8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):	February 5, 2026

Mettler-Toledo International Inc.

(Exact name of registrant as specified in its charter)

Delaware	File No.	001-13595	13-3668641
(State or other jurisdiction of incorporation)	(Commission File Number)		(IRS Employer Identification No.)		1900 Polaris Parkway
---	---	---	---
Columbus,	OH
and
Im Langacher, P.O. Box MT-100
CH Greifensee, Switzerland		43240	and 8606
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 1-614-438-4511 and +41-44-944-22-11

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	MTD	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

The following information is furnished pursuant to Item 2.02, “Results of Operations and Financial Condition.” The information furnished in this Form 8-K and the Exhibit attached hereto shall not be treated as filed for purposes of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

On February 5, 2026 Mettler-Toledo International Inc. ("Mettler-Toledo") issued a press release (the Release) setting forth its financial results for the three and twelve months ended December 31, 2025. A copy of the Release is furnished hereto as Exhibit 99.1 to this report.

Non-GAAP Financial Measures

Mettler-Toledo supplements its U.S. GAAP results with non-GAAP financial measures. The principal non-GAAP financial measures Mettler-Toledo uses are Adjusted Earnings per Share, Adjusted Operating Profit, Adjusted Free Cash Flow and Local Currency Sales Growth.

Adjusted Earnings per Share

Mettler-Toledo defines Adjusted Earnings per Share as diluted earnings per common share excluding certain non-recurring discrete tax items, amortization of purchased intangible assets, net of tax, restructuring charges, net of tax and certain other one-time charges, net of tax. The most directly comparable U.S. GAAP financial measure is diluted earnings per common share.

Mettler-Toledo believes that Adjusted Earnings per Share is important supplemental information for investors. Mettler-Toledo uses this measure because it excludes certain non-recurring discrete tax items, amortization of purchased intangibles, net of tax, restructuring charges, net of tax and certain other one-time charges, net of tax, which management believes are not directly related to current and ongoing operations thereby providing investors with information that helps to compare ongoing operating performance.

Adjusted Earnings per Share is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Adjusted Earnings per Share is not intended to represent diluted earnings per common share under U.S. GAAP and should not be considered as an alternative to diluted earnings per common share as an indicator of Mettler-Toledo’s performance because of the following limitations.

Limitations of Mettler-Toledo’s non-GAAP measure, Adjusted Earnings per Share

Mettler-Toledo’s non-GAAP measure, Adjusted Earnings per Share, has certain material limitations as follows:

It does not include certain non-recurring discrete tax items, amortization expense of purchased intangibles, net of tax, restructuring charges, net of tax and certain other one-time charges, net of tax. Because non-recurring discrete tax items, amortization of purchased intangibles, restructuring charges and certain other one-time charges are components of diluted earnings per share under U.S. GAAP, any measure that excludes non-recurring discrete tax items, amortization of purchased intangibles, restructuring charges and certain other one-time charges, has material limitations.

Adjusted Operating Profit

Mettler-Toledo defines Adjusted Operating Profit as gross profit less research and development and selling, general and administrative expenses before amortization, interest, restructuring charges and other charges (income), net and taxes. The most directly comparable U.S. GAAP financial measure is earnings before taxes.

Mettler-Toledo believes that Adjusted Operating Profit is important supplemental information for investors. Adjusted Operating Profit is used internally as the principal profit measurement by its segments in their reporting to management. Mettler-Toledo uses this measure because it excludes amortization, interest, restructuring charges and other charges (income), net and taxes, which are not allocated to the segments.

On a consolidated basis, Mettler-Toledo also believes Adjusted Operating Profit is an important supplemental method of measuring profitability. It is used internally by senior management for measuring profitability and setting performance targets for managers, and has historically been used as one of the means of publicly providing guidance on possible future results. Mettler-Toledo also believes that Adjusted Operating Profit is an important performance measure because it provides a measure of comparability to other companies with different capital or legal structures, which accordingly may be subject to disparate interest rates and effective tax rates, and to companies which may incur different amortization expenses or impairment charges related to intangible assets.

