A Business at a Glance
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ITEM 1. BUSINESS Our Company Veralto Corporation’s unifying purpose is Safeguarding the World’s Most Vital ResourcesTM. Our diverse group of leading operating companies provide essential technology solutions that monitor, enhance and protect key resources around the globe. We are committed to the advancement of public health and safety and believe we are positioned to support our customers as they address large global challenges including environmental resource sustainability, water scarcity, management of severe weather events, food and pharmaceutical security, and the impact of an aging workforce. For decades, we have used our scientific expertise and innovative technologies to address complex challenges our customers face across regulated industries – including municipal utilities, food and beverage, pharmaceutical and industrials – where the consequence of failure is high.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.5B | 5.5B | 5.2B | 5.0B | 4.9B | 4.7B |
| Net Income | 940M | 940M | 833M | 839M | 845M | 861M |
| EPS | $3.76 | $3.76 | $3.34 | $3.40 | $3.43 | $3.50 |
| Free Cash Flow | 1.0B | 1.0B | 820M | 909M | 836M | 842M |
| ROIC | 23.0% | 42.2% | 38.1% | 35.1% | 26.1% | 17.7% |
| Gross Margin | 59.9% | 59.9% | 59.8% | 57.8% | 56.7% | 57.7% |
| Debt/Equity | 1.09 | 1.09 | 1.28 | 1.90 | 0.00 | - |
| Dividends/Share | $0.44 | $0.44 | $0.36 | $0.00 | - | - |
| Operating Income | 1.3B | 1.3B | 1.2B | 1.1B | 1.1B | 1.0B |
| Operating Margin | 23.2% | 23.2% | 23.3% | 22.7% | 22.8% | 22.1% |
| ROE | 30.3% | 36.6% | 40.9% | 60.7% | 26.1% | - |
| Shares Outstanding | 250M | 250M | 249M | 247M | 246M | 246M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 4.7B | 4.9B | 5.0B | 5.2B | 5.5B | 5.5B |
| Gross Margin | 57.7% | 56.7% | 57.8% | 59.8% | 59.9% | 59.9% |
| R&D | 244M | 217M | 225M | 253M | 266M | 266M |
| SG&A | 1.4B | 1.4B | 1.5B | 1.6B | 1.8B | 1.8B |
| EBIT | 1.0B | 1.1B | 1.1B | 1.2B | 1.3B | 1.3B |
| Op. Margin | 22.1% | 22.8% | 22.7% | 23.3% | 23.2% | 23.2% |
| Net Income | 861M | 845M | 839M | 833M | 940M | 940M |
| Net Margin | 18.3% | 17.4% | 16.7% | 16.0% | 17.1% | 17.1% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 17.7% | 26.1% | 35.1% | 38.1% | 42.2% | 23.0% |
| ROE | N/A | 26.1% | 60.7% | 40.9% | 36.6% | 30.3% |
| ROA | 17.8% | 17.5% | 14.7% | 13.0% | 13.3% | 12.2% |
| Cash Flow | ||||||
| Op. Cash Flow | 896M | 870M | 963M | 875M | 1.1B | 1.1B |
| Free Cash Flow | 842M | 836M | 909M | 820M | 1.0B | 1.0B |
| Owner Earnings | 756M | 739M | 821M | 732M | 925M | 925M |
| CapEx | 54M | 34M | 54M | 55M | 63M | 63M |
| Maint. CapEx | 106M | 90M | 87M | 78M | 78M | 78M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 106M | 90M | 87M | 78M | 78M | 78M |
| CapEx/OCF | N/A | N/A | 5.6% | 6.3% | 5.8% | 5.8% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 89M | 109M | 109M |
| Dividend Yield | N/A | N/A | N/A | 0.4% | 0.4% | 0.5% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 34M | 41M | 55M | 65M | 74M | 74M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | 0 | 0 | 1.1B | 397M | -689M | 1.3B |
| Cash & Equiv. | 0 | 0 | 762M | 1.1B | 2.0B | 2.0B |
| Long-Term Debt | 0 | 0 | 2.6B | 2.6B | 2.0B | 2.0B |
| Debt/Equity | N/A | 0.00 | 1.90 | 1.28 | 1.09 | 1.09 |
| Interest Coverage | N/A | N/A | 38.0 | 10.7 | 13.3 | 13.3 |
| Equity | 0 | 3.2B | 1.4B | 2.0B | 3.1B | 3.1B |
| Total Assets | 4.8B | 4.8B | 5.7B | 6.4B | 7.7B | 7.7B |
| Total Liabilities | 4.8B | 1.6B | 4.3B | 4.4B | 4.6B | 4.6B |
| Intangibles | 2.5B | 479M | 427M | 535M | 524M | 524M |
| Retained Earnings | N/A | 0 | 178M | 917M | 1.7B | 1.7B |
| Working Capital | N/A | 157M | 808M | 1.1B | 1.4B | 1.4B |
| Current Assets | N/A | 1.3B | 2.1B | 2.4B | 3.4B | 3.4B |
| Current Liabilities | N/A | 1.1B | 1.3B | 1.2B | 2.1B | 2.1B |
| Per Share Data | ||||||
| EPS | 3.50 | 3.43 | 3.40 | 3.34 | 3.76 | 3.76 |
| Owner EPS | 3.07 | 3.00 | 3.33 | 2.94 | 3.70 | 3.70 |
| Book Value | 0.00 | 13.13 | 5.60 | 8.17 | 12.42 | 12.42 |
| Cash Flow/Share | 3.64 | 3.53 | 3.90 | 3.51 | 4.31 | 4.07 |
| Dividends/Share | N/A | N/A | 0.00 | 0.36 | 0.44 | 0.44 |
| Shares Out. | 246.0M | 246.4M | 246.8M | 249.4M | 250.0M | 250.0M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | 24.2 | 30.7 | 27.0 | 24.2 |
| P/FCF | N/A | N/A | 22.4 | 31.2 | 25.1 | 22.4 |
| EV/EBIT | N/A | N/A | 18.8 | 21.5 | 19.4 | 18.8 |
| Price/Book | N/A | N/A | 14.7 | 12.5 | 8.2 | 7.3 |
| Price/Sales | N/A | N/A | 3.6 | 4.7 | 4.6 | 4.1 |
| FCF Yield | N/A | N/A | 4.5% | 3.2% | 4.0% | 4.5% |
| Market Cap | 0 | N/A | 20.3B | 25.6B | 25.4B | 22.7B |
| Avg. Price | 0.00 | N/A | 73.62 | 97.12 | 100.50 | 90.85 |
| Year-End Price | 0.00 | N/A | 82.35 | 102.54 | 101.62 | 90.85 |
Veralto Corp passes 5 of 9 quality checks, suggesting mixed fundamentals.
Veralto Corp trades at 19.5x trailing earnings, compared to its 15-year median P/E of 27.0x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 17.6x vs a median of 25.1x. The company's 5-year average ROIC is 31.8% with a gross margin of 58.4%. Total shareholder yield (dividends) is 0.5%. At current prices, the estimated annualized return to fair value is -0.3%.
Veralto Corp (VLTO) has a current P/E ratio of 19.5, compared to its historical median P/E of 27.0. The stock is currently considered Cheap based on its historical valuation range.
Veralto Corp (VLTO) has a 5-year average return on invested capital (ROIC) of 31.8%. This indicates strong capital allocation and a potential competitive advantage.
Veralto Corp (VLTO) has a market capitalization of $22.7B. It is classified as a large-cap stock.
Yes, Veralto Corp (VLTO) pays a dividend with a trailing twelve-month yield of 0.48%.
Based on historical P/E analysis, Veralto Corp (VLTO) appears cheap. The current P/E of 19.5 is 28% below its historical median of 27.0. The estimated fair value CAGR (P/E method) is 1.0%.
Veralto Corp (VLTO) operates in the Instruments For Meas & Testing Of Electricity & Elec Signals industry, within the Technology sector.
Veralto Corp (VLTO) reported annual revenue of $5.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Veralto Corp (VLTO) has a net profit margin of 17.1%. This is a healthy margin.
Veralto Corp (VLTO) generated $1.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Veralto Corp (VLTO) has a debt-to-equity ratio of 1.09. This indicates moderate leverage.
Veralto Corp (VLTO) reported earnings per share (EPS) of $3.76 in its most recent fiscal year.
Veralto Corp (VLTO) has a return on equity (ROE) of 36.6%. This indicates the company generates strong returns for shareholders.
Veralto Corp (VLTO) has a 5-year average gross margin of 58.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for Veralto Corp (VLTO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Veralto Corp (VLTO) has a book value per share of $12.42, based on its most recent annual SEC filing.
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