Veralto Corporation (VLTO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.01	$1.11	+9.9%	—	$1.5B	—
Q1 26	$1.01	$1.07	+5.9%	—	$1.4B	—
Q4 25	$0.98	$1.04	+6.1%	—	$1.4B	—
Q3 25	$0.95	$0.99	+4.2%	—	$1.4B	—
Q2 25	$0.88	$0.93	+5.7%	—	$1.4B	—
Q1 25	$0.87	$0.95	+9.2%	—	$1.3B	—
Q4 24	$0.89	$0.95	+6.7%	—	$1.3B	—
Q3 24	$0.85	$0.89	+4.7%	—	$1.3B	—
Q2 24	$0.8	$0.85	+6.2%	—	$1.3B	—
Q1 24	$0.76	$0.84	+10.5%	—	$1.2B	—
Q4 23	$0.81	$0.87	+7.4%	—	$1.3B	—
Q3 23	$0.7	$0.75	+7.1%	—	$1.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.79	—	—	$5.5B	—
FY24	—	$3.37	—	—	$5.2B	—
FY23	—	$3.41	—	—	$5B	—
FY22	—	$3.46	—	—	$4.9B	—
FY21	—	$3.52	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$4.3B	$4.7B	$4.9B	$5B	$5.2B	$5.5B
YoY change	—	+8.1%	+3.62%	+3.1%	+3.43%	+5.97%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	4.3B	4.7B	4.9B	5B	5.2B	5.5B
Cost of revenue	1.8B	2B	2.1B	2.1B	2.1B	2.2B
Gross profit	2.5B	2.7B	2.8B	2.9B	3.1B	3.3B
Gross margin	57.7%	57.7%	56.7%	57.8%	59.8%	59.9%
Research & development	219M	244M	217M	225M	253M	266M
Selling, general & administrative	1.3B	1.4B	1.4B	1.5B	1.6B	1.8B
Operating expenses	1.6B	1.7B	1.6B	1.8B	1.9B	2B
Operating income	951M	1B	1.1B	1.1B	1.2B	1.3B
Operating margin	21.9%	22.1%	22.8%	22.7%	23.3%	23.2%
Non-operating income, net	-1M	6M	1M	-14M	-9M	-8M
Pretax income	950M	1B	1.1B	1.1B	1.1B	1.2B
Income tax	226M	186M	268M	257M	253M	233M
Net income	724M	861M	845M	839M	833M	940M
Net margin	16.7%	18.3%	17.4%	16.7%	16%	17.1%
EBITDA	1.1B	1.2B	1.2B	1.2B	1.3B	1.4B
EPS	2.96	3.52	3.46	3.41	3.37	3.79
Diluted EPS	2.93	3.49	3.43	3.4	3.34	3.76

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1.3B	1.3B	1.2B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.4B	1.4B	1.5B
Cost of revenue	532M	542M	499M	514M	531M	544M	527M	549M	560M	568M	568M	572M
Gross profit	723M	746M	747M	774M	783M	801M	805M	822M	844M	828M	854M	902M
Gross margin	57.6%	57.9%	60%	60.1%	59.6%	59.6%	60.4%	60%	60.1%	59.3%	60.1%	61.2%
Research & development	55M	57M	60M	61M	63M	69M	64M	67M	67M	68M	68M	73M
Selling, general & administrative	395M	403M	394M	414M	412M	424M	419M	442M	451M	444M	448M	514M
Operating expenses	450M	460M	454M	475M	475M	493M	483M	509M	518M	512M	516M	587M
Operating income	273M	286M	293M	299M	308M	308M	322M	313M	326M	316M	338M	315M
Operating margin	21.8%	22.2%	23.5%	23.2%	23.4%	22.9%	24.2%	22.8%	23.2%	22.6%	23.8%	21.4%
Non-operating income, net	—	0	-15M	1M	5M	0	-6M	—	1M	-3M	7M	1M
Pretax income	268M	261M	250M	270M	286M	280M	289M	285M	306M	293M	321M	289M
Income tax	63M	61M	66M	67M	67M	53M	64M	63M	67M	39M	67M	48M
Net income	205M	200M	184M	203M	219M	227M	225M	222M	239M	254M	254M	241M
Net margin	16.3%	15.5%	14.8%	15.8%	16.7%	16.9%	16.9%	16.2%	17%	18.2%	17.9%	16.4%
EBITDA	294M	308M	299M	320M	330M	328M	335M	332M	347M	333M	369M	345M
EPS	0.83	0.81	0.75	0.82	0.89	0.92	0.91	0.89	0.96	1.02	1.03	0.98
Diluted EPS	0.83	0.81	0.74	0.81	0.88	0.91	0.9	0.89	0.95	1.01	1.02	0.98

