NYSE: RVTY · Health Care Equipment
Revvity
Revvity, based in Waltham, Massachusetts (formerly PerkinElmer), calls itself a leading provider of health science solutions, from discovery and development to diagnosis. It reports two roughly equal segments: Life Sciences ($1.43 billion of fiscal 2025 revenue, including software and reagents) and Diagnostics ($1.42 billion, including immunodiagnostics and reproductive health). Revenue fell from $3.8 billion in 2021 (with pandemic testing) to $2.75 billion in 2023 and was $2.86 billion in 2025; net income was $241 million. In July 2026 it agreed to sell its China immunodiagnostics business.
Last updated
Analysis last edited: November 3, 2026 · Financial data fetched: November 3, 2026 02:09 (SEC EDGAR) · Source 10-K filed: February 24, 2026
Built on10-K FY2025 · filed 2026-02-2410-Q (quarter ended 2026-07-05) · filed 2026-08-11Proxy statement (2026)
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- -5.5%
- Operating marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 12.5%
- ROIC minus WACCROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- -5.3 pts
- Net debt ÷ EBITDAEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- 3.0x
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 2.42x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 0 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 75.1x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 0.93
Higher than 1% of 372 non-financial companies
Average yearly growth over the years shown
Higher than 32% of 311 non-financial companies
Latest fiscal year (FY2025)
Higher than 11% of 311 non-financial companies
Return on capital above (or below) its estimated cost
Higher than 73% of 304 non-financial companies
Below 0 means more cash than debt
Higher than 83% of 349 non-financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-07-05
Above 1 = moves more than the market
Each marker shows where this company sits among the non-financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$158.80close on 2026-11-04
Market cap$17.83B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 75.1x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 2.5x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- 26.4x
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- 2.9%
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 0.2%
At FY2025 year-end: 46.7x
Earnings: trailing 12 months to 2026-07-05
At FY2025 year-end: 1.5x
Book value at FY2025 year-end
At FY2025 year-end: 17.3x
EBITDA for FY2025
At FY2025 year-end: 4.7%
Free cash flow for FY2025
Dividends per share for FY2025
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Jul 5, 2026.
These figures are behind: a newer quarter was reported on Nov 3, 2026, but SEC's structured data doesn't include it yet. Read the release ↗
- Revenue$720M → $730M (vs. a year earlier)↑ +1.3%$720M → $730M (vs. a year earlier)
- Operating margin12.6% → 12.2% (vs. a year earlier)↓ −0.4 pts12.6% → 12.2% (vs. a year earlier)
- Net income$54M → $52M (vs. a year earlier)↓ −3.9%$54M → $52M (vs. a year earlier)
- Diluted EPS$0.46 → $0.47 (vs. a year earlier)↑ +2.2%$0.46 → $0.47 (vs. a year earlier)
- Cash$860M → $1.02B (vs. previous quarter-end)↑ +18.9%$860M → $1.02B (vs. previous quarter-end)
- Long-term debt$3.21B → $3.21B (vs. previous quarter-end)→ −0.1%$3.21B → $3.21B (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
From the earnings release of Nov 3, 2026.
Key changes
Pro forma revenue up 11%. Source sentence
Pro forma revenue increased 11% and pro forma organic revenue increased 9% as compar ed to the same period a year ago.
Adjusted operating margin 28.7% versus 26.1%. Source sentence
Adjusted operating profit margin was 28.7% as a percentage of revenue, as compared to 26.1% in the same period a year ago.
Written by AI. A line appears only if its figures and direction match the quoted sentence, which an automatic check confirms. Companies' outlooks are their own and may not be met. Read the release ↗
04
Company profileFrom SEC dataShow
- Legal name
- REVVITY, INC.
