# Vontier Corp (VNT) Informational only - not investment advice. CIK: 0001786842 SIC: 3824 Totalizing Fluid Meters & Counting Devices SIC breadcrumb: [Manufacturing](/division/D/) > [SIC Major Group 38](/major-group/38/) > [SIC 3824 Totalizing Fluid Meters & Counting Devices](/industry/3824/) Latest 10-K filed: 2026-02-12 SEC page: https://www.sec.gov/edgar/browse/?CIK=1786842 Filing source: https://www.sec.gov/Archives/edgar/data/1786842/000162828026007648/vnt-20251231.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-02-12 · accession 0001628280-26-007648 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001786842.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 3,075,600,000 USD | 2025 | verified | | Net income | 406,100,000 USD | 2025 | verified | | Assets | 4,368,800,000 USD | 2025 | verified | | Free cash flow | 441,100,000 USD | 2025 | computed | | Net margin | 13.20% | 2025 | computed | | Operating margin | 18.26% | 2025 | computed | | Revenue YoY | +3.24% | 2025 | computed | | ROE | 32.64% | 2025 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. No market price, no rating, no forecast on this site. Not investment advice. ### Peer percentile fingerprint | Ratio | VNT | Peer median | Percentile | N | | --- | ---: | ---: | ---: | ---: | | Net margin | 13.2% | 3.1% | 76 | 148 | | Operating margin | 18.3% | 6.4% | 80 | 145 | | Revenue growth | 3.2% | 8.3% | 30 | 153 | | FCF margin | 14.3% | 7.4% | 70 | 152 | | ROE | 32.6% | 2.4% | 97 | 145 | | ROA | 9.3% | 1.1% | 82 | 154 | | Liabilities / equity | 2.51 | 0.82 | 90 | 150 | | Current ratio | 1.16 | 2.81 | 9 | 153 | Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC major-group 38 SIC Major Group 38, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 3075600000 | USD | 2025 | 2026-02-12 | | Net income | 406100000 | USD | 2025 | 2026-02-12 | | Assets | 4368800000 | USD | 2025 | 2026-02-12 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-12. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001786842.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | 2,665,900,000 | 2,772,100,000 | 2,704,600,000 | 2,990,700,000 | 3,184,400,000 | 3,095,200,000 | 2,979,000,000 | 3,075,600,000 | | Net income | 385,500,000 | 436,500,000 | 342,000,000 | 413,000,000 | 401,300,000 | 376,900,000 | 422,200,000 | 406,100,000 | | Operating income | 499,600,000 | 563,100,000 | 468,200,000 | 582,200,000 | 577,900,000 | 543,400,000 | 537,000,000 | 561,600,000 | | Diluted EPS | 2.29 | 2.59 | 2.02 | 2.43 | 2.49 | 2.42 | 2.75 | 2.76 | | Operating cash flow | 421,000,000 | 545,200,000 | 691,300,000 | 481,100,000 | 321,200,000 | 455,000,000 | 427,500,000 | 511,000,000 | | Capital expenditures | 42,400,000 | 38,000,000 | 35,700,000 | 47,800,000 | 60,000,000 | 60,100,000 | 82,700,000 | 69,900,000 | | Dividends paid | | 0.00 | 0.00 | 12,700,000 | 15,900,000 | 15,500,000 | 15,200,000 | 14,700,000 | | Share buybacks | | | 0.00 | 0.00 | 328,000,000 | 74,700,000 | 224,700,000 | 300,200,000 | | Assets | | 2,828,900,000 | 3,073,000,000 | 4,349,800,000 | 4,343,300,000 | 4,294,000,000 | 4,310,500,000 | 4,368,800,000 | | Liabilities | | | | 3,776,100,000 | 3,763,800,000 | 3,398,400,000 | 3,250,600,000 | 3,117,600,000 | | Stockholders' equity | | 1,811,200,000 | 187,800,000 | 569,900,000 | 576,500,000 | 890,400,000 | 1,051,100,000 | 1,244,200,000 | | Cash and cash equivalents | | 0.00 | 380,500,000 | 572,600,000 | 204,500,000 | 340,900,000 | 356,400,000 | 492,200,000 | | Free cash flow | 378,600,000 | 507,200,000 | 655,600,000 | 433,300,000 | 261,200,000 | 394,900,000 | 344,800,000 | 441,100,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | 14.46% | 15.75% | 12.65% | 13.81% | 12.60% | 12.18% | 14.17% | 13.20% | | Operating margin | 18.74% | 20.31% | 17.31% | 19.47% | 18.15% | 17.56% | 18.03% | 18.26% | | Return on equity | | 24.10% | 182.11% | 72.47% | 69.61% | 42.33% | 40.17% | 32.64% | | Return on assets | | 15.43% | 11.13% | 9.49% | 9.24% | 8.78% | 9.79% | 9.30% | | Liabilities / equity | | | | 6.63 | 6.53 | 3.82 | 3.09 | 2.51 | | Current ratio | | 1.24 | 1.41 | 1.58 | 1.49 | 1.39 | 1.51 | 1.16 | ## As-reported value updates No tracked differences above grepcent's stated thresholds and capped precision rule were found between the earliest XBRL-filed value and the value currently on file for the standardized annual metrics grepcent tracks. ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001786842.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q3 | 2022-09-30 | | | 0.32 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | 0.53 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | | | 0.62 | reported discrete quarter | | 2023-Q3 | 2023-06-30 | | 97,300,000 | | reported discrete quarter | | 2023-Q3 | 2023-09-29 | 765,400,000 | | 0.58 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 789,000,000 | 106,200,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-29 | 755,800,000 | 136,800,000 | 0.88 | reported discrete quarter | | 2024-Q2 | 2024-03-29 | | 136,800,000 | | reported discrete quarter | | 2024-Q2 | 2024-06-28 | 696,400,000 | | 0.45 | reported discrete quarter | | 2024-Q3 | 2024-06-28 | | 70,100,000 | | reported discrete quarter | | 2024-Q3 | 2024-09-27 | 750,000,000 | | 0.60 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 776,800,000 | 123,500,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-28 | 741,100,000 | 87,900,000 | 0.59 | reported discrete quarter | | 2025-Q2 | 2025-03-28 | | 87,900,000 | | reported discrete quarter | | 2025-Q2 | 2025-06-27 | 773,500,000 | | 0.62 | reported discrete quarter | | 2025-Q3 | 2025-06-27 | | 91,900,000 | | reported discrete quarter | | 2025-Q3 | 2025-09-26 | 752,500,000 | | 0.70 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 808,500,000 | 123,500,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-04-03 | 750,600,000 | 94,300,000 | 0.66 | reported discrete quarter | | 2026-Q2 | 2026-04-03 | | 94,300,000 | | reported discrete quarter | | 2026-Q2 | 2026-07-03 | 756,700,000 | | 0.20 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from VNT's latest 10-K: [/company/VNT/business/](/company/VNT/business/). ## Risk Factors Verbatim Item 1A Risk Factors from VNT's latest 10-K: [/company/VNT/risk-factors/](/company/VNT/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1786842/000162828026054180/vnt-20260703.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Confidence: high Filing date: 2026-08-06 Report date: 2026-07-03 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is designed to provide a reader of our financial statements with a narrative from the perspective of management and is intended to help the reader understand the results of operations and financial condition of the Company. Our MD&A should be read in conjunction with our MD&A and Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report on Form 10-K”) and our Consolidated Condensed Financial Statements as of and for the three and six months ended July 3, 2026 included in this Form 10-Q. INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS Certain statements included or incorporated by reference in this quarterly report, in other documents we file with or furnish to the Securities and Exchange Commission (“SEC”), in our press releases, webcasts, conference calls, materials delivered to shareholders and other communications, are “forward-looking statements” within the meaning of the United States federal securities laws. Forward-looking statements are not guarantees of future performance and actual results may differ materially from the results, developments and business decisions contemplated by our forward-looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Important factors that could cause actual results to differ materially from those envisaged in the forward-looking statements include the following: •If we cannot adjust our manufacturing capacity, supply chain management or the purchases required for our manufacturing activities to reflect changes in market conditions, customer demand and supply chain or transportation disruptions, our profitability may suffer. In addition, our reliance upon sole or limited sources of supply for certain materials, components and services has in the past and could in the future cause production interruptions, delays and inefficiencies. •Our growth depends in part on the timely development and commercialization, and customer acceptance, of new and enhanced products and services based on technological innovation. •Changes in our software and subscription businesses may adversely impact our business, financial condition and results of operations. •The indemnification provisions of acquisition agreements by which we have acquired companies may not fully protect us and as a result we may face unexpected liabilities. •Our restructuring actions could have long-term adverse effects on our business. •As of July 3, 2026, we have outstanding indebtedness of approximately $1.9 billion and the ability to incur an additional $750.0 million of indebtedness under the Revolving Credit Facility and in the future we may incur additional indebtedness. This indebtedness could adversely affect our businesses and our ability to meet our obligations and pay dividends. •We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful. •Any inability to consummate acquisitions at our historical rates and at appropriate prices, and to make appropriate investments that support our long-term strategy, could negatively impact our growth rate and stock price. •Our acquisition of businesses, investments, joint ventures and other strategic relationships could negatively impact our financial statements. •Divestitures or other dispositions could negatively impact our business, and contingent liabilities from businesses that we or our predecessors have sold could adversely affect our financial statements. •Conditions in the global economy, the particular markets we serve and the financial markets may adversely affect our business and financial statements. •Changes in U.S. trade policy, including changes to existing trade agreements and any resulting changes in international trade relations, may have a material adverse effect on us. •Adverse changes in our relationships