Fortive Corp

FTV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Fortive Earnings: Positive Order Growth Across All Segments

Krzysztof Smalec

Oct 31, 2024

Narrow-moat-rated Fortive posted solid third-quarter results, as its adjusted earnings per share of $0.97 surpassed management’s $0.92 to $0.95 guidance range. While nothing in the earnings release materially alters our long-term thesis, we’ve raised our fair value estimate to $88 from $87 due to the time value of money. We see the name as modestly undervalued at current levels, and we think the planned spinoff of the precision technologies segment in the fourth quarter of 2025 could be a positive catalyst for the stock.

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Fortive Corp

Fortive Earnings: Positive Order Growth Across All Segments

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