourth-quarter sales of $628.9 million, a 15 percent increase from 2024. Operating income rose 28 percent to $142.5 million, with margins expanding to 22.7 percent, up 240 basis points from the prior year.
“EMG performed exceptionally well in the fourth quarter to complete an outstanding year,” Zapico said. “Sales growth was broad based with double-digit organic sales growth in each EMG division, resulting in robust profit growth and sizeable margin expansion.”
Looking ahead, the company said it enters 2026 with a record backlog, improving end-market conditions, and financial flexibility to support organic growth and acquisitions.
“Our businesses delivered excellent results in 2025,” Zapico said. “We enter 2026 with a record backlog, improving end market dynamics, and significant financial flexibility to drive continued long-term value creation.”
For 2026, AMETEK expects overall sales to increase at a mid- to high-single-digit rate compared with 2025, with adjusted earnings per diluted share projected between $7.87 and $8.07. For the first quarter of 2026, the company expects sales growth of approximately 10 percent year over year, with adjusted earnings projected in the range of $1.85 to $1.90 per share.
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