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Veralto vs Itron: VLTO and ITRI compared
Veralto is the larger company: $1.5B of revenue in its latest quarter (Q3 2026) against $599M for Itron (Q3 2026). Veralto is growing faster (+8% against +3% a year earlier). Veralto is more profitable, with an operating margin of 19.7% against 15.9%.
Where the money goes: VLTO and ITRI
Veralto (VLTO) · Q3 2026
Veralto, Q3 2026: revenue $1.5B (+8% year over year), operating margin 19.7%, net earnings $253M, operating cash flow $323M. The chart follows the revenue to costs, profit and cash.
Itron (ITRI) · Q3 2026
Itron, Q3 2026: revenue $599M (+3% year over year), operating margin 15.9%, net earnings $71.4M, operating cash flow $102M. The chart follows the revenue to costs, profit and cash.
| Veralto (VLTO) | Itron (ITRI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.5B | $599M |
| Revenue growth, Y/Y | +8% | +3% |
| Gross margin | 60.2% | 40.9% |
| Operating margin | 19.7% | 15.9% |
| Net earnings | $253M | $71.4M |
| Net margin | 16.8% | 11.9% |
| Operating cash flow | $323M | $102M |
| Free cash flow | $304M | $95.5M |
| Market value | $28.6B | $4.4B |
| P/E | 28.8× | 15.9× |
| Analysts’ mean target | $124.62 | $128.56 |
Where the revenue comes from
Veralto
- Recurring: $944M (63%)
- Nonrecurring: $565M (37%)
Itron
- Product revenues: $489M (82%)
- Service revenues: $110M (18%)
Questions
Which is bigger, Veralto or Itron?
Veralto is the larger company: $1.5B of revenue in its latest quarter (Q3 2026) against $599M for Itron (Q3 2026).
Is Veralto or Itron growing faster?
Veralto is growing faster (+8% against +3% a year earlier).
Which is more profitable, Veralto or Itron?
Veralto is more profitable, with an operating margin of 19.7% against 15.9%.
More: Veralto earnings · how Veralto makes money · Itron earnings · how Itron makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.