What is Veralto's 2026 outlook?

For the first quarter of 2026, the company expects non-GAAP core sales growth of flat to low-single digits, adjusted operating profit margin of approximately 24.5%, and adjusted diluted EPS of $0.97 to $1.01. For full-year 2026, it anticipates low-to-mid-single-digit core sales growth, adjusted operating margin expansion of approximately 25 basis points, adjusted diluted EPS of $4.10 to $4.20, and free cash flow conversion of approximately 100% of GAAP net earnings.

How did the balance sheet change during 2025?

Cash and cash equivalents increased to $2,031 million from $1,101 million, and total stockholders' equity rose to $3,106 million from $2,045 million. Long-term debt decreased to $1,973 million from $2,599 million, while current portion of long-term debt was $700 million at December 31, 2025.

What acquisition did Veralto complete recently?

In late January 2026, Veralto completed the acquisition of In-Situ, which expands its water analytics portfolio into the high-growth environmental water and hydrology markets. The 2025 cash flow statement shows no cash paid for acquisitions, while 2024 included $363 million paid for acquisitions, net of cash acquired.

VLTO 8-K: Earnings & Results

Q: How did Veralto perform in the fourth quarter of 2025?

Sales increased 3.8% year-over-year to $1,396 million, with non-GAAP core sales growth of 1.6%. GAAP net earnings were $254 million, or $1.01 per diluted share, and non-GAAP adjusted net earnings were $261 million, or $1.04 per diluted share. Operating profit margin was 22.6%, and adjusted operating profit margin was 24.6%.

01—Abstract

Summary

Summary of the 8-K filed February 3, 2026. Cited figures are marked; the original filing is the authoritative source.

Veralto Corporation (NYSE: VLTO) reported fourth quarter 2025 sales of $1,396 million^a, up 3.8% year-over-year, with non-GAAP core sales growth of 1.6%.

GAAP net earnings were $254 million^b, or $1.01 per diluted share, and non-GAAP adjusted net earnings were $261 million, or $1.04 per diluted share. For the full year 2025, sales rose 6.0% to $5,503 million with non-GAAP core sales growth of 4.7%, GAAP net earnings of $940 million ($3.76 per diluted share), and adjusted net earnings of $977 million ($3.90 per diluted share). Operating cash flow was $1,077 million and non-GAAP free cash flow was $1,014 million for the year.

Management highlighted the completed acquisition of In-Situ in late January 2026, which expands its water analytics portfolio into environmental water and hydrology markets. During the fourth quarter, the company established a $750 million^c share repurchase program and announced an 18% increase in its dividend. Cash and cash equivalents rose to $2,031 million at year-end 2025 from $1,101 million a year earlier, while long-term debt declined to $1,973 million from $2,599 million, with current portion of long-term debt at $700 million.

For 2026, the company guided to first-quarter non-GAAP core sales growth of flat to low-single digits, an adjusted operating profit margin of approximately 24.5%, and adjusted diluted EPS of $0.97 to $1.01^d. For the full year, it expects low-to-mid-single-digit core sales growth, adjusted operating margin expansion of approximately 25 basis points, adjusted diluted EPS of $4.10 to $4.20, and free cash flow conversion of approximately 100% of GAAP net earnings.

02—Key points

Key Highlights

Q4 2025 sales of $1,396 million, up 3.8% year-over-year, with non-GAAP core sales growth of 1.6%
Full-year 2025 sales of $5,503 million, up 6.0%, with non-GAAP core sales growth of 4.7%
Full-year 2025 GAAP diluted EPS of $3.76; non-GAAP adjusted diluted EPS of $3.90
Full-year 2025 operating cash flow of $1,077 million and non-GAAP free cash flow of $1,014 million
Completed acquisition of In-Situ in late January 2026, expanding water analytics into environmental water and hydrology markets
Established a $750 million share repurchase program and announced an 18% dividend increase in Q4 2025
2026 guidance: adjusted diluted EPS of $4.10 to $4.20 and low-to-mid-single-digit core sales growth for the full year

03—Questions

Frequently Asked Questions

How did Veralto perform in the fourth quarter of 2025?
Sales increased 3.8% year-over-year to $1,396 million, with non-GAAP core sales growth of 1.6%. GAAP net earnings were $254 million, or $1.01 per diluted share, and non-GAAP adjusted net earnings were $261 million, or $1.04 per diluted share. Operating profit margin was 22.6%, and adjusted operating profit margin was 24.6%.
What capital allocation actions did Veralto announce?
During the fourth quarter, Veralto established a $750 million share repurchase program and announced an 18% increase in its dividend. Dividend payments totaled $109 million in 2025 compared with $89 million in 2024.
What is Veralto's 2026 outlook?
For the first quarter of 2026, the company expects non-GAAP core sales growth of flat to low-single digits, adjusted operating profit margin of approximately 24.5%, and adjusted diluted EPS of $0.97 to $1.01. For full-year 2026, it anticipates low-to-mid-single-digit core sales growth, adjusted operating margin expansion of approximately 25 basis points, adjusted diluted EPS of $4.10 to $4.20, and free cash flow conversion of approximately 100% of GAAP net earnings.
How did the balance sheet change during 2025?
Cash and cash equivalents increased to $2,031 million from $1,101 million, and total stockholders' equity rose to $3,106 million from $2,045 million. Long-term debt decreased to $1,973 million from $2,599 million, while current portion of long-term debt was $700 million at December 31, 2025.
What acquisition did Veralto complete recently?
In late January 2026, Veralto completed the acquisition of In-Situ, which expands its water analytics portfolio into the high-growth environmental water and hydrology markets. The 2025 cash flow statement shows no cash paid for acquisitions, while 2024 included $363 million paid for acquisitions, net of cash acquired.

04—Continue

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