NYSE : FTV
Fortive Corporation — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 65.23 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 19.42B
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Financial statements
Fortive Corporation (FTV) reported revenue of 4.40B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.40B | 4.16B | 4.08B | 3.91B | 5.83B | 5.25B |
| Cost of Revenue | 1.61B | 1.52B | 1.46B | 1.44B | 2.46B | 2.25B |
| Gross Profit | 2.79B | 2.64B | 2.62B | 2.48B | 3.36B | 3.01B |
| Selling, General & Admin | 1.66B | 1.66B | 1.65B | 1.67B | 1.96B | 1.84B |
| Research & Development | 268.20M | 259.20M | 251.30M | 237.00M | 401.50M | 354.80M |
| Operating Expenses | 1.93B | 1.92B | 1.90B | 1.90B | 2.36B | 2.20B |
| Operating Income | 863.40M | 720.60M | 717.10M | 573.20M | 1.01B | 810.60M |
| Interest Expense | -136.80M | -120.50M | -152.80M | -123.50M | -98.30M | -103.20M |
| Other Non Operating Income (Expenses) | 12.70M | 2.10M | -58.00M | -16.60M | -8.40M | -11.90M |
| EBT Excluding Unusual Items | 739.30M | 602.20M | 506.30M | 433.10M | 899.00M | 695.50M |
| Merger & Restructuring Charges | -17.90M | |||||
| Gain (Loss) on Sale of Investments | -8.10M | 57.00M | ||||
| Gain (Loss) on Sale of Assets | 500.00K | |||||
| Legal Settlements | 29.90M | |||||
| Other Unusual Items | -104.90M | |||||
| Pretax Income | 739.30M | 602.20M | 506.30M | 433.10M | 873.50M | 677.50M |
| Income Tax Expense | 81.60M | 69.50M | 23.80M | 24.70M | 118.30M | 63.30M |
| Earnings From Continuing Operations | 657.70M | 532.70M | 482.50M | 408.40M | 755.20M | 614.20M |
| Earnings From Discontinued Operations | -5.80M | 46.50M | 350.40M | 457.40M | -5.80M | |
| Net Income | 651.90M | 579.20M | 832.90M | 865.80M | 755.20M | 608.40M |
| Preferred Dividends & Other Adjustments | 34.50M | |||||
| Net Income to Common | 651.90M | 579.20M | 832.90M | 865.80M | 755.20M | 573.90M |
| Shares Outstanding (Basic) | 307.62M | 332.00M | 349.20M | 352.50M | 356.40M | 349.00M |
| Shares Outstanding (Diluted) | 310.82M | 334.60M | 352.80M | 355.60M | 360.80M | 352.30M |
| EPS (Basic) | 2.12 | 1.74 | 2.39 | 2.46 | 2.12 | 1.64 |
| EPS (Diluted) | 2.10 | 1.73 | 2.36 | 2.44 | 2.10 | 1.63 |
| Free Cash Flow | 1.09B | 978.10M | 1.44B | 1.27B | 1.21B | 911.10M |
| Free Cash Flow Per Share | 3.49 | 2.92 | 4.08 | 3.58 | 3.35 | 2.59 |
| Dividend Per Share | 0.25 | 0.28 | 0.32 | 0.29 | 0.28 | 0.28 |
| Gross Margin | 63.47% | 63.50% | 64.18% | 63.29% | 57.73% | 57.23% |
| Operating Margin | 19.64% | 17.33% | 17.57% | 14.64% | 17.26% | 15.43% |
| Profit Margin | 14.83% | 13.93% | 20.41% | 22.12% | 12.96% | 10.92% |
| Free Cash Flow Margin | 24.69% | 23.52% | 35.30% | 32.58% | 20.72% | 17.34% |
| EBITDA | 1.31B | 1.16B | 1.15B | 999.40M | 1.47B | 1.21B |
| EBITDA Margin | 29.88% | 27.85% | 28.13% | 25.54% | 25.25% | 22.95% |
| D&A For EBITDA | 450.30M | 437.60M | 430.90M | 426.20M | 465.60M | 395.50M |
| EBIT | 863.40M | 720.60M | 717.10M | 573.20M | 1.01B | 810.60M |
| EBIT Margin | 19.64% | 17.33% | 17.57% | 14.64% | 17.26% | 15.43% |
