| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | 1 | 1 | — | — | 1 | — | — | 1 | — | — | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 0.23 |
—
—
—
|
| 2025 | 0.29 |
—
—
—
—
—
|
| 2024 | 0.24 |
—
—
—
—
|
| 2023 | 0.22 |
—
—
—
—
|
| 2022 | 0.21 |
—
—
—
—
|
| 2021 | 0.21 |
—
—
—
—
|
| 2020 | 0.19 |
—
—
—
—
|
| 2019 | 0.18 |
—
—
—
—
|
| 2018 | 0.18 |
—
—
—
—
|
| 2017 | 0.18 |
—
—
—
—
|
| 2016 | 0.16 |
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 1,888.80 | 813.30 | 375.50 | 374.20 |
| Receivables | 960.80 | 661.30 | 683.60 | 657.80 |
| Inventory | 536.90 | 269.80 | 291.80 | 310.80 |
| Other | — | — | — | — |
| 3,671.60 | 2,592.30 | 1,605.70 | 1,597.10 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 608.60 | 425.40 | 436.40 | 427.90 |
| ST’ Debt | 549.30 | 376.20 | 899.50 | — |
| Other | — | — | — | — |
| 1,791.30 | 2,238.40 | 2,246.60 | 1,286.60 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,069.40 | 1,096.80 | — | — |
—
|
| ’25 | 993.10 | 1,016.40 | 1,027.10 | 1,122.50 |
4,159.10
|
| ’24 | 1,524.50 | 1,552.40 | 1,003.70 | 0.30 |
4,080.90
|
| ’23 | 1,460.70 | 1,526.40 | 1,494.50 | (567.70) |
3,913.90
|
| ’22 | 1,376.50 | 1,463.30 | 1,456.00 | 1,529.90 |
5,825.70
|
| ’21 | 1,259.20 | 1,319.70 | 1,301.00 | 1,374.80 |
5,254.70
|
| ’20 | 1,108.10 | 1,041.60 | 1,159.80 | 1,324.90 |
4,634.40
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 234.80 | 286.20 | — | — |
—
|
| ’25 | 241.70 | 311.20 | 164.40 | 365.90 |
1,083.20
|
| ’24 | 256.70 | 308.90 | 459.00 | 502.20 |
1,526.80
|
| ’23 | 174.40 | 321.00 | 411.40 | 446.80 |
1,353.60
|
| ’22 | 214.80 | 294.40 | 329.80 | 464.20 |
1,303.20
|
| ’21 | 144.80 | 279.50 | 262.20 | 274.60 |
961.10
|
| ’20 | 191.00 | 479.30 | 481.70 | 284.70 |
1,436.70
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 208.20 | 258.10 | — | — |
—
|
| ’25 | 220.60 | 286.20 | 136.20 | 335.10 |
978.10
|
| ’24 | 241.10 | 279.70 | 441.10 | 478.80 |
1,440.70
|
| ’23 | 149.60 | 304.90 | 385.80 | 434.70 |
1,275.00
|
| ’22 | 196.00 | 276.10 | 307.20 | 428.10 |
1,207.40
|
| ’21 | 136.40 | 270.80 | 251.30 | 257.10 |
915.60
|
| ’20 | 164.80 | 460.00 | 468.30 | 273.20 |
1,366.30
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.44 | 0.51 | — | — |
—
|
| ’25 | 0.50 | 0.49 | 0.16 | 0.58 |
1.73
|
| ’24 | 0.58 | 0.55 | 0.63 | 0.60 |
2.36
|
| ’23 | 0.49 | 0.59 | 0.61 | 0.75 |
2.43
|
| ’22 | 0.45 | 0.48 | 0.53 | 0.64 |
2.10
|
| ’21 | 0.27 | 0.48 | 0.42 | 0.45 |
1.63
|
| ’20 | 0.07 | 0.33 | 0.61 | 3.37 |
4.49
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 39.54 | 47.25 | 49.85 | 45.50 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 57.67 | 60.21 | 65.64 | 62.79 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18,000 | 18,000 | 18,000 | 10,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.32 | 0.22 | 0.23 | 0.42 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,825.70 | 3,913.90 | 4,080.90 | 4,159.10 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 57.73% | 63.29% | 64.18% | 63.50% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 873.50 | 433.10 | 506.30 | 602.20 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.99% | 11.07% | 12.41% | 14.48% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 755.20 | 865.80 | 832.90 | 579.20 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 465.60 | 426.20 | 430.90 | 437.60 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.35 | 11.10 | 11.69 | 12.53 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 2.12 | 2.46 | 2.39 | 1.74 | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.66 | 3.84 | 4.37 | 3.26 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.27) | (0.22) | (0.25) | (0.32) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.39 | 3.62 | 4.13 | 2.95 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 27.18 | 29.29 | 29.20 | 19.46 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 356.40 | 352.50 | 349.20 | 332.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.95 | 22.23 | 23.65 | 31.55 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.96 | 4.90 | 4.84 | 4.41 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.78 | 1.86 | 1.94 | 2.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.40 | 5.49 | 5.55 | 5.09 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.40 | 16.87 | 15.71 | 21.63 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,303.20 | 1,353.60 | 1,526.80 | 1,083.20 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (95.80) | (78.60) | (86.10) | (105.10) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,207.40 | 1,275.00 | 1,440.70 | 978.10 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (250.10) | 1,880.30 | 353.90 | (640.90) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,251.30 | 4,195.50 | 3,707.30 | 3,206.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,542.10 | 2,306.70 | 2,894.00 | 2,830.50 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9,688.60 | 10,325.30 | 10,195.60 | 6,461.10 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.67% | 5.28% | 4.91% | 4.03% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.05% | 2.84% | 3.42% | 4.84% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.86% | 8.65% | 8.12% | 6.95% | ‡‡‡‡‡ | — | — |
ROE
|
Fortive Corporation (FTV), a diversified industrial technology leader, has methodically reshaped its portfolio since its 2016 spin-off from Danaher, shedding non-core assets to boost efficiency—slashing headcount by 32% and driving revenue per employee up 27% to $346,000 by 2024. Gross margins have impressively expanded to 59.9%, fueling robust free cash flow of $1.47 billion last year, while a lean balance sheet features reduced debt (down 41% since 2019) and doubled book value per share. Yet, the 2024 plan to split into two pure-play entities—Intelligent Devices and Automation & Specialty Solutions—looms large, projecting a sharp 33% revenue contraction to $4.16 billion in 2025 before a modest rebound.
This restructuring echoes past spin-offs like 2018’s revenue plunge, which preceded recovery and rerating, but carries execution risks amid industrial cyclicality and China exposure. Profitability remains steady with 15-16% EBT margins and strong FCF conversion over 90%, supporting dividends and buybacks, though EPS forecasts dip before stabilizing at $2.22 by 2026. Insider selling dominates, tempered by a notable CFO purchase signaling confidence in FCF strength.
Trading at levels implying 12% upside to consensus targets (with 27% potential highs or 10% downside on macro weakness), Fortive’s fortress-like cash generation and margin trajectory offer mid-teens total returns for patient investors—but only if the spin unlocks value without delays. The full analysis delves into historical patterns, peer comps, and sensitivity scenarios to weigh these steady performers against lurking headwinds.
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