Adjusted Operating Profit is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Adjusted Operating Profit is not intended to represent operating income under U.S. GAAP and should not be considered as an alternative to earnings before taxes as an indicator of Mettler-Toledo’s performance because of the following limitations.

Limitations of Mettler-Toledo’s non-GAAP measure, Adjusted Operating Profit

Mettler-Toledo’s non-GAAP measure, Adjusted Operating Profit, has certain material limitations as follows:

•	It excludes amortization expense. Because this item is recurring, any measure that excludes amortization expense has material limitations.
•	It does not include interest expense. Because Mettler-Toledo has borrowed money to finance some of its operations, interest is a necessary and ongoing part of its costs and has assisted Mettler-Toledo in generating revenue. Therefore any measure that excludes interest expense has material limitations.
•	It excludes restructuring charges. Because restructuring charges are a component of operating income under U.S. GAAP, any measure that excludes restructuring charges, has material limitations.
•	It excludes other charges (income), net. Because other charges (income), net is a component of operating income under U.S. GAAP, any measure that excludes other charges (income), net, has material limitations.

Adjusted Free Cash Flow

Mettler-Toledo defines Adjusted Free Cash Flow as net cash provided by operating activities including proceeds from the sale of property, plant and equipment, less capital expenditures, and before restructuring, acquisition transaction cost payments, and tax reform payments. The most directly comparable U.S. GAAP financial measure is net cash provided by operating activities.

Mettler-Toledo believes Adjusted Free Cash Flow is important supplemental information for investors. It is used internally by senior management for measuring operating cash flow generation and setting performance targets for managers, and has historically been used as one of the means of providing guidance on possible future cash flows.

Adjusted Free Cash Flow is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Adjusted Free Cash Flow is not intended to represent net cash provided by operating activities recorded under U.S. GAAP and should not be considered as an alternative to net cash provided by operating activities as an indicator of Mettler-Toledo’s performance because of the following limitations.

Limitations of Mettler-Toledo’s non-GAAP measure, Adjusted Free Cash Flow

Mettler-Toledo’s non-GAAP measure, Adjusted Free Cash Flow, has certain material limitations as follows:

•	It includes proceeds from the sale of property, plant and equipment and purchases of property, plant and equipment, which are not considered to be components of net cash provided by operating activities under U.S. GAAP. Therefore any measure that includes proceeds from the sale of property, plant and equipment and purchases of property, plant and equipment has material limitations.
•	It excludes restructuring, acquisition transaction cost payments, and tax reform payments which is considered to be a component of net cash provided by operating activities under U.S. GAAP. Therefore any measure that excludes these items has material limitations.

Local Currency Sales Growth

Mettler-Toledo defines Local Currency Sales Growth as sales growth excluding the effect of currency exchange rate fluctuations that result from translating activity outside of the United States into U.S. dollars. The most directly comparable U.S. GAAP financial measure is U.S. dollar sales growth.

Mettler-Toledo believes that Local Currency Sales Growth is important supplemental information for investors. Mettler-Toledo believes local currency information provides a helpful assessment of business performance and a useful measure of results between periods.

Local Currency Sales Growth is used in addition to and in conjunction with results presented in accordance with U.S. GAAP. Local Currency Sales Growth is not intended to represent U.S. dollar sales growth under U.S. GAAP and should not be considered as an alternative to U.S. dollar sales growth as an indicator of Mettler-Toledo’s performance because of the following limitations.

Limitations of Mettler-Toledo’s non-GAAP measure, Local Currency Sales Growth

Mettler-Toledo’s non-GAAP measure, Local Currency Sales Growth, has certain material limitations as follows:

It does not include the effect of currency exchange rate fluctuations that result from translating activity outside of the United States into U.S. dollars. Because the effect of changes in foreign currency exchange rates is a component of sales growth under U.S. GAAP, any measure that excludes the effect of changes in foreign currency exchange rates, has material limitations.

Adjusted Earnings per Share, Adjusted Operating Income, Adjusted Free Cash Flow and Local Currency Sales Growth should not be relied upon to the exclusion of U.S. GAAP financial measures, but reflect additional measures of comparability and means of viewing aspects of Mettler-Toledo’s operations that, when viewed together with its U.S. GAAP results and the accompanying reconciliations to net earnings, net cash provided by operating activities and diluted earnings per share, provide a more complete understanding of factors and trends affecting its business.

Because Adjusted Earnings per Share, Adjusted Operating Income, Adjusted Free Cash Flow and Local Currency Sales Growth are not standardized, it may not be possible to compare with other companies’ non-GAAP financial measures having the same or similar names. We strongly encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.

The Release provides a reconciliation of Adjusted Earnings per Share, Adjusted Operating Income and Adjusted Free Cash Flow to the most comparable financial measures recorded under U.S. GAAP. The Release also presents Local Currency Sales Growth in conjunction with its most comparable financial measure recorded under U.S. GAAP.

Item 9.01 Financial Statements and Exhibits

Exhibit No.	Description
99.1	Press release, dated February 5, 2026, issued by Mettler-Toledo International Inc.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).*<br><br>* Submitted electronically with this Report in accordance with the provision of Regulation S-T.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		METTLER-TOLEDO INTERNATIONAL INC.
Dated:	February 5, 2026	By:	/s/ Shawn P. Vadala
			Shawn P. Vadala
			Chief Financial Officer

7

Document

FOR IMMEDIATE RELEASE	Exhibit 99.1

METTLER-TOLEDO INTERNATIONAL INC. REPORTS

FOURTH QUARTER 2025 RESULTS

COLUMBUS, Ohio, USA – February 5, 2026 – Mettler-Toledo International Inc. (NYSE: MTD) today announced fourth quarter results for 2025. Provided below are the highlights:

•Reported sales increased 8% compared with the prior year. In local currency, sales increased 5% compared with the prior year and included a 1% benefit from acquisitions.

•Net earnings per diluted share as reported (EPS) were $13.98, compared with $11.96 in the prior-year period. Adjusted EPS was $13.36, an increase of 8% over the prior-year amount of $12.41. Adjusted EPS is a non-GAAP measure, and a reconciliation to EPS is included on the last page of the attached schedules.

Fourth Quarter Results

Patrick Kaltenbach, President and Chief Executive Officer, stated, “We had a great finish to the year with broad based growth by geography and product category. Our team continues to execute very well in a challenging environment and delivered strong Adjusted EPS growth for the quarter with excellent free cash flow conversion for the year.”

GAAP Results

EPS in the quarter was $13.98, compared with the prior-year amount of $11.96, and included a non-cash discrete tax benefit of $0.95 per share.

Compared with the prior year, total reported sales increased 8% to $1.130 billion. By region, reported sales increased 7% in the Americas, 12% in Europe, and 5% in Asia/Rest of World. Earnings before taxes amounted to $329.1 million, compared with $314.5 million in the prior year.

Non-GAAP Results

Adjusted EPS was $13.36, an increase of 8% over the prior-year amount of $12.41.

Compared with the prior year, total sales in local currency increased 5%. By region, local currency sales increased 7% in the Americas, 4% in Europe, and 4% in Asia/Rest of World. Excluding acquisitions, fourth quarter local currency sales increased 4%, including 4% growth in the Americas. Adjusted Operating Profit amounted to $363.0 million, compared with the prior-year amount of $351.9 million.

Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Full Year Results

GAAP Results

EPS was $42.05, compared with the prior-year amount of $40.48. Results in 2025 included a non-cash discrete tax benefit of $0.95 per share, while results in 2024 included a non-cash discrete tax benefit of $1.07 per share.

