Electronic products manufacturer AMETEK (NYSE: AME) reported Q3 CY2025 results topping the market’s revenue expectations, with sales up 10.8% year on year to $1.89 billion. Its non-GAAP profit of $1.89 per share was 7.4% above analysts’ consensus estimates.
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AMETEK (AME) Q3 CY2025 Highlights:
- Revenue: $1.89 billion vs analyst estimates of $1.81 billion (10.8% year-on-year growth, 4.3% beat)
- Adjusted EPS: $1.89 vs analyst estimates of $1.76 (7.4% beat)
- Management raised its full-year Adjusted EPS guidance to $7.35 at the midpoint, a 3% increase
- Operating Margin: 25.8%, in line with the same quarter last year
- Market Capitalization: $42.54 billion
"AMETEK delivered impressive results in the third quarter, highlighted by double digit growth in sales, orders and earnings per share, along with an outstanding 90 basis points of margin expansion excluding the impact of recent acquisitions," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer.
Company Overview
Started from its humble beginnings in motor repair, AMETEK (NYSE: AME) manufactures electronic devices used in industries like aerospace, power, and healthcare.
Revenue Growth
A company’s long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Over the last five years, AMETEK grew its sales at a solid 9% compounded annual growth rate. Its growth beat the average industrials company and shows its offerings resonate with customers.
We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. AMETEK’s recent performance shows its demand has slowed as its annualized revenue growth of 5.1% over the last two years was below its five-year trend. We also note many other Internet of Things businesses have faced declining sales because of cyclical headwinds. While AMETEK grew slower than we’d like, it did do better than its peers. 
This quarter, AMETEK reported year-on-year revenue growth of 10.8%, and its $1.89 billion of revenue exceeded Wall Street’s estimates by 4.3%.
Looking ahead, sell-side analysts expect revenue to grow 6.8% over the next 12 months. While this projection suggests its newer products and services will fuel better top-line performance, it is still below average for the sector.
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Operating Margin
AMETEK has been a well-oiled machine over the last five years. It demonstrated elite profitability for an industrials business, boasting an average operating margin of 25.1%. This result isn’t too surprising as its gross margin gives it a favorable starting point.
Analyzing the trend in its profitability, AMETEK’s operating margin rose by 2.4 percentage points over the last five years, as its sales growth gave it operating leverage.
This quarter, AMETEK generated an operating margin profit margin of 25.8%, in line with the same quarter last year. This indicates the company’s cost structure has recently been stable.
Earnings Per Share
We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
AMETEK’s EPS grew at a remarkable 13% compounded annual growth rate over the last five years, higher than its 9% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.
Diving into the nuances of AMETEK’s earnings can give us a better understanding of its performance. As we mentioned earlier, AMETEK’s operating margin was flat this quarter but expanded by 2.4 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its higher earnings; interest expenses and taxes can also affect EPS but don’t tell us as much about a company’s fundamentals.
Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business.
For AMETEK, its two-year annual EPS growth of 8.3% was lower than its five-year trend. We hope its growth can accelerate in the future.
In Q3, AMETEK reported adjusted EPS of $1.89, up from $1.66 in the same quarter last year. This print beat analysts’ estimates by 7.4%. Over the next 12 months, Wall Street expects AMETEK’s full-year EPS of $7.29 to grow 4.2%.
Key Takeaways from AMETEK’s Q3 Results
We were impressed by how significantly AMETEK blew past analysts’ revenue expectations this quarter. We were also glad its full-year EPS guidance exceeded Wall Street’s estimates. Zooming out, we think this was a solid print. The stock traded up 3.9% to $191.40 immediately after reporting.
AMETEK may have had a good quarter, but does that mean you should invest right now? We think that the latest quarter is only one piece of the longer-term business quality puzzle. Quality, when combined with valuation, can help determine if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
