On this page of StockholderLetter.com we present the latest annual shareholder letter from METTLER TOLEDO INTERNATIONAL INC/ — ticker symbol MTD. Reading current and past MTD letters to shareholders can bring important insights into the investment thesis.
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METTLER TOLEDO METTLER TOLEDO (NYSE:MTD) is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses and believe we hold global number-one market positions in most of them. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. Our sales and service network is one of the most extensive in the industry. Our products are sold in more than 140 countries and we have a direct presence in approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. $4.026.. 29.6% Sales Adjusted Operating Profit Margin $42.73 $878.. Adjusted Earnings per Share -18,100 Workforce Free Cash Flow On the cover: Our NineFocus multi-parameter benchtop meter provides precise measurements of pH, conductivity, ion concentration, and dissolved oxygen. When paired with our digital sensors and autosamplers, NineFocus can significantly boost productivity and support compliance in quality control labs. METTLER TOLEDO is a global leader in precision laboratory instruments. Portions of this report may contain "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by the statements. Further information concerning issues that could materially affect financial performance is contained in the "Forward-Looking Statements Disclaimer" and "Factors Affecting Our Future Operating Results" sections of the 10-K.
Financial Highlights Sales 2025 At-a-Glance Sales by Customer Destination ($ in millions) 4,500 0' +3% Local currency sales cl 4,000 \Y' o -40 basis points Adjusted operating profit margin 3s s" o eu 42% 29% 29% Americas Europe Asia and Other 0 3,500 3,000 +4% Adjusted EPS 2,500 -3% Free cash flow 2,000 1,500 1,000 u co f 6 6 6 cu Adjusted Operating Profit Margin cu cv co 6 N 0 6 cu 0 cv o cv s0 N cu cu o cu 0 cv o cu et N 0 cv u cu 0 cu Adjusted Earnings per Share Free Cash Flow (in %) 40 1,000 45.00 900 40.00 35 cu cu 800 35.00 00 co f 700 30 30.00 600 25.00 500 25 20.00 400 20 21.7 15.00 o 300 co cu a, 10.00 i cv 200 15 5.00 10 3&553 8355cv3cv8cu cu cv < cu cv (I) N cN ct 0.00 100 Lo 6 cu co 6 cv p 6 cu co 6 cv 0 6 cv CAGR in USD for the period 2015 - 2025 is 5%. "' Represents non-GAAP financial measure; a reconciliation to U.S. GAAP metrics is provided in the appendix. 0 cu o N s0 cu cv cv o cv coy N o 0v et cu 0 cv Lo cu 0 cu 0 3&553 85853 33 cu cv cv cv c cv v cN cN t ct
Providing Solutions Across Our Customer's Value Chain Scale-up and Production R&D Laboratory Quality Control Lab 2 R&D Laboratory Quality Control Lab Scale-up and Production Our precise instruments are the foundation of research and quality control labs all over the world. Highperformance weighing solutions offer a basis for solid R&D results. Pipettes are an essential tool for life science research. Thermal analysis instruments help to improve materials and their thermal behavior. Automated chemistry solutions accelerate the development of new chemicals. Quality control relies on fast and precise analytical measurement as well as good data management. Our analytical balances, titrators, pH meters, density meters, refractometers, melting point meters, pipettes, and UV/VIS spectrophotometers can be tailored to each customer's application. Together with LabX software, our instruments provide a fully documented workflow for every quality control lab. Our sensors for measuring critical liquid analytical parameters, such as pH and oxygen levels and water conductivity and resistivity as well as total organic carbon, enable pharmaceutical, biotech, and other companies to continuously ensure product quality and meet regulatory standards. Our transmitters and connectivity solutions make data collection and integration into control systems efficient and flexible.
Production and Filling Packaging Logistics Food Retail I Production and Filling Packaging Logistics Food Retail We offer highly robust and durable industrial scales and terminals in all sizes, formats, and capabilities to monitor and control various manufacturing processes including applications for counting, formulation, and weight-based quality control. Software programs help increase productivity, improve product quality, and enhance the yield of manufacturing processes. Product inspection solutions help to safeguard product quality, safety, and integrity, inside and out. Our systems for metal detection, checkweighing, x-ray, and vision inspection provide confidence that product quality is maintained, compliance with industry standards is achieved, and consumers and brands are protected. Our vehicle scale systems offer the highest level of accuracy and can prevent unexpected downtime thanks to a unique design and remote diagnostics capabilities. For express and freight carriers, in-motion weighing and dimensioning solutions provide revenue recovery opportunities at highest throughputs and read rates. From retailers' receiving docks to their checkout counters, we enhance efficient handling of fresh goods with weighing, packaging, pricing, wrapping, and labeling solutions. Connected scales greatly facilitate in-store marketing, fresh item management, promotions, and more. km -4f 3
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 • Benford's Law Stocks icon MTD Benford's Law Stock Score = 99


MTD Shareholder/Stockholder Letter Transcript:


