Veralto Corp (VLTO)
Industrials · Environmental & Facilities Services · US stock · S&P 500 component
$104.90
▲ +3.59 (3.54%)
Fair valueFair
$102 −2.7% to fair value
$51fair band $87–$124$153
Day's range
$102.00 – $104.90
52-week range
$80.03 – $105.75
About Veralto Corp
Veralto provides water analytics, water treatment, and product identification and marking solutions. Its businesses supply instruments, chemicals, consumables and software that help customers test and treat water and label and trace products. Revenue comes from equipment sales and, to a large extent, from repeat purchases of consumables, parts and services used with the installed equipment. Customers include municipalities, industrial plants and consumer goods makers.
Trailing twelve-month revenue stands at $5.6 billion. The three-year revenue growth rate is 4.2% a year. Profitability shows an operating margin of 23.1% and a return on invested capital of 23%. Net debt stands at 1.0 times EBITDA. Shareholders receive a dividend, yielding 0.5%. This gives an X-Ray Score of 55 out of 100. These figures describe past results as reported and are a factual snapshot, not a forecast. Some measures, such as margins for real estate trusts and banks, are defined differently from those of industrial firms, so comparisons should be made with care.
Price chart
52-wk range $80.03 – $105.75Volume 1,717,820Daily, split-adjusted
Vitals
Market cap$26.1B
52-week range$80.03 – $105.75
Volume (last day)1,717,820
P/E (TTM)27.1
EBIT / EV yield4.7%
Free-cash-flow yield4.0%
Dividend yield0.5%
Revenue (TTM)$5.6B
Net income (TTM)$969M
Operating margin23.1%
Return on capital23.4%
Debt incl. leases$2.9B
Cash & securities$1.4B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$102middle half of models $101 – $108
Fair
−2.7% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $105
Undervalued < $87Fair $87 – $124Overvalued > $124
P/E multiple
$105
P/B multiple
$131
P/S multiple
$101
EV/EBITDA multiple
$102
EV/EBIT multiple
$108
EV/revenue multiple
$104
10-year DCF, EBITDA exit
$108
5-year DCF, EBITDA exit
$110
10-year DCF, revenue exit
$108
5-year DCF, revenue exit
$110
10-year DCF, growth exit
$78
5-year DCF, growth exit
$73
Dividend discount, stable · not used
$20
Dividend discount, multi-stage · not used
$37
Earnings power value
$89
Growth the price implies
12.9%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
57/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.7%
Free-cash-flow yield4.0%
Fair value vs price1.0×
Growth
Weak
50/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)4.2%
EPS growth (3y)3.1%
Growth consistency100%
Profitability
Strong
71/100
Earns high returns on the capital it uses.
See the numbers →
Return on invested capital23.4%
Operating margin23.1%
Gross profitability43.7%
Financial health
Weak
46/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA1.0×
Interest cover13.9×
Dividends
Weak
39/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.5%
Dividends vs free cash flow12%
Quarterly results: last 6 quarters
+4.4%
Dec '24
+6.9%
Apr '25
+6.4%
Jul '25
+6.8%
Oct '25
+3.8%
Dec '25
+6.8%
Apr '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.4B, diluted EPS $1.02.
Compare with peers
ROL Rollins Inc61 WM Waste Management Inc53 RSG Republic Services, Inc...42Other Environmental & Facilities Services companies by X-Ray Score.
SWOT analysis: Veralto Corp
Strengthsinside the company
- Return on invested capital is 23.4%, against a median of 11.0% for industry peers.
- Operating margin of 23.1% is well above the 17.6% median of industry peers, a sign of pricing power or lower costs.
- Operating profit covers interest 14x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Trades at 27.0x earnings, 20% below the 33.7x median of industry peers.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare VLTO with peers and sector
Medians of 3 Environmental & Facilities Services peers and of 80 Industrials stocks in our universe.
Largest peers (X-Ray Score): WM 53, RSG 42, ROL 61.
