Fortive Corp
NYSE:FTV
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Intrinsic Value
The intrinsic value of one FTV stock under the Base Case scenario is 64.93 USD. Compared to the current market price of 75.99 USD, Fortive Corp is Overvalued by 15%.
The Intrinsic Value is calculated as the average of DCF and Relative values:
Valuation Backtest
Fortive Corp
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Fundamental Analysis
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Fortive Corp. is a dynamic industrial technology company that specializes in advancing the vital processes of diverse sectors, including healthcare, transportation, and telecommunications. Born from the split of Danaher Corporation in 2016, Fortive has quickly carved out a unique identity, focusing on intelligent operational solutions that leverage automation, software, and data analytics. The company operates through two main segments, Precision Technologies and Professional Instrumentation, providing essential tools and advanced software applications that enhance efficiency and reliability across various industries. This strategic positioning allows Fortive to cater to essential needs in a...
Fortive Corp. is a dynamic industrial technology company that specializes in advancing the vital processes of diverse sectors, including healthcare, transportation, and telecommunications. Born from the split of Danaher Corporation in 2016, Fortive has quickly carved out a unique identity, focusing on intelligent operational solutions that leverage automation, software, and data analytics. The company operates through two main segments, Precision Technologies and Professional Instrumentation, providing essential tools and advanced software applications that enhance efficiency and reliability across various industries. This strategic positioning allows Fortive to cater to essential needs in an ever-evolving market, driving both growth and innovation.
For investors, Fortive represents an attractive opportunity with its disciplined approach to capital allocation and a commitment to enhancing shareholder value through organic growth and strategic acquisitions. The company exhibits a strong track record of consistent revenue growth and margin improvement, which positions it well to weather economic fluctuations. With a robust pipeline of products and a keen focus on sustainability and technological advancements, Fortive is well-prepared for future challenges and opportunities. Investors can feel confident that Fortive's resilience and strategic foresight may translate into long-term growth and stable returns within a competitive landscape, making it a compelling option for those seeking exposure to the industrial technology sector.
Fortive Corporation operates in several core business segments, primarily focused on providing essential technology and services across a variety of industries. Here’s a detailed description of their main segments:
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Industrial Technologies: This segment includes a range of products and services tailored for manufacturing and production environments. Fortive offers tools, software, and equipment designed to improve operational efficiency and productivity. Key offerings may include industrial automation solutions, sensors, and test & measurement equipment.
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Precision Technologies: This segment focuses on advanced precision instruments and measurement solutions. Fortive provides high-precision tools and software for various applications, including calibration, testing, and measurement in sectors such as aerospace, automotive, and electronics. This segment aims to enhance quality and performance through accurate and reliable measurement technologies.
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Healthcare Technologies: In this segment, Fortive provides solutions for the healthcare industry, particularly in the areas of medical device manufacturing, laboratory equipment, and pharmaceutical testing. The goal is to improve patient outcomes and streamline processes within healthcare facilities through innovative technologies and software.
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Automation and Safety: This segment encompasses technologies related to workflow automation, safety, and operational efficiency. Fortive offers software, systems, and services aimed at improving workplace safety and compliance, as well as enhancing overall productivity in industrial settings.
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Software: Fortive also has a robust software segment that complements its hardware offerings. This includes solutions for data analytics, asset management, and workflow optimization. Software plays a critical role in driving value from Fortive's products by enabling better insights, automation, and operational management.
By operating across these diverse segments, Fortive Corporation leverages its technological expertise to deliver innovative solutions, enhance operational efficiencies, and support its customers in improving their products and services.
Fortive Corp, operating in the industrial and technology sectors, enjoys several unique competitive advantages over its rivals:
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Diverse Portfolio of High-Quality Brands: Fortive boasts a wide range of well-known and specialized brands across different sectors, including automation, sensing, and software solutions. This brand diversity allows them to cater to various market needs and reduce dependence on any single revenue stream.
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Strong Innovation Pipeline: Fortive invests significantly in research and development, fostering a culture of innovation. This dedication results in the continuous development of advanced technologies and solutions that meet evolving customer needs, thus maintaining a competitive edge.
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Operational Excellence: The company employs the Fortive Business System (FBS), which emphasizes lean management and continuous improvement. This system enhances operational efficiency, reducing costs while improving product quality and customer satisfaction.
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Recurring Revenue Model: Fortive has built a strong base of recurring revenue through software subscriptions and service contracts. This stability offers more predictable cash flow compared to traditional product sales, making the company less vulnerable to economic fluctuations.
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Strategic Acquisitions: Fortive has a history of successful acquisitions that bolster its product offerings and expand its market reach. The company carefully identifies and integrates businesses that align with its long-term strategy and enhance competitive advantages.
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Global Reach with Local Expertise: With a significant international presence, Fortive is well-positioned to serve its clients globally while leveraging local market expertise. This allows for better customer relationships and faster response to market needs.
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Strong Customer Relationships: Fortive focuses on building long-term relationships with its customers, which fosters loyalty and repeat business. The company’s solutions are often mission-critical, making customers more inclined to stick with Fortive over competitors.
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Focus on Sustainability: Fortive is committed to sustainability and ESG (Environmental, Social, Governance) initiatives, which resonate well with customers and investors alike in today’s market, differentiating it from competitors that may not prioritize these values.
These advantages contribute to Fortive’s strong market position and its ability to compete effectively against rivals in its industries.
Fortive Corporation, operating in diverse sectors such as instrumentation, industrial technology, and software, faces several risks and challenges moving forward. Here are some potential key considerations:
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Economic Conditions: Fortive's performance is sensitive to economic fluctuations. A downturn can lead to reduced capital spending by clients in sectors like manufacturing and healthcare, adversely affecting sales.
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Supply Chain Disruptions: Ongoing global supply chain issues can impact the availability of components and materials, leading to delays in production and increased costs.
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Technological Change: The rapid advancement of technology requires continuous innovation. Fortive must invest in research and development to stay competitive and relevant, which poses a financial commitment risk.
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Regulatory Challenges: Compliance with diverse regulations across different regions can be complex and costly. Changes in regulations related to safety, environmental standards, or data privacy can impact operations.
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Integration Risks: Fortive has a history of making acquisitions to fuel growth. Successfully integrating new acquisitions poses risks such as cultural mismatches, operational disruptions, and failure to realize expected synergies.
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Competitive Pressure: Fortive operates in markets with intense competition. New entrants and existing competitors may pressure pricing and market share, necessitating aggressive strategies to maintain a competitive edge.
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Cybersecurity Threats: As Fortive increasingly integrates digital solutions into its offerings, it becomes more vulnerable to cyber threats. Breaches can lead to data loss, reputational harm, and financial penalties.
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Global Market Risks: Geopolitical tensions, trade policies, and currency fluctuations can impact Fortive's ability to operate globally, affecting revenue streams and cost structures.
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Labor Market Dynamics: Attracting and retaining skilled talent remains a challenge in technical sectors. A tight labor market can lead to increased labor costs and difficulties in fulfilling operational needs.
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Sustainability Pressures: Increasing focus on sustainable practices and environmental, social, and governance (ESG) criteria can drive changes in product development and operational processes. Failure to adapt may impact reputation and market position.
Understanding and navigating these challenges will be crucial for Fortive's continued growth and success. Effective risk management strategies, ongoing market surveillance, and a commitment to innovation will help mitigate these potential impacts.
Revenue & Expenses Breakdown
Fortive Corp
Balance Sheet Decomposition
Fortive Corp
Current Assets | 2.6B |
Cash & Short-Term Investments | 811.3m |
Receivables | 1B |
Other Current Assets | 790.7m |
Non-Current Assets | 14.8B |
PP&E | 425.1m |
Intangibles | 13.8B |
Other Non-Current Assets | 561m |
Current Liabilities | 2.1B |
Accounts Payable | 623.8m |
Accrued Liabilities | 558.1m |
Other Current Liabilities | 918.9m |
Non-Current Liabilities | 4.8B |
Long-Term Debt | 3.5B |
Other Non-Current Liabilities | 1.3B |
Earnings Waterfall
Fortive Corp
Revenue
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6.2B
USD
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Cost of Revenue
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-2.5B
USD
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Gross Profit
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3.7B
USD
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Operating Expenses
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-2.5B
USD
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Operating Income
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1.2B
USD
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Other Expenses
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-287.1m
USD
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Net Income
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889.3m
USD
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Free Cash Flow Analysis
Fortive Corp
USD | |
Free Cash Flow | USD |
In Q3 2024, Fortive Corporation achieved 3% revenue growth, with adjusted EPS rising 14% and free cash flow up 12%. Key segments like Advanced Healthcare Solutions and Intelligent Operating Solutions contributed positively, while Precision Technologies showed double-digit order growth. For Q4, the company anticipates the same 3% revenue growth, with adjusted EPS expected between $1.11 and $1.14. Looking ahead to 2025, Fortive forecasts organic growth across all segments, driven by recurring revenue and innovation. The spin-off of Precision Technologies is on track, with share repurchases boosting shareholder value.
What is Earnings Call?
FTV Profitability Score
Profitability Due Diligence
Fortive Corp's profitability score is 57/100. The higher the profitability score, the more profitable the company is.
Score
Fortive Corp's profitability score is 57/100. The higher the profitability score, the more profitable the company is.
FTV Solvency Score
Solvency Due Diligence
Fortive Corp's solvency score is 59/100. The higher the solvency score, the more solvent the company is.
Score
Fortive Corp's solvency score is 59/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
FTV Price Targets Summary
Fortive Corp
According to Wall Street analysts, the average 1-year price target for FTV is 88.54 USD with a low forecast of 67.67 USD and a high forecast of 102.9 USD.
Dividends
Current shareholder yield for FTV is .
Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?
Ownership
FTV Insider Trading
Buy and sell transactions by insiders
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Profile
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Description
Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. The company is headquartered in Everett, Washington and currently employs 18,000 full-time employees. The company went IPO on 2016-06-13. The company operates through three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. Intelligent Operating Solutions segment offers various Products and services under a range of brands, including Accruent, Fluke, Gordian, Industrial Scientific, Intelex, Pruftechnik, and Servicechannel. Precision Technologies segment provides electrical test and measurement instruments and services, energetic material devices, and a range of sensor and control system solutions. Advanced Healthcare Solutions segment provides hardware, consumables, software and services that helps in the customers' workflows, including instrument sterilization and device reprocessing, instrument tracking, cell therapy equipment design and manufacturing, biomedical test tools, radiation safety monitoring, end-to-end clinical productivity solutions and asset
Contact
IPO
Employees
Officers
The intrinsic value of one FTV stock under the Base Case scenario is 64.93 USD.
Compared to the current market price of 75.99 USD, Fortive Corp is Overvalued by 15%.