Fortive (FTV)

Industrials · $20.0B market cap · SEC CIK 0001659166

Next reports on Feb 2, 2027, after the close, with analysts expecting $0.92 in earnings per share.

52-week range $49.99 to $68.94. 2% below its 52-week high and 36% above its low.

The case for FTV

• Generated $978M of free cash flow in FY2025, 24% of revenue.
• Gross margin of 63% absorbs cost shocks.
• Within 2% of its 52-week high: the trend is up.

The case against

• Expensive for its growth: 30.6× earnings, where 0% a year of growth would justify about 9×.
• Revenue fell 22.1% year over year.
• Revenue has shrunk 2.1% a year over five years.
• Long-term debt of $2.3B against $376M of cash.
• Return on equity of 11% is lower than 89% of Industrials companies.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.

The financials

The financials, five years deep

Pulled from Fortive's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Fortive says it does

Fortive Corporation innovates essential technologies to keep our world safe and productive. Our strategic segments - Intelligent Operating Solutions and Advanced Healthcare Solutions - include iconic inventor brands with leading positions in their markets. Our businesses design, develop, manufacture, and market products, software, and services, building upon leading brand names, innovative technologies, and strong market positions. We are headquartered in Everett, Washington and have a workforce of more than 10,000 research and development, manufacturing, sales, distribution, service, and administrative professionals in approximately 50 countries around the world. On June 28, 2025, we separated our Precision Technologies segment business into an independent publicly-traded company (the “Separation”) named Ralliant Corporation (“Ralliant”). The Separation was effected to qualify as a tax-free spin-off for Fortive shareholders for U.S.…

Risk factors FTV lists in its 10-K

• Conditions in the global economy, the markets we serve, and the financial markets may adversely affect our business and financial results
• Our financial results are subject to fluctuations in the cost and availability of commodities or components that we use in our operations
• 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 growth depends in part on the timely development, commercialization and customer acceptance of new and enhanced products and services based on technological innovation
• Our ability to successfully manage our leadership transition in connection with the completed Separation and attract, develop, and retain senior leaders and other key employees is critical to our success
• Defects and unanticipated use or inadequate disclosure with respect to our products (including software) or services could adversely affect our business, reputation, and financial results
• 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 results
• Work stoppages, works council campaigns, and other labor disputes could adversely impact our productivity and results of operations
• If we suffer loss to our facilities, supply chains, distribution systems, or information technology systems due to catastrophe or other events, our operations could be seriously harmed
• 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
• Our restructuring activities could have long-term adverse effects on our business
• 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 financial results
• Climate change, or legal or regulatory measures to address climate change, may negatively affect us
• International economic, political, legal, compliance, and business factors could negatively affect our financial results
• Trade relations between the United States and other countries have been volatile and could have a material adverse effect on our business and financial results
• Foreign currency exchange rates, including the volatility thereof, may adversely affect our financial results
• Our strategy requires us to execute and deliver disciplined capital allocation
• Our acquisition of businesses, investments, joint ventures, and other strategic relationships could negatively impact our financial results
• 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
• Divestitures or other dispositions could negatively impact our business, and contingent liabilities from businesses that we have sold could adversely affect our financial results
• Potential indemnification liabilities to Ralliant and Vontier pursuant to the respective separation agreements could materially and adversely affect our businesses, financial condition, results of operations, and cash flows
• Changes in industry standards and governmental regulations may reduce demand for our products or services or increase our expenses
• Our reputation, ability to do business, and financial results may be impaired by improper conduct by any of our employees, agents, or business partners
• Our operations, products, and services expose us to the risk of environmental, health, and safety liabilities, costs, and violations that could adversely affect our reputation and financial results
• Our businesses are subject to extensive regulation, including healthcare regulations; failure to comply with those regulations could adversely affect our financial results and our business, including our reputation
• Changes in our effective tax rates or exposure to additional tax liabilities or assessments could affect our profitability. In addition, audits by tax authorities could result in additional tax payments for prior periods
• We could incur significant liability if our separation from Danaher, our separation of Vontier or our separation of Ralliant (together, the “Separation Transactions”) are determined to be a taxable transaction
• Changes in U.S. GAAP could adversely affect our reported financial results and may require significant changes to our internal accounting systems and processes
• We may be required to recognize impairment charges for our goodwill and other intangible assets

Filings

Other Industrials companies