Page 14 - AMETEK 2018 Annual Report FINAL

Strong Cash Flow Generation

Through AMETEK’s asset-
light business model and solid
execution across its Operational
Excellence, New Product

Development and Global and
Market Expansion strategies,
AMETEK’s businesses drive

strong and consistent cash
generation.

With a disciplined focus on working capital and
asset management, AMETEK achieved a record
$926 million in operating cash flow in 2018, an
11% increase over the prior year. This strong
level of cash flow supported $80 million of
incremental investments toward internal growth
initiatives which included research, development
and engineering, along with sales and marketing
efforts.

AMETEK finished the year with an outstanding
$843 million in free cash flow. As a percentage
of earnings, AMETEK’s free cash flow conversion
was an impressive 110%.

This level of free cash flow supports the
company’s capital deployment strategy,
ultimately driving AMETEK’s long-term growth.

$843
$758
$694
$655
$597 $603
$555
$458
$384
$332

09 10 11 12 13 14 15 16 17 18
Free Cash Flow
(In millions)

12 Strong Cash Flow Generation

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