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 $28.4B against $16.7B — 1.7× the size. Teledyne Technologies Incorporated trades at the lower P/E: 29.7× against 32.6×. 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 32.61 29.65 35.93
P/S 3.95 4.46 4.46
P/B 2.81 2.60 3.00
Price to free cash flow 18.20 24.90 24.96
EV/EBITDA 17.09 19.04 19.60
EV/Sales 4.89 4.73 4.98
Earnings yield 3.07% 3.37% 0.53%
Free cash flow yield 5.50% 4.02% 1.12%

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% 11.28%
EPS growth (last fiscal year) (26.69%) 9.70% —
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 0.38% — 0.72%
Payout ratio 0.13 0.00 0.00

Size

Metric FTV TDY Scientific & Technical Instruments median
Market cap 16.74b 28.37b 483.67m

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