- Headquarters
- WALTHAM, MA
- Incorporated in
- Massachusetts
- Fiscal year end
- 12/29
- Exchange & ticker
- NYSE: RVTY
- Industry
- Health Care Equipment
- CIK
- 31791
- Website
- https://www.revvity.com/ ↗
Workforce (as of FY2025 year-end)
Employees
11,000
Source: Form 10-K (FY2025) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q4 FY2026
Quarter end: December 2026. In past years, Q4 results were released 32–36 days after quarter end (Feb 2, 2026; Jan 31, 2025; Feb 1, 2024). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around December 29.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 29–36 days after quarter end over the last 13 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q3 FY2026 | — | Nov 3, 2026 | Not yet filed |
| Q2 FY2026 | Jul 5, 2026 | Aug 4, 2026 (+30 days) | Aug 11, 2026 10-Q (+37 days) |
| Q1 FY2026 | Apr 5, 2026 | May 5, 2026 (+30 days) | May 12, 2026 10-Q (+37 days) |
| Q4 FY2025 | Dec 28, 2025 | Feb 2, 2026 (+36 days) | Feb 24, 2026 10-K (+58 days) |
| Q3 FY2025 | Sep 28, 2025 | Oct 27, 2025 (+29 days) | Nov 4, 2025 10-Q (+37 days) |
| Q2 FY2025 | Jun 29, 2025 | Jul 28, 2025 (+29 days) | Aug 5, 2025 10-Q (+37 days) |
| Q1 FY2025 | Mar 30, 2025 | Apr 28, 2025 (+29 days) | May 6, 2025 10-Q (+37 days) |
| Q4 FY2024 | Dec 29, 2024 | Jan 31, 2025 (+33 days) | Feb 25, 2025 10-K (+58 days) |
| Q3 FY2024 | Sep 29, 2024 | Nov 4, 2024 (+36 days) | Nov 6, 2024 10-Q (+38 days) |
| Q2 FY2024 | Jun 30, 2024 | Jul 29, 2024 (+29 days) | Aug 6, 2024 10-Q (+37 days) |
| Q1 FY2024 | Mar 31, 2024 | Apr 29, 2024 (+29 days) | May 7, 2024 10-Q (+37 days) |
| Q4 FY2023 | Dec 31, 2023 | Feb 1, 2024 (+32 days) | Feb 27, 2024 10-K (+58 days) |
| Q3 FY2023 | Oct 1, 2023 | Oct 30, 2023 (+29 days) | Nov 7, 2023 10-Q (+37 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
Life Sciences
Reagents, instruments and software
Life science research tools, reagents (e.g., BioLegend) and Signals software.
Diagnostics
Immunodiagnostics and reproductive health
Immunodiagnostic tests and newborn and reproductive health screening.
From the Form 10-K, FY2025.
U.S., worldwide and country/regional share of flagship products/services
Only shares the company itself states (in its filings or press releases, sometimes citing a research firm) are shown. Scope and timing vary by figure — treat these as approximate.
Health science solutions
Health science solutions
U.S. share
—
Not disclosedWorldwide share
A leading provider
Company-disclosedDescribes itself as “a leading provider of health science solutions” (no share stated).
07
Recent strategic focusSite analysis
Recent developments.
Q2 2026 results
Quarter ended July 5, 2026: revenue $730M (vs $720M); net income $52M.
Source: Form 10-Q (quarter ended 2026-07-05)
China IDX sale
Definitive agreement on July 31, 2026 to sell China immunodiagnostics assets.
Source: Form 8-K (2026-08-04)
Interim CAO
Anita Gonzales was appointed in October 2025.
Source: Form 8-K (2025-10-24)
Capex ÷ D&A (FY2025)
0.18x
Below depreciation — investment is being pared back
formulacapital expenditures ÷ depreciation & amortization
e.g.$74M ÷ $405M = 0.18x
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
R&D-to-revenue ratio (FY2025)
7.6%
formularesearch & development expense ÷ revenue × 100
e.g.$216M ÷ $2,856M × 100 = 7.6%
Where the money goes, over time
Unit: $M. Capex went from $64M in FY2020 to $74M in FY2025
- Capex
- R&D
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
08
Key figures at a glanceFrom SEC data
FY2020–FY2025, 6 years.
