FirmAtlas
Company handbook · FTV · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
FTV · CIK 1659166 · LATEST FILING: 10-Q JUL '26 · FILED JUL 29, 2026
FORTIVE CORPORATION
$57.79
+0.01 (+0.02%)
Close, Oct 16, 2026 · 52-week $48–65
Last fiscal year
FORTIVE CORPORATION reported revenue of $4.2B for the year ended Dec 31, 2025 (FY25), up 1.9% from FY24. Net income was $579M, operating cash flow $1.1B and free cash flow $978M. Source: 10-K filed Feb 25, 2026.
Market cap
$18.1B
P/E
33.3
EV/EBITDA
18.9x
P/B
3.0
Div yield
0.43%
ROIC
5.4%
Revenue 1Y
1.9%/yr
EPS 1Y
−26.7%/yr
Shares 1Y
−8%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOOlumide O. Soroye
HQEverett, WA
AuditorErnst & Young LLP
Employees10,000
Year endsDecember
Revenue by segment · FY25
Intelligent Operating Solutions69%
Advanced Healthcare Solutions31%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
1.6%
−4.5%
−8.2%
18.7%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$2.9B deployed
Capex
$191M
6.5%
Acquisitions
$29M
1.0%
Dividends
$203M
7.0%
Buybacks
$2.5B
85.5%
Operating cash flow over the period: $2.6B. Total debt changed by +$22M. R&D of $510M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Apr '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
4,081
4,159+1.9%
4,235
YoY
+1.9%
Gross profit
2,619
2,641+0.8%
2,679
Gross margin
64.2%
63.5%−0.7 pp
—
Operating income
716
720+0.5%
747
Operating margin
17.6%
17.3%−0.2 pp
—
EBITDA
1,147
1,158+0.9%
—
EBITDA margin
28.1%
27.8%−0.3 pp
—
Interest expense
(153)
(120)n/m
—
Net income
833
579−30.5%
544
YoY
−30.5%
Net margin
20.4%
13.9%−6.5 pp
—
EPS (diluted, $)
2.36
1.73−26.7%
1.68
YoY
−26.7%
Balance sheet
Total assets
17,016
11,738−31.0%
11,584
Cash & short-term investments
813
376−53.8%
—
Accounts receivable
661
684+3.4%
—
Inventory
270
292+8.2%
—
Net PP&E
233
270+15.8%
—
Other assets
15,039
10,117−32.7%
—
Total liabilities
6,827
5,284−22.6%
5,501
Total debt
4,084
4,106+0.5%
4,389
Other liabilities
2,744
1,179−57.0%
—
Shareholders’ equity
10,189
6,453−36.7%
6,083
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,527
1,083−29.1%
1,076
Net income
833
579−30.5%
—
Depreciation & amortization
431
438+1.6%
—
Stock-based compensation
90
117+29.6%
—
Working capital & other
173
(50)−129.1%
—
Cash from investing
(1,796)
(135)n/m
—
Capex
(86)
(105)n/m
—
Acquisitions
(4)
(26)n/m
—
Other investing
(1,706)
(5)n/m
—
Cash from financing
(793)
(1,387)n/m
—
Dividends
(111)
(92)n/m
—
Buybacks
(890)
(1,610)n/m
—
Shares issued
97
72−25.4%
—
Other financing
111
243+118.9%
—
Net change in cash
(1,076)
(438)n/m
—
Free cash flow (OCF − capex)
1,441
978−32.1%
966
Where the cash went
Operating cash flow
1,527
1,083−29.1%
1,076
Reinvested in the business
90
131+45.8%
—
% of operating cash flow
5.9%
12.1%
Capex
86
105+22.1%
111
Acquisitions
4
26+613.9%
—
R&D (memo, already in costs)
251
259+3.1%
—
Free cash flow
1,441
978−32.1%
966
YoY
−32.1%
Returned to shareholders
1,001
1,702+70.1%
—
% of free cash flow
69.5%
174.0%
Dividends
111
92−17.1%
—
Buybacks
890
1,610+81.0%
—
Change in total debt
—
22
—
Cash left over
—
(728)
—
FCF conversion (FCF ÷ net income)
173.0%
168.9%−4.1 pp
—
Owner earnings
—
867
—
Owner earnings margin
—
20.9%
—
Buyback yield
3.5%
9.3%+5.8 pp
—
Returns & ratios
ROIC (all capital)
5.1%
5.4%+0.3 pp
—
ROIC (operating)
58.6%
52.9%−5.8 pp
—
Net debt / EBITDA
2.85x
3.22x+0.37x
—
Debt / equity
0.40x
0.64x+0.24x
—
ROE
8.2%
9.0%+0.8 pp
—
ROA
4.9%
4.9%+0.0 pp
—
ROCE
4.8%
7.6%+2.7 pp
—
NOPAT
683
637−6.7%
—
Invested capital (operating)
1,164
1,245+7.0%
—
Invested capital (all)
13,459
10,183−24.3%
—
Reinvestment rate
—
12.7%
—
Debtor days
59
60+1 d
—
Inventory days
67
70+3 d
—
Net debt is 3.2x EBITDA (FY25).
Income
Jun '25
Sep '25
Dec '25
Apr '26
Revenue
1,519
1,027
620
1,069
vs year-ago quarter
Gross profit
896
649
459
676
Gross margin
59.0%
63.2%
74.0%
63.2%
Operating income
222
160
173
192
Net income
167
55
186
136
vs year-ago quarter
Net margin
11.0%
5.4%
29.9%
12.8%
EPS (diluted, $)
0.49
0.16
0.59
0.44
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Apr '26
Total assets
18,244
11,887
11,738
11,584
Cash & equivalents
1,833
431
376
356
Total debt
6,718
4,496
4,106
4,389
Shareholders’ equity
10,382
6,504
6,453
6,083
Cash flow
Jun '25
Sep '25
Dec '25
Apr '26
Operating cash flow
311
164
366
235
Capex
37
29
19
27
Free cash flow
274
136
347
208
vs year-ago quarter