Fortive Corp

Industrials
Industrial Machinery/Components
www.fortive.com

Earnings Score
Moat Score
Safety Score

Market Cap $22.96B
PE 29
Debt $4.81B
Cash $892.10M
EV $26.87B
FCF $1.39B

Earnings

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Sales & Net Margins

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Earnings	$797.40M
EBIT	$1.14B
ROE	8%
ROA	7%
FCF	$1.39B
Equity	$10.24B
Growth Stability	34%
PE	28.79
PEG	-12.92
PB	2.24
P/FCF	16.5
P/S	3.71
Price/Cash	0.04
Debt/Equity	0.47
Debt/FCF	3.46
Net Margins	12%
Gross Margins	60%
Op. Margins	18%
Earnings CAGR	-4%
Sales Growth YoY	-3%
Sales Growth QoQ	-9%
Sales CAGR	-0%
FCF CAGR	3%
Equity CAGR	17%
Earnings Stability	0.06
Earnings Growth YoY	-17%
Earnings Growth QoQ	-18%
Earnings CAGR 5Y	-2%

Sales CAGR 5Y	5%
FCF CAGR 5Y	2%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	4%
Sales CAGR 3Y	4%
FCF CAGR 3Y	12%
Equity CAGR 3Y	4%
Market Cap	$22.96B
Revenue	$6.18B
Dividend Yield	0%
Payout Ratio	14%
Assets	$17.14B
Total Debt	$4.81B
Cash	$892.10M
Shares Outstanding	339.9M
EV	26.87B
Earnings Score	6%
Moat Score	85%
Safety Score	62%
Final Score	51%
Working Capital	-21.6M
Current Ratio	0.99
Gross Profit	$3.71B
Shares Growth 3y	-1%
Equity Growth QoQ	0%
Equity Growth YoY	-2%

Assets & ROA

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Stockholders Equity & ROE

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Fortive Corp is a diversified industrial technology firm with a broad portfolio of mission-critical products and services that include field solutions, product realization, health, and sensing technologies. The company serves a wide range of end markets, including manufacturing, utilities, medical, and electronics. Fortive generated roughly $5.3 billion in revenue and $1.2 billion in adjusted operating income in 2021.

SEC Filings

Direct access to Fortive Corp (FTV) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 28
2024
- 10-K Dec 31
- 10-Q Sep 27
- 10-Q Jun 28
- 10-Q Mar 29
2023
- 10-K Dec 31
- 10-Q Sep 29
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Fortive Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Fortive Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -4%

Stability 6%

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Fortive Corp Discounted Cash Flow

Fully customizable DCF calculator online for Fortive Corp.

Years

Calculation mode

= $17B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$1.4B	$1.4B	$1.5B	$1.5B	$1.5B	$1.6B	$1.6B	$1.7B	$1.7B	$1.8B	$1.8B	$18B
DCF		$1.3B	$1.2B	$1.1B	$1.1B	$989M	$923M	$863M	$806M	$752M	$703M	$7B
Value	$17B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	14%	16%	18%	45%	9%	33%	11%	13%	14%	13%	12%
ROA	-	15%	13%	9%	6%	9%	5%	6%	7%	7%	7%
ROE	-	32%	27%	44%	9%	17%	6%	8%	8%	8%	8%

Good Net Margins (11.66%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	3.33	3.9	3.15	6.68	4.18	6.48	3.53	2.94	2.91	3.46
Debt over Equity	0	1.25	1.07	0.59	1.06	0.63	0.64	0.44	0.35	0.4	0.47
Growth Stability	-	-	-	100%	42%	100%	34%	81%	90%	100%	34%

Neutral Debt/FCF ratio (3.46)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.47)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (34%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-13%	7%	12%	13%	-37%	13%	11%	4%	3%	5%
Earnings YoY growth	-	1%	20%	176%	-77%	131%	-63%	32%	15%	-4%	-2%
Equity YoY growth	-	-48%	42%	74%	12%	21%	6%	2%	7%	-1%	6%
FCF YoY growth	-	13%	3%	18%	-5%	16%	-31%	28%	3%	13%	2%