Fortive Corporation (FTV)

NYSE: FTV · USD

$63.8

+2.20 (+3.6%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-11

Our latest published analysis: FTV rated Hold

Fortive Corporation's published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$53.0 / share

Potential value

$60.2 / share

Upside to FV

-7.5%

from $63.8

Moat

7.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$17.5B
Revenue (ttm)	4.3B
Net income (ttm)	534.4M
EPS (ttm)	$1.68
Shares out	302M
P/E (trailing)	37.9x
P/E (forward)	17.3x
Dividend	$0.28 (0.44%)
Volume	5,333,165
Beta	0.99

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 4.3B
Net income (ttm): 534.4M
EPS (ttm): $1.68
P/E (trailing): 37.9x
P/E (forward): 17.3x
Market cap: $17.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$5.25B	$5.83B	$3.91B	$4.08B	$4.16B	-5.7%
Gross profit	$3.01B	$3.36B	$2.48B	$2.62B	$2.64B	-3.2%
Operating income	$812.8M	$987.4M	$574.0M	$716.3M	$720.2M	-3.0%
Net income	$608.4M	$755.2M	$865.8M	$832.9M	$579.2M	-1.2%
EPS (diluted)	$1.23	$1.58	$2.43	$2.36	$1.73	+8.9%
EBITDA	$1.18B	$1.44B	$1.13B	$1.67B	$1.20B	+0.5%
R&D	$354.8M	$401.5M	$237.0M	$251.3M	$259.2M	-7.5%
SG&A	$1.84B	$1.96B	$1.67B	$1.65B	$1.66B	-2.5%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	売り
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	ホールド
ADP	Automatic Data Processing, Inc.	113B	25.3x	5.1x	62.8%	+7.7%	+4.5%	ホールド
ALLE	Allegion plc	15.2B	22.5x	3.5x	19.4%	+8.8%	+7.2%	ホールド

Base and Bull scenarios

Base60%

Price target

$52.99

-7.5% from spot

The base case projects intrinsic value reaching $52.99 with an assigned probability of 60.0%, offering an implied return of -7.5% relative to $57.26 (as of 2026-10-09). This trajectory assumes steady mid-single-digit organic growth across Intelligent Operating Solutions, continuous Fortive Business System operational improvements expanding operating margins through FY2030, and disciplined share repurchases. Disconfirmation would occur if segment operating margins deteriorate or if industrial capex freezes in North America and EMEA.

Mid-single-digit revenue expansion driven by field maintenance digitization
Gradual operating margin expansion through Fortive Business System efficiency gains
Normalized cash conversion supporting steady capital returns

Bull20%

Price target

$60.16

+5.1% from spot

The bull case models upside reaching $60.16 with a probability of 20.0%, generating an implied return of 5.1% from $57.26 (as of 2026-10-09). This outcome requires accelerated conversion of legacy hardware clients into recurring cloud software subscriptions within Intelligent Operating Solutions, accompanied by stronger hospital procedure volumes in healthcare sterilization. Faster margin expansion toward Potential value of $60.16 would be disconfirmed if peer competition limits software pricing power.

Rapid acceleration of connected software subscription adoption
Operating margins expand faster than historical run rates
Enhanced share buyback cadence funded by strong cash conversion

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($52.99). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
8.4%	$56.7	$57.6	$58.6	$59.6	$60.8
8.9%	$54.0	$54.8	$55.6	$56.4	$57.4
9.4%	$51.7	$52.3	$53.0	$53.7	$54.5
9.9%	$49.6	$50.1	$50.7	$51.3	$52.0
10.4%	$47.7	$48.2	$48.7	$49.2	$49.8

