Veralto (VLTO)


Market Price (10/31/2026): $111.1 | Market Cap: $27.0 BilSector: Industrials | Industry: Environmental & Facilities Services

Veralto (VLTO)


Market Price (10/31/2026): $111.1
Market Cap: $27.0 Bil
Sector: Industrials
Industry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%

Low stock price volatility
Vol 12M is 24%

Megatrend and thematic drivers
Megatrends include Water Infrastructure, and Automation & Robotics. Themes include Water Treatment & Delivery, Wastewater Management, Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is -1.2%

Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -26%

Key risks
VLTO key risks include [1] intense competition in its core markets that threatens to erode market share and profitability.

0 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
2 Low stock price volatility
Vol 12M is 24%
3 Megatrend and thematic drivers
Megatrends include Water Infrastructure, and Automation & Robotics. Themes include Water Treatment & Delivery, Wastewater Management, Show more.
4 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is -1.2%
5 Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -26%
6 Key risks
VLTO key risks include [1] intense competition in its core markets that threatens to erode market share and profitability.

VLTO in ETFs

Weight = VLTO's share of each fund

SPY0.04%
VOO0.03%
IVV0.04%
VTI0.03%
ITOT0.03%
IWB0.04%
RSP0.22%
VTV0.09%
+24 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/30/2026

Veralto (VLTO) stock has gained about 25% since 6/30/2026 because of the following key factors:

1. Consistent Financial Outperformance and Upgraded Full-Year Guidance.

Veralto demonstrated strong financial results throughout the period, exceeding analyst expectations and subsequently raising its full-year outlook. In fiscal Q2 2026 (ended July 3, 2026), the company reported an adjusted EPS of $1.11, beating the consensus estimate of $1.01 by $0.10, and revenue of $1.47 billion, surpassing expectations of $1.45 billion. Following these results, Veralto raised its full-year adjusted EPS guidance to a range of $4.35 to $4.43. This positive momentum continued into fiscal Q3 2026 (ended October 2, 2026), where non-GAAP EPS reached $1.18, exceeding analyst estimates of $1.09 by $0.09 (an 8.3% beat), and sales increased 7.5% year-over-year to $1.509 billion, slightly above the $1.50 billion consensus. Consequently, the company further raised its full-year 2026 adjusted EPS guidance to $4.49 to $4.52, representing 15% to 16% growth over the prior year.

2. Accelerating Core Sales Growth, Driven by Water Quality and Strategic Drivers.

Veralto experienced accelerating core sales growth during the period, primarily fueled by its Water Quality segment and benefiting from secular market trends. In fiscal Q2 2026, non-GAAP core sales grew 4.2% year-over-year, with the Water Quality segment leading with 5.7% core growth. This acceleration continued into fiscal Q3 2026, where non-GAAP core sales growth reached 5.1% year-over-year, with Water Quality growing 6.4% and Product Quality and Innovation (PQI) growing 3.2%. Management anticipates further acceleration in Q4 core sales growth, projecting a rate between 5.5% and 6.5% year-over-year. The company noted strong demand driven by secular factors such as water scarcity and data center growth.

Show more
Updated on 10/30/2026

Veralto (VLTO) stock has gained about 25% since 6/30/2026 because of the following key factors:

1. Consistent Financial Outperformance and Upgraded Full-Year Guidance.

Veralto demonstrated strong financial results throughout the period, exceeding analyst expectations and subsequently raising its full-year outlook. In fiscal Q2 2026 (ended July 3, 2026), the company reported an adjusted EPS of $1.11, beating the consensus estimate of $1.01 by $0.10, and revenue of $1.47 billion, surpassing expectations of $1.45 billion. Following these results, Veralto raised its full-year adjusted EPS guidance to a range of $4.35 to $4.43. This positive momentum continued into fiscal Q3 2026 (ended October 2, 2026), where non-GAAP EPS reached $1.18, exceeding analyst estimates of $1.09 by $0.09 (an 8.3% beat), and sales increased 7.5% year-over-year to $1.509 billion, slightly above the $1.50 billion consensus. Consequently, the company further raised its full-year 2026 adjusted EPS guidance to $4.49 to $4.52, representing 15% to 16% growth over the prior year.

2. Accelerating Core Sales Growth, Driven by Water Quality and Strategic Drivers.

Veralto experienced accelerating core sales growth during the period, primarily fueled by its Water Quality segment and benefiting from secular market trends. In fiscal Q2 2026, non-GAAP core sales grew 4.2% year-over-year, with the Water Quality segment leading with 5.7% core growth. This acceleration continued into fiscal Q3 2026, where non-GAAP core sales growth reached 5.1% year-over-year, with Water Quality growing 6.4% and Product Quality and Innovation (PQI) growing 3.2%. Management anticipates further acceleration in Q4 core sales growth, projecting a rate between 5.5% and 6.5% year-over-year. The company noted strong demand driven by secular factors such as water scarcity and data center growth.

