Fortive (FTV) Financials

$60.57 -0.33 (-0.55%)

As of 11:31 AM Eastern

Annual Income Statements for Fortive

This table shows Fortive's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	864	872	1,045	2,879	670	1,544	574	755	866	833	579
Consolidated Net Income / (Loss)	864	872	1,045	2,914	739	1,613	608	755	866	833	579
Net Income / (Loss) Continuing Operations	864	740	884	490	268	1,452	614	755	408	483	533
Total Pre-Tax Income	1,270	1,011	1,074	566	337	1,508	678	874	433	506	602
Total Operating Income	1,270	1,062	1,143	645	444	539	813	987	574	716	720
Total Gross Profit	3,000	2,686	2,921	2,186	2,483	2,609	3,007	3,363	2,477	2,619	2,641
Total Revenue	6,179	5,378	5,756	3,800	4,564	4,634	5,255	5,826	3,914	4,081	4,159
Operating Revenue	6,179	5,378	5,756	3,800	4,564	4,634	5,255	5,826	3,914	4,081	4,159
Total Cost of Revenue	3,179	2,693	2,835	1,614	2,081	2,026	2,248	2,462	1,437	1,462	1,518
Operating Cost of Revenue	3,179	2,693	2,835	1,614	2,081	2,026	2,248	2,462	1,437	1,462	1,518
Total Operating Expenses	1,730	1,624	1,778	1,541	2,039	2,069	2,194	2,376	1,903	1,903	1,921
Selling, General & Admin Expense	1,353	1,273	1,409	1,263	1,719	1,748	1,840	1,957	1,666	1,652	1,662
Research & Development Expense	378	351	369	278	320	321	355	402	237	251	259
Total Other Income / (Expense), net	0.00	-51	-69	-80	-107	968	-135	-114	-141	-210	-118
Interest Expense	-	46	89	77	143	149	208	98	124	153	121
Other Income / (Expense), net	0.00	-4.80	4.00	-2.30	-5.40	-2.40	16	-16	-17	-57	2.50
Income Tax Expense	406	270	189	76	69	56	63	118	25	24	70
Net Income / (Loss) Discontinued Operations	-	132	160	2,424	471	161	-5.80	-	457	350	47
Basic Earnings per Share	$2.50	$2.52	$3.01	$8.33	$1.99	$4.58	$1.64	$2.12	$2.46	$2.39	$1.74
Weighted Average Basic Shares Outstanding	345.20M	345.70M	347.50M	345.50M	335.80M	337.40M	349M	356.40M	352.50M	349.20M	332M
Diluted Earnings per Share	$2.50	$2.51	$2.96	$8.21	$1.97	$4.49	$1.63	$2.10	$2.43	$2.36	$1.73
Weighted Average Diluted Shares Outstanding	345.20M	347.30M	352.60M	350.70M	340M	359M	352.30M	360.80M	355.60M	352.80M	334.60M
Weighted Average Basic & Diluted Shares Outstanding	345.20M	346.20M	347M	334.63M	336.42M	338.07M	359.07M	353.20M	351.38M	340.29M	307.86M

This table shows Fortive's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
Net Income / (Loss) Attributable to Common Shareholders	218	265	207	195	222	209	172	167	55	186	136
Consolidated Net Income / (Loss)	218	265	207	195	222	209	172	167	55	186	136
Net Income / (Loss) Continuing Operations	218	265	207	195	112	209	113	167	117	77	136
Total Pre-Tax Income	257	278	234	229	109	275	134	192	135	74	164
Total Operating Income	291	311	302	302	172	307	165	222	160	105	192
Total Gross Profit	893	948	904	928	642	977	638	896	649	215	676
Total Revenue	1,495	1,584	1,525	1,552	1,004	1,620	993	1,519	1,027	139	1,069
Operating Revenue	1,495	1,584	1,525	1,552	1,004	1,620	993	1,519	1,027	139	1,069
Total Cost of Revenue	602	636	620	624	362	643	356	623	378	-76	394
Operating Cost of Revenue	602	636	620	624	362	643	356	623	378	-76	394
Total Operating Expenses	602	637	602	627	470	670	472	674	490	111	484
Selling, General & Admin Expense	504	537	561	525	408	563	408	564	428	128	417
Research & Development Expense	98	99	104	101	62	107	64	109	62	-17	67
Total Other Income / (Expense), net	-34	-33	-68	-73	-63	-32	-32	-30	-25	-31	-28
Interest Expense	30	29	44	39	37	33	32	32	25	31	32
Other Income / (Expense), net	-4.20	-4.90	-24	-34	-26	0.70	0.40	1.90	0.80	-	3.50
Income Tax Expense	39	12	27	34	-2.40	66	21	25	18	-3.40	27
Net Income / (Loss) Discontinued Operations	-	-	-	-	110	-	59	-	-62	-	0.00
Basic Earnings per Share	$0.62	$0.76	$0.59	$0.56	$0.63	$0.61	$0.50	$0.49	$0.17	$0.58	$0.44
Weighted Average Basic Shares Outstanding	352.10M	352.50M	351.70M	351.30M	349.20M	349.20M	341.10M	339.60M	330.80M	332M	309.60M
Diluted Earnings per Share	$0.61	$0.74	$0.58	$0.55	$0.63	$0.60	$0.50	$0.49	$0.16	$0.58	$0.44
Weighted Average Diluted Shares Outstanding	356.10M	355.60M	356M	354.80M	352.30M	352.80M	344.60M	341.70M	333.40M	334.60M	312.80M
Weighted Average Basic & Diluted Shares Outstanding	351.43M	351.38M	352.03M	350.34M	346.95M	340.29M	339.88M	338.34M	317.61M	307.86M	304.86M

This table details how cash moves in and out of Fortive's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.00	803	159	216	27	620	-1,006	-110	1,180	-1,076	-438
Net Cash From Operating Activities	1,009	1,137	1,176	1,344	1,271	1,437	961	1,303	1,354	1,527	1,083
Net Cash From Continuing Operating Activities	1,009	982	1,020	684	702	978	993	1,303	833	1,029	1,036
Net Income / (Loss) Continuing Operations	864	740	884	490	268	1,452	614	755	408	483	533
Consolidated Net Income / (Loss)	864	-	884	490	268	-	614	755	866	833	579
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	-	-	457	350	47
Depreciation Expense	88	76	93	70	81	74	75	84	59	62	70
Amortization Expense	89	85	65	105	261	310	321	382	367	369	368
Non-Cash Adjustments To Reconcile Net Income	47	46	23	41	12	-1,062	95	120	112	130	117
Changes in Operating Assets and Liabilities, net	-79	36	-46	-22	81	203	-112	-38	-113	-14	-51
Net Cash From Discontinued Operating Activities	-	155	156	660	569	459	-32	-	520	498	48
Net Cash From Investing Activities	-174	-311	-1,670	-1,967	-4,055	-148	-2,616	-103	-195	-1,796	-135
Net Cash From Continuing Investing Activities	-174	-291	-1,645	-2,846	-4,014	-111	-2,616	-103	-173	-89	-120
Purchase of Property, Plant & Equipment	-120	-110	-111	-70	-75	-76	-50	-96	-79	-86	-105
Acquisitions	-37	-190	-1,557	-2,779	-3,940	-40	-2,570	-13	-96	-3.60	-26
Other Investing Activities, net	-19	0.00	1.50	2.20	-	0.00	0.00	-3.50	1.40	0.90	11
Net Cash From Discontinued Investing Activities	-	-20	-25	880	-40	-38	-	-	-22	-1,707	-16
Net Cash From Financing Activities	-835	3.80	600	879	2,803	-696	652	-1,273	32	-793	-1,387
Net Cash From Continuing Financing Activities	-835	2.40	598	873	2,813	-676	652	-1,273	32	-793	-1,226
Repayment of Debt	0.00	0.30	0.00	-2,116	40	-1,710	-581	-2,163	-982	-929	-675
Repurchase of Common Equity	-	-	-	-	-	0.00	0.00	-443	-273	-890	-1,610
Payment of Dividends	0.00	-3,048	-97	-132	-163	-163	-132	-100	-102	-111	-92
Issuance of Debt	0.00	3,352	696	1,783	2,936	-400	1,365	1,433	1,389	1,137	0.90
Other Financing Activities, net	-835	-301	-	0.00	0.00	1,598	-	-	0.00	0.00	1,150
Net Cash From Discontinued Financing Activities	-	1.40	1.40	5.90	-10	-20	-	-	0.00	0.00	-160
Effect of Exchange Rate Changes	0.00	-27	-	-	7.10	27	-	-	-11	-14	1.00

This table details how cash moves in and out of Fortive's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
Net Change in Cash & Equivalents	1.30	1,175	-1,184	-61	167	2.00	79	941	-1,402	-55	-19
Net Cash From Operating Activities	411	447	257	309	459	502	242	311	164	366	235
Net Cash From Continuing Operating Activities	411	447	257	309	459	502	192	311	139	344	220
Net Income / (Loss) Continuing Operations	218	265	207	195	222	209	113	167	2.70	192	136
Consolidated Net Income / (Loss)	218	265	207	195	222	209	172	167	55	186	136
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	59	-	-	-5.80	0.00
Depreciation Expense	22	23	23	23	23	22	17	24	4.30	18	20
Amortization Expense	93	93	114	113	113	113	91	114	49	93	93
Non-Cash Adjustments To Reconcile Net Income	42	33	-34	50	67	28	23	27	42	20	21
Changes in Operating Assets and Liabilities, net	36	33	-53	-73	34	130	-52	-21	40	22	-51
Net Cash From Discontinued Operating Activities	-	-	-	-	-	-	50	-	-	22	14
Net Cash From Investing Activities	-83	-71	-1,737	-45	-18	3.80	-26	-25	-28	-56	-27
Net Cash From Continuing Investing Activities	-83	-71	-1,737	-45	-18	3.80	-22	-25	-13	-56	-27
Purchase of Property, Plant & Equipment	-28	-34	-26	-29	-28	-37	-21	-37	-11	-30	-27
Other Investing Activities, net	-	0.80	0.00	-	-	0.60	-1.00	12	-0.10	0.40	-0.10
Net Cash From Discontinued Investing Activities	-	-	-	-	-	-	-4.10	-	-	-0.10	0.00
Net Cash From Financing Activities	-325	799	307	-322	-282	-496	-141	650	-1,532	-364	-229
Net Cash From Continuing Financing Activities	-325	799	307	-322	-282	-496	-141	650	-1,372	-364	-229
Repayment of Debt	-238	-750	-975	6.50	16	-644	8.10	6.30	-715	25	-302
Repurchase of Common Equity	-79	-65	0.00	-	-270	-467	-203	-142	-1,001	-265	-500
Payment of Dividends	-25	-28	-28	-28	-28	-27	-27	-27	-19	-19	-18
Issuance of Debt	16	1,642	1,310	-148	0.30	642	81	813	-788	-105	592
Net Cash From Discontinued Financing Activities	-	-	-	-	-	-	0.00	-	-	-	0.00
Effect of Exchange Rate Changes	-1.90	0.50	-10	-2.60	7.40	-8.00	4.30	3.70	-5.50	-1.50	1.00

This table presents Fortive's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	7,211	8,190	10,501	12,906	17,439	16,052	16,466	15,891	16,912	17,016	11,738
Total Current Assets	1,594	2,489	2,937	3,171	3,689	4,447	2,515	2,477	3,672	2,592	1,606
Cash & Equivalents	0.00	803	962	1,178	1,205	1,825	819	709	1,889	813	376
Accounts Receivable	979	945	1,021	1,195	891	810	930	959	961	661	684
Inventories, net	523	545	507	575	416	456	513	537	537	270	292
Prepaid Expenses	92	196	244	193	339	207	253	273	285	234	234
Other Current Nonoperating Assets	-	-	204	30	838	30	-	-	-	614	21
Plant, Property, & Equipment, net	515	548	610	576	416	422	396	422	440	233	270
Total Noncurrent Assets	5,102	5,154	6,953	9,158	13,334	11,183	13,555	12,992	12,800	14,191	9,862
Goodwill	3,949	3,979	4,560	6,133	7,242	7,359	9,152	9,049	9,122	7,216	7,298
Intangible Assets	759	747	1,256	2,476	3,571	3,291	3,890	3,487	3,160	2,531	2,188
Other Noncurrent Operating Assets	394	427	470	549	514	533	513	456	519	348	376
Total Liabilities & Shareholders' Equity	7,211	8,190	10,501	12,906	17,439	16,052	16,466	15,891	16,912	17,016	11,738
Total Liabilities	2,028	5,499	6,692	6,293	10,039	7,079	6,949	6,202	6,587	6,821	5,277
Total Current Liabilities	1,324	1,467	1,602	2,192	3,467	2,861	3,715	2,727	1,791	2,238	2,247
Short-Term Debt	-	-	0.00	456	1,500	1,400	2,152	1,000	0.00	376	900
Accounts Payable	657	666	629	707	449	481	558	623	609	425	436
Accrued Expenses	666	800	815	999	798	900	1,005	1,104	1,183	868	911
Total Noncurrent Liabilities	705	4,032	5,090	4,101	6,572	4,218	3,234	3,475	4,795	4,582	3,030
Long-Term Debt	0.00	3,358	4,056	2,975	4,826	2,830	1,807	2,252	3,646	3,331	2,307
Other Noncurrent Operating Liabilities	705	674	970	1,126	1,473	1,388	1,426	1,223	1,149	847	724
Total Equity & Noncontrolling Interests	5,183	2,691	3,808	6,613	7,400	8,973	9,517	9,689	10,325	10,196	6,461
Total Preferred & Common Equity	5,180	2,688	3,790	6,596	7,387	8,964	9,512	9,683	10,319	10,189	6,453
Total Common Equity	5,180	2,688	3,790	6,596	7,387	8,964	9,512	9,683	10,319	10,189	6,453
Common Stock	0.00	2,431	2,448	3,129	3,315	3,558	3,674	3,710	3,855	4,039	4,214
Retained Earnings	0.00	403	1,350	3,553	4,129	5,547	6,024	6,742	7,506	8,228	5,429
Treasury Stock	-	-	-	-	-	-	0.00	-443	-716	-1,612	-3,230
Accumulated Other Comprehensive Income / (Loss)	-14	-146	-7.60	-87	-56	-141	-185	-326	-326	-465	41
Noncontrolling Interest	3.00	3.10	18	17	13	8.50	4.80	5.20	6.40	7.00	7.70

