Veralto (VLTO)
Market Price (10/16/2026): $100.95 | Market Cap: $24.8 BilSector: Industrials | Industry: Environmental & Facilities Services
Veralto (VLTO)
Market Price (10/16/2026): $100.95Market Cap: $24.8 BilSector: IndustrialsIndustry: Environmental & Facilities Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% Low stock price volatilityVol 12M is 23% Megatrend and thematic driversMegatrends include Water Infrastructure, and Automation & Robotics. Themes include Water Treatment & Delivery, Wastewater Management, Show more. | Trading close to highsDist 52W High is -3.5% Weak multi-year price returns2Y Excs Rtn is -44%, 3Y Excs Rtn is -43% | Key risksVLTO key risks include [1] intense competition in its core markets that threatens to erode market share and profitability. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 23% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Automation & Robotics. Themes include Water Treatment & Delivery, Wastewater Management, Show more. |
| Trading close to highsDist 52W High is -3.5% |
| Weak multi-year price returns2Y Excs Rtn is -44%, 3Y Excs Rtn is -43% |
| Key risksVLTO key risks include [1] intense competition in its core markets that threatens to erode market share and profitability. |
Qualitative Assessment
AI Analysis | Feedback
Veralto (VLTO) stock has gained about 15% since 6/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Financial Performance and Upgraded Outlook.
Veralto significantly exceeded analyst expectations for its fiscal Q2 2026, which ended on July 3, 2026. The company reported earnings per share (EPS) of $1.11, outperforming consensus estimates of $1.01 by $0.10. Revenue also saw a 7.5% year-over-year increase, reaching $1.47 billion against an estimated $1.45 billion. Following these strong results, Veralto raised its full-year adjusted EPS guidance to a range of $4.35 to $4.43 per share, representing a projected 12% to 14% growth year-over-year.
2. Strategic Acquisitions Enhancing Water Quality Portfolio.
During the period, Veralto made key strategic acquisitions to bolster its position in the water quality solutions market. On July 21, 2026, the company acquired Alfaa UV, expanding its ultraviolet water treatment capabilities. This was followed by an agreement on August 19, 2026, to acquire Cleanwater1, aiming to strengthen Veralto's leadership in water disinfection and contaminant removal, while also expanding its presence in high-growth chlorine disinfection and solid management applications.
Show more
Veralto (VLTO) stock has gained about 15% since 6/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Financial Performance and Upgraded Outlook.
Veralto significantly exceeded analyst expectations for its fiscal Q2 2026, which ended on July 3, 2026. The company reported earnings per share (EPS) of $1.11, outperforming consensus estimates of $1.01 by $0.10. Revenue also saw a 7.5% year-over-year increase, reaching $1.47 billion against an estimated $1.45 billion. Following these strong results, Veralto raised its full-year adjusted EPS guidance to a range of $4.35 to $4.43 per share, representing a projected 12% to 14% growth year-over-year.
2. Strategic Acquisitions Enhancing Water Quality Portfolio.
During the period, Veralto made key strategic acquisitions to bolster its position in the water quality solutions market. On July 21, 2026, the company acquired Alfaa UV, expanding its ultraviolet water treatment capabilities. This was followed by an agreement on August 19, 2026, to acquire Cleanwater1, aiming to strengthen Veralto's leadership in water disinfection and contaminant removal, while also expanding its presence in high-growth chlorine disinfection and solid management applications.
3. Positive Analyst Sentiment and Increased Price Targets.
Following the robust fiscal Q2 2026 results and strategic moves, numerous financial analysts revised their outlooks on Veralto. Several firms, including UBS, BNP Paribas, RBC Capital, Citigroup, Stifel, and Barclays, raised their price targets for VLTO on July 30, 2026. For instance, UBS increased its price target from $98 to $104, while BNP Paribas moved from $115 to $120. Furthermore, Wolfe Research initiated coverage with an "Outperform" rating and a $125 price target on September 15, 2026. The consensus among analysts resulted in a "Moderate Buy" rating for the stock, with an average price target of $112.70 to $114.00, suggesting an upside potential of 14.74% to 17.61% from recent trading prices.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
6/30/2026 to 10/15/2026| Return | Correlation | |
|---|---|---|
| VLTO | 13.7% | |
| Market (SPY) | 3.4% | -2.4% |
| Sector (XLI) | -9.8% | 5.9% |
Fundamental Drivers
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Market Drivers
3/31/2026 to 10/15/2026| Return | Correlation | |
|---|---|---|
| VLTO | 14.2% | |
| Market (SPY) | 19.0% | -5.0% |
| Sector (XLI) | 3.5% | 6.1% |
Fundamental Drivers
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Market Drivers
9/30/2025 to 10/15/2026| Return | Correlation | |
|---|---|---|
| VLTO | -5.0% | |
| Market (SPY) | 16.8% | 14.8% |
| Sector (XLI) | 9.3% | 17.3% |
Fundamental Drivers
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Market Drivers
9/30/2023 to 10/15/2026| Return | Correlation | |
|---|---|---|
| VLTO | ||
| Market (SPY) | 86.7% | 41.0% |
| Sector (XLI) | 71.3% | 43.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VLTO Return | - | - | -3% | 24% | -2% | 1% | 20% |
| Peers Return | -1% | 22% | 16% | 49% | 21% | 14% | 190% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| VLTO Win Rate | - | - | 67% | 58% | 58% | 40% | |
| Peers Win Rate | 52% | 48% | 52% | 55% | 53% | 56% | |
| S&P 500 Win Rate | 75% | 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 10/15/2026 (YTD)
How Low Can It Go
| Event | VLTO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -12.6% | -18.8% |
| % Gain to Breakeven | 14.4% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.7% | -9.5% |
| % Gain to Breakeven | 26.1% | 10.5% |
| Time to Breakeven | 106 days | 24 days |
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.
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| Event | VLTO | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.7% | -9.5% |
| % Gain to Breakeven | 26.1% | 10.5% |
| Time to Breakeven | 106 days | 24 days |
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.
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Veralto is like Xylem for industrial water solutions, combined with Zebra Technologies for factory product marking and traceability.
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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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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.
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Here are the key risks to Veralto's business:
- 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.
- 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.
- 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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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:
- 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.
- 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.
- 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.
- 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.
- 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.
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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.
Peer Outperformance in Environmental & Facilities Services