Compared with the prior year, total reported sales increased 4% to $4.026 billion. By region, reported sales increased 5% in the Americas, 6% in Europe, and 2% in Asia/Rest of World. Earnings before taxes amounted to $1.049 billion, compared with $1.037 billion in the prior year.

Non-GAAP Results

Adjusted EPS was $42.73, an increase of 4% over the prior-year amount of $41.11.

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Total sales in local currency increased 3% compared with the prior year. By region, local currency sales increased 5% in the Americas, 1% in Europe, and 2% in Asia/Rest of World. Excluding acquisitions and the impact from delayed fourth quarter 2023 shipments that benefited first quarter 2024 sales, full year 2025 local currency sales increased 4%, including 4% growth in the Americas, 3% growth in Europe, and 3% growth in Asia/Rest of World. Adjusted Operating Profit amounted to $1.193 billion, compared with the prior-year amount of $1.200 billion.

Adjusted EPS and Adjusted Operating Profit are non-GAAP measures. Reconciliations to the most comparable GAAP measures are provided in the attached schedules.

Outlook

Management cautions that market conditions are uncertain and could change quickly. Based on today's assessment, management anticipates local currency sales for the first quarter of 2026 will increase approximately 3%. Adjusted EPS is forecast to be $8.60 to $8.75, a growth rate of 5% to 7%.

For the full year 2026, management anticipates local currency sales will increase approximately 4%. Adjusted EPS is forecast to be in the range of $46.05 to $46.70, representing growth of approximately 8% to 9%. This compares with previous local currency sales growth guidance of approximately 4% and Adjusted EPS guidance of $45.35 to $46.00.

The Company does not provide GAAP financial measures on a forward-looking basis because we are unable to predict with reasonable certainty and without unreasonable effort the timing and amount of future restructuring and other non-recurring items.

Conclusion

Kaltenbach concluded, “I am very proud of our organization’s resilience and agility over the past year as we successfully navigated challenges posed by global trade disputes and soft market conditions, and we remain agile in this dynamic environment. Looking ahead, we are very well positioned to drive growth with our Spinnaker sales and marketing program and innovative product portfolio while capitalizing on opportunities related to automation, digitalization, and onshoring investments around the world. Our strategic initiatives and strong culture of innovation and operational excellence are deeply embedded in the organization and will help us continue to gain share and deliver strong financial performance.”

Other Matters

The Company will host a conference call to discuss its quarterly results tomorrow morning (Friday, February 6) at 8:30 a.m. Eastern Time. To listen to a live webcast or replay of the call, visit the investor relations page on the Company’s website at investor.mt.com. The presentation referenced on the conference call will be located on the website prior to the call.

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. For more information, please visit www.mt.com.

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Forward-Looking Statements Disclaimer

You should not rely on forward-looking statements to predict our actual results. Our actual results or performance may be materially different than reflected in forward-looking statements because of various risks and uncertainties. You can identify forward-looking statements by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” or “continue.”

We make forward-looking statements in this Quarterly Report about future events or our future financial performance, including sales and earnings growth, earnings per share, strategic plans and contingency plans, growth opportunities or economic downturns, our ability to respond to changes in market conditions, planned research and development efforts and product introductions, adequacy of facilities, access to and the costs of raw materials, shipping and supplier costs, gross margins, customer demand, our competitive position, pricing, capital expenditures, cash flow, share repurchases, tax-related matters, the impact of foreign currencies, compliance with laws, effects of acquisitions, the impact of inflation, ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, the conflict in Ukraine and continuing instability in the Middle East on our business.

Our forward-looking statements may not be accurate or complete, speak only as of the date of this Quarterly Report, and we do not intend to update or revise them in light of actual results. New risks also periodically arise. Please consider the risks and factors that could cause our results to differ materially from what is described in our forward-looking statements, including ongoing developments related to global trade disputes/tariffs, governmental policies, the geopolitical environment, inflation, the conflict in Ukraine and continuing instability in the Middle East. See in particular “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other reports filed with the SEC from time to time.