| Metric | VLTO | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 55 | 53 | 50 |
| Valuation | 57 | 44 | 44 |
| Growth | 50 | 70 | 51 |
| Profitability | 71 | 58 | 50 |
| Financial health | 46 | 38 | 49 |
| Dividends | 39 | 54 | 53 |
Sector leaders: highest X-Ray Score in Industrials
VLTO ranks #27 of 81 in Industrials and #2 of 4 in Environmental & Facilities Services by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for VLTO
Each factor is rated by where VLTO stands among the 81 Industrials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 7 Good · 11 Average · 5 Bad of 23
Growth: 0 · 3 · 0
Profitability: 4 · 1 · 0
Financial strength: 1 · 2 · 1
Valuation: 0 · 4 · 1
Cash flow: 1 · 0 · 3
Efficiency: 1 · 1 · 0
| Factor | VLTO | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +4.2% | Average beats 39% | +5.6% | – | – |
| Revenue growth, last year | +6.0% | Average beats 59% | +4.5% | +3.5% | ▲ Better |
| EPS growth, 3 years a year | +3.1% | Average beats 45% | +5.7% | – | – |
| Profitability | |||||
| Gross margin | 59.9% | Good beats 93% | 38.0% | 57.8% | ≈ In line |
| Operating margin | 23.1% | Good beats 78% | 17.5% | 22.8% | ≈ In line |
| Net margin | 17.3% | Good beats 75% | 12.8% | 17.1% | ≈ In line |
| Return on invested capital | 23.4% | Good beats 70% | 14.9% | – | – |
| Return on equity | 32.2% | Average beats 64% | 23.7% | 35.6% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 1.0x | Good beats 73% | 1.8x | 0.8x | ≈ In line |
| Interest cover | 13.9x | Average beats 42% | 21.4x | 13.3x | ≈ In line |
| Current ratio | 1.48 | Average beats 65% | 1.25 | 1.65 | ▼ Worse |
| Piotroski F-score | 5 / 9 | Bad beats 16% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 27.0x | Average beats 55% | 28.9x | 26.6x | ≈ In line |
| Price / book | 8.7x | Average beats 34% | 6.2x | 12.5x | ▲ Better |
| Price / sales | 4.7x | Bad beats 33% | 3.5x | 4.5x | ≈ In line |
| EV / EBITDA | 20.0x | Average beats 40% | 18.5x | 18.9x | ≈ In line |
| Free cash flow yield | 4.0% | Average beats 55% | 3.8% | 4.1% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 18.6% | Good beats 78% | 13.8% | 17.9% | ≈ In line |
| Cash from operations / net income | 1.14 | Bad beats 19% | 1.39 | 1.05 | ≈ In line |
| Free cash flow growth, 3 years a year | +6.6% | Bad beats 24% | +14.5% | – | – |
| Accruals (lower is better) | −1.7% | Bad beats 26% | −3.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 6.8x | Good beats 77% | 4.0x | 7.2x | ≈ In line |
| Days sales outstanding | 60 days | Average beats 43% | 57 days | 60 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 8 Average · ● 3 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 56/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $4.7B | $4.9B | $5.0B | $5.2B | $5.5B |
| Operating income | $1.0B | $1.1B | $1.1B | $1.2B | $1.3B |
| Net income | $861M | $845M | $839M | $833M | $940M |
| Operating cash flow | $896M | $870M | $963M | $875M | $1.1B |
| Operating margin | 22.1% | 22.8% | 22.7% | 23.3% | 23.2% |
| Free cash flow | $842M | $836M | $909M | $820M | $1.0B |
| Diluted EPS | $3.50 | $3.43 | $3.40 | $3.34 | $3.76 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
5 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 100.5 | Bullish |
| EMA 10 | 100.7 | Bullish |
| SMA 20 | 98.16 | Bullish |
| EMA 20 | 99.10 | Bullish |
| SMA 50 | 97.29 | Bullish |
| EMA 50 | 97.09 | Bullish |
| SMA 100 | 93.80 | Bullish |
| EMA 100 | 95.23 | Bullish |
| SMA 200 | 92.65 | Bullish |
| EMA 200 | 94.65 | Bullish |
Oscillators (daily)
| RSI (14) | 76.89 | Bearish |
| MACD (12, 26) | 1.74 | Bullish |
| Momentum (12) | 8.76 | Bullish |
| Stochastic %K (14) | 100.0 | Bearish |
| Williams %R (14) | 0.00 | Bearish |
| CCI (20) | 160.7 | Bearish |
Pivot points (classic, last session)
S3 100.1 | S2 101.0 | S1 103.0 | Pivot 103.9 | R1 105.9 | R2 106.8 | R3 108.8 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.52 USD
Yield on today's price
0.50%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.1300 | |
| 0.1300 | |
| 0.1300 | |
| 0.1300 | |
| 0.1100 | |
| 0.1100 | |
| 0.1100 | |
| 0.1100 | |
| 0.0900 | |
| 0.0900 | |
| 0.0900 | |
| 0.0900 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold VLTO
| ETF | Share of the fund |
|---|---|
| PHO Invesco Water Resources | 4.34% |
| FTCS First Trust Capital Strength | 1.96% |
| RDVI FT Cboe Vest Rising Dividend Achievers... | 1.75% |
| RDVY First Trust Rising Dividend Achievers | 1.64% |
| RSPN Invesco S&P 500 Equal Weight Industria... | 1.35% |
| SPLV Invesco S&P 500 Low Volatility | 0.89% |
| SDVY First Trust SMID Cap Rising Dividend A... | 0.76% |
| TCAF T. Rowe Price Capital Appreciation Equ... | 0.64% |
The eight funds with the largest weight in VLTO among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
VLTO SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Entered a material agreement; Other events
424B5SEC EDGAR
424B5
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.