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Scientific & technical instruments · Technology · Fiscal year ends Dec 31
Vontier reported revenue of $3.1B in the fiscal year ended Dec 2025, up 3.2% from the year before. Operating income was $562M, an operating margin of 18.3%, and net income was $406M. Operating cash flow of $511M less capital expenditure of $70M left free cash flow of $441M. Net debt was $1.6B.
Ranks among the 19 scientific & technical instruments companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2,991 | 3,184 | 3,095 | 2,979 | 3,076 |
| Cost of revenue | 1,658 | 1,756 | – | – | – |
| Gross profit | 1,333 | 1,428 | – | – | – |
| Research & development | 129 | 145 | 164 | 178 | 176 |
| Selling, general & admin | 579 | 628 | 643 | 630 | 639 |
| Operating income | 582 | 578 | 543 | 537 | 562 |
| Interest expense | 37.1 | 67.5 | 94.7 | – | – |
| Pre-tax income | 534 | 527 | 484 | 498 | 508 |
| Income tax | 121 | 126 | 107 | 75.4 | 102 |
| Net income | 413 | 401 | 377 | 422 | 406 |
| Diluted EPS | 2.43 | 2.49 | 2.42 | 2.75 | 2.76 |
| Diluted shares | 170 | 161 | 156 | 154 | 147 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 573 | 205 | 341 | 356 | 492 |
| Receivables | 481 | 515 | 498 | 526 | 527 |
| Inventory | 287 | 346 | 297 | 338 | 327 |
| Current assets | 1,478 | 1,385 | 1,333 | 1,370 | 1,492 |
| Net PP&E | 101 | 92.1 | 102 | 120 | 130 |
| Goodwill | 1,667 | 1,739 | 1,742 | 1,726 | 1,758 |
| Total assets | 4,350 | 4,343 | 4,294 | 4,311 | 4,369 |
| Payables | 425 | 431 | 367 | 378 | 362 |
| Deferred revenue | 134 | 135 | 132 | 139 | 102 |
| Current liabilities | 933 | 930 | 955 | 909 | 1,289 |
| Short-term debt | 3.7 | 0.0 | 100 | 50.0 | 500 |
| Long-term debt | 2,584 | 2,586 | 2,189 | 2,092 | 1,594 |
| Total liabilities | 3,776 | 3,764 | 3,398 | 3,251 | 3,118 |
| Shareholders' equity | 570 | 577 | 890 | 1,051 | 1,244 |
| Backlog (remaining obligations) | 384 | 370 | 536 | 467 | 432 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 481 | 321 | 455 | 428 | 511 |
| Capital expenditure | 47.8 | 60.0 | 60.1 | 82.7 | 69.9 |
| Free cash flow | 433 | 261 | 395 | 345 | 441 |
| Depreciation & amortisation | 45.9 | 40.9 | 43.8 | 47.4 | 51.1 |
| Stock-based compensation | 25.5 | 24.3 | 31.5 | 31.6 | 30.1 |
| Acquisitions | 956 | 278 | 0.0 | 0.0 | 10.9 |
| Share buybacks | 0.0 | 328 | 74.7 | 225 | 300 |
| Dividends paid | 12.7 | 15.9 | 15.5 | 15.2 | 14.7 |
| Dividend per share | 0.03 | 0.03 | 0.10 | 0.10 | 0.10 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.5% | −2.8% | −3.8% | 3.2% |
| Operating income growth (YoY) | – | −0.7% | −6.0% | −1.2% | 4.6% |
| EPS growth (YoY) | – | 2.5% | −2.8% | 13.6% | 0.4% |
| Gross margin | 44.6% | 44.9% | – | – | – |
| Operating margin | 19.5% | 18.1% | 17.6% | 18.0% | 18.3% |
| Net margin | 13.8% | 12.6% | 12.2% | 14.2% | 13.2% |
| Return on equityBlank when equity is negative | 72.5% | 69.6% | 42.3% | 40.2% | 32.6% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.0% | 16.9% | 16.3% | 15.8% | 18.2% |
| Free cash flow margin | 14.5% | 8.2% | 12.8% | 11.6% | 14.3% |
| Cash conversion (CFO ÷ net income) | 1.16x | 0.80x | 1.21x | 1.01x | 1.26x |
| Receivable days | 59 | 59 | 59 | 64 | 63 |
| Inventory days | 63 | 72 | – | – | – |
| Payable days | 94 | 90 | – | – | – |
| Interest cover | 15.7x | 8.56x | 5.74x | – | – |
| Debt ÷ equity | 4.54x | 4.49x | 2.57x | 2.04x | 1.68x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,015 | 2,381 | 1,948 | 1,786 | 1,602 |
| Current ratio | 1.58x | 1.49x | 1.39x | 1.51x | 1.16x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.