FTV

FortiveNYSE:FTV Stock Report

Market Cap

US$26.1b

7D

-3.4%

1Y

-4.0%

Updated

19 Sep, 2021

Data

Company Financials +
FTV fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance1/6
Financial Health6/6
Dividends0/6

FTV Overview

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide.

Fortive Competitors

Parker-Hannifin

NYSE:PH

US$37.1b

Dover

NYSE:DOV

US$23.4b

Pentair

NYSE:PNR

US$12.6b

Crane

NYSE:CR

US$5.4b

Price History & Performance

Summary of all time highs, changes and price drops for Fortive
Historical stock prices
Current Share PriceUS$72.74
52 Week HighUS$60.82
52 Week LowUS$82.12
Beta1.22
1 Month Change-0.94%
3 Month Change4.63%
1 Year Change-4.02%
3 Year Change-16.37%
5 Year Change42.96%
Change since IPO49.67%

Recent News & Updates

Sep 05
Is Now The Time To Look At Buying Fortive Corporation (NYSE:FTV)?

Is Now The Time To Look At Buying Fortive Corporation (NYSE:FTV)?

Let's talk about the popular Fortive Corporation ( NYSE:FTV ). The company's shares saw a decent share price growth in...

Aug 15
Is Fortive Corporation (NYSE:FTV) Trading At A 30% Discount?

Is Fortive Corporation (NYSE:FTV) Trading At A 30% Discount?

How far off is Fortive Corporation ( NYSE:FTV ) from its intrinsic value? Using the most recent financial data, we'll...

Aug 12

Fortive Setting Out To Show It Has Crafted A Durable And Superior Compounder Business Model

Fortive surpassed sell-side expectations in the second quarter, with strong short-cycle momentum, but also double-digit growth in the software businesses. The short-cycle rebound isn't over, and businesses like Accruent and Gordian should accelerate further, while the healthcare ops are more vulnerable to COVID-19 in the short term. Fortive is back to M&A; the $1.2B deal for ServiceChannel could be a template for future deals - relatively high initial multiples for higher longer-term recurring revenue and margins. Between a comparable multiple approach using other compounder-type companies and a cash flow model including estimated M&A, I believe Fortive is more or less fairly-valued.

Shareholder Returns

FTVUS MachineryUS Market
7D-3.4%-1.7%-0.6%
1Y-4.0%31.4%33.8%

Return vs Industry: FTV underperformed the US Machinery industry which returned 31.4% over the past year.

Return vs Market: FTV underperformed the US Market which returned 33.8% over the past year.

Price Volatility

Is FTV's price volatile compared to industry and market?
FTV volatility
FTV Beta1.22
Industry Beta1.25
Market Beta1

Stable Share Price: FTV is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FTV's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
201517,000Jim Licohttps://www.fortive.com

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others. It markets its products and services under the ACCRUENT, FLUKE, FLUKE NETWORKS, GORDIAN, INDUSTRIAL SCIENTIFIC, INTELEX, and PRUFTECHNIK brands.

Valuation

Is Fortive undervalued compared to its fair value and its price relative to the market?

33.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FTV ($72.74) is trading below our estimate of fair value ($109.56)

Significantly Below Fair Value: FTV is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FTV is good value based on its PE Ratio (16.7x) compared to the US Machinery industry average (29.4x).

PE vs Market: FTV is good value based on its PE Ratio (16.7x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: FTV is poor value based on its PEG Ratio (10.5x)


Price to Book Ratio

PB vs Industry: FTV's PB Ratio (2.8x) is in line with the US Machinery industry average.


Future Growth

How is Fortive forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FTV's forecast earnings growth (1.6% per year) is below the savings rate (2%).

Earnings vs Market: FTV's earnings (1.6% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: FTV's earnings are forecast to grow, but not significantly.

Revenue vs Market: FTV's revenue (5.1% per year) is forecast to grow slower than the US market (9.8% per year).

High Growth Revenue: FTV's revenue (5.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FTV's Return on Equity is forecast to be low in 3 years time (11.3%).


Past Performance

How has Fortive performed over the past 5 years?

-1.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FTV has a large one-off gain of $1.0B impacting its July 2 2021 financial results.

Growing Profit Margin: FTV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FTV's earnings have declined by 1.6% per year over the past 5 years.

Accelerating Growth: FTV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FTV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Machinery industry (22.1%).


Return on Equity

High ROE: FTV's Return on Equity (17.7%) is considered low.


Financial Health

How is Fortive's financial position?


Financial Position Analysis

Short Term Liabilities: FTV's short term assets ($3.1B) exceed its short term liabilities ($2.6B).

Long Term Liabilities: FTV's short term assets ($3.1B) exceed its long term liabilities ($2.7B).


Debt to Equity History and Analysis

Debt Level: FTV's debt to equity ratio (28%) is considered satisfactory.

Reducing Debt: FTV's debt to equity ratio has reduced from 142.1% to 28% over the past 5 years.

Debt Coverage: FTV's debt is well covered by operating cash flow (46.2%).

Interest Coverage: FTV's interest payments on its debt are well covered by EBIT (6.5x coverage).


Balance Sheet


Dividend

What is Fortive current dividend yield, its reliability and sustainability?

0.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FTV's dividend (0.38%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: FTV's dividend (0.38%) is low compared to the top 25% of dividend payers in the US market (3.6%).


Stability and Growth of Payments

Stable Dividend: FTV is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: FTV is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: FTV is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FTV's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure


CEO

Jim Lico (55 yo)

5.17yrs

Tenure

US$13,624,063

Compensation

Mr. James A. Lico, also known as Jim, has been Chief Executive Officer of Fortive Corporation since July 2016 and served as its President since July 2016. He serves as President at Fortive Corporation. Mr....


CEO Compensation Analysis

Compensation vs Market: Jim's total compensation ($USD13.62M) is about average for companies of similar size in the US market ($USD11.33M).

Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FTV's management team is seasoned and experienced (5.2 years average tenure).


Board Members

Experienced Board: FTV's board of directors are considered experienced (3.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FTV insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.3%.


Top Shareholders

Company Information

Fortive Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Fortive Corporation
  • Ticker: FTV
  • Exchange: NYSE
  • Founded: 2015
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: US$26.069b
  • Shares outstanding: 358.39m
  • Website: https://www.fortive.com

Number of Employees


Location

  • Fortive Corporation
  • 6920 Seaway Boulevard
  • Everett
  • Washington
  • 98203
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/19 22:11
End of Day Share Price2021/09/17 00:00
Earnings2021/07/02
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.