Adam Uhlman

Head of Investor Relations

METTLER TOLEDO

Direct: 614-438-4794

adam.uhlman@mt.com

Source: Mettler-Toledo International Inc.

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METTLER-TOLEDO INTERNATIONAL INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(amounts in thousands except share data)

(unaudited)

		Three months ended				Three months ended
		December 31, 2025			% of sales	December 31, 2024		% of sales
Net sales		$	1,129,735	(a)	100.0	$	1,045,127	100.0
Cost of sales		454,300			40.2	405,812		38.8
Gross profit		675,435			59.8	639,315		61.2
Research and development		52,599			4.7	50,054		4.8
Selling, general and administrative		259,826			23.0	237,340		22.7
Amortization		19,673			1.8	18,220		1.8
Interest expense		17,388			1.5	17,850		1.7
Restructuring charges		4,572			0.4	2,147		0.2
Other charges (income), net		(7,697)			(0.7)	(843)		(0.1)
Earnings before taxes		329,074			29.1	314,547		30.1
Provision for taxes		43,309			3.8	62,246		6.0
Net earnings		$	285,765		25.3	$	252,301	24.1
Basic earnings per common share:
Net earnings		$	14.02			$	12.00
Weighted average number of common shares		20,380,453				21,024,024
Diluted earnings per common share:
Net earnings		$	13.98			$	11.96
Weighted average number of common and common equivalent shares		20,444,484				21,101,360
Note:
(a)	Local currency sales increased 5% as compared to the same period in 2024.
RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT
		Three months ended				Three months ended
		December 31, 2025			% of sales	December 31, 2024		% of sales
Earnings before taxes		$	329,074			$	314,547
Amortization		19,673				18,220
Interest expense		17,388				17,850
Restructuring charges		4,572				2,147
Other charges (income), net		(7,697)				(843)
Adjusted operating profit		$	363,010	(b)	32.1	$	351,921	33.7
Note:
(b)	Adjusted operating profit increased 3% as compared to the same period in 2024.

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METTLER-TOLEDO INTERNATIONAL INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(amounts in thousands except share data)

(unaudited)

		Twelve months ended				Twelve months ended
		December 31, 2025			% of sales	December 31, 2024		% of sales
Net sales		$	4,026,399	(a)	100.0	$	3,872,361	100.0
Cost of sales		1,635,753			40.6	1,546,778		39.9
Gross profit		2,390,646			59.4	2,325,583		60.1
Research and development		199,373			5.0	189,357		4.9
Selling, general and administrative		998,314			24.8	936,303		24.2
Amortization		74,469			1.8	72,869		1.9
Interest expense		68,515			1.7	74,631		1.9
Restructuring charges		17,868			0.4	19,771		0.5
Other charges (income), net		(16,802)			(0.4)	(4,571)		(0.1)
Earnings before taxes		1,048,909			26.1	1,037,223		26.8
Provision for taxes		179,716			4.5	174,083		4.5
Net earnings		$	869,193		21.6	$	863,140	22.3
Basic earnings per common share:
Net earnings		$	42.17			$	40.67
Weighted average number of common shares		20,610,189				21,221,839
Diluted earnings per common share:
Net earnings		$	42.05			$	40.48
Weighted average number of common and common equivalent shares		20,671,708				21,320,641
Note:
(a)	Local currency sales increased 3% as compared to the same period in 2024.
RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING PROFIT
		Twelve months ended				Twelve months ended
		December 31, 2025			% of sales	December 31, 2024		% of sales
Earnings before taxes		$	1,049			$	1,037,223
Amortization		74,469				72,869
Interest expense		68,515				74,631
Restructuring charges		17,868				19,771
Other charges (income), net		(16,802)				(4,571)
Adjusted operating profit		$	1,193	(b)	29.6	$	1,199,923	31.0
Note:
(b)	Adjusted operating profit decreased 1% as compared to the same period in 2024.

