A Business at a Glance
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Fortive Corp
FTV
$20.9B
Mkt Cap
$62.31
+2.79%
Fortive Corp (FTV) has a current P/E ratio of 36.0, compared to its historical median P/E of 26.9. The stock is currently considered Fair based on its historical valuation range.
Fortive Corp (FTV) has a 5-year average return on invested capital (ROIC) of 5.7%. This is below average and may indicate limited pricing power.
Fortive Corp (FTV) has a market capitalization of $19.0B. It is classified as a large-cap stock.
Yes, Fortive Corp (FTV) pays a dividend with a trailing twelve-month yield of 0.44%. The company also returns capital through share buybacks, with a buyback yield of 10.02%.
Based on historical P/E analysis, Fortive Corp (FTV) appears fair. The current P/E of 36.0 is 34% above its historical median of 26.9. The estimated fair value CAGR (P/E method) is -10.3%.
Fortive Corp (FTV) operates in the Industrial Instruments For Measurement, Display, And Control industry, within the Technology sector.
Fortive Corp (FTV) reported annual revenue of $4.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Fortive Corporation operates two reportable segments—Intelligent Operating Solutions and Advanced Healthcare Solutions—providing advanced instrumentation, software, and services to tens of thousands of customers globally. The Intelligent Operating Solutions segment serves professional users including electrical engineers, electricians, technicians, facility managers, and first-responders across manufacturing, process industries, healthcare, utilities, and communications end-markets through brands including FLUKE, SERVICECHANNEL, GORDIAN, ACCRUENT, INDUSTRIAL SCIENTIFIC, and INTELEX, offering professional instruments, facility and asset lifecycle software, connected worker safety solutions, and condition monitoring capabilities. The Advanced Healthcare Solutions segment supplies critical workflow solutions to healthcare providers through instrument sterilization, tracking, biomedical testing, radiation detection, and clinical productivity software marketed under brands including ASP, CENSIS, FLUKE BIOMEDICAL, LANDAUER, and PROVATION. Fortive's business model combines transactional product sales with recurring software and consumables revenue streams, supported by a global workforce of over 10,000 professionals across approximately 50 countries, unified by the Fortive Business System culture of continuous improvement and disciplined execution. The company sources raw materials from numerous independent suppliers worldwide and competes on factors including price, quality, performance, delivery speed, applications expertise, distribution access, service and support, technology and innovation, and brand recognition in highly competitive markets where it maintains leadership positions in most served segments.
【Accelerating profitable growth trajectory】 Management expects continued execution of the Fortive Accelerated strategy focused on faster profitable growth, disciplined capital allocation, and investor trust building. The company anticipates core growth in the 2%-3% range for 2026 with results trending toward the upper end, supported by strong order patterns and healthy backlogs, while maintaining confidence in a medium-term financial framework targeting 50-100 basis points of adjusted EBITDA margin expansion annually. Commercial investments in high-growth verticals such as data centers, defense, and distributed energy are expected to drive acceleration, with particular momentum in Fluke's recurring revenue streams and software businesses demonstrating resilience and outperformance. Management remains focused on deploying capital to optimize shareholder returns over the medium to long term while continuing to execute targeted growth initiatives across both segments.
| Metric | Target | Period |
|---|---|---|
| Adjusted EPS | $2.90–$3.00 | FY2026 |
| Core revenue growth | 2%-3% | FY2026 |
| Reported revenue | ~$4.3 billion | FY2026 |
| Adjusted EBITDA margin expansion | 50–100 basis points | FY2026 and FY2027 |
Adjusted EPS (FY2026): “we are initiating full-year 2026 Adjusted EPS guidance of $2.90-$3, representing approximately 9% year-over-year growth at the midpoint”
Core revenue growth (FY2026): “We continue to expect core growth in the 2%-3% range, and given strong order patterns, we believe results are trending towards the upper end of that range”
Reported revenue (FY2026): “Based on current foreign exchange rates, we expect full- year reported revenue of around $4.3 billion”
Adjusted EBITDA margin expansion (FY2026 and FY2027): “we are very confident in our medium-term financial framework, and that calls to 50 basis points-1 00 basis points of EBITDA margin expansion over the course of this year and next year, each year”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.8B | 4.2B | 4.1B | 3.9B | 5.8B | 5.3B |
| Net Income | 544M | 579M | 833M | 866M | 755M | 574M |
| EPS | $1.70 | $1.73 | $2.36 | $2.43 | $2.10 | $1.63 |
| Free Cash Flow | 971M | 978M | 1.4B | 1.3B | 1.2B | 911M |
| ROIC | 6.2% | 5.8% | 5.4% | 4.3% | 6.7% | 6.3% |
| Gross Margin | 64.9% | 63.5% | 64.2% | 63.3% | 57.7% | 57.2% |
| Debt/Equity | 0.67 | 0.51 | 0.31 | 0.45 | 0.36 | 0.47 |
| Dividends/Share | $0.27 | $0.28 | $0.32 | $0.29 | $0.28 | $0.28 |
| Operating Income | 678M | 720M | 716M | 574M | 987M | 813M |
| Operating Margin | 18.1% | 17.3% | 17.6% | 14.7% | 16.9% | 15.5% |
| ROE | 8.9% | 7.0% | 8.1% | 8.7% | 7.9% | 6.2% |
| Shares Outstanding | 306M | 335M | 353M | 356M | 360M | 352M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 6.3B | 6.2B | 5.4B | 5.8B | 6.5B | 4.6B | 4.6B | 5.3B | 5.8B | 3.9B | 4.1B | 4.2B | 3.8B |
| Gross Margin | 48.1% | 48.6% | 49.9% | 50.8% | 33.9% | 54.4% | 56.3% | 57.2% | 57.7% | 63.3% | 64.2% | 63.5% | 64.9% |
| R&D | 388M | 378M | 351M | 369M | 278M | 320M | 321M | 355M | 402M | 237M | 251M | 259M | 221M |
| SG&A | 1.4B | 1.4B | 1.3B | 1.4B | 1.3B | 1.7B | 1.7B | 1.8B | 2.0B | 1.7B | 1.7B | 1.7B | 1.5B |
| EBIT | 1.2B | 1.3B | 1.1B | 1.1B | 645M | 444M | 539M | 813M | 987M | 574M | 716M | 720M | 678M |
| Op. Margin | 19.7% | 20.5% | 19.7% | 19.9% | 10.0% | 9.7% | 11.6% | 15.5% | 16.9% | 14.7% | 17.6% | 17.3% | 18.1% |
| Net Income | 883M | 863M | 872M | 1.0B | 2.9B | 670M | 1.5B | 574M | 755M | 866M | 833M | 579M | 544M |
| Net Margin | 13.9% | 14.0% | 16.2% | 18.1% | 44.6% | 14.7% | 33.3% | 10.9% | 13.0% | 22.1% | 20.4% | 13.9% | 14.5% |
| Non-Recurring | 28M | 12M | 15M | 31M | 6.0M | 91M | 27M | 19M | 0 | 0 | -26M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 11.7% | 16.7% | 14.4% | 14.4% | 33.1% | 3.2% | 4.4% | 6.3% | 6.7% | 4.3% | 5.4% | 5.8% | 6.2% |
| ROE | N/A | 16.7% | 22.2% | 32.2% | 55.4% | 9.6% | 18.9% | 6.2% | 7.9% | 8.7% | 8.1% | 7.0% | 8.9% |
| ROA | 12.0% | 11.8% | 11.3% | 11.2% | 24.6% | 4.4% | 9.2% | 3.5% | 4.7% | 5.3% | 4.9% | 4.0% | 4.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 947M | 1.0B | 1.1B | 1.2B | 1.3B | 1.3B | 1.4B | 961M | 1.3B | 1.4B | 1.5B | 1.1B | 1.1B |
| Free Cash Flow | 844M | 889M | 1.0B | 1.1B | 1.3B | 1.2B | 1.4B | 911M | 1.2B | 1.3B | 1.4B | 978M | 971M |
| Owner Earnings | 738M | 797M | 935M | 974M | 1.1B | 877M | 990M | 488M | 744M | 833M | 1.0B | 529M | 549M |
| CapEx | 103M | 120M | 110M | 111M | 70M | 75M | 76M | 50M | 96M | 79M | 86M | 105M | 105M |
| Maint. CapEx | 178M | 177M | 161M | 158M | 174M | 342M | 384M | 396M | 466M | 426M | 431M | 438M | 416M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 178M | 177M | 161M | 158M | 174M | 342M | 384M | 396M | 466M | 426M | 431M | 438M | 416M |
| CapEx/OCF | 10.8% | 11.9% | 11.4% | 9.4% | 8.4% | 5.9% | 5.3% | 5.2% | 7.4% | 8.0% | 5.6% | 9.7% | 9.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 3.0B | 97M | 97M | 94M | 94M | 98M | 100M | 102M | 111M | 92M | 83M |
| Dividend Yield | N/A | N/A | 27.6% | 0.7% | 0.6% | 0.6% | 0.6% | 0.5% | 0.6% | 0.5% | 0.5% | 0.5% | 0.4% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 443M | 273M | 890M | 1.6B | 1.9B |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.0% | 1.1% | 4.4% | 8.6% | 10.0% |
| Stock-Based Comp | 31M | 35M | 41M | 44M | 41M | 53M | 63M | 77M | 94M | 95M | 90M | 117M | 111M |
| Debt Repayment | 0 | 0 | 0 | 0 | 1.9B | 455M | 1.7B | 611M | 1.0B | 1.0B | 1.0B | 716M | 716M |
| Balance Sheet | |||||||||||||
| Net Debt | 0 | 0 | 2.9B | 3.7B | 2.0B | 5.8B | 1.5B | 3.7B | 2.8B | 2.8B | 2.4B | 2.9B | 3.7B |
| Cash & Equiv. | 0 | 0 | 803M | 962M | 1.2B | 1.2B | 1.8B | 819M | 709M | 1.9B | 813M | 376M | 356M |
| Long-Term Debt | N/A | 0 | 3.4B | 4.1B | 3.0B | 4.8B | 2.8B | 1.8B | 2.3B | 3.6B | 3.3B | 2.3B | 2.6B |
| Debt/Equity | N/A | 0.00 | 1.39 | 1.22 | 0.48 | 0.95 | 0.37 | 0.47 | 0.36 | 0.45 | 0.31 | 0.51 | 0.67 |
| Interest Coverage | N/A | N/A | 22.9 | 12.9 | 8.4 | 3.1 | 3.6 | 7.9 | 10.0 | 4.6 | 4.7 | 6.0 | 6.0 |
| Equity | N/A | 5.2B | 2.7B | 3.8B | 6.6B | 7.4B | 9.0B | 9.5B | 9.7B | 10.3B | 10.2B | 6.5B | 6.1B |
| Total Assets | 7.4B | 7.2B | 8.2B | 10.5B | 12.9B | 17.4B | 16.1B | 16.5B | 15.9B | 16.9B | 17.0B | 11.7B | 11.6B |
| Total Liabilities | N/A | 2.0B | 5.5B | 6.7B | 6.3B | 10.0B | 7.1B | 6.9B | 6.2B | 6.6B | 6.8B | 5.3B | -47M |
| Intangibles | N/A | 759M | 747M | 1.3B | 2.5B | 3.6B | 3.3B | 3.9B | 3.5B | 3.2B | 2.5B | 2.2B | 2.1B |
| Retained Earnings | N/A | 0 | 403M | 1.4B | 3.6B | 4.1B | 5.5B | 6.0B | 6.7B | 7.5B | 8.2B | 5.4B | 5.5B |
| Working Capital | N/A | 271M | 1.0B | 1.3B | 979M | 222M | 1.6B | -1.2B | -250M | 1.9B | 354M | -641M | -638M |
| Current Assets | 5.7B | 1.6B | 2.5B | 2.9B | 3.2B | 3.7B | 4.4B | 2.5B | 2.5B | 3.7B | 2.6B | 1.6B | 1.5B |
| Current Liabilities | N/A | 1.3B | 1.5B | 1.6B | 2.2B | 3.5B | 2.9B | 3.7B | 2.7B | 1.8B | 2.2B | 2.2B | 2.2B |
| Per Share Data | |||||||||||||
| EPS | 2.56 | 8,628,000.00 | 2.51 | 2.96 | 8.21 | 1.97 | 4.49 | 1.63 | 2.10 | 2.43 | 2.36 | 1.73 | 1.70 |
| Owner EPS | 2.14 | 7,969,000.00 | 2.69 | 2.76 | 3.22 | 2.58 | 2.88 | 1.39 | 2.07 | 2.34 | 2.85 | 1.58 | 1.80 |
| Book Value | N/A | 51,795,000.00 | 7.73 | 10.74 | 18.81 | 21.72 | 26.06 | 27.02 | 26.93 | 28.96 | 28.87 | 19.28 | 19.91 |
| Cash Flow/Share | 2.74 | 10,090,000.00 | 3.27 | 3.33 | 3.83 | 3.74 | 4.18 | 2.73 | 3.62 | 3.80 | 4.33 | 3.24 | 3.14 |
| Dividends/Share | 0.00 | 0.00 | 8.63 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.29 | 0.32 | 0.28 | 0.27 |
| Shares Out. | 345.1M | 0.0M | 347.5M | 352.9M | 350.7M | 340.1M | 343.9M | 352.1M | 359.6M | 356.3M | 352.9M | 334.8M | 305.6M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 20.6 | 23.7 | 7.9 | 31.7 | 15.0 | 45.6 | 29.8 | 30.0 | 24.0 | 32.2 | 36.6 |