Revenue (FY2025)
$2.86B
As reported in the 10-K
Revenue CAGR (5 years)
-5.5%▼caution
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($2,856M ÷ $3,783M) ^ (1÷5) − 1 = -5.5%
termsCAGR · ^ (exponent) · Revenue (net sales)
Operating margin (FY2025)
12.5%▼caution
-10.4pt vs. 5 years ago
formulaoperating income ÷ revenue × 100
e.g.$357M ÷ $2,856M × 100 = 12.5%
ROE (FY2025)
3.2%▼caution
6-year average: 10.1%
As reported in the 10-K
P/B (FY2025 end)
1.50x
formulafiscal year-end closing price ÷ book value per share
e.g.$96.75 ÷ $64.57 = 1.50x
Period-end (fiscal year-end) value, not today's P/B
EV/EBITDA (FY2025 end)
17.3x
formula(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization)
e.g.($10,863M + $3,239M − $920M) ÷ ($357M + $405M) = 17.3x
termsEV/EBITDA · Market capitalization · Interest-bearing debt · EBITDA · Depreciation & amortization (D&A)
Period-end (fiscal year-end) value, not today's multiple
- ▼
Revenue grew -5.5% a year over 5 years (a shrinking trend)
From $3.78B in FY2020 to $2.86B in FY2025. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ▼
Operating margin declined: 22.9% → 12.5%
How much operating profit is left per $100 of revenue. It moved -10.4 points over 5 years — pricing power, cost control, and product mix all show up here.
- ▲
Equity ratio is 59.6% (a high level of financial stability)
The share of total assets funded by equity rather than debt. 50%+ is often read as low bankruptcy risk, though the right level varies by industry (real estate and leasing run lower, for instance).
- ▲
Free cash flow was positive in 6 of 6 years
Operating cash flow minus capital expenditures: the cash left over after funding the business’s own investment, available for dividends, buybacks, acquisitions, or debt paydown. A negative year can mean heavy investment, or weak core earnings — worth distinguishing.
- ▲
ROE averaged 10.1% over 6 years (latest: 3.2%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
- China IDX buyer (not named in the filing)
07 · what it does
Key activities
- Life science reagents, instruments and software
- Immunodiagnostics and reproductive health testing
- Services
06 · what it draws on
Key resources
- About 11,000 employees (Dec. 2025)
- R&D spending of $216M (2025)
- Acquired businesses such as BioLegend (2021)
02 · why customers buy
Value propositions
- Instruments, reagents, software and diagnostic tests for life sciences and diagnostics.
04 · how it keeps them
Customer relationships
- Large recurring revenue from reagents and services.
03 · how it reaches them
Channels
- Direct sales and service teams; distributors where it has no presence.
01 · who it serves
Customer segments
- Pharma and biotech companies
- Academic and government research labs
- Clinical and newborn-screening laboratories
09 · where money goes
Cost structure
FY2025, share of revenue ($2.86B)
- Research & development7.6%
- Selling, general & administrative34.7%
- Other operating costs (incl. cost of goods sold)45.2%
Operating profit left: 12.5% of revenue. Depreciation & amortization (inside the costs above): $405M. Capital spending: $74M.
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
- Revenue $2,856M (FY2025)
- Life Sciences $1,431M; Diagnostics $1,425M
- Americas $1,256M; Europe $825M; Asia $775M
Value propositions, channels and customer relationships: Form 10-K (FY2025)
Sells instruments, reagents, software and diagnostic tests to pharma, research and clinical laboratories, with a large recurring consumables base.
01 what it draws on
Inputs & resources
- About 11,000 employees (Dec. 2025)
- R&D spending of $216M (2025)
- Acquired businesses such as BioLegend (2021)
02 what it does
Activities
- Life science reagents, instruments and software
- Immunodiagnostics and reproductive health testing
- Services
03 who it serves
Customers
- Pharma and biotech companies
- Academic and government research labs
- Clinical and newborn-screening laboratories
04 how money comes in
How it earns
- Revenue $2,856M (FY2025)
- Life Sciences $1,431M; Diagnostics $1,425M
- Americas $1,256M; Europe $825M; Asia $775M
How the business makes money
- Two reportable segments.