with, or the financial condition, performance, purchasing patterns or inventory levels of, key distributors and other channel partners could adversely affect our financial statements. •Our financial results are subject to fluctuations in the cost and availability of commodities that we use in our operations. •Defects, tampering, unanticipated use or inadequate disclosure with respect to our products or services (including software), or allegations thereof, could adversely affect our business, reputation and financial statements. •Our growth could suffer if the markets into which we sell our products and services decline, do not grow as anticipated or experience cyclicality. •Our reputation, ability to do business and financial statements may be impaired by improper conduct by any of our employees, agents or business partners. •If we do not or cannot adequately protect our intellectual property, or if third parties infringe our intellectual property rights, we may suffer competitive injury or expend significant resources enforcing our rights. 24 •Third parties have in the past, and may in the future, claim that we are infringing or misappropriating their intellectual property rights and we could suffer significant litigation expenses, losses or licensing expenses or be prevented from selling products or services. •If we suffer a loss to our facilities, supply chains, distribution systems or information technology systems due to catastrophe or other events, our operations could be seriously harmed. •Our ability to attract, develop and retain talented executives and other key employees is critical to our success. •Work stoppages, union and works council campaigns and other labor disputes could adversely impact our productivity and financial statements. •Global economic, political, legal, compliance, supply chain, epidemic, pandemic and business factors could negatively affect our financial statements. •Foreign currency exchange rates may adversely affect our financial statements. •Changes in, or status of implementation of, industry standards and governmental regulations, including the interpretation or enforcement thereof, may reduce demand for our products or services, increase our expenses or otherwise adversely impact our business model. •Our businesses are subject to extensive regulation; failure to comply with those regulations could adversely affect our financial statements and our business, including our reputation. •We are party to asbestos-related product litigation that could adversely affect our financial condition, results of operations and cash flows. •A significant disruption in, or breach in security of, our information technology systems or data or violation of data privacy laws could adversely affect our business, reputation and financial statements. •We are subject to governmental regulation and other legal obligations, particularly related to privacy, data protection and information security and our actual or perceived failure to comply with such obligations could harm our business. Compliance with such laws could also impair our efforts to maintain and expand our customer base and business lines, and thereby decrease our revenue. •Our operations, products and services expose us to the risk of environmental, health and safety liabilities, costs and violations that could adversely affect our business, reputation and financial statements. •We are subject to a variety of litigation and other legal and regulatory proceedings in the course of our business that could adversely affect our business and financial statements. •If we are unable to implement and maintain effective internal control over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock may be negatively affected. •We may be required to recognize impairment charges for our goodwill and other intangible assets. •Changes in our effective tax rates or exposure to additional income tax liabilities or assessments could affect our profitability. In addition, audits by tax authorities could result in additional payments for prior periods. See “Item 1A. Risk Factors” in our 2025 Annual Report on Form 10-K and “Part II - Item 1A. Risk Factors” in this Form 10-Q for further discussion regarding reasons that actual results may differ materially from the results, developments and business decisions contemplated by our forward-looking statements. Forward-looking statements speak only as of the date of the report, document, press release, webcast, call, materials or other communication in which they are made. Except to the extent required by applicable law, we do not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise. OVERVIEW General Vontier is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier powers the way the world moves, delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. We operate through three reportable segments which align to our three operating segments: (i) Environmental & Fueling Solutions, which provides environmental and fueling hardware and software, and aftermarket solutions for global fueling infrastructure; (ii) Mobility Technologies, which provides digitally enabled equipment and solutions to support efficient operations across the mobility ecosystem, including point-of-sale and payment systems, workflow automation solutions, data analytics, software platform for electric vehicle charging networks and integrated solutions for alternative fuel dispensing; and (iii) Repair Solutions, which manufactures and distributes aftermarket vehicle repair tools, toolboxes, automotive diagnostic equipment and software through a network of mobile franchisees. 