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Here are 1-2 brief analogies to describe Vontier:

• Snap-on for mobile tool sales: Vontier's Matco Tools business operates a mobile franchise network selling professional tools and equipment to automotive technicians, similar to the larger, more established Snap-on.
• Diebold Nixdorf for gas stations: Vontier, primarily through its Gilbarco Veeder-Root segment, provides the essential fueling equipment, payment systems, and software for gas stations, much like Diebold Nixdorf supplies ATMs and point-of-sale systems for banks and retail.

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• Retail Fueling Solutions: Provides fuel dispensers, payment systems, and point-of-sale software for gas stations and convenience stores.
• Fleet Management Systems: Offers telematics, GPS tracking, and compliance software as a service for commercial fleet optimization.
• Car Wash Technologies: Delivers point-of-sale software, tunnel control systems, and related hardware for automated car wash businesses.
• Advanced Payment Solutions: Develops secure payment terminals, cloud-based platforms, and infrastructure for the retail and fueling sectors.

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Vontier (VNT) sells primarily to other businesses (B2B) rather than directly to individuals. Their customer base is highly diversified, with no single customer accounting for 10% or more of their consolidated net sales, as stated in their financial filings. This makes it impossible to identify specific "major customers" by name and symbol. Instead, Vontier serves a broad range of companies across several industries.

Based on their product offerings and market segments, Vontier's primary categories of business customers include:

• Retail Fueling and Convenience Store Operators: This includes independent gas station owners, regional chains, and convenience store operators who purchase fuel dispensers, payment systems, environmental sensors, and other related infrastructure from Vontier brands like Gilbarco Veeder-Root and OPW.
• Automotive Service and Repair Businesses: This category encompasses independent automotive repair shops, franchised service centers, tire stores, and car dealerships that acquire professional tools, diagnostic equipment, tire changers, and wheel balancers from Vontier brands such as Matco Tools, Hennessy Industries, and Coats.
• Car Wash Operators: Owners and operators of automated and self-service car washes utilize Vontier's car wash systems, control solutions, and related equipment from brands like DRB Systems.

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Mark Morelli, President and CEO

Mark Morelli has served as President and Chief Executive Officer of Vontier Corporation since January 2020. Prior to joining Vontier, he accumulated nearly two decades of executive experience leading global industrial and technology companies through transformative growth and innovation. His previous leadership roles include President and CEO of Columbus McKinnon Corporation, President and COO of Brooks Automation, and CEO of Energy Conversion Devices. He also held various leadership positions at United Technologies, including President of Carrier Commercial Refrigeration. Morelli began his career as a U.S. Army officer and helicopter pilot.

Anshooman Aga, CFO

Anshooman Aga was appointed Chief Financial Officer of Vontier in August 2022. He leads Vontier's finance, corporate development, and IT teams. Aga brings over 20 years of experience driving growth and transformation at industrial and technology-related businesses. Before joining Vontier, he served as Senior Vice President and CFO of Harsco Corporation from August 2021 to August 2022. Prior to that, he was Executive Vice President and CFO of Cubic Corporation, and he held roles as Senior Vice President and CFO of AECOM's Design and Consulting Services business in the Americas, and various financial leadership positions at Siemens.

Katie Rowen, SVP, Chief Administrative Officer

Katie Rowen leads Vontier's Corporate Affairs function, encompassing legal and compliance, EHS, sustainability, human resources, communications, marketing, government relations, and public policy.

Ganesh Kalpundi, Chief Strategy Officer

Ganesh Kalpundi serves as the Chief Strategy Officer for Vontier. In this role, he is responsible for shaping the strategic direction and vision of the company.

Mike Dwyer, President, Matco Tools

Mike Dwyer is the President of Matco Tools, a Vontier company. Matco Tools specializes in professional tools and equipment for the automotive industry.

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The key risks to Vontier's business (VNT) primarily revolve around its core market's secular decline, intense competition, and challenges in revenue growth and profitability as it navigates a critical industry transition.

1. Dependence on Legacy Fueling Solutions Amidst Energy Transition: Vontier's Environmental & Fueling Solutions (EFS) segment, which includes traditional fuel dispensing equipment, is fundamentally tied to the long-term secular decline in fossil fuel demand and infrastructure. This poses a structural headwind as the global fossil fuel market experiences a decline. While Vontier is actively investing in solutions like electric vehicle (EV) charging and alternative fuels to mitigate this, the legacy fueling business requires continuous capital allocation and remains a significant challenge to outrun a shrinking market.
2. Intense Competition and Technological Disruption: Vontier operates in a highly competitive market characterized by rapid technological changes and evolving industry standards. The company faces intense competition in industrial measurement and control technologies. Furthermore, its traditional hardware-centric business model, particularly in measurement systems, is increasingly challenged by emerging digital and Internet of Things (IoT) technologies. This shift in value from hardware to software and data represents a significant threat as disruptive technologies bypass Vontier's core physical infrastructure.
3. Revenue Growth Challenges and Margin Pressures: Vontier has experienced limited revenue growth, with its trailing revenue growth rate lagging some peers. The company faces ongoing challenges in achieving consistent revenue growth and expanding operating margins, leading to investor skepticism regarding future growth. Weakness in segments like Repair Solutions, attributed to macroeconomic pressures, further contributes to these challenges. There is a risk that Vontier could become a "value trap" if it fails to deliver significant margin improvement given its weak revenue momentum and limited visible growth catalysts.

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One clear emerging threat for Vontier (VNT) is the accelerating global transition from internal combustion engine (ICE) vehicles to electric vehicles (EVs). This trend directly threatens Vontier's legacy mobility technologies business, which has historically relied heavily on traditional retail fueling infrastructure (gasoline and diesel pumps). A rapid decline in demand for legacy fueling equipment, coupled with intense competition and varying technological standards in the nascent EV charging market, could significantly erode its primary revenue stream if Vontier's pivot to EV charging solutions is not executed quickly and successfully enough to offset the decline.

Another related clear emerging threat is the fundamental shift in vehicle technology towards electric and increasingly software-defined vehicles, impacting Vontier's diagnostics and repair technologies segment. EVs require different maintenance procedures and specialized tools, potentially rendering traditional diagnostic and repair equipment less relevant or obsolete. The increasing complexity and proprietary nature of vehicle software diagnostics could also shift demand towards OEM-specific solutions or require significant investment in new tool development, challenging Vontier's independent aftermarket brands like Matco Tools and Hennessy Industries.

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1. Growth in Mobility Technologies and Connected Solutions: Vontier anticipates revenue growth from strong demand for its mobility technologies, particularly payment and enterprise productivity solutions, driven by ongoing digitalization in convenience retail. New product introductions, such as the FlexPay 6 payment terminal, are expected to significantly contribute to this growth by increasing adoption of their market-leading technologies within the evolving connected mobility ecosystem.
2. Expansion in Environmental & Fueling Solutions (EFS) and the Multi-Energy Transition: The company projects continued robust demand within its Environmental & Fueling Solutions segment, notably in North America, encompassing dispenser equipment, aftermarket parts, and environmental solutions. Additionally, Vontier is strategically positioned to capitalize on the global shift towards a multi-energy future by providing solutions for alternative fuels, including EV charging infrastructure and hydrogen refueling technologies.
3. New Product Innovation and R&D Investment: Vontier's commitment to reinvigorating research and development (R&D) and launching new, innovative products is a key driver. The introduction of advanced technologies like the NFX platform and enhanced payment solutions are expected to meet evolving market needs and generate future revenue streams.
4. International Market Penetration: Vontier expects to achieve growth by expanding its presence in international markets. This includes leveraging opportunities in the global convenience retail market, where the development of larger hubs and increased technology adoption are anticipated to drive demand for Vontier's offerings.

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Share Repurchases

• Vontier authorized a $500 million share repurchase program in May 2021, which was replenished in May 2022.
• The company executed a $250 million accelerated share repurchase (ASR) program in February 2022.
• In August 2024, Vontier entered into another $100 million ASR, with approximately $190 million remaining under the existing authorization afterward. The company repurchased approximately $225 million in shares during the full year 2024 and approximately $175 million year-to-date in 2025.

Share Issuance

• Vontier was spun off from Fortive Corporation and became an independent, publicly-traded company on October 9, 2020.
• As part of the spin-off, Fortive distributed 80.1% of Vontier's common stock to Fortive shareholders.
• In January 2021, Fortive sold its remaining 33.5 million shares of Vontier common stock in a follow-on offering for $1.1 billion, with the proceeds used to repay Fortive's indebtedness.

Outbound Investments

• Vontier completed the acquisition of DRB Systems, a provider of point-of-sale, workflow software, and control solutions for the car wash industry, in September 2021, as a step to diversify its portfolio.
• The company acquired Invenco, a POS suite solutions company, for $80 million in August 2022, and Sergeant Sudz, a car wash automation technology provider, in June 2025, to enhance its car wash technology offerings.
• Vontier divested its Coats business for $72.5 million in January 2024, and other non-core assets for approximately $60 million in the third quarter of 2025, to focus on strategic priorities.

Capital Expenditures

• Vontier's Capital Expenditure for the three months ended in September 2025 was reported as approximately $20.20 million.
• The company's offerings cater to larger convenience store players who plan capital expenditures through 2027/2028, with R&D expenses expected to grow slower than sales, leveraging AI for efficiency.