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METTLER-TOLEDO INTERNATIONAL INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(amounts in thousands)

(unaudited)

	December 31, 2025		December 31, 2024
Cash and cash equivalents	$	66,888	$	59,362
Accounts receivable, net	778,243		687,112
Inventories	387,228		342,274
Other current assets and prepaid expenses	130,308		105,158
Total current assets	1,362,667		1,193,906
Property, plant and equipment, net	845,636		770,280
Goodwill and other intangible assets, net	1,018,135		926,057
Other non-current assets	486,208		349,756
Total assets	$	3,712,646	$	3,239,999
Short-term borrowings and maturities of long-term debt	$	63,931	$	182,623
Trade accounts payable	266,628		215,843
Accrued and other current liabilities	867,557		769,727
Total current liabilities	1,198,116		1,168,193
Long-term debt	2,088,241		1,831,265
Other non-current liabilities	449,925		367,431
Total liabilities	3,736,282		3,366,889
Shareholders’ equity	(23,636)		(126,890)
Total liabilities and shareholders’ equity	$	3,712,646	$	3,239,999

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METTLER-TOLEDO INTERNATIONAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(amounts in thousands)

(unaudited)

	Three months ended				Twelve months ended
	December 31,				December 31,
	2025		2024		2025		2024
Cash flow from operating activities:
Net earnings	$	285,765	$	252,301	$	869,193	$	863,140
Adjustments to reconcile net earnings to
net cash provided by operating activities:
Depreciation	13,092		12,643		51,141		50,352
Amortization	19,673		18,220		74,469		72,869
Deferred tax provision (benefit)	22,598		(155)		17,471		(5,216)
Share-based compensation	6,485		6,357		22,512		19,979
One-time non-cash discrete tax benefit	(13,685)		—		(13,685)		(22,982)
Increase (decrease) in cash resulting from changes in
operating assets and liabilities	(108,343)		(23,179)		(65,329)		(9,796)
Net cash provided by operating activities	225,585		266,187		955,772		968,346
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	—		898		—		1,631
Purchase of property, plant and equipment	(41,504)		(41,276)		(107,124)		(103,898)
Proceeds from government funding	6,170		—		6,170		—
Acquisitions	(18,411)		(7,618)		(93,839)		(10,091)
Other investing activities	13,340		(3,056)		919		(7,104)
Net cash used in investing activities	(40,405)		(51,052)		(193,874)		(119,462)
Cash flows from financing activities:
Proceeds from borrowings	438,015		594,916		1,996,222		2,156,565
Repayments of borrowings	(499,825)		(598,429)		(1,974,762)		(2,175,291)
Proceeds from exercise of stock options	21,414		1,380		32,273		23,719
Repurchases of common stock	(143,749)		(212,500)		(799,995)		(849,997)
Payments of excise tax on repurchases of common stock	(7,750)		(8,089)		(7,750)		(8,089)
Other financing activities	(241)		(971)		(1,161)		(2,884)
Net cash used in financing activities	(192,136)		(223,693)		(755,173)		(855,977)
Effect of exchange rate changes on cash and cash equivalents	4,779		(3,654)		801		(3,352)
Net increase (decrease) in cash and cash equivalents	(2,177)		(12,212)		7,526		(10,445)
Cash and cash equivalents:
Beginning of period	69,065		71,574		59,362		69,807
End of period	$	66,888	$	59,362	$	66,888	$	59,362
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED FREE CASH FLOW
	Three months ended				Twelve months ended
	December 31,				December 31,
	2025		2024		2025		2024
Net cash provided by operating activities	$	225,585	$	266,187	$	955,772	$	968,346
Payments in respect of restructuring activities	3,988		3,986		13,404		23,752
Payments for acquisition transaction costs	—		—		901		—
Transition tax payment	—		—		13,404		10,723
Proceeds from sale of property, plant and equipment	—		898		—		1,631
Purchase of property, plant and equipment, net	(41,504)		(41,276)		(107,124)		(103,898)
Adjusted free cash flow	$	188,069	$	229,795	$	877,535	$	900,554

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METTLER-TOLEDO INTERNATIONAL INC.

