Direct Answer
Veralto reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Water Quality is the largest, with $3.3 billion of revenue (60% of the total), followed by Product and Quality Innovation at $2.2 billion (40%).
How Does Veralto Make Money?
Water Quality supplies 60% of revenue, so Veralto's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Product and Quality Innovation grew fastest (+6.2%) and Water Quality slowest (+5.8%), so the revenue mix tilts toward Product and Quality Innovation while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Water Quality | $3.3 billion | $3.1 billion | 60.3% | 5.8% |
| Product and Quality Innovation | $2.2 billion | $2.1 billion | 39.7% | 6.2% |
Which Veralto Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Water Quality | $844 million | 25.4% |
| Product and Quality Innovation | $549 million | 25.2% |
Segment operating income is the profit measure Veralto reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Veralto more safely than against another company.
What Does Veralto Sell?
Veralto also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Revenuefrom Contractwith Customer Measurement Recurring | $3.4 billion | $3.1 billion | 61.0% | 6.7% |
| Revenuefrom Contractwith Customer Measurement Nonrecurring | $2.1 billion | $2.0 billion | 39.0% | 4.9% |
Where Does Veralto's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| North America | $2.6 billion | $2.5 billion | 48.0% | 5.9% |
| High Growth Markets | $1.5 billion | $1.4 billion | 27.3% | 4.8% |
| Western Europe | $1.2 billion | $1.1 billion | 22.6% | 8.0% |
| Other Developed Markets | $118 million | $115 million | 2.1% | 2.6% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Veralto's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Veralto reported in the segment note and revenue disclosures of its Form 10-K filed February 20, 2026 (accession 0001967680-26-000011), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Veralto's business segments?
In its fiscal 2025 Form 10-K, Veralto reports revenue for Water Quality and Product and Quality Innovation.
Which part of Veralto brings in the most revenue?
Water Quality, with $3.3 billion of revenue in fiscal 2025, or 60% of the total.
Where does Veralto report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 20, 2026, alongside management's discussion of each segment's results.