NYSE : VLTO
Veralto Corporation — Financial statements
Industrials · Pollution & Treatment Controls · United States
Last price 104.06 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 25.37B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Veralto Corporation (VLTO) reported revenue of 5.80B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 5.80B | 5.50B | 5.19B | 5.02B | 4.87B | 4.70B |
| Cost of Revenue | 2.33B | 2.20B | 2.09B | 2.12B | 2.11B | 1.99B |
| Gross Profit | 3.47B | 3.30B | 3.10B | 2.90B | 2.76B | 2.71B |
| Selling, General & Admin | 1.95B | 1.75B | 1.64B | 1.52B | 1.42B | 1.43B |
| Research & Development | 278.00M | 266.00M | 253.00M | 225.00M | 217.00M | 244.00M |
| Operating Expenses | 2.22B | 2.02B | 1.90B | 1.75B | 1.64B | 1.67B |
| Operating Income | 1.25B | 1.28B | 1.21B | 1.15B | 1.12B | 1.04B |
| Interest Expense | -96.00M | -96.00M | -113.00M | -30.00M | ||
| EBT Excluding Unusual Items | 1.15B | 1.18B | 1.10B | 1.12B | 1.12B | 1.04B |
| Gain (Loss) on Sale of Investments | -4.00M | -4.00M | -15.00M | |||
| Gain (Loss) on Sale of Assets | -6.00M | -10.00M | 8.00M | |||
| Asset Writedown | -12.00M | -9.00M | ||||
| Pretax Income | 1.18B | 1.17B | 1.09B | 1.10B | 1.11B | 1.05B |
| Income Tax Expense | 174.00M | 233.00M | 253.00M | 257.00M | 268.00M | 186.00M |
| Net Income | 1.00B | 940.00M | 833.00M | 839.00M | 845.00M | 861.00M |
| Net Income to Common | 1.00B | 940.00M | 833.00M | 839.00M | 845.00M | 861.00M |
| Shares Outstanding (Basic) | 246.35M | 248.30M | 247.30M | 246.40M | 246.30M | 246.30M |
| Shares Outstanding (Diluted) | 247.75M | 250.30M | 249.60M | 246.80M | 246.30M | 246.30M |
| EPS (Basic) | 4.07 | 3.79 | 3.37 | 3.41 | 3.43 | 3.50 |
| EPS (Diluted) | 4.05 | 3.76 | 3.34 | 3.40 | 3.43 | 3.50 |
| Free Cash Flow | 1.09B | 1.01B | 820.00M | 909.00M | 836.00M | 842.00M |
| Free Cash Flow Per Share | 4.41 | 4.05 | 3.29 | 3.68 | 3.39 | 3.42 |
| Dividend Per Share | 0.52 | 0.46 | 0.38 | 0.09 | ||
| Gross Margin | 59.84% | 59.95% | 59.79% | 57.78% | 56.67% | 57.72% |
| Operating Margin | 21.50% | 23.24% | 23.28% | 22.96% | 23.04% | 22.11% |
| Profit Margin | 17.27% | 17.08% | 16.04% | 16.71% | 17.35% | 18.32% |
| Free Cash Flow Margin | 18.84% | 18.43% | 15.79% | 18.10% | 17.17% | 17.91% |
| EBITDA | 1.35B | 1.36B | 1.29B | 1.24B | 1.21B | 1.15B |
| EBITDA Margin | 23.24% | 24.66% | 24.78% | 24.70% | 24.89% | 24.36% |
| D&A For EBITDA | 101.00M | 78.00M | 78.00M | 87.00M | 90.00M | 106.00M |
| EBIT | 1.25B | 1.28B | 1.21B | 1.15B | 1.12B | 1.04B |
| EBIT Margin | 21.50% | 23.24% | 23.28% | 22.96% | 23.04% | 22.11% |