3. Strategic Capital Deployment and Strong Free Cash Flow Generation.

Veralto actively deployed capital through strategic acquisitions and share repurchases, while also demonstrating robust free cash flow generation. Year-to-date in 2026, the company deployed over $1.65 billion across four strategic bolt-on acquisitions and repurchased 2.4% of its outstanding shares. This includes the acquisition of Cleanwater1, completed on October 5, 2026, which will be integrated into its Water Quality segment. The company indicated it is nearing completion of its $750 million share repurchase program, with $550 million effectively deployed. Furthermore, Veralto generated strong free cash flow of $304 million in fiscal Q3 2026, equivalent to a 20.1% margin and an increase from the prior year.

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Stock Movement Drivers

Fundamental Drivers

The 25.5% change in VLTO stock from 6/30/2026 to 10/30/2026 was primarily driven by a 19.5% change in the company's P/E Multiple.
(LTM values as of)630202610302026Change
Stock Price ($)88.56111.1025.5%
Change Contribution By: 
Total Revenues ($ Mil)5,5935,8013.7%
Net Income Margin (%)17.3%17.3%-0.3%
P/E Multiple22.627.019.5%
Shares Outstanding (Mil)2482441.6%
Cumulative Contribution25.5%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/30/2026
ReturnCorrelation
VLTO25.5% 
Market (SPY)1.2%-20.4%
Sector (XLI)-9.6%-5.7%

Fundamental Drivers

The 26.0% change in VLTO stock from 3/31/2026 to 10/30/2026 was primarily driven by a 15.9% change in the company's P/E Multiple.
(LTM values as of)331202610302026Change
Stock Price ($)88.17111.1026.0%
Change Contribution By: 
Total Revenues ($ Mil)5,5035,8015.4%
Net Income Margin (%)17.1%17.3%1.1%
P/E Multiple23.327.015.9%
Shares Outstanding (Mil)2492442.0%
Cumulative Contribution26.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/30/2026
ReturnCorrelation
VLTO26.0% 
Market (SPY)16.5%-14.6%
Sector (XLI)3.8%-0.0%

Fundamental Drivers

The 4.8% change in VLTO stock from 9/30/2025 to 10/30/2026 was primarily driven by a 8.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510302026Change
Stock Price ($)106.01111.104.8%
Change Contribution By: 
Total Revenues ($ Mil)5,3625,8018.2%
Net Income Margin (%)16.7%17.3%3.7%
P/E Multiple29.527.0-8.3%
Shares Outstanding (Mil)2482441.8%
Cumulative Contribution4.8%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/30/2026
ReturnCorrelation
VLTO4.8% 
Market (SPY)14.4%8.2%
Sector (XLI)9.5%12.9%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/30/2026
ReturnCorrelation
VLTO  
Market (SPY)82.9%38.4%
Sector (XLI)71.7%41.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VLTO Return---3%24%-2%12%32%
Peers Return-1%22%16%49%21%15%191%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
VLTO Win Rate--67%58%58%40% 
Peers Win Rate52%48%52%55%53%54% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
VLTO Max Drawdown----11%-18%-20% 
Peers Max Drawdown-36%-28%-31%-22%-42%-31% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CWST, GEO, CECO, FTEK, WM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)

How Low Can It Go

EventVLTOS&P 500
2025 US Tariff Shock
  % Loss-12.6%-18.8%
  % Gain to Breakeven14.4%23.1%
  Time to Breakeven34 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.7%-9.5%
  % Gain to Breakeven26.1%10.5%
  Time to Breakeven106 days24 days

Compare to CWST, GEO, CECO, FTEK, WM

In The Past

Veralto's stock fell -12.6% during the 2025 US Tariff Shock. Such a loss loss requires a 14.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventVLTOS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-20.7%-9.5%
  % Gain to Breakeven26.1%10.5%
  Time to Breakeven106 days24 days

Compare to CWST, GEO, CECO, FTEK, WM

In The Past

Veralto's stock fell -12.6% during the 2025 US Tariff Shock. Such a loss loss requires a 14.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Veralto (VLTO)

Veralto Corporation operates as an industrial technology company with two primary business segments. Firstly, it specializes in providing essential water treatment solutions, managing the entire water cycle from sourcing to treating and returning water to consumers. This segment focuses on ensuring a reliable and sustainable water supply.

Secondly, Veralto offers a comprehensive portfolio of products and services for various industrial applications. These include advanced printers, precision instruments, specialized software, and consumables. These solutions are critical for tasks such as color and appearance management, packaging design and quality control, packaging converting, printing, marking and coding, and traceability.

Veralto's diverse customer base for its industrial solutions spans key sectors including food and beverage, consumer packaged goods (CPG), pharmaceutical, and general industrial products manufacturing, where precision, quality, and efficiency in production and supply chain management are paramount.

AI Analysis | Feedback

Veralto is like Xylem for industrial water solutions, combined with Zebra Technologies for factory product marking and traceability.

AI Analysis | Feedback

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  • Water Treatment Solutions: Provides solutions for sourcing and treating water for consumers and for returning it to the water cycle.
  • Printers: Offers printers for various applications including color and appearance management, packaging, printing, marking, and coding.
  • Instruments: Supplies instruments used in areas like color and appearance management, packaging design and quality management, and traceability.
  • Software: Develops software solutions for packaging design and quality management, color and appearance management, and traceability applications.
  • Consumables: Provides essential consumables used with their printing, marking, and coding equipment across various industrial sectors.
  • Specialized Services: Offers expert services related to color and appearance management, packaging design, printing, marking, and traceability for industrial clients.
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AI Analysis | Feedback

Veralto Corporation primarily sells its products and services to other companies (B2B). Its major customers fall into the following categories:

  • Water Utilities and Municipalities: For its water supply services and water treatment solutions that source water to consumers and manage the water cycle.
  • Food and Beverage Companies: For packaging design, quality management, marking, coding, and traceability applications.
  • Consumer Packaged Goods (CPG) Companies: For color and appearance management, packaging design, quality management, printing, marking, coding, and traceability applications.
  • Pharmaceutical Companies: For packaging design, quality management, printing, marking, coding, and traceability applications, crucial for regulatory compliance and product integrity.
  • Industrial Product Companies: For various applications including color and appearance management, packaging design, quality management, printing, marking, coding, and traceability.

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Jennifer L. Honeycutt, President and Chief Executive Officer

Jennifer L. Honeycutt leads Veralto with a strong vision for the future, working closely with the executive team to foster an inclusive culture, drive operational excellence through the Veralto Enterprise System, and create value for associates, customers, and shareholders. She joined Danaher in 1999 and has held various senior leadership roles, consistently delivering results by building high-performing teams, driving innovation and commercial execution, and leading strategic M&A execution and integration. Most recently, she served as Executive Vice President of Danaher's Environmental and Applied Solutions segment, which was spun off to become Veralto. She originally joined Danaher with the 2000 acquisition of Hach and has held senior leadership roles with several Veralto companies, including Hach and Linx. Her career at Danaher spans over 20 years, with experience across water quality, sensors and controls, product identification, life sciences, and genomic medicines. She assumed her current role as President and CEO of Veralto in November 2022.

Sameer Ralhan, Senior Vice President and Chief Financial Officer

Sameer Ralhan is responsible for Veralto's financial strategy, encompassing capital deployment, portfolio development, and financial execution to achieve long-term growth and value creation. He also leads key engagements with the investment community and regulatory and financial institutions, working to build a world-class finance function and oversee financial performance, reporting, controls, risk management, and fiscal accountability. Prior to joining Veralto, Sameer served as Senior Vice President and Chief Financial Officer at The Chemours Company since 2019, where he held positions of increasing responsibility across finance, strategy, M&A, corporate financial planning and analysis, treasury, capital markets, and business process transformation after joining in 2014. He also served as a Managing Director in the Global Natural Resources Group of Goldman Sachs and began his career as a chemical engineer.

Mattias Byström, Senior Vice President and Chief Segment Officer, Product Quality & Innovation

Mattias Byström serves as the Senior Vice President and Chief Segment Officer for Product Quality & Innovation at Veralto.

Melissa Kapity, Senior Vice President and Chief Segment Officer, Water Quality

Melissa Kapity holds the position of Senior Vice President and Chief Segment Officer for Water Quality at Veralto.

Lesley Beneteau, Senior Vice President and Chief Human Resources Officer

Lesley Beneteau is the Senior Vice President and Chief Human Resources Officer at Veralto.

AI Analysis | Feedback

Here are the key risks to Veralto's business:

  1. Global Economic Conditions and Macroeconomic Headwinds: Veralto's operations are significantly exposed to global economic fluctuations, including military conflicts, inflation, and changes in trade policies and currency exchange rates. These factors can adversely affect customer spending, lead to reduced demand, and impact capital expenditures by municipal and industrial clients, particularly for equipment sales that drive future recurring revenue streams.
  2. Intense Competition and Technological Disruption: Veralto operates in highly competitive markets across its Water Quality and Product Quality & Innovation segments. The company faces challenges from established regional and global competitors, as well as new entrants. This competitive landscape can lead to pressure on pricing, potential margin compression, and difficulty in maintaining market share. Furthermore, the rapid pace of industry innovation and the emergence of disruptive technologies, including artificial intelligence, pose risks if Veralto fails to develop and commercialize new products and solutions in a timely manner.
  3. Trade Policies and Tariffs: Veralto's international presence, with a significant portion of its sales generated outside North America, makes it vulnerable to changes in global trade policies and the imposition of tariffs. Actions such as U.S. tariffs on imports from China and retaliatory measures can negatively impact Veralto's supply chain, increase operational costs, and adversely affect international sales and profitability.

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Veralto (symbol: VLTO) operates in several key addressable markets globally for its main products and services:

  • Water Treatment Solutions: The global water treatment system market is projected to grow from USD 295.3 billion in 2025 to USD 586.4 billion by 2035. Specifically, the global industrial water treatment market was estimated at USD 46.13 billion in 2024 and is projected to reach USD 71.63 billion by 2033. The global municipal water treatment market was valued at USD 470.6 billion in 2024 and is expected to grow to USD 600 billion by 2035.
  • Color and Appearance Management Software: The global color management software market was valued at approximately USD 5.9 billion in 2024 and is anticipated to reach around USD 11.2 billion by 2033. Another estimate places the global market size at USD 1.42 billion in 2024, projected to reach USD 3.12 billion by 2033.
  • Packaging Design and Quality Management Software/Services: The global packaging design services market was valued at USD 22.22 billion in 2025 and is anticipated to reach USD 31.50 billion by 2035. The global packaging design and simulation technology market was valued at approximately USD 867.28 million in 2024 and is predicted to grow to around USD 1624.94 million by 2034.
  • Packaging Converting (Machinery): The global packaging machinery market was estimated at USD 59.30 billion in 2024 and is projected to reach USD 80.96 billion by 2030. Another source indicates a market size of USD 52.40 billion in 2025, projected to surge to approximately USD 82.23 billion by 2035.
  • Printing, Marking, and Coding Solutions: The global coding and marking equipment market size was valued at USD 18.87 billion in 2025 and is projected to grow to USD 32.06 billion by 2034. The global industrial marking and coding systems market was valued at approximately USD 8.5 billion in 2024 and is projected to reach an estimated USD 13.2 billion by 2034. The industrial printer market is valued at USD 13.7 billion in 2026 and forecasted to reach USD 26.3 billion by 2036.
  • Traceability Applications (Food and Beverage, Pharmaceutical): The global pharmaceutical traceability market was valued at USD 6.42 billion in 2024 and is projected to reach USD 20.10 billion by 2031. The global food traceability market size was valued at USD 34.35 billion in 2025 and is projected to grow to USD 67.44 billion by 2034. The broader global track and trace solutions market (which includes both pharma and food & beverage) is estimated at US$ 7 billion in 2024 and is projected to grow to around US$ 39.22 billion by 2034.
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AI Analysis | Feedback

Veralto Corporation (VLTO) is expected to drive future revenue growth over the next two to three years through a combination of strategic initiatives and favorable market dynamics.

Here are 3-5 expected drivers of future revenue growth:

  1. Strong Demand and Strategic Acquisitions in Water Quality: Veralto's Water Quality segment is a significant driver, benefiting from robust demand for water analytics and treatment solutions in both industrial and municipal sectors. Increased government funding for water infrastructure in the U.S. further supports this growth. The company has also strategically expanded this segment through acquisitions, such as In-Situ Inc., which enhances its presence in environmental water monitoring and analytics.
  2. Consistent Growth and Recurring Revenue within Product Quality & Innovation (PQI): The Product Quality & Innovation segment, encompassing solutions for packaging design, marking, and coding, demonstrates consistent growth. A key aspect of this segment's revenue generation is its "razor/razor-blade" business model, where initial equipment sales lead to ongoing, high-margin recurring revenue from consumables and services.
  3. Targeted Mergers and Acquisitions (M&A): Veralto has a stated strategy of pursuing strategic acquisitions to enhance its portfolio quality and expand capabilities in its core markets. Recent acquisitions like In-Situ, Aquafides, and TraceGains exemplify this approach, with management indicating an active M&A pipeline focused on both water quality and product quality inspection businesses.
  4. Leveraging Secular Growth Trends in Key End Markets and Strategic Geographic Expansion: The company is well-positioned to capitalize on long-term secular trends in critical areas such as water treatment, food safety testing, and environmental services. There is also a strategic focus on high-growth areas, including providing AI-powered products for data centers to address demand for energy efficiency and reduced water consumption, and expanding into emerging markets like Latin America, India, and the Middle East.
  5. Effective Pricing Strategies: Veralto has consistently implemented strategic pricing actions that contribute to its core sales growth, demonstrating its ability to capture value from its differentiated products and services.

