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 $27.2B against $19.5B — 1.4× the size. Teledyne Technologies Incorporated trades at the lower P/E: 28.2× against 30.7×. Teledyne Technologies Incorporated grew revenue faster over the last twelve months: 8.57% against 6.98%. Teledyne Technologies Incorporated has the higher net margin (15.8% vs 14.8%) and the higher return on invested capital (6.47% vs 5.93%). Across the 22 metrics below, Teledyne Technologies Incorporated leads on 16 and Fortive Corporation on 6.

Valuation

Metric FTV TDY Scientific & Technical Instruments median
P/E 30.73 28.21 28.21
P/S 4.46 4.38 4.46
P/B 3.29 2.57 3.10
Price to free cash flow 18.06 24.90 24.15
EV/EBITDA 18.00 18.25 18.28
EV/Sales 5.38 4.61 4.64
Earnings yield 3.25% 3.54% 0.68%
Free cash flow yield 5.54% 4.02% 1.98%

Profitability

Metric FTV TDY Scientific & Technical Instruments median
Gross margin 63.47% 43.60% 47.24%
Operating margin 19.63% 20.00% 8.96%
Net margin 14.83% 15.75% 1.92%
Free cash flow margin 24.69% 17.60% 10.59%
Return on equity 10.46% 9.47% 2.66%
Return on assets 5.57% 6.64% 1.12%
Return on invested capital 5.93% 6.47% 4.79%

Growth

Metric FTV TDY Scientific & Technical Instruments median
Revenue growth (TTM) 6.98% 8.57% 9.26%
EPS growth (last fiscal year) (26.69%) 9.70% 13.24%
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 0.59 0.18 0.00
Current ratio 1.23 2.31 2.30
Net debt to EBITDA 2.44 1.43 0.45

Dividend

Metric FTV TDY Scientific & Technical Instruments median
Dividend yield 0.38% — 0.62%
Payout ratio 0.12 — 0.22

Size

Metric FTV TDY Scientific & Technical Instruments median
Market cap 19.47b 27.24b 549.07m

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