AMEAMETEK INC/

Industrial Instruments For Measurement, Display, And Control

Revenue: $7.4B; 6.6% YoY
Operating margin: 25.8%; 0.7% YoY
EBITDA: $2.3B; 7.9% YoY
Market cap: $55.2B
Employees: 12,800; $578K revenue each
Net debt / EBITDA: 0.8×; $1.8B net debt
AI in 10-K: 2.8; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 1 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
122% of net income
Cash flow under 80% of net income
Dilutive SBCNo
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
40% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyYes
45% of assets
Over 40% of assets
Shareholder dissentNo
94% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$578K · 77th pct
Bottom quartile of its SIC industry
Quiet on AINo
2.8 per 10K words · 67th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
0.8× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$55.2B market cap
Market cap $500M–$5B

Catalysts 1 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingYes
−$29M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$5.5B	$6.2B	$6.6B	$6.9B	$7.4B	6.6%
Operating income	$1.3B	$1.5B	$1.7B	$1.8B	$1.9B	7.3%
Net income	$990M	$1.2B	$1.3B	$1.4B	$1.5B	7.6%
Operating cash flow	$1.2B	$1.1B	$1.7B	$1.8B	$1.8B	1.5%
Capex	$111M	$139M	$136M	$127M	$130M	2.5%
Stock-based comp	$46M	$47M	$46M	$48M	$48M	0.2%
Buybacks	$15M	$333M	$8M	$212M	$434M	105%
Dividends	$185M	$202M	$230M	$259M	$285M	10%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $1M · 1
Open-market sells, 12 mo: $30M · 9
Net: −$29M

Pay vs performance

No pay-versus-performance disclosure yet.