Fortive
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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. The last earnings update was 53 days ago. More info.
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FTV Share Price and Events
7 Day Returns
1 Year Returns
FTV Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Fortive (FTV) | 0.8% | 7.6% | 23.5% | 16% | - | - |
| US Machinery | 1.3% | 6.5% | 11.1% | 1.6% | 51.1% | 33.8% |
| US Market | -0.3% | 2% | 8.5% | 7% | 37.7% | 46.8% |
1 Year Return vs Industry and Market
- FTV outperformed the Machinery industry which returned 1.6% over the past year.
- FTV outperformed the Market in United States of America which returned 7% over the past year.
FTV Value
Is Fortive undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Fortive
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Fortive.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 15 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.4% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Machinery Unlevered Beta | Simply Wall St/ S&P Global | 1.07 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.068 (1 + (1- 21%) (11.57%)) |
1.111 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.11 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.111 * 5.96%) |
9.35% |
Discounted Cash Flow Calculation for NYSE:FTV using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Fortive is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.35%) |
|
|---|---|---|---|
| 2019 | 1,296.46 | Analyst x6 | 1,185.59 |
| 2020 | 1,438.21 | Analyst x5 | 1,202.74 |
| 2021 | 1,704.00 | Analyst x3 | 1,303.15 |
| 2022 | 2,000.00 | Analyst x1 | 1,398.72 |
| 2023 | 2,215.00 | Analyst x1 | 1,416.61 |
| 2024 | 2,391.42 | Est @ 7.96% | 1,398.64 |
| 2025 | 2,544.34 | Est @ 6.39% | 1,360.82 |
| 2026 | 2,679.07 | Est @ 5.3% | 1,310.34 |
| 2027 | 2,800.31 | Est @ 4.53% | 1,252.51 |
| 2028 | 2,911.95 | Est @ 3.99% | 1,191.06 |
| Present value of next 10 years cash flows | $13,020.18 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $2,911.95 × (1 + 2.73%) ÷ (9.35% – 2.73%) |
$45,177.44 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $45,177.44 ÷ (1 + 9.35%)10 |
$18,478.72 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $13,020.18 + $18,478.72 |
$31,498.90 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $31,498.90 / 335.05 |
$94.01 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $94.01 |
| Current discount | Discount to share price of
$88.50
= -1 x ($88.50 - $94.01) / $94.01 |
5.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Fortive's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Fortive's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Fortive's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Fortive's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $2.56 |
| NYSE:FTV Share Price ** | NYSE (2019-04-18) in USD | $88.5 |
| United States of America Machinery Industry PE Ratio | Median Figure of 103 Publicly-Listed Machinery Companies | 21.67x |
| United States of America Market PE Ratio | Median Figure of 3,081 Publicly-Listed Companies | 18.18x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Fortive.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:FTV Share Price ÷ EPS (both in USD) = 88.5 ÷ 2.56 |
34.61x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fortive is overvalued based on earnings compared to the US Machinery industry average.
- Fortive is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Fortive's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 34.61x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts |
12.7%per year |
| United States of America Machinery Industry PEG Ratio | Median Figure of 83 Publicly-Listed Machinery Companies | 1.61x |
| United States of America Market PEG Ratio | Median Figure of 2,109 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 34.61x ÷ 12.7% |
2.73x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fortive is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Fortive's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $19.72 |
| NYSE:FTV Share Price * | NYSE (2019-04-18) in USD | $88.5 |
| United States of America Machinery Industry PB Ratio | Median Figure of 129 Publicly-Listed Machinery Companies | 2.45x |
| United States of America Market PB Ratio | Median Figure of 5,184 Publicly-Listed Companies | 1.91x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:FTV Share Price ÷ Book Value per Share (both in USD) = 88.5 ÷ 19.72 |
4.49x |
* Primary Listing of Fortive.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fortive is overvalued based on assets compared to the US Machinery industry average.
Value checks
We assess Fortive's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check) Fortive has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
FTV Future Performance
How is Fortive expected to perform in the next 1 to 3 years based on estimates from 15 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Fortive's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Fortive's earnings growth is positive but not above the United States of America market average.
- Fortive's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:FTV Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts | 12.7% |
| NYSE:FTV Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts | 8.1% |
| United States of America Machinery Industry Earnings Growth Rate | Market Cap Weighted Average | 11% |
| United States of America Machinery Industry Revenue Growth Rate | Market Cap Weighted Average | 3.7% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.4% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 10,406 | 2,392 | 1,741 | 1 |
| 2022-12-31 | 9,657 | 2,164 | 1,575 | 1 |
| 2021-12-31 | 8,233 | 1,771 | 1,416 | 5 |
| 2020-12-31 | 7,747 | 1,560 | 1,243 | 14 |
| 2019-12-31 | 7,297 | 1,381 | 1,097 | 15 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 6,453 | 1,344 | 883 |
| 2018-09-28 | 7,244 | 1,363 | 1,121 |
| 2018-06-29 | 7,089 | 1,295 | 1,161 |
| 2018-03-30 | 6,862 | 1,199 | 1,106 |
| 2017-12-31 | 5,756 | 1,176 | 884 |
| 2017-09-29 | 6,476 | 1,031 | 932 |
| 2017-06-30 | 6,359 | 1,043 | 891 |
| 2017-03-31 | 6,285 | 1,108 | 890 |
| 2016-12-31 | 5,378 | 1,137 | 740 |
| 2016-09-30 | 6,173 | 1,207 | 884 |
| 2016-07-01 | 6,130 | 1,112 | 854 |
| 2016-04-01 | 6,140 | 1,092 | 842 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
All data from Fortive Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 4.59 | 4.59 | 4.59 | 1.00 |
| 2022-12-31 | 4.19 | 4.19 | 4.19 | 1.00 |
| 2021-12-31 | 3.89 | 4.54 | 3.34 | 3.00 |
| 2020-12-31 | 3.46 | 4.05 | 3.22 | 9.00 |
| 2019-12-31 | 3.04 | 3.70 | 2.62 | 11.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 2.56 |
| 2018-09-28 | 3.21 |
| 2018-06-29 | 3.33 |
| 2018-03-30 | 3.18 |
| 2017-12-31 | 2.54 |
| 2017-09-29 | 2.69 |
| 2017-06-30 | 2.57 |
| 2017-03-31 | 2.57 |
| 2016-12-31 | 2.14 |
| 2016-09-30 | 2.56 |
| 2016-07-01 | 2.47 |
| 2016-04-01 | 2.44 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Fortive's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Fortive has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
FTV Past Performance
How has Fortive performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Fortive's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
- Fortive's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Fortive's 1-year earnings growth is negative, it can't be compared to the US Machinery industry average.
Earnings and Revenue History
All data from Fortive Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 6,452.70 | 883.40 | 1,701.90 | 414.30 |
| 2018-09-28 | 7,243.50 | 1,120.80 | 1,719.50 | 441.10 |
| 2018-06-29 | 7,088.70 | 1,160.70 | 1,680.70 | 430.60 |
| 2018-03-30 | 6,861.50 | 1,106.00 | 1,592.10 | 418.70 |
| 2017-12-31 | 5,756.10 | 884.30 | 1,377.80 | 369.30 |
| 2017-09-29 | 6,476.40 | 932.10 | 1,437.80 | 396.50 |
| 2017-06-30 | 6,358.50 | 891.20 | 1,409.30 | 389.70 |
| 2017-03-31 | 6,284.80 | 890.00 | 1,401.70 | 387.30 |
| 2016-12-31 | 5,378.20 | 740.20 | 1,264.10 | 351.00 |
| 2016-09-30 | 6,173.00 | 883.90 | 1,352.10 | 376.60 |
| 2016-07-01 | 6,130.20 | 853.60 | 1,347.30 | 377.10 |
| 2016-04-01 | 6,140.00 | 842.10 | 1,331.20 | 376.30 |
| 2015-12-31 | 6,178.80 | 863.80 | 1,334.20 | 377.70 |
| 2015-10-02 | 6,290.40 | 856.60 | 1,391.50 | 383.80 |
| 2014-12-31 | 6,337.20 | 883.40 | 1,394.10 | 387.60 |
| 2013-12-31 | 5,961.90 | 830.90 | 1,324.30 | 378.30 |
| 2012-12-31 | 5,785.30 | 763.70 | 1,260.40 | 352.70 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Fortive has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Fortive used its assets more efficiently than the US Machinery industry average last year based on Return on Assets.
