VLTO
NYSE · USDVeralto Corporation
Industrials · Industrial - Pollution & Treatment Controls
CEO Jennifer L. Honeycutt
Employees 17,000
R&D / revenue 4.8%
Last price
$101.04+0.08%last session
Market cap
$24.6B
P/E (TTM)
25.3x
From 52w high
−4.5%
From 52w low
+26.3%
1-year return
−0.8%
RSI 14 · vs SMA200
69.1 · +8.9%
IS score
65.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
VLTO SPY XLI (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe77Profitability
54Growth
46Value
76Momentum
100Risk (safety)
76Quality
73Balance sheet
77Earnings quality
Flags
Strengths
✓ Congress buying
Warnings
None of the computed warning flags fires for VLTO (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: None, Efficient ScalePiotroski 6 / 9Altman Z 4.2Beta 0.763 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
4 open-market sales, $1.5M
Form 144 notices (12m): 7, $4.7M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
8
Last disclosed purchase 2026-06-24
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−49
82 new holders, 120 closed
983 filers hold 97.8% · 321 added, 387 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+171
1,154 funds adding shares
983 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
66.1%
20-day avg 57.4%, 50-day avg 56.0%
Latest 8.7 pp over its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$5.5B
Revenue growth YoY+6.0%
Gross margin59.9%
Operating income$1.3B
Operating margin23.2%
Net income$940.0M
Net margin17.1%
EPS (diluted)$3.76
Cash flow
Operating cash flow$1.1B
Capital expenditure$63.0M
Free cash flow$1.0B
FCF conversion (FCF / OCF)94.2%
Stock-based compensation$74.0M
FCF less SBC$940.0M
Buybacks$0
Dividends$109.0M
Balance sheet & returns
Cash & short-term investments$2.0B
Total debt$2.7B
Net debt$642.0M
Shareholders' equity$3.1B
Goodwill & intangibles$3.4B
Debt / equity1.09
ROE (TTM)32.8%
ROIC (TTM)14.7%
Operating margin by fiscal year
Revenue $4.7B (FY2021) to $5.5B (FY2025), a 4.0% CAGR.
Valuation
P/E (TTM)25.3x
EV / EBITDA18.6x
Price / sales4.32x
Price / FCF23.5x
FCF yield4.25%
Buyback yield0.00%
SBC / revenue1.3%
Price / book8.00x
Forward P/E FY202623.0x
Forward P/E FY202721.1x
Forward P/E FY202819.2x
Forward multiples divide today's price by Street EPS estimates. Street mean target $109.17 across 6 analysts last quarter is theirs, not ours.
VLTO vs industry median
77 companies in Industrial - Pollution & Treatment Controls
VLTO (TTM)Industry median
Asset turnover 0.67 vs industry 0.31 · financial leverage 2.76
Earnings delivery
Next report 2026-10-29 · consensus EPS $1.09100%
beat rate, 12 of 12 quarters
+6.3%
median EPS surprise
12
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-25 to 2026-07-28. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| VLTO Veralto Corporation | $24.6B | 25.3x | 32.8% | 17.3% | +6.0% | −0.8% |
| CECO CECO Environmental Corp. | $3.3B | n/m | -2.3% | -12.2% | +39.0% | +11.4% |
| HUBB Hubbell Incorporated | $24.4B | 27.2x | 24.3% | 14.0% | +10.6% | +7.9% |
| XYL Xylem Inc. | $24.3B | 24.8x | 9.4% | 11.3% | +4.5% | −27.9% |
| ATI ATI Inc. | $25.3B | 53.2x | 26.3% | 12.0% | +8.6% | +128.6% |
| EXPD Expeditors International of | $25.5B | 28.4x | 42.6% | 7.6% | +6.8% | — |
| CPRT Copart, Inc. | $25.8B | 17.9x | 16.2% | 28.4% | +0.4% | — |
| DOV Dover Corporation | $26.4B | 23.4x | 15.0% | 14.3% | +7.6% | — |
12-month window: SPY +15.9%, sector ETF XLI +10.7%. Past returns describe history only.
