Ametek vs Acuity Brands
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The short version
- Ametek is the larger business, with $7.4B of revenue in fiscal 2025 against $4.6B for Acuity Brands, about 1.6 times as much.
- Ametek kept more of each dollar of sales as operating profit (25.8% operating margin, against 15.4%).
- Ametek turned more of its sales into free cash flow (22.6% FCF margin, against 16.1%).
- Acuity Brands earned a higher return on the capital invested in it (17.9%, against 13.2%).
| Latest fiscal year | AME · FY25 | AYI · FY26 |
|---|---|---|
| Size | ||
| Market cap | $55.2B | $9.9B |
| Revenue | $7.4B | $4.6B |
| Free cash flow | $1.7B | $748M |
| Net income | $1.5B | $531M |
| Growth | ||
| Revenue growth | 6.6% | 6.8% |
| 5-year growth | 10.3% | 6.1% |
| Share count change | −0.4% | −1.6% |
| Profitability | ||
| Gross margin | 36.0% | 50.6% |
| Operating margin | 25.8% | 15.4% |
| Net margin | 20.0% | 11.5% |
| FCF margin | 22.6% | 16.1% |
| Return on capital | 13.2% | 17.9% |
| Return on equity | 14.6% | 18.6% |
| Balance sheet | ||
| Net debt | $1.8B | $61.1M |
| Net debt / EBITDA | 0.8x | 0.1x |
| Dividends and buybacks | $719M | $311M |
| Valuation & quality | ||
| P/E | 35.1x | — |
| Piotroski F-score | 7 | 7 |
Revenue
FY17
AME $4.3B
AYI $3.5B
FY18
AME $4.8B
AYI $3.7B
FY19
AME $5.2B
AYI $3.7B
FY20
AME $4.5B
AYI $3.3B
FY21
AME $5.5B
AYI $3.5B
FY22
AME $6.2B
AYI $4.0B
FY23
AME $6.6B
AYI $4.0B
FY24
AME $6.9B
AYI $3.8B
FY25
AME $7.4B
AYI $4.3B
FY26
AME —
AYI $4.6B
AME
AYI
Operating margin
FY17
AME 21.0%
AYI 15.1%
FY18
AME 22.2%
AYI 12.5%
FY19
AME 22.8%
AYI 12.6%
FY20
AME 22.6%
AYI 10.6%
FY21
AME 23.6%
AYI 12.4%
FY22
AME 24.4%
AYI 12.7%
FY23
AME 25.9%
AYI 12.0%
FY24
AME 25.6%
AYI 14.4%
FY25
AME 25.8%
AYI 13.0%
FY26
AME —
AYI 15.4%
AME
AYI
Free cash flow
FY17
AME $758M
AYI $269M
FY18
AME $843M
AYI $308M
FY19
AME $1.0B
AYI $442M
FY20
AME $1.2B
AYI $450M
FY21
AME $1.0B
AYI $365M
FY22
AME $1.0B
AYI $260M
FY23
AME $1.6B
AYI $511M
FY24
AME $1.7B
AYI $555M
FY25
AME $1.7B
AYI $533M
FY26
AME —
AYI $748M
AME
AYI
Return on capital
FY17
AME 14.8%
AYI 20.8%
FY18
AME 14.0%
AYI 20.7%
FY19
AME 13.5%
AYI 19.2%
FY20
AME 11.3%
AYI 14.3%
FY21
AME 13.1%
AYI 16.5%
FY22
AME 13.1%
AYI 18.7%
FY23
AME 13.2%
AYI 17.0%
FY24
AME 12.8%
AYI 20.6%
FY25
AME 13.2%
AYI 17.1%
FY26
AME —
AYI 17.9%
AME
AYI
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.