Veralto (VLTO) stock
Industrials · Environmental & Facilities Services
Veralto (VLTO) is an Environmental & Facilities Services company in the Industrials sector, headquartered in Waltham, Massachusetts. As of October 23, 2026, VLTO closed at $104.33, a market capitalization of $25.43 billion, the 358th largest company in the S&P 500. Over the last twelve months it generated $5.70 billion in revenue (+8% year over year) and $1.05 billion in free cash flow. The stock trades at 25.4x trailing earnings and 21.8x forward earnings.
- 1-year total return: +0.0% (dividends reinvested)
- 52-week range: $80.03 – $105.61
- Gross margin 60.2%, operating margin 21.4%
- Dividend yield: 0.50%, 2 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 58th largest of 83 Industrials stocks in the S&P 500
VLTO price chart
1Y price change: -0.5% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| VLTO | +9.0% | +5.0% | +0.0% | +13.7% | — | — | +10.6% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2023.
VLTO key statistics
- Market cap
- $25.4B
- #358 in S&P 500
- P/E (TTM)
- 25.4x
- Forward P/E
- 21.8x
- EPS (TTM)
- $4.11
- Revenue (TTM)
- $5.7B
- +8%
- Free cash flow
- $1.0B
- Gross margin
- 60.2%
- Operating margin
- 21.4%
- Return on equity
- 34.3%
- Dividend yield
- 0.50%
- 52-week range
- $80.03 – $105.61
- Beta
- 0.78
- Price / sales
- 4.5x
- EV / EBITDA
- 19.4x
- Debt / equity
- 1.16x
- Employees
- 17,000
VLTO report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth7.5%C
- Gross margin60.2%A
- Operating margin21.4%B
- FCF margin18.4%B
- Return on equity34.3%A
- Net debt / EBITDA1.1xC
- Forward P/E21.8xC
- PEG ratio2.5xD
- Shareholder yield0.5%F
- Share count change / yr0.4%C
Veralto financials
Revenue went from $4.7B in fiscal 2021 to $5.5B in fiscal 2025, growing 4.0% a year.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.7B | $4.9B | $5.0B | $5.2B | $5.5B |
| Gross profit | $2.7B | $2.8B | $2.9B | $3.1B | $3.3B |
| Operating income | $1.0B | $1.1B | $1.1B | $1.2B | $1.3B |
| Net income | $861.0M | $845.0M | $839.0M | $833.0M | $940.0M |
| EPS (diluted) | $3.50 | $3.43 | $3.40 | $3.34 | $3.76 |
| Free cash flow | $842.0M | $836.0M | $909.0M | $820.0M | $1.0B |
| Dividends paid | — | $0 | $0 | $89.0M | $109.0M |
| Diluted shares | 246.3M | 246.3M | 246.8M | 249.6M | 250.3M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into VLTO?
A reverse DCF asks what growth the current price requires. With an enterprise value of $26.9B and $1.0B of trailing free cash flow, Veralto needs to grow free cash flow about 16.9% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 4.8% a year over the last five years.
P/E ratio history
Current 27.7x vs. median 29.2x (10th–90th percentile 23.1x–31.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
VLTO dividend
- Dividend yield
- 0.50%
- Annual dividend
- $0.52
- Years of increases
- 2
- 5-yr dividend growth
- —
- per year
- Payout ratio
- 13%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
VLTO analyst price targets
16 analysts' average 12-month target is $114.00 (+9% vs. $104.33). Targets range from $100.00 to $133.00. 65% rate it a buy.
VLTO earnings
Next report: October 29, 2026. Veralto has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $1.5B (+8% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 28, 2026 | $1.01 | $1.11 | +10.3% |
| Apr 28, 2026 | $1.01 | $1.07 | +6.4% |
| Feb 3, 2026 | $0.98 | $1.04 | +6.0% |
| Oct 28, 2025 | $0.95 | $0.99 | +4.4% |
| Jul 28, 2025 | $0.88 | $0.93 | +5.2% |
| Apr 29, 2025 | $0.87 | $0.95 | +9.7% |
| Feb 4, 2025 | $0.89 | $0.95 | +6.5% |
| Oct 23, 2024 | $0.85 | $0.89 | +4.6% |
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|---|---|---|---|---|---|
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VLTO news
- Veralto (VLTO) Reports Next Week: Wall Street Expects Earnings Growth · Oct 22, 2026
- Veralto Schedules Third Quarter 2026 Earnings Call · Oct 12, 2026
- What You Need to Know Ahead of Veralto’s Earnings Release · Oct 7, 2026
- Veralto (VLTO) Lands A Zacks Upgrade, Is The Stock Still Undervalued? · Oct 6, 2026
- Can Water Quality Margin Expansion Power Veralto's Next Growth Phase? · Oct 2, 2026
VLTO stock FAQ
What is VLTO's market cap?
Veralto's market capitalization is $25.43 billion as of October 23, 2026, ranking 358th in the S&P 500.
What is VLTO's P/E ratio?
VLTO trades at a trailing price-to-earnings ratio of 25.4x and a forward P/E of 21.8x. Its median P/E over the period we track is 29.2x.
Does VLTO pay a dividend?
Yes. Veralto pays $0.52 per share a year, a 0.50% yield. It has raised its dividend 2 years in a row.
How much has VLTO stock returned?
Including reinvested dividends, VLTO returned +0.0% over one year through October 23, 2026.
Is VLTO stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Veralto must grow free cash flow about 17% a year for the next decade. Its free cash flow grew 5% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the VLTO price target?
16 analysts cover VLTO with an average 12-month price target of $114.00, +9% from the current price. 65% of them rate it a buy.
When does VLTO report earnings?
Veralto is expected to report earnings on October 29, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Veralto have?
Veralto has about 17,000 full-time employees, or $335,059 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology