Veralto reported strong Q4 and full-year 2025 results, with solid core growth and margin expansion. Management provided a constructive 2026 outlook, balancing steady demand and pricing power against a prudent near-term macro environment. Key strategic actions include the acquisition of In-Situ and continued M&A pipeline activity. Q4 2025 core sales grew 1.6%, impacted by three fewer shipping days, but underlying demand remains steady.
Buzzberg 분석Q1 2026 core sales implies 4-5% two-year stackVeralto reported strong Q4 and full-year 2025 results, with solid core growth and margin expansion. Management provided a constructive 2026 outlook, balancing steady demand and pricing power against a prudent near-term macro environment. Key strategic actions include the acquisition of In-Situ and continued M&A pipeline activity. Q4 2025 core sales grew 1.6%, impacted by three fewer shipping days, but underlying demand remains steady.전체 분석 보기분석 접기
Veralto reported strong Q4 and full-year 2025 results, with solid core growth and margin expansion. Management provided a constructive 2026 outlook, balancing steady demand and pricing power against a prudent near-term macro environment. Key strategic actions include the acquisition of In-Situ and continued M&A pipeline activity. Q4 2025 core sales grew 1.6%, impacted by three fewer shipping days, but underlying demand remains steady.
Full-year 2025 core sales grew 4.7% with 20bps margin expansion and double-digit EPS growth.
Completed acquisition of In-Situ, adding ~$80M in sales with a path to low-double-digit growth.
Revenue$1.396B
reported
EPS$1.04
reported
Gross margin59.31%
reported
Op margin22.64%
reported
이번 분기에 달라진 점
01
Guidance
Q1 2026 core sales implies 4-5% two-year stack
Guidance · revenue to 5%
02
Pricing
Pricing expected near high end of historical range in 2026
Q4 2025 core sales grew 1.6%, impacted by three fewer shipping days, but underlying demand remains steady.
03
M&A
In-Situ acquisition expands water analytics, growth expected to accelerate
Full-year 2025 core sales grew 4.7% with 20bps margin expansion and double-digit EPS growth.
04
Demand
Data centers remain small but growing; liquid cooling increases need
Management expressed confidence in the durability of demand drivers, steady growth, and robust M&A pipeline, while maintaining a prudent approach to guidance given macro uncertainties.
AI, 자본지출 및 수요 분석
AI
플랫폼 및 수익화
Management discussed AI-enabled solutions in PQI, specifically a new AI-enabled solution to streamline and error-proof packaging print during the design phase, and the integration of TraceGains AI into ESCO through a product called Comply AI, which automates AI verification of copied print in packaged goods to reduce errors and recalls.
수요
수주 및 전환
Data centers remain small but growing; liquid cooling increases need. Management expressed confidence in the durability of demand drivers, steady growth, and robust M&A pipeline, while maintaining a prudent approach to guidance given macro uncertainties.
톤 · Confident
Management expressed confidence in the durability of demand drivers, steady growth, and robust M&A pipeline, while maintaining a prudent approach to guidance given macro uncertainties.
공급망 알파
A1
Veralto has diversified production lines for its Videojet business out of China to the UK and Europe, reducing dependency and tariff risk.
“our video jet business had a fairly large China manufacturing footprint. We've diversified that footprint into the UK, into Europe.”
Veralto sees data centers as a growing but still small contributor, with liquid cooling increasing the need for its precision water treatment and monitoring solutions.
“liquid cooling tends to increase the need for Veralta solutions because it's really a smaller volume of water focused on high purity fluids.”
Veralto's pricing is expected to be at the high end of its historical 100-200 basis point range in 2026, reflecting both carryover and new price increases.
“you should expect us to be towards the high end of the range this year... that will put us closer to 200 range, basis points range.”