企業概要
Veralto Corporation is a global provider of water analytics, water treatment technologies, marking and coding solutions, as well as packaging and color solutions, serving diverse industrial clients worldwide. The company operates within the Industrials sector, specifically classified under the Pollution & Treatment Controls industry, where it delivers essential infrastructure solutions for environmental compliance and operational efficiency. With a market capitalization of $22.42B, an annual revenue of $5.50B, and a workforce comprising 16,500 employees, Veralto maintains a significant physical and financial footprint in the environmental services landscape. These valuation and revenue figures indicate that the company commands a substantial market position, reflecting the critical demand for its specialized water quality and product innovation segments across international markets.
財務健全性
The company reported a trailing twelve-month revenue of $5.50B and a net income of $940.00M, while generating an EBITDA of $1.36B, highlighting a robust operational cash generation capability before interest and tax obligations. The gap between the $5.50B revenue and the $940.00M net income reveals a cost structure where operating expenses, including cost of goods sold and administrative costs, consume approximately $4.56B, leaving a substantial but calculated portion for profit after all expenditures. Free cash flow stands at $815.37M, which signifies strong financial flexibility allowing the firm to fund capital expenditures, repay debt, or return capital to shareholders without relying on external financing. Profitability is supported by a gross margin of 59.9%, an operating margin of 22.7%, and a profit margin of 17.1%, indicating high efficiency in converting sales into gross profit and maintaining effective control over operating costs relative to total revenue. On the balance sheet, the company holds $2.03B in cash against $2.88B in debt, resulting in a debt-to-equity ratio of 92.69%, which suggests a leveraged capital structure typical of capital-intensive industrial operations. Despite the leverage, the current ratio of 1.67 demonstrates adequate short-term liquidity, ensuring the firm can meet its immediate obligations using current assets. Management effectiveness is evidenced by a return on equity of 36.5% and a return on assets of 11.3%, metrics that illustrate the company's ability to generate significant value from its shareholders' equity and total asset base.
バリュエーション評価
The stock trades at a trailing P/E ratio of 24.06 and a forward P/E of 19.81, where the difference between these multiples implies that the market anticipates earnings growth sufficient to narrow the valuation gap in the coming fiscal periods. The price-to-book ratio is recorded at 7.24, indicating that the market values the company at a significant premium over its book value, likely due to intangible assets, brand equity, and future growth prospects inherent in its technology portfolio. Alternative valuation metrics such as a price-to-sales ratio of 4.07 and an EV/EBITDA of 17.15 provide additional context, suggesting the company is priced relative to its sales volume and enterprise cash generation capacity rather than just earnings per share. Over the past year, the stock price has fluctuated between a 52-week low of $83.86 and a 52-week high of $110.11, placing the current trading position within a range that reflects market sentiment volatility over the last twelve months. The beta value of 1.15 indicates that the stock exhibits higher price volatility relative to the broader market, moving approximately 15% more than the market index in response to systemic risks or economic shifts.
Growth & Income
Revenue growth for the trailing twelve months stands at 3.8%, while earnings growth reaches 12.2%, indicating that profitability is expanding at a significantly faster pace than top-line sales, which often points to pricing power or cost synergies within the business. As a dividend payer with a yield of 0.6% and a payout ratio of 12.2%, the company maintains a highly sustainable dividend policy, as the low payout ratio leaves ample earnings available for reinvestment or debt reduction. The conservative payout ratio suggests that management prioritizes balance sheet strength and organic growth initiatives over maximizing immediate cash returns to shareholders. Overall, the growth and income profile presents a company with accelerating earnings growth, a sustainable dividend stream, and a capital structure that balances leverage with strong free cash flow generation.