AI Analysis | Feedback

Veralto Corporation (VLTO) has made the following capital allocation decisions over the last 3-5 years, primarily since its spin-off in 2023:

Share Repurchases

  • Veralto authorized a share repurchase program of up to $750 million of its common stock in November 2025.
  • This repurchase program has no specified expiration date.

Share Issuance

  • Veralto was spun off from Danaher Corporation in 2023, with Danaher stockholders receiving one share of Veralto common stock for every three shares of Danaher common stock held.
  • Net total equity issued/repurchased was reported as $0.004 billion in 2023 and $0.024 billion in 2024.

Outbound Investments

  • In early 2026, Veralto completed the acquisition of In-Situ, a water monitoring solutions provider, for $427 million (or $435 million, with an effective price of $422 million after tax benefits), enhancing its Water Analytics portfolio.
  • In 2025, Veralto completed other acquisitions, including Aquafides and TraceGains, and divested AVT to improve portfolio quality and growth.

Capital Expenditures

  • Veralto's capital expenditures for the last 12 months ending December 31, 2025, were -$63.00 million.
  • Quarterly capital expenditures are modest, typically ranging between $11 million and $22 million.
  • Projected capital expenditures are $69.34 million for 2026, $67.85 million for 2027, and $71.18 million for 2028, reflecting ongoing investments.

Better Bets vs. Veralto (VLTO)

Peer Outperformance in Environmental & Facilities Services

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Share of Environmental & Facilities Services constituents that VLTO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
72%
of 32 industry peers · 11.3% return
3Y
77%
of 30 industry peers · 63.3% return
5Y
—
insufficient peer history
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Median price return by industry across the Industrials sector, ranked by 5Y. Environmental & Facilities Services is VLTO's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Marine Transportation 5 55.5%57.8%159.8% MATX 186% · KEX 175%
Construction & Engineering 29 -6.3%106.7%152.2% STRL 1339% · FIX 1275% · AGX 809%
Construction Machinery & Heavy Transportation Equipment 13 13.4%67.0%104.9% ALSN 249% · CAT 231% · WAB 217%
Aerospace & Defense 52 -10.2%63.7%67.6% ATI 929% · FTAI 906% · HWM 581%
Trading Companies & Distributors 19 22.0%43.3%61.7% DXPE 429% · URI 221% · AIT 215%
Diversified Support Services 34 16.8%43.6%35.8% CXW 259% · OPLN 166% · CACI 135%
Industrial Machinery & Supplies & Components 72 2.5%50.4%35.8% CRS 865% · MLI 344% · SYM 280%
Rail Transportation 7 32.3%58.6%29.9% CSX 54% · UNP 41% · NSC 30%
Building Products 32 -6.7%15.1%22.5% GFF 363% · TT 141% · JCI 124%
Electrical Components & Equipment 37 -6.3%79.7%17.1% POWL 1863% · VRT 810% · BE 550%
Cargo Ground Transportation 16 36.2%6.3%11.9% R 275% · XPO 263% · ARCB 43%
Industrial Conglomerates 17 16.3%5.5%2.4% CSW 111% · DD 85% · CSL 78%
Office Services & Supplies 9 29.6%20.6%-9.3% PBI 186% · TILE 161% · HNI 55%
Data Processing & Outsourced Services 6 -19.7%0.1%-15.9% EXLS 69% · BR 10% · G -13%
Security & Alarm Services 9 -51.5%24.2%-17.6% BCO 58%
Agricultural & Farm Machinery 16 8.3%-4.2%-19.6% DE 111% · TTC 23% · AGCO 5%
Environmental & Facilities Services ← 29 -30.8%33.9%-25.0% GEO 249% · CLH 168% · RSG 93%
Research & Consulting Services 13 8.7%-12.8%-25.4% HURN 288% · FCN 27% · BAH 12%
Passenger Airlines 11 -2.5%51.6%-32.4% LTM 2856% · UAL 126% · DAL 113%
Passenger Ground Transportation 3 -20.4%50.8%-34.4% UBER 49% · CAR -34% · LYFT -65%
Air Freight & Logistics 12 -19.0%-9.0%-39.3% FDX 84% · EXPD 71% · CHRW 45%
Human Resource & Employment Services 22 20.9%-8.2%-42.8% ADP 46% · FA 28% · PAYX 6%
Airport Services 4 -52.8%-59.3%-85.9% JOBY -44%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VLTOCWSTGEOCECOFTEKWMMedian
NameVeralto Casella .GEO CECO Env.Fuel TechWaste Ma. 
Mkt Price111.1093.3328.52-1.46233.9293.33
Mkt Cap27.15.93.7-0.093.35.9
Rev LTM5,8011,9552,827-2726,0702,827
Op Inc LTM1,26794353--54,842353
FCF LTM1,09310526--13,740105
FCF 3Y Avg95982120--12,748120
CFO LTM1,156351199--06,565351
CFO 3Y Avg1,020307240--05,894307