Recent 8-K filings
2026-07-28Earnings Release; Exhibits
2026-06-01Material Agreement; Other Events; Exhibits
2026-05-14Shareholder Vote; Exhibits
2026-04-28Earnings Release
2026-02-03Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-11-25Other Events
Context
Shares outstanding243,793,350
Free float99.8%
Institutional ownership97.8%
Beta0.76
Dividend yield0.51%
Last dividend$0.13 on 2026-09-30
50 / 200-day average$96.96 / $92.84
Large-cap Industrials median P/E29.8x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (None).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where VLTO sits among 6 scored companies in Industrial - Pollution & Treatment Controls (0 = lowest value, 100 = highest). It is a position, not a grade.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | VLTO | Industry percentile |
|---|---|---|
| P/E (TTM) | 24.9x | |
| PEG (P/E ÷ 3-yr EPS CAGR) | — | |
| Price / sales | 4.3x | 40th |
| Price / book | 8.0x | 100th |
| Price / tangible book | — | |
| Price / free cash flow | 23.5x | |
| Price / operating cash flow | 22.3x | |
| Enterprise value | $25.9B | 100th |
| EV / sales | 4.5x | 40th |
| EV / EBITDA | 18.8x | |
| EV / EBIT | 19.9x | |
| EV / free cash flow | 24.7x | |
| Earnings yield | 4.0% | 80th |
| FCF yield | 4.3% | 80th |
| Operating cash flow yield | 4.5% | 80th |
| Graham number (per share) | $33.76 |
Profitability (TTM)
| Measure | VLTO | Industry percentile |
|---|---|---|
| Gross margin | 60.2% | |
| EBITDA margin | 24.2% | 100th |
| Operating margin | 22.7% | 100th |
| EBIT margin | 22.8% | 100th |
| Net margin | 17.3% | 100th |
| NOPAT margin | 18.6% | 100th |
| FCF margin | 18.4% | 80th |
| Operating cash flow margin | 19.4% | 80th |
| R&D / revenue | 4.8% | 20th |
| SG&A / revenue | 32.6% | 40th |
| Stock comp / revenue | 1.1% | 0th |
| Effective tax rate | 18.3% | 20th |
Returns on capital
| Measure | VLTO | Industry percentile |
|---|---|---|
| ROE (on average equity) | 34.4% | 100th |
| ROA | 12.6% | 100th |
| ROIC | 24.3% | 100th |
| ROCE | 20.0% | 100th |
| Return on tangible assets | 16.5% | 100th |
| Cash ROIC (OCF / invested capital) | 25.3% | 80th |
| Gross profitability (GP / assets) | 40.1% | 100th |
| ROIC, 3-yr average | 21.1% | 100th |
| ROIC, 5-yr average | — | |
| ROE, 5-yr average | — | |
| Incremental ROIC | 28.5% | 40th |
Growth
| Measure | VLTO | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 6.2% | 20th |
| Revenue growth (QoQ) | 3.7% | 0th |
| Revenue CAGR, 3 yr | — | |
| Revenue CAGR, 5 yr | — | |
| Gross profit CAGR, 3 yr | — | |
| Operating income CAGR, 3 yr | — | |
| Net income growth (TTM YoY) | 10.6% | |
| Net income CAGR, 3 yr | — | |
| EPS growth (TTM YoY) | 12.5% | |
| EPS CAGR, 3 yr | — | |
| EPS CAGR, 5 yr | — | |
| FCF growth (TTM YoY) | 11.0% | |
| FCF CAGR, 3 yr | — | |
| Operating cash flow CAGR, 3 yr | — | |
| Book value CAGR, 3 yr | — | |
| Dividend CAGR, 3 yr | — | |
| Sustainable growth rate | 30.2% |
Margin history & stability
| Measure | VLTO | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | 59.7% | |
| Operating margin, 3-yr average | 23.0% | |
| Net margin, 3-yr average | 16.5% | |
| FCF margin, 3-yr average | 17.1% | |
| Revenue stability (0-1) | 0.88 | 80th |