- Quarterly dividend $0.07 per share.
- Agreed in July 2026 to sell China immunodiagnostics assets.
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
Revvity’s diagnostics are FDA-regulated, it earns federal tax credits, and tariffs weigh on margins.
Approvals & licenses
FDA regulation
Some products are regulated by the FDA and similar foreign agencies.
Constrains the businessTouches: ActivitiesSource: Form 10-K (FY2025)
Government funding & tax credits
Federal tax credits
Federal tax credits of $24.0M lowered its 2025 tax rate.
Supports the businessTouches: How it earnsSource: Form 10-K (FY2025)
Trade & export rules
Tariffs
Higher tariffs helped cut gross margin by 104 basis points in 2025.
Constrains the businessTouches: Inputs & resourcesSource: Form 10-K (FY2025)
Government as customer
Government contracts
Subject to investigation for compliance with government contract rules.
Constrains the businessTouches: CustomersSource: Form 10-K (FY2025)
Revenue by segment (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue
Life Sciences
1,431.1 (50%)Diagnostics
1,424.9 (50%)
Source: Form 10-K (FY2025) Segment revenue for fiscal 2025.
10
Where it earnsSite analysis
Many U.S.-listed companies earn most of their revenue outside the U.S. — this breaks down revenue by country/region so it's clear where the business actually makes its money.
Largest market (FY2025)
Americas — 44% of revenue
Revenue by country / region (FY2025)
Unit: $M — bar length = revenue, (%) = share of total company revenue
Americas
1,256 (44%)Europe
825 (29%)Asia
775.1 (27%)
Source: Form 10-K (FY2025) Revenue by primary geographic market.
11
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
12
Alliances & capital tiesSite analysisShow
Equity stakes, joint ventures, and strategic partnerships disclosed across the 10-K, 8-Ks, and proxy statement.
Pending or recent acquisition
China IDX buyer (not named in the filing)
Definitive agreement signed July 31, 2026 to sell substantially all assets of its China immunodiagnostics business.
Source: Form 8-K (2026-08-04)
13
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
Pharma, research and clinical laboratories.
Named by the company
Suppliers
Component and reagent suppliers.
Named by the company
No single supplier is named as material.
14
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
Revvity competes with other life science and diagnostics companies; the 10-K names no specific competitors.
Competitors named in the 10-K
No competitor is named in the 10-K.
Peer group the company chose
Peer group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
Executive compensation peer group from the 2026 proxy statement.
- Agilent Technologiessite ↗
- Avantorsite ↗
- Bio-Rad Laboratoriessite ↗
- Brukersite ↗
- Charles River Laboratoriessite ↗
- Danahersite ↗
- Exact Sciencessite ↗
- Hologicsite ↗
- Illuminasite ↗
- IQVIAsite ↗
- Medpacesite ↗
- Mettler-Toledosite ↗
- Myriad Geneticssite ↗
- Naterasite ↗
- Neogensite ↗
- Quest Diagnosticssite ↗
- Teledynesite ↗
- Teleflexsite ↗
- Thermo Fisher Scientificsite ↗
- Waterssite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
15
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Profit over time (operating → net)
Unit: $M
- Operating income
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Margins over time
Unit: %
- Operating margin
- Net margin
formulaoperating income ÷ revenue × 100
formulanet income attributable to the company ÷ revenue × 100
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
| Line item | FY202010-K on EDGAR ↗ | FY202110-K on EDGAR ↗ | FY202210-K on EDGAR ↗ | FY202310-K on EDGAR ↗ | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ |
|---|---|---|---|---|---|---|
| Income statement ($M) | ||||||
| Revenue | 3,783 | 3,828 | 3,312 | 2,751 | 2,755 | 2,856 |
| Operating income | 867 | 1,258 | 743 | 301 | 347 | 357 |
| Pretax income | 800 | 1,204 | 652 | 183 | 316 | 268 |
| Net income (attributable) | 728 | 943 | 569 | 693 | 270 | 241 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 1.2% | -13.5% | -16.9% | 0.2% | 3.7% |
| Operating margincalcoperating income ÷ revenue × 100 | 22.9% | 32.9% | 22.4% | 10.9% | 12.6% | 12.5% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 19.2% | 24.6% | 17.2% | 25.2% | 9.8% | 8.4% |
| Balance sheet ($M) | ||||||
| Total assets | 7,960 | 15,001 | 14,130 | 13,565 | 12,392 | 12,168 |
| Total equity | 3,735 | 7,141 | 7,383 | 7,873 | 7,667 | 7,250 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | 1,991 | 4,984 | 4,394 | 3,900 | 3,172 | 3,239 |
| Equity ratio | 46.9% | 47.6% | 52.3% | 58.0% | 61.9% | 59.6% |
| ROE | 19.5% | 17.3% | 7.8% | 9.1% | 3.5% | 3.2% |
| Cash flow ($M) | ||||||
| Operating CF | 892 | 1,411 | 680 | 91 | 628 | 583 |
| Investing CF | -504 | -4,113 | -133 | 1,314 | 776 | -17 |
| Financing CF | -203 | 2,942 | -662 | -947 | -1,128 | -858 |
| Free cash flowcalccash flow from operations − capital expenditures | 829 | 1,325 | 594 | 10 | 542 | 509 |
| Cash and equivalents | 387 | 603 | 454 | 913 | 1,163 | 920 |
| Per share & other | ||||||
| EPS ($) | 6.49 | 8.08 | 4.50 | 5.55 | 2.20 | 2.07 |
| BVPS ($) | 33.33 | 56.57 | 58.46 | 63.79 | 63.55 | 64.57 |
| Dividend per share ($) | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | 4.3% | 3.5% | 6.2% | 5.0% | 12.7% | 13.5% |
| P/E (x) | 22.1 | 24.9 | 31.2 | 19.7 | 50.9 | 46.7 |
| EV/EBITDA (x)calc(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization) | 16.5 | 19.0 | 18.5 | 22.5 | 20.0 | 17.3 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | 4.31 | 3.55 | 2.40 | 1.71 | 1.76 | 1.50 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| 2026-07-05 | $730M+1.3% | $89M-1.6% | $52M-3.9% | $0.47 |
| 2026-04-05 | $711M+7.0% | $76M+5.1% | $41M-3.6% | $0.36 |
| 2025-12-28 † | $772M+5.9% | $112M-5.9% | $98M+3.9% | — |
| 2025-09-28 | $699M+2.2% | $82M-16.6% | $47M-50.6% | $0.40 |
| 2025-06-29 | $720M | $91M | $54M | $0.46 |
| 2025-03-30 | $665M | $72M | $42M | $0.35 |
| 2024-12-29 † | $729M | $119M | $95M | — |
| 2024-09-29 | $684M | $98M | $94M | $0.77 |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
16
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
ROIC (FY2025)
3.1%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
e.g.$357M × (1 − 8.5%) ÷ $10,664M × 100 = 3.1%
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
WACC (this site’s estimate)
8.35%
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
e.g.Equity weight: $10.86B ÷ ($10.86B + $3.24B) = 77.0%
e.g.Debt weight: $3.24B ÷ ($10.86B + $3.24B) = 23.0%
e.g.WACC: 10.1% × 77.0% + 2.8% × (1 − 8.5%) × 23.0% = 8.35%
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
How firm is this? With the equity risk premium ±1 point and beta ±0.2, WACC runs 6.9%–10.1% and ROIC − WACC runs −7.0 to −3.9 points. The sign holds across this range. This describes the latest year and does not predict future value creation.
WACC 8.35% is this site’s estimate under the assumptions below (not a figure the company has published)
- Risk-free rate
- 4.95% (10-year Treasury, 2026-11-03)
- β
- 0.93 (price-derived adjusted beta)
- Equity risk premium
- 5.5%
- Cost of equity
- 10.07%
- Cost of debt
- 2.85%
- Tax rate
- 8.5% (effective rate, FY2023–FY2025)
- Capital structure (equity : debt)
- 77% : 23%
ROIC over time, vs. WACC
Unit: % — bars = each period's ROIC, horizontal line = latest WACC. Bars above the line are green, below are red
- ROIC (above WACC)
- ROIC (below WACC)
- WACC 8.35%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
Try different WACC assumptions
β and the equity risk premium are estimates with a real range of plausible values — move the sliders to check whether ROIC > WACC still holds. The risk-free rate starts at the 10-year Treasury yield on 2026-11-03 (U.S. Treasury).
Initial β: 0.93 (price-derived adjusted beta. Raw β 0.89, R² 0.13, 129 weeks)
formula0.67 × β + 0.33 (β = the slope of weekly stock returns regressed on weekly market returns)
e.g.0.67 × 0.889 + 0.33 = 0.926
termsβ (beta)
Period 2024-05-10–2026-11-04, using S&P 500 ETF (SPY) as the market proxy. Source: Yahoo Finance price history.
formularisk-free rate + β × equity risk premium
e.g.5.0% + 0.93 × 5.5% = 10.1%
termsCAPM · Risk-free rate · β (beta) · Equity risk premium (market risk premium)
formulafiscal year-end closing price × shares outstanding (= market cap)
formulainterest expense ÷ interest-bearing debt × 100 (clamped to 0–10%; falls back to the risk-free rate if there’s no debt)
17
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Growth the price implies (price on 2026-11-04)
5.8%
Perpetual FCF growth: g = r − FCF ÷ EV = 8.4% − 2.5%
Past FCF growth (FY2020–FY2025)
-9.3%
Compound annual rate, 5 years
Past revenue growth (FY2020–FY2025)
-5.5%
Compound annual rate, 5 years
Inputs (FY2025): free cash flow $509M (operating CF − capex); enterprise value $20.15B = market cap $17.83B (latest close, 2026-11-04) + debt $3.24B − cash and short-term investments $920M; r = WACC of 8.4% using this page’s default assumptions (β 0.93, risk-free 5.0%, market premium 5.5%).
Three WACC scenarios
The same calculation under cautious, base and optimistic cost-of-capital assumptions (risk-free rate fixed at the 10-year Treasury yield). Pick one to load it into the sliders below.
Try your own assumptions
V = FCF ÷ (r − g). It starts at the implied growth rate, where the theoretical value equals today’s enterprise value.
Theoretical enterprise value
$19.59B
FCF $509M ÷ (8.4% − 5.8%)
Theoretical ÷ actual enterprise value
0.97x
Below 1x: these assumptions value the business below the market did
How sensitive the answer is
Theoretical ÷ actual enterprise value for each combination of r and g.
| g \ r | 6.4% | 7.4% | 8.4% | 9.4% | 10.4% |
|---|---|---|---|---|---|
| 0% | 0.40x | 0.34x | 0.30x | 0.27x | 0.24x |
| 2% | 0.57x | 0.47x | 0.40x | 0.34x | 0.30x |
| 4% | 1.05x | 0.74x | 0.57x | 0.47x | 0.40x |
| 6% | 6.32x | 1.81x | 1.05x | 0.74x | 0.57x |
| 8% | — | — | 6.32x | 1.81x | 1.05x |
A simplified model for seeing what the market price assumes, not a forecast or a target price. It treats free cash flow as growing at one constant rate forever; the result swings widely with small changes in r and g, and is undefined when g reaches r. Free cash flow here is operating cash flow minus capex, which is after interest — a full DCF of enterprise value would use cash flow before interest. Market cap uses the latest close (2026-11-04) × shares at fiscal year-end; free cash flow and WACC inputs are from the latest fiscal year.