Growth & Margins

VLTOCWSTGEOCECOFTEKWMMedian
NameVeralto Casella .GEO CECO Env.Fuel TechWaste Ma. 
Rev Chg LTM6.4%13.6%15.3%-8.9%5.2%8.9%
Rev Chg 3Y Avg5.2%20.6%5.3%--0.4%9.1%5.3%
Rev Chg Q7.5%16.9%15.1%-16.7%6.3%15.1%
QoQ Delta Rev Chg LTM1.8%4.2%3.5%-3.5%1.6%3.5%
Op Inc Chg LTM-0.2%-3.5%24.7%--0.6%10.8%-0.2%
Op Inc Chg 3Y Avg3.4%-2.6%-1.8%--33.0%10.5%-1.8%
Op Mgn LTM21.8%4.8%12.5%--16.8%18.6%12.5%
Op Mgn 3Y Avg22.7%5.8%12.5%--15.5%18.7%12.5%
QoQ Delta Op Mgn LTM-0.9%-0.1%0.6%--0.4%0.1%-0.1%
CFO/Rev LTM19.9%18.0%7.0%--0.8%25.2%18.0%
CFO/Rev 3Y Avg18.6%17.9%9.5%--1.8%24.5%17.9%
FCF/Rev LTM18.8%5.4%0.9%--4.3%14.3%5.4%
FCF/Rev 3Y Avg17.5%4.7%4.9%--4.0%11.3%4.9%

Valuation

VLTOCWSTGEOCECOFTEKWMMedian
NameVeralto Casella .GEO CECO Env.Fuel TechWaste Ma. 
Mkt Cap27.15.93.7-0.093.35.9
P/S4.73.01.3-1.73.63.0
P/Op Inc21.463.010.5--9.919.319.3
P/EBIT21.383.66.8--9.919.419.4
P/E27.01,040.812.8--13.130.427.0
P/CFO23.416.918.7--214.714.216.9
Total Yield4.2%0.1%7.8%--7.7%4.9%4.2%
Dividend Yield0.5%0.0%0.0%-0.0%1.6%0.0%
FCF Yield 3Y Avg3.8%1.5%5.8%--3.2%3.3%3.3%
D/E0.10.20.4-0.00.30.2
Net D/E0.00.20.4--0.40.20.2

Returns

VLTOCWSTGEOCECOFTEKWMMedian
NameVeralto Casella .GEO CECO Env.Fuel TechWaste Ma. 
1M Rtn17.8%16.2%-6.4%--9.9%14.7%14.7%
3M Rtn18.1%4.0%-7.7%-3.5%3.7%3.7%
6M Rtn27.1%7.5%52.1%--9.3%3.1%7.5%
12M Rtn11.3%12.7%72.7%--43.0%18.6%12.7%
3Y Rtn63.3%23.7%226.3%-43.2%49.0%49.0%
1M Excs Rtn16.4%18.5%-8.4%--16.1%14.8%14.8%
3M Excs Rtn15.4%-0.4%-10.9%--4.6%1.9%-0.4%
6M Excs Rtn20.0%0.4%45.0%--16.5%-4.0%0.4%
12M Excs Rtn-0.1%-1.5%58.6%--57.2%8.0%-0.1%
3Y Excs Rtn-25.8%-62.3%135.1%--42.4%-35.9%-35.9%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Water Quality3,3213,1383,0392,8872,669
Product Quality & Innovation2,1822,0551,9821,9832,031
Total5,5035,1935,0214,8704,700


Operating Income by Segment
$ Mil20252024202320222021
Water Quality844768730668584
Product Quality & Innovation549529472488496
Other-116-89-62-44-39
Total1,2771,2081,1401,1121,041


Assets by Segment
$ Mil20252024202320222021
Product Quality & Innovation2,8102,6572,2892,2812,290
Water Quality2,6512,4502,5082,5442,550
Other2,2321,29989600
Total7,6936,4065,6934,8254,840