| Earnings stability (0-1) | 0.92 | 100th |
| Margin stability (0-1) | 0.99 |
Liquidity (latest quarter)
| Measure | VLTO | Industry percentile |
|---|---|---|
| Cash & short-term investments | $2.1B | 100th |
| Net cash (− = net debt) | −$1.3B | 0th |
| Working capital | $1.6B | 100th |
| Current ratio | 1.78 | 20th |
| Quick ratio | 1.61 | 20th |
| Cash ratio (cash + ST investments / current liabilities) | 1.03 | 20th |
| Defensive interval (days) | 520 days | 0th |
Leverage & solvency (latest quarter)
| Measure | VLTO | Industry percentile |
|---|---|---|
| Total debt | $3.4B | 100th |
| Debt / equity | 1.09 | 40th |
| Net debt / equity | 0.41 | 40th |
| Debt / assets | 39.5% | 40th |
| Debt / capital | 52.2% | 40th |
| Debt / EBITDA | 2.45 | |
| Net debt / EBITDA | 0.91 | |
| Interest coverage (EBIT / interest) | 14.1x | 100th |
| Cash interest coverage | 12.0x | 100th |
| Debt payback (years of OCF) | 3.1 yrs | |
| Liabilities / assets | 63.8% | 40th |
| IS credit model rating | AA | |
| Implied credit spread (bps) | 80 | 20th |
Efficiency
| Measure | VLTO | Industry percentile |
|---|---|---|
| Asset turnover | 0.72 | 100th |
| Fixed asset turnover | 19.11 | 100th |
| Inventory turnover | 6.8 | 40th |
| Receivables turnover | 6.3 | 100th |
| Days sales outstanding | 58 days | 0th |
| Days inventory outstanding | 54 days | 60th |
| Days payables outstanding | 67 days | 80th |
| Cash conversion cycle (days) | 44 days | 0th |
| Capex / revenue | 1.0% | 0th |
| Capex / depreciation | 0.70 | 20th |
| Operating expense ratio | 39.8% | 0th |
Cash flow & earnings quality
| Measure | VLTO | Industry percentile |
|---|---|---|
| Operating cash flow / net income | 1.12 | |
| FCF / net income | 1.06 | |
| FCF / operating cash flow | 94.9% | |
| Capex / operating cash flow | 5.1% | |
| Accruals ratio | -1.5% | 100th |
| Sloan accruals ratio | -2.1% | 80th |
| Earnings quality score (0-1) | 1.00 |
Scores & forensic checks
| Measure | VLTO | Industry percentile |
|---|---|---|
| IS score | 66 | 100th |
| IS profitability | 77 | 100th |
| IS growth | 54 | 40th |
| IS value | 46 | 100th |
| IS momentum | 76 | 40th |
| IS risk (safety) | 100 | 80th |
| IS quality | 76 | 100th |
| IS balance sheet | 73 | 80th |
| IS earnings quality | 77 | 100th |
| IS cash flow | 65 | 80th |
| Piotroski F-score (0-9) | 6 | 80th |
| Altman Z-score | 4.2 | 80th |
| Beneish M-score | −2.48 | 20th |
| Ohlson O-score | −7.67 | 20th |
| IS credit score | 87 | 80th |
Size (TTM)
| Measure | VLTO | Industry percentile |
|---|---|---|
| Market cap | $24.6B | 100th |
| Revenue | $5.7B | 100th |
| EBITDA | $1.4B | 100th |
| Net income | $988.0M | 100th |
| Free cash flow | $1.0B | 100th |
| Total assets | $8.6B | 100th |
| Shareholders' equity | $3.1B | 100th |
| Employees | 17,000 | 100th |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-08-17 | Trivedi Surekha SVP, Strategy & Sustainability |
Open-market sale | 986 | $97.05 | $95,691 | 8,565 |
| 2026-07-29 | Honeycutt Jennifer Director, President and CEO |
Option exercise | 7,097 | $28.76 | $204,110 | 131,182 |
| 2026-07-29 | Honeycutt Jennifer Director, President and CEO |
Open-market sale | 7,097 | $101.52 | $720,487 | 124,085 |
| 2026-07-29 | Honeycutt Jennifer Director, President and CEO |
Option exercise | 7,097 | $28.76 | $204,110 | 7,098 |
| 2026-07-24 | Williams Thomas Director |
Award / grant | 183 | — | — | 183 |
| 2026-07-24 | Wallis-Lage Cindy L. Director |
Award / grant | 38 | — | — | 38 |
| 2026-07-24 | Mitts Heath A Director |
Award / grant | 154 | — | — | 154 |
| 2026-07-17 | Honeycutt Jennifer Director, President and CEO |
Option exercise | 7,097 | $28.76 | $204,110 | 131,182 |
| 2026-07-17 | Honeycutt Jennifer Director, President and CEO |
Open-market sale | 7,097 | $95.00 | $674,215 | 124,085 |
| 2026-07-17 | Honeycutt Jennifer Director, President and CEO |
Option exercise | 7,097 | $28.76 | $204,110 | 14,195 |
| 2026-07-15 | Filler Linda Director |
Award / grant | 1,009 | — | — | 12,719 |
| 2026-07-15 | Filler Linda Director |
Award / grant | 825 | — | — | 13,544 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 27 | 54,317 | $3.8M |
| Open-market sale | Disposed | 4 | 15,480 | $1.5M |
| Option exercise | Acquired | 2 | 14,194 | $408,219 |
| Option exercise | Disposed | 2 | 14,194 | $408,219 |
| Tax withholding | Disposed | 2 | 3,728 | $336,638 |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
12 months: 7 notices · 49,684 shares · $4.7M| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| 2026-08-17 | Trivedi Surekha | 986 | $95,691 |
| 2026-07-29 | Honeycutt Jennifer | 7,097 | $720,487 |
| 2026-07-17 | Honeycutt Jennifer | 7,097 | $674,215 |
| 2026-03-30 | Stein Sylvia Ann | 10,000 | $862,180 |
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 23 trades (11 purchases) · Senate 0 (0 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-08-21 | Kevin Hern | House | Sale | $1,001 - $15,000 | 2026-09-02 |
| 2026-08-21 | Kevin Hern | House | Sale (Full) | $1,001 - $15,000 | 2026-09-02 |
| 2026-08-20 | Kevin Hern | House | Sale (Full) | $1,001 - $15,000 | 2026-09-02 |
| 2026-08-14 | Kevin Hern | House | Sale | $1,001 - $15,000 | 2026-09-02 |
| 2023-12-05 | Markwayne Mullin | Senate | Sale (Partial) | $1,001 - $15,000 | 2023-12-28 |
| 2023-12-05 | Markwayne Mullin | Senate | Sale (Partial) | $1,001 - $15,000 | 2023-12-27 |
| 2023-12-05 | Markwayne Mullin | Senate | Sale (Partial) | $1,001 - $15,000 | 2023-12-27 |
| 2023-11-29 | Sheldon Whitehouse | Senate | Sale (Full) | $1,001 - $15,000 | 2023-12-07 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| BlackRock, Inc. | 22,647,953 | $2.0B | 9.29% |
| VANGUARD CAPITAL MANAGEMENT LLC | 16,043,210 | $1.4B | 6.58% |
| T. Rowe Price Investment Management, Inc. | 13,712,810 | $1.2B | 5.62% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 12,149,926 | $1.1B | 4.98% |
| STATE STREET CORP | 11,131,069 | $988.5M | 4.57% |
| FIRST TRUST ADVISORS LP | 8,190,187 | $726.3M | 3.36% |
| GEODE CAPITAL MANAGEMENT, LLC | 7,389,874 | $653.0M | 3.03% |
| Invesco Ltd. | 5,536,282 | $491.0M | 2.27% |
| Impax Asset Management Group plc | 5,186,589 | $459.9M | 2.13% |
| GOLDMAN SACHS GROUP INC | 4,041,035 | $358.4M | 1.66% |
| Amundi | 3,531,003 | $313.2M | 1.45% |
| Pictet Asset Management Holding SA | 3,030,189 | $268.7M | 1.24% |
| JPMORGAN CHASE & CO | 2,842,696 | $251.1M | 1.17% |
| NORGES BANK | 2,754,071 | $244.2M | 1.13% |
| Rudius Management LP | 2,572,812 | $228.2M | 1.06% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 983 | 97.8% | 82 | 321 | 387 | 120 |
| 2026-03-31 | 1,032 | 93.9% | 96 | 307 | 413 | 138 |
| 2025-12-31 | 1,090 | 95.1% | 146 | 319 | 432 | 84 |
| 2025-09-30 | 1,054 | 100.7% | 109 | 340 | 381 | 74 |
| 2025-06-30 | 1,037 | 93.5% | 112 | 326 | 419 | 82 |
| 2025-03-31 | 1,020 | 93.3% | 86 | 326 | 416 | 97 |
| 2024-12-31 | 1,049 | 93.6% | 131 | 347 | 387 | 98 |
| 2024-09-30 | 1,038 | 91.7% | 118 | 351 | 391 | 69 |
| 2024-06-30 | 1,001 | 92.3% | 97 | 331 | 404 | 91 |
| 2024-03-31 | 1,010 | 91.0% | 133 | 264 | 448 | 139 |
| 2023-12-31 | 1,032 | 88.0% | 956 | 44 | 26 | 34 |
| 2023-09-30 | 111 | 9.8% | 111 | 0 | 0 | 0 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| 2026-04-30 | SCHEDULE 13G | Vanguard Capital Management | 7.4% | 18,153,412 |
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VITSX | 0.03% | $728.5M |
| VTSAX | 0.03% | $728.5M |
| VSMPX | 0.03% | $728.5M |
| VTI | 0.03% | $728.5M |
| VFFSX | 0.03% | $603.8M |
| VOO | 0.03% | $603.8M |
Share structure
Shares outstanding243,793,350
Float243,246,278
Free float99.8%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $4.7B | $4.9B | $5.0B | $5.2B | $5.5B |
| Cost of revenue | $2.0B | $2.1B | $2.1B | $2.1B | $2.2B |
| Gross profit | $2.7B | $2.8B | $2.9B | $3.1B | $3.3B |
| R&D | $244.0M | $217.0M | $225.0M | $253.0M | $266.0M |
| SG&A | $1.4B | $1.5B | $1.5B | $1.6B | $1.8B |
| Operating income | $1.0B | $1.1B | $1.1B | $1.2B | $1.3B |
| EBITDA | $1.1B | $1.2B | $1.2B | $1.3B | $1.3B |
| Pretax income | $1.0B | $1.1B | $1.1B | $1.1B | $1.2B |
| Income tax | $186.0M | $268.0M | $257.0M | $253.0M | $233.0M |
| Net income | $861.0M | $845.0M | $839.0M | $833.0M | $940.0M |
| EPS, diluted | $3.50 | $3.43 | $3.41 | $3.34 | $3.76 |
| Diluted shares | 246.1M | 246.1M | 246.4M | 249.6M | 250.3M |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $0 | $0 | $762.0M | $1.1B | $2.0B |
| Receivables | $757.0M | $816.0M | $826.0M | $812.0M | $897.0M |
| Inventory | $322.0M | $345.0M | $297.0M | $288.0M | $307.0M |
| Total current assets | $1.2B | $1.3B | $2.1B | $2.4B | $3.4B |
| PP&E, net | $260.0M | $247.0M | $262.0M | $268.0M | $294.0M |
| Goodwill & intangibles | $3.0B | $3.0B | $3.0B | $3.2B | $3.4B |
| Total assets | $4.8B | $4.8B | $5.7B | $6.4B | $7.7B |
| Accounts payable | $464.0M | $440.0M | $431.0M | $395.0M | $416.0M |
| Total current liabilities | $1.1B | $1.1B | $1.3B | $1.2B | $2.1B |
| Long-term debt | $0 | $0 | $2.6B | $2.6B | $2.0B |
| Total liabilities | $1.6B | $1.6B | $4.3B | $4.4B | $4.6B |
| Shareholders' equity | $3.2B | $3.2B | $1.4B | $2.0B | $3.1B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $861.0M | $845.0M | $839.0M | $833.0M | $940.0M |
| Depreciation & amortization | $106.0M | $90.0M | $87.0M | $78.0M | $78.0M |
| Stock-based compensation | $34.0M | $41.0M | $55.0M | $65.0M | $74.0M |
| Change in working capital | −$97.0M | −$106.0M | −$33.0M | −$116.0M | −$27.0M |
| Operating cash flow | $896.0M | $870.0M | $963.0M | $875.0M | $1.1B |
| Capital expenditure | −$54.0M | −$34.0M | −$54.0M | −$55.0M | −$63.0M |
| Free cash flow | $842.0M | $836.0M | $909.0M | $820.0M | $1.0B |
| Investing cash flow | −$97.0M | −$89.0M | −$55.0M | −$434.0M | −$98.0M |