25 Outlook We expect core sales to increase on a year-over-year basis in 2026. Our outlook is subject to various assumptions and risks, including but not limited to the impact of changes in United States and international trade policies, other changes in governmental policies or regulations, the resilience and durability of the economies of the United States and other critical regions, the condition of global supply chains, including the availability of electronic components, the impact of international conflicts, including Russia-Ukraine and conflicts in the Middle East and market conditions in key end product segments. Additional uncertainties are identified in “Information Relating to Forward-Looking Statements” above and in “Risk Factors” in our 2025 Annual Report on Form 10-K. We continue to monitor the macroeconomic and geopolitical conditions which may impact our business, including monetary and fiscal policies, changes in the banking system and investment and taxation policy initiatives being considered in the United States and by the Organization for Economic Co-operation and Development. We also continue to monitor the Russia-Ukraine conflict and conflicts in the Middle East and the impact on our business and operations. As of the filing date of this report, we do not believe they are material. Since the second quarter of 2025, the United States has adopted a markedly enhanced and continually shifting tariff policy affecting imports i [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1786842/000162828026007648/vnt-20251231.htm Complete FY 2025 MD&A: /company/VNT/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Published MD&A gate trimmed front/tail over-capture. Confidence: high Filing date: 2026-02-12 Report date: 2025-12-31 ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is designed to provide a reader of our financial statements with a narrative from the perspective of management and is intended to help the reader understand our results of operations and financial condition. Our MD&A should be read in conjunction with our Consolidated Financial Statements and the accompanying Notes to the Consolidated Financial Statements included elsewhere in this Annual Report. Discussion and analysis of our financial condition and results of operations as of and for the year ended December 31, 2024 compared to December 31, 2023 is included under the heading “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K filed for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission on February 13, 2025. OVERVIEW General Vontier is a global industrial technology company uniting productivity, automation and multi-energy technologies to meet the needs of a rapidly evolving, more connected mobility ecosystem. Leveraging leading market positions, decades of domain expertise and unparalleled portfolio breadth, Vontier powers the way the world moves, delivering smart, safe and sustainable solutions to our customers and the planet. Vontier has a culture of continuous improvement and innovation built upon the foundation of the Vontier Business System and embraced by colleagues worldwide. Refer to “Item 1. Business – General” included in this Annual Report for a discussion of our strategies for delivering long-term shareholder value. We operate through three reportable segments which align to our three operating segments: (i) Mobility Technologies, which provides digitally enabled equipment and solutions to support efficient operations across the mobility ecosystem, including point-of-sale and payment systems, workflow automation solutions, telematics, data analytics, software platform for electric vehicle charging networks, and integrated solutions for alternative fuel dispensing; (ii) Repair Solutions, which manufactures and distributes aftermarket vehicle repair tools, toolboxes, automotive diagnostic equipment and software through a network of mobile franchisees; and (iii) Environmental & Fueling Solutions, which provides environmental and fueling hardware and software, and aftermarket solutions for global fueling infrastructure. Our Coats business, which was divested during January 2024, is presented in Other for periods prior to the divestiture. Outlook We expect core sales to increase on a year-over-year basis in 2026. Our outlook is subject to various assumptions and risks, including but not limited to the impact of changes in United States and international trade policies, other changes in governmental policies or regulations, the resilience and durability of the economies of the United States and