Fortive Corp (FTV)
NYSE:FTV
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Fortive
(NYSE:FTV)
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Rating:68Neutral
Price Target:
$67.00
▲(10.71% Upside)
Action:ReiteratedDate:04/30/26
The score reflects solid underlying financial quality (strong cash conversion and manageable leverage) and constructive price momentum, partially offset by a weaker recent growth profile (TTM revenue decline and lower profitability versus prior years) and a relatively expensive valuation (P/E ~30 with a low dividend yield). Earnings call tone and reaffirmed guidance provide a supportive, but not risk-free, outlook given tariff and demand-related headwinds.
Positive Factors
Cash generation quality
Fortive's trailing‑12‑month free cash flow of roughly $0.96B and conversion near 90% of net income indicate high earnings quality and resilient operating cash. Durable FCF supports organic investment, bolt‑on M&A, dividends, and buybacks while cushioning cyclical revenue swings.
Negative Factors
Weakened revenue trend
A multi‑period revenue decline (TTM down ~7.9%) signals lingering end‑market weakness and slows the pace at which margin and return metrics can rebound. Prolonged top‑line compression makes sustaining ROE and funding growth initiatives more challenging absent faster organic recovery or accretive M&A.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation quality
Fortive's trailing‑12‑month free cash flow of roughly $0.96B and conversion near 90% of net income indicate high earnings quality and resilient operating cash. Durable FCF supports organic investment, bolt‑on M&A, dividends, and buybacks while cushioning cyclical revenue swings.
Read all positive factors
Fortive (FTV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.41B
Dividend Yield0.43%
Average Volume (3M)2.94M
Price to Earnings (P/E)31.8
Beta (1Y)0.99
Revenue Growth-23.36%
EPS Growth-26.77%
CountryUS
Employees10,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.70
Shares Outstanding307,859,200
10 Day Avg. Volume2,855,948
30 Day Avg. Volume2,943,969
Financial Highlights & Ratios
PEG Ratio-1.13
Price to Book (P/B)2.71
Price to Sales (P/S)3.40
P/FCF Ratio17.86
Enterprise Value/Market Cap1.19
Enterprise Value/Revenue4.61
Enterprise Value/Gross Profit7.46
Enterprise Value/Ebitda19.75
Forecast
1Y Price Target
$61.14Price Target Upside1.03% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)2.96
Revenue Forecast (FY)$4.32B
Fortive Business Overview & Revenue Model
Company Description
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health,...
How the Company Makes Money
Fortive makes money primarily by selling industrial and professional technology products and by providing recurring software and services tied to those products. Key revenue streams typically include: (1) Product revenue from the sale of instrumen...
Fortive Key Performance Indicators (KPIs)
Fortive Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call portrayed a broadly positive operational and financial performance in Q1, with solid core revenue growth, double-digit adjusted EPS expansion, strong adjusted EBITDA growth and cash generation, meaningful share repurchases, and clear product and commercial momentum (notably at Fluke and recurring/software businesses). Near-term headwinds include tariff-driven gross margin pressure, selling-days-driven timing benefits in Q1 that temper underlying growth visibility, cautious hospital capital spending, and a modest increase in leverage from buybacks. Management reaffirmed full-year guidance and signaled confidence in the Fortive Accelerator strategy while remaining disciplined on capital allocation.Positive Updates
Consolidated Revenue Growth
Total revenue of nearly $1.1 billion in Q1, up almost 8% year-over-year on a reported basis and up just over 5% on a core basis (note: core growth benefited from ~150 basis points of selling days tailwind).
Negative Updates
Tariff-Related Gross Margin Pressure
Adjusted gross margin down about 100 basis points year-over-year to just over 63% at the consolidated level, driven largely by the net impact of tariffs; IOS gross margin down ~150 basis points. Tariff headwind expected to persist into part of Q3 before fully dissipating in Q4.
Read all updates
Q1-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Total revenue of nearly $1.1 billion in Q1, up almost 8% year-over-year on a reported basis and up just over 5% on a core basis (note: core growth benefited from ~150 basis points of selling days tailwind).
