Intrinsic value of Ametek - AME

Previous Close

$77.00

  Intrinsic Value

$152.09

stock screener

  Rating & Target

str. buy

+98%

Previous close

$77.00

 
Intrinsic value

$152.09

 
Up/down potential

+98%

 
Rating

str. buy

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of AME stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -3.37
  14.80
  13.82
  12.94
  12.14
  11.43
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.63
  6.47
  6.32
  6.19
  6.07
  5.97
  5.87
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
Revenue, $m
  3,840
  4,408
  5,018
  5,667
  6,355
  7,081
  7,845
  8,646
  9,483
  10,358
  11,269
  12,217
  13,204
  14,230
  15,296
  16,403
  17,554
  18,751
  19,995
  21,289
  22,635
  24,036
  25,496
  27,017
  28,602
  30,256
  31,982
  33,783
  35,665
  37,631
  39,686
Variable operating expenses, $m
 
  910
  997
  1,090
  1,188
  1,292
  1,401
  1,515
  1,634
  1,759
  1,889
  1,742
  1,883
  2,029
  2,181
  2,339
  2,503
  2,674
  2,851
  3,036
  3,227
  3,427
  3,635
  3,852
  4,078
  4,314
  4,560
  4,817
  5,085
  5,366
  5,659
Fixed operating expenses, $m
 
  2,319
  2,377
  2,436
  2,497
  2,559
  2,623
  2,689
  2,756
  2,825
  2,896
  2,968
  3,042
  3,118
  3,196
  3,276
  3,358
  3,442
  3,528
  3,616
  3,707
  3,799
  3,894
  3,992
  4,091
  4,194
  4,298
  4,406
  4,516
  4,629
  4,745
Total operating expenses, $m
  3,038
  3,229
  3,374
  3,526
  3,685
  3,851
  4,024
  4,204
  4,390
  4,584
  4,785
  4,710
  4,925
  5,147
  5,377
  5,615
  5,861
  6,116
  6,379
  6,652
  6,934
  7,226
  7,529
  7,844
  8,169
  8,508
  8,858
  9,223
  9,601
  9,995
  10,404
Operating income, $m
  802
  1,179
  1,644
  2,141
  2,670
  3,230
  3,821
  4,442
  5,093
  5,774
  6,485
  7,507
  8,279
  9,082
  9,918
  10,788
  11,693
  12,635
  13,616
  14,637
  15,701
  16,810
  17,966
  19,173
  20,433
  21,748
  23,123
  24,560
  26,064
  27,636
  29,283
EBITDA, $m
  982
  1,546
  2,023
  2,532
  3,075
  3,649
  4,255
  4,892
  5,559
  6,256
  6,985
  7,744
  8,535
  9,358
  10,214
  11,106
  12,033
  12,998
  14,003
  15,049
  16,139
  17,275
  18,460
  19,696
  20,986
  22,334
  23,742
  25,214
  26,754
  28,365
  30,051
Interest expense (income), $m
  0
  72
  90
  110
  131
  154
  177
  202
  228
  255
  283
  313
  344
  376
  409
  444
  480
  517
  556
  596
  638
  682
  727
  775
  824
  875
  929
  985
  1,043
  1,104
  1,168
Earnings before tax, $m
  693
  1,107
  1,553
  2,031
  2,539
  3,077
  3,644
  4,240
  4,865
  5,519
  6,201
  7,194
  7,935
  8,707
  9,509
  10,345
  11,214
  12,118
  13,060
  14,041
  15,063
  16,128
  17,239
  18,398
  19,609
  20,873
  22,194
  23,575
  25,020
  26,532
  28,115
Tax expense, $m
  181
  299
  419
  548
  685
  831
  984
  1,145
  1,314
  1,490
  1,674
  1,942
  2,143
  2,351
  2,568
  2,793
  3,028
  3,272
  3,526
  3,791
  4,067
  4,355
  4,655
  4,968
  5,294
  5,636
  5,992
  6,365
  6,755
  7,164
  7,591
Net income, $m
  512
  808
  1,134
  1,482
  1,853
  2,246
  2,660
  3,096
  3,552
  4,029
  4,527
  5,252
  5,793
  6,356
  6,942
  7,552
  8,186
  8,846
  9,534
  10,250
  10,996
  11,774
  12,585
  13,431
  14,314
  15,237
  16,202
  17,210
  18,265
  19,368
  20,524