| Effective Tax Rate | 14.80% | 19.86% | 23.30% | 23.45% | 24.08% | 17.77% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.78B | 2.03B | 1.10B | 762.00M | ||
| Cash & Short-Term Investments | 1.78B | 2.03B | 1.10B | 762.00M | ||
| Receivables | 927.00M | 897.00M | 812.00M | 826.00M | 816.00M | 757.00M |
| Inventory | 340.00M | 307.00M | 288.00M | 297.00M | 345.00M | 322.00M |
| Prepaid Expenses | 180.00M | 141.00M | 110.00M | 105.00M | 102.00M | 98.00M |
| Other Current Assets | 94.00M | 56.00M | 76.00M | 83.00M | 17.00M | 28.00M |
| Total Current Assets | 3.33B | 3.43B | 2.39B | 2.07B | 1.28B | 1.21B |
| Property, Plant & Equipment | 493.00M | 489.00M | 427.00M | 406.00M | 364.00M | 391.00M |
| Goodwill | 3.20B | 2.84B | 2.69B | 2.53B | 2.48B | 2.50B |
| Other Intangible Assets | 820.00M | 524.00M | 535.00M | 427.00M | 479.00M | 533.00M |
| Long-Term Deferred Tax Assets | 368.00M | 309.00M | 210.00M | 202.00M | 186.00M | |
| Other Long-Term Assets | 384.00M | 42.00M | 55.00M | 44.00M | 24.00M | 23.00M |
| Total Assets | 8.22B | 7.69B | 6.41B | 5.69B | 4.83B | 4.84B |
| Accounts Payable | 444.00M | 416.00M | 395.00M | 431.00M | 440.00M | 464.00M |
| Accrued Expenses | 946.00M | 271.00M | 244.00M | 184.00M | 243.00M | 256.00M |
| Current Portion of Long-Term Debt | 249.00M | 700.00M | ||||
| Current Portion of Leases | 48.00M | 39.00M | 33.00M | 32.00M | 34.00M | |
| Current Income Taxes Payable | 101.00M | 77.00M | 139.00M | 66.00M | 58.00M | |
| Current Unearned Revenue | 267.00M | 237.00M | 208.00M | 192.00M | 175.00M | |
| Other Current Liabilities | 253.00M | 253.00M | 270.00M | 150.00M | 134.00M | |
| Total Current Liabilities | 1.64B | 2.06B | 1.25B | 1.26B | 1.12B | 1.12B |
| Long-Term Debt | 2.68B | 1.97B | 2.60B | 2.63B | ||
| Long-Term Leases | 196.00M | 158.00M | 129.00M | 115.00M | 91.00M | 101.00M |
| Long-Term Unearned Revenue | 20.00M | 17.00M | 15.00M | 14.00M | 13.00M | |
| Pension & Post-Retirement Benefits | 13.00M | 54.00M | ||||
| Other Long-Term Liabilities | 476.00M | 380.00M | 371.00M | 280.00M | 344.00M | 350.00M |
| Total Liabilities | 4.99B | 4.59B | 4.36B | 4.30B | 1.58B | 1.64B |
| Common Stock | 2.00M | 2.00M | 2.00M | 2.00M | 4.19B | 4.08B |
| Additional Paid-In Capital | 2.35B | 2.27B | 2.19B | 2.16B | ||
| Retained Earnings | 2.40B | 1.74B | 917.00M | 178.00M | ||
| Comprehensive Income & Other | -986.00M | -913.00M | -1.07B | -954.00M | -954.00M | -887.00M |
| Total Common Equity | 3.23B | 3.10B | 2.04B | 1.38B | 3.23B | 3.20B |
| Minority Interest | 1.00M | 1.00M | 7.00M | 6.00M | 5.00M | 4.00M |
| Shareholders' Equity | 3.23B | 3.11B | 2.04B | 1.39B | 3.24B | 3.20B |
