Mettler Toledo management check
MTD · Health Care · Life Sciences Tools & Services · CEO Patrick Kaltenbach
Filings as of
5 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $122, against $106 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.84 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.8% of net income$6.7m of reported pay in fiscal 2025, against $869.2m of net income.
- Watch
Do they own the stock?
CEO stake ≈ 1.1 years of payThe CEO holds 5,422 shares, directly or through trusts (unvested awards not counted): about 1.1 years of pay. 4 insiders sold $6.1m in the last six months and none bought.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -3.0% a year over the last three fiscal years. Stock-based pay was 0.6% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Olivier Filliol, Patrick Kaltenbach. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 70 | 26 | |
| Pay for performance | 92 | 85 | |
| CEO cost | 59 | 44 | |
| Skin in the game | 18 | 46 | |
| Dilution | 88 | 68 | |
| Stable leadership | 40 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Life Sciences Tools & Services, by management score. Mettler Toledo is 25th of 60 in its sector.
- 104WATWaters Corporation76
- 173IQVIQVIA71
- 218MTDMettler Toledo67
- 297DHRDanaher Corporation62
- 301TMOThermo Fisher Scientific61
- 374CRLCharles River Laboratories56
- 397AAgilent Technologies53
- 422TECHBio-Techne50
- 444ILMNIllumina, Inc.47
Pay versus performance
From the proxy statement filed March 18, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Patrick Kaltenbach | $6.7m | $8.8m | $1.9m | $122 | $106 | $869.2m |
| 2024 | Patrick Kaltenbach | $6.9m | $6.5m | $1.6m | $107 | $102 | $863.1m |
| 2023 | Patrick Kaltenbach | $8.5m | $4.7m | $1.4m | $106 | $103 | $788.8m |
| 2022 | Patrick Kaltenbach | $6.5m | $4.6m | $1.5m | $127 | $109 | $872.5m |
| 2021 | Olivier Filliol, Patrick Kaltenbach | $12.0m | $17.2m | $2.0m | $149 | $139 | $769.0m |
Its other key measures: Non-GAAP earnings per share, Net cash flow, Group sales at budgeted currency rates, Total shareholder return relative to the S&P 500 Healthcare Index and the S&P 500 Industrials Index.
Insiders and the CEO's stake
Patrick Kaltenbach (President and CEO) held 5,422 shares directly after their latest Form 4 on Aug 27, 2026, roughly $7.7m at that filing's price.
4 insiders sold $6.1m in the last six months and none bought.
- SoldShawn VadalaChief Financial Officer$3.2mAug 3, 2026
- SoldPatrick KaltenbachPresident and CEO$1.3mAug 27, 2026
- SoldThomas P SaliceDirector$1.2mAug 5, 2026
- SoldGerry KellerHead of Process Analytics$343kAug 3, 2026
Leadership and governance on file
- Aug 3, 2026Leadership change8-K 5.02
- May 13, 2026Leadership change8-K 5.02
- Jan 20, 2026Leadership change8-K 5.02
- Oct 23, 2025Leadership change8-K 5.02
- Aug 4, 2025Leadership change8-K 5.02
- May 12, 2025Leadership change8-K 5.02
- Jun 26, 2024Leadership change8-K 5.02
- Dec 14, 2023Leadership change8-K 5.02
- Nov 13, 2023Leadership change8-K 5.02
- Aug 1, 2023Leadership change8-K 5.02
- Nov 23, 2022Leadership change8-K 5.02
- Nov 8, 2022Leadership change8-K 5.02
Latest shareholder vote results: May 11, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $4.6bn returned to owners in buybacks and dividends, 112% of net income, and $99.7m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $3.7bn | $3.9bn | $3.8bn | $3.9bn | $4.0bn |
| Net income | $769.0m | $872.5m | $788.8m | $863.1m | $869.2m |
| Stock-based pay | $19.6m | $19.7m | $17.9m | $20.0m | $22.5m |
| Buybacks | $1000.0m | $1.1bn | $900.0m | $850.0m | $800.0m |
| Dividends | — | — | — | — | — |
| Diluted shares | 23m | 23m | 22m | 21m | 21m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.