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  717
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,101
  7,323
  8,335
  9,413
  10,556
  11,763
  13,032
  14,362
  15,753
  17,206
  18,719
  20,295
  21,933
  23,637
  25,408
  27,248
  29,160
  31,148
  33,214
  35,363
  37,600
  39,928
  42,352
  44,879
  47,512
  50,259
  53,126
  56,119
  59,244
  62,510
  65,924
Adjusted assets (=assets-cash), $m
  6,384
  7,323
  8,335
  9,413
  10,556
  11,763
  13,032
  14,362
  15,753
  17,206
  18,719
  20,295
  21,933
  23,637
  25,408
  27,248
  29,160
  31,148
  33,214
  35,363
  37,600
  39,928
  42,352
  44,879
  47,512
  50,259
  53,126
  56,119
  59,244
  62,510
  65,924
Revenue / Adjusted assets
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
  0.602
Average production assets, $m
  1,940
  2,226
  2,534
  2,862
  3,209
  3,576
  3,962
  4,366
  4,789
  5,231
  5,691
  6,170
  6,668
  7,186
  7,724
  8,284
  8,865
  9,469
  10,097
  10,751
  11,431
  12,138
  12,875
  13,644
  14,444
  15,279
  16,151
  17,061
  18,011
  19,004
  20,042
Working capital, $m
  1,004
  648
  738
  833
  934
  1,041
  1,153
  1,271
  1,394
  1,523
  1,657
  1,796
  1,941
  2,092
  2,248
  2,411
  2,580
  2,756
  2,939
  3,129
  3,327
  3,533
  3,748
  3,971
  4,205
  4,448
  4,701
  4,966
  5,243
  5,532
  5,834
Total debt, $m
  2,342
  2,584
  3,149
  3,751
  4,388
  5,062
  5,770
  6,512
  7,288
  8,099
  8,943
  9,822
  10,737
  11,688
  12,676
  13,702
  14,769
  15,878
  17,031
  18,231
  19,479
  20,778
  22,131
  23,540
  25,010
  26,543
  28,142
  29,812
  31,556
  33,379
  35,284
Total liabilities, $m
  3,844
  4,086
  4,651
  5,253
  5,890
  6,564
  7,272
  8,014
  8,790
  9,601
  10,445
  11,324
  12,239
  13,190
  14,178
  15,204
  16,271
  17,380
  18,533
  19,733
  20,981
  22,280
  23,633
  25,042
  26,512
  28,045
  29,644
  31,314
  33,058
  34,881
  36,786
Total equity, $m
  3,257
  3,237
  3,684
  4,161
  4,666
  5,199
  5,760
  6,348
  6,963
  7,605
  8,274
  8,970
  9,695
  10,448
  11,230
  12,044
  12,889
  13,767
  14,681
  15,631
  16,619
  17,648
  18,720
  19,836
  21,000
  22,215
  23,482
  24,804
  26,186
  27,630
  29,139
Total liabilities and equity, $m
  7,101
  7,323
  8,335
  9,414
  10,556
  11,763
  13,032
  14,362
  15,753
  17,206
  18,719
  20,294
  21,934
  23,638
  25,408
  27,248
  29,160
  31,147
  33,214
  35,364
  37,600
  39,928
  42,353
  44,878
  47,512
  50,260
  53,126
  56,118
  59,244
  62,511
  65,925
Debt-to-equity ratio
  0.719
  0.800
  0.850
  0.900
  0.940
  0.970
  1.000
  1.030
  1.050
  1.060
  1.080
  1.100
  1.110
  1.120
  1.130
  1.140
  1.150
  1.150
  1.160
  1.170
  1.170
  1.180
  1.180
  1.190
  1.190
  1.190
  1.200
  1.200
  1.210
  1.210
  1.210
Adjusted equity ratio
  0.398
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  512
  808
  1,134
  1,482
  1,853
  2,246
  2,660
  3,096
  3,552
  4,029
  4,527
  5,252
  5,793
  6,356
  6,942
  7,552
  8,186
  8,846
  9,534
  10,250
  10,996
  11,774
  12,585
  13,431
  14,314
  15,237
  16,202
  17,210
  18,265
  19,368
  20,524
Depreciation, amort., depletion, $m
  180
  367
  379
  392
  405
  419
  434
  449
  465
  482
  500
  236
  255
  275
  296
  317
  340
  363
  387
  412
  438
  465
  493
  523
  553
  585
  619
  654
  690
  728
  768
Funds from operations, $m
  806
  1,175
  1,513
  1,874
  2,258
  2,665
  3,094
  3,545
  4,017
  4,511
  5,027
  5,488
  6,048
  6,631
  7,238
  7,869
  8,526
  9,209
  9,921
  10,662
  11,434
  12,239
  13,078
  13,954
  14,868
  15,823
  16,820
  17,864
  18,955
  20,096
  21,292
Change in working capital, $m
  49
  84
  90
  95
  101
  107
  112
  118
  123
  129
  134
  139
  145
  151
  157
  163
  169
  176
  183
  190
  198
  206
  215
  224
  233
  243
  254
  265
  277
  289
  302
Cash from operations, $m
  757
  1,092
  1,423
  1,779
  2,157
  2,558
  2,982
  3,427
  3,894
  4,383
  4,893
  5,349
  5,903
  6,480
  7,081
  7,706
  8,357
  9,033
  9,738
  10,472
  11,236
  12,033
  12,863
  13,730
  14,635
  15,580
  16,567
  17,599
  18,678
  19,807
  20,989
Maintenance CAPEX, $m
  0
  -74
  -85
  -97
  -110
  -123
  -137
  -152
  -167
  -183
  -200
  -218
  -236
  -255
  -275
  -296
  -317
  -340
  -363
  -387
  -412
  -438
  -465
  -493
  -523
  -553
  -585
  -619
  -654
  -690
  -728
New CAPEX, $m
  -63
  -286
  -308
  -328
  -348
  -367
  -386
  -404
  -423
  -441
  -460
  -479
  -498
  -518
  -538
  -559
  -581
  -604
  -628
  -653
  -680
  -708
  -737
  -768
  -801
  -835
  -871
  -910
  -950
  -993
  -1,038
Cash from investing activities, $m
  -452
  -360
  -393
  -425
  -458
  -490
  -523
  -556
  -590
  -624
  -660
  -697
  -734
  -773
  -813
  -855
  -898
  -944
  -991
  -1,040
  -1,092
  -1,146
  -1,202
  -1,261
  -1,324
  -1,388
  -1,456
  -1,529
  -1,604
  -1,683
  -1,766
Free cash flow, $m
  305
  731
  1,030
  1,354
  1,700
  2,068
  2,459
  2,871
  3,304
  3,758
  4,232
  4,652
  5,169
  5,707
  6,267
  6,851
  7,458
  8,089
  8,747
  9,431
  10,144
  10,887
  11,661
  12,469
  13,311
  14,191
  15,110
  16,070
  17,074
  18,124
  19,223
Issuance/(repayment) of debt, $m
  457
  521
  565
  602
  638
  673
  708
  742
  776
  810
  845
  879
  914
  951
  988
  1,027
  1,067
  1,109
  1,153
  1,199
  1,248
  1,299
  1,353
  1,410
  1,470
  1,533
  1,600
  1,670
  1,744
  1,822
  1,905
Issuance/(repurchase) of shares, $m
  -336
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  140
  521
  565
  602
  638
  673
  708
  742
  776
  810
  845
  879
  914
  951
  988
  1,027
  1,067
  1,109
  1,153
  1,199
  1,248
  1,299
  1,353
  1,410
  1,470
  1,533
  1,600
  1,670
  1,744
  1,822
  1,905
Total cash flow (excl. dividends), $m
  419
  1,252
  1,595
  1,955
  2,338
  2,742
  3,167
  3,613
  4,080
  4,568
  5,077
  5,531
  6,083
  6,658
  7,256
  7,878
  8,525
  9,199
  9,900
  10,631
  11,392
  12,186
  13,014
  13,878
  14,781
  15,724
  16,709
  17,740
  18,818
  19,947
  21,129
Retained Cash Flow (-), $m
  -2
  -418
  -447
  -477
  -505
  -533
  -561
  -588
  -615
  -642
  -669
  -696
  -724
  -753
  -783
  -813
  -845
  -878
  -913
  -950
  -988
  -1,029
  -1,072
  -1,117
  -1,164
  -1,214
  -1,267
  -1,323
  -1,382
  -1,444
  -1,509
Prev. year cash balance distribution, $m
 
  438
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,273
  1,148
  1,479
  1,832
  2,208
  2,606
  3,025
  3,465
  3,926
  4,408
  4,835
  5,359
  5,905
  6,473
  7,064
  7,680
  8,320
  8,987
  9,681
  10,404
  11,157
  11,942
  12,762
  13,617
  14,510
  15,442
  16,417
  17,437
  18,503
  19,619
Discount rate, %
 
  5.10
  5.36
  5.62
  5.90
  6.20
  6.51
  6.83
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.27
  12.89
  13.53
  14.21
  14.92
  15.66
  16.45
  17.27
  18.13
  19.04
  19.99
  20.99
PV of cash for distribution, $m
 
  1,211
  1,034
  1,255
  1,457
  1,635
  1,785
  1,904
  1,990
  2,042
  2,058
  2,010
  1,964
  1,890
  1,790
  1,669
  1,531
  1,383
  1,229
  1,073
  921
  776
  642
  521
  414
  322
  245
  182
  132
  94
  65
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

AMETEK, Inc. is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets. EIG provides process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor and automation markets. It makes monitoring and metering devices, industrial battery chargers and uninterruptible power supplies, programmable power equipment, electrical test equipment and gas turbine sensors. EMG is a differentiated supplier of precision motion control solutions, thermal management systems, specialty metals and electrical interconnects. Its end markets include medical, automation, petrochemical and other industrial markets. It operates a network of aviation maintenance, repair and overhaul (MRO) facilities.