| Total Liabilities & Equity | 8.22B | 7.69B | 6.41B | 5.69B | 4.83B | 4.84B |
| Total Debt | 3.12B | 2.88B | 2.77B | 2.78B | 123.00M | 135.00M |
| Net Cash (Debt) | -1.34B | -848.00M | -1.67B | -2.02B | -123.00M | -135.00M |
| Net Cash Per Share | -5.41 | -3.39 | -6.67 | -8.16 | -0.50 | -0.55 |
| Filing Date Shares Outstanding | 243.14M | 247.84M | 247.55M | 246.54M | 246.30M | |
| Total Common Shares Outstanding | 243.40M | 248.40M | 247.40M | 246.40M | 246.30M | |
| Working Capital | 1.69B | 1.38B | 1.14B | 808.00M | 157.00M | 84.00M |
| Book Value Per Share | 13.27 | 12.50 | 8.24 | 5.61 | ||
| Tangible Book Value | -789.00M | -257.00M | -1.19B | -1.58B | 280.00M | 162.00M |
| Tangible Book Value Per Share | -3.24 | -1.03 | -4.81 | -6.40 | ||
| Land | 18.00M | 16.00M | 15.00M | 15.00M | 16.00M | |
| Buildings | 229.00M | 208.00M | 202.00M | 199.00M | 202.00M | |
| Machinery | 573.00M | 529.00M | 517.00M | 493.00M | 480.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.00B | 940.00M | 833.00M | 839.00M | 845.00M | 861.00M |
| Depreciation & Amortization | 101.00M | 78.00M | 78.00M | 87.00M | 90.00M | 106.00M |
| Loss (Gain) From Sale of Assets | 6.00M | 15.00M | -8.00M | |||
| Asset Writedown & Restructuring Costs | 6.00M | 6.00M | 15.00M | |||
| Stock-Based Compensation | 74.00M | 74.00M | 65.00M | 55.00M | 41.00M | 34.00M |
| Change in Accounts Receivable | -41.00M | -50.00M | 3.00M | 2.00M | -88.00M | -14.00M |
| Change in Inventory | 9.00M | -6.00M | 3.00M | 52.00M | -38.00M | -75.00M |
| Change in Accounts Payable | 40.00M | 8.00M | -29.00M | -1.00M | 23.00M | 65.00M |
| Change in Other Net Operating Assets | 21.00M | 70.00M | -19.00M | -61.00M | 41.00M | -62.00M |
| Operating Cash Flow | 1.16B | 1.08B | 875.00M | 963.00M | 870.00M | 896.00M |
| Capital Expenditures | -63.00M | -63.00M | -55.00M | -54.00M | -34.00M | -54.00M |
| Cash Acquisitions | -683.00M | -363.00M | -55.00M | -60.00M | ||
| Divestitures | 26.00M | |||||
| Other Investing Activities | -18.00M | -35.00M | -16.00M | -1.00M | -9.00M | |
| Investing Cash Flow | -764.00M | -98.00M | -434.00M | -55.00M | -89.00M | -97.00M |
| Long-Term Debt Issued | 2.61B | |||||
| Net Debt Issued (Repaid) | 268.00M | 2.61B | ||||
| Issuance of Common Stock | 14.00M | 22.00M | 24.00M | 4.00M | ||
| Common Dividends Paid | -123.00M | -109.00M | -89.00M | |||
| Other Financing Activities | -15.00M | -2.75B | -781.00M | -799.00M | ||
| Financing Cash Flow | -364.00M | -102.00M | -65.00M | -135.00M | -781.00M | -799.00M |
| Foreign Exchange Rate Adjustments | -18.00M | 53.00M | -37.00M | -11.00M | ||
| Net Cash Flow | 10.00M | 930.00M | 339.00M | 762.00M | ||
