Fortive Corp

FTV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$65.00	Nvwsdg	Xqxbmdgms

Fortive Earnings: Carrying Solid Momentum Into 2024

Krzysztof Smalec

Jan 31, 2024

Narrow-moat-rated Fortive ended 2023 with a solid fourth quarter, as its full-year revenue of $6,065 million and adjusted EPS of $3.43 both came in above our estimates of $6,047 million and $3.39, respectively. After rolling our model forward one year, we’ve modestly bumped our fair value estimate up to $88 from $87, mostly due to the time value of money.

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