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Mettler-Toledo International Inc - Stock Quote MTD

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Morningstar's Mettler-Toledo International Inc Stock Analysis

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Economic Moat


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Mettler's Impressive Growth and Margin Expansion Deliver Strong Q1; Maintain Fair Value Estimate

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

Narrow-moat Mettler-Toledo had unexpectedly strong growth in the first quarter, with reported sales rising 12% (14% on a constant-currency basis). It saw some margin improvement as well. We maintain our $770 fair value estimate and believe the shares remain overvalued despite recent declines.

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Mettler-Toledo International Inc's Company Profile

Business Description

Mettler-Toledo International supplies weighing and precision instruments to customers in the life sciences (54% of 2020 sales), industrial (40%), and food retail industries (6%). Its products include laboratory and retail scales, pipettes, pH meters, thermal analysis equipment, titrators, metal detectors, and X-ray analyzers. Mettler leads the market for weighing instrumentation and controls more than 50% of the market for lab balances. The business is geographically diversified, with sales distribution roughly as follows: United States around 30% of sales, Europe around 30%, China around 20%, and the rest of the world around 20%.

1900 Polaris Parkway
Columbus, OH, 43240
T +1 614 438-4511
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Classic Growth
Employees 17,800

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