Veralto Corporation is a global company providing essential technology solutions that monitor, enhance, and protect key resources. The company's core business model focuses on delivering innovative products and services in water analytics, water treatment, marking and coding, and packaging and color. Veralto aims to address challenges related to environmental resource sustainability, water scarcity, food and pharmaceutical security, and the impact of an aging workforce. The company operates in regulated industries, including municipal utilities, food and beverage, pharmaceutical, and industrials. Veralto's market position is supported by its scientific expertise, innovative technologies, and a culture of continuous improvement. The company has a global presence, with a significant portion of its revenue generated outside of the United States.

Veralto's competitive advantages include strong globally recognized brands, a large installed base driving recurring sales, a strong margin profile, and the Veralto Enterprise System (VES) for operational excellence. The company's business model supports a strong margin profile with limited capital expenditure requirements and has generated attractive cash flows.

• Employees: 16,000 (as of December 31, 2023)
• Geographic Footprint: Over 40 countries
• Headquarters: Waltham, Massachusetts
• Founded: 2023 (Separated from Danaher)
• Number of locations/facilities: 64 principal facilities
• Revenue: $5.021 billion (FY2023)
• Market Capitalization: $21.2 billion (as of February 16, 2024)
• Key Subsidiaries/Brands: Hach, Trojan Technologies, ChemTreat, Videojet, Linx, Esko, X-Rite, Pantone

• CEO: Jennifer L. Honeycutt
• CFO: Sameer Ralhan
• Other Key Executives: Melissa Aquino (Senior Vice President, Water Quality), Mattias Byström (Senior Vice President, Product Quality & Innovation), Surekha Trivedi (Senior Vice President, Strategy & Sustainability), Lesley Beneteau (Senior Vice President, Human Resources), Sylvia Stein (Senior Vice President and General Counsel)

Jennifer L. Honeycutt previously served as Executive Vice President for Danaher's Environmental & Applied Solutions segment. Sameer Ralhan previously served as Senior Vice President and Chief Financial Officer for The Chemours Company. Melissa Aquino previously served as Senior Vice President and Group Executive of Danaher's Water Quality companies. Mattias Byström previously served as President of Danaher's Packing & Color Management companies. Surekha Trivedi previously served as Vice President of Strategy for Danaher's Environmental & Applied Solutions segment. Lesley Beneteau previously served as Vice President, Talent Management of Danaher. Sylvia Stein previously served as Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer of Modine Manufacturing Company.

• Annual Revenue: $5.021 billion (FY2023)
• Net Income: $839 million (FY2023)
• Market Cap: $21.2 billion (as of February 16, 2024)
• Total Assets: $5.693 billion (as of December 31, 2023)
• Number of Employees: 16,000 (as of December 31, 2023)
• Key Financial Highlights: Core sales increased 2.6% in 2023 compared to 2022. Approximately 59% of sales derived from consumables, spare parts, services, and software.

Veralto provides a broad range of products and services across two main segments:

• Water Quality: Offers water analytics and differentiated water treatment solutions through brands like Hach, Trojan Technologies, and ChemTreat. These solutions enable the reliable delivery of safe drinking water and improve the efficiency of industrial processes.
• Product Quality & Innovation: Provides marking and coding, packaging, and color instrumentation and related consumables through brands like Videojet, Linx, Esko, X-Rite, and Pantone. These solutions help customers ensure product quality, safety, and authenticity.

Veralto operates through two segments:

• Water Quality: This segment provides products and services that improve the quality and reliability of water. Revenue for this segment was $3.039 billion in FY2023.
• Product Quality & Innovation: This segment offers solutions that enable customers to promote consumer trust and product innovation. Revenue for this segment was $1.982 billion in FY2023.

Veralto's business strategy focuses on:

• Growth: Driving growth through acquisitions, new technologies, additional products, organizational strength, and geographic breadth.
• Innovation: Developing new and enhanced products and services based on technological innovation.
• Sustainability: Advancing sustainability objectives for customers through its products and services, and reducing its own environmental impact.
• Operational Excellence: Leveraging the Veralto Enterprise System (VES) to improve profitability and cash flows.

The company is also focused on expanding its presence in high-growth markets and investing in digital solutions.

Veralto operates in highly competitive markets, serving a broad range of customers in municipal, industrial, food and beverage, and consumer packaged goods sectors. Key market trends affecting the business include:

• Market Position: Veralto has a leadership position in many of the markets it serves.
• Key Competitors: The company faces a wide variety of competitors, including well-established regional players, specialized competitors, and large companies with substantial resources.
• Industry Trends: Rapid technological changes, frequent new product introductions, changing industry standards, increased emphasis on digital capabilities and environmentally-friendly products, and cost containment efforts by governments and the private sector.

• Market Risks: Conditions in the global economy, military conflicts, and financial markets can adversely affect the business. Intense competition may lead to decreased demand and market share.
• Operational Risks: Significant disruptions in IT systems or data breaches can adversely affect the business. Defects or inadequate disclosure related to products can also have a negative impact.
• Financial Risks: Increased debt levels from the separation from Danaher may limit operations. Foreign currency exchange rates can also adversely affect financial statements.
• Regulatory Risks: Extensive regulations and failure to comply with them can adversely affect the business. Data privacy and security laws can also create compliance challenges.