Electronic products manufacturer AMETEK (NYSE:AME) reported Q3 2026 results exceeding the market’s revenue expectations, with revenue up 17.3% year on year to $2.22 billion. Its non-GAAP profit of $2.21 per share was 4.8% above analysts’ consensus estimates.
For more on AMETEK, read our free full research report.
AMETEK (AME) Q3 2026 highlights:
- Revenue $2.22 billion vs S&P analysts’ consensus estimates of $2.16 billion (17.3% year-on-year growth, 2.9% beat)
- Adjusted EPS $2.21 vs S&P analysts’ consensus estimates of $2.11 (4.8% beat)
- Adjusted EPS guidance Management raised its full-year adjusted EPS guidance to $8.55 at the midpoint, a 3.6% increase
- Operating margin 26.3%, in line with the same quarter last year
- Free cash flow margin 23.8%, up from 22.2% in the same quarter last year
- Market capitalization $55.46 billion
"AMETEK delivered outstanding results in the third quarter," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer. "Continued strong organic sales and orders growth, contributions from recent acquisitions, and tremendous operating performance led to 20% operating profit growth, an excellent 110 basis points of core margin expansion, and record free cash flow. In addition, during the third quarter we completed the acquisition of Indicor Instrumentation, an outstanding group of highly differentiated industrial technology businesses."
Revenue growth
A company’s long-term revenue performance can indicate its overall quality. Any business can experience short-term success, but top-performing ones sustain growth for years. AMETEK’s 9.3% annualized revenue growth over the last five years was solid. Its growth surpassed the average industrials company and shows its offerings resonate with customers.
Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. AMETEK’s annualized revenue growth of 8.9% over the last two years aligns with its five-year trend, suggesting its demand was stable. 
This quarter, AMETEK reported year-on-year revenue growth of 17.3%, and its $2.22 billion of revenue exceeded Wall Street’s consensus estimates by 2.9%.
Looking ahead, sell-side analysts expect revenue to grow 18.2% over the next 12 months, according to S&P, an improvement versus the last two years. This strong forecast implies its newer products and services will drive faster revenue growth.
Operating margin
Operating margin is one of the best measures of profitability because it shows how much money a company retains after procuring and manufacturing its products, marketing and selling those products and, most importantly, keeping them relevant through research and development.
AMETEK has performed well over the last five years. It demonstrated high profitability for an industrials business, with an average operating margin of 25.5%. This result is unsurprising given its favorable gross margin baseline.
Looking at the trend in its profitability, AMETEK’s operating margin rose by 1.8 percentage points over the last five years, as its revenue growth gave it operating leverage.
In Q3, AMETEK generated an operating margin of 26.3%, 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 12.7% compounded annual growth rate over the last five years, higher than its 9.3% annualized revenue growth. This indicates the company became more profitable on a per-share basis as it expanded.
A closer look at AMETEK’s earnings helps explain the drivers of its performance. As mentioned earlier, AMETEK’s operating margin was flat this quarter but expanded by 1.8 percentage points over the last five years. In addition, its share count shrank by 1.3%. These are positive signs for shareholders because improving profitability and share buybacks boost EPS growth relative to revenue growth. 
As with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business.
For AMETEK, its two-year annual EPS growth of 11.7% was lower than its five-year trend. Even so, its growth remained solid.
In Q3, AMETEK reported adjusted EPS of $2.21, up from $1.89 in the same quarter last year. This result beat analysts’ consensus estimates by 4.8%. Over the next 12 months, Wall Street expects AMETEK’s full-year EPS to grow 11% from $8.28 to $9.19, according to S&P.
Key takeaways from AMETEK’s Q3 results
AMETEK delivered some important positives in Q3, topping analysts’ consensus estimates for revenue and issuing full-year EPS guidance above Wall Street’s consensus. Shares remained flat at $243.67 immediately after the report.
AMETEK may have had a good quarter, but does that make the stock a good investment? When making that decision, it’s important to consider its valuation and business quality as well as what happened in the latest quarter. Read our full research report here (it’s free).