Fortive Corp Stock Research

Market Summary

USD67.79+2.67

Delayedas of 26 May 2023, 12:24 pm

4.10%

FTV Stock Price

FTV RSI Chart

FTV Valuation

Market Cap

23.0B

Price/Earnings (Trailing)

30.14

Price/Sales (Trailing)

3.9

EV/EBITDA

20.64

Price/Free Cashflow

19.83

FTV Price/Sales (Trailing)

FTV Profitability

EBT Margin

14.99%

Return on Equity

7.8%

Return on Assets

4.75%

Free Cashflow Yield

5.04%

FTV Fundamentals

FTV Revenue

Revenue (TTM)

5.9B

Revenue Y/Y

6.12%

Revenue Q/Q

-4.52%

FTV Earnings

Earnings (TTM)

763.7M

Earnings Y/Y

5.15%

Earnings Q/Q

-23.59%

Price Action

52 Week Range

52.4769.78

(Low)(High)

Last 7 days

-1.2%

Last 30 days

-0.3%

Last 90 days

-2.8%

Trailing 12 Months

10.2%

FTV Financial Health

Current Ratio

0.91

Debt/Equity

0.37

Debt/Cashflow

0.37

FTV Investor Care

Dividend Yield

0.42%

Dividend/Share (TTM)

0.28

Buy Backs (1Y)

1.61%

Diluted EPS (TTM)

2.14

Peers (Alternatives to Fortive)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CAT	118.3B	61.7B	-3.96%	1.69%	17.64	1.99	17.14%	3.25%
ITW	67.4B	15.9B	-5.59%	11.40%	22.23	4.23	10.22%	12.62%
PCAR	38.3B	30.8B	-5.05%	-14.35%	12.71	1.33	27.62%	57.63%
FTV	23.0B	5.9B	-0.31%	10.24%	30.14	3.9	10.01%	15.14%
XYL	18.9B	5.7B	-3.92%	22.77%	53.13	3.42	9.35%	-16.86%
MID-CAP
DCI	7.7B	3.4B	0.06%	25.24%	21.59	2.26	10.23%	12.47%
MIDD	7.6B	4.0B	-1.84%	-3.77%	17.34	1.88	16.01%	-7.23%
ITT	7.0B	3.1B	-4.33%	14.25%	18.96	2.33	9.55%	28.63%
OSK	5.0B	8.6B	-4.02%	-18.13%	18.88	0.58	7.43%	-26.63%
FLS	4.4B	3.8B	3.22%	13.15%	23.32	1.22	7.69%	140.86%
MTOR	2.6B	-	0.61%	53.23%	10.31	0.6	-	-
ALG	2.1B	1.6B	-2.20%	51.66%	17.76	1.33	12.88%	43.76%
SMALL-CAP
EPAC	1.5B	585.1M	6.42%	29.17%	62.43	2.52	5.21%	-31.13%
LNN	1.3B	746.9M	-2.35%	-5.16%	16.53	1.75	9.53%	72.07%
HURC	141.2M	238.6M	-2.86%	-18.37%	23.45	0.59	-3.77%	-37.52%

Financials for Fortive

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.4%	5,910	5,826	5,671	5,516	5,372
Gross Profit	1.7%	3,420	3,363	3,265	3,165	3,087
S&GA Expenses	1.4%	1,984	1,957	1,956	1,921	1,892
R&D Expenses	0.2%	403	402	393	380	368
EBITDA	9.5%	1,055	964	918	1,241	-
EBITDA Margin	6.6%	0.18*	0.17*	0.17*	0.23*	-
Earnings Before Taxes	1.7%	889	874	792	750	750
EBT Margin	7.3%	0.15*	0.14*	0.14*	0.14*	-
Interest Expenses	13.5%	112	98.00	91.00	90.00	94.00
Net Income	1.1%	764	755	693	655	663
Net Income Margin	6.1%	0.13*	0.12*	0.12*	0.12*	-
Free Cahsflow	17.0%	1,207	1,032	976	971	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-0.5%	15,805	15,891	15,893	16,071	16,266
Current Assets	-0.9%	2,455	2,477	2,448	2,445	2,448
Cash Equivalents	-5.1%	673	709	705	683	684
Inventory	6.2%	570	537	561	548	553
Net PPE	0.9%	426	422	405	408	413
Goodwill	0.1%	9,057	9,049	8,978	9,058	9,133
Current Liabilities	-3.6%	2,630	2,727	2,592	2,611	2,562
Long Term Debt	-3.3%	3,559	3,682	3,739	-	-
LT Debt, Current	0.0%	1,000	1,000	1,000	1,000	1,000
LT Debt, Non Current	-7.0%	2,095	2,252	2,559	2,682	2,739
Shareholder's Equity	1.9%	9,870	9,683	9,391	9,444	9,561
Retained Earnings	2.2%	6,891	6,742	6,540	6,375	6,226
Additional Paid-In Capital	0.7%	3,731	3,706	3,677	3,651	3,619
Accumulated Depreciation	2.4%	773	755	741	733	723
Shares Outstanding	0.2%	354	353	354	356	359
Minority Interest	11.5%	6.00	5.00	5.00	5.00	5.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	-3.1%	1,263	1,303	1,114	1,046	1,031
Share Based Compensation	7.2%	101	94.00	90.00	86.00	81.00
Cashflow From Investing	-6.7%	-109	-102	-1,500	-2,639	-2,624
Cashflow From Financing	11.4%	-1,127	-1,273	299	737	974
Dividend Payments	-0.4%	99.00	100	100	100	99.00
Buy Backs	-14.4%	379	443	376	243	64.00

Risks for FTV

What is the probability of a big loss on FTV?

63.9%

Probability that Fortive stock will be more than 20% underwater in next one year

28.1%

Probability that Fortive stock will be more than 30% underwater in next one year.

18.1%

Probability that Fortive stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does FTV drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Fortive was unfortunately bought at previous high price.

Drawdowns

Returns for FTV

Cumulative Returns on FTV

0.8%

5-Year Cumulative Returns

10.1%

3-Year Cumulative Returns

What are the long-term rolling returns for FTV?

FIve years rolling returns for Fortive.

Annualized Returns

Which funds bought or sold FTV recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	Brookfield Corp /ON/	new	-	8,158,450	8,158,450	0.03%
2023-05-23	MOUNTAIN PACIFIC INVESTMENT ADVISERS INC/ID	reduced	-1.2	900,236	19,553,700	1.39%
2023-05-23	Front Row Advisors LLC	added	60.34	6,000	13,000	0.01%
2023-05-23	Toroso Investments, LLC	added	104	734,000	1,360,000	0.02%
2023-05-22	AMERIPRISE FINANCIAL INC	added	136	49,761,000	82,839,000	0.03%
2023-05-22	PUTNAM INVESTMENTS LLC	added	3.01	12,579,000	147,879,000	0.24%
2023-05-18	JPMORGAN CHASE & CO	added	23.5	11,865,500	50,096,500	0.01%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-4.78	374,000	36,852,000	0.05%
2023-05-17	Sunbelt Securities, Inc.	new	-	12,323	12,323	-%
2023-05-17	Advisory Services Network, LLC	reduced	-6.35	-149	23,111	-%

Latest Funds Activity

Are funds buying FTV calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own FTV

No. of Funds

Fortive News

Schedule 13G FIlings of Fortive

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
May 10, 2023	t. rowe price investment management, inc.	10.2%	36,069,220	SC 13G/A
Feb 14, 2023	t. rowe price investment management, inc.	9.5%	33,770,658	SC 13G/A
Feb 09, 2023	vanguard group inc	11.14%	39,402,796	SC 13G/A
Feb 07, 2023	blackrock inc.	8.6%	30,542,592	SC 13G/A
Feb 06, 2023	wellington management group llp	5.12%	18,122,141	SC 13G/A
Jun 10, 2022	price t rowe associates inc /md/	11.0%	39,651,041	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	5.5%	19,758,392	SC 13G/A
Feb 04, 2022	wellington management group llp	6.19%	22,204,547	SC 13G/A
Feb 03, 2022	blackrock inc.	9.3%	33,420,429	SC 13G/A
Apr 12, 2021	vanguard group inc	10.05%	33,965,479	SC 13G/A

FTV Fair Value

Fortive fair value in different scenarios

The table shows the Fair Value estimates for Fortive for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	21.09 -68.89%	28.41 -58.09%	41.28 -39.11%	60.70 -10.46%	73.60 8.57%
Current Inflation	20.03 -70.45%	26.61 -60.75%	37.14 -45.21%	53.48 -21.11%	64.32 -5.12%
Very High Inflation	18.66 -72.47%	24.33 -64.11%	32.17 -52.54%	45.06 -33.53%	53.57 -20.98%

Historical Fortive Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Fortive

View All Filings

Date Filed	Form Type	Document
May 16, 2023	4	Insider Trading
May 10, 2023	SC 13G/A	Major Ownership Report
Apr 26, 2023	10-Q	Quarterly Report
Apr 26, 2023	8-K	Current Report
Apr 24, 2023	ARS	ARS
Apr 24, 2023	DEF 14A	DEF 14A
Apr 24, 2023	DEFA14A	DEFA14A
Apr 04, 2023	4	Insider Trading
Apr 04, 2023	4	Insider Trading
Apr 04, 2023	4	Insider Trading

Latest Insider Trading transactions for FTV

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-15	Newcombe Tamara S.	sold (taxes)	-38,351	65.67	-584	president & ceo of pt
2023-02-28	Mulhall Christopher M.	sold (taxes)	-21,664	66.66	-325	vp - chief accounting officer
2023-02-28	Mulhall Christopher M.	sold (taxes)	-5,666	66.66	-85.00	vp - chief accounting officer
2023-02-27	LICO JAMES A	acquired	-	-	56,683	president and ceo
2023-02-27	Walker Stacey A.	sold	-220,120	67.75	-3,249	svp - human resources
2023-02-27	Walker Stacey A.	acquired	-	-	10,713	svp - human resources
2023-02-27	Underwood Peter C	acquired	-	-	9,137	svp - general counsel
2023-02-27	Mulhall Christopher M.	acquired	-	-	5,885	vp - chief accounting officer
2023-02-27	Newcombe Tamara S.	acquired	-	-	14,705	president & ceo of pt
2023-02-27	Mulhall Christopher M.	acquired	-	-	2,206	vp - chief accounting officer

About Fortive

James A. Lico

www.fortive.com

18000

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others. It markets its products and services under the ACCRUENT, FLUKE, GORDIAN, INDUSTRIAL SCIENTIFIC, INTELEX, PRUFTECHNIK, and SERVICECHANNEL brands. The company's Precision Technologies segment provides electrical test and measurement instruments and services; energetic material devices; and sensor and control system solutions for power and energy, medical equipment, food and beverage, aerospace and defense, off-highway vehicles, electronics, semiconductors, and other general industrial markets. This segment markets its products under the ANDERSON-NEGELE, GEMS, SETRA, HENGSTLER-DYNAPAR, QUALITROL, PACIFIC SCIENTIFIC, KEITHLEY, and TEKTRONIX brands. Its Advanced Healthcare Solutions segment offers hardware and software products and services, including instrument and device reprocessing, instrument tracking, biomedical test tools, radiation safety monitoring, and asset management services; subscription-based surgical inventory management systems to facilitate inventory management and regulatory compliance, as well as technical, analytical, and compliance services to determine radiation exposure services under the ASP, CENSIS, CENSITRAC, EVOTECH, FLUKE BIOMEDICAL, INVETECH, LANDAUER, RAYSAFE, and STERRAD brands. Fortive Corporation was incorporated in 2015 and is headquartered in Everett, Washington.

FTV Income Statement

2023-03-31

Consolidated Condensed Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Apr. 01, 2022
Total sales	$ 1,460.7	$ 1,376.5
Total cost of sales	(612.5)	(584.5)
Gross profit	848.2	792.0
Operating costs:
Selling, general and administrative expenses	(507.7)	(480.6)
Research and development expenses	(100.1)	(99.1)
Operating profit	240.4	212.3
Non-operating income (expense), net:
Interest expense, net	(32.1)	(18.8)
Other non-operating expense, net	(2.5)	(2.7)
Earnings before income taxes	205.8	190.8
Income taxes	(32.2)	(25.7)
Net earnings	$ 173.6	$ 165.1
Net earnings per share:
Basic (in dollars per share)	$ 0.49	$ 0.46
Diluted (in dollars per share)	$ 0.49	$ 0.45
Average common stock and common equivalent shares outstanding:
Basic (in shares)	353.6	359.3
Diluted (in shares)	356.5	368.4
Sales of products and software
Total sales	$ 1,236.6	$ 1,152.7
Total cost of sales	(488.1)	(465.1)
Sales of services
Total sales	224.1	223.8
Total cost of sales	$ (124.4)	$ (119.4)

FTV Balance Sheet

2023-03-31

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and equivalents	$ 672.8	$ 709.2
Trade accounts receivable less allowance for doubtful accounts of $41.2 at March 31, 2023 and $43.9 at December 31, 2022	940.7	958.5
Inventories:
Finished goods	234.8	215.3
Work in process	103.6	96.4
Raw materials	231.8	225.0
Inventories	570.2	536.7
Prepaid expenses and other current assets	271.6	272.6
Total current assets	2,455.3	2,477.0
Property, plant and equipment, net of accumulated depreciation of $772.7 at March 31, 2023 and $754.5 at December 31, 2022	425.6	421.9
Other assets	470.0	455.8
Goodwill	9,057.1	9,048.5
Other intangible assets, net	3,396.8	3,487.4
Total assets	15,804.8	15,890.6
Current liabilities:
Current portion of long-term debt	999.8	999.7
Trade accounts payable	593.0	623.0
Accrued expenses and other current liabilities	1,037.3	1,104.4
Total current liabilities	2,630.1	2,727.1
Other long-term liabilities	1,204.4	1,223.3
Long-term debt	2,094.6	2,251.6
Commitments and Contingencies (Note 8)
Equity:
Common stock: $0.01 par value, 2.0 billion shares authorized; 362.2 million issued and 353.5 million outstanding at March 31, 2023; 361.5 million issued and 352.9 million outstanding at December 31, 2022	3.6	3.6
Additional paid-in capital	3,730.5	3,706.3
Treasury shares, at cost	(442.9)	(442.9)
Retained earnings	6,891.0	6,742.1
Accumulated other comprehensive loss	(312.3)	(325.7)
Total Fortive stockholders’ equity	9,869.9	9,683.4
Noncontrolling interests	5.8	5.2
Total stockholders’ equity	9,875.7	9,688.6
Total liabilities and equity	$ 15,804.8	$ 15,890.6