Veralto

Industrials Environmental & Facilities Services Waltham, Massachusetts Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.5B
                    3y CAGR +4.2%
                    
                    P39
                    
                    +6.0%
                    
                    Net income
                    FY2025
                
$940.0M
                    Net margin +17.1%
                    
                    P74
                    
                    +12.8%
                    
                    Total assets
                    FY2025
                
$7.7B
                    ROA +12.2%
                    
                    P77
                    
                    +20.1%
                    
                    Operating cash flow
                    FY2025
                
$1.1B
                    FCF margin +18.4%
                    
                    P82
                    
                    +23.1%

5 yrs · FY2021–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $7.7B

Total liabilities $2.1B

Shareholders equity $3.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	26.4%	17.2%	13.4%
Accounts Receivable	11.7%	12.7%	14.5%
Inventory	4.0%	4.5%	5.2%
Prepaid Expenses	2.6%	2.9%	3.3%
Other Current Assets	7.9%	8.2%	7.0%
Total Current Assets	44.6%	37.3%	36.4%
Property,Plant and Equipment	3.8%	4.2%	4.6%
Operating Lease Assets	2.5%	2.5%	2.5%
Goodwill	36.9%	42.0%	44.5%
Intangible Assets	6.8%	8.4%	7.5%
Other Noncurrent Assets	7.9%	8.2%	7.0%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	5.4%	6.2%	7.6%
Accrued Liabilities	12.2%	13.3%	14.6%
Current Portion of Long Term Debt	9.1%	—	—
Other Current Liabilities	7.3%	8.1%	7.2%
Total Current Liabilities	26.7%	19.4%	22.2%
Long Term Debt	25.6%	40.6%	46.2%
Deferred Tax Liabilities	0.0%	5.0%	5.0%
Other Noncurrent Liabilities	7.3%	8.1%	7.2%
Total Liabilities	26.7%	19.4%	22.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	29.5%	34.2%	37.9%
Retained Earnings	22.7%	14.3%	3.1%
Treasury Stock	0.0%	0.0%	0.0%
Accumulated Other Comprehensive Income	-11.9%	-16.7%	-16.8%
Noncontrolling Interest	0.0%	0.1%	0.1%
Total Stockholders Equity	40.4%	31.8%	24.3%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 3 years

Revenue $5.5B

Operating income $1.3B

Net income $940.0M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	71.5%	81.1%	88.2%
Expenses Cost of Revenue	28.6%	32.6%	37.2%
Expenses Research and Development	3.5%	3.9%	4.0%
Expenses Selling,General and Administrative	22.8%	25.7%	27.0%
Expenses Depreciation and Amortization	1.0%	1.2%	1.5%
Expenses Share Based Compensation	1.0%	1.0%	1.0%
Other Income Expense Gross Profit	42.9%	48.5%	51.0%
Other Income Expense Operating Income	16.6%	18.9%	20.0%
Other Income Expense Other Income/expense	-0.1%	-0.1%	-0.2%
Other Income Expense Income Before Tax	15.2%	17.0%	19.3%
Income Tax Income Tax Expense	3.0%	3.9%	4.5%
net Income net Income	12.2%	13.0%	14.7%
net Income Comprehensive Income	14.3%	11.2%	14.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	3.2%	3.9%	4.3%
Earnings Per Share Weighted Average Shares Diluted	3.3%	3.9%	4.3%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $1.1B

Investing cash flow $-98.0M

Financing cash flow $-102.0M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	12.2%	13.0%	14.7%
Operating Activities Depreciation and Amortization	1.0%	1.2%	1.5%
Operating Activities Stock Based Compensation	1.0%	1.0%	1.0%
Operating Activities Deferred Income Taxes	0.6%	1.2%	0.4%
Operating Activities Changes In Operating Assets and Liabilities	2.8%	0.7%	-0.1%
Operating Activities net Cash From Operating Activities	14.0%	13.7%	16.9%
Investing Activities Capital Expenditures	0.8%	0.9%	0.9%
Investing Activities Business Acquisitions	0.0%	5.7%	0.0%
Investing Activities Purchases of Investments	0.1%	0.2%	0.0%
Investing Activities Other Investing Activities	0.5%	0.2%	0.0%
Investing Activities net Cash From Investing Activities	-1.3%	-6.8%	-1.0%
Financing Activities Dividends Paid	1.4%	1.4%	0.0%
Financing Activities Proceeds From Stock Issuance	0.5%	0.5%	0.1%
Financing Activities Tax Withholding On Stock Based Compensation	0.2%	0.2%	0.0%
Financing Activities Other Financing Activities	-0.2%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-1.3%	-1.0%	-2.4%
Cash Reconciliation Effect of Exchange Rate On Cash	0.7%	-0.6%	-0.2%
Cash Reconciliation net Change In Cash	12.1%	5.3%	13.4%
Cash Reconciliation Cash At Beginning of Period	26.4%	17.2%	13.4%
Cash Reconciliation Cash At End of Period	26.4%	17.2%	13.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+59.9%	+59.8%	+57.8%
Operating margin	+23.2%	+23.3%	+22.7%
Net margin	+17.1%	+16.0%	+16.7%
FCF margin	+18.4%	+15.8%	+18.1%
Growth
Revenue CAGR (3y)	+4.2%	+3.4%	—
Returns
ROE	+30.3%	+40.9%	+60.7%
ROA	+12.2%	+13.0%	+14.7%
ROIC	+27.3%	+26.2%	+26.9%
Liquidity
Current ratio	1.67x	1.92x	1.64x
Quick ratio	1.42x	1.54x	1.26x
Leverage
D/E	0.66x	0.61x	0.91x
Interest coverage	—	—	38.00x
Efficiency
Asset turnover	0.72x	0.81x	0.88x
Cash conversion cycle	+41d	+38d	+37d

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Veralto

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