FTV Research | Milton Maxwell

FTV

Fortive Corporation

54.66

-0.69-1.25%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

Reaffirms execution, adds Fluke/AI color

2/3/26Feb 3, 2026

Q&A largely reaffirmed prepared remarks on Q4 beats and $2.90-$3.00 2026 EPS guide, emphasizing execution over macro for iOS strength. Fluke detailed channel inventory improvements outside the US into 2026 and double-digit recurring ARR growth, while green shoots in EMEA/LATAM stemmed from team execution, not trends yet. AHS capital pressure eased weekly, with Q4 margin dip from localized investments. AI enhances sticky software metrics like NDR. Bolt-ons opportunistic, organics lead. Management dodged price/cost specifics. Teams own the upside. Watch organic durability sans macro boost.

Key Stats

Market Cap

18.49B

P/E (TTM)

21.52

Basic EPS (TTM)

2.54

Dividend Yield

0.01%

Recent Filings

8-K

Fortive extends $2B revolver to 2031

3/20/26Mar 20, 2026

Fortive closed a third amended and restated $2.0B revolving credit facility on March 17, 2026, extending maturity to March 17, 2031 with two one-year extension options and a $1.0B increase option. No borrowings occurred at close; interest ties to Term SOFR or alternatives plus 69-110bps based on ratings, with a 6-15bps facility fee. Leverage covenant caps at 3.75x, rising to 4.25x post-$250M+ acquisition. Lenders hold extension rights.

10-K

FY2025 10-K filed

2/25/26Feb 25, 2026

Fortive Corporation filed its 10-K for FY2025 ended December 31, 2025, but financial statements and quarterly results not disclosed in the provided filing. Executive Jonathan Schwarz separated December 31, 2025, receiving $625,000 severance over one year, COBRA subsidy of $29,850, pro-rata 2025 ICP bonus at 85% target, accelerated EDIP vesting, and pro-rata equity including 55,579 options and 20,738 RSUs. No topline revenue, EPS, or segment metrics available. Liquidity details absent. Leadership transition complete.

8-K

Fortive tops EPS guidance

2/4/26Feb 4, 2026

Fortive beat FY2025 guidance with adjusted diluted net EPS of $2.71 on $4.16B revenue, up 1.9% reported and 1.7% core. Q4 accelerated: 4.6% revenue growth to $1.12B, 3.3% core, $265M share repurchases. Buybacks totaled $1.6B. Initiates 2026 adjusted EPS at $2.90-$3.00. Precision Technologies separated June 2025.

10-Q

Q3 FY2025 results

10/29/25Oct 29, 2025

Fortive's continuing operations posted solid Q3 results, with total sales climbing 2.3% year-over-year to $1,027.1M, fueled by 2.6% pricing gains across Intelligent Operating Solutions and Advanced Healthcare Solutions, though volumes dipped 0.7% (derived). Gross margin held steady at 63.2%, but operating profit slipped 7.2% to $159.6M amid elevated stock-based compensation from the June 2025 Precision Technologies spin-off, squeezing margins to 15.5% from 17.1%. Diluted EPS from continuing operations rose 9.4% to $0.35, aligning with 333.4M weighted shares. Cash from operations reached $691.5M year-to-date, supporting $1.3B in share repurchases and debt reduction to $3.3B total, bolstered by $1.15B from the Ralliant dividend; free cash flow stood at $616.8M (derived). The spin-off sharpened focus on core segments, yet tariff uncertainties linger as a key risk.

8-K

Fortive lifts 2025 EPS guidance

10/29/25Oct 29, 2025

Fortive Corporation reported third-quarter 2025 results from continuing operations, posting revenue of $1.03 billion, up 2.3% year-over-year, with core revenue growth of 1.9%. Adjusted diluted EPS climbed 15.3% to $0.68, while adjusted EBITDA rose 10.4% to $309 million at a 30.1% margin. The company repurchased $1 billion in shares, shrinking its base by 6%, and raised full-year adjusted EPS guidance to $2.63-$2.67. Post-separation focus sharpens execution, yet cash flow dipped slightly.

About

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 electrical test and measurement, 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, PRUFTECHNIK, and SERVICECHANNEL brand names. The Advanced Healthcare Solutions segment provides critical workflow solutions comprising instrument sterilization, instrument tracking, design and manufacture of cell therapy equipment, biomedical test tools, radiation detection and safety monitoring, and end-to-end clinical productivity software and solutions under the ASP, CENSIS, CENSITRAC, EVOTECH, FLUKE BIOMEDICAL, INVETECH, LANDAUER, PROVATION, RAYSAFE, and STERRAD brand names. Fortive Corporation was incorporated in 2015 and is headquartered in Everett, Washington.

CEO

Mr. Olumide Soroye J.D.

IPO

7/5/2016

Website

https://www.fortive.com

Employees

18,000

Sector

Technology

Industry

Scientific & Technical Instruments