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Fortive Corp Financials

FTV
Source SEC Filings (10-K/10-Q) Updated Apr 3, 2026 Currency USD FYE December

This page shows Fortive Corp (FTV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FTV FY2025

Fortive is running a high-margin, low-capex cash engine while capital returns make the balance sheet look tighter than operations do.

From FY2023 through FY2025, revenue stayed clustered near $4B while gross margin stayed above 63%, which fits a smaller but richer revenue base rather than a business that needs volume to defend profitability. That is why FY2025’s net income drop to $579M says less about the core engine than it seems: operating income remained essentially unchanged from FY2024 at $720M.

FY2025 operating cash flow of $1.08B still exceeded net income of $579M, so accounting earnings continued to turn into cash even in a weaker bottom-line year. With capex at only 0.1x operating cash flow, free cash flow is driven more by operating economics than by heavy reinvestment needs.

The current ratio fell to 0.7x after $1.61B of buybacks, so the tighter short-term cushion reflects aggressive cash deployment as much as any operating strain. At the same time, goodwill of $7.3B still sits above equity of $6.5B, leaving book value heavily shaped by past acquisitions rather than by liquid assets.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 55 / 100
Financial Profile 55/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Fortive Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
60

Fortive Corp has an operating margin of 17.3%, meaning the company retains $17 of operating profit per $100 of revenue. This results in a moderate score of 60/100, indicating healthy but not exceptional operating efficiency. This is down from 17.5% the prior year.

Growth
38

Fortive Corp's revenue grew a modest 1.9% year-over-year to $4.2B. This slow but positive growth earns a score of 38/100.

Leverage
95

Fortive Corp carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
9

Fortive Corp's current ratio of 0.71 is below the typical benchmark, resulting in a score of 9/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
97

Fortive Corp converts 23.5% of revenue into free cash flow ($978.1M). This strong cash generation earns a score of 97/100.

Returns
29

Fortive Corp generates a 8.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is up from 8.2% the prior year.

Altman Z-Score Safe
3.22

Fortive Corp scores 3.22, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($18.3B) relative to total liabilities ($5.3B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Fortive Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
2.03x

For every $1 of reported earnings, Fortive Corp generates $2.03 in operating cash flow ($1.1B OCF vs $532.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
6.0x

Fortive Corp earns $6.0 in operating income for every $1 of interest expense ($720.2M vs $120.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$4.2B
YoY+1.9%
5Y CAGR-2.1%
10Y CAGR-3.9%

Fortive Corp generated $4.2B in revenue in fiscal year 2025. This represents an increase of 1.9% from the prior year.

EBITDA
$1.2B
YoY+0.9%
5Y CAGR+4.6%
10Y CAGR-2.2%

Fortive Corp's EBITDA was $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.9% from the prior year.

Net Income
$532.7M
YoY-36.0%
5Y CAGR-19.9%
10Y CAGR-4.7%

Fortive Corp reported $532.7M in net income in fiscal year 2025. This represents a decrease of 36.0% from the prior year.

EPS (Diluted)
$1.73
YoY-26.7%
5Y CAGR-17.4%

Fortive Corp earned $1.73 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 26.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$978.1M
YoY-32.1%
5Y CAGR-6.4%
10Y CAGR+1.0%

Fortive Corp generated $978.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 32.1% from the prior year.

Cash & Debt
$375.5M
YoY-53.8%
5Y CAGR-27.1%

Fortive Corp held $375.5M in cash against $2.3B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
313M
YoY-8.1%
5Y CAGR-1.5%

Fortive Corp had 313M shares outstanding in fiscal year 2025. This represents a decrease of 8.1% from the prior year.

Margins & Returns

Gross Margin
63.5%
YoY-0.7pp
5Y CAGR+7.2pp
10Y CAGR+15.0pp

Fortive Corp's gross margin was 63.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.

Operating Margin
17.3%
YoY-0.2pp
5Y CAGR+5.7pp
10Y CAGR-3.2pp

Fortive Corp's operating margin was 17.3% in fiscal year 2025, reflecting core business profitability. This is down 0.2 percentage points from the prior year.

Net Margin
12.8%
YoY-7.6pp
5Y CAGR-22.0pp
10Y CAGR-1.2pp

Fortive Corp's net profit margin was 12.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.6 percentage points from the prior year.

Return on Equity
8.3%
YoY+0.1pp
5Y CAGR-9.7pp
10Y CAGR-8.4pp

Fortive Corp's ROE was 8.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$259.2M
YoY+3.1%
5Y CAGR-4.2%
10Y CAGR-3.7%

Fortive Corp invested $259.2M in research and development in fiscal year 2025. This represents an increase of 3.1% from the prior year.

Share Buybacks
$1.6B
YoY+81.0%

Fortive Corