— Know what they know.
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Not Investment Advice

FTV

NYSE · USD
Fortive Corporation
Technology · Hardware, Equipment & Parts
CEO Olumide O. Soroye Employees 10,000 R&D / revenue 6.7%
Last price
$57.79+0.02%last session
Market cap
$17.5B
P/E (TTM)
33.6x
From 52w high
−10.5%
From 52w low
+19.7%
1-year return
+18.8%
RSI 14 · vs SMA200
54.8 · −1.0%
IS score
45.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

FTV   SPY   XLK (sector ETF) · weekly closes
90100110120130140Jan 26Apr 26Jul 26Oct 26XLK 129FTV 119SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
51
Profitability
1
Growth
45
Value
40
Momentum
80
Risk (safety)
74
Quality
52
Balance sheet
78
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for FTV (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 6 / 9Altman Z 3.4Beta 0.973 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
2 open-market sales, $3.4M
Form 144 notices (12m): 10, $9.2M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-07-07
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+29
95 new holders, 57 closed
809 filers hold 109.0% · 251 added, 310 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+206
1,015 funds adding shares
809 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
70.4%
20-day avg 63.7%, 50-day avg 65.3%
Latest 6.7 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$5.1B
Revenue growth YoY−17.5%
Gross margin61.0%
Operating income$908.9M
Operating margin17.7%
Net income$579.2M
Net margin11.3%
EPS (diluted)$1.74
Cash flow
Operating cash flow$1.1B
Capital expenditure$105.1M
Free cash flow$978.1M
FCF conversion (FCF / OCF)90.3%
Stock-based compensation$116.8M
FCF less SBC$861.3M
Buybacks$1.6B
Dividends$92.2M
Balance sheet & returns
Cash & short-term investments$375.5M
Total debt$3.2B
Net debt$2.8B
Shareholders' equity$6.5B
Goodwill & intangibles$9.5B
Debt / equity0.58
ROE (TTM)8.5%
ROIC (TTM)6.8%
Operating margin by fiscal year
15.5%FY202117.3%FY202219.0%FY202318.4%FY202417.7%FY2025
Revenue $5.3B (FY2021) to $5.1B (FY2025), a -0.5% CAGR.

Valuation

P/E (TTM)33.6x
EV / EBITDA17.4x
Price / sales4.04x
Price / FCF18.3x
FCF yield5.47%
Buyback yield9.23%
SBC / revenue2.5%
Price / book2.90x
Forward P/E FY202619.2x
Forward P/E FY202717.8x
Forward P/E FY202816.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $63.00 across 1 analysts last quarter is theirs, not ours.

FTV vs industry median

183 companies in Hardware, Equipment & Parts
Gross margin 63.2% 35.9% Operating margin 18.2% 4.0% Net margin 12.4% 1.9% ROIC 6.8% 7.1%
FTV (TTM)Industry median Asset turnover 0.37 vs industry 0.67 · financial leverage 1.92

Earnings delivery

Next report 2026-10-28 · consensus EPS $0.70
83%
beat rate, 10 of 12 quarters
+4.6%
median EPS surprise
6
longest beat streak
-1+5+4+1+4+4+33-1+20+7+9+5
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-25 to 2026-07-29. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
FTV Fortive Corporation $17.5B33.6x8.5%12.4%−17.5% +18.8%
MKSI MKS Inc. $14.5B32.8x15.9%14.0%+16.3% +56.2%
TRMB Trimble Inc. $13.9Bn/m-1.9%-48.5%+5.8% −23.6%
FN Fabrinet $13.0B27.5x21.3%10.8%+35.7% −11.9%
TDY Teledyne Technologies Incorp $28.7B29.8x9.2%15.1%+7.9% +10.1%
JBL Jabil Inc. $29.2B28.2x66.7%3.7%+20.6% —
TTMI TTM Technologies, Inc. $9.9B41.2x13.3%8.3%+27.6% —
LFUS Littelfuse, Inc. $9.7Bn/m-0.3%12.1%+15.4% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-09-10Officer/Director Change
2026-07-29Earnings Release; Exhibits
2026-06-11Shareholder Vote
2026-05-14Material Agreement; Financial Obligation; Other Events; Exhibits
2026-04-30Earnings Release; Exhibits
2026-02-04Results of Operations and Financial Condition; Financial Statements and Exhibits

Context

Shares outstanding302,017,052
Free float93.0%
Institutional ownership109.0%
Beta0.97
Dividend yield0.54%
Last dividend$0.07 on 2026-09-04
50 / 200-day average$57.77 / $58.37
Large-cap Technology median P/E34.8x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where FTV sits among 41 scored companies in Hardware, Equipment & Parts (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureFTVIndustry medianIndustry percentileSector median
P/E (TTM) 32.7x 36.2x
36th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 4.0x 3.4x
60th		 3.9x
Price / book 2.9x 3.7x
40th		 4.4x
Price / tangible book —
Price / free cash flow 18.3x 25.4x
22nd		 20.3x
Price / operating cash flow 16.6x 24.7x
27th		 17.9x
Enterprise value $20.6B $7.9B
78th		 $5.5B
EV / sales 4.8x 3.7x
70th		 4.1x
EV / EBITDA 17.4x 19.1x
33rd		 18.9x
EV / EBIT 25.9x 26.4x
47th		 26.7x
EV / free cash flow 21.6x 27.7x
38th		 21.9x
Earnings yield 3.1% 2.4%
70th		 2.0%
FCF yield 5.5% 3.0%
82nd		 3.3%
Operating cash flow yield 6.0% 3.6%
75th		 4.4%
Graham number (per share) $27.75 $54.04
24th		 $28.08

Profitability (TTM)

MeasureFTVIndustry medianIndustry percentileSector median
Gross margin 63.2% 39.0%
90th		 55.7%
EBITDA margin 27.5% 15.0%
90th		 13.7%
Operating margin 18.2% 12.6%
80th		 8.2%
EBIT margin 18.4% 12.3%
82nd		 8.6%
Net margin 12.4% 8.1%
80th		 5.7%
NOPAT margin 16.3% 10.0%
88th		 7.0%
FCF margin 22.1% 10.8%
92nd		 15.0%
Operating cash flow margin 24.4% 13.4%
90th		 18.4%
R&D / revenue 6.1% 4.4%
62nd		 12.9%
SG&A / revenue 38.9% 17.1%
95th		 25.6%
Stock comp / revenue 2.5% 1.3%
67th		 4.4%
Effective tax rate 10.4% 20.5%
15th		 21.0%

Returns on capital

MeasureFTVIndustry medianIndustry percentileSector median
ROE (on average equity) 6.5% 11.5%
32nd		 9.4%
ROA 3.6% 5.5%
32nd		 4.1%
ROIC 7.7% 11.9%
30th		 9.0%
ROCE 7.7% 9.9%
32nd		 8.6%
Return on tangible assets 5.3% 8.0%
30th		 5.9%
Cash ROIC (OCF / invested capital) 11.4% 14.6%
30th		 20.7%
Gross profitability (GP / assets) 23.5% 22.4%
60th		 30.0%
ROIC, 3-yr average 6.2% 10.9%
31st		 7.4%
ROIC, 5-yr average 6.3% 10.1%
31st		 7.9%
ROE, 5-yr average 7.9% 9.8%
31st		 6.9%
Incremental ROIC -0.3% 12.5%
36th		 15.3%

Growth

MeasureFTVIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -29.8% 15.9%
0th		 14.3%
Revenue growth (QoQ) 2.6% 8.9%
10th		 6.6%
Revenue CAGR, 3 yr -10.3% 4.2%
0th		 9.6%
Revenue CAGR, 5 yr -3.1% 6.7%
3rd		 11.5%
Gross profit CAGR, 3 yr -7.9% 5.8%
0th		 10.9%
Operating income CAGR, 3 yr -10.4% 10.3%
12th		 11.3%
Net income growth (TTM YoY) -30.5% 38.3%
0th		 21.6%
Net income CAGR, 3 yr -12.6% 7.3%
10th		 9.9%
EPS growth (TTM YoY) -22.8% 19.7%
0th		 22.3%
EPS CAGR, 3 yr -8.3% 9.0%
14th		 11.2%
EPS CAGR, 5 yr -19.2% 9.9%
6th		 12.0%
FCF growth (TTM YoY) -31.1% 25.7%
16th		 24.6%
FCF CAGR, 3 yr -6.9% 12.6%
7th		 19.3%
Operating cash flow CAGR, 3 yr -6.6% 10.1%
12th		 17.9%
Book value CAGR, 3 yr -11.1% 7.1%
3rd		 6.8%
Dividend CAGR, 3 yr -15.8% -0.6%
11th		 3.1%
Sustainable growth rate 5.8% 12.6%
18th		 14.2%

Margin history & stability

MeasureFTVIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 60.9% 36.4%
89th		 53.2%
Operating margin, 3-yr average 18.4% 11.2%
87th		 6.6%
Net margin, 3-yr average 13.1% 6.4%
79th		 5.2%
FCF margin, 3-yr average 22.0% 11.4%
95th		 12.7%
Revenue stability (0-1) 0.02 0.57
5th		 0.87
Earnings stability (0-1) 0.48 0.41
63rd		 0.45
Margin stability (0-1) 0.96 0.94
82nd		 0.95

Liquidity (latest quarter)

MeasureFTVIndustry medianIndustry percentileSector median
Cash & short-term investments $374.2M $403.3M
48th		 $494.1M
Net cash (− = net debt) −$3.1B −$55.9M
8th		 $49.8M
Working capital $310.5M $789.7M
25th		 $391.0M
Current ratio 1.24 2.29
10th		 1.92
Quick ratio 1.00 1.65
22nd		 1.67
Cash ratio (cash + ST investments / current liabilities) 0.29 0.67
22nd		 0.95
Defensive interval (days) 194 days 789 days
2nd		 521 days

Leverage & solvency (latest quarter)

MeasureFTVIndustry medianIndustry percentileSector median
Total debt $3.5B $299.3M
85th		 $349.3M
Debt / equity 0.58 0.25
72nd		 0.29
Net debt / equity 0.52 0.02
78th		 −0.13
Debt / assets 30.2% 13.4%
82nd		 16.9%
Debt / capital 36.7% 19.9%
72nd		 22.3%
Debt / EBITDA 2.96 1.78
78th		 1.78
Net debt / EBITDA 2.64 0.18
89th		 −0.18
Interest coverage (EBIT / interest) 6.4x 7.1x
47th		 5.8x
Cash interest coverage 8.5x 10.3x
38th		 12.8x
Debt payback (years of OCF) 3.3 yrs 1.8 yrs
76th		 1.6 yrs
Liabilities / assets 47.8% 40.2%
60th		 48.7%
IS credit model rating BBB+ — —
Implied credit spread (bps) 225 125
70th		 175

Efficiency

MeasureFTVIndustry medianIndustry percentileSector median
Asset turnover 0.29 0.60
5th		 0.62
Fixed asset turnover 15.40 6.18
95th		 9.25
Inventory turnover 3.4 3.4
54th		 3.8
Receivables turnover 5.5 5.9
35th		 6.2
Days sales outstanding 66 days 62 days
65th		 59 days
Days inventory outstanding 106 days 108 days
46th		 94 days
Days payables outstanding 130 days 60 days
100th		 46 days
Cash conversion cycle (days) 43 days 108 days
10th		 50 days
Capex / revenue 2.2% 2.6%
36th		 2.3%
Capex / depreciation 0.25 0.77
0th		 0.56
Operating expense ratio 44.3% 25.2%
90th		 44.3%

Cash flow & earnings quality

MeasureFTVIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.97 1.38
79th		 1.61
FCF / net income 1.79 1.13
82nd		 1.33
FCF / operating cash flow 90.8% 80.2%
92nd		 88.0%
Capex / operating cash flow 9.2% 19.8%
8th		 12.0%
Accruals ratio -3.5% -3.4%
45th		 -6.3%
Sloan accruals ratio -0.1% 1.3%
45th		 -1.8%
Earnings quality score (0-1) 1.00 1.00
36th		 0.75

Dividends & buybacks

MeasureFTVIndustry medianIndustry percentileSector median
Dividend yield 0.5% 0.0%
78th		 0.0%
Dividend per share (TTM) $0.31 $0.00
70th		 $0.00
Payout ratio (dividends / net income) 10.6% 0.0%
78th		 0.0%
Dividends / FCF 5.9% 2.0%
72nd		 0.0%
Dividend growth (YoY) -42.7% -1.2%
11th		 4.1%
Buyback yield 7.5% 0.2%
95th		 1.2%
Shareholder yield (dividends + buybacks) 7.8% 0.9%
95th		 1.7%
Share count change (YoY) -10.0% 0.2%
0th		 0.1%
Buybacks, last 5 years $4.3B $171.0M
95th		 $215.3M

Scores & forensic checks

MeasureFTVIndustry medianIndustry percentileSector median
IS score 45 61
15th		 56
IS profitability 51 44
72nd		 40
IS growth 1 67
0th		 65
IS value 45 39
72nd		 39
IS momentum 40 81
3rd		 78
IS risk (safety) 80 100
18th		 100
IS quality 74 71
65th		 67
IS balance sheet 52 72
18th		 72
IS earnings quality 78 70
98th		 61
IS cash flow 59 61
45th		 66
Piotroski F-score (0-9) 6 6
22nd		 6
Altman Z-score 3.4 6.7
22nd		 4.0
Beneish M-score −3.15 −2.50
3rd		 −2.58
Ohlson O-score −8.21 −8.21
50th		 −8.00
IS credit score 63 77
25th		 69

Per share

MeasureFTVIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $1.74 $2.41
40th		 $0.84
Book value per share $19.70 $25.00
38th		 $9.77
Tangible book per share −$10.85 $10.81
2nd		 $3.22
Revenue per share $14.03 $31.39
20th		 $13.00
FCF per share $3.10 $2.86
55th		 $1.78
Operating cash flow per share $3.42 $4.66
40th		 $2.40
Cash per share $1.22 $7.59
8th		 $4.50

Size (TTM)

MeasureFTVIndustry medianIndustry percentileSector median
Market cap $17.5B $6.5B
78th		 $4.7B
Revenue $4.3B $2.3B
68th		 $1.2B
EBITDA $1.2B $300.6M
78th		 $185.8M
Net income $534.4M $174.8M
78th		 $84.9M
Free cash flow $954.9M $180.0M
82nd		 $170.6M
Total assets $11.6B $3.6B
82nd		 $2.4B
Shareholders' equity $6.1B $1.6B
85th		 $1.1B
Employees 10,000 7,806
52nd		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-25Soroye Olumide
Director, President & CEO
 Award / grant 15——11,968
2026-09-25Okerstrom Mark D
SVP - Chief Financial Officer
 Award / grant 5——3,915
2026-09-25Mulhall Christopher M.
VP - Chief Accounting Officer
 Award / grant 8——6,428
2026-09-25Mulhall Christopher M.
VP - Chief Accounting Officer
 Award / grant 2——1,710
2026-09-25Underwood Peter C
SVP - Chief Legal Officer
 Award / grant 17——13,954
2026-09-25Lassiter Wright Iii
Director
 L-Small 5$55.91$30025,766
2026-09-25Desjourdy Amee
SVP - Chief People Officer
 Award / grant 1——1,066
2026-08-10Underwood Peter C
SVP - Chief Legal Officer
 Open-market sale 8,662$61.59$533,49379,118
2026-07-24Okerstrom Mark D
SVP - Chief Financial Officer
 Award / grant 20——3,910
2026-07-10Okerstrom Mark D
SVP - Chief Financial Officer
 Award / grant 20——3,889
2026-07-06Okerstrom Mark D
SVP - Chief Financial Officer
 Award / grant 4——3,869
2026-07-06Soroye Olumide
Director, President & CEO
 Award / grant 11——11,953

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired3137,673$442,671
L-SmallAcquired210$557
Open-market saleDisposed256,219$3.4M
Option exerciseAcquired147,557$1.4M
Option exerciseDisposed147,557$1.4M
Tax withholdingDisposed13,777$236,629
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 10 notices · 161,360 shares · $9.2M
FiledFilerShares proposedEst. proceeds
2026-08-10Underwood Peter C8,662$533,493
2026-06-18Branderiz Eric15,897$981,825
2026-05-04Underwood Peter C47,557$2.9M
2026-03-23Schwarz Jonathan L1,692$95,133
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 1 trades (1 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-07-07Ro KhannaHousePurchase$1,001 - $15,0002026-08-12
2025-09-30Gilbert CisnerosHouseSale$15,001 - $50,0002025-10-13
2025-09-29Gilbert Ray CisnerosHouseSale (Full)$15,001 - $50,0002025-10-10
2025-09-29Ro KhannaHousePurchase$1,001 - $15,0002025-10-03
2020-10-09Sheldon WhitehouseSenateExchange$1,001 - $15,0002021-08-06
2020-10-09Sheldon WhitehouseSenateExchange$1,001 - $15,0002021-08-05
2020-10-09Sheldon WhitehouseSenateExchange$1,001 - $15,0002020-11-19
2020-10-09Sheldon WhitehouseSenateExchange$1,001 - $15,0002020-11-18
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
DODGE & COX43,979,772$2.7B14.56%
BlackRock, Inc.26,624,052$1.6B8.82%
PRICE T ROWE ASSOCIATES INC /MD/24,384,055$1.5B8.07%
VANGUARD CAPITAL MANAGEMENT LLC19,936,606$1.2B6.60%
STATE STREET CORP13,620,472$832.9M4.51%
VANGUARD PORTFOLIO MANAGEMENT LLC12,793,060$781.5M4.24%
FLOSSBACH VON STORCH SE12,107,839$739.7M4.01%
GEODE CAPITAL MANAGEMENT, LLC9,146,341$556.8M3.03%
Invesco Ltd.8,899,584$543.7M2.95%
BARROW HANLEY MEWHINNEY & STRAUSS LLC8,635,231$527.5M2.86%
NORGES BANK7,339,514$448.4M2.43%
GOLDMAN SACHS GROUP INC4,259,072$260.2M1.41%
UBS Group AG4,251,552$259.7M1.41%
NORDEA INVESTMENT MANAGEMENT AB4,169,025$253.9M1.38%
BARCLAYS PLC3,693,082$225.6M1.22%

Institutional ownership by quarter

2023-092026-06109.0%
% of shares held by 13F filers
2023-092026-06809
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-30809109.0%9525131057
2026-03-31780105.8%9425426180
2025-12-31780107.8%13521429569
2025-09-30730103.8%76214308127
2025-06-30792108.1%89288298121
2025-03-31837147.3%9126233984
2024-12-31844144.5%10626231482
2024-09-30838142.8%9129030974
2024-06-30829144.6%7232827991
2024-03-31860145.2%10728929448
2023-12-31810145.7%11226228556
2023-09-30767148.8%8125526150

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-15SCHEDULE 13G/AT. Rowe Price Associates, Inc.7.7%23,751,512
2026-05-15SCHEDULE 13G/AShabet Rose Sharon7.1%22,479,388
2026-04-29SCHEDULE 13GVanguard Capital Management7.6%23,387,301
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.02%$524.4M
VTSAX0.02%$524.4M
VTI0.02%$524.4M
VSMPX0.02%$524.4M
VFINX0.03%$434.8M
VOO0.03%$434.8M

Share structure

Shares outstanding302,017,052
Float280,954,383
Free float93.0%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$5.3B$5.8B$6.1B$6.2B$5.1B
Cost of revenue$2.2B$2.5B$2.5B$2.5B$2.0B
Gross profit$3.0B$3.4B$3.6B$3.7B$3.1B
R&D$354.8M$401.5M$397.8M$414.0M$342.3M
SG&A$1.8B$2.0B$2.1B$2.1B$1.9B
Operating income$831.5M$1.0B$1.1B$1.2B$908.9M
EBITDA$1.2B$1.4B$1.6B$1.7B$1.2B
Pretax income$677.5M$873.5M$990.8M$969.6M$753.9M
Income tax$63.3M$118.3M$125.0M$136.7M$112.7M
Net income$608.4M$755.2M$865.8M$832.9M$579.2M
EPS, diluted$1.63$2.09$2.43$2.36$1.74
Diluted shares352.3M360.8M355.6M352.8M319.4M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$819.3M$709.2M$1.9B$813.3M$375.5M
Receivables$930.2M$958.5M$960.8M$945.4M$683.6M
Inventory$512.7M$536.7M$536.9M$544.8M$291.8M
Total current assets$2.5B$2.5B$3.7B$2.6B$1.6B
PP&E, net$395.5M$421.9M$439.8M$433.1M$269.8M
Goodwill & intangibles$13.0B$12.5B$12.3B$13.5B$9.5B
Total assets$16.5B$15.9B$16.9B$17.0B$11.7B
Accounts payable$557.9M$623.0M$608.6M$677.4M$436.4M
Total current liabilities$3.7B$2.7B$1.8B$2.2B$2.2B
Long-term debt$1.8B$2.3B$3.6B$3.3B$2.3B
Total liabilities$6.9B$6.2B$6.6B$6.8B$5.3B
Shareholders' equity$9.5B$9.7B$10.3B$10.2B$6.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$614.2M$755.2M$865.8M$832.9M$579.2M
Depreciation & amortization$395.5M$465.6M$456.8M$543.9M$437.6M
Stock-based compensation$77.4M$93.8M$113.3M$109.2M$116.8M
Change in working capital−$111.5M−$20.6M$21.8M$103.9M−$399.9M
Operating cash flow$961.1M$1.3B$1.4B$1.5B$1.1B
Capital expenditure−$50.0M−$95.8M−$107.8M−$120.4M−$105.1M
Free cash flow$911.1M$1.2B$1.2B$1.4B$978.1M
Investing cash flow−$2.6B−$102.5M−$195.4M−$1.8B−$135.4M
Net debt issued / repaid$753.6M−$723.9M$389.2M$137.0M−$714.8M
Buybacks$0−$442.9M−$272.9M−$889.6M−$1.6B
Dividends paid−$132.2M−$99.5M−$102.0M−$111.2M−$92.2M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin57.2%57.7%59.3%59.9%61.0%
Operating margin15.5%17.3%19.0%18.4%17.7%
Net margin11.6%13.0%14.3%13.4%11.3%
FCF margin17.3%20.7%20.5%22.6%19.0%
ROE6.6%7.9%8.7%8.1%7.0%
ROIC5.7%7.0%8.2%7.4%8.8%
ROA3.7%4.7%5.3%4.9%4.0%
Debt / equity0.440.350.370.380.50
Interest coverage7.6x9.9x9.0x7.3x7.0x
Current ratio0.680.912.051.160.71
Revenue growth+13.4%+10.9%+4.1%+2.7%−17.5%
EPS growth−62.5%+26.3%+15.4%−2.0%−24.2%
P/E at year end33.7x22.6x22.5x23.5x30.4x
EV / EBITDA at year end20.3x13.7x13.6x13.6x15.9x
FCF yield at year end4.44%7.08%6.39%7.18%5.55%
Dividend payout21.7%13.2%11.8%13.4%15.9%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Intelligent Operating Solutions$2.2B$2.5B$2.6B$2.7B$2.9B
Precision Technologies$1.8B$2.0B$2.1B$2.2B—
Advanced Healthcare Solutions$1.2B$1.3B$1.3B$1.3B$1.3B

Revenue by region · FY2024

UNITED STATES$3.4B · 54%
Countries Excluding United States and China$2.2B · 35%
CHINA$648.2M · 10%

Street estimates by fiscal year

Next report 2026-10-28 · consensus EPS $0.70 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$4.4B$4.3B – $4.4B$3.01$2.94 – $3.041019.2x
2027$4.5B$4.5B – $4.6B$3.25$3.18 – $3.31917.8x
2028$4.7B$4.6B – $4.7B$3.49$3.37 – $3.68416.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-29$0.71$0.74+4.7%$1.1B$1.1B+2.6%
2026-04-30$0.64$0.70+8.9%$1.0B$1.1B+3.0%
2026-02-04$0.84$0.90+7.4%$1.1B$1.1B+2.6%
2025-10-29$0.57$0.68+19.5%$1.0B$1.0B+1.9%
2025-07-30$0.58$0.58−0.9%$1.0B$1.5B+49.9%
2025-05-01$0.64$0.85+32.6%$1.5B$1.5B−1.2%
2025-02-07$1.12$1.17+4.5%$1.6B$1.6B−0.5%
2024-10-30$0.93$0.97+4.2%$1.6B$1.5B−1.2%
2024-07-24$0.92$0.93+1.2%$1.6B$1.6B−0.8%
2024-04-24$0.80$0.83+4.1%$1.5B$1.5B−0.2%
2024-01-31$0.93$0.98+5.4%$1.6B$947.5M−39.4%
2023-10-25$0.86$0.85−1.2%$1.5B$1.5B−1.6%
2023-07-26$0.81$0.85+4.9%$1.5B$1.5B+1.2%
2023-04-26$0.73$0.75+2.7%$1.4B$1.5B+2.7%
2023-02-01$0.84$0.88+4.8%$1.5B$1.5B+1.9%
2022-10-26$0.76$0.79+3.9%$1.4B$1.5B+0.9%
2022-07-28$0.72$0.78+8.3%$1.4B$1.5B+4.3%
2022-04-28$0.68$0.70+2.9%$1.3B$1.4B+2.2%
2022-02-03$0.78$0.79+1.3%$1.4B$1.4B−4.4%
2021-10-28$0.65$0.66+1.5%$1.3B$1.3B−1.4%
2021-07-29$0.61$0.66+8.2%$1.3B$1.3B0.0%
2021-04-29$0.60$0.63+5.0%$1.2B$1.3B+3.3%
2021-02-04$0.61$0.70+14.8%$1.3B$1.3B+2.9%
2020-10-27$0.88$0.94+6.8%$1.7B$1.9B+8.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.206-150.206-220.106-290.207-060.207-130.207-200.407-270.208-030.108-100.108-170.108-240.208-31
Week ofNotionalSharesTrades
2026-08-31$165.8M2,883,81459,370
2026-08-24$128.9M2,145,58053,204
2026-08-17$132.0M2,205,63352,887
2026-08-10$117.0M1,898,35653,291
2026-08-03$173.6M2,856,75774,325
2026-07-27$433.1M7,130,025107,816

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1570.4%
DateShort shareShort volumeTotal volume
2026-10-1570.4%420,228596,492
2026-10-1458.4%403,395691,144
2026-10-1371.0%545,670768,346
2026-10-1276.2%214,452281,410
2026-10-0970.6%401,384568,585
2026-10-0869.5%490,008704,771
2026-10-0774.7%387,842518,948
2026-10-0669.5%510,694735,165
2026-10-0561.1%555,919909,675
2026-10-0272.6%560,491772,241
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+2.7Jan+1.4Feb-2.6Mar-1.3Apr+0.5May+2.3Jun+2.0Jul+2.2Aug+0.3Sep-1.7Oct+5.1Nov-0.4Dec
MonthAvg returnUp yearsYears
Jan+2.7%60%10
Feb+1.4%60%10
Mar−2.6%60%10
Apr−1.3%33%9
May+0.5%78%9
Jun+2.3%67%9
Jul+2.0%60%10
Aug+2.2%70%10
Sep+0.3%50%10
Oct−1.7%50%10
Nov+5.1%90%10
Dec−0.4%50%10
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1454.8
MFI65.5
ADX16.8
Stochastic %K / %D79.3 / 81.2
Williams %R-19.9
CCI99
TSI / signal3.5 / -5.1
Chaikin money flow0.15
ATR$1.14
Bollinger width7.0%
Volume vs 20-day avg0.46x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$56.59 (+2.1%)
SMA 50$57.69 (+0.2%)
SMA 200$58.37 (−1.0%)
EMA 21$57.00 (+1.4%)
EMA 50$57.58 (+0.4%)
EMA 200$57.70 (+0.2%)
Bollinger upper$58.58 (−1.3%)
Bollinger lower$54.60 (+5.8%)
Parabolic SAR$56.44 (+2.4%)
Open the live chart, 110+ indicators