OTHER OPERATING STATISTICS

SALES GROWTH BY DESTINATION
(unaudited)
				Americas			Europe	Asia/RoW			Total
U.S. Dollar Sales Growth
	Three Months Ended December 31, 2025			7%			12%	5%			8%
	Twelve Months Ended December 31, 2025			5%			6%	2%			4%
Local Currency Sales Growth
	Three Months Ended December 31, 2025			7%			4%	4%			5%
	Twelve Months Ended December 31, 2025			5%			1%	2%			3%
Note:
(a)	Net sales growth in local currency excluding acquisitions was 4%, including growth of 4% in the Americas, for the three months ended December 31, 2025.
(b)	The Company estimates net sales growth in local currency was 4% excluding acquisitions and the impact from delayed fourth quarter 2023 shipments that benefited first quarter 2024 sales, and by geographic destination increased by 4% in the Americas, 3% in Europe and 3% in Asia/Rest of World for the twelve months ended December 31, 2025.
RECONCILIATION OF DILUTED EPS AS REPORTED TO ADJUSTED DILUTED EPS
(unaudited)
								Twelve months ended
								December 31,
				2024			% Growth	2025			2024			% Growth
EPS as reported, diluted		13.98		$	11.96		17%	$	42.05		$	40.48		4%
Purchased intangible amortization, net of tax			(a)	0.24		(a)		1.02		(a)	0.94		(a)
Restructuring charges, net of tax			(b)	0.09		(b)		0.70		(b)	0.76		(b)
Acquisition costs, net of tax			(c)					(0.09)		(c)
Income tax expense			(d)	0.12		(d)		(0.95)		(d)	(1.07)		(d)
Adjusted EPS, diluted		13.36		$	12.41		8%	$	42.73		$	41.11		4%
Notes:
(a)	Represents the EPS impact of purchased intangibles amortization of 7.5 million (5.7 million net of tax) and 6.4 million (5.0 million net of tax) for the three months ended December 31, 2025 and 2024, respectively, and of 27.3 million (21.1 million net of tax) and 25.9 million (20.1 million net of tax) for the twelve months ended December 31, 2025 and 2024, respectively.
(b)	Represents the EPS impact of restructuring charges of 4.6 million (3.7 million after tax) and 2.1 million (1.7 million after tax) for the three months ended December 31, 2025 and 2024, respectively, and of 17.9 million (14.5 million after tax) and 19.8 million (16.0 million after tax) for the twelve months ended December 31, 2025 and 2024, respectively, which primarily include employee related costs; and other costs of 0.3 million (0.3 million after tax) for the three and twelve months ended December 31, 2024.
(c)	Represents the EPS impact of a net benefit of 4.4 million (3.6 million net of tax) related to contingent consideration associated with previous acquisitions less acquisition transaction costs of 0.9 million (0.7 million net of tax) and 2.2 million (1.7 million net of tax) for the three and twelve months ended December 31, 2025, respectively.
(d)	Represents the EPS impact of the difference between our quarterly and estimated annual tax rate before non-recurring discrete items during the three months ended December 31, 2025 and 2024 due to the timing of excess tax benefits associated with stock option exercises. Also includes a reported EPS reduction of 0.95 for the three and twelve months ended December 31, 2025 and 1.07 for the twelve months ended December 31, 2024, respectively, for non-cash discrete tax benefits resulting from the reduction of uncertain tax position liabilities and valuation allowance related to the settlement of tax audits.

All values are in US Dollars.

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