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VLTO

Veralto Corporation

VLTO

Veralto Corporation • NYSE
$101.22 ▼ -0.05% (-0.05)
Market Cap $25.11 B
52w High $110.11
52w Low $83.86
Dividend Yield 0.44%
P/E 27.73
Volume 705.57K
Outstanding Shares 248.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.404B ▲ $518M ▲ $239M ▲ 17.023% ▲ $0.96 ▲ $347M ▲
Q2-2025 $1.371B ▲ $509M ▲ $222M ▼ 16.193% ▼ $0.89 ▼ $332M ▼
Q1-2025 $1.332B ▼ $483M ▼ $225M ▼ 16.892% ▲ $0.91 ▼ $335M ▲
Q4-2024 $1.345B ▲ $493M ▲ $227M ▲ 16.877% ▲ $0.92 ▲ $328M ▼
Q3-2024 $1.314B $475M $219M 16.667% $0.89 $330M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.775B ▲ $7.429B ▲ $4.582B ▲ $2.847B ▲
Q2-2025 $1.559B ▲ $7.171B ▲ $4.51B ▲ $2.653B ▲
Q1-2025 $1.239B ▲ $6.645B ▲ $4.336B ▼ $2.302B ▲
Q4-2024 $1.101B ▼ $6.406B ▲ $4.361B ▲ $2.038B ▲
Q3-2024 $1.267B $6.263B $4.303B $1.954B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $239M ▲ $270M ▼ $-12M ▲ $-36M ▼ $216M ▼ $258M ▼
Q2-2025 $222M ▼ $339M ▲ $-40M ▼ $-15M ▲ $320M ▲ $323M ▲
Q1-2025 $225M ▼ $157M ▼ $-11M ▲ $-26M ▼ $138M ▲ $142M ▼
Q4-2024 $227M ▲ $285M ▲ $-394M ▼ $-16M $-166M ▼ $263M ▲
Q3-2024 $219M $224M $-6M $-16M $224M $215M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Revenue from Contract with Customer Measurement Nonrecurring
Revenue from Contract with Customer Measurement Nonrecurring
 $510.00M ▲$1.04Bn ▲$520.00M ▼$530.00M ▲
Revenue from Contract with Customer Measurement Recurring
Revenue from Contract with Customer Measurement Recurring
 $810.00M ▲$1.55Bn ▲$820.00M ▼$840.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Veralto shows a steady pattern of revenue growth over the past several years, with solid gross and operating profitability for an industrial business. The company converts a good share of its sales into operating profit, suggesting strong pricing power and disciplined cost control. However, net income and earnings per share have been mostly flat to slightly slipping recently despite higher sales, which likely reflects separation‑related items, higher interest costs from added debt, and some margin pressure. Overall, the income statement points to a mature, profitable platform with dependable—but not explosive—earnings growth so far.

Balance Sheet

Balance Sheet The balance sheet has expanded, with total assets and cash both rising, which gives Veralto a useful liquidity cushion. At the same time, debt has increased sharply since the spin‑off, leaving the company more leveraged than it was under its prior structure. Reported equity dropped around the time of separation and then recovered somewhat, which is typical of carve‑outs but still means the capital structure now leans more heavily on debt. The key risk is that higher leverage makes the company more sensitive to interest rates and downturns, although its recurring revenue base partly offsets that concern.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently healthy and relatively stable over multiple years, indicating that reported profits translate well into actual cash. Free cash flow is close to operating cash flow because capital spending needs are modest, which fits an asset‑light, high‑margin tool and consumables model. This dependable cash flow helps support debt service and gives Veralto room to keep investing in innovation and bolt‑on acquisitions, even though cash flow growth has been gradual rather than rapid.

Competitive Edge

Competitive Edge Veralto operates in mission‑critical niches—water quality and product quality—where reliability, accuracy, and regulatory compliance are paramount. Its brands are long‑established leaders in their categories, and many of its systems rely on proprietary consumables, software, and services, which raises switching costs and creates a sizable recurring revenue base. The Veralto Enterprise System, inherited from Danaher’s operating philosophy, gives it a structured approach to continuous improvement and integration of acquisitions, adding an execution edge. Key competitive risks include cyclical exposure to industrial and municipal budgets, evolving environmental regulations, and ongoing competition from both global industrial peers and specialized niche players.

Innovation and R&D

Innovation and R&D Innovation is tightly aligned with long‑term themes like water scarcity, stricter environmental rules, product traceability, and digitalization of industrial workflows. In water, Veralto is deepening its capabilities in real‑time monitoring, advanced treatment technologies, and solutions for emerging contaminants, supported by targeted acquisitions and venture investments. In product quality, it continues to advance coding, marking, packaging software, and color management, with a growing emphasis on software, data, and automation that embed it further into customers’ operations. The opportunity is to extend its technology lead and increase the software and analytics component of revenue, while the main risks are integration missteps, technology bets that do not scale, and the need to keep pace with rapid digital change.

Summary

Veralto emerges from its recent spin‑off as a profitable, cash‑generative industrial technology company with strong positions in critical water and product quality markets. Financially, it combines steady top‑line growth, attractive margins, and robust free cash flow, but with earnings that have been more flat than fast‑growing and a balance sheet that is now meaningfully more leveraged. Strategically, its competitive moat is built on trusted brands, high switching costs, recurring consumables and software, and a disciplined operating system. Future performance will depend on how well it manages its higher debt load while continuing to integrate acquisitions, extend its technology leadership, and capture demand driven by regulation, sustainability, and supply‑chain integrity. Overall, it looks more like a durable compounder in essential niches than a high‑volatility growth story, with execution and capital allocation as the main variables to watch.

NEWS

November 25, 2025 · 7:00 AM UTC

Veralto Announces Agreement to Acquire In-Situ and Establishes $750 Million Share Repurchase Program

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November 3, 2025 · 8:15 AM UTC

Veralto Appoints Kim Chainey as Chief Legal Officer

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October 30, 2025 · 6:00 AM UTC

First Close of Emerald Global Water Fund II Reaches EUR 60 Million

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October 28, 2025 · 4:30 PM UTC

Veralto Reports Third Quarter 2025 Results

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October 8, 2025 · 8:00 AM UTC

Veralto Schedules Third Quarter 2025 Earnings Call

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