FINANCIAL RATIOS  of  Ametek (AME)

Valuation Ratios
P/E Ratio 34.5
Price to Sales 4.6
Price to Book 5.4
Price to Tangible Book
Price to Cash Flow 23.3
Price to Free Cash Flow 25.4
Growth Rates
Sales Growth Rate -3.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -8.7%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 63.3%
Total Debt to Equity 71.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 7.4%
Ret/ On Assets - 3 Yr. Avg. 9.3%
Return On Total Capital 9.5%
Ret/ On T. Cap. - 3 Yr. Avg. 11.1%
Return On Equity 15.7%
Return On Equity - 3 Yr. Avg. 17.4%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 35.9%
Gross Margin - 3 Yr. Avg. 35.7%
EBITDA Margin 22.7%
EBITDA Margin - 3 Yr. Avg. 24.8%
Operating Margin 20.9%
Oper. Margin - 3 Yr. Avg. 22%
Pre-Tax Margin 18%
Pre-Tax Margin - 3 Yr. Avg. 19.4%
Net Profit Margin 13.3%
Net Profit Margin - 3 Yr. Avg. 14.2%
Effective Tax Rate 26.1%
Eff/ Tax Rate - 3 Yr. Avg. 26.7%
Payout Ratio 16.2%

AME stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AME stock intrinsic value calculation we used $3840 million for the last fiscal year's total revenue generated by Ametek. The default revenue input number comes from 2016 income statement of Ametek. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AME stock valuation model: a) initial revenue growth rate of 14.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.1%, whose default value for AME is calculated based on our internal credit rating of Ametek, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Ametek.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AME stock the variable cost ratio is equal to 21.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $2262 million in the base year in the intrinsic value calculation for AME stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Ametek.

Corporate tax rate of 27% is the nominal tax rate for Ametek. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AME stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AME are equal to 50.5%.

Life of production assets of 26.1 years is the average useful life of capital assets used in Ametek operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AME is equal to 14.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3257 million for Ametek - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 232.372 million for Ametek is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Ametek at the current share price and the inputted number of shares is $17.9 billion.

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COMPANY NEWS

▶ ETFs with exposure to AMETEK, Inc. : December 12, 2017   [Dec-12-17 12:43PM  Capital Cube]
▶ Ametek Earns Composite Rating Upgrade   [Dec-05-17 03:00AM  Investor's Business Daily]
▶ ETFs with exposure to AMETEK, Inc. : November 30, 2017   [Nov-30-17 01:17PM  Capital Cube]
▶ Five Companies Hit 52-Week Highs   [Nov-21-17 10:36AM  GuruFocus.com]
▶ ETFs with exposure to AMETEK, Inc. : November 20, 2017   [Nov-20-17 11:32AM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : November 9, 2017   [Nov-09-17 11:48AM  Capital Cube]
▶ AMETEK Inc (AME): Poised For Long-Term Success?   [Nov-02-17 04:42PM  Simply Wall St.]
▶ ETFs with exposure to AMETEK, Inc. : October 24, 2017   [Oct-24-17 09:34AM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : October 13, 2017   [Oct-13-17 10:29AM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : September 20, 2017   [Sep-20-17 05:10PM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : September 7, 2017   [Sep-07-17 12:23PM  Capital Cube]
▶ AMETEK, Inc. Value Analysis (NYSE:AME) : August 7, 2017   [Aug-07-17 05:12PM  Capital Cube]
▶ Ametek (AME) Beats on Earnings, Revenues in Q2   [Aug-02-17 12:31PM  Zacks]
▶ The Top Dividend-Growing Healthcare and Industrials Stocks   [Jul-12-17 02:44PM  Market Realist]
▶ ETFs with exposure to AMETEK, Inc. : July 4, 2017   [Jul-04-17 02:31PM  Capital Cube]
▶ ETFs with exposure to AMETEK, Inc. : June 22, 2017   [Jun-22-17 03:19PM  Capital Cube]
Financial statements of AME
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