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E17.3

P25 n/aP50 n/aP75 n/a

Trailing P/E30.1

P25 n/aP50 n/aP75 n/a

ROE7.3

P25 n/aP50 n/aP75 n/a

ROIC7.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All FTV indicators

Market & fundamental data

Available fields

279

Groups with data

Currency

USD

Showing 279 of 279 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001659166
Company name	Fortive Corporation
Country	United States
Country code	US
CUSIP number	34959J108
Earnings date	2026-10-28
Earnings time	bmo
Employees	10,000
Employees change	-8,000
Employees growth	-44.44%
Enterprise value	$22.5B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-10-02
First seen	2026-05-09
Fiscal year end	December
Founded	2015
In index	SP500
Industry	Scientific & Technical Instruments
Is primary listing	Yes
Is SPAC	No
ISIN number	US34959J1088
Last 10-K release date	2026-02-25
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$19.3B
Market cap category	Large-Cap
Next earnings date	2027-02-03
Options	Yes
Price	$63.82
Price currency	USD
Sector	Technology
SIC code	3823
Stock price date	2026-10-28
Symbol	FTV
U.S. state	Washington
Website	https://www.fortive.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	20.52x
Average P/E ratio (10Y)	27.07x
Average P/E ratio (3Y)	31.22x
Average P/E ratio (5Y)	31.31x
Earnings yield	2.64%
EV/Earnings	43.62x
EV/EBIT	29.61x
EV/EBITDA	18.88x
EV/FCF	24.86x
EV/Sales	5.4x
FCF / EV yield	4.02%
FCF yield	4.67%
Forward EV/Sales	5.25x
Forward P/E	20.16x
Forward P/S	4.52x
Graham number	27.55141
Graham upside	-58.57%
Industry forward P/E	21.95x
Industry P/E	39.52x
Lynch fair value	$8.42
Lynch upside	-87.33%
P/(FCF - SBC) ratio	24.45x
P/(OCF - SBC) ratio	21.47x
P/B ratio	3.08x
P/E ratio	37.89x
P/FCF ratio	21.42x
P/OCF ratio	19.1x
P/S ratio	4.65x
Price/EBITDA ratio	16.27x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	18.24%
EBITDA margin	28.61%
Effective tax rate	10.39%
FCF margin	21.72%
Gross margin	63.23%
Operating margin	18.24%
Pretax margin	15.57%
Profit margin	12.38%
Profit per employee	$53,440
Profitable quarters	45
Profitable years	14
Revenue per employee	$431,580
ROA	3.3%
ROA (5Y)	2.99%
ROCE	7.62%
ROE	7.32%
ROE (5Y)	5.94%
ROIC	7.58%
ROIC (5Y)	5.72%
SBC / revenue	2.69%
Tax / revenue	1.62%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-24.02%
EPS growth (Q)	247.48%
EPS growth (QoQ)	11.76%
EPS growth 10Y	-3.76%
EPS growth 3Y	-9.03%
EPS growth 5Y	-18.93%
EPS growth quarters	1
EPS growth years	0
FCF growth	-34.78%
FCF growth (QoQ)	9.92%
FCF growth 3Y	-7.51%
FCF growth 5Y	-3.89%
Gross profit growth	4.16%
Gross profit growth (Q)	9.46%
Gross profit growth 3Y	-7.89%
Gross profit growth 5Y	-1.14%
Net income growth	-30.5%
Net income growth (Q)	213.64%
Net income growth (QoQ)	9.66%
Net income growth 3Y	-12.57%
Net income growth 5Y	-20.32%
Net income growth years	0
OCF growth	-30.57%
OCF growth (QoQ)	9.43%
OCF growth 10Y	-0.56%
OCF growth 3Y	-6.58%
OCF growth 5Y	-2.46%
Operating income growth	9.3%
Operating income growth (Q)	47.81%
Operating income growth 3Y	-9.91%
Operating income growth 5Y	-0.97%
Revenue growth	5.62%
Revenue growth (Q)	7.83%
Revenue growth (QoQ)	0.98%
Revenue growth 10Y	-3.45%
Revenue growth 3Y	-10.27%
Revenue growth 5Y	-3.15%
Revenue growth quarters	4
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-113.7M
Depreciation and amortization	$447.5M
EBIT	$787.1M
EBITDA	$1.2B
EPS	$1.68
FCF per share	$3.10
Financing cash flow	$-2.3B
Free cash flow	$937.6M
Free cash flow minus SBC	$821.6M
Gross profit	$2.7B
Income taxes	$69.8M
Investing cash flow	$-192.7M
Net borrowing	$-132.4M
Net cash flow	$-1.4B
Net income	$534.4M
Operating cash flow minus SBC	$935.3M
Operating income	$787.1M
Revenue	$4.3B
Stock-based compensation	$116M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3.19
Book value per share	$20.03
Debt / EBITDA	2.84
Debt / equity	0.59
Debt / FCF	3.84
Goodwill	$7.3B
Interest coverage	6.38
Long-term assets	$10B
Long-term liabilities	$4.3B
Net cash (debt)	$-3.2B
Net cash / market cap	-16.05%
Net debt / EBITDA	2.61
Net debt / equity	0.53
Net debt / FCF	3.44
Piotroski F-Score	6
Property, plant and equipment	$278.6M
Shareholders' equity	$6.1B
Tangible book value	$-3.3B
Tangible book value per share	$-10.91
Total assets	$11.6B
Total cash	$374.2M
Total debt	$3.6B
Total liabilities	$5.5B
WACC	8.67%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.29
Current assets	$1.6B
Current liabilities	$1.3B
Current ratio	1.24
Inventory turnover	3.45
Net working capital	$-63.7M
Quick ratio	0.8
Working capital	$310.5M
Working capital turnover	-19.3

