AMETEK dividend
AMETEK pays $1.36 per share in the base case for 2027, rising to $1.49 and $1.64. Its free cash flow covers the dividend: dividends used only about 17% of 2025 free cash flow.
How much does AMETEK pay in dividends?
Dividends are $1.36 per share in the base case for 2027, rising to $1.49 and $1.64. The bear case holds at $1.36, while the bull case reaches $1.40, $1.61 and $1.85. The base tempers the historical 12% annual increases because the acquisition raises financing needs. Still, dividends used only about 17% of 2025 free cash flow, which was $1,671.515 million.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 6.40 | 5.93 | 5.67 | 5.01 | 4.25 |
| Real free cash flow per share | 7.02 | 7.12 | 6.71 | 4.16 | 4.31 |
| − Dividends paid, per share | 1.23 | 1.11 | 0.99 | 0.87 | 0.79 |
| − Share buybacks, per share | 1.88 | 0.91 | 0.03 | 1.44 | 0.06 |
Is AMETEK’s dividend covered by its cash?
Across 2021–2025, free cash flow totalled about $7.03 billion. Dividends and buybacks used about $2.16 billion, while acquisitions used about $5.68 billion net of cash acquired. That allocation reveals the central choice: AMETEK returned meaningful cash to owners, but treated acquisitions as the larger engine of growth.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,671,515 | 1,701,773 | 1,599,047 | 1,010,368 | 1,049,786 |
| − Dividends paid | 285,345 | 258,782 | 230,329 | 202,169 | 184,595 |
| − Share buybacks | 434,048 | 212,027 | 7,772 | 332,821 | 14,711 |
| = Free cash flow not paid out | 952,122 | 1,230,964 | 1,360,946 | 475,378 | 850,480 |
| Paid out, % of free cash flow | 43.0% | 27.7% | 14.9% | 53.0% | 19.0% |
What this means. The company's own net debt is slightly different because it rounds its figures, while our calculation uses the exact amounts.
What could change AMETEK’s dividend?
The base case would remain credible if organic demand and acquired sales broadly follow management’s outlook, Indicor remains modestly accretive and operating cash flow supports debt service and measured buybacks.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 1,737 (1,533 / 1,804) | 1,845 (1,536 / 1,995) | 1,937 (1,573 / 2,173) |
| Shares (millions) | 229 (229 / 228) | 229 (229 / 228) | 228 (229 / 227) |
| Dividends per share | 1.36 (1.36 / 1.40) | 1.49 (1.36 / 1.61) | 1.64 (1.36 / 1.85) |
| Price to earnings | 29.00 (24.00 / 33.00) | 28.00 (22.00 / 34.00) | 27.00 (20.00 / 35.00) |
What is AMETEK’s dividend yield against its price?
The table brings these measures together, from the share price and market value to cash yield and dividend yield.
Liquidity and return measures need the same careful reading. The current ratio can look healthy because it includes receivables and inventory, while return on equity can be distorted by goodwill and share repurchases. The dividend yield is only a small part of AMETEK’s capital allocation; acquisitions matter more.