| Effective Tax Rate | 11.04% | 11.54% | 4.70% | 5.70% | 13.54% | 9.34% |
| Revenue as Reported | 4.40B | 4.16B | 4.08B | 3.91B | 5.83B | 5.25B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 377.30M | 375.50M | 813.30M | 1.89B | 709.20M | 819.30M |
| Cash & Short-Term Investments | 377.30M | 375.50M | 813.30M | 1.89B | 709.20M | 819.30M |
| Receivables | 812.50M | 834.60M | 777.30M | 1.07B | 1.04B | 930.20M |
| Inventory | 315.20M | 291.80M | 269.80M | 536.90M | 536.70M | 512.70M |
| Prepaid Expenses | 68.30M | 83.00M | 117.60M | 177.10M | 190.60M | 252.70M |
| Other Current Assets | 4.80M | 20.80M | 614.30M | |||
| Total Current Assets | 1.58B | 1.61B | 2.59B | 3.67B | 2.48B | 2.51B |
| Property, Plant & Equipment | 361.30M | 365.90M | 324.70M | 594.80M | 583.90M | 571.10M |
| Goodwill | 7.33B | 7.30B | 7.22B | 9.12B | 9.05B | 9.15B |
| Other Intangible Assets | 1.93B | 2.19B | 2.53B | 3.16B | 3.49B | 3.89B |
| Other Long-Term Assets | 216.10M | 279.40M | 4.35B | 363.90M | 293.80M | 337.30M |
| Total Assets | 11.50B | 11.74B | 17.02B | 16.91B | 15.89B | 16.47B |
| Accounts Payable | 424.70M | 436.40M | 425.40M | 608.60M | 623.00M | 557.90M |
| Accrued Expenses | 407.10M | 190.00M | 184.90M | 301.10M | 266.20M | 279.30M |
| Current Portion of Long-Term Debt | 899.50M | 376.20M | 999.70M | 2.15B | ||
| Current Portion of Leases | 27.00M | 24.80M | 37.60M | 38.40M | 44.60M | |
| Current Income Taxes Payable | 120.40M | 102.80M | 129.80M | 132.50M | 53.00M | |
| Current Unearned Revenue | 448.60M | 440.30M | 410.10M | 544.60M | 509.60M | 457.60M |
| Other Current Liabilities | 7.00M | 133.00M | 714.20M | 169.60M | 157.70M | 170.80M |
| Total Current Liabilities | 1.29B | 2.25B | 2.24B | 1.79B | 2.73B | 3.71B |
| Long-Term Debt | 3.51B | 2.31B | 3.33B | 3.65B | 2.25B | 1.81B |
| Long-Term Leases | 85.90M | 73.60M | 73.10M | 126.30M | 131.00M | 139.90M |
| Long-Term Unearned Revenue | 24.00M | 24.10M | 23.10M | 45.80M | 38.00M | 33.80M |
| Pension & Post-Retirement Benefits | 26.60M | 27.40M | 88.70M | 77.90M | 133.90M | |
| Other Long-Term Liabilities | 634.40M | 599.20M | 1.13B | 888.20M | 976.40M | 1.12B |
| Total Liabilities | 5.55B | 5.28B | 6.82B | 6.59B | 6.20B | 6.95B |
| Common Stock | 3.70M | 3.70M | 3.70M | 3.60M | 3.60M | 3.60M |
| Additional Paid-In Capital | 4.29B | 4.21B | 4.04B | 3.85B | 3.71B | 3.67B |
| Retained Earnings | 5.84B | 5.43B | 8.23B | 7.51B | 6.74B | 6.02B |
| Treasury Stock | -4.24B | -3.23B | -1.61B | -715.80M | -442.90M | |
| Comprehensive Income & Other | 50.70M | 41.00M | -465.40M | -326.10M | -325.70M | -185.00M |
| Total Common Equity | 5.95B | 6.45B | 10.19B | 10.32B | 9.68B | 9.51B |
| Minority Interest | 9.70M | 7.70M | 7.00M | 6.40M | 5.20M | 4.80M |
| Shareholders' Equity | 5.96B | 6.46B | 10.20B | 10.33B | 9.69B | 9.52B |
| Total Liabilities & Equity | 11.50B | 11.74B | 17.02B | 16.91B | 15.89B | 16.47B |
| Total Debt | 3.60B | 3.31B | 3.81B | 3.81B | 3.42B | 4.14B |
| Net Cash (Debt) | -3.22B | -2.93B | -2.99B | -1.92B | -2.71B | -3.32B |
| Net Cash Per Share | -10.37 | -8.76 | -8.48 | -5.40 | -7.52 | -9.44 |
| Filing Date Shares Outstanding | 297.64M | 307.86M | 340.29M | 351.38M | 353.20M | 359.07M |
| Total Common Shares Outstanding | 298.10M | 313.40M | 341.20M | 350.70M | 352.90M | 359.10M |
| Working Capital | 290.70M | -640.90M | 353.90M | 1.88B | -250.10M | -1.20B |
| Book Value Per Share | 19.95 | 20.59 | 29.86 | 29.42 | 27.44 | 26.49 |
| Tangible Book Value | -3.32B | -3.03B | 442.10M | -1.96B | -2.85B | -3.53B |
| Tangible Book Value Per Share | -11.13 | -9.68 | 1.30 | -5.60 | -8.08 | -9.83 |
| Land | 8.70M | 9.20M | 54.40M | 54.30M | 54.90M | |
| Buildings | 135.40M | 140.90M | 317.20M | 312.30M | 312.90M | |
| Machinery | 555.90M | 475.00M | 877.20M | 809.80M | 706.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 651.90M | 579.20M | 832.90M | 865.80M | 755.20M | 608.40M |
| Depreciation & Amortization | 450.30M | 437.60M | 430.90M | 426.20M | 465.60M | 395.50M |
| Loss (Gain) From Sale of Investments | -57.00M | |||||
| Loss (Gain) on Equity Investments | 39.40M | 17.30M | 17.30M | |||
| Stock-Based Compensation | 86.00M | 116.80M | 90.10M | 94.50M | 93.80M | 77.40M |
| Other Operating Activities | 5.80M | -46.50M | -350.40M | -457.40M | 9.20M | 80.10M |
| Change in Accounts Receivable | -36.30M | 8.70M | -15.50M | -700.00K | -52.10M | -84.10M |
| Change in Inventory | -5.40M | -20.00M | -7.90M | 7.70M | -40.30M | -53.60M |
| Change in Accounts Payable | 6.20M | 12.40M | 51.10M | 2.20M | 81.30M | 73.40M |
| Change in Other Net Operating Assets | 68.00M | -2.60M | -17.30M | -38.60M | 35.30M | -6.20M |
| Operating Cash Flow | 1.20B | 1.08B | 1.53B | 1.35B | 1.30B | 961.10M |
| Capital Expenditures | -114.60M | -105.10M | -86.10M | -78.60M | -95.80M | -50.00M |
| Sale of Property, Plant & Equipment | 4.50M | |||||
| Cash Acquisitions | -83.80M | -25.70M | -3.60M | -95.80M | -12.80M | -2.57B |
| Divestitures | 9.60M | |||||
| Other Investing Activities | 7.10M | -4.60M | -1.71B | -21.00M | -3.50M | |
| Investing Cash Flow | -191.30M | -135.40M | -1.80B | -195.40M | -102.50M | -2.62B |
| Short-Term Debt Issued | 900.00K | 839.90M | 38.50M | 364.90M | ||
| Long-Term Debt Issued | 1.73B | 549.30M | 1.39B | 999.80M | ||
| Total Debt Issued | 1.44B | 900.00K | 1.73B | 1.39B | 1.43B | 1.36B |
| Short-Term Debt Repaid | -596.50M | |||||
| Long-Term Debt Repaid | -715.70M | -1.00B | -1.00B | -2.16B | -611.10M | |
| Total Debt Repaid | -1.19B | -715.70M | -1.60B | -1.00B | -2.16B | -611.10M |
| Net Debt Issued (Repaid) | 245.90M | -714.80M | 137.00M | 389.20M | -723.90M | 753.60M |
| Repurchase of Common Stock | -1.27B | -1.61B | -889.60M | -272.90M | -442.90M | |
| Preferred Dividends Paid | -34.50M | |||||
| Common Dividends Paid | -76.10M | -92.20M | -111.20M | -102.00M | -99.50M | -97.70M |
| Dividends Paid | -76.10M | -92.20M | -111.20M | -102.00M | -99.50M | -132.20M |
| Other Financing Activities | 31.50M | 1.03B | 71.10M | 18.00M | -6.70M | 30.60M |
| Financing Cash Flow | -1.07B | -1.39B | -792.70M | 32.30M | -1.27B | 652.00M |
