Fortive CorporationFTV
NYSE•Technology•Scientific & Technical Instruments
Fortive Corporation designs, develops, manufactures, and markets products, software, and services in the United States, China, and internationally. It operates through Intelligent Operating Solutions and Advanced Healthcare Solutions segments. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including maintenance, repair, measurement and condition monitoring, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries. This segment markets its products and services under the ACCRUENT, FLUKE, GORDIAN, INDUSTRIAL SCIENTIFIC, INTELEX, and SERVICECHANNEL brand names. The Advanced Healthcare Solutions segment provides critical workflow solutions comprising instrument sterilization, instrument tracking, biomedical test tools, radiation detection and safety monitoring, and end-to-end clinical productivity software and solutions under the ASP, CENSIS, FLUKE BIOMEDICAL, LANDAUER, and PROVATION brand names. Fortive Corporation was incorporated in 2015 and is headquartered in Everett, Washington.
Fortive Corporation (FTV) reported trailing twelve months revenue of $3.75B as of April 2026, a 39.3% decline year-over-year. Quarterly revenue reached $1.07B, reflecting a contraction in sales.
Fortive Corporation generated $543.70M in TTM net income, with quarterly EBITDA of $305.30M. The operating margin expanded from 15.8% to 17.9%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (17.9%) and net margin (12.8%) indicates moderate non-operating costs. Net margin has improved from 11.7% a year ago, signaling stronger bottom-line efficiency.
FTV trades at a P/E of 34.2x (a premium multiple) and a P/S of 5.0x. The price-to-book ratio of 3.1x reflects a moderate premium to book value.
The company generated $208.20M in free cash flow over the trailing twelve months, a 3.2% decrease year-over-year, indicating cash generation ability. The balance sheet shows $11.58B in total assets with $2.59B in long-term debt against $6.08B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~24.6%, suggesting durable pricing power and cost discipline.
ROE is positive at ~8.4% on average, adequate but below the threshold typically associated with wide moats.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~30.9% — no sign of cost or pricing stress.
FCF covers net income by 1.8x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 48.8% recently — increasing financial risk even if the current ratio is manageable.
TTM revenue has contracted 20.4% — significant decline indicating deteriorating demand.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 11.9% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation