Key Takeaways for AMETEK Stock as of August 2026
- Broad-Based Beat: AMETEK stock’s parent company posted second-quarter revenue of $2,044.40M, up 14.98% YoY, while adjusted EPS of $2.09 topped Street’s $1.99 estimate by 4.81%.
- Guidance Raised: Management lifted full-year adjusted EPS guidance to $8.20-$8.30, up from a prior $7.94-$8.14 range, and now expects total 2026 sales up ~10% with organic sales up mid-to-high single digits.
- Record Orders Fuel Backlog: Orders hit a record $2.3B, up 28% YoY with organic orders up 25%, and that flow pushed backlog to $4.11B, up 21% since year-end.
- Zapico’s Infrastructure Call: CEO Dave Zapico told investors AMETEK is in “the beginning stages of a multiyear infrastructure build-out,” pointing to AI, defense, and power grid demand as durable, not cyclical.
AMETEK’s Record Backlog and Raised Guide Mask a Narrow Margin Miss
AMETEK (AME) delivered record second-quarter revenue of $2,044.40 million, up 14.98% year over year and 6.01% sequentially, beating Street’s $1,956.54 million estimate by 4.49%. Adjusted earnings per share came in at $2.09, up 17.42% from last year’s $1.78 and 4.81% above the $1.99 Street had modeled. Net income of $480.40 million climbed 16.93% year over year.
EBIT of $544.40 million rose 18% and came in 4.10% above the $522.95 million estimate, but the margin story split from the headline print. EBIT margin landed at 26.63%, ten basis points below the 26.73% Street had penciled in, even as core margins (which strip out FX and portfolio changes) expanded 110 basis points to 27.1%. That gap traces to the Electromechanical Group, where core margins jumped 290 basis points to 26.2% on Paragon Medical’s new product ramp, against a smaller 40-basis-point gain in the Electronic Instruments Group.
What lifted the print further was the order book. Overall orders hit a record $2.3 billion, up 28% year over year with organic orders up 25%, driven by semiconductor metrology demand at Zygo and MedTech wins at Paragon. That flow pushed backlog to a record $4.11 billion, up roughly 21% since the end of 2025. CEO Dave Zapico framed the durability of that pipeline directly on the Q2 earnings call: “I believe we’re in the beginning stages of a multiyear infrastructure build-out, and we’re incredibly well positioned.” He tied that backlog to AI-driven semiconductor capacity, power grid buildouts, and defense modernization rather than any single end market.
Management responded to the quarter by raising full-year adjusted EPS guidance to $8.20-$8.30, up from $7.94-$8.14, implying 10% to 12% growth over 2025. Third-quarter EPS guidance of $2.08-$2.10 implies 10% to 11% growth. Free cash flow rose 37% to $452 million, with conversion at 111% of net income, giving AMETEK room to fund the pending $5 billion Indicor acquisition while net debt-to-EBITDA sits at just 0.6x.
TIKR Values AMETEK Stock at $291, Pricing In Modest Multi-Year Upside
TIKR’s mid-case model values AMETEK stock at $291 by December 2030, implying a 14% total return from the current price of $255 or 3% annualized over 4.4 years.
That annualized return sits well below AMETEK’s own trailing five-year IRR of 13.4%, suggesting the model sees the stock’s current price as having already absorbed much of the growth story investors just heard on the call.
The gap makes sense against the quarter’s mechanics: revenue growth of 4.5% and net income margin of 22.1% in TIKR’s mid case are both below what AMETEK just posted organically, and the model bakes in a modest P/E compression of 0.4% annually rather than the multiple expansion a record backlog might otherwise justify. The record orders and raised guide support the business case, but TIKR’s target treats the current AMETEK stock price as largely reflecting that strength already.
Should You Invest in AMETEK, Inc.?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