| Net debt issued / repaid | $0 | $0 | $2.6B | $0 | $0 |
| Buybacks | −$800.0M | −$781.0M | −$147.0M | $0 | $0 |
| Dividends paid | $0 | $0 | $0 | −$89.0M | −$109.0M |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2023 | FY2024 | FY2025 | |
|---|---|---|---|
| Gross margin | 57.9% | 59.6% | 59.9% |
| Operating margin | 22.2% | 23.3% | 23.2% |
| Net margin | 15.5% | 16.0% | 17.1% |
| FCF margin | 18.7% | 15.8% | 18.4% |
| ROE | 14.5% | 48.7% | 36.5% |
| ROIC | 6.4% | 25.0% | 27.3% |
| ROA | 3.5% | 13.8% | 13.3% |
| Debt / equity | 2.01 | 1.36 | 0.86 |
| Interest coverage | 11.4x | 10.6x | 13.2x |
| Current ratio | 1.64 | 1.92 | 1.67 |
| Revenue growth | — | +303.2% | +6.0% |
| EPS growth | — | +310.0% | +12.8% |
| P/E at year end | 100.6x | 30.5x | 26.6x |
| EV / EBITDA at year end | 71.9x | 21.2x | 19.0x |
| FCF yield at year end | 1.20% | 3.23% | 4.06% |
| Dividend payout | 0.0% | 10.7% | 11.6% |
Revenue by segment
| FY2024 | FY2025 | |
|---|---|---|
| Revenue from Contract with Customer, Measurement, Recurring | $3.1B | $3.4B |
| Revenue from Contract with Customer, Measurement, Nonrecurring | $2.0B | $2.1B |
Revenue by region · FY2025
All Other Countries$2.4B · 44%
UNITED STATES$2.4B · 44%
CHINA$336.0M · 6%
GERMANY$281.0M · 5%
Street estimates by fiscal year
Next report 2026-10-29 · consensus EPS $1.09 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $5.9B | $5.8B – $5.9B | $4.39 | $4.38 – $4.40 | 8 | 23.0x |
| 2027 | $6.3B | $6.1B – $6.4B | $4.80 | $4.74 – $4.85 | 8 | 21.1x |
| 2028 | $6.6B | $6.4B – $7.2B | $5.27 | $5.16 – $5.37 | 3 | 19.2x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-07-28 | $1.01 | $1.11 | +9.9% | $1.5B | $1.5B | +1.3% |
| 2026-04-28 | $1.02 | $1.07 | +4.9% | $1.4B | $1.4B | +1.6% |
| 2026-02-03 | $0.98 | $1.04 | +6.3% | $1.4B | $1.4B | −0.7% |
| 2025-10-28 | $0.95 | $0.99 | +4.7% | $1.4B | $1.4B | +0.4% |
| 2025-07-28 | $0.88 | $0.93 | +5.4% | $1.3B | $1.4B | +2.0% |
| 2025-04-29 | $0.87 | $0.95 | +9.6% | $1.3B | $1.3B | +4.1% |
| 2025-02-04 | $0.90 | $0.95 | +5.6% | $1.3B | $1.3B | −0.0% |
| 2024-10-23 | $0.85 | $0.89 | +4.7% | $1.3B | $1.3B | +0.7% |
| 2024-07-25 | $0.80 | $0.85 | +6.2% | $1.3B | $1.3B | +0.9% |
| 2024-04-23 | $0.76 | $0.84 | +10.5% | $1.2B | $1.2B | +1.6% |
| 2024-02-06 | $0.81 | $0.87 | +7.4% | $1.2B | $1.3B | +3.1% |
| 2023-10-25 | $0.70 | $0.75 | +7.1% | $1.2B | $1.3B | +4.1% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $312.6M | 3,192,601 | 53,292 |
| 2026-08-24 | $190.2M | 1,928,395 | 52,744 |
| 2026-08-17 | $158.5M | 1,608,207 | 53,090 |
| 2026-08-10 | $159.0M | 1,633,307 | 45,864 |
| 2026-08-03 | $182.4M | 1,896,291 | 52,571 |
| 2026-07-27 | $362.9M | 3,768,908 | 75,081 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 66.1% | 629,104 | 951,143 |
| 2026-10-14 | 53.9% | 395,225 | 732,766 |
| 2026-10-13 | 59.8% | 315,467 | 527,352 |
| 2026-10-12 | 53.2% | 167,977 | 315,549 |
| 2026-10-09 | 60.1% | 219,853 | 365,914 |
| 2026-10-08 | 49.8% | 337,800 | 678,873 |
| 2026-10-07 | 58.7% | 307,463 | 523,495 |
| 2026-10-06 | 54.5% | 253,470 | 464,825 |
| 2026-10-05 | 61.3% | 322,303 | 525,975 |
| 2026-10-02 | 42.0% | 159,461 | 379,672 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| None on file. | |||
History, not a forecast.