other critical regions, the condition of global supply chains, including the availability of electronic components, the impact of international conflicts, including Russia-Ukraine and conflicts in the Middle East and market conditions in key end product segments. Additional uncertainties are identified in “Information Relating to Forward-Looking Statements” and “Risk Factors” in this Form 10-K. We continue to monitor the macroeconomic and geopolitical conditions which may impact our business, including monetary and fiscal policies, changes in the banking system and investment and taxation policy initiatives being considered in the United States and by the Organization for Economic Co-operation and Development. We also continue to monitor the Russia-Ukraine conflict, conflicts in the Middle East and political and economic conditions in Latin America and the impact on our business and operations. As of the filing date of this report, we do not believe they are material. During April 2025, the United States announced a new baseline tariff of 10%, plus an additional country-specific tariff, on all imports into the United States. In response, certain countries announced reciprocal tariffs on imports from the United States. While the United States has reached trade agreements with certain countries, tariffs on imports from other countries and other reciprocal tariffs either remain in effect or have been temporarily paused, and as such, significant uncertainty around future tariff policies remains. We import inventory into the United States from a number of countries, and as such, if tariffs remain in effect for a prolonged period of time, we expect our cost to import inventory into the United States to increase. We have actively managed our tariff exposure and continue to diversify our supply chain to reduce our exposure to tariffs on imports into the United States, particularly from high-tariff countries. In addition, certain of our products manufactured in the United States are exported internationally and are subject to reciprocal tariffs. If we are unable to effectively mitigate the financial impact of tariffs, or if tariffs lead to other impacts, including but not limited to a decrease in demand for our products, it would have a material impact on our business, financial condition and results of operations. 27 Table of Contents RESULTS OF OPERATIONS Comparison of Results of Operations [[GREPCENT_TABLE]] [["","Year Ended December 31,"],["($ in millions)","2025","","% of Sales","","2024","","% of Sales"],["Sales","$","3,075.6","","","","","$","2,979.0"],["Operating costs and expenses:"],["Cost of sales(a)","(1,624.8)","","","52.8","%","","(1,554.9)","","","52.2","%"],["Selling, general and administrative expenses (\u201cSG&A\u201d)","(639.4)","","","20.8","%","","(629.7)","","","21.1","%"],["Research and development expenses (\u201cR&D\u201d)","(175.7)","","","5.7","%","","(177.7)","","","6.0","%"],["Amortization of acquisition-related intangible assets","(74.1)","","","2.4","%","","(79.7)","","","2.7","%"],["Operating profit","$","561.6","","","18.3","%","","$","537.0","","","18.0","%"]] [[/GREPCENT_TABLE]] (a) Excluding amortization of acquisition-related intangible assets. Sales The components of our consolidated sales growth were as follows for the periods indicated: [[GREPCENT_TABLE]] [["","2025 vs 2024"],["Total sales growth (GAAP)","3.2","%"],["Core sales (Non-GAAP)","3.7","%"],["Acquisitions and divestitures (Non-GAAP)","(0.5)","%"],["Currency exchange rates (Non-GAAP)","\u2014","%"]] [[/GREPCENT_TABLE]] Sales for each of our segments were as follows for the periods indicated: [[GREPCENT_TABLE]] [["","Year Ended December 31,"],["($ in millions)","2025","","2024"],["Mobility Technologies(a)","$","1,123.9","","","$","1,014.5"],["Repair Solutions","589.9","","","633.4"],["Environmental & Fueling Solutions","1,436.7","","","1,359.8"],["Other","\u2014","","","1.3"],["Intersegment eliminations","(74.9)","","","(30.0)"],["Total","$","3,075.6","","","$","2,979.0"]] [[/GREPCENT_TABLE]] (a) Includes $74.9 million and $30.0 million of intersegment sales for the years ended December 31, 2025 and 2024, respectively, that are eliminated in consolidation. Mobility Technologies The components of sales growth for our Mobility Technologies segment were as follows for the periods indicated: [[GREPCENT_TABLE]] [["","2025 vs 2024"],["Total sales growth (GAAP)","10.8","%"],["Core sales (Non-GAAP)","10.7","%"],["Acquisitions and divestitures (Non-GAAP)","\u2014","%"],["Currency exchange rates (Non-GAAP)","0.1","%"]] [[/GREPCENT_TABLE]] Total sales within our Mobility Technologies segment increased 10.8% during the year ended December 31, 2025, as compared to the prior year, driven by a 10.7% increase in core sales. The increase in core sales was due to solid demand for our convenience retail payment and enterprise productivity solutions, partially offset by lower demand for our car wash solutions. 