Explain this page
Arphra AIPlain-English read on Veralto Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +57.72% | +56.86% | +57.78% | +59.79% | +59.95% | +59.92% | +59.03% | +60.63% | +58.01% |
| Operating margin | +22.15% | +22.83% | +22.70% | +23.26% | +23.21% | +23.03% | +22.37% | +22.52% | +23.51% |
| EBITDA margin | +24.36% | +24.70% | +24.16% | +24.59% | +24.48% | +24.95% | +24.87% | +24.03% | +24.01% |
| EBIT margin | +22.11% | +22.85% | +22.43% | +23.09% | +23.06% | +23.36% | +22.49% | +22.98% | +23.44% |
| Pre-tax margin | +22.28% | +22.85% | +21.83% | +20.91% | +21.32% | +20.92% | +21.35% | +20.85% | +21.21% |
| Net margin | +18.32% | +17.35% | +16.71% | +16.04% | +17.08% | +16.36% | +16.59% | +16.11% | +16.97% |
| Cost structure | |||||||||
| Cost of revenue / sales | +42.28% | +43.33% | +42.22% | +40.21% | +40.05% | +41.49% | +40.84% | +40.74% | +40.35% |
| R&D intensity | +5.19% | +4.46% | +4.48% | +4.87% | +4.83% | +4.63% | +4.59% | +4.79% | +4.79% |
| SG&A intensity | +30.38% | +30.27% | +30.59% | +31.66% | +31.91% | +31.81% | +31.91% | +30.48% | +30.71% |
| Effective tax rate | +17.77% | +24.08% | +23.45% | +23.30% | +19.86% | +22.42% | +22.00% | +22.19% | +22.99% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +26.90% | +26.08% | +60.40% | +40.73% | +30.26% | +40.96% | +40.81% | +38.91% | +41.56% |
| Return on assets (ROA) | +17.79% | +17.51% | +14.74% | +13.00% | +12.22% | +12.98% | +12.93% | +12.61% | +13.53% |
| Return on capital (ROC) | +31.21% | +33.07% | +27.36% | +25.10% | +22.10% | +24.66% | +23.85% | +24.34% | +25.13% |
| Return on invested capital (ROIC) | +25.81% | +25.13% | +20.14% | +17.31% | +16.27% | +17.52% | +17.69% | +17.41% | +18.14% |
| Asset turnover | +97.11% | +100.93% | +88.20% | +81.06% | +71.53% | +79.34% | +77.93% | +78.27% | +79.72% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +18.32% | +17.35% | +16.71% | +16.04% | +17.08% | +16.36% | +16.59% | +16.11% | +16.97% |
| Asset turnover (× revenue / assets) | +97.11% | +100.93% | +88.20% | +81.06% | +71.53% | +79.34% | +77.93% | +78.27% | +79.72% |
| Equity multiplier (× assets / equity) | +151.20% | +148.92% | +409.86% | +313.25% | +247.68% | +315.66% | +315.61% | +308.48% | +307.20% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.97 | 1.01 | 0.88 | 0.81 | 0.72 | 0.79 | 0.78 | 0.78 | 0.80 |
| Fixed-asset turnover | 18.08 | 19.72 | 19.16 | 19.38 | 18.72 | — | — | — | — |
| Inventory turnover | 6.17 | 6.12 | 7.14 | 7.25 | 7.18 | — | — | — | — |
| Receivables turnover | 6.21 | 5.97 | 6.08 | 6.40 | 6.13 | — | — | — | — |
| Payables turnover | 4.28 | 4.80 | 4.92 | 5.29 | 5.30 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 58.79 | 61.16 | 60.05 | 57.07 | 59.50 | — | — | — | — |
| Days inventory outstanding (DIO) | 59.15 | 59.68 | 51.13 | 50.34 | 50.84 | — | — | — | — |
| Days payables outstanding (DPO) | 85.23 | 76.11 | 74.21 | 69.05 | 68.89 | — | — | — | — |
| Cash conversion cycle | 32.70 | 44.72 | 36.98 | 38.37 | 41.44 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.04 | 1.03 | 1.15 | 1.05 | 1.15 | 1.14 | 1.12 | 1.12 | 1.08 |
| FCF / Net income | 0.98 | 0.99 | 1.08 | 0.98 | 1.08 | 1.09 | 1.07 | 1.08 | 1.03 |
| FCF margin | +17.91% | +17.17% | +18.10% | +15.79% | +18.43% | +17.83% | +17.70% | +17.35% | +17.50% |
| OCF margin | +19.06% | +17.86% | +19.18% | +16.85% | +19.57% | +18.66% | +18.59% | +18.06% | +18.32% |
| CapEx / Revenue | +1.15% | +0.70% | +1.08% | +1.06% | +1.14% | +1.06% | +1.06% | +1.12% | +1.07% |
| CapEx / D&A | 0.51 | 0.38 | 0.62 | 0.71 | 0.81 | — | — | — | — |
| Stock-based comp / Revenue | +0.72% | +0.84% | +1.10% | +1.25% | +1.34% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 3.50 | 3.43 | 3.41 | 3.34 | 3.76 | 4.25 | 4.67 | 5.14 | 5.36 |
| EPS · basic | 3.50 | 3.43 | 3.41 | 3.37 | 3.79 | 4.29 | 4.69 | 5.17 | 5.47 |
| Book value / share | 13.01 | 13.17 | 5.64 | 8.19 | 12.41 | 9.29 | 10.04 | 10.86 | 10.72 |
| Tangible BV / share | 0.67 | 1.16 | -6.38 | -4.74 | -1.02 | 9.29 | 10.04 | 10.86 | 10.72 |
| Sales / share | 19.10 | 19.79 | 20.38 | 20.81 | 21.99 | 23.28 | 24.70 | 26.23 | 26.24 |
| Operating CF / share | 3.64 | 3.54 | 3.91 | 3.51 | 4.30 | 4.34 | 4.59 | 4.74 | 4.81 |
| Free cash flow / share | 3.42 | 3.40 | 3.69 | 3.29 | 4.05 | 4.15 | 4.37 | 4.55 | 4.59 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.36 | 0.44 | 0.29 | 0.30 | 0.32 | 0.32 |
| Payout ratio | 0.00% | 0.00% | 0.00% | +10.68% | +11.60% | +7.60% | +7.36% | +7.53% | +7.21% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +89.32% | +88.40% | +92.40% | +92.64% | +92.47% | +92.79% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +3.62% | +3.10% | +3.43% | +5.97% | +6.66% | +5.12% | +5.87% | +1.49% | +4.39% |
| Gross profit · YoY | — | +2.06% | +4.77% | +7.03% | +6.25% | +6.60% | +3.57% | +8.73% | -2.88% | +4.46% |
| Profit | ||||||||||
| Operating income · YoY | — | +6.82% | +2.52% | +5.96% | +5.71% | +5.84% | +2.13% | +6.57% | +5.95% | +5.18% |
| EBITDA · YoY | — | +5.07% | +0.83% | +5.28% | +5.48% | +8.73% | +4.79% | +2.27% | +1.40% | +4.20% |
| Net income · YoY | — | -1.86% | -0.71% | -0.72% | +12.85% | +2.13% | +6.65% | +2.82% | +6.88% | +3.40% |
| Operating | ||||||||||
| EBIT · YoY | — | +7.12% | +1.17% | +6.48% | +5.84% | +8.07% | +1.19% | +8.16% | +3.55% | +5.16% |
| R&D · YoY | — | -11.07% | +3.69% | +12.44% | +5.14% | +2.22% | +4.14% | +10.39% | +1.62% | +3.35% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -2.00% | -0.58% | -2.05% | +12.57% | +12.93% | +9.89% | +10.07% | +4.36% | +5.47% |
| EPS · basic · YoY | — | -2.00% | -0.58% | -1.17% | +12.46% | +13.24% | +9.18% | +10.42% | +5.70% | +5.74% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $135M | $123M | $2.78B | $2.77B | $2.67B | $3.14B | $3.28B | $3.34B | $3.5B |
| Net debt | $135M | $123M | $2.02B | $1.67B | $642M | $1.71B | $1.77B | $1.71B | $1.9B |
| Net debt / EBITDA | 0.12 | 0.10 | 1.66 | 1.30 | 0.48 | 1.17 | 1.16 | 1.09 | 1.19 |
| Debt / equity | 0.04 | 0.04 | 2.00 | 1.35 | 0.86 | 1.34 | 1.31 | 1.23 | 1.29 |
| Debt / assets | +2.79% | +2.55% | +48.78% | +43.19% | +34.75% | +42.40% | +41.43% | +40.02% | +42.03% |
| Equity / assets | +66.14% | +67.15% | +24.40% | +31.92% | +40.37% | +31.68% | +31.68% | +32.42% | +32.55% |
| Coverage | |||||||||
| EBITDA / interest expense | — | — | 40.43 | 11.30 | 14.03 | 16.63 | 16.37 | 16.05 | 15.57 |
| Operating income / interest | — | — | 38.00 | 10.69 | 13.30 | 15.35 | 14.72 | 15.04 | 15.25 |
| Interest expense | $0 | $0 | $30M | $113M | $96M | $88.05M | $93.78M | $97.8M | $102.19M |
| Liquidity | |||||||||
| Current ratio | 1.07 | 1.14 | 1.64 | 1.92 | 1.67 | — | — | — | — |
| Quick ratio | 0.68 | 0.73 | 1.26 | 1.54 | 1.42 | — | — | — | — |
| Cash ratio | 0.00 | 0.00 | 0.60 | 0.88 | 0.99 | — | — | — | — |
| Working capital | $84M | $157M | $808M | $1.14B | $1.38B | — | — | — | — |
| Working capital / revenue | +1.79% | +3.22% | +16.09% | +21.99% | +25.00% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).