| Free Cash Flow | 1.09B | 1.01B | 820.00M | 909.00M | 836.00M | 842.00M |
| Free Cash Flow Margin | 18.84% | 18.43% | 15.79% | 18.10% | 17.17% | 17.91% |
| Free Cash Flow Per Share | 4.41 | 4.05 | 3.29 | 3.68 | 3.39 | 3.42 |
| Levered Free Cash Flow | 763.38M | 815.38M | 772.00M | 899.88M | 727.25M | |
| Unlevered Free Cash Flow | 823.38M | 875.38M | 842.62M | 918.62M | 727.25M | |
| Cash Interest Paid | 137.00M | 138.00M | 137.00M | |||
| Cash Income Tax Paid | 235.00M | 235.00M | 293.00M | 113.00M | ||
| Change in Working Capital | -20.00M | -27.00M | -116.00M | -33.00M | -106.00M | -97.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 28.13B | 24.78B | 25.19B | 20.26B | ||
| Enterprise Value | 29.47B | 25.87B | 26.74B | 22.58B | ||
| Last Close Price | 115.70 | 99.35 | 100.95 | 81.22 | ||
| PE Ratio | 28.57 | 26.36 | 30.24 | 24.15 | ||
| Forward PE | 24.34 | 24.36 | 27.97 | 25.83 | ||
| PS Ratio | 4.85 | 4.50 | 4.85 | 4.04 | ||
| PB Ratio | 8.72 | 7.98 | 12.32 | 14.59 | ||
| P/FCF Ratio | 25.74 | 24.43 | 30.72 | 22.29 | ||
| P/OCF Ratio | 24.34 | 23.00 | 28.79 | 21.04 | ||
| PEG Ratio | 2.92 | 4.02 | ||||
| EV/Sales Ratio | 5.08 | 4.70 | 5.15 | 4.50 | ||
| EV/EBITDA Ratio | 21.86 | 19.07 | 20.78 | 18.21 | ||
| EV/EBIT Ratio | 23.63 | 20.23 | 22.12 | 19.58 | ||
| EV/FCF Ratio | 26.96 | 25.51 | 32.61 | 24.84 | ||
| Debt / Equity Ratio | 0.97 | 0.93 | 1.35 | 2.00 | 0.04 | 0.04 |
| Debt / EBITDA Ratio | 2.18 | 2.00 | 2.04 | 2.14 | 0.10 | 0.11 |
| Debt / FCF Ratio | 2.86 | 2.84 | 3.37 | 3.06 | 0.15 | 0.16 |
| Net Debt / Equity Ratio | 0.41 | 0.27 | 0.81 | 1.45 | 0.04 | 0.04 |
| Net Debt / EBITDA Ratio | 0.99 | 0.62 | 1.29 | 1.62 | 0.10 | 0.12 |
| Net Debt / FCF Ratio | 1.23 | 0.84 | 2.03 | 2.22 | 0.15 | 0.16 |
| Asset Turnover | 0.74 | 0.78 | 0.86 | 0.95 | 1.01 | |
| Inventory Turnover | 6.85 | 7.41 | 7.14 | 6.60 | 6.33 | |
| Quick Ratio | 1.66 | 1.42 | 1.54 | 1.25 | 0.73 | 0.68 |
| Current Ratio | 2.03 | 1.67 | 1.92 | 1.64 | 1.14 | 1.07 |
| Return on Equity (ROE) | 32.96% | 36.50% | 48.52% | 36.25% | 26.24% | |
| Return on Assets (ROA) | 9.96% | 11.34% | 12.49% | 13.70% | 14.51% | |
| Return on Invested Capital (ROIC) | 23.24% | 26.74% | 26.07% | 26.09% | 25.43% | 25.61% |
| Return on Capital Employed (ROCE) | 18.90% | 22.70% | 23.40% | 26.00% | 30.30% | 27.90% |
| Earnings Yield | 3.50% | 3.79% | 3.31% | 4.14% | ||
| FCF Yield | 3.89% | 4.09% | 3.26% | 4.49% | ||
| Dividend Yield | 0.45% | 0.46% | 0.37% | 0.11% | ||
| Payout Ratio | 12.84% | 11.60% | 10.68% | |||
| Buyback Yield / Dilution | 0.98% | -0.28% | -1.14% | -0.20% | ||
| Total Shareholder Return | 1.43% | 0.18% | -0.76% | -0.09% |