Agilent Technologies vs Mettler Toledo
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The short version
- Agilent Technologies is the larger business, with $6.9B of revenue in fiscal 2025 against $4.0B for Mettler Toledo, about 1.7 times as much.
- Agilent Technologies grew revenue faster (6.7%, against 4.0%).
- Mettler Toledo turned more of its sales into free cash flow (21.1% FCF margin, against 16.6%).
- Mettler Toledo earned a higher return on the capital invested in it (50.5%, against 16.5%).
- Investors pay more for each dollar of Mettler Toledo’s earnings: a P/E of 37.6x against 34.1x for Agilent Technologies.
| Latest fiscal year | A · FY25 | MTD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $49.0B | $33.7B |
| Revenue | $6.9B | $4.0B |
| Free cash flow | $1.2B | $849M |
| Net income | $1.3B | $869M |
| Growth | ||
| Revenue growth | 6.7% | 4.0% |
| 5-year growth | 5.4% | 5.5% |
| Share count change | −2.1% | −3.0% |
| Profitability | ||
| Gross margin | 52.4% | 59.4% |
| Operating margin | 21.3% | — |
| Net margin | 18.8% | 21.6% |
| FCF margin | 16.6% | 21.1% |
| Return on capital | 16.5% | 50.5% |
| Return on equity | 20.6% | — |
| Balance sheet | ||
| Net debt | $1.6B | $2.0B |
| Net debt / EBITDA | 0.9x | 1.7x |
| Dividends and buybacks | $707M | $800M |
| Valuation & quality | ||
| P/E | 34.1x | 37.6x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
A $4.2B
MTD $2.5B
FY17
A $4.5B
MTD $2.7B
FY18
A $4.9B
MTD $2.9B
FY19
A $5.2B
MTD $3.0B
FY20
A $5.3B
MTD $3.1B
FY21
A $6.3B
MTD $3.7B
FY22
A $6.8B
MTD $3.9B
FY23
A $6.8B
MTD $3.8B
FY24
A $6.5B
MTD $3.9B
FY25
A $6.9B
MTD $4.0B
A
MTD
Operating margin
FY16
A 14.6%
MTD —
FY17
A 18.1%
MTD —
FY18
A 18.4%
MTD —
FY19
A 18.2%
MTD —
FY20
A 15.9%
MTD —
FY21
A 21.3%
MTD —
FY22
A 23.6%
MTD —
FY23
A 19.8%
MTD —
FY24
A 22.9%
MTD —
FY25
A 21.3%
MTD —
A
MTD
Free cash flow
FY16
A $654M
MTD $337M
FY17
A $713M
MTD $389M
FY18
A $910M
MTD $422M
FY19
A $866M
MTD $506M
FY20
A $802M
MTD $632M
FY21
A $1.3B
MTD $801M
FY22
A $1.0B
MTD $738M
FY23
A $1.5B
MTD $861M
FY24
A $1.4B
MTD $864M
FY25
A $1.2B
MTD $849M
A
MTD
Return on capital
FY16
A 14.5%
MTD 36.8%
FY17
A 17.7%
MTD 31.7%
FY18
A 10.9%
MTD 39.2%
FY19
A 19.0%
MTD 41.6%
FY20
A 12.5%
MTD 43.4%
FY21
A 19.3%
MTD 51.4%
FY22
A 19.8%
MTD 52.6%
FY23
A 17.9%
MTD 48.6%
FY24
A 16.9%
MTD 55.7%
FY25
A 16.5%
MTD 50.5%
A
MTD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.