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 30 | -3.0% | 106.8% | 172.7% | STRL 1832% · FIX 1781% · AGX 805% |
| Marine Transportation | 5 | 62.7% | 49.0% | 143.3% | MATX 205% · KEX 151% |
| Construction Machinery & Heavy Transportation Equipment | 13 | -4.0% | 45.4% | 88.9% | CAT 303% · ALSN 245% · WAB 221% |
| Aerospace & Defense | 52 | -12.7% | 53.6% | 59.6% | ATI 1001% · FTAI 821% · HWM 604% |
| Trading Companies & Distributors | 19 | 5.5% | 24.8% | 42.6% | DXPE 451% · AIT 265% · URI 212% |
| Rail Transportation | 7 | 25.4% | 61.7% | 42.2% | CSX 53% · UNP 42% · NSC 31% |
| Industrial Machinery & Supplies & Components | 72 | 9.2% | 46.2% | 40.3% | CRS 1097% · MLI 498% · SYM 284% |
| Cargo Ground Transportation | 16 | 39.4% | 3.0% | 28.7% | XPO 279% · R 223% · ARCB 60% |
| Diversified Support Services | 34 | 10.8% | 27.4% | 27.0% | CXW 232% · OPLN 134% · CACI 117% |
| Building Products | 33 | -13.9% | 6.3% | 18.5% | GFF 335% · TT 188% · JCI 129% |
| Electrical Components & Equipment | 38 | -12.8% | 51.9% | 13.6% | POWL 1974% · BE 1033% · VRT 877% |
| Industrial Conglomerates | 17 | 11.3% | 2.0% | -2.6% | CSW 115% · DD 64% · CSL 63% |
| Agricultural & Farm Machinery | 17 | 0.6% | -6.2% | -8.7% | DE 109% · TTC 9% · AGCO -4% |
| Environmental & Facilities Services ← | 30 | -36.7% | 19.6% | -10.1% | CECO 782% · GEO 253% · CLH 196% |
| Research & Consulting Services | 13 | -3.2% | -23.3% | -21.5% | HURN 242% · FCN 2% · BAH 2% |
| Data Processing & Outsourced Services | 6 | -25.0% | -8.5% | -21.5% | EXLS 57% · BR 6% · G -19% |
| Office Services & Supplies | 9 | 22.6% | 16.5% | -23.0% | PBI 197% · TILE 136% · HNI 45% |
| Passenger Ground Transportation | 3 | -26.7% | 55.0% | -23.5% | UBER 43% · CAR -23% · LYFT -68% |
| Security & Alarm Services | 9 | -56.1% | 10.3% | -27.8% | BCO 78% |
| Passenger Airlines | 11 | -3.3% | 5.9% | -36.8% | LTM 2989% · UAL 106% · DAL 98% |
| Air Freight & Logistics | 12 | -17.2% | -25.9% | -40.1% | EXPD 81% · FDX 78% · CHRW 71% |
| Human Resource & Employment Services | 22 | 11.8% | -19.5% | -42.0% | ADP 50% · PAYX 9% · FA 2% |
| Airport Services | 4 | -73.8% | -69.9% | -82.1% | JOBY -47% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Veralto Earnings Notes | 12/25/2025 | |
| How Low Can Veralto Stock Really Go? | 10/17/2025 | |
| Why Veralto Stock Moved: VLTO Stock Has Gained 23% Since 2023 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S) | 08/08/2025 | |
| Veralto (VLTO) Valuation Ratios Comparison | 05/15/2025 | |
| Veralto (VLTO) Operating Cash Flow Comparison | 02/17/2025 | |
| Veralto (VLTO) Net Income Comparison | 02/16/2025 | |
| Veralto (VLTO) Operating Income Comparison | 02/15/2025 | |
| Veralto (VLTO) Revenue Comparison | 02/14/2025 | |
| ARTICLES | ||
| S&P 500 Stocks Trading At 52-Week Low | 05/28/2026 |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 73.51 |
| Mkt Cap | 4.7 |
| Rev LTM | 2,391 |
| Op Inc LTM | 224 |
| FCF LTM | 66 |
| FCF 3Y Avg | 101 |
| CFO LTM | 275 |
| CFO 3Y Avg | 274 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.2% |
| Rev Chg 3Y Avg | 7.0% |
| Rev Chg Q | 15.9% |
| QoQ Delta Rev Chg LTM | 3.5% |
| Op Inc Chg LTM | 7.2% |
| Op Inc Chg 3Y Avg | 1.0% |
| Op Mgn LTM | 9.2% |
| Op Mgn 3Y Avg | 9.5% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 12.5% |
| CFO/Rev 3Y Avg | 13.7% |
| FCF/Rev LTM | 3.2% |
| FCF/Rev 3Y Avg | 4.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Water Quality | 3,321 | 3,138 | 3,039 | 2,887 | 2,669 |
| Product Quality & Innovation | 2,182 | 2,055 | 1,982 | 1,983 | 2,031 |
| Total | 5,503 | 5,193 | 5,021 | 4,870 | 4,700 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Water Quality | 844 | 768 | 730 | 668 | 584 |
| Product Quality & Innovation | 549 | 529 | 472 | 488 | 496 |
| Other | -116 | -89 | -62 | -44 | -39 |