Read all positive updates
Company Guidance
Fortive reaffirmed full‑year 2026 adjusted EPS guidance of $2.90–$3.00 per share and said results are trending toward the upper half of that range, with core revenue growth expected in the 2%–3% range (trending to the high end) and full‑year reported revenue of roughly $4.3 billion (based on current FX). Management expects Q2 and Q3 adjusted EPS to be broadly similar to Q1’s $0.70 (Q1 was +25% year‑over‑year), noted Q1 revenue was nearly $1.1 billion (reported +~8%, core just over 5% with ~150 bps selling‑days tailwind), and warned Q4 will carry a $15–$20 million revenue headwind from four fewer selling days; FX and M&A are modeled as roughly a 150‑bp reported revenue tailwind in Q2 moderating to ~50–100 bps in the back half. Additional modeling items: Q2 effective tax rate mid‑teens, Q3 high‑teens, Q4 high single‑digit to low double‑digit; full‑year net interest expense just over $135 million; adjusted EBITDA margin expansion of roughly 50–100 bps per year in the financial framework; Q1 adjusted EBITDA was $314 million (+~13%) and Q1 free cash flow was $194 million with trailing‑12‑month FCF conversion north of 100%. Capital allocation guidance was unchanged: disciplined bolt‑on M&A, invest in organic growth, maintain a modest growing dividend, and return capital (about $500 million of buybacks in Q1, ~$1.8 billion total since the spin — ~35 million shares, just over 10%), with a balance sheet at ~2.8x gross debt to adjusted EBITDA.Fortive Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
64
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.74B | 5.14B | 6.23B | 6.07B | 5.83B | 5.25B |
| Gross Profit | 2.93B | 3.13B | 3.73B | 3.59B | 3.36B | 3.01B |
| EBITDA | 1.11B | 1.20B | 1.67B | 1.57B | 1.44B | 1.18B |
| Net Income | 543.70M | 579.20M | 832.90M | 865.80M | 755.20M | 608.40M |
Balance Sheet | ||||||
| Total Assets | 11.58B | 11.74B | 17.02B | 16.91B | 15.89B | 16.47B |
| Cash, Cash Equivalents and Short-Term Investments | 356.10M | 375.50M | 813.30M | 1.89B | 709.20M | 819.30M |
| Total Debt | 3.49B | 3.21B | 3.88B | 3.81B | 3.42B | 4.14B |
| Total Liabilities | 5.50B | 5.28B | 6.82B | 6.59B | 6.20B | 6.95B |
| Stockholders Equity | 6.08B | 6.45B | 10.19B | 10.32B | 9.68B | 9.51B |
Cash Flow | ||||||
| Free Cash Flow | 956.90M | 978.10M | 1.41B | 1.25B | 1.21B | 911.10M |
| Operating Cash Flow | 1.06B | 1.08B | 1.53B | 1.35B | 1.30B | 961.10M |
| Investing Cash Flow | -135.90M | -135.40M | -1.80B | -195.40M | -102.50M | -2.62B |
| Financing Cash Flow | -1.47B | -1.39B | -792.70M | 32.30M | -1.27B | 652.00M |
Fortive Technical Analysis
Positive
60.52
Price Trends
57.29
Positive
55.87
Positive
52.63
Positive
Market Momentum
1.08
Negative
64.75
Neutral
81.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FTV, the sentiment is Positive. The current price of 60.52 is above the 20-day moving average (MA) of 57.03, above the 50-day MA of 57.29, and above the 200-day MA of 52.63, indicating a bullish trend. The MACD of 1.08 indicates Negative momentum. The RSI at 64.75 is Neutral, neither overbought nor oversold. The STOCH value of 81.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FTV.
Fortive Risk Analysis
Fortive disclosed 35 risk factors in its most recent earnings report. Fortive reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fortive Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $29.92B | 30.13 | 8.85% | ― | 7.74% | 12.76% | |
75 Outperform | $33.66B | 23.76 | 16.83% | ― | 4.89% | -9.65% | |
70 Outperform | $11.67B | 18.96 | 7.33% | ― | 44.48% | 8.59% | |
68 Neutral | $18.41B | 31.82 | 6.90% | 0.43% | -23.36% | -26.77% | |
67 Neutral | $62.43B | 48.81 | 3.58% | ― | 18.63% | ― | |
63 Neutral | $15.62B | 43.86 | 7.46% | ― | -2.61% | -71.05% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
FTV
Fortive
59.03
8.37
16.53%
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TDY
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640.33
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Fortive Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Fortive Expands Liquidity with New $2 Billion Credit Facility
Positive
Mar 20, 2026
On March 17, 2026, Fortive Corporation entered into a third amended and restated credit agreement that establishes a five-year, unsecured revolving credit facility of up to $2.0 billion, with a multicurrency borrowing feature and no initial drawdo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.