Indicators
as of 2026-10-16RSI 1469.1
MFI64.4
ADX17.4
Stochastic %K / %D80.6 / 85.9
Williams %R-28.2
CCI175
TSI / signal19.3 / 5.9
Chaikin money flow0.13
ATR$1.92
Bollinger width8.3%
Volume vs 20-day avg0.87x
SupertrendUp
Moving averages and bands
level (price vs level)SMA 20$96.89 (+4.3%)
SMA 50$96.99 (+4.2%)
SMA 200$92.82 (+8.9%)
EMA 21$97.54 (+3.6%)
EMA 50$96.28 (+4.9%)
EMA 200$94.55 (+6.9%)
Bollinger upper$100.90 (+0.1%)
Bollinger lower$92.88 (+8.8%)
Parabolic SAR$96.32 (+4.9%)
Open the live chart, 110+ indicatorsAbout Veralto Corporation
Veralto Corporation is a global provider specializing in critical solutions across water quality management, brand protection, and packaging aesthetics. Its operations are structured into two primary divisions: Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment delivers advanced instrumentation and treatment technologies designed for the precise measurement, analysis, and purification of water. These solutions cater to a broad spectrum of applications, from residential and commercial settings to municipal systems, industrial processes, research facilities, and natural environments. Esteemed brands like Hach, Trojan Technologies, and ChemTreat fall under this segment, which also supplies essential chemical reagents, support services, and digital tools for comprehensive water management. The PQI segment focuses on enhancing product integrity and brand appeal. It provides critical marking and coding systems for packaged consumer goods and associated consumables. Its offerings extend to comprehensive software for managing digital assets, marketing resources, and product information, alongside inline printing systems for direct application on products and packaging. Furthermore, PQI supplies sophisticated design software and imaging technology for innovative packaging development, as well as color management tools for both printed materials and a wide array of consumer and industrial products. The segment also establishes color standards crucial for the design sector, operating through well-known brands such as Videojet, Linx, Esko, X-Rite, and Pantone. Veralto's diverse clientele includes municipal utility providers, the food and beverage sector, pharmaceutical companies, and various industrial enterprises. Established in 2022, Veralto Corporation, which was previously known as DH EAS Holding Corp. before adopting its current name in February 2023, maintains its corporate headquarters in Waltham, Massachusetts.
https://www.veralto.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Jennifer L. Honeycutt | President, Chief Executive Officer & Director | $4.3M | 1970 |
| Sameer Ralhan | Senior Vice President & Chief Financial Officer | $2.2M | 1974 |
| Mattias Byström | Chief Segment Officer & Senior Vice President of Product Quality & Innovation | $2.1M | 1974 |
| Melissa Kapity | Senior VP & Chief Segment Officer- Water Quality | $1.9M | 1972 |
| Lesley Beneteau | Senior VP & Chief Human Resources Officer | $1.6M | 1973 |
| Kimberly Y. Chainey | Senior Vice President & Chief Legal Officer | $1.1M | 1976 |
| Paxton McVoy | Senior Vice President & Chief Information Officer | — | — |
| Ryan A. Taylor | Vice President of Investor Relations | — | 1976 |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| Jennifer L. Honeycutt President and Chief Executive Officer | 2025 | $1.1M | $8.2M | $2.9M | $14.8M |
| Sameer Ralhan Senior Vice President and Chief Financial Officer | 2025 | $790,000 | $2.5M | $1.3M | $5.3M |
| Mattias Byström Senior Vice President and Chief Segment Officer, Product Quality and Innovation | 2025 | $783,792 | $1.4M | $873,458 | $3.9M |
| Melissa Kapity (formerly Aquino) Senior Vice President and Chief Segment Officer, Water Quality | 2025 | $760,000 | $1.4M | $1.1M | $3.7M |
| Lesley Beneteau (6,7) Senior Vice President and Chief Human Resources Officer | 2025 | $557,683 | $916,074 | $738,467 | $2.8M |
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-09-30 | $0.13 | 2026-10-30 |
| 2026-06-30 | $0.13 | 2026-07-31 |
| 2026-03-31 | $0.13 | 2026-04-30 |
| 2025-12-31 | $0.13 | 2026-01-30 |
| 2025-09-30 | $0.11 | 2025-10-31 |
| 2025-06-30 | $0.11 | 2025-07-31 |
| 2025-03-31 | $0.11 | 2025-04-30 |
| 2024-12-31 | $0.11 | 2025-01-31 |
Moat model
None · Efficient Scale · 2026-07-03Cost advantage30
Intangibles31
Switching costs12
Network effect50
Efficient scale80
Our component scores (0-100) and overall 36.3; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17