About Fortive Corporation

Fortive Corporation is a global industrial technology company that specializes in the conception, development, manufacturing, marketing, and servicing of sophisticated professional and engineered products, as well as software platforms and associated services. Its Intelligent Operating Solutions division aims to boost efficiency and safety in operations. This segment delivers a variety of offerings, including advanced tools for ensuring equipment reliability, comprehensive enterprise software for managing environmental, health, safety, and quality (EHSQ) compliance, and specialized software for the entire lifecycle of facilities and assets. It also provides solutions for pre-construction planning and procurement, robust professional testing instruments, precise calibration tools for electrical, pressure, and temperature measurements, and portable devices for gas detection. These products and services cater to diverse industries such as manufacturing, process industries, healthcare, utilities and power generation, communications, and electronics. Key brands within this segment include ACCRUENT, FLUKE, GORDIAN, INDUSTRIAL SCIENTIFIC, INTELEX, PRUFTECHNIK, and SERVICECHANNEL. The company's Precision Technologies segment focuses on delivering critical measurement and control solutions. Its portfolio encompasses electrical testing and measurement instruments and related services, high-performance energetic material devices, and advanced sensor and control system solutions. These technologies are crucial for demanding sectors like power and energy management, medical equipment manufacturing, food and beverage production, aerospace and defense, off-highway vehicles, electronics, semiconductor fabrication, and various other industrial applications. This segment markets its offerings under brands such as ANDERSON-NEGELE, GEMS, SETRA, HENGSTLER-DYNAPAR, QUALITROL, PACIFIC SCIENTIFIC, KEITHLEY, and TEKTRONIX. Fortive's Advanced Healthcare Solutions division provides a comprehensive suite of hardware, software, and services specifically designed for the healthcare sector. This includes solutions for reprocessing and tracking medical instruments and devices, specialized biomedical testing tools, systems for radiation safety monitoring, and asset management services. Additionally, it offers subscription-based surgical inventory management platforms that optimize inventory and ensure regulatory adherence, alongside expert technical, analytical, and compliance services focused on determining radiation exposure. Brands in this segment include ASP, CENSIS, CENSITRAC, EVOTECH, FLUKE BIOMEDICAL, INVETECH, LANDAUER, RAYSAFE, and STERRAD. Established in 2015, Fortive Corporation maintains its corporate headquarters in Everett, Washington.

https://www.fortive.com

Key executives

NameTitlePayBorn
Mark D. OkerstromSenior Vice President & Chief Financial Officer$3.0M1973
Olumide SoroyePresident, Chief Executive Officer & Director$2.5M1973
Amee DesjourdySenior Vice President & Chief People Officer$1.4M1973
Peter C. UnderwoodSenior Vice President & Chief Legal Officer$1.3M1970
Arul ElumalaiPresident of Gordian and Group President of Facilities & Asset Lifecycle (FAL) Group——
Chad RohrerPresident of ASP & Group President of Infection Prevention Group (IPG)——
Christina JonesVice President of Investor Relations——
Christopher MulhallChief Accounting Officer—1974

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Mark D. Okerstrom Senior Vice President, Chief Financial Officer2025$600,000$13.7M$1.0M$21.4M
Olumide O. Soroye President and Chief Executive Officer2025$931,733$8.2M$1.4M$14.4M
James A. Lico Former President and Chief Executive Officer2025$1.2M$5.7M$1.2M$10.5M
Stacey A. Walker Former Senior Vice President, Chief People Officer (through January 2, 2026)2025$625,000$3.0M$577,125$5.4M
Tamara Newcombe Former President and CEO, Precision Technologies2025$436,539$2.2M$0$5.4M
Peter C. Underwood Senior Vice President, Chief Legal Officer2025$630,000$2.8M$570,402$5.1M

Employees

24k201825k201917k202018k202118k202218k202318k202410k2025

Dividends

Ex-dateAmountPaid
2026-09-04$0.072026-09-25
2026-06-22$0.062026-07-06
2026-03-13$0.062026-03-27
2025-11-28$0.062025-12-26
2025-09-12$0.062025-09-26
2025-05-30$0.060272025-06-27
2025-02-28$0.060272025-03-28
2024-11-29$0.060272024-12-27

Moat model

Narrow · Efficient Scale · 2026-07-03
Cost advantage39
Intangibles63
Switching costs42
Network effect55
Efficient scale85
Our component scores (0-100) and overall 55.1; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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