- Fortive's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Fortive's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Fortive has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
FTV Health
How is Fortive's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Fortive's finances.
The net worth of a company is the difference between its assets and liabilities.
- Fortive is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Fortive's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Fortive Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 6,612.90 | 3,430.30 | 1,178.40 |
| 2018-09-28 | 5,849.10 | 5,002.50 | 1,145.10 |
| 2018-06-29 | 5,641.90 | 3,726.70 | 2,368.20 |
| 2018-03-30 | 4,109.70 | 3,996.90 | 1,015.70 |
| 2017-12-31 | 3,808.20 | 4,056.20 | 962.10 |
| 2017-09-29 | 3,478.30 | 3,671.90 | 910.90 |
| 2017-06-30 | 3,173.00 | 3,208.10 | 968.40 |
| 2017-03-31 | 2,891.90 | 3,262.70 | 817.60 |
| 2016-12-31 | 2,691.00 | 3,358.00 | 803.20 |
| 2016-09-30 | 2,559.60 | 3,509.10 | 724.80 |
| 2016-07-01 | 2,372.40 | 3,374.80 | 487.20 |
| 2016-04-01 | 5,261.30 | 0.00 | |
| 2015-12-31 | 5,182.50 | 0.00 | |
| 2015-10-02 | 5,255.30 | 0.00 | |
| 2014-12-31 | 5,232.50 | 0.00 | |
| 2013-12-31 | 5,125.10 | 0.00 | |
| 2012-12-31 |
- Fortive's level of debt (51.9%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (0% vs 51.9% today).
- Debt is well covered by operating cash flow (39.2%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 12.4x coverage).
Financial health checks
We assess Fortive's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Fortive has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
FTV Dividends
What is Fortive's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Fortive
shares you are expected to receive
$6
in your first year as a dividend.
Dividend Amount
- Fortive's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
- Fortive's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
Upcoming dividend payment
Purchase Fortive before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| United States of America Machinery Industry Average Dividend Yield | Market Cap Weighted Average of 77 Stocks | 1.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2009 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 0.28 | 1.00 |
| 2022-12-31 | 0.28 | 1.00 |
| 2021-12-31 | 0.30 | 4.00 |
| 2020-12-31 | 0.32 | 9.00 |
| 2019-12-31 | 0.29 | 8.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-11 | 0.280 | 0.319 |
| 2019-01-29 | 0.280 | 0.345 |
| 2018-11-08 | 0.280 | 0.396 |
| 2018-08-02 | 0.280 | 0.346 |
| 2018-04-12 | 0.280 | 0.367 |
| 2018-01-23 | 0.280 | 0.369 |
| 2017-11-02 | 0.280 | 0.383 |
| 2017-08-03 | 0.280 | 0.407 |
| 2017-04-13 | 0.280 | 0.444 |
| 2017-01-24 | 0.280 | 0.482 |
| 2016-11-03 | 0.280 | 0.517 |
| 2016-08-04 | 0.280 | 0.551 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Fortive is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
- Fortive is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Income/ dividend checks
We assess Fortive's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Fortive afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Fortive has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
FTV Management
CEO
| COMPENSATION | $11,396,099 |
| AGE | 52 |
| TENURE AS CEO | 2.8 years |
CEO Bio
Mr. James A. Lico, also known as Jim, has been Chief Executive Officer and President of Fortive Corporation since July 2016. Mr. Lico served as Executive Vice President of Danaher Corp. from September 26, 2005 to June 1, 2016 and was responsible for its Test & Measurement segment and Gilbarco Veeder-Root business. Mr. Lico served as President of Fluke Electronics Corporation. Mr. Lico was responsible for Fluke and the related Industrial Test & Measurement businesses. He served as President of Fluke Corporation from July 2000 to September 2005. Mr. Lico originally joined Danaher in August 1996 as Vice President of Operations at Veeder-Root before being appointed President of Kistler - Morse in November 1997. He served as Vice President and Group Executive of Danaher Corporation from December 2002 to September 2005 and as Vice President - Danaher Business Systems Office from September 2004 to September 2005. Since January 1999, Mr. Lico served as Vice President of Operations at Fluke. Prior to joining Danaher, Mr. Lico held key operations and materials management positions at AlliedSignal's Automotive Filter & Spark Plug Group. He served as also Manager of Lean Manufacturing at AlliedSignal's Automotive Headquarters. Mr. Lico worked for General Motors in their Powertrain division in progressively responsible positions in manufacturing. He had been a Non-Independent Director of NetScout Systems, Inc. from July 06, 2015 until September 12, 2018. He has been a Director of Fortive Corporation since July 2, 2016. Mr. Lico was awarded his Bachelor of Science degree in Business Administration with a double major in Operations Management and Managerial Economics and Finance from the University of Michigan in 1988 and a Masters in Management from Northwestern's Kellogg School of Management in 1997.
