VLTONYSEInstruments For Meas & Testing of Electricity & Elec SignalsFiscal year ends December 31
Veralto Corp
Financials through Q2 FY2026, quarter ended Jul 3, 2026Last filing: 10-Q on Jul 29, 2026
$100.47−0.57 (-0.56%)
Close on Oct 19, 2026
- Market cap
- $24.70B
- P/E (TTM)
- 25.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
59.9%
Operating margin
23.2%
Net margin
17.1%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.0% | +4.2% | – | – | |
| Gross profit | +6.2% | +6.1% | – | – | |
| Operating income | +5.7% | +4.7% | – | – | |
| Net income | +12.8% | +3.6% | – | – | |
| EPS, diluted | +12.6% | +3.1% | – | – | |
| Free cash flow | +23.7% | +6.6% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 36.6% | |
| Return on assets | – | – | 13.3% | |
| Current ratio | – | – | 1.67 | |
| Debt to equity | – | – | 0.86 | |
| Net debt to EBITDA | – | – | 0.47× | |
| Interest coverage | – | – | 13.3× | |
| Inventory turnover | – | – | 7.4× | |
| Capex to revenue | – | – | 1.1% | |
| Diluted shares | – | – | 250M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Veralto generated $4.68B from operations and spent $458.00M on capital expenditure, dividends and share buybacks. 57% of that went back into the business.
Generated
$4.68B
Used
$458.00M
Capital expenditure$260.00M57%Dividends$198.00M43%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin17.1%
×Asset turnover0.78×
×Equity multiplier2.74×
=Return on equity, FY202536.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 17.1% | 0.78× | 2.74× | 36.6% |
| FY2024 | 16.0% | 0.86× | 3.54× | 48.7% |
| FY2023 | 16.7% | 0.95× | 2.28× | 36.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$940.00M
- Cash generatingOperating cash flow above zero$1.08B
- Return on assets improvedROA up on the prior year14.6% → 14.7%
- Earnings backed by cashOperating cash flow above net income$1.08B vs $940.00M
- Less leverageLong-term debt to assets fell40.6% → 25.6%
- Better liquidityCurrent ratio rose1.92 → 1.67
- No dilutionShare count did not rise250M → 250M
- Gross margin improvedGross margin up on the prior year59.79% → 59.95%
- More efficientAsset turnover rose0.91 → 0.86