18
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
- ✓
Operating CF ÷ net income: averages 1.46x
Profit is backed by cash coming in.
- ✓
Accrual ratio (latest): -2.8%
A small share of profit rests on accounting estimates.
- ✓
Core-earnings share (operating income ÷ pretax income): 133%
Most profit comes from core operations.
- ✓
Days sales outstanding: 111 → 88 days
No major slowdown in collecting on sales.
Operating CF vs. net income
Unit: $M — operating CF above net income means profit is backed by cash
- Operating CF
- Net income
formulacash flow from operations ÷ net income attributable to the company
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formula(net income − operating CF) ÷ average total assets × 100
termsNet income (attributable to the company) · Cash flow from operations (operating CF) · Total assets
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Profit bridge (FY2025)
Unit: $M — what moved profit from operating income to net income
- Profit (each stage)
- Pushed profit up
- Pushed profit down
formulaoperating income ÷ income before income taxes × 100
termsOperating income · Income before income taxes (pretax income)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-02-24
Receivables & inventory days
Unit: days — days grow when receivables or inventory build up faster than sales
- Days sales outstanding
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
Worked examples (latest period)
formulacash flow from operations ÷ net income attributable to the company
e.g.$583M ÷ $241M = 2.42x
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formulaoperating income ÷ income before income taxes × 100
e.g.$357M ÷ $268M × 100 = 133%
termsOperating income · Income before income taxes (pretax income)
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
e.g.($632M + $745M) ÷ 2 ÷ $2,856M × 365 = 88 days
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
19
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 100%+
- Directors & officers (shares)
- <1%
- Everyone else (est.)
- ≈0%
- Directors & officers (voting power)
- <1%
- Institutional-ownership rank
- 43 of 416
- Beta (adjusted)
- 0.93
Reported total 102.2%
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 10% of covered companies have more
above 1 = swings more than the market
- 114.0M shares reported by 542 13F filers ÷ 111.6M shares outstanding on 2026-08-06. Option positions are excluded.
- The 13F total exceeds shares outstanding because some shares are reported twice — for example shares lent to short sellers and then bought by another manager, or holdings that overlapping managers both report.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table; includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-03-16 (beneficial ownership table) · Form 10-Q cover page (shares outstanding as of 2026-08-06)
20
Strengths & weaknessesSite analysis
Strengths
1. Balanced portfolio
Life Sciences and Diagnostics each about half of revenue.
Evidence: Form 10-K (FY2025)
2. Software growth
Life Sciences growth in 2025 was driven by its Software business.
Evidence: Form 10-K (FY2025)
3. Global reach
Revenue spread across the Americas, Europe and Asia.
Evidence: Form 10-K (FY2025)
Weaknesses
1. Post-pandemic decline
Revenue fell from $3,828M (2021) to $2,751M (2023).
Evidence: Form 10-K (FY2025)
2. Low profitability
Net income was $241M in 2025 on $2,856M of revenue.
Evidence: Form 10-K (FY2025)
3. Tariff pressure
Gross margin fell 104 bps in 2025, partly from tariffs.
Evidence: Form 10-K (FY2025)
21
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2025)
46.7x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2025)
0.29%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2025)
14%
Dividends per share ÷ diluted EPS
FCF yield (FY2025)
4.7%
(Operating CF − capex) ÷ market cap
1. Recurring revenue
Reagents, software and diagnostics are largely recurring.
- What has to hold
- Research funding stabilizes.
- The other side
- Pharma and academic budget cuts.
Evidence: Form 10-K (FY2025)
2. Portfolio reshaping
Selling China IDX simplifies the business.
- What has to hold
- Remaining business grows.
- The other side
- Lower revenue base.
