Fortive Corp FTV
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. federal income tax purposes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.16B | $4.08B | $3.91B | $5.83B | $5.25B | $4.63B | $4.56B | $3.80B | $5.76B | $5.38B |
| Cost of revenue | $1.52B | $1.46B | $1.44B | $2.46B | $2.25B | $2.03B | $2.08B | $1.61B | $2.83B | $2.69B |
| Gross profit | $2.64B | $2.62B | $2.48B | $3.36B | $3.01B | $2.61B | $2.48B | $2.19B | $2.92B | $2.69B |
| R&D | $259.2M | $251.3M | $237.0M | $401.5M | $354.8M | $320.7M | $320.3M | $278.1M | $369.3M | $351.0M |
| SG&A | $1.66B | $1.65B | $1.67B | $1.96B | $1.84B | $1.75B | $1.72B | $1.26B | $1.41B | $1.27B |
| Total operating expenses | -$1.92B | -$1.90B | -$1.90B | -$2.36B | — | — | — | — | — | — |
| Operating income | $720.2M | $716.3M | $574.0M | $987.4M | $812.8M | $539.4M | $443.9M | $645.3M | $1.14B | $1.06B |
| Interest expense | $120.5M | $152.8M | $123.5M | $98.3M | $103.2M | $148.5M | $142.6M | $77.2M | $88.7M | $46.4M |
| Pre-tax income | $602.2M | $506.3M | $433.1M | $873.5M | $677.5M | $1.51B | $336.7M | $565.8M | $1.07B | $1.01B |
| Income tax | $69.5M | $23.8M | $24.7M | $118.3M | $63.3M | $55.5M | $68.6M | $75.6M | $189.3M | $270.3M |
| Net income | $532.7M | $832.9M | $865.8M | $755.2M | $608.4M | $1.61B | $738.9M | $2.91B | $1.04B | $872.3M |
| EPS, basic | 1.74 | 2.39 | 2.46 | 2.12 | 1.64 | 4.58 | 1.99 | 8.33 | 3.01 | 2.52 |
| EPS, diluted | 1.73 | 2.36 | 2.43 | 2.10 | 1.63 | 4.49 | 1.97 | 8.21 | 2.96 | 2.51 |
| Shares, diluted (wtd. avg.) | $334.6M | $352.8M | $355.6M | $360.8M | $352.3M | $359.0M | $340.0M | $350.7M | $352.6M | $347.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $375.5M | $813.3M | $1.89B | $709.2M | $819.3M | $1.82B | $1.21B | $1.18B | $962.1M | $803.2M |
| Receivables | $683.6M | $661.3M | $960.8M | $958.5M | $930.2M | $810.3M | $890.7M | $1.20B | $1.02B | $945.4M |
| Inventory | $291.8M | $269.8M | $536.9M | $536.7M | $512.7M | $455.5M | $416.2M | $574.5M | $506.7M | $544.6M |
| Total current assets | $1.61B | $2.59B | $3.67B | $2.48B | $2.51B | $4.45B | $3.69B | $3.17B | $2.94B | $2.49B |
| Property, plant and equipment | $269.8M | $232.9M | $439.8M | $421.9M | $395.5M | $422.0M | $416.0M | $395.6M | $610.4M | $547.6M |
| Goodwill | $7.30B | $7.22B | $7.27B | $9.05B | $9.15B | $7.36B | $7.24B | $4.99B | $4.56B | $3.45B |
| Other intangibles | $2.19B | $2.53B | $3.16B | $3.49B | $3.89B | $3.29B | $3.57B | $2.48B | $1.26B | $747.3M |
| Total assets | $11.74B | $17.02B | $16.91B | $15.89B | $16.47B | $16.05B | $17.44B | $12.91B | $10.50B | $8.19B |
| Short-term debt | $899.5M | $376.2M | $0 | $999.7M | $2.15B | $1.40B | $1.50B | $455.6M | $0 | — |
| Total current liabilities | $2.25B | $2.24B | $1.79B | $2.73B | $3.71B | $2.86B | $3.47B | $2.19B | $1.60B | $1.47B |
| Long-term debt | $2.31B | $3.33B | $3.65B | $2.25B | $1.81B | $2.83B | $4.83B | $2.97B | $4.06B | $3.36B |
| Retained earnings | $5.43B | $8.23B | $7.51B | $6.74B | $6.02B | $5.55B | $4.13B | $3.55B | $1.35B | $403.0M |
| Total equity | $6.45B | $10.19B | $10.32B | $9.68B | $9.51B | $8.96B | $7.39B | $6.60B | $3.79B | $2.69B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.08B | $1.53B | $1.35B | $1.30B | $961.1M | $1.44B | $1.27B | $1.34B | $1.18B | $1.14B |
| Depreciation and amortisation | $437.6M | $430.9M | $426.2M | $465.6M | $395.5M | $384.0M | $341.5M | $174.2M | $158.3M | $160.9M |
| Stock-based compensation | $116.8M | $90.1M | $94.5M | $93.8M | $77.4M | $62.6M | $52.5M | $40.6M | $44.2M | $40.7M |
| Capital expenditure | $105.1M | $86.1M | $78.6M | $95.8M | $50.0M | $75.7M | $74.5M | $69.9M | $111.1M | $110.1M |
| Investing cash flow | -$135.4M | -$1.80B | -$195.4M | -$102.5M | -$2.62B | -$148.4M | -$4.05B | -$1.97B | -$1.67B | -$310.8M |
| Financing cash flow | -$1.39B | -$792.7M | $32.3M | -$1.27B | $652.0M | -$696.1M | $2.80B | $879.1M | $599.7M | $3.8M |
| Dividends paid | $92.2M | $111.2M | $102.0M | $99.5M | $97.7M | $94.4M | $93.8M | $96.6M | $97.2M | $3.00B |
| Buybacks | $1.61B | $889.6M | $272.9M | $442.9M | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-189078.
Others in SIC 3823
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| DHR | DANAHER CORP /DE/ | $145.98B | 41.1x | 2.9% |
| KEYS | Keysight Technologies, Inc. | $55.71B | 66.6x | 8.0% |
| AME | AMETEK INC/ | $54.50B | 37.1x | 6.6% |
| ROP | ROPER TECHNOLOGIES INC | $40.28B | 28.7x | 12.3% |
| MKSI | MKS INC | $17.60B | 59.6x | 9.6% |
| CGNX | COGNEX CORP | $10.47B | 91.5x | 8.7% |
| RAL | Ralliant Corp | $7.02B | — | -4.0% |
| ST | Sensata Technologies Holding plc | $6.27B | 205.1x | -5.8% |