Fortive Corporation
Industrial Instruments For Measurement, Display, And Control
Fortive Corp is a diversified industrial technology firm offering essential technologies, software, and services globally across several industries, such as manufacturing, utilities, medical, electronics, etc. It has two reportable segments: Intelligent Operating Solutions and Advanced Healthcare Solutions.
It is a $17.3B technology company. Revenue shrank 45.8% over the last year, it keeps 16¢ of every dollar of sales as profit, and its net debt equals ~2.0 years of free cash flow. It trades at 32.4× earnings — around the middle of its own history.
- Website
- fortive.com
- Location
- Everett, WA
- Employees
- 10 000
- Sector
- Technology
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong quality; Growth lags behind.
Valuation57
- P/E vs own history64th pct · 5/25
- FCF yield5.5% · 20/25
- P/S4.0x · 20/25
- EV/EBITDA24.0x · 12/25
Growth31
- Revenue CAGR-5.7% · 0/25
- Net income CAGR0.2% · 6/25
- EPS CAGR ~5Y-16.6% · 0/25
- Fwd implied growth84.2% · 25/25
Profitability57
- ROIC6.9% · 5/25
- ROE8.5% · 12/25
- Net margin16.0% · 20/25
- Operating margin18.2% · 20/25
Health60
- Altman Z2.94 · 18/25
- Current ratio1.24 · 12/25
- Interest coverage6.0x · 18/25
- Net cash / debtD/A 16% · 12/25
Quality90
- Piotroski F6/9 · 15/25
- Beneish M-3.06 · 25/25
- FCF conversion179% · 25/25
- Margin stabilityσ 4.0% · 25/25
Moat68
- ROIC >12% years2/10 yrs · 0/25
- Median gross margin56.8% · 25/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 9.2% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2023AcquisitionFortive acquired German manufacturer Elektro-Automatik for $1.45 billion
- 2019AcquisitionFurthering their investment in healthcare, in November 2019 Fortive acquired Censis Technologies, a SaaS-based…
- FY2018FinancialBest year on record$2.88B net income
- 2018AcquisitionAdditionally, Tektronix acquired Initial State in 2018
- 2017AcquisitionFortive acquired Pittsburgh-based Industrial Scientific
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$6.22B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2016MilestoneFortive was spun off from Danaher in July 2016
- 2016AcquisitionFortive subsidiary Fluke, which specializes in electronic test equipment, acquired eMaint, a CMMS…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (63.2%)
- Strong cash conversion — FCF is 28.7% of revenue
- Interest covered 6.0× by operating earnings
Watch-outs
- Revenue shrinking 45.8% year over year
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-45.8% YoY
- Profitable — makes more than it spends$534M TTM
- Profit growing — earnings are higher than last year-6.1% YoY
- Generates cash — cash left after running and investing$955M TTM
- Debt under control — could handle its obligations~2.0y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$17.3B market cap
- Not printing shares — share count not ballooning — you keep your slice-6.8% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 2.9 — grey
- Pays a dividend — returns cash to shareholdersyield 0.33%
- Valuation not extreme — price not wildly above earningsP/E 32.4
Peer comparisonFortive Corporation vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| FTV this company | $17.3B | 32.4 | -45.8% | 16.0% | Solid |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: FTV vs NVDA · FTV vs AAPL · FTV vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/FTV
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of FTV on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $57.26 · market cap $17.3B.