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Veralto cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$304M in Q3 2026 · $1.1B over twelve months

Operating cash flow$323M
Capital spending−$19.0M
Free cash flow+$304M
Cash / net income1.3×
Cash conversion cycle41 days

Analysis

In Q3 2026, Veralto generated $323M of operating cash flow and spent $19.0M on capital projects, leaving free cash flow of $304M.

Over the twelve months to Oct 2, 2026, operating cash flow was $1.2B; the largest uses were other financing ($974M), acquisitions ($683M), dividends ($123M); besides operations, cash came from net borrowing (+) / repaid (−) ($719M), shares issued ($14.0M); the cash balance rose by $10.0M.

Operating cash flow was $323M against net income of $253M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$28.0M, prepaid and other assets +$23.0M, stock-based pay +$21.0M.

Its cash conversion cycle was 41 days (receivables 56 + inventory 51 − payables 66).

Free cash flow

Veralto: free cash flow by quarterVeralto: free cash flow by quarter$263MQ4 2024$142MQ1 2025$323MQ2 2025$258MQ3 2025$291MQ4 2025$170MQ1 2026$328MQ2 2026$304MQ3 2026
Operating cash flow less capital spending.
Veralto: operating cash flow against capital spendingVeralto: operating cash flow against capital spendingOperating cash flowCapital spending$285M$22.0MQ4 2024$157M$15.0MQ1 2025$339M$16.0MQ2 2025$270M$12.0MQ3 2025$311M$20.0MQ4 2025$182M$12.0MQ1 2026$340M$12.0MQ2 2026$323M$19.0MQ3 2026
Latest (Q3 2026): Operating cash flow $323M, Capital spending $19.0M.

Capital allocation, year by year

Veralto: where the cash came from (up) and went (down), by fiscal yearVeralto: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $896MFY2021: Capital spending −$54.0MFY2021: Acquisitions −$60.0M$896MFY2021FY2022: Operating cash flow $870MFY2022: Capital spending −$34.0MFY2022: Acquisitions −$55.0M$870MFY2022FY2023: Operating cash flow $963MFY2023: Net borrowing $2.6BFY2023: Shares issued $3.0MFY2023: Asset sales $2.0MFY2023: Capital spending −$54.0M$3.6BFY2023FY2024: Operating cash flow $875MFY2024: Shares issued $34.0MFY2024: Capital spending −$55.0MFY2024: Acquisitions −$363MFY2024: Dividends −$89.0M$909MFY2024FY2025: Operating cash flow $1.1BFY2025: Shares issued $35.0MFY2025: Capital spending −$63.0MFY2025: Dividends −$109M$1.1BFY2025
Over these 5 years operating cash flow totalled $4.7B; the largest uses were acquisitions ($478M) and capital spending ($260M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.8B
Debt$2.9B
Net debt$1.1B
Due within a year$700M

Veralto funds itself: free cash flow was $1.1B over the last twelve months, and $1.8B of cash and investments stands against $2.9B of debt ($700M due within a year, 2.5× covered by cash).

Veralto: debt maturities by year (FY2025)Veralto: debt maturities by year (FY2025)$700MYear 1$700MYear 3$1.3BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.8B of cash and investments now.

Where the cash came from and went

Veralto: sources (+) and uses (−) of cash, Q3 2026Veralto: sources (+) and uses (−) of cash, Q3 2026Other financing−$451MCash drawn (+) / kept (−)$334MOperating cash flow$323MBuybacks−$89.0MAcquisitions−$63.0MDividends−$32.0MCapital spending−$19.0MExchange rates−$8.0MShares issued$7.0MOther investing−$2.0M
Veralto: sources (+) and uses (−) of cash, TTM to Q3 2026Veralto: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.2BOther financing−$974MNet borrowing (+) / repaid (−)$719MAcquisitions−$683MDividends−$123MCapital spending−$63.0MExchange rates−$18.0MOther investing−$18.0MShares issued$14.0MCash drawn (+) / kept (−)−$10.0M

From profit to cash

Veralto: net income to operating cash flow, Q3 2026Veralto: net income to operating cash flow, Q3 2026Net income$253MDepreciation & amortization$28.0MStock-based pay$21.0MReceivables−$10.0MInventory−$4.0MPayables$20.0MAccrued liabilities−$8.0MPrepaid and other assets$23.0MOperating cash flow$323M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202656516641
Q2 202657536842
Q1 202659526943
Q4 202556516443
Q3 202557546645
Q2 202557536842
Q1 202558537240
Q4 202458547240

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$323M−$19.0M−$63.0M−$89.0M−$32.0M$7.0M$334M$304M
Q2 2026$340M−$12.0M−$194M−$134M−$32.0M$5.0M−$688M$328M
Q1 2026$182M−$12.0M−$426M−$300M−$32.0M—$600M$170M
Q4 2025$311M−$20.0M——−$27.0M$2.0M−$256M$291M
Q3 2025$270M−$12.0M——−$28.0M$7.0M−$216M$258M
Q2 2025$339M−$16.0M——−$27.0M$12.0M−$320M$323M
Q1 2025$157M−$15.0M——−$27.0M$1.0M−$138M$142M
Q4 2024$285M−$22.0M——−$22.0M$6.0M$166M$263M

Veralto: income statement and cash flow

Veralto, Q3 2026: revenue $1.5B (+8% year over year), operating margin 19.7%. The chart follows the revenue to costs, profit and cash.

Veralto: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.