# Revvity (RVTY.US)

Canonical: https://gigainvestors.com/s/RVTY

Analysis as of: 2026-10-16T07:34:57.094Z. Financial observations: FY1996–FY2026.

Listing currency: USD. Reporting currency: USD.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $154.71 per share; close as of 2026-10-15.

Estimated value: low $74.60 per share, central $83.69 per share, high $95.79 per share. Buy at or below the central value $83.69 per share. Valuation as of 2026-10-16T07:34:57.094Z; scenarios are not confidence intervals.

Expected annual return: 6.5% at the stated quote. About 6.5% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; US 10-year bond 5.1% + 4 points).

## Checklist

### understandable: fail

- 2 revenue declines in the last 10 years (informational)

- operating margin variation exceeds 0.35

- Financial history: 10 years

- Years with declining revenue: 2

- Years with a net loss: 1

- Operating margin variation: 0.41×

Chart: Operating margin; fiscal year observations.

- FY2017: 0.13×

- FY2018: 0.13×

- FY2019: 0.14×

- FY2020: 0.27×

- FY2021: 0.35×

- FY2022: 0.24×

- FY2023: 0.15×

- FY2024: 0.15×

- FY2025: 0.12×

- LTM to Jun 2026: 0.12×

### moat: pass

- ROIC, median of available years: 17.3%

- ROIC, second-lowest year: 10.3%

- Typical minus recent gross margin: -0.0 pp

- Typical gross margin (annual median): 48.0%

- Recent gross margin (lower of latest and 3-year median): 48.1%

- Years with nonpositive capital: 0

- Capital spending / revenue: 2.6%

- ROIC including acquisitions, ten-year median: 7.4%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 45.6%

- FY2017: 15.2%

- FY2018: 25.1%

- FY2019: 22.0%

- FY2020: 38.9%

- FY2021: 19.5%

- FY2022: 12.2%

- FY2023: 10.3%

- FY2024: 10.9%

- FY2025: 10.0%

### economics: pass

- Owner earnings / net income, 5-yr: 1.76×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: $3.4B

- Net income, five-year total: $1.9B

- Return on incremental invested capital: >100%

- Working capital / revenue, annual change: 0.4 pp

- Working capital / revenue, change between three-year averages: 4.4 pp

- Working capital / revenue, final three-year average: 31.4%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 1.22×

- FY2022: 1.60×

- FY2023: -1.96×

- FY2024: 2.15×

- FY2025: 1.95×

### management: fail

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- potential debt-funded buybacks (informational)

- buybacks unrelated to price (informational)

- ROIC first 3 years vs last 3 years: 25.1% vs 10.3%

- Per-share earnings: 1.87 to 2.07 (three-year endpoint medians)

- acquired goodwill and intangibles (proxy) exceeds half of ten-year net income with low and deteriorating ROIC

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 10-year annual growth: 0.3%

- Ordinary dilution, 5-year annual growth: 0.8%

- Market cap gain: $5.1B

- Cumulative retained earnings: $3.9B

- Diluted shares, 10-year annual growth: 0.3%

- Diluted shares, 5-year annual growth: 0.8%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 1.3%

- Per-share value change: $0.20

- Per-share value, starting three-year median: $1.87

- Per-share value, ending three-year median: $2.07

- Buybacks concentrated in cheaper years (correlation): -0.27

- Average buyback yield: 1.7%

- Buyback history: 10 years

- Debt-funded buybacks: Yes

- Acquisition spending: $8.0B

- Cumulative net income, 10 years: $3.5B

- ROIC, first three-year median: 25.1%

- ROIC, last three-year median: 10.3%

Chart: Earnings per share; fiscal year observations.

- FY2016: $2.12

- FY2017: $1.02

- FY2018: $2.14

- FY2019: $2.04

- FY2020: $6.50

- FY2021: $8.08

- FY2022: $4.50

- FY2023: -$0.95

- FY2024: $2.41

- FY2025: $2.07

### accounting: pass

- restructuring or one-time charges in at least three of five years

- Sloan accruals: -2.8%

- Receivables to sales index (DSRI): 1.14×

- Restructuring years, last five: 3

- Stock compensation / operating cash flow: 3.9%

- Earnings backed by cash: Yes

- Operating cash / earnings: 2.41×

- Accounting red flags: 1

- Goodwill and intangibles / equity: 1.24×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -2.7%

- FY2017: -2.9%

- FY2018: -1.2%

- FY2019: -2.1%

- FY2020: -2.1%

- FY2021: -3.1%

- FY2022: -0.8%

- FY2023: -1.5%

- FY2024: -2.7%

- FY2025: -2.8%

## Holders

## Price story

Down 23% since Dec 2021 · "Revvity Slashes Outlook As China Policy Deals Diagnostics Blow" (finance.yahoo.com, Jul 2025) · sales +2%

Story as of 2026-10-16T10:00:03.081Z; price observation 2026-10-15.

Price needs cash profits to grow 9.3% a year for ten years

- 2025-07-28: Revvity Slashes Outlook As China Policy Deals Diagnostics Blow ([finance.yahoo.com](https://finance.yahoo.com/news/revvity-slashes-outlook-china-policy-155141265.html))

- 2025-10-27: RVTY Q3 Earnings Beat, Sales In Line, '25 EPS View Raised ([finance.yahoo.com](https://finance.yahoo.com/news/rvty-q3-earnings-beat-sales-140500726.html))

- 2026-01-13: Revvity trades higher on earnings guidance above consensus ([seekingalpha.com](https://seekingalpha.com/news/4538823-revvity-trades-higher-on-earnings-guidance-above-consensus?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2026-06-08: Revvity (RVTY) Valuation Check After China Immunodiagnostics Exit Plan And Solid First Quarter Results ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/revvity-rvty-valuation-check-china-211746888.html))

- 2026-08-04: RVTY Q2 Earnings Beat Estimates on Diagnostics Strength, '26 View Up ([finance.yahoo.com](https://finance.yahoo.com/healthcare/articles/rvty-q2-earnings-beat-estimates-190900509.html))

### Sales · FY2025–2026

sales +2%; source https://www.sec.gov/Archives/edgar/data/31791/000003179126000012/revv-20251228.htm; observed 2026-02-24.

- FY2017: $2.3B 

- FY2018: $2.8B 

- FY2019: $2.9B 

- FY2020: $3.8B 

- FY2021: $3.8B 

- FY2022: $3.3B 

- FY2023: $2.8B 

- FY2024: $2.8B 

- FY2025: $2.9B 

- FY2026: $2.9B 

### Gross margin · FY2025

gross margin 53.1%; source https://www.sec.gov/Archives/edgar/data/31791/000003179126000012/revv-20251228.htm; observed 2026-02-24.

- FY2016: 46.0% 

- FY2017: 45.6% 

- FY2018: 45.0% 

- FY2019: 44.8% 

- FY2020: 52.6% 

- FY2021: 59.6% 

- FY2022: 53.2% 

- FY2023: 48.1% 

- FY2024: 48.0% 

- FY2025: 53.1% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in diagnostics & research; annual sales are USD 2.9 billion.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2025-12-31 (filed 2026-02-24); FY2025: revenue 2856051000; grossProfit 1516065000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); RVTY.US: Revvity, Inc. provides health sciences solutions, technologies, and services. The company offers instruments, reagents, software, subscriptions, detection and imaging technologies, extended warranties, and training and services; and instruments, reagents, and assay platforms and software products for early detection of common and rare conditions, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market. Its products are used for testing and screening genetic abnormalities, disorders, and diseases, including down syndrome, hypothyroidism, muscular dystrophy, infertility, and various metabolic conditions. It also develops technologies that enable and support genomic workflows using protein coupled receptors and next-generation DNA sequencing for oncology, immunodiagnostics, and drug discovery. It serves pharmaceutical and biotechnology companies, laboratories, academic and research institutions, public health authorities, private healthcare organizations, doctors, and government agencies under the AutoDELFIA, chemagic, Chitas, CNGnome, DELFIA, DELFIA Xpress, EONIS, EUROArray, EUROIMMUN, EUROLabWorkstation, EUROLINE, EUROPattern, Evolution Evoya, GSP, Haoyuan, IDS Immunodiagnosticsystems, IDS-i10, IDS-i10T, IDS-i20, IDS-iSYS, iLab, iQ, LifeCycle, LimsLink, Migele, NeoBase, NeoLSD, NEXTFLEX, Panthera Puncher, PreNAT II, Prime, RONIA, SimplicityChrom, Specimen Gate, Superflex, Symbio, T-SPOT, Vanadis, ViaCord, VICTOR2, and WholePanel brand names, as well as under the Accell, AlphaLISA, AlphaPlex, AlphaScreen, Alpha SureFire, AssayMate, BIOCHIPs, BioLegend, Bioo Scientific, BioQule, Brilliant Violet, Ce3D, CellCarrier, Cellaca, Celigo, Cellometer, cell::explorer, Cell-Vive, Chalice, ChemDraw, CHOSOURCE, Dharmacon, and DharmaFECT brand names. The company was formerly known as PerkinElmer, Inc. and changed its name to Revvity, Inc. in April 2023. Revvity, Inc. was founded in 1937 and is headquartered in Waltham, Massachusetts.

### Why customers stay

Margins ranged from 48% to 53.1% during 2023–25; it earns 17.3% on its capital.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2023-12-31 (filed 2026-02-24); FY2023: grossProfit / revenue = 48.1%.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2024-12-31 (filed 2026-02-24); FY2024: grossProfit / revenue = 48%.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2025-12-31 (filed 2026-02-24); FY2025: grossProfit / revenue = 53.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); 10-year return on capital observations [[2016,0.4557491944901278],[2017,0.15173698145160983],[2018,0.2509645606845635],[2019,0.22030123218103967],[2020,0.3890437138191799],[2021,0.19525856953316553],[2022,0.12184335048761262],[2023,0.10309567346954616],[2024,0.10921886721482105],[2025,0.09969326741393511]]; median 0.17349777549238768. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Where the cash goes

Paid dividends in 10 of 10 years; bought back USD 820.8 million of shares.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2016-12-31 (filed 2026-02-24); FY2016: growth capex 0; upkeep 31702000; owner earnings 301950000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2017-12-31 (filed 2026-02-24); FY2017: growth capex 0; upkeep 39089000; owner earnings 178929000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2018-12-31 (filed 2026-02-24); FY2018: growth capex 0; upkeep 93253000; owner earnings 326121000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2019-12-31 (filed 2026-02-24); FY2019: growth capex 0; upkeep 81331000; owner earnings 360252000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2020-12-31 (filed 2026-02-24); FY2020: growth capex 0; upkeep 77506000; owner earnings 897099000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2021-12-31 (filed 2026-02-24); FY2021: growth capex 0; upkeep 99888000; owner earnings 1154712000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2022-12-31 (filed 2026-02-24); FY2022: growth capex 0; upkeep 85632000; owner earnings 910547000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2023-12-31 (filed 2026-02-24); FY2023: growth capex 0; upkeep 81368000; owner earnings 232023000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2024-12-31 (filed 2026-02-24); FY2024: growth capex 0; upkeep 86648000; owner earnings 637034000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2025-12-31 (filed 2026-02-24); FY2025: growth capex 0; upkeep 73522000; owner earnings 470414000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Dividend observations: [[2016,30799000],[2017,30793000],[2018,31009000],[2019,31059000],[2020,31212000],[2021,32373000],[2022,35344000],[2023,34966000],[2024,34454000],[2025,32799999]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://eodhd.com/api/fundamentals/RVTY.US.json#2025-12-31 (filed 2026-02-24); FY2025: cash repurchases 820815000 USD.

### Are managers owners

Insiders own 0.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); RVTY.US SharesStats.PercentInsiders = 0.261 percentage points; cache date 2026-10-16.

### What could break it

Tariffs enacted and implemented during fiscal year 2025 increased our cost of revenue by approximately $25 million.

- Source: https://www.sec.gov/Archives/edgar/data/31791/000003179126000012/revv-20251228.htm (filed 2026-02-24); Amortization of intangible assets was $141.1 million for fiscal year 2025, as compared to $144.4 million for fiscal year 2024. Tariffs enacted and implemented during fiscal year 2025 increased our cost of revenue by approximately $25 million. Through proactive mitigation efforts, the net impact on gross margin was approximately $20 million.

### What the price says

The price assumes cash profits grow 9.3% yearly over ten years; actual growth was 4.7%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-24); Ten-year compound average after fade. Initial solved rate 0.12023484520890892. Price 154.71; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03. FY2015 owner earnings/share 2.5432202268013944 → FY2025 4.03459839615764. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $50.89 per share

- 2016-11: $50.72 per share

- 2016-12: $52.15 per share

- 2017-01: $53.19 per share

- 2017-02: $54.26 per share

- 2017-03: $58.06 per share

- 2017-04: $59.41 per share

- 2017-05: $63.06 per share

- 2017-06: $68.14 per share

- 2017-07: $65.83 per share

- 2017-08: $66.99 per share

- 2017-09: $68.97 per share

- 2017-10: $72.32 per share

- 2017-11: $73.68 per share

- 2017-12: $73.12 per share

- 2018-01: $80.16 per share

- 2018-02: $76.34 per share

- 2018-03: $75.72 per share

- 2018-04: $73.36 per share

- 2018-05: $74.33 per share

- 2018-06: $73.23 per share

- 2018-07: $79.18 per share

- 2018-08: $92.43 per share

- 2018-09: $97.27 per share

- 2018-10: $86.48 per share

- 2018-11: $87.06 per share

- 2018-12: $78.55 per share

- 2019-01: $90.50 per share

- 2019-02: $94.16 per share

- 2019-03: $96.36 per share

- 2019-04: $95.84 per share

- 2019-05: $86.34 per share

- 2019-06: $96.34 per share

- 2019-07: $86.12 per share

- 2019-08: $82.70 per share

- 2019-09: $85.17 per share

- 2019-10: $85.96 per share

- 2019-11: $92.90 per share

- 2019-12: $97.10 per share

- 2020-01: $92.48 per share

- 2020-02: $86.44 per share

- 2020-03: $75.28 per share

- 2020-04: $90.53 per share

- 2020-05: $100.47 per share

- 2020-06: $98.09 per share

- 2020-07: $118.91 per share

- 2020-08: $117.72 per share

- 2020-09: $125.51 per share

- 2020-10: $129.55 per share

- 2020-11: $133.00 per share

- 2020-12: $143.50 per share

- 2021-01: $147.07 per share

- 2021-02: $126.09 per share

- 2021-03: $128.29 per share

- 2021-04: $129.63 per share

- 2021-05: $145.07 per share

- 2021-06: $154.41 per share

- 2021-07: $182.23 per share

- 2021-08: $184.80 per share

- 2021-09: $173.29 per share

- 2021-10: $176.89 per share

- 2021-11: $182.16 per share

- 2021-12: $201.06 per share

- 2022-01: $172.17 per share

- 2022-02: $179.61 per share

- 2022-03: $174.46 per share

- 2022-04: $146.61 per share

- 2022-05: $149.67 per share

- 2022-06: $142.22 per share

- 2022-07: $153.17 per share

- 2022-08: $135.06 per share

- 2022-09: $120.33 per share

- 2022-10: $133.58 per share

- 2022-11: $139.73 per share

- 2022-12: $140.22 per share

- 2023-01: $137.53 per share

- 2023-02: $124.57 per share

- 2023-03: $133.26 per share

- 2023-04: $130.49 per share

- 2023-05: $115.32 per share

- 2023-06: $118.79 per share

- 2023-07: $122.95 per share

- 2023-08: $117.03 per share

- 2023-09: $110.70 per share

- 2023-10: $82.85 per share

- 2023-11: $88.90 per share

- 2023-12: $109.31 per share

- 2024-01: $107.18 per share

- 2024-02: $109.59 per share

- 2024-03: $105.00 per share

- 2024-04: $102.47 per share

- 2024-05: $109.26 per share

- 2024-06: $104.86 per share

- 2024-07: $125.61 per share

- 2024-08: $122.54 per share

- 2024-09: $127.75 per share

- 2024-10: $118.59 per share

- 2024-11: $116.14 per share

- 2024-12: $111.61 per share

- 2025-01: $126.13 per share

- 2025-02: $112.15 per share

- 2025-03: $105.80 per share

- 2025-04: $93.43 per share

- 2025-05: $90.42 per share

- 2025-06: $96.72 per share

- 2025-07: $87.90 per share

- 2025-08: $90.11 per share

- 2025-09: $87.65 per share

- 2025-10: $93.59 per share

- 2025-11: $104.41 per share

- 2025-12: $96.75 per share

- 2026-01: $108.80 per share

- 2026-02: $98.31 per share

- 2026-03: $87.61 per share

- 2026-04: $86.62 per share

- 2026-05: $104.55 per share

- 2026-06: $111.26 per share

- 2026-07: $112.52 per share

- 2026-08: $128.67 per share

- 2026-09: $152.89 per share

- 2026-10: $154.71 per share

## Annual estimated value (USD per share)

- FY2016: low $27.78 per share, central $31.21 per share, high $35.79 per share

- FY2017: low $27.86 per share, central $31.50 per share, high $36.36 per share

- FY2018: low $32.92 per share, central $37.33 per share, high $43.20 per share

- FY2019: low $36.52 per share, central $41.39 per share, high $47.87 per share

- FY2020: low $49.00 per share, central $55.35 per share, high $63.81 per share

- FY2021: low $49.31 per share, central $55.49 per share, high $63.71 per share

- FY2022: low $70.97 per share, central $80.34 per share, high $92.80 per share

- FY2023: low $69.53 per share, central $77.41 per share, high $87.89 per share

- FY2024: low $67.17 per share, central $75.19 per share, high $85.86 per share

- FY2025: low $69.31 per share, central $77.84 per share, high $89.21 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:40:42.908Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/31791/000003179126000012/revv-20251228.htm); period 2025-12-28, filed 2026-02-24.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.