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	8.24%
Dividend growth	-16.67%
Dividend growth (3Y)	-3.71%
Dividend growth (5Y)	-2.24%
Dividend growth years	0
Dividend payment date	2026-09-25
Dividend payment years	11
Dividend payout frequency	Quarterly
Dividend per share	$0.28
Dividend yield	0.44%
Ex-dividend date	2026-09-04
FCF payout ratio	8.05%
Last dividend	$0.07
Payout ratio	14.84%
Shareholder yield	8.66%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	34.39%
10Y return CAGR	8.32%
10Y total return	122.37%
150-day SMA	$59.33
1D price change	3.57%
1M price change	13.78%
1M total return	13.78%
1W price change	8.83%
1W total return	8.83%
1Y price change	29.01%
1Y return CAGR	29.6%
1Y total return	29.58%
20-day SMA	$58.40
200-day SMA	$58.59
3M price change	1.43%
3M total return	1.55%
3Y price change	-1.86%
3Y return CAGR	9.69%
3Y total return	31.99%
50-day SMA	$57.53
50-day SMA vs 200-day SMA	50under200
52-week high	$66.91
52-week high date	2026-10-28
52-week low	$48.98
52-week low date	2025-10-28
5Y price change	-13.84%
5Y return CAGR	3.17%
5Y total return	16.85%
6M price change	2.92%
6M total return	3.15%
All-time high	$89.48
All-time high date	2019-04-24
All-time low	$37.31
All-time low date	2020-03-18
Average true range (ATR)	$1.51
Average volume	2.4M
Beta (1Y)	0.48
Beta (2Y)	0.82
Beta (5Y)	0.99
Change from 52-week high	-4.79%
Change from 52-week low	30.31%
Change from all-time high	-28.68%
Change from all-time low	71.05%
Change from open	-1.79%
Day's gap	5.45%
Dollar volume	$340.4M
High price	$66.91
Low price	$63.29
Monthly RSI	52.35
Open price	$64.98
Position in 52-week range	14.64%
Premarket change	3.94%
Premarket close	$61.62
Premarket price	$64.05
Premarket volume	1.6K
Previous close	$61.62
Price vs 150-day SMA	7.57%
Price vs 20-day SMA	9.28%
Price vs 200-day SMA	8.93%
Price vs 50-day SMA	10.94%
Relative volume	2.23
RSI	77.74
Sharpe ratio	0.95
Sharpe ratio (3Y)	0.24
Sharpe ratio (5Y)	0.09
Sortino ratio	1.66
Sortino ratio (3Y)	0.55
Sortino ratio (5Y)	0.34
Volume	5.3M
Weekly RSI	62.67
YTD price change	15.6%
YTD total return	15.98%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	281M
Float percentage	93.03%
Shares change (QoQ)	-1.2%
Shares change (YoY)	-8.24%
Shares held by insiders	0.27%
Shares held by institutions	104.88%
Shares outstanding	302M
Short % of float	6.11%
Short % of shares	5.68%
Short ratio	7.4 days

Deeper analysis on FTV

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this FTV report

What is the latest published FTV stock rating?

Fortive Corporation is shown with Hold in the latest published report, analyzed 2026-10-11. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full FTV analysis?

The full latest published report, analyzed 2026-10-11, lives at /stocks/FTV/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for FTV?

The latest published report analyzed 2026-10-11 gives FTV a fair value of USD 53 and a potential value of USD 60. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the FTV page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-11). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldFTV · Fair value $53.0-7.5%

Read full analysis →

Fortive Corporation (FTV)

Our latest published analysis: FTV rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · FTV

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All FTV indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on FTV

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	4.5
Management	8.5
Balance Sheet	6.0
Profitability	5.5
Revenue Growth	6.0
Risk Assessment	6.5
Competitive Moat	7.5
Earnings Quality	7.5
Capital Efficiency	3.5