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	20.3B	25.2B	24.8B	23.5B
Enterprise value	—	—	—	22.3B	26.9B	25.6B	25.2B
Shares outstanding	244.5M	244.5M	244.5M	246.4M	247.3M	248.3M	248.3M

Valuation

Metric	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	24.2	30.2	26.4	24.5
P/S	—	—	—	4.04	4.85	4.5	4.16
P/B	—	—	—	14.6	12.3	7.98	7.66
EV/EBITDA	—	—	—	18.4	21	18.9	18.1
EV/Sales	—	—	—	4.44	5.17	4.66	4.42
Earnings yield	—	—	—	4.14%	3.31%	3.79%	4.09%
FCF yield	—	—	—	4.48%	3.26%	4.09%	3.44%
PEG	—	—	—	—	—	—	2.42

Profitability

Metric	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	57.7%	57.7%	56.7%	57.8%	59.8%	59.9%	61.2%
Operating margin	21.9%	22.1%	22.8%	22.7%	23.3%	23.2%	21.4%
Net margin	16.7%	18.3%	17.4%	16.7%	16%	17.1%	17.3%
ROE	—	26.9%	26.1%	60.4%	40.7%	30.3%	34.3%
ROA	—	17.8%	17.5%	14.7%	13%	12.2%	10.3%
ROIC	—	25.7%	25.1%	25.6%	25%	25.9%	24.3%
Return on tangible assets	—	-70%	-77.9%	-369.6%	-1.7K%	97%	173.9%

Financial health

Metric	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	1.07	1.14	1.64	1.92	1.67	1.77
Quick ratio	—	0.79	0.83	1.4	1.69	1.52	1.61
Debt / equity	—	0.04	0.04	2	1.35	0.93	1.16
Debt / assets	—	0.03	0.03	0.49	0.43	0.37	0.39
Net debt / EBITDA	—	—	0.1	1.66	1.3	0.62	0.9
Interest coverage	—	—	—	37.5	10.6	13.2	14.1
Effective tax rate	23.8%	17.8%	24.1%	23.4%	23.3%	19.9%	18.3%

Per share

Metric	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	17.8	19.2	19.9	20.4	21	22.2	23
EPS (basic)	2.96	3.52	3.46	3.41	3.37	3.79	3.79
EPS (diluted)	2.93	3.49	3.43	3.4	3.34	3.76	3.97
Book value per share	—	13.1	13.3	5.64	8.27	12.5	12.7
FCF per share	3.95	3.44	3.42	3.69	3.32	4.08	4.26
Cash per share	—	—	0	3.09	4.45	8.18	8.69
Capex per share	0.15	0.22	0.14	0.21	0.22	—	—

Capital allocation

Metric	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.83%	1.15%	0.7%	1.04%	1.06%	—	—
Capex / operating cash flow	4.13%	5.59%	4.1%	5.15%	6.26%	—	—
Payout ratio	—	—	0%	0%	10.7%	11.6%	12.6%
Dividend yield	—	—	—	0%	0.35%	0.44%	0.54%

Yield

0.54%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.13

ex-dividend Jun 30, 2026

Payout ratio

13%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.13
Mar 31, 2026	$0.13
Dec 31, 2025	$0.13
Sep 30, 2025	$0.11
Jun 30, 2025	$0.11
Mar 31, 2025	$0.11
Dec 31, 2024	$0.11
Sep 27, 2024	$0.09