This table presents Fortive's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	4/3/2026
Total Assets	15,731	15,664	16,912	17,520	17,285	17,454	17,016	17,137	18,244	11,887	11,584
Total Current Assets	2,475	2,469	3,672	2,614	2,520	2,635	2,592	2,704	3,683	1,732	1,547
Cash & Equivalents	713	714	1,889	705	644	811	813	892	1,833	431	356
Accounts Receivable	935	925	961	963	935	912	945	929	912	634	647
Inventories, net	561	553	537	581	572	564	545	568	610	311	306
Prepaid Expenses	265	277	285	366	369	348	289	315	328	303	234
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	53	4.80
Plant, Property, & Equipment, net	426	431	440	423	418	425	433	434	448	259	276
Total Noncurrent Assets	12,830	12,764	12,800	14,484	14,348	14,393	13,991	13,999	14,113	9,896	9,761
Goodwill	9,052	9,059	9,122	10,235	10,217	10,322	10,156	10,245	10,404	7,276	7,289
Intangible Assets	3,304	3,226	3,160	3,713	3,591	3,510	3,340	3,259	3,200	2,268	2,094
Other Noncurrent Operating Assets	474	479	519	536	540	561	495	496	509	349	379
Total Liabilities & Shareholders' Equity	15,731	15,664	16,912	17,520	17,285	17,454	17,016	17,137	18,244	11,887	11,584
Total Liabilities	5,759	5,581	6,587	7,037	6,779	6,892	6,821	6,894	7,855	5,375	5,493
Total Current Liabilities	2,585	2,420	1,791	1,739	2,046	2,101	2,238	2,726	3,746	2,470	2,185
Short-Term Debt	1,000	750	0.00	-	384	408	376	934	1,906	1,189	900
Accounts Payable	586	575	609	667	636	624	677	669	701	428	416
Accrued Expenses	1,000	1,095	1,183	1,072	1,026	1,069	1,185	1,123	1,139	853	870
Total Noncurrent Liabilities	3,174	3,161	4,795	5,298	4,733	4,791	4,582	4,168	4,109	2,906	3,307
Long-Term Debt	1,978	1,982	3,646	3,942	3,396	3,452	3,331	2,929	2,907	2,117	2,589
Other Noncurrent Operating Liabilities	1,196	1,179	1,149	1,357	1,337	1,340	1,251	1,239	1,203	789	718
Total Equity & Noncontrolling Interests	9,972	10,084	10,325	10,483	10,506	10,562	10,196	10,243	10,389	6,512	6,091
Total Preferred & Common Equity	9,966	10,078	10,319	10,477	10,499	10,555	10,189	10,236	10,382	6,504	6,083
Total Common Equity	9,966	10,078	10,319	10,477	10,499	10,555	10,189	10,236	10,382	6,504	6,083
Common Stock	3,782	3,826	3,855	3,910	3,941	3,986	4,039	4,075	4,110	4,168	4,229
Retained Earnings	7,075	7,269	7,506	7,685	7,852	8,046	8,228	8,372	8,512	5,264	5,547
Treasury Stock	-572	-651	-716	-716	-870	-1,143	-1,612	-1,816	-1,952	-2,963	-3,734
Accumulated Other Comprehensive Income / (Loss)	-320	-366	-326	-403	-424	-334	-465	-395	-287	34	42
Noncontrolling Interest	6.00	5.80	6.40	6.40	6.50	6.60	7.00	6.90	7.10	7.60	8.30

This table displays calculated financial ratios and metrics derived from Fortive's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.50%	-12.96%	7.03%	-33.98%	20.09%	1.54%	13.38%	10.87%	4.11%	2.75%	1.92%
EBITDA Growth	-0.73%	-15.82%	7.19%	-37.39%	-4.55%	18.08%	32.91%	17.43%	9.30%	6.06%	6.45%
EBIT Growth	-0.74%	-16.76%	8.52%	-43.94%	-31.80%	22.46%	54.30%	17.28%	14.66%	0.73%	9.65%
NOPAT Growth	0.44%	-9.97%	21.06%	-40.62%	-36.78%	46.99%	41.83%	15.85%	16.05%	4.62%	-6.67%
Net Income Growth	-2.22%	0.98%	19.74%	178.97%	-74.64%	118.34%	-62.29%	24.13%	14.65%	-3.80%	-30.46%
EPS Growth	-2.34%	0.40%	17.93%	178.97%	-74.64%	127.92%	-63.70%	28.83%	15.71%	-2.88%	-26.69%
Operating Cash Flow Growth	6.58%	12.68%	3.47%	14.28%	-5.43%	13.00%	-33.10%	35.59%	3.87%	12.80%	-29.05%
Free Cash Flow Firm Growth	0.00%	116.54%	-109.27%	-2,999.37%	31.48%	162.81%	-287.67%	177.18%	-11.02%	-97.40%	-78.97%
Invested Capital Growth	0.00%	1.22%	19.21%	41.77%	19.85%	-3.43%	23.34%	-3.37%	-1.21%	8.33%	-0.86%
Revenue Q/Q Growth	0.00%	0.00%	2.23%	-32.16%	3.19%	81.33%	0.96%	2.74%	0.90%	0.59%	-32.61%
EBITDA Q/Q Growth	0.00%	0.00%	0.76%	-33.61%	0.03%	123.60%	2.70%	7.54%	1.03%	1.27%	-27.30%
EBIT Q/Q Growth	0.00%	0.00%	-0.68%	-36.58%	-6.50%	520.81%	2.37%	9.98%	1.54%	0.16%	-31.09%
NOPAT Q/Q Growth	0.00%	0.00%	9.50%	-40.16%	-18.98%	719.21%	-3.60%	8.21%	4.27%	-6.37%	-27.15%
Net Income Q/Q Growth	0.00%	0.00%	12.06%	155.96%	-72.21%	173.21%	-63.33%	8.98%	4.59%	-6.34%	-3.84%
EPS Q/Q Growth	0.00%	0.00%	0.00%	155.96%	-72.21%	191.56%	-63.62%	7.69%	3.40%	-5.60%	-1.14%
Operating Cash Flow Q/Q Growth	0.00%	-5.83%	14.16%	-1.36%	2.47%	-11.72%	-1.04%	17.03%	-1.27%	3.77%	-11.18%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	18.95%	28.73%	210.32%	-220.70%	833.45%	3.71%	107.37%	-86.07%
Invested Capital Q/Q Growth	0.00%	0.00%	0.23%	-8.66%	-12.30%	-13.73%	12.15%	-0.15%	-0.16%	-3.82%	-0.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.55%	49.93%	50.75%	57.53%	54.41%	56.29%	57.23%	57.73%	59.26%	59.87%	63.50%
EBITDA Margin	23.41%	22.64%	22.68%	21.50%	17.09%	19.87%	23.30%	24.67%	25.90%	26.74%	27.90%
Operating Margin	20.55%	19.74%	19.86%	16.98%	9.73%	11.64%	15.47%	16.95%	18.69%	19.36%	17.32%
EBIT Margin	20.55%	19.65%	19.93%	16.92%	9.61%	11.59%	15.77%	16.68%	18.37%	18.01%	17.38%
Profit (Net Income) Margin	13.98%	16.22%	18.15%	76.67%	16.19%	34.81%	11.58%	12.96%	14.27%	13.37%	13.93%
Tax Burden Percent	68.03%	86.32%	97.29%	514.99%	219.45%	107.00%	89.80%	86.46%	87.38%	85.90%	96.18%
Interest Burden Percent	100.00%	95.61%	93.60%	87.99%	76.78%	280.76%	81.76%	89.88%	88.92%	86.39%	83.33%
Effective Tax Rate	31.97%	26.75%	17.63%	13.36%	20.37%	3.68%	9.34%	13.54%	12.62%	14.10%	11.54%
Return on Invested Capital (ROIC)	33.34%	14.92%	16.37%	7.40%	3.63%	4.97%	6.43%	6.86%	8.15%	8.24%	6.84%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	22.32%	20.50%	107.64%	17.70%	53.43%	0.63%	3.39%	2.34%	-0.52%	0.95%
Return on Net Nonoperating Assets (RNNOA)	0.00%	7.24%	15.77%	48.53%	6.92%	14.73%	0.15%	1.00%	0.50%	-0.12%	0.11%
Return on Equity (ROE)	0.00%	22.16%	32.14%	55.92%	10.55%	19.71%	6.58%	7.86%	8.65%	8.12%	6.95%
Cash Return on Invested Capital (CROIC)	-166.66%	13.70%	-1.15%	-27.16%	-14.43%	8.46%	-14.47%	10.28%	9.37%	0.24%	7.71%
Operating Return on Assets (OROA)	17.61%	13.73%	12.27%	5.49%	2.89%	3.21%	5.10%	6.01%	6.79%	6.62%	5.03%
Return on Assets (ROA)	11.98%	11.33%	11.18%	24.90%	4.87%	9.63%	3.74%	4.67%	5.28%	4.91%	4.03%
Return on Common Equity (ROCE)	0.00%	22.14%	32.04%	55.73%	10.52%	19.68%	6.58%	7.86%	8.65%	8.11%	6.95%
Return on Equity Simple (ROE_SIMPLE)	16.68%	32.45%	27.56%	44.18%	10.00%	18.00%	6.40%	7.80%	8.39%	8.17%	0.00%
Net Operating Profit after Tax (NOPAT)	864	778	941	559	353	520	737	854	991	1,036	637
NOPAT Margin	13.98%	14.46%	16.36%	14.71%	7.74%	11.21%	14.02%	14.65%	16.33%	16.63%	15.32%
Net Nonoperating Expense Percent (NNEP)	0.00%	-7.41%	-4.12%	-100.25%	-14.07%	-48.46%	5.80%	3.47%	5.81%	8.75%	5.89%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.60%	7.09%	7.46%	6.59%
Cost of Revenue to Revenue	51.45%	50.07%	49.25%	42.47%	45.59%	43.71%	42.77%	42.27%	40.74%	40.13%	36.50%
SG&A Expenses to Revenue	21.89%	23.67%	24.48%	33.23%	37.67%	37.73%	35.01%	33.59%	34.01%	34.88%	39.95%
R&D to Revenue	6.11%	6.53%	6.42%	7.32%	7.02%	6.92%	6.75%	6.89%	6.56%	6.64%	6.23%
Operating Expenses to Revenue	28.00%	30.19%	30.90%	40.55%	44.68%	44.65%	41.76%	40.78%	40.57%	40.51%	46.19%
Earnings before Interest and Taxes (EBIT)	1,270	1,057	1,147	643	439	537	829	972	1,114	1,122	723
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,447	1,218	1,305	817	780	921	1,224	1,437	1,571	1,666	1,160
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	6.69	6.46	3.35	3.41	2.63	2.85	2.33	2.50	2.55	2.72
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	3.34	4.26	5.81	5.52	5.08	5.15	3.87	4.25	4.18	4.22
Price to Earnings (P/E)	0.00	20.62	23.46	7.68	37.59	15.24	47.16	29.85	29.76	31.24	30.28
Dividend Yield	0.00%	0.27%	0.40%	0.42%	0.37%	0.35%	0.37%	0.44%	0.40%	0.43%	30.85%
Earnings Yield	0.00%	4.85%	4.26%	13.03%	2.66%	6.56%	2.12%	3.35%	3.36%	3.20%	3.30%
Enterprise Value to Invested Capital (EV/IC)	0.00	3.92	4.42	2.75	2.85	2.42	2.39	2.05	2.28	2.21	2.20
Enterprise Value to Revenue (EV/Rev)	0.00	3.82	4.80	6.41	6.64	5.36	5.75	4.31	4.54	4.64	4.90
Enterprise Value to EBITDA (EV/EBITDA)	0.00	16.87	21.15	29.82	38.86	26.96	24.68	17.46	17.52	17.36	17.56
Enterprise Value to EBIT (EV/EBIT)	0.00	19.44	24.07	37.89	69.13	46.24	36.46	25.82	24.71	25.77	28.19
Enterprise Value to NOPAT (EV/NOPAT)	0.00	26.42	29.33	43.58	85.76	47.79	41.00	29.39	27.79	27.90	31.98
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	18.07	23.47	18.12	23.84	17.28	31.43	19.25	20.34	18.94	18.81
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	28.76	0.00	0.00	0.00	28.10	0.00	19.61	24.18	977.55	28.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.25	1.07	0.52	0.85	0.47	0.42	0.34	0.35	0.36	0.50
Long-Term Debt to Equity	0.00	1.25	1.07	0.45	0.65	0.32	0.19	0.23	0.35	0.33	0.36
Financial Leverage	0.00	0.32	0.77	0.45	0.39	0.28	0.24	0.30	0.21	0.23	0.12
Leverage Ratio	1.39	1.96	2.88	2.25	2.17	2.05	1.76	1.68	1.64	1.65	1.73
Compound Leverage Factor	1.39	1.87	2.69	1.98	1.66	5.74	1.44	1.51	1.46	1.43	1.44
Debt to Total Capital	0.00%	55.51%	51.58%	34.16%	46.09%	32.04%	29.38%	25.13%	26.10%	26.67%	33.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	4.54%	10.93%	10.60%	15.97%	7.73%	0.00%	2.71%	9.30%
Long-Term Debt to Total Capital	0.00%	55.51%	51.58%	29.62%	35.16%	21.44%	13.41%	17.40%	26.10%	23.96%	23.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.06%	0.05%	0.23%	0.17%	0.10%	0.06%	0.04%	0.04%	0.05%	0.05%	0.08%
Common Equity to Total Capital	99.94%	44.44%	48.20%	65.67%	53.82%	67.90%	70.59%	74.83%	73.86%	73.28%	66.76%
Debt to EBITDA	0.00	2.76	3.11	4.20	8.11	4.59	3.23	2.26	2.32	2.22	2.76
Net Debt to EBITDA	0.00	2.10	2.37	2.76	6.57	1.40	2.56	1.77	1.12	1.74	2.44
Long-Term Debt to EBITDA	0.00	2.76	3.11	3.64	6.19	3.07	1.48	1.57	2.32	2.00	1.99
Debt to NOPAT	0.00	4.32	4.31	6.14	17.90	8.14	5.37	3.81	3.68	3.58	5.03
Net Debt to NOPAT	0.00	3.29	3.29	4.03	14.49	2.48	4.26	2.98	1.77	2.79	4.44
Long-Term Debt to NOPAT	0.00	4.32	4.31	5.32	13.65	5.45	2.45	2.64	3.68	3.21	3.62
Altman Z-Score	0.00	3.26	3.44	3.04	2.20	3.00	3.25	3.32	3.68	3.57	3.13
Noncontrolling Interest Sharing Ratio	0.06%	0.08%	0.32%	0.34%	0.22%	0.13%	0.07%	0.05%	0.06%	0.07%	0.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.70	1.83	1.45	1.06	1.55	0.68	0.91	2.05	1.16	0.71
Quick Ratio	0.74	1.19	1.24	1.08	0.60	1.31	0.47	0.61	1.59	0.79	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4,319	714	-66	-2,053	-1,407	884	-1,658	1,280	1,139	30	718
Operating Cash Flow to CapEx	840.13%	1,032.61%	1,058.87%	1,923.32%	1,706.58%	2,040.77%	2,112.31%	1,360.33%	1,348.21%	2,579.05%	1,030.64%
Free Cash Flow to Firm to Interest Expense	0.00	15.40	-0.75	-26.59	-9.86	5.95	-7.97	13.02	9.22	0.19	5.96
Operating Cash Flow to Interest Expense	0.00	24.50	13.26	17.41	8.92	9.67	4.62	13.26	10.96	9.99	8.99
Operating Cash Flow Less CapEx to Interest Expense	0.00	22.13	12.01	16.51	8.39	9.20	4.40	12.28	10.15	9.60	8.12
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.86	0.70	0.62	0.32	0.30	0.28	0.32	0.36	0.37	0.37	0.29
Accounts Receivable Turnover	6.31	5.59	5.86	3.43	4.38	5.45	6.04	6.17	6.32	6.54	6.19
Inventory Turnover	6.08	5.04	5.39	2.99	4.20	4.65	4.64	4.69	4.60	4.62	5.41
Fixed Asset Turnover	12.00	10.12	9.94	6.41	9.20	11.06	12.86	14.25	14.08	14.28	16.55
Accounts Payable Turnover	4.84	4.07	4.38	2.42	3.60	4.36	4.33	4.17	4.01	3.89	3.52
Days Sales Outstanding (DSO)	57.85	65.31	62.33	106.40	83.41	66.98	60.45	59.17	57.75	55.82	59.01
Days Inventory Outstanding (DIO)	60.04	72.35	67.68	122.24	86.90	78.53	78.62	77.78	79.29	78.94	67.52
Days Payable Outstanding (DPO)	75.45	89.69	83.39	150.99	101.35	83.76	84.34	87.53	90.95	93.85	103.61
Cash Conversion Cycle (CCC)	42.44	47.97	46.63	77.65	68.95	61.75	54.72	49.42	46.08	40.91	22.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,183	5,246	6,254	8,866	10,626	10,262	12,657	12,231	12,083	13,090	9,271
Invested Capital Turnover	2.38	1.03	1.00	0.50	0.47	0.44	0.46	0.47	0.50	0.50	0.45
Increase / (Decrease) in Invested Capital	5,183	63	1,008	2,612	1,760	-364	2,395	-426	-148	1,007	-81
Enterprise Value (EV)	0.00	20,546	27,613	24,366	30,313	24,829	30,209	25,090	27,533	28,922	20,374
Market Capitalization	0.00	17,988	24,501	22,096	25,179	23,535	27,064	22,543	25,769	26,021	17,535
Book Value per Share	$15.00	$7.77	$10.91	$19.75	$22.00	$26.58	$26.53	$27.37	$29.36	$29.37	$20.32
Tangible Book Value per Share	$1.37	($5.90)	($5.83)	($6.03)	($10.20)	($5.00)	($9.84)	($8.06)	($5.58)	($9.53)	($9.55)
Total Capital	5,183	6,049	7,864	10,043	13,726	13,203	13,476	12,940	13,972	13,903	9,667
Total Debt	0.00	3,358	4,056	3,430	6,326	4,230	3,959	3,251	3,646	3,707	3,206
Total Long-Term Debt	0.00	3,358	4,056	2,975	4,826	2,830	1,807	2,252	3,646	3,331	2,307
Net Debt	0.00	2,555	3,094	2,252	5,121	1,286	3,140	2,542	1,757	2,894	2,831
Capital Expenditures (CapEx)	120	110	111	70	75	70	46	96	100	59	105
Debt-free, Cash-free Net Working Capital (DFCFNWC)	271	219	372	256	516	42	132	40	-8.50	-83	-117
Debt-free Net Working Capital (DFNWC)	271	1,022	1,335	1,435	1,722	2,986	952	750	1,880	730	259
Net Working Capital (NWC)	271	1,022	1,335	979	222	1,586	-1,200	-250	1,880	354	-641
Net Nonoperating Expense (NNE)	0.00	-95	-103	-2,355	-385	-1,094	128	98	125	204	58
Net Nonoperating Obligations (NNO)	0.00	2,555	2,445	2,253	3,226	1,289	3,140	2,542	1,757	2,894	2,810
Total Depreciation and Amortization (D&A)	177	161	158	174	342	384	396	466	457	544	438
Debt-free, Cash-free Net Working Capital to Revenue	4.38%	4.07%	6.47%	6.74%	11.31%	0.90%	2.52%	0.69%	-0.14%	-1.34%	-2.81%
Debt-free Net Working Capital to Revenue	4.38%	19.01%	23.18%	37.75%	37.72%	64.43%	18.11%	12.87%	31.00%	11.72%	6.22%
Net Working Capital to Revenue	4.38%	19.01%	23.18%	25.76%	4.86%	34.22%	-22.84%	-4.29%	31.00%	5.68%	-15.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$7.01	$1.67	$4.58	$1.64	$2.12	$2.46	$2.39	$1.74
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	410.79M	399.26M	337.40M	349M	356.40M	352.50M	349.20M	332M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$6.91	$1.66	$4.49	$1.63	$2.10	$2.43	$2.36	$1.73
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	416.98M	404.25M	359M	352.30M	360.80M	355.60M	352.80M	334.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	397.87M	399.99M	338.07M	359.07M	353.20M	351.38M	340.29M	307.86M
Normalized Net Operating Profit after Tax (NOPAT)	864	778	941	559	353	520	737	854	991	982	637
Normalized NOPAT Margin	13.98%	14.46%	16.36%	14.71%	7.74%	11.21%	14.02%	14.65%	16.33%	15.76%	15.32%
Pre Tax Income Margin	20.55%	18.79%	18.65%	14.89%	7.38%	32.53%	12.89%	14.99%	16.34%	15.56%	14.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	22.78	12.93	8.33	3.08	3.62	3.98	9.89	9.02	7.35	6.00
NOPAT to Interest Expense	0.00	16.76	10.61	7.24	2.48	3.50	3.54	8.68	8.02	6.78	5.29
EBIT Less CapEx to Interest Expense	0.00	20.41	11.68	7.42	2.55	3.14	3.76	8.91	8.21	6.96	5.13
NOPAT Less CapEx to Interest Expense	0.00	14.39	9.36	6.34	1.96	3.02	3.32	7.71	7.21	6.40	4.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	349.47%	9.31%	4.51%	22.03%	10.13%	21.73%	13.18%	11.78%	13.35%	15.92%
Augmented Payout Ratio	0.00%	349.47%	9.31%	4.51%	22.03%	10.13%	21.73%	71.82%	43.30%	120.16%	293.91%