Price Behavior

Price Behavior
Market Price$111.10 
Market Cap ($ Bil)27.1 
First Trading Date10/02/2023 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$98.13$92.76
DMA Trendupindeterminate
Distance from DMA13.2%19.8%
 3M1YR
Volatility22.4%24.1%
Downside Capture-2.9815.31
Upside Capture46.9017.68
Correlation (S&P 500)8.3%12.5%
VLTO Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.640.64-0.03-0.080.270.00
Up Beta-0.100.40-0.94-0.140.200.61
Down Beta1.101.210.390.370.550.15
Up Capture48%61%28%-6%8%26%
Bmk +ve Days6162766132424
Stock +ve Days12233662115383
Down Capture109%73%-5%-41%37%87%
Bmk -ve Days16263760120328
Stock -ve Days10192864137367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VLTO
VLTO12.3%24.1%0.42-
Sector ETF (XLI)8.9%17.3%0.3212.0%
Equity (SPY)10.9%12.8%0.527.8%
Gold (GLD)-2.0%28.6%-0.08-4.1%
Commodities (DBC)48.2%20.6%1.79-18.6%
Real Estate (VNQ)10.2%13.7%0.4525.5%
Bitcoin (BTCUSD)-30.3%43.5%-0.71-1.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VLTO
VLTO5.8%23.7%0.32-
Sector ETF (XLI)11.4%17.6%0.4841.5%
Equity (SPY)12.2%17.1%0.5338.4%
Gold (GLD)16.2%19.0%0.680.1%
Commodities (DBC)9.2%19.5%0.35-4.5%
Real Estate (VNQ)0.9%18.9%-0.0641.9%
Bitcoin (BTCUSD)4.8%51.6%0.2810.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VLTO
VLTO2.8%23.7%0.32-
Sector ETF (XLI)13.2%20.1%0.5841.5%
Equity (SPY)15.2%17.9%0.7238.4%
Gold (GLD)11.4%16.5%0.560.1%
Commodities (DBC)8.2%18.1%0.37-4.5%
Real Estate (VNQ)5.3%20.7%0.2141.9%
Bitcoin (BTCUSD)61.7%66.2%1.0110.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity6.1 Mil
Short Interest: % Change Since 9302026-3.9%
Average Daily Volume1.7 Mil
Days-to-Cover Short Interest3.5 days
Basic Shares Quantity243.8 Mil
Short % of Basic Shares2.5%

Returns Analyses

Earnings Returns History

Updated 10/31/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/20266.8%  
7/28/20260.4%-2.1%0.2%
4/28/20264.5%3.0%-2.5%
2/3/2026-6.2%-4.8%-2.3%
10/28/2025-3.0%-2.8%-1.2%
7/28/20251.9%3.7%3.9%
4/29/20253.0%2.4%8.8%
2/4/2025-5.1%-1.2%-3.0%
...
SUMMARY STATS   
# Positive867
# Negative565
Median Positive3.8%3.3%8.1%
Median Negative-4.6%-3.7%-2.5%
Max Positive6.8%7.1%15.1%
Max Negative-6.2%-6.9%-4.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/20266.8%  
7/28/20260.4%-2.1%0.2%
4/28/20264.5%3.0%-2.5%
2/3/2026-6.2%-4.8%-2.3%
10/28/2025-3.0%-2.8%-1.2%
7/28/20251.9%3.7%3.9%
4/29/20253.0%2.4%8.8%
2/4/2025-5.1%-1.2%-3.0%
10/23/2024-4.6%-6.9%-4.4%
7/25/20245.3%7.1%12.2%
4/24/20241.5%2.1%8.1%
2/6/20244.6%5.9%15.1%
10/25/2023-1.1%-4.6%4.5%
SUMMARY STATS   
# Positive867
# Negative565
Median Positive3.8%3.3%8.1%
Median Negative-4.6%-3.7%-2.5%
Max Positive6.8%7.1%15.1%
Max Negative-6.2%-6.9%-4.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/30/202610-Q
06/30/202607/29/202610-Q
03/31/202604/29/202610-Q
12/31/202502/20/202610-K
09/30/202510/29/202510-Q
06/30/202507/28/202510-Q
03/31/202504/30/202510-Q
12/31/202402/25/202510-K
09/30/202410/24/202410-Q
06/30/202407/26/202410-Q
03/31/202404/24/202410-Q
12/31/202302/28/202410-K
09/30/202310/26/202310-Q
06/30/202308/25/202310-12B/A
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/30/202610-Q
06/30/202607/29/202610-Q
03/31/202604/29/202610-Q
12/31/202502/20/202610-K
09/30/202510/29/202510-Q
06/30/202507/28/202510-Q
03/31/202504/30/202510-Q
12/31/202402/25/202510-K
09/30/202410/24/202410-Q
06/30/202407/26/202410-Q
03/31/202404/24/202410-Q
12/31/202302/28/202410-K
09/30/202310/26/202310-Q
06/30/202308/25/202310-12B/A

Recent Forward Guidance

Updated 10/30/2026

Latest: Q3 2026 Earnings Reported 10/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Core Sales GrowthReported5.5%6.0%6.5% 1.5%Higher NewGuidance: 4.5% for Q3 2026
Q4 2026 Adjusted Operating Profit MarginReported 24.5%    
Q4 2026 Adjusted Diluted Net Earnings per ShareReported1.131.151.166.5% Higher NewGuidance: 1.08 for Q3 2026
2026 Cost Optimization Program SavingsReported10.00 Mil12.50 Mil15.00 Mil   
2026 Core Sales GrowthReported4.2%4.35%4.5% 0.1%RaisedGuidance: 4.25% for 2026
2026 Adjusted Operating Profit Margin ExpansionReported 0.5%  0.1%RaisedGuidance: 0.38% for 2026
2026 Adjusted Diluted Net Earnings per ShareReported4.494.514.522.6% RaisedGuidance: 4.39 for 2026
2026 Adjusted Diluted Earnings Per Share GrowthReported15.0%15.5%16.0%   
2026 Free cash flow to net earnings conversion ratioReported1.051.05    


