Veralto VLTO · USD
Industrials · Commercial Services & Supplies · US listing · 🇺🇸 United States
S&P 500
118.06
+0.83%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$5.50bn
FY2020FY2025
Net income
$940.0m
FY2020FY2025
Free cash flow
$1.01bn
FY2020FY2025
Shareholders' equity
$3.10bn
FY2020FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | $5.50bn | $5.19bn | $5.02bn | $4.87bn | $4.70bn | $4.35bn |
| Gross profit | $3.30bn | $3.10bn | $2.90bn | $2.77bn | $2.71bn | $2.51bn |
| Research and development | $266.0m | $253.0m | $225.0m | $217.0m | $244.0m | $219.0m |
| Operating income | $1.28bn | $1.21bn | $1.14bn | $1.11bn | $1.04bn | $951.0m |
| Net income | $940.0m | $833.0m | $839.0m | $845.0m | $861.0m | $724.0m |
| Diluted earnings per share | 3.75 | 3.33 | 3.41 | 3.43 | 3.50 | 2.94 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Total assets | $7.69bn | $6.41bn | $5.69bn | $4.83bn | $4.84bn | — |
| Cash and short-term investments | $2.03bn | $1.10bn | $762.0m | −$123.0m | −$135.0m | — |
| Total liabilities | $4.59bn | $4.36bn | $4.30bn | $1.58bn | $1.64bn | — |
| Debt | $2.67bn | $2.60bn | $2.63bn | — | — | — |
| Shareholders' equity | $3.10bn | $2.04bn | $1.38bn | $3.24bn | $3.20bn | — |
| Shares outstanding | 251m | 250m | 246m | 246m | 246m | 246m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Cash from operations | $1.08bn | $875.0m | $963.0m | $870.0m | $896.0m | $1.00bn |
| Capital spending | −$63.0m | −$55.0m | −$54.0m | −$34.0m | −$54.0m | −$36.0m |
| Free cash flow | $1.01bn | $820.0m | $909.0m | $836.0m | $842.0m | $965.0m |
| Dividends paid | −$109.0m | −$89.0m | −$147.0m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Oct 2025 | Jul 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.47bn | $1.42bn | $1.40bn | $1.40bn | $1.37bn | $1.33bn | $1.34bn | $1.31bn |
| Gross profit | $902.0m | $854.0m | $828.0m | $844.0m | $822.0m | $805.0m | $801.0m | $783.0m |
| Operating income | $315.0m | $338.0m | $316.0m | $326.0m | $313.0m | $322.0m | $308.0m | $308.0m |
| Net income | $241.0m | $254.0m | $254.0m | $239.0m | $222.0m | $225.0m | $227.0m | $219.0m |
| Diluted earnings per share | 0.98 | 1.03 | 1.01 | 0.95 | 0.89 | 0.90 | 0.91 | 0.88 |
| Cash from operations | $340.0m | $182.0m | $311.0m | $270.0m | $339.0m | $157.0m | $285.0m | $224.0m |
| Capital spending | −$12.0m | −$12.0m | −$20.0m | −$12.0m | −$16.0m | −$15.0m | −$22.0m | −$9.0m |
| Free cash flow | $328.0m | $170.0m | $291.0m | $258.0m | $323.0m | $142.0m | $263.0m | $215.0m |
| Total assets | $8.56bn | $7.65bn | $7.69bn | $7.43bn | $7.17bn | $6.64bn | $6.41bn | $6.26bn |
| Cash and short-term investments | $2.12bn | $1.43bn | $2.03bn | $1.77bn | $1.56bn | $1.24bn | $1.10bn | $1.27bn |
| Debt | $3.38bn | $2.66bn | $2.67bn | $2.67bn | $2.67bn | $2.63bn | $2.64bn | $2.64bn |
| Shareholders' equity | $3.10bn | $3.00bn | $3.10bn | $2.85bn | $2.65bn | $2.30bn | $2.04bn | $1.95bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 59.9% | 59.8% | 57.8% | 56.9% | 57.7% | 57.7% |
| Operating margin | 23.2% | 23.3% | 22.7% | 22.9% | 22.1% | 21.9% |
| Net margin | 17.1% | 16.0% | 16.7% | 17.4% | 18.3% | 16.7% |
| Return on equity | 30.3% | 40.9% | 60.7% | 26.1% | 26.9% | — |
| Return on assets | 12.2% | 13.0% | 14.7% | 17.5% | 17.8% | — |
| Free cash flow yield | 4.7% | 3.9% | 4.3% | 3.8% | 4.0% | — |
| Revenue growth | 6.0% | 3.4% | 3.1% | 3.6% | 8.1% | — |
| Earnings growth | 12.8% | -0.7% | -0.7% | -1.9% | 18.9% | — |
| Current ratio | 1.67x | 1.92x | 1.64x | 1.14x | 1.07x | — |
| Debt to equity | 0.86x | 1.29x | 1.92x | 0.01x | 0.01x | — |
| Equity ratio | 40.4% | 31.8% | 24.3% | 67.2% | 66.1% | — |
| Interest coverage | 13.30x | 10.69x | 38.00x | 7.62x | — | — |
| R&D as a share of sales | 4.8% | 4.9% | 4.5% | 4.5% | 5.2% | 5.0% |
| Buybacks as a share of market value | -0.1% | -1.6% | -0.1% | -0.0% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.2% | 4.8% | — |
| Operating income | 4.7% | 6.1% | — |
| Net income | 3.6% | 5.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 59.9% | 58.6% | 58.4% | — |
| Operating margin | 23.2% | 23.0% | 22.7% | — |
| Net margin | 16.6% | 16.8% | 17.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Price to earnings | 26.6 | 30.6 | 24.2 |
| Price to sales | 4.5 | 4.9 | 4.0 |
Market value over time
29 Sept 2023 to 24 Sept 2026, in USD
$20.80bn$23.65bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Return | -0% | 21% | -2% |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 30 Sept 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.39 | 0.46 | 0.38 | 0.09 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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