28 Table of Contents Repair Solutions The components of sales growth for our Repair Solutions segment were as follows for the periods indicated: [[GREPCENT_TABLE]] [["","2025 vs 2024"],["Total sales growth (GAAP)","(6.9)","%"],["Core sales (Non-GAAP)","(6.8)","%"],["Acquisitions and divestitures (Non-GAAP)","\u2014","%"],["Currency exchange rates (Non-GAAP)","(0.1)","%"]] [[/GREPCENT_TABLE]] Total sales within our Repair Solutions segment decreased 6.9% during the year ended December 31, 2025, as compared to the prior year, driven by a 6.8% decrease in core sales. The decrease in core sales was due to a decrease in volume in the tool storage, hardline and power tools product categories driven by macroeconomic impacts on service technicians’ discretionary spending. Environmental & Fueling Solutions The components of sales growth for our Environmental & Fueling Solutions segment were as follows for the periods indicated: [[GREPCENT_TABLE]] [["","2025 vs 2024"],["Total sales growth (GAAP)","5.7","%"],["Core sales (Non-GAAP)","6.4","%"],["Acquisitions and divestitures (Non-GAAP)","(1.0)","%"],["Currency exchange rates (Non-GAAP)","0.3","%"]] [[/GREPCENT_TABLE]] Total sales within our Environmental & Fueling Solutions segment increased 5.7% during the year ended December 31, 2025, as compared to the prior year, driven by a 6.4% increase in core sales, partially offset by a 1.0% decrease due to the impact of recently exited businesses and product lines and a 0.3% increase due to the impact of currency translation. The increase in core sales was due to growth in environmental solutions and dispenser systems. Cost of Sales Cost of sales, excluding amortization of acquisition-related intangible assets, increased $69.9 million, or 4.5%, during the year ended December 31, 2025, as compared to the prior year and as a percentage of sales, increased 60 basis points during the same period, mainly due to core sales growth as discussed above. Operating Costs and Other Expenses SG&A expenses increased $9.7 million, or 1.5%, during the year ended December 31, 2025, as compared to the prior year and as a percentage of sales, decreased 30 basis points during the same period, due to $7.0 million of asset impairments recognized during the year ended December 31, 2025 and a $4.8 million increase in transaction and deal-related costs. R&D expenses decreased $2.0 million, or 1.1%, during the year ended December 31, 2025, as compared to the prior year and as a percentage of sales, decreased 30 basis points during the same period, due to savings from focus and prioritization process initiatives and adoption of AI technologies. Amortization of acquisition-related intangible assets decreased $5.6 million, or 7.0%, during the year ended December 31, 2025, due to certain intangible assets becoming fully amortized between periods. Amortization of acquisition-related intangible assets as a percentage of sales decreased 30 basis points during the same period. 29 Table of Contents Operating Profit Operating profit increased $24.6 million, or 4.6%, during the year ended December 31, 2025, as compared to the prior year, and operating profit margin increased 30 basis points during the same period. Segment operating profit is used as a performance metric by the chief operating decision maker (“CODM”) in determining how to allocate resources and assess performance. Segment operating profit represents total segment sales less operating costs attributable to the segment, which does not include unallocated corporate costs and other operating costs not allocated to the reportable segments as part of the CODM’s assessment of reportable segment operating performance, including amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other related charges and other unallocated income or expense not indicative of the segment’s core operating perform [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/VNT/mda/fy2025/ All MD&A years: /company/VNT/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/VNT/mda/fy2024/): filed 2025-02-13; accession 0001786842-25-000008 (https://www.sec.gov/Archives/edgar/data/1786842/000178684225000008/vnt-20241231.htm) - [FY 2023 MD&A](/company/VNT/mda/fy2023/): filed 2024-02-15; accession 0001786842-24-000015 (https://www.sec.gov/Archives/edgar/data/1786842/000178684224000015/vnt-20231231.htm) - [FY 2022 MD&A](/company/VNT/mda/fy2022/): filed 2023-02-17; accession 0001786842-23-000011 (https://www.sec.gov/Archives/edgar/data/1786842/000178684223000011/vnt-20221231.htm) - [FY 2021 MD&A](/company/VNT/mda/fy2021/): filed 2022-02-24; accession 0001786842-22-000015 (https://www.sec.gov/Archives/edgar/data/1786842/000178684222000015/vnt-20211231.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 3824 Totalizing Fluid Meters & Counting Devices) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index - [TCU](/indicator/TCU/): Capacity Utilization: Total Index - [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities - [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private - [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/VNT.md · JSON record: /company/VNT.json · verified financials: /company/VNT/financials.json / /company/VNT/financials.csv · machine TOC for the whole site: /llms.txt