CEO Compensation
- Jim's compensation has been consistent with company performance over the past year.
- Jim's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Fortive management team in years:
- The tenure for the Fortive management team is about average.
Management Team
Jim Lico
President
$11M
52
2.8 yrs
Chuck McLaughlin
Senior VP & CFO
$4M
57
2.8 yrs
Martin Gafinowitz
Senior Vice President
$3M
59
2.8 yrs
Wes Pringle
Senior Vice President
$2M
50
2.8 yrs
Barbara Hulit
Senior Vice President
$3M
51
2.8 yrs
Emily Weaver
Chief Accounting Officer
46
2.8 yrs
Lisa Curran
Vice President of Investor Relations
3.2 yrs
Pete Underwood
Senior VP
$3M
48
2.9 yrs
Jon Schwarz
Vice President of Corporate Development
46
2.8 yrs
Stacey Walker
Senior Vice President of Human Resources
47
2.8 yrs
Board of Directors Tenure
Average tenure and age of the Fortive board of directors in years:
- The average tenure for the Fortive board of directors is less than 3 years, this suggests a new board.
Board of Directors
Alan Spoon
Chairman of the Board
$443K
67
3.3 yrs
Jim Lico
President
$11M
52
2.8 yrs
Israel Ruiz
Director
$302K
46
2.8 yrs
Kate Mitchell
Director
$282K
59
2.8 yrs
Feroz Dewan
Director
$264K
42
2.8 yrs
Mitchell Rales
Director
$277K
61
2.8 yrs
Steven Rales
Director
$277K
67
2.8 yrs
Jeannine Sargent
Director
54
0.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 15. Nov 18 | Sell | Jonathan Schwarz | Individual | 14. Nov 18 | 14. Nov 18 | -8,869 | $74.70 | $-662,550 | ||
| 05. Nov 18 | Sell | Emily Weaver | Individual | 02. Nov 18 | 02. Nov 18 | -446 | $75.41 | $-33,633 | ||
| 03. Aug 18 | Sell | Charles McLaughlin | Individual | 02. Aug 18 | 02. Aug 18 | -5,514 | $80.89 | $-446,027 | ||
| 02. Aug 18 | Sell | Barbara Hulit | Individual | 01. Aug 18 | 01. Aug 18 | -15,000 | $82.29 | $-1,234,350 | ||
| 02. Aug 18 | Buy | Alan Spoon | Individual | 02. Aug 18 | 02. Aug 18 | 18,000 | $80.80 | $1,454,400 | ||
| 09. May 18 | Sell | Emily Weaver | Individual | 08. May 18 | 08. May 18 | -3,852 | $73.80 | $-284,278 | ||
Management checks
We assess Fortive's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Fortive has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
FTV News
Simply Wall St News
Who Has Been Selling Fortive Corporation (NYSE:FTV) Shares?
So before you buy or sell Fortive Corporation (NYSE:FTV), you may well want to know whether insiders have been buying or selling. … Fortive Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Fortive shares, than buying
Simply Wall St - – Full articleAre Fortive Corporation's (NYSE:FTV) Interest Costs Too High?
Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as Fortive Corporation (NYSE:FTV) a safer option. … the key to extending previous success is in the health of the company’s financials. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself
Simply Wall St - – Full articleAt US$83.05, Is Fortive Corporation (NYSE:FTV) Worth Looking At Closely?
received a lot of attention from a substantial price increase on the NYSE over the last few months. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, could the stock still be trading at a relatively cheap price?
Simply Wall St - – Full articleWhat Fortive Corporation's (NYSE:FTV) ROE Can Tell Us
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every $1 worth of shareholders' equity, it generated $0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDo Fortive Corporation’s (NYSE:FTV) Returns On Capital Employed Make The Cut?
Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleWhat Should We Expect From Fortive Corporation's (NYSE:FTV) Earnings In The Years Ahead?
Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … The latest earnings update Fortive Corporation (NYSE:FTV) released in December 2018
Simply Wall St - – Full articleShould We Worry About Fortive Corporation's (NYSE:FTV) P/E Ratio?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Fortive Corporation's (NYSE:FTV) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleIntrinsic Calculation For Fortive Corporation (NYSE:FTV) Shows Investors Are Overpaying
How far off is Fortive Corporation (NYSE:FTV) from its intrinsic value? … by taking the expected future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleShould You Care About Fortive Corporation’s (NYSE:FTV) Cash Levels?
If you are currently a shareholder in Fortive Corporation (NYSE:FTV), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … Fortive generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating. … There are two methods I will use to evaluate the quality of Fortive’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability
Simply Wall St - – Full articleWhat Investors Should Know About Fortive Corporation's (NYSE:FTV) Financial Strength
One reason being its ‘too big to fail’ aura which gives it the appearance of a strong and stable investment. … Today we will look at Fortive’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis
Simply Wall St - – Full articleFTV Company Info
Description
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications. This segment also provides product realization services and products that help developers and engineers across the end-to-end product creation cycle from concepts to finished products; materials components; and devices that sense, monitor, and control operational or manufacturing variables. This segment markets its products and services under the ACCRUENT, FLUKE, FLUKE BIOMEDICAL, FLUKE NETWORKS, GORDIAN, INDUSTRIAL SCIENTIFIC, LANDAUER, QUALITROL, INVETECH, KEITHLEY, PACIFIC SCIENTIFIC, SONIX, and TEKTRONIX brands. Its Industrial Technologies segment offers solutions and services for use in fuel dispensing, remote fuel management, point-of-sale and payment systems, environmental compliance, vehicle tracking, and fleet and traffic management under the ANGI, GASBOY, GILBARCO, GILBARCO AUTOTANK, ORPAK, VEEDER-ROOT, and TELETRAC NAVMAN brands. This segment also offers professional tools, toolboxes, and automotive diagnostic equipment under the MATCO brand; and wheel service equipment under the COATS brand. The company also provides automation and specialty components under the DYNAPAR and HENGSTLER brands. Fortive Corporation was incorporated in 2015 and is headquartered in Everett, Washington.
Details
| Name: | Fortive Corporation |
| FTV | |
| Exchange: | NYSE |
| Founded: | 2015 |
| $29,651,780,568 | |
| 335,048,368 | |
| Website: | http://www.fortive.com |
| Address: |
Fortive Corporation 6920 Seaway Boulevard, Everett, Washington, 98203, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | FTV | Common Stock | New York Stock Exchange | US | USD | 05. Jul 2016 | |
| DB | F03 | Common Stock | Deutsche Boerse AG | DE | EUR | 05. Jul 2016 | |
| LSE | 0IRE | Common Stock | London Stock Exchange | GB | USD | 05. Jul 2016 | |
| BMV | FTV * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 05. Jul 2016 | |
| NYSE | FTV.PRA | 5% PFD CNV SER A | New York Stock Exchange | US | USD | 27. Jun 2018 |
Number of employees
Current staff
Industry
| Industrial Machinery | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/22 00:37 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/17 |
| Last earnings filing: | 2019/02/28 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