Evidence: Form 8-K (2026-08-04)
22
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2025)
Cash & short-term investments ÷ debt due within a year
1.6x
$920M vs. $589M
Interest coverage (operating income ÷ interest expense)
3.9x
$357M vs. $92M
Free cash flow ÷ dividends paid
15.5x
$509M vs. $33M (FCF = operating CF − capex)
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | -16.9% in FY2023 ($3.31B → $2.75B) | Not yet, as of FY2025 |
| Operating income | -59.5% in FY2023 ($743M → $301M) | Not yet, as of FY2025 |
Covers only the 6 fiscal years on record (FY2020–FY2025), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Profitable every year
Net income stayed positive 2020–2025.
Source: Form 10-K (FY2025)
23
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
Revvity discloses no material pending litigation; it accrues for environmental remediation ($10.8M at end-2025).
Company statement:
Based on Form 10-Q (quarter ended 2026-07-05) — Legal Proceedings, reviewed 2026-11-03. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
24
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
- 1Demand & macro
Research and pharma spending
- Company disclosure (summarized from the 10-K)
- Demand depends on pharma, biotech and research funding.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 2Geopolitics & supply chain
China and tariffs
- Company disclosure (summarized from the 10-K)
- Tariffs and trade barriers raise costs; China diagnostics is being divested.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 3Competition & technology shift
Competition and AI
- Company disclosure (summarized from the 10-K)
- Competitiveness could suffer if it fails to deploy AI as rivals do.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 4Law & regulation
FDA regulation
- Company disclosure (summarized from the 10-K)
- Some products are regulated by the FDA and foreign agencies.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
- 5Funding & liquidity
Debt maturities
- Company disclosure (summarized from the 10-K)
- $589M of debt is due within a year at end-2025.
- Company’s stated mitigation
- In addition, o n January 7, 2025, our prior senior unsecured revolving credit facility was cancelled and replaced with a new senior unsecured revolving credit facility with a five-year term and a borrowing capacity of $1.5 billion available through January 7, 2030.
- This site’s assessment
- Impact Low / Likelihood Med
25
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (3)
Uncertainties related to the development, deployment and use of AI to advance our product offerings and improve internal operations may result in harm to our business and reputation.
We are advancing AI across our product and service offerings, and we are in the initial phases of expanding AI into the core functions of our business. Read more
The development and deployment of AI presents both risks and opportunities, and the implementation process could adversely impact the operations of our business as a whole. AI algorithms utilized in the deployment may be flawed or based on datasets that are biased or insufficient, and do not adequately take into account the underlying nature of our business. Failure to adequately train our employees during the deployment of AI could adversely impact our business or result in delays or errors in our offerings. Our competitiveness could also be negatively impacted by our failure to timely develop or deploy AI in our products and services, particularly if our competitors are successful in AI advancements in their products and services. The…
We cannot predict the scope, timing, or impact of threatened U.S. Read more
tariffs on imports, the extent to which other countries may impose retaliatory trade restrictions, or the terms of future trade policy changes. Tariffs implemented during fiscal year 2025 increased our cost of revenue by approximately $25 million and reduced our gross margin by approximately $20 million, primarily affecting products manufactured in Europe for the U.S. market. While we have implemented mitigation strategies including manufacturing optimization, supplier collaboration, pricing adjustments, and temporary cost measures, these actions may not fully offset the impact of existing or future tariffs. Additional tariffs or trade restrictions may materially and adversely affect our results of operations, financial condition, and competitive position.
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Feb 24, 2026 ↗ with the 10-K filed Feb 25, 2025 ↗.
26
What to watch going forwardSite analysis
- Life Sciences recovery.
- China IDX sale closing.
- Tariff impact on margins.
27
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Other sources referenced in the analysis
Last updated
Analysis last edited: November 3, 2026 · Financial data fetched: November 3, 2026 02:09 (SEC EDGAR) · Source 10-K filed: February 24, 2026
Built on10-K FY2025 · filed 2026-02-24Proxy statement (2026)
Next update expectedAfter FY2026’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent Revvity’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.