VLTO
Veralto Corporation
$98.77
Stable Earnings Power
50%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 75.1% above fair value
You pay
$98.77
Bear
$45.12
Fair
$56.40
Bull
$67.68
Bear
$45.12
-54.3%
$3.76 × 12x P/E
Fair
$56.40
-42.9%
$3.76 × 15x P/E
Bull
$67.68
-31.5%
$3.76 × 18x P/E
Adjust Assumptions
15.0x
3.76$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
26.3x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (13 analysts)
$110.00
Divergence from AlphaVal
49%
Summary
Applying a 15x P/E to adjusted EPS of $3.76, the base-case value is $56.40 per share.
Warnings
Wall Street's average price target is $110.00 (from 13 analysts). Our estimate is 49% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples