Fortive Corporation (FTV) vs Teledyne Technologies Incorporated (TDY)

Fortive Corporation and Teledyne Technologies Incorporated are both Scientific & Technical Instruments companies. Teledyne Technologies Incorporated is the larger, with a market value of $28.7B against $17.5B — 1.6× the size. Teledyne Technologies Incorporated trades at the lower P/E: 29.9× against 33.6×. Fortive Corporation grew revenue faster over the last twelve months: 43.2% against 7.87%. Teledyne Technologies Incorporated has the higher net margin (15.3% vs 12.4%) and the higher return on invested capital (6.15% vs 5.34%). Across the 22 metrics below, Teledyne Technologies Incorporated leads on 15 and Fortive Corporation on 7.

Valuation

Metric FTV TDY Scientific & Technical Instruments median
P/E 33.60 29.87 33.25
P/S 4.07 4.49 4.50
P/B 2.90 2.62 2.90
Price to free cash flow 18.75 25.08 24.81
EV/EBITDA 17.51 19.17 17.92
EV/Sales 5.01 4.76 4.71
Earnings yield 2.98% 3.35% 0.60%
Free cash flow yield 5.33% 3.99% 1.27%

Profitability

Metric FTV TDY Scientific & Technical Instruments median
Gross margin 63.23% 43.34% 45.75%
Operating margin 18.23% 19.45% 7.34%
Net margin 12.38% 15.29% 1.56%
Free cash flow margin 21.72% 17.92% 5.84%
Return on equity 6.49% 9.16% 2.87%
Return on assets 3.58% 6.41% 0.99%
Return on invested capital 5.34% 6.15% 3.88%

Growth

Metric FTV TDY Scientific & Technical Instruments median
Revenue growth (TTM) 43.22% 7.87% 11.15%
EPS growth (last fiscal year) (26.69%) 9.70% 11.47%
Revenue growth, 5-year CAGR (2.14%) 14.66% 7.89%
Net income growth, 5-year CAGR (17.81%) 17.36% 0.00%

Health

Metric FTV TDY Scientific & Technical Instruments median
Debt to equity 0.58 0.19 0.00
Current ratio 1.24 2.18 2.24
Net debt to EBITDA 2.44 1.43 0.44

Dividend

Metric FTV TDY Scientific & Technical Instruments median
Dividend yield 0.43% — 0.58%
Payout ratio 0.15 — 0.36

Size

Metric FTV TDY Scientific & Technical Instruments median
Market cap 17.45b 28.74b 444.25m

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