- In an article embargoed until 9:30AM ET Friday, Ben Axler argues that Ametek's (AME -3%) ability to beat earnings estimates 95% of the time in over a decade raises alarms and that its EBITDA margins appear to be 400-600 bps overstated.
- Axler also points to revenue/inventory accounting concerns and Ametek's irrational premium compared to the sum of its acquired businesses, many of which have no growth and declining margins.