| Foreign Exchange Rate Adjustments | 8.70M | 1.00M | -13.60M | -10.90M | -37.80M | -3.00M |
| Net Cash Flow | -53.50M | -437.80M | -1.08B | 1.18B | -110.10M | -1.01B |
| Free Cash Flow | 1.09B | 978.10M | 1.44B | 1.27B | 1.21B | 911.10M |
| Free Cash Flow Margin | 24.69% | 23.52% | 35.30% | 32.58% | 20.72% | 17.34% |
| Free Cash Flow Per Share | 3.49 | 2.92 | 4.08 | 3.58 | 3.35 | 2.59 |
| Levered Free Cash Flow | 982.92M | 855.86M | 875.09M | 772.86M | 1.13B | 776.92M |
| Unlevered Free Cash Flow | 1.07B | 931.17M | 970.59M | 850.05M | 1.19B | 841.42M |
| Cash Income Tax Paid | 100.00M | 100.00M | 114.00M | 122.00M | 148.00M | 103.00M |
| Change in Working Capital | -17.40M | -51.40M | -14.40M | -113.00M | -37.90M | -111.50M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 19.42B | 17.54B | 26.02B | 25.88B | 22.73B | 27.36B |
| Enterprise Value | 22.64B | 20.51B | 29.26B | 28.06B | 25.59B | 29.51B |
| Last Close Price | 65.23 | 55.03 | 56.06 | 54.81 | 47.63 | 56.30 |
| PE Ratio | 31.11 | 30.27 | 31.24 | 29.89 | 30.10 | 47.67 |
| Forward PE | 19.91 | 19.19 | 18.33 | 20.51 | 19.69 | 25.69 |
| PS Ratio | 4.42 | 4.22 | 6.38 | 6.61 | 3.90 | 5.21 |
| PB Ratio | 3.27 | 2.71 | 2.55 | 2.51 | 2.35 | 2.87 |
| P/TBV Ratio | 58.86 | |||||
| P/FCF Ratio | 17.89 | 17.93 | 18.06 | 20.30 | 18.83 | 30.02 |
| P/OCF Ratio | 16.18 | 16.19 | 17.04 | 19.12 | 17.44 | 28.46 |
| PEG Ratio | 2.83 | 1.71 | 3.16 | 1.74 | 2.12 | |
| EV/Sales Ratio | 5.15 | 4.93 | 7.17 | 7.17 | 4.39 | 5.62 |
| EV/EBITDA Ratio | 17.23 | 17.71 | 25.49 | 28.08 | 17.39 | 24.47 |
| EV/EBIT Ratio | 26.22 | 28.47 | 40.80 | 48.96 | 25.45 | 36.41 |
| EV/FCF Ratio | 20.86 | 20.97 | 20.31 | 22.01 | 21.20 | 32.39 |
| Debt / Equity Ratio | 0.60 | 0.51 | 0.37 | 0.37 | 0.35 | 0.43 |
| Debt / EBITDA Ratio | 2.67 | 2.78 | 3.22 | 3.69 | 2.24 | 3.27 |
| Debt / FCF Ratio | 3.32 | 3.38 | 2.64 | 2.99 | 2.83 | 4.55 |
| Net Debt / Equity Ratio | 0.54 | 0.45 | 0.29 | 0.19 | 0.28 | 0.35 |
| Net Debt / EBITDA Ratio | 2.45 | 2.53 | 2.61 | 1.92 | 1.84 | 2.76 |
| Net Debt / FCF Ratio | 2.97 | 3.00 | 2.08 | 1.51 | 2.25 | 3.65 |
| Asset Turnover | 0.38 | 0.29 | 0.24 | 0.24 | 0.36 | 0.32 |
| Inventory Turnover | 5.13 | 5.41 | 3.62 | 2.68 | 4.69 | 4.64 |
| Quick Ratio | 0.92 | 0.54 | 0.71 | 1.65 | 0.64 | 0.47 |
| Current Ratio | 1.23 | 0.71 | 1.16 | 2.05 | 0.91 | 0.68 |
| Return on Equity (ROE) | 10.55% | 6.40% | 4.70% | 4.08% | 7.86% | 6.64% |
| Return on Assets (ROA) | 4.61% | 3.13% | 2.64% | 2.18% | 3.89% | 3.12% |
| Return on Invested Capital (ROIC) | 8.32% | 5.65% | 5.37% | 4.39% | 6.89% | 6.31% |
| Return on Capital Employed (ROCE) | 8.50% | 7.60% | 4.90% | 3.80% | 7.60% | 6.40% |
| Earnings Yield | 3.21% | 3.30% | 3.20% | 3.35% | 3.32% | 2.22% |
| FCF Yield | 5.59% | 5.58% | 5.54% | 4.93% | 5.31% | 3.33% |
| Dividend Yield | 0.43% | 0.50% | 0.42% | 0.39% | 0.43% | 0.37% |
| Payout Ratio | 11.92% | 15.92% | 13.35% | 11.78% | 13.18% | 21.73% |
| Buyback Yield / Dilution | 9.10% | 5.16% | 0.79% | 1.44% | -2.41% | 1.87% |
| Total Shareholder Return | 9.53% | 5.66% | 1.21% | 1.83% | -1.98% | 2.23% |