This table displays calculated financial ratios and metrics derived from Fortive's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/29/2023	12/31/2023	3/29/2024	6/28/2024	9/27/2024	12/31/2024	3/28/2025	6/27/2025	9/26/2025	12/31/2025	4/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	307,859,190.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	307,859,190.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.44
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.64%	3.52%	4.37%	1.70%	2.68%	2.31%	-3.30%	-2.16%	2.33%	46,233.33%	7.68%
EBITDA Growth	11.93%	3.94%	18.28%	1.74%	0.82%	4.96%	-11.21%	-10.40%	9.35%	185.85%	12.82%
EBIT Growth	17.63%	5.85%	16.86%	-5.68%	-6.17%	0.59%	-16.04%	-16.19%	9.71%	422.46%	17.80%
NOPAT Growth	12.23%	15.53%	32.08%	5.89%	14.25%	-21.44%	-25.56%	-25.11%	-21.31%	362.33%	14.81%
Net Income Growth	14.80%	16.73%	19.47%	-6.65%	1.65%	-21.27%	-17.12%	-14.61%	-75.18%	-11.06%	-20.65%
EPS Growth	15.09%	15.63%	18.37%	-6.78%	3.28%	-18.92%	-13.79%	-10.91%	-74.60%	-3.33%	-12.00%
Operating Cash Flow Growth	24.74%	-3.75%	47.19%	-3.77%	11.57%	12.40%	-5.84%	0.74%	-64.18%	-27.14%	-2.85%
Free Cash Flow Firm Growth	153.08%	-34.84%	-319.35%	-352.39%	-410.82%	-273.77%	161.08%	140.62%	431.47%	-92.92%	543.77%
Invested Capital Growth	-1.21%	-1.21%	11.57%	11.48%	12.47%	8.33%	-3.69%	-2.00%	-31.44%	-0.86%	-30.23%
Revenue Q/Q Growth	-2.09%	5.97%	-3.74%	1.83%	-1.15%	5.58%	-9.02%	3.03%	-32.37%	-86.47%	669.35%
EBITDA Q/Q Growth	1.18%	4.98%	-1.64%	-2.63%	0.27%	9.28%	-16.79%	-1.74%	-40.87%	0.98%	42.90%
EBIT Q/Q Growth	1.20%	6.66%	-9.15%	-3.81%	0.67%	14.34%	-24.17%	-3.98%	-28.42%	-34.66%	86.26%
NOPAT Q/Q Growth	1.52%	20.37%	-9.85%	-3.88%	9.54%	-17.23%	-14.58%	-3.30%	-28.26%	-20.74%	45.79%
Net Income Q/Q Growth	4.31%	21.65%	-21.79%	-5.93%	13.58%	-5.78%	-17.67%	-3.08%	-66.99%	237.64%	-26.55%
EPS Q/Q Growth	3.39%	21.31%	-21.62%	-5.17%	14.55%	-4.76%	-16.67%	-2.00%	-67.35%	262.50%	-24.14%
Operating Cash Flow Q/Q Growth	28.16%	8.60%	-42.55%	20.34%	48.59%	9.41%	-51.87%	28.75%	-47.17%	122.57%	-35.83%
Free Cash Flow Firm Q/Q Growth	-13.20%	12.79%	-359.49%	0.66%	-6.90%	36.94%	191.21%	-33.93%	847.82%	-95.69%	2,081.57%
Invested Capital Q/Q Growth	-1.11%	-0.16%	13.55%	-0.57%	-0.23%	-3.82%	0.95%	1.17%	-30.21%	-0.64%	-0.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.75%	59.83%	59.31%	59.80%	60.04%	60.31%	59.75%	58.97%	63.21%	154.89%	63.17%
EBITDA Margin	26.88%	26.63%	27.21%	26.02%	26.39%	27.32%	24.98%	23.83%	20.84%	155.47%	28.88%
Operating Margin	19.48%	19.63%	19.82%	19.44%	19.26%	18.95%	15.85%	14.63%	15.54%	75.40%	17.93%
EBIT Margin	19.20%	19.32%	18.24%	17.22%	17.54%	19.00%	15.83%	14.76%	15.62%	75.40%	18.25%
Profit (Net Income) Margin	14.59%	16.75%	13.60%	12.57%	14.44%	12.89%	11.66%	10.97%	5.35%	133.60%	12.75%
Tax Burden Percent	84.79%	95.57%	88.63%	85.31%	95.44%	76.01%	85.35%	86.77%	40.74%	251.63%	83.37%
Interest Burden Percent	89.61%	90.69%	84.17%	85.53%	86.26%	89.25%	86.29%	85.68%	84.16%	70.42%	83.81%
Effective Tax Rate	15.21%	4.43%	11.37%	14.69%	4.57%	23.99%	14.65%	13.23%	13.33%	-4.61%	16.63%
Return on Invested Capital (ROIC)	8.15%	9.36%	8.28%	7.89%	8.86%	7.13%	6.21%	5.78%	7.25%	35.23%	5.64%
ROIC Less NNEP Spread (ROIC-NNEP)	6.97%	7.88%	6.14%	5.58%	6.47%	6.07%	5.32%	4.92%	4.41%	42.97%	4.88%
Return on Net Nonoperating Assets (RNNOA)	1.74%	1.69%	1.71%	1.47%	1.59%	1.38%	1.59%	1.44%	1.51%	5.07%	1.82%
Return on Equity (ROE)	9.90%	11.05%	9.98%	9.36%	10.44%	8.51%	7.80%	7.22%	8.76%	40.30%	7.46%
Cash Return on Invested Capital (CROIC)	9.02%	9.37%	-2.82%	-2.58%	-3.12%	0.24%	10.95%	8.72%	44.93%	7.71%	41.47%
Operating Return on Assets (OROA)	7.31%	7.15%	6.71%	6.42%	6.56%	6.98%	5.65%	5.11%	6.57%	21.81%	5.38%
Return on Assets (ROA)	5.56%	6.19%	5.00%	4.69%	5.40%	4.73%	4.16%	3.80%	2.25%	38.65%	3.76%
Return on Common Equity (ROCE)	9.89%	11.05%	9.98%	9.36%	10.44%	8.50%	7.80%	7.21%	8.75%	40.26%	7.46%
Return on Equity Simple (ROE_SIMPLE)	8.21%	0.00%	8.59%	8.44%	8.43%	0.00%	7.79%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	247	297	268	257	282	233	199	193	138	110	160
NOPAT Margin	16.52%	18.76%	17.57%	16.58%	18.38%	14.41%	13.52%	12.69%	13.47%	78.87%	14.95%
Net Nonoperating Expense Percent (NNEP)	1.18%	1.48%	2.14%	2.31%	2.38%	1.06%	0.89%	0.86%	2.84%	-7.74%	0.77%
Return On Investment Capital (ROIC_SIMPLE)	-	2.13%	-	-	-	1.68%	1.41%	1.27%	1.41%	1.13%	1.67%
Cost of Revenue to Revenue	40.25%	40.17%	40.69%	40.20%	39.96%	39.69%	40.25%	41.03%	36.79%	-54.89%	36.83%
SG&A Expenses to Revenue	33.69%	33.93%	36.80%	33.84%	34.15%	34.75%	36.78%	37.15%	41.63%	91.80%	39.02%
R&D to Revenue	6.58%	6.26%	6.83%	6.51%	6.63%	6.61%	7.13%	7.19%	6.04%	-12.30%	6.22%
Operating Expenses to Revenue	40.27%	40.20%	39.49%	40.36%	40.78%	41.36%	43.91%	44.34%	47.67%	79.50%	45.24%
Earnings before Interest and Taxes (EBIT)	287	306	278	267	269	308	233	224	160	105	195
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	402	422	415	404	405	443	368	362	214	216	309
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.58	2.50	2.88	2.48	2.63	2.55	2.41	1.80	2.52	2.72	2.84
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.32	4.25	4.93	4.24	4.48	4.18	4.00	3.03	2.66	4.22	4.08
Price to Earnings (P/E)	31.40	29.76	33.57	29.45	31.20	31.24	30.99	24.25	27.26	30.28	31.75
Dividend Yield	0.38%	0.40%	0.35%	0.42%	0.40%	0.43%	0.44%	0.58%	35.13%	30.85%	30.33%
Earnings Yield	3.18%	3.36%	2.98%	3.40%	3.21%	3.20%	3.23%	4.12%	3.67%	3.30%	3.15%
Enterprise Value to Invested Capital (EV/IC)	2.32	2.28	2.44	2.14	2.26	2.21	2.10	1.62	2.07	2.20	2.21
Enterprise Value to Revenue (EV/Rev)	4.66	4.54	5.46	4.75	4.97	4.64	4.48	3.52	3.13	4.90	4.82
Enterprise Value to EBITDA (EV/EBITDA)	18.02	17.52	20.45	17.80	18.72	17.36	17.10	13.71	12.09	17.56	17.07
Enterprise Value to EBIT (EV/EBIT)	25.53	24.71	28.97	25.68	27.49	25.77	25.69	20.91	18.41	28.19	27.13
Enterprise Value to NOPAT (EV/NOPAT)	29.49	27.79	31.69	27.29	27.83	27.90	28.60	23.93	22.07	31.98	31.05
Enterprise Value to Operating Cash Flow (EV/OCF)	20.44	20.34	23.29	20.53	20.93	18.94	18.32	14.29	15.83	18.81	18.96
Enterprise Value to Free Cash Flow (EV/FCFF)	25.52	24.18	0.00	0.00	0.00	977.55	18.78	18.37	3.75	28.38	4.39
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.27	0.35	0.38	0.36	0.37	0.36	0.38	0.46	0.51	0.50	0.57
Long-Term Debt to Equity	0.20	0.35	0.38	0.32	0.33	0.33	0.29	0.28	0.33	0.36	0.43
Financial Leverage	0.25	0.21	0.28	0.26	0.25	0.23	0.30	0.29	0.34	0.12	0.37