| Total | 1,277 | 1,208 | 1,140 | 1,112 | 1,041 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Product Quality & Innovation | 2,810 | 2,657 | 2,289 | 2,281 | 2,290 |
| Water Quality | 2,651 | 2,450 | 2,508 | 2,544 | 2,550 |
| Other | 2,232 | 1,299 | 896 | 0 | 0 |
| Total | 7,693 | 6,406 | 5,693 | 4,825 | 4,840 |
Price Behavior
| Market Price | $100.66 | |
| Market Cap ($ Bil) | 24.7 | |
| First Trading Date | 10/02/2023 | |
| Distance from 52W High | -3.5% | |
| 50 Days | 200 Days | |
| DMA Price | $96.85 | $92.59 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 3.9% | 8.7% |
| 3M | 1YR | |
| Volatility | 22.2% | 23.1% |
| Downside Capture | 28.64 | 28.26 |
| Upside Capture | 47.01 | 18.98 |
| Correlation (S&P 500) | 3.5% | 16.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.64 | 0.64 | -0.03 | -0.08 | 0.27 | 0.00 |
| Up Beta | -0.10 | 0.40 | -0.94 | -0.14 | 0.20 | 0.61 |
| Down Beta | 1.10 | 1.21 | 0.39 | 0.37 | 0.55 | 0.15 |
| Up Capture | 48% | 61% | 28% | -6% | 8% | 26% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 12 | 23 | 36 | 62 | 115 | 383 |
| Down Capture | 109% | 73% | -5% | -41% | 37% | 87% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 19 | 28 | 64 | 137 | 367 |
[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 | |
|---|---|---|---|---|
| VLTO | -0.8% | 23.2% | -0.11 | - |
| Sector ETF (XLI) | 10.0% | 17.2% | 0.38 | 16.7% |
| Equity (SPY) | 17.6% | 12.7% | 0.99 | 14.6% |
| Gold (GLD) | 0.5% | 29.5% | 0.02 | 2.1% |
| Commodities (DBC) | 50.9% | 20.7% | 1.88 | -17.9% |
| Real Estate (VNQ) | 4.7% | 13.7% | 0.08 | 27.3% |
| Bitcoin (BTCUSD) | -28.1% | 43.7% | -0.63 | 1.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLTO | |
|---|---|---|---|---|
| VLTO | 3.7% | 23.4% | 0.19 | - |
| Sector ETF (XLI) | 12.2% | 17.6% | 0.53 | 43.7% |
| Equity (SPY) | 13.4% | 17.1% | 0.60 | 41.0% |
| Gold (GLD) | 18.5% | 18.9% | 0.79 | 2.4% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | -4.4% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 42.2% |
| Bitcoin (BTCUSD) | 8.7% | 51.8% | 0.35 | 11.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VLTO | |
|---|---|---|---|---|
| VLTO | 1.8% | 23.4% | 0.19 | - |
| Sector ETF (XLI) | 13.0% | 20.1% | 0.56 | 43.7% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 41.0% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 2.4% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | -4.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 42.2% |
| Bitcoin (BTCUSD) | 63.1% | 66.2% | 1.03 | 11.8% |
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Returns Analyses
Earnings Returns History
Updated 8/28/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 0.4% | -2.1% | 0.2% |
| 2/3/2026 | -6.2% | -4.8% | -2.3% |
| 4/29/2025 | 3.0% | 2.4% | 8.8% |
| 2/4/2025 | -5.1% | -1.2% | -3.0% |
| 10/23/2024 | -4.6% | -6.9% | -4.4% |
| 7/25/2024 | 5.3% | 7.1% | 12.2% |
| 2/6/2024 | 4.6% | 5.9% | 15.1% |
| 10/25/2023 | -1.1% | -4.6% | 4.5% |
| SUMMARY STATS | |||
| # Positive | 4 | 3 | 5 |
| # Negative | 4 | 5 | 3 |
| Median Positive | 3.8% | 5.9% | 8.8% |
| Median Negative | -4.9% | -4.6% | -3.0% |
| Max Positive | 5.3% | 7.1% | 15.1% |
| Max Negative | -6.2% | -6.9% | -4.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/28/2026 | 0.4% | -2.1% | 0.2% |
| 2/3/2026 | -6.2% | -4.8% | -2.3% |
| 4/29/2025 | 3.0% | 2.4% | 8.8% |
| 2/4/2025 | -5.1% | -1.2% | -3.0% |
| 10/23/2024 | -4.6% | -6.9% | -4.4% |
| 7/25/2024 | 5.3% | 7.1% | 12.2% |
| 2/6/2024 | 4.6% | 5.9% | 15.1% |
| 10/25/2023 | -1.1% | -4.6% | 4.5% |
| SUMMARY STATS | |||
| # Positive | 4 | 3 | 5 |
| # Negative | 4 | 5 | 3 |
| Median Positive | 3.8% | 5.9% | 8.8% |
| Median Negative | -4.9% | -4.6% | -3.0% |
| Max Positive | 5.3% | 7.1% | 15.1% |
| Max Negative | -6.2% | -6.9% | -4.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/28/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/25/2023 | 10-12B/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/28/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 10/24/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 08/25/2023 | 10-12B/A |
Recent Forward Guidance
Updated 7/29/2026Latest: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Core Sales Growth | Reported | 4.0% | 4.5% | 5.0% | ||||
| Q3 2026 Adjusted Operating Profit Margin Expansion | Reported | 0.25% | ||||||
| Q3 2026 Adjusted Diluted EPS | Reported | 1.06 | 1.08 | 1.09 | ||||
| 2026 Core Sales Growth | Reported | 4.0% | 4.25% | 4.5% | 0.8% | Raised | Guidance: 3.5% for 2026 | |
| 2026 Adjusted Operating Profit Margin Expansion | Reported | 0.25% | 0.38% | 0.5% | 0.1% | Raised | Guidance: 0.25% for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 4.35 | 4.39 | 4.43 | 5.8% | Raised | Guidance: 4.15 for 2026 | |
Insider Activity
Updated 8/19/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Trivedi, Surekha | SVP, Strategy & Sustainability | Direct | Sell | 8192026 | 97.05 | 986 | 95,691 | 831,233 | Form |
| 2 | Honeycutt, Jennifer | President and CEO | Direct | Sell | 7312026 | 101.52 | 7,097 | 720,487 | 12,597,109 | Form |
| 3 | Honeycutt, Jennifer | President and CEO | Direct | Sell | 7212026 | 95.00 | 7,097 | 674,215 | 11,788,075 | Form |
| 4 | Skeete, Bernard M | Chief Accounting Officer | Direct | Sell | 5052026 | 88.21 | 300 | 26,463 | 419,880 | Form |
| 5 | Kapity, Melissa | SVP, Water Quality | Direct | Sell | 3032026 | 96.60 | 14,840 | 1,433,544 | 987,638 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Trivedi, Surekha | SVP, Strategy & Sustainability | Direct | Sell | 8192026 | 97.05 | 986 | 95,691 | 831,233 | Form |
| 2 | Honeycutt, Jennifer | President and CEO | Direct | Sell | 7312026 | 101.52 | 7,097 | 720,487 | 12,597,109 | Form |
| 3 | Honeycutt, Jennifer | President and CEO | Direct | Sell | 7212026 | 95.00 | 7,097 | 674,215 | 11,788,075 | Form |
| 4 | Skeete, Bernard M | Chief Accounting Officer | Direct | Sell | 5052026 | 88.21 | 300 | 26,463 | 419,880 | Form |
| 5 | Kapity, Melissa | SVP, Water Quality | Direct | Sell | 3032026 | 96.60 | 14,840 | 1,433,544 | 987,638 | Form |
| 6 | Bystrom, Mattias | SVP, PQI | Direct | Sell | 12022025 | 101.73 | 1,000 | 101,730 | 3,197,374 | Form |
| 7 | Honeycutt, Jennifer | President and CEO | Direct | Sell | 9022025 | 106.26 | 10,646 | 1,131,244 | 11,286,831 | Form |
Investor Activity (13F)
Updated Oct 16, 2026Active 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 Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Rudius Management LP | $222.0 Mil | 62.1% | 6 | TRIM -14.2% | 13F |
| Defender Capital, LLC. | $21.2 Mil | 7.5% | 34 | ADD +18.0% | 13F |
| Gates Capital Management, Inc. | $95.5 Mil | 3.3% | 31 | ADD +36.2% | 13F |
| HFR Wealth Management, LLC | $9.8 Mil | 2.4% | 49 | Hold | 13F |
| Triodos Investment Management BV | $26.0 Mil | 2.0% | 49 | ADD +58.3% | 13F |
| Mirova US LLC | $149.4 Mil | 1.7% | 42 | ADD +60.4% | 13F |
| Walter Public Investments Inc. | $6.0 Mil | 1.4% | 48 | TRIM -50.8% | 13F |
| Gates Foundation Trust | $11.0 Mil | 0.0% | 22 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Rudius Management LP | $222.0 Mil | 62.1% | 6 | TRIM -14.2% | 13F |
| Mirova US LLC | $149.4 Mil | 1.7% | 42 | ADD +60.4% | 13F |
| Gates Capital Management, Inc. | $95.5 Mil | 3.3% | 31 | ADD +36.2% | 13F |
| Triodos Investment Management BV | $26.0 Mil | 2.0% | 49 | ADD +58.3% | 13F |
| Defender Capital, LLC. | $21.2 Mil | 7.5% | 34 | ADD +18.0% | 13F |
| Gates Foundation Trust | $11.0 Mil | 0.0% | 22 | Hold | 13F |
| HFR Wealth Management, LLC | $9.8 Mil | 2.4% | 49 | Hold | 13F |
| Walter Public Investments Inc. | $6.0 Mil | 1.4% | 48 | TRIM -50.8% | 13F |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Environmental & Facilities Services Resources |
| Waste360 |
| Waste Dive |
| FacilitiesNet |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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