ABM Industries vs Veralto
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The short version
- ABM Industries is the larger business, with $8.7B of revenue in fiscal 2025 against $5.5B for Veralto, about 1.6 times as much.
- Veralto grew revenue faster (6.0%, against 4.6%).
- Veralto kept more of each dollar of sales as operating profit (23.2% operating margin, against 3.6%).
- Veralto turned more of its sales into free cash flow (18.4% FCF margin, against 1.8%).
- Veralto earned a higher return on the capital invested in it (28.1%, against 7.3%).
- Investors pay more for each dollar of Veralto’s earnings: a P/E of 26.9x against 19.4x for ABM Industries.
| Latest fiscal year | ABM · FY25 | VLTO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.2B | $26.0B |
| Revenue | $8.7B | $5.5B |
| Free cash flow | $155M | $1.0B |
| Net income | $162M | $940M |
| Growth | ||
| Revenue growth | 4.6% | 6.0% |
| 5-year growth | 7.9% | — |
| Share count change | −1.4% | 0.3% |
| Profitability | ||
| Gross margin | 12.3% | 60.0% |
| Operating margin | 3.6% | 23.2% |
| Net margin | 1.9% | 17.1% |
| FCF margin | 1.8% | 18.4% |
| Return on capital | 7.3% | 28.1% |
| Return on equity | 9.1% | 36.6% |
| Balance sheet | ||
| Net debt | $1.4B | $642M |
| Net debt / EBITDA | 3.5x | 0.5x |
| Dividends and buybacks | $188M | $109M |
| Valuation & quality | ||
| P/E | 19.4x | 26.9x |
| Piotroski F-score | 7 | 6 |
Revenue
FY16
ABM —
VLTO —
FY17
ABM $5.5B
VLTO —
FY18
ABM $6.4B
VLTO —
FY19
ABM $6.5B
VLTO —
FY20
ABM $6.0B
VLTO —
FY21
ABM $6.2B
VLTO $4.7B
FY22
ABM $7.8B
VLTO $4.9B
FY23
ABM $8.1B
VLTO $5.0B
FY24
ABM $8.4B
VLTO $5.2B
FY25
ABM $8.7B
VLTO $5.5B
ABM
VLTO
Operating margin
FY16
ABM —
VLTO —
FY17
ABM 1.9%
VLTO —
FY18
ABM 2.2%
VLTO —
FY19
ABM 3.2%
VLTO —
FY20
ABM 1.6%
VLTO —
FY21
ABM 3.3%
VLTO 22.2%
FY22
ABM 4.5%
VLTO 22.8%
FY23
ABM 5.1%
VLTO 22.7%
FY24
ABM 2.5%
VLTO 23.3%
FY25
ABM 3.6%
VLTO 23.2%
ABM
VLTO
Free cash flow
FY16
ABM $39.5M
VLTO —
FY17
ABM −$51.6M
VLTO —
FY18
ABM $270M
VLTO —
FY19
ABM $203M
VLTO —
FY20
ABM $420M
VLTO —
FY21
ABM $280M
VLTO $842M
FY22
ABM −$30.4M
VLTO $836M
FY23
ABM $191M
VLTO $909M
FY24
ABM $167M
VLTO $820M
FY25
ABM $155M
VLTO $1.0B
ABM
VLTO
Return on capital
FY16
ABM —
VLTO —
FY17
ABM 5.0%
VLTO —
FY18
ABM 5.7%
VLTO —
FY19
ABM 7.2%
VLTO —
FY20
ABM 2.3%
VLTO —
FY21
ABM 6.8%
VLTO —
FY22
ABM 9.7%
VLTO —
FY23
ABM —
VLTO 26.9%
FY24
ABM —
VLTO 27.3%
FY25
ABM 7.3%
VLTO 28.1%
ABM
VLTO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.