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Transcat vs Veralto: revenue, profit, margins and growth compared

Transcat brought in $331.9M of revenue in fiscal 2026, Veralto $5.5B in fiscal 2025. Revenue changed by +19.2% at Transcat and +6.0% at Veralto on the year before, so Transcat grew faster. Transcat kept 1.6% of its revenue as net profit, Veralto 17.1%. Free cash flow was $19.6M at Transcat and $1B at Veralto.

Side by side, latest fiscal year

TRNSVLTO
Fiscal year endedFY2026 (March 28, 2026)FY2025 (December 31, 2025)
Revenue$331.9M$5.5B
Revenue growth+19.2%+6.0%
Net income$5.4M$940M
Net margin1.6%17.1%
Free cash flow$19.6M$1B
Free cash flow margin5.9%18.4%
Earnings per share (diluted)$0.57$3.76
Cash$4.9M$2B
Debt$99.9M$2.7B
Price to earnings153.925.8
Market value$821.1M$23.7B
Dividend yieldn/an/a
Rank by revenue in sector#345 of 451 · Industrials#113 of 451 · Industrials

Over the years

Revenue
TRNS FY2018: $160.9MTRNS FY2019: $173.1MTRNS FY2021: $173.3MTRNS FY2022: $205MTRNS FY2023: $230.6MTRNS FY2024: $259.5MTRNS FY2025: $278.4MTRNS FY2026: $331.9MVLTO FY2021: $4.7BVLTO FY2023: $4.9BVLTO FY2023: $5BVLTO FY2024: $5.2BVLTO FY2025: $5.5BFY18FY19FY21FY22FY23FY24FY25FY26
TRNS $331.9MVLTO $5.5B
Net income
TRNS FY2018: $7.1MTRNS FY2019: $8.1MTRNS FY2021: $7.8MTRNS FY2022: $11.4MTRNS FY2023: $10.7MTRNS FY2024: $13.6MTRNS FY2025: $14.5MTRNS FY2026: $5.4MVLTO FY2021: $861MVLTO FY2023: $845MVLTO FY2023: $839MVLTO FY2024: $833MVLTO FY2025: $940MFY18FY19FY21FY22FY23FY24FY25FY26
TRNS $5.4MVLTO $940M
Net margin
TRNS FY2018: 4.4%TRNS FY2019: 4.7%TRNS FY2021: 4.5%TRNS FY2022: 5.6%TRNS FY2023: 4.6%TRNS FY2024: 5.3%TRNS FY2025: 5.2%TRNS FY2026: 1.6%VLTO FY2021: 18.3%VLTO FY2023: 17.4%VLTO FY2023: 16.7%VLTO FY2024: 16.0%VLTO FY2025: 17.1%FY18FY19FY21FY22FY23FY24FY25FY26
TRNS 1.6%VLTO 17.1%
Revenue growth
TRNS FY2019: +7.6%TRNS FY2021: +0.1%TRNS FY2022: +18.2%TRNS FY2023: +12.5%TRNS FY2024: +12.5%TRNS FY2025: +7.3%TRNS FY2026: +19.2%VLTO FY2023: +3.6%VLTO FY2023: +3.1%VLTO FY2024: +3.4%VLTO FY2025: +6.0%FY19FY21FY22FY23FY24FY25FY26
TRNS +19.2%VLTO +6.0%
Free cash flow
TRNS FY2018: $5.6MTRNS FY2019: $5MTRNS FY2021: $17MTRNS FY2022: $7.5MTRNS FY2023: $7.5MTRNS FY2024: $19.3MTRNS FY2025: $25.8MTRNS FY2026: $19.6MVLTO FY2021: $842MVLTO FY2023: $836MVLTO FY2023: $909MVLTO FY2024: $820MVLTO FY2025: $1BFY18FY19FY21FY22FY23FY24FY25FY26
TRNS $19.6MVLTO $1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Transcat and Veralto

Which is bigger by revenue, Transcat or Veralto?

Veralto is bigger by revenue: $5.5B in fiscal 2025, against $331.9M for Transcat in fiscal 2026.

Which keeps more of its revenue as profit, Transcat or Veralto?

Transcat had a net margin of 1.6% in fiscal 2026; Veralto had 17.1% in fiscal 2025.

Which grew revenue faster, Transcat or Veralto?

In their latest fiscal years revenue changed by +19.2% at Transcat and +6.0% at Veralto.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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