| P/FCF | N/A | N/A | 11.0 | 14.6 | 11.2 | 13.4 | 12.8 | 21.6 | 14.0 | 15.3 | 13.9 | 19.0 | 19.6 |
| EV/EBIT | N/A | N/A | 15.8 | 23.5 | 20.6 | 26.7 | 47.1 | 37.7 | 25.7 | 22.8 | 31.4 | 30.5 | 33.6 |
| Price/Book | N/A | N/A | 6.7 | 6.5 | 3.4 | 2.9 | 2.6 | 2.7 | 2.3 | 2.5 | 2.0 | 2.9 | 3.1 |
| Price/Sales | N/A | N/A | 2.8 | 3.8 | 4.0 | 4.6 | 4.3 | 4.7 | 3.8 | 4.1 | 5.0 | 4.2 | 5.1 |
| FCF Yield | N/A | N/A | 5.7% | 4.3% | 5.6% | 5.6% | 5.9% | 3.5% | 5.4% | 4.9% | 7.2% | 5.3% | 5.1% |
| Market Cap | 0 | N/A | 18.0B | 24.7B | 22.7B | 21.2B | 23.2B | 26.1B | 22.5B | 26.0B | 20.0B | 18.6B | 19.0B |
| Avg. Price | 0.00 | N/A | 31.31 | 39.15 | 46.88 | 46.56 | 43.83 | 53.09 | 46.60 | 52.09 | 57.30 | 52.78 | 62.31 |
| Year-End Price | N/A | N/A | 32.63 | 44.21 | 40.82 | 47.04 | 50.83 | 55.95 | 47.15 | 54.91 | 56.69 | 55.63 | 62.31 |
Fortive Corp passes 4 of 9 quality checks, suggesting mixed fundamentals.
Fortive Corp trades at 36.0x trailing earnings, compared to its 15-year median P/E of 26.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 19.6x vs a median of 14.0x. The company's 5-year average ROIC is 5.7% with a gross margin of 61.2%. Total shareholder yield (dividends + buybacks) is 10.5%. At current prices, the estimated annualized return to fair value is +3.1%.
Fortive Corp (FTV) has a net profit margin of 13.9%. This is a healthy margin.
Fortive Corp (FTV) generated $978 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Fortive Corp (FTV) has a debt-to-equity ratio of 0.51. This indicates moderate leverage.
Fortive Corp (FTV) reported earnings per share (EPS) of $1.73 in its most recent fiscal year.
Fortive Corp (FTV) has a return on equity (ROE) of 7.0%. This indicates moderate shareholder returns.
Fortive Corp (FTV) has a 5-year average gross margin of 61.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for Fortive Corp (FTV), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Fortive Corp (FTV) has a book value per share of $19.28, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued execution of the Fortive Accelerated strategy focused on faster profitable growth, disciplined capital allocation, and investor trust building. The company anticipates core growth in the 2%-3% range for 2026 with results trending toward the upper end, supported by strong order patterns and healthy backlogs, while maintaining confidence in a medium-term financial framework targeting 50-100 basis points of adjusted EBITDA margin expansion annually. Commercial investments in high-growth verticals such as data centers, defense, and distributed energy are expected to drive acceleration, with particular momentum in Fluke's recurring revenue streams and software businesses demonstrating resilience and outperformance. Management remains focused on deploying capital to optimize shareholder returns over the medium to long term while continuing to execute targeted growth initiatives across both segments.
Based on recent SEC filings and earnings calls, Fortive Corp (FTV) has provided the following forward guidance: Adjusted EPS: $2.90–$3.00 (FY2026); Core revenue growth: 2%-3% (FY2026); Reported revenue: ~$4.3 billion (FY2026); Adjusted EBITDA margin expansion: 50–100 basis points (FY2026 and FY2027).
No recent press releases.