# Veralto Corporation (VLTO) — Stock CV

Veralto Corporation is a $23.6B technology company. Revenue grew 6.2% over the last year, it keeps 17¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 23.9× earnings — in the cheapest third of its own history.

> Veralto is a diversified industrial firm organized into two segments. The water quality segment offers water analytics and water treatment solutions, while the product quality and innovation segment offers coding, packaging, and color solutions for consumer packaged goods and pharmaceuticals.

## Identity

- **Ticker**: VLTO
- **Sector**: Technology
- **Industry**: Instruments For Meas & Testing Of Electricity & Elec Signals
- **Headquarters**: WALTHAM, MA
- **Employees**: 17 000
- **Website**: https://www.veralto.com
- **Market cap**: $23.6B
- **Last price**: $96.93
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $5.70B
- **Net income**: $988M
- **Free cash flow**: $1.05B
- **Net cash**: $58.0M
- **P/E**: 23.9
- **Revenue growth (YoY)**: 6.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 69 |
| Growth | 38 |
| Profitability | 90 |
| Health | 68 |
| Quality | 77 |
| Moat | 100 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +6.2% YoY
- [x] Profitable — $988M TTM
- [x] Profit growing — +3.0% YoY
- [x] Generates cash — $1.05B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $23.6B market cap
- [x] Not printing shares — +1.6% shares over ~5y
- [x] Proven track record — 5/5 profitable years
- [ ] Financially stable — health score 43/100
- [x] Pays a dividend — yield 0.50%
- [x] Valuation not extreme — P/E 23.9

## Experience (career milestones)

- **FY2025** — Became debt-free: cash now exceeds total debt
- **FY2025** — Best year on record: $940M net income
- **2025** — The company acquired Aquafides, which produces ultraviolet water treatment systems, for $20 million
- **2024** — The company acquired TraceGains, a cloud-based software platform used for compliance and reporting…
- **2023** — Danaher Corporation completed the corporate spin-off of the company in September 2023
- **FY2021** — Profitable every year on record: 5 consecutive profitable years in our data
- **FY2021** — Revenue already above $1B: $4.70B in first reported year
- **FY2021** — Positive free cash flow every year since: 5-year streak

## Strengths

- High gross margin (60.2%)
- Strong cash conversion — FCF is 18.4% of revenue
- Net cash position after subtracting debt from cash
- Interest covered 13.1× by operating earnings
- High returns on invested capital (ROIC 30.9%)

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $4.70B | $861M | $842M |
| FY2022 | $4.87B | $845M | $836M |
| FY2023 | $5.02B | $839M | $909M |
| FY2024 | $5.19B | $833M | $820M |
| FY2025 | $5.50B | $940M | $1.01B |

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Source: https://stockcv.com/VLTO — derived from company filings; may be delayed or incomplete. Information, not investment advice.