Short answer
Veralto (VLTO) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $5.5B (+6.0% year over year) and net income of $940M.
- Top risk flagged: Legal indemnification risk with significant deductible exposure beyond insurance coverage for directors/officers under Company’s certificate and by-laws
FY2025 key financial metrics · XBRL
- Revenue
- $5.5B
- +6.0% YoY
- Net income
- $940M
- +12.8% YoY
- Operating margin
- 23.2%
- −0.1 pp YoY
- Gross margin
- 59.9%
- +0.2 pp YoY
- EPS (diluted)
- $3.76
- +12.6% YoY
- ROE
- 30.3%
- −10.6 pp YoY
- Operating cash flow
- $1.1B
- +23.1% YoY
Source: XBRL data from the Veralto (VLTO) FY2025 10-K on SEC EDGAR. USD.
Veralto FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: diversified technology and solutions provider serving multiple global markets with a focus on innovation, customer responsiveness, and operational efficiency
- Emphasis on growth in Water Quality and Product Quality & Innovation segments with new product offerings supporting trust and safety in consumer packaged goods
- Strategic focus on global expansion including increased manufacturing, R&D, and sales capabilities in high-growth markets such as Asia (excluding Japan), Latin America, Middle East, Eastern Europe, and Africa
- Net earnings $940M, up 13% YoY, driven by positive pricing and volume increases despite higher costs
- Notable geographic sales growth: developed markets +6.4%, North America +5.9%, Western Europe +8.0%, high-growth markets +4.8%
Management Discussion & Analysis
- No forward-looking management outlook or guidance mentioned
Risk Factors
- Legal indemnification risk with significant deductible exposure beyond insurance coverage for directors/officers under Company’s certificate and by-laws
- Goodwill impairment sensitivity, with reporting unit fair values exceeding carrying values by 104% to 987%, but a 10% fair value reduction narrows to 66%-781%
- High reliance on forecasts for acquired intangible assets involving EBITDA, revenue growth, and obsolescence assumptions affecting amortization and impairment charges
- No recorded intangible asset impairment charges in 2025 and 2024, but risk remains if future results deviate from current estimates
- Operational risk from integrating newly acquired reporting units that present the highest impairment risk before full business integration
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