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Fortive Corp FTV

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Stock XNYS Rating as of
$74.44 +0.94 (1.28%)
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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 22% premium.
Price
$74.44
Fair Value
$57.00
Uncertainty
Medium
1-Star Price
$862.40
5-Star Price
$92.10
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
$73.50
Day Range
$73.21–74.49
52-Week Range
$63.05–87.10
Bid/Ask
$70.33 / $75.57
Market Cap
$26.21 Bil
Volume/Avg
2.6 Mil / 1.6 Mil

Key Statistics

Price/Earnings (Normalized)
21.21
Price/Sales
4.32
Dividend Yield (Trailing)
0.41%
Dividend Yield (Forward)
0.44%
Total Yield
1.46%

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
MMM
ITW
Price/Earnings (Normalized)
 21.2110.3723.93
Price/Book Value
 2.5011.3923.22
Price/Sales
 4.321.704.42
Price/Cash Flow
 18.479.4321.14
Price/Earnings
FTV
MMM
ITW

Financial Strength

Metric
FTV
MMM
ITW
Quick Ratio
 0.961.190.87
Current Ratio
 1.501.641.32
Interest Coverage
 8.53−7.2715.16
Quick Ratio
FTV
MMM
ITW

Profitability

Metric
FTV
MMM
ITW
Return on Assets (Normalized)
 5.79%10.67%19.30%
Return on Equity (Normalized)
 9.33%71.61%98.30%
Return on Invested Capital (Normalized)
 7.92%23.61%28.19%
Return on Assets
FTV
MMM
ITW
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