Prior: Q1 2026 Earnings Reported 4/28/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Core Sales GrowthReported3.0%3.5%4.0% 1.5%Higher NewGuidance: 2.0% for Q1 2026
Q2 2026 Adjusted Operating Profit MarginReported 23.5%  -1.0%Lower NewGuidance: 24.5% for Q1 2026
Q2 2026 Adjusted Diluted Net Earnings per ShareReported0.960.981-1.0% Lower NewGuidance: 0.99 for Q1 2026
2026 Core Sales GrowthReported3.0%3.75%4.5% 0.2%RaisedGuidance: 3.5% for 2026
2026 Adjusted Operating Profit Margin ExpansionReported 0.25%  0.0%AffirmedGuidance: 0.25% for 2026
2026 Adjusted Diluted Net Earnings per ShareReported4.24.244.282.2% RaisedGuidance: 4.15 for 2026
2026 Free Cash Flow to Net Earnings Conversion RatioReported 1   AffirmedGuidance: 1 for 2026
2028 Cost Optimization Annual SavingsReported65.00 Mil70.00 Mil75.00 Mil   

Insider Activity

Updated 10/22/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Trivedi, SurekhaSVP, Strategy & SustainabilityDirectSell819202697.0598695,691831,233Form
2Honeycutt, JenniferPresident and CEODirectSell7312026101.527,097720,48712,597,109Form
3Honeycutt, JenniferPresident and CEODirectSell721202695.007,097674,21511,788,075Form
4Skeete, Bernard MChief Accounting OfficerDirectSell505202688.2130026,463419,880Form
5Kapity, MelissaSVP, Water QualityDirectSell303202696.6014,8401,433,544987,638Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Trivedi, SurekhaSVP, Strategy & SustainabilityDirectSell819202697.0598695,691831,233Form
2Honeycutt, JenniferPresident and CEODirectSell7312026101.527,097720,48712,597,109Form
3Honeycutt, JenniferPresident and CEODirectSell721202695.007,097674,21511,788,075Form
4Skeete, Bernard MChief Accounting OfficerDirectSell505202688.2130026,463419,880Form
5Kapity, MelissaSVP, Water QualityDirectSell303202696.6014,8401,433,544987,638Form
6Bystrom, MattiasSVP, PQIDirectSell12022025101.731,000101,7303,197,374Form

Investor Activity (13F)

Updated Oct 31, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Rudius Management LP$222.0 Mil62.1%6TRIM -14.2%13F
Defender Capital, LLC.$21.2 Mil7.5%34ADD +18.0%13F
Gates Capital Management, Inc.$95.5 Mil3.3%31ADD +36.2%13F
HFR Wealth Management, LLC$9.8 Mil2.4%49Hold13F
Triodos Investment Management BV$26.0 Mil2.0%49ADD +58.3%13F
Mirova US LLC$149.4 Mil1.7%42ADD +60.4%13F
Walter Public Investments Inc.$6.0 Mil1.4%48TRIM -50.8%13F
Gates Foundation Trust$11.0 Mil0.0%22Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Mirova US LLC$149.4 Mil1.7%42ADD +60.4%13F
Triodos Investment Management BV$26.0 Mil2.0%49ADD +58.3%13F
Gates Capital Management, Inc.$95.5 Mil3.3%31ADD +36.2%13F
Defender Capital, LLC.$21.2 Mil7.5%34ADD +18.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Walter Public Investments Inc.$6.0 Mil1.4%48TRIM -50.8%13F
Rudius Management LP$222.0 Mil62.1%6TRIM -14.2%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Rudius Management LP$222.0 Mil62.1%6TRIM -14.2%13F
Mirova US LLC$149.4 Mil1.7%42ADD +60.4%13F
Gates Capital Management, Inc.$95.5 Mil3.3%31ADD +36.2%13F
Triodos Investment Management BV$26.0 Mil2.0%49ADD +58.3%13F
Defender Capital, LLC.$21.2 Mil7.5%34ADD +18.0%13F
Gates Foundation Trust$11.0 Mil0.0%22Hold13F
HFR Wealth Management, LLC$9.8 Mil2.4%49Hold13F
Walter Public Investments Inc.$6.0 Mil1.4%48TRIM -50.8%13F
Core Cache Last Updated: 10/30/2026