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Fortive Corp FTV

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Stock XNYS Rating as of
$76.05 −4.65 (5.76%)
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As of Delayed Price Closed
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Company Report

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Fortive Earnings: Solid Growth Despite Lower Core Revenue in Precision Technologies

Krzysztof Smalec

Narrow-moat-rated Fortive reported solid first-quarter results, as its adjusted EPS of $0.83 came in above management’s guidance range of $0.77-$0.80. Management raised the midpoint of its full-year 2024 outlook and now expects adjusted EPS of $3.77-$3.86, up from $3.73-$3.85 previously. We’ve made some puts and takes in our model, but our $88 fair value estimate is unchanged. We see the name as modestly undervalued, with shares now trading in 4-star territory.

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Price vs Fair Value

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FTV is trading at a 9% discount.
Price
$80.36
Fair Value
$59.00
Uncertainty
Medium
1-Star Price
$739.70
5-Star Price
$12.70
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Management has an impressive record of capital allocation and improving operating margins of acquired companies.

Bears

Given its M&A-heavy strategy, Fortive faces acquisition risk, including the possibility of overpaying and challenges integrating acquired companies.

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News

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Trading Information

Previous Close Price
$80.70
Day Range
$72.52–78.57
52-Week Range
$62.70–87.10
Bid/Ask
$70.00 / $78.50
Market Cap
$26.77 Bil
Volume/Avg
6.4 Mil / 1.7 Mil

Key Statistics

Price/Earnings (Normalized)
22.17
Price/Sales
4.41
Dividend Yield (Trailing)
0.39%
Dividend Yield (Forward)
0.42%
Total Yield
1.41%

Company Profile

Fortive is a diversified industrial technology firm with a broad portfolio of mission-critical products and services that include field solutions, product realization, health, and sensing technologies. The company serves a wide range of end markets, including manufacturing, utilities, medical, and electronics. Fortive generated roughly $6.1 billion in revenue in 2023.
Sector
Technology
Industry
Scientific & Technical Instruments
Stock Style Box
Mid Core
Total Number of Employees
18,000
Website
https://www.fortive.com

Competitors

Valuation

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Metric
FTV
DHR
ROP
Price/Earnings (Normalized)
 22.1730.9932.26
Price/Book Value
 2.563.473.30
Price/Sales
 4.418.299.37
Price/Cash Flow
 18.8728.2429.09
Price/Earnings
FTV
DHR
ROP

Financial Strength

Metric
FTV
DHR
ROP
Quick Ratio
 0.961.340.40
Current Ratio
 1.501.850.50
Interest Coverage
 8.5315.8511.58
Quick Ratio
FTV
DHR
ROP

Profitability

Metric
FTV
DHR
ROP
Return on Assets (Normalized)
 5.79%5.15%5.31%
Return on Equity (Normalized)
 9.33%8.40%8.76%
Return on Invested Capital (Normalized)
 7.92%6.02%6.82%
Return on Assets
FTV
DHR
ROP
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