Leverage Ratio	1.62	1.64	1.64	1.61	1.60	1.65	1.67	1.70	1.72	1.73	1.76
Compound Leverage Factor	1.45	1.49	1.38	1.38	1.38	1.48	1.44	1.46	1.45	1.22	1.47
Debt to Total Capital	21.32%	26.10%	27.33%	26.46%	26.77%	26.67%	27.38%	31.66%	33.68%	33.16%	36.42%
Short-Term Debt to Total Capital	5.85%	0.00%	0.00%	2.69%	2.83%	2.71%	6.62%	12.54%	12.11%	9.30%	9.39%
Long-Term Debt to Total Capital	15.47%	26.10%	27.33%	23.77%	23.94%	23.96%	20.76%	19.12%	21.56%	23.86%	27.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.05%	0.05%	0.04%	0.05%	0.05%	0.05%	0.05%	0.05%	0.08%	0.08%	0.09%
Common Equity to Total Capital	78.64%	73.86%	72.63%	73.49%	73.19%	73.28%	72.57%	68.30%	66.25%	66.76%	63.49%
Debt to EBITDA	1.76	2.32	2.41	2.30	2.35	2.22	2.38	3.05	2.07	2.76	2.92
Net Debt to EBITDA	1.30	1.12	1.98	1.91	1.85	1.74	1.83	1.89	1.80	2.44	2.62
Long-Term Debt to EBITDA	1.27	2.32	2.41	2.07	2.10	2.00	1.81	1.84	1.33	1.99	2.17
Debt to NOPAT	2.88	3.68	3.73	3.53	3.49	3.58	3.99	5.32	3.78	5.03	5.31
Net Debt to NOPAT	2.12	1.77	3.07	2.93	2.75	2.79	3.07	3.30	3.29	4.44	4.77
Long-Term Debt to NOPAT	2.09	3.68	3.73	3.17	3.12	3.21	3.02	3.22	2.42	3.62	3.94
Altman Z-Score	3.89	3.52	3.65	3.38	3.50	3.42	3.24	2.45	2.94	2.96	2.91
Noncontrolling Interest Sharing Ratio	0.05%	0.06%	0.06%	0.06%	0.06%	0.07%	0.06%	0.07%	0.08%	0.09%	0.09%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.02	2.05	1.50	1.23	1.25	1.16	0.99	0.98	0.70	0.71	0.71
Quick Ratio	0.68	1.59	0.96	0.77	0.82	0.79	0.67	0.73	0.43	0.47	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	395	445	-1,155	-1,147	-1,227	-773	705	466	4,418	190	4,154
Operating Cash Flow to CapEx	1,607.03%	1,317.99%	1,645.51%	1,057.88%	2,607.95%	0.00%	966.80%	847.96%	1,304.76%	1,203.62%	882.71%
Free Cash Flow to Firm to Interest Expense	13.24	15.62	-26.25	-29.65	-33.15	-23.37	22.05	14.52	173.93	6.14	131.47
Operating Cash Flow to Interest Expense	13.81	15.68	5.83	7.98	12.41	15.17	7.55	9.69	6.47	11.80	7.43
Operating Cash Flow Less CapEx to Interest Expense	12.95	14.49	5.48	7.23	11.93	15.27	6.77	8.55	5.98	10.82	6.59
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.37	0.37	0.37	0.37	0.37	0.36	0.35	0.42	0.29	0.29
Accounts Receivable Turnover	6.58	6.32	6.44	6.58	6.74	6.54	6.53	6.66	7.98	6.19	5.37
Inventory Turnover	4.44	4.60	4.31	4.38	4.47	4.62	4.31	4.18	5.69	5.41	3.56
Fixed Asset Turnover	14.38	14.08	14.45	14.59	14.48	14.28	14.43	14.20	18.05	16.55	11.93
Accounts Payable Turnover	4.31	4.01	3.93	4.06	4.16	3.89	3.70	3.70	4.73	3.52	2.87
Days Sales Outstanding (DSO)	55.45	57.75	56.67	55.44	54.13	55.82	55.86	54.82	45.71	59.01	67.92
Days Inventory Outstanding (DIO)	82.16	79.29	84.73	83.32	81.70	78.94	84.75	87.26	64.13	67.52	102.43
Days Payable Outstanding (DPO)	84.70	90.95	92.77	89.83	87.71	93.85	98.60	98.65	77.11	103.61	127.26
Cash Conversion Cycle (CCC)	52.91	46.08	48.63	48.93	48.12	40.91	42.01	43.44	32.74	22.92	43.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,102	12,083	13,720	13,642	13,610	13,090	13,214	13,369	9,331	9,271	9,220
Invested Capital Turnover	0.49	0.50	0.47	0.48	0.48	0.50	0.46	0.46	0.54	0.45	0.38
Increase / (Decrease) in Invested Capital	-148	-148	1,423	1,405	1,509	1,007	-506	-273	-4,280	-81	-3,995
Enterprise Value (EV)	28,017	27,533	33,441	29,228	30,802	28,922	27,693	21,629	19,303	20,374	20,406
Market Capitalization	25,994	25,769	30,197	26,085	27,747	26,021	24,715	18,643	16,419	17,535	17,265
Book Value per Share	$28.63	$29.36	$29.79	$29.83	$30.13	$29.37	$30.08	$30.55	$19.22	$20.32	$19.76
Tangible Book Value per Share	($6.27)	($5.58)	($9.87)	($9.40)	($9.35)	($9.53)	($9.60)	($9.48)	($8.99)	($9.55)	($10.72)
Total Capital	12,816	13,972	14,425	14,286	14,421	13,903	14,106	15,201	9,818	9,667	9,581
Total Debt	2,732	3,646	3,942	3,780	3,860	3,707	3,863	4,812	3,306	3,206	3,489
Total Long-Term Debt	1,982	3,646	3,942	3,396	3,452	3,331	2,929	2,907	2,117	2,307	2,589
Net Debt	2,018	1,757	3,237	3,136	3,049	2,894	2,971	2,980	2,876	2,831	3,133
Capital Expenditures (CapEx)	26	34	16	29	18	-3.20	25	37	13	30	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	85	-8.50	171	214	131	-83	20	11	21	-117	-94
Debt-free Net Working Capital (DFNWC)	799	1,880	875	858	943	730	912	1,844	451	259	262
Net Working Capital (NWC)	49	1,880	875	474	534	354	-22	-62	-738	-641	-638
Net Nonoperating Expense (NNE)	29	32	60	62	60	25	27	26	83	-76	23
Net Nonoperating Obligations (NNO)	2,018	1,757	3,237	3,136	3,049	2,894	2,971	2,980	2,819	2,810	3,128
Total Depreciation and Amortization (D&A)	115	116	137	137	136	135	135	138	54	111	114
Debt-free, Cash-free Net Working Capital to Revenue	1.42%	-0.14%	2.78%	3.47%	2.12%	-1.34%	0.33%	0.18%	0.33%	-2.81%	-2.23%
Debt-free Net Working Capital to Revenue	13.29%	31.00%	14.28%	13.93%	15.21%	11.72%	14.76%	29.99%	7.31%	6.22%	6.18%
Net Working Capital to Revenue	0.82%	31.00%	14.28%	7.70%	8.63%	5.68%	-0.35%	-1.01%	-11.96%	-15.41%	-15.07%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.62	$0.76	$0.59	$0.56	$0.63	$0.61	$0.50	$0.49	$0.17	$0.58	$0.44
Adjusted Weighted Average Basic Shares Outstanding	352.10M	352.50M	351.70M	351.30M	349.20M	349.20M	341.10M	339.60M	330.80M	332M	309.60M
Adjusted Diluted Earnings per Share	$0.61	$0.74	$0.58	$0.55	$0.63	$0.60	$0.50	$0.49	$0.16	$0.58	$0.44
Adjusted Weighted Average Diluted Shares Outstanding	356.10M	355.60M	356M	354.80M	352.30M	352.80M	344.60M	341.70M	333.40M	334.60M	312.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	351.43M	351.38M	352.03M	350.34M	346.95M	340.29M	339.88M	338.34M	317.61M	307.86M	304.86M
Normalized Net Operating Profit after Tax (NOPAT)	247	297	212	257	282	233	199	193	138	73	160
Normalized NOPAT Margin	16.52%	18.76%	13.90%	16.58%	18.38%	14.41%	13.52%	12.69%	13.47%	52.78%	14.95%
Pre Tax Income Margin	17.20%	17.52%	15.35%	14.73%	15.13%	16.95%	13.66%	12.64%	13.14%	53.09%	15.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.63	10.74	6.32	6.91	7.28	9.30	7.29	6.98	6.32	3.38	6.18
NOPAT to Interest Expense	8.28	10.43	6.09	6.65	7.62	7.05	6.23	6.01	5.45	3.54	5.06
EBIT Less CapEx to Interest Expense	8.77	9.55	5.96	6.16	6.80	9.40	6.51	5.84	5.82	2.40	5.34
NOPAT Less CapEx to Interest Expense	7.42	9.24	5.73	5.90	7.15	7.15	5.45	4.86	4.95	2.56	4.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	11.91%	11.78%	11.72%	12.28%	12.59%	13.35%	13.83%	14.22%	16.72%	15.92%	15.34%
Augmented Payout Ratio	45.10%	43.30%	11.72%	45.78%	67.47%	120.16%	150.80%	154.83%	317.52%	293.91%	366.21%

Financials Breakdown Chart

Key Financial Trends

Here are MarketBeat’s concise takeaways from Fortive’s latest quarterly filings (FTV), focusing on what the data shows across the last four years. The bullets highlight trends that may matter to retail investors as they assess profitability, cash flow, and capital allocation.

Strong quarterly profitability in the latest quarter: Fortive reported net income attributable to common shareholders of $185.7 million in Q4 2025, with basic/diluted earnings per share of $0.58, signaling solid profitability to close the year.
Robust operating cash flow in Q4 2025: Net cash from continuing operating activities was about $344.2 million, and total cash from operating activities was roughly $365.9 million for the quarter, indicating meaningful cash generation from core operations.
Consistent early-2025 profitability and earnings per share: In Q2 2025, net income from continuing operations was $166.6 million with diluted EPS of $0.49, and in Q1 2025, net income from continuing operations was $171.9 million with diluted EPS around $0.49–$0.59 range, showing a steady run of profits in the first half of 2025.
Discontinued operations causing quarterly swings: Q3 2025 shows notable impact from discontinued operations (net income from discontinued operations around -$62 million), which can blur year-over-year comparisons.
Notable margin/scale signal in Q4 2025: Q4 2025 reports a total gross profit of $215.3 million on reported figures that imply a meaningful gross-margin contribution in that quarter, which stands out relative to some adjacent quarters.
Capital return via buybacks in multiple quarters: Fortive has engaged in sizable share repurchases (e.g., around $1.0 billion in Q3 2025; around $265 million in Q4 2025), which can boost per-share metrics but reduce cash and equity over time.
Balanced balance sheet context: As of late 2025, total liabilities and equity sit around $11.8B, with total equity in the $6.5B range, indicating a relatively solid and balanced capital structure amid ongoing activity.
Operational flexibility with working-capital movements: Several quarters show movements in operating assets and liabilities that influence cash flow, suggesting working-capital dynamics can swing quarterly CFO results.
Financing cash flow variability and cash-out risk: In several quarters, net cash from financing activities was negative (notably substantial in some periods), signaling outflows from debt activity and/or buybacks that can pressure cash balances.
Investing cash flow typically negative due to capex and acquisitions: Fortive’s investing activities have frequently shown negative cash flow (e.g., significant PPE purchases and acquisitions in multiple quarters), which can temper free cash flow generation in the near term.

05/08/26 11:31 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Fortive's Financials

When does Fortive's financial year end?

According to the most recent income statement we have on file, Fortive's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Fortive's net income changed over the last 10 years?

Fortive's net income appears to be on a downward trend, with a most recent value of $579.20 million in 2025, falling from $863.80 million in 2015. The previous period was $832.90 million in 2024. View Fortive's forecast to see where analysts expect Fortive to go next.

What is Fortive's operating income?

Fortive's total operating income in 2025 was $720.20 million, based on the following breakdown:

Total Gross Profit: $2.64 billion
Total Operating Expenses: $1.92 billion

How has Fortive's revenue changed over the last 10 years?

Over the last 10 years, Fortive's total revenue changed from $6.18 billion in 2015 to $4.16 billion in 2025, a change of -32.7%.

How much debt does Fortive have?

Fortive's total liabilities were at $5.28 billion at the end of 2025, a 22.6% decrease from 2024, and a 160.2% increase since 2015.

How much cash does Fortive have?

In the past 10 years, Fortive's cash and equivalents has ranged from $0.00 in 2015 to $1.89 billion in 2023, and is currently $375.50 million as of their latest financial filing in 2025.

How has Fortive's book value per share changed over the last 10 years?

Over the last 10 years, Fortive's book value per share changed from 15.00 in 2015 to 20.32 in 2025, a change of 35.4%.

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Financial statements for NYSE:FTV last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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