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METTLER TOLEDO
METTLER TOLEDO (NYSE:MTD) is a leading global supplier of precision instruments and services. We
have strong leadership positions in all of our businesses and believe we hold global number-one market
positions in most of them. We are recognized as an innovation leader and our solutions are critical
in key R&D, quality control, and manufacturing processes for customers in a wide range of industries
including life sciences, food, and chemicals. Our sales and service network is one of the most extensive
in the industry. Our products are sold in more than 140 countries and we have a direct presence in
approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved
a long-term track record of strong financial performance.
$4.026.. 29.6%
Sales
Adjusted Operating Profit Margin
$42.73
$878..
Adjusted Earnings per Share
-18,100
Workforce
Free Cash Flow
On the cover: Our NineFocus multi-parameter benchtop
meter provides precise measurements of pH, conductivity,
ion concentration, and dissolved oxygen. When paired
with our digital sensors and autosamplers, NineFocus can
significantly boost productivity and support compliance in
quality control labs. METTLER TOLEDO is a global leader
in precision laboratory instruments.
Portions of this report may contain "forward-looking statements" under the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those
expressed in or implied by the statements. Further information concerning issues that could materially affect financial performance is
contained in the "Forward-Looking Statements Disclaimer" and "Factors Affecting Our Future Operating Results" sections of the 10-K.

Financial Highlights
Sales
2025 At-a-Glance
Sales by Customer Destination
($ in millions)
4,500
0'

+3%
Local currency sales
cl
4,000
\Y'
o  
-40 basis points
Adjusted operating profit margin
3s
s"  
o
eu
42%
29%
29%

Americas
Europe
Asia and Other
0
3,500
3,000
+4%
Adjusted EPS
2,500
-3%
Free cash flow
2,000
1,500
1,000
u
co
f
6
6
6
cu
Adjusted Operating Profit Margin
cu
cv
co
6
N
0
6
cu
0
cv
o
cv
s0
N
cu
cu
o
cu
0
cv
o
cu
et
N
0
cv
u
cu
0
cu
Adjusted Earnings per Share
Free Cash Flow
(in %)
40
1,000
45.00
900
40.00
35
cu
cu
800
35.00
00
co
f
700
30
30.00
600
25.00
500
25
20.00
400
20 21.7
15.00
o
300
co
cu
a,
10.00
i
cv
200
15
5.00
10
3&553
8355cv3cv8cu
cu cv < cu
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(I)
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cN
ct
0.00
100
Lo
6
cu
co
6
cv
p
6
cu
co
6
cv
0
6
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CAGR in USD for the period 2015 - 2025 is 5%.
"' Represents non-GAAP financial measure; a reconciliation to U.S. GAAP metrics is provided in the appendix.
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Providing Solutions
Across Our Customer's Value Chain
Scale-up and Production
R&D Laboratory
Quality Control Lab


2
R&D Laboratory
Quality Control Lab
Scale-up and Production
Our precise instruments are
the foundation of research
and quality control labs
all over the world. Highperformance weighing
solutions offer a basis for
solid R&D results. Pipettes
are an essential tool for life
science research. Thermal
analysis instruments help to
improve materials and their
thermal behavior. Automated
chemistry solutions
accelerate the development
of new chemicals.
Quality control relies on
fast and precise analytical
measurement as well as
good data management. Our
analytical balances, titrators,
pH meters, density meters,
refractometers, melting point
meters, pipettes, and UV/VIS
spectrophotometers can be
tailored to each customer's
application. Together
with LabX software, our
instruments provide a fully
documented workflow for
every quality control lab.
Our sensors for measuring
critical liquid analytical
parameters, such as pH
and oxygen levels and
water conductivity and
resistivity as well as total
organic carbon, enable
pharmaceutical, biotech,
and other companies to
continuously ensure product
quality and meet regulatory
standards. Our transmitters
and connectivity solutions
make data collection and
integration into control
systems efficient and flexible.


Production and Filling
Packaging
Logistics
Food Retail

I
Production and Filling
Packaging
Logistics
Food Retail
We offer highly robust and
durable industrial scales
and terminals in all sizes,
formats, and capabilities to
monitor and control various
manufacturing processes
including applications for
counting, formulation,
and weight-based quality
control. Software programs
help increase productivity,
improve product quality,
and enhance the yield of
manufacturing processes.
Product inspection solutions
help to safeguard product
quality, safety, and integrity,
inside and out. Our systems
for metal detection, checkweighing, x-ray, and
vision inspection provide
confidence that product
quality is maintained,
compliance with industry
standards is achieved,
and consumers and
brands are protected.
Our vehicle scale systems
offer the highest level of
accuracy and can prevent
unexpected downtime
thanks to a unique design
and remote diagnostics
capabilities. For express and
freight carriers, in-motion
weighing and dimensioning
solutions provide revenue
recovery opportunities at
highest throughputs and
read rates.
From retailers' receiving
docks to their checkout
counters, we enhance
efficient handling of fresh
goods with weighing,
packaging, pricing, wrapping, and labeling solutions.
Connected scales greatly
facilitate in-store marketing,
fresh item management,
promotions, and more.

km


-4f
3


shareholder letter icon 3/18/2026 Letter Continued (Full PDF)
 

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