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Veralto key statistics and ratios

In fiscal 2025, Veralto had return on equity of 36.6%, an operating margin of 23.2%, debt equal to 86.1% of equity and a current ratio of 1.67. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMOct 2026
Gross margin57.7%56.7%57.8%59.8%59.9%60.2%
Operating margin22.1%22.8%22.7%23.3%23.2%21.8%
Net margin18.3%17.4%16.7%16.0%17.1%17.3%
Free-cash-flow margin17.9%17.2%18.1%15.8%18.4%18.8%
Return on equity—26.1%36.3%48.7%36.6%31.6%
Return on assets17.8%17.5%16.0%13.8%13.3%12.6%
Asset turnover0.971.010.950.860.780.73
Current ratio—1.141.641.921.672.03
Debt to equity—0.0%190.1%127.5%86.1%90.4%
Interest cover (operating income ÷ interest)——38.0x10.7x13.3x13.2x
Effective tax rate17.8%24.1%23.4%23.3%19.9%14.8%
R&D as % of revenue5.2%4.5%4.5%4.9%4.8%4.8%
SG&A as % of revenue30.4%29.4%30.6%31.7%31.9%33.6%
Capital spending as % of revenue1.1%0.7%1.1%1.1%1.1%1.1%
Free cash flow ÷ net income97.8%98.9%108.3%98.4%107.9%109.1%
Dividends ÷ net income—0.0%0.0%10.7%11.6%12.3%
Dividends and buybacks ÷ free cash flow—0.0%0.0%10.9%10.7%11.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 5 checks passed · October 2, 2026
What it owns · $8.2bn
Short-term assets $3.3bnLonger-term assets $4.9bn
What it owes, and who funded it · $4.9bn
Short-term liabilities $1.6bnShareholders' equity $3.2bn
  • Short-term assets cover short-term liabilities $3.3bn of assets due within a year against $1.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $1.8bn of cash against $2.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 90% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $1.2bn of operating cash flow against $2.9bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.3bn against $96m of interest.

From Veralto's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Environmental & Facilities Services stocks compared, Industrials sector, rankings of US companies

Figures from Veralto's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Veralto.