Veralto Corporation (VLTO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-38.8%

$71.20

vs $116.25 price

Levered DCF

$69.11

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.28

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	26.33×	30.22×	24.12×	23.5×	23.03×	27.41×
P/B	7.98×	12.36×	14.66×	6.13×	6.2×	0×
P/S	4.5×	4.85×	4.04×	4.07×	4.22×	4.56×
EV / EBITDA	18.87×	21.03×	18.37×	16.59×	17.44×	0×
Gross margin	59.9%	59.8%	57.8%	56.9%	57.7%	57.7%
Operating margin	23.2%	23.3%	22.7%	22.8%	22.1%	21.9%
Net margin	17.1%	16.0%	16.7%	17.4%	18.3%	16.7%
Current ratio	1.67×	1.92×	1.64×	1.14×	1.07×	0×
Debt / equity	0.86×	1.36×	2.01×	0.04×	0.04×	0×
Interest coverage	13.3×	10.69×	38×	0×	0×	0×
Dividend yield	0.4%	0.4%	0.1%	0.0%	0.0%	0.0%
Payout ratio	11.6%	10.7%	2.6%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	30.3%	40.9%	60.7%	26.1%	26.9%	0.0%
Return on invested capital	16.1%	17.8%	19.6%	22.6%	22.8%	0.0%
Return on assets	12.2%	13.0%	14.7%	17.5%	17.8%	0.0%
Free cash flow yield	4.1%	3.3%	4.5%	4.2%	4.2%	4.9%
Earnings yield	3.8%	3.3%	4.1%	4.3%	4.3%	3.6%
Enterprise value	$25.4B	$26.9B	$22.3B	$20B	$20B	$0
Net debt / EBITDA	0.48×	1.3×	1.66×	0.1×	0.12×	0×
Cash conversion cycle (days)	41	38	37	45	33	0