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	—	0	762M	1.1B	2B
Receivables	757M	816M	826M	812M	897M
Inventory	322M	345M	297M	288M	307M
Total current assets	1.2B	1.3B	2.1B	2.4B	3.4B
Property, plant & equipment	58M	48M	60M	60M	65M
Goodwill & intangibles	6.1B	5.9B	5.9B	6.5B	6.7B
Total assets	4.8B	4.8B	5.7B	6.4B	7.7B
Accounts payable	464M	440M	431M	395M	416M
Short-term debt	34M	32M	33M	39M	748M
Total current liabilities	1.1B	1.1B	1.3B	1.2B	2.1B
Long-term debt	101M	91M	2.7B	2.7B	2.1B
Total liabilities	1.6B	1.6B	4.3B	4.4B	4.6B
Shareholders' equity	3.2B	3.2B	1.4B	2B	3.1B
Total debt	135M	123M	2.8B	2.8B	2.9B
Net debt	—	123M	2B	1.7B	848M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	426M	762M	827M	1B	1.3B	1.1B	1.2B	1.6B	1.8B	2B	1.4B	2.1B
Receivables	816M	826M	815M	803M	839M	812M	832M	878M	875M	897M	922M	921M
Inventory	316M	297M	308M	312M	326M	288M	310M	329M	340M	307M	332M	336M
Total current assets	1.7B	2.1B	2.1B	2.3B	2.6B	2.4B	2.6B	3B	3.2B	3.4B	2.9B	3.7B
Property, plant & equipment	-462M	60M	-474M	-481M	-491M	60M	-494M	-517M	-529M	65M	-533M	—
Goodwill & intangibles	5.8B	5.9B	5.8B	5.8B	5.9B	6.5B	6.5B	6.7B	6.7B	6.7B	7.6B	8B
Total assets	5.2B	5.7B	5.7B	5.9B	6.3B	6.4B	6.6B	7.2B	7.4B	7.7B	7.7B	8.6B
Accounts payable	354M	431M	402M	397M	424M	395M	407M	411M	400M	416M	426M	425M
Short-term debt	—	33M	—	—	—	39M	—	—	700M	748M	700M	700M
Total current liabilities	1B	1.3B	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B	2B	2.1B	2B	2.1B
Long-term debt	2.6B	2.7B	2.6B	2.6B	2.6B	2.7B	2.6B	2.7B	2B	2.1B	2B	2.7B
Total liabilities	4.1B	4.3B	4.2B	4.2B	4.3B	4.4B	4.3B	4.5B	4.6B	4.6B	4.6B	5.5B
Shareholders' equity	1B	1.4B	1.5B	1.7B	2B	2B	2.3B	2.7B	2.8B	3.1B	3B	3.1B
Total debt	2.6B	2.8B	2.6B	2.6B	2.6B	2.8B	2.6B	2.7B	2.7B	2.9B	2.7B	3.4B
Net debt	2.2B	2B	1.8B	1.6B	1.4B	1.7B	1.4B	1.1B	897M	848M	1.2B	1.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY20	FY21	FY22	FY23	FY24	FY25
Net income	724M	861M	845M	839M	833M	940M
Depreciation & amortization	110M	106M	90M	87M	78M	78M
Stock-based compensation	30M	34M	41M	55M	65M	74M
Change in working capital	8M	-35M	-147M	28M	-97M	-97M
Operating cash flow	872M	966M	829M	1B	879M	1.1B
Capital expenditure	-36M	-54M	-34M	-52M	-55M	—
Investing cash flow	-157M	-97M	-89M	-55M	-434M	-35M
Dividends paid	—	—	0	0	-89M	-109M
Share repurchases	-844M	-800M	-781M	-147M	0	0
Financing cash flow	-844M	-799M	-781M	-139M	-89M	-124M
Net change in cash	-129M	70M	-41M	815M	356M	918M
Free cash flow	965M	842M	836M	909M	820M	1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	205M	200M	184M	203M	219M	227M	225M	222M	239M	254M	254M	241M
Depreciation & amortization	21M	22M	21M	20M	17M	20M	19M	19M	20M	20M	24M	29M
Stock-based compensation	13M	20M	15M	20M	17M	13M	16M	24M	21M	13M	16M	24M
Change in working capital	-38M	112M	-35M	2M	-10M	20M	-19M	-37M	-20M	28M	-30M	4M
Operating cash flow	201M	354M	200M	245M	243M	280M	247M	228M	270M	311M	182M	340M
Capital expenditure	-9M	-22M	-13M	-11M	-9M	-22M	-15M	-16M	—	—	—	—
Investing cash flow	-14M	-22M	-23M	-11M	-6M	-31M	-11M	-40M	0	-15M	-427M	-194M
Dividends paid	0	—	-22M	-22M	-23M	-22M	-27M	-27M	-28M	-27M	-32M	-32M
Share repurchases	198M	93M	—	—	0	0	—	—	—	—	-300M	-134M
Financing cash flow	198M	93M	-20M	-13M	-16M	-22M	-27M	-27M	-21M	-27M	-332M	-166M
Net change in cash	385M	425M	157M	221M	221M	227M	209M	161M	249M	269M	-577M	-20M
Free cash flow	232M	241M	102M	240M	215M	263M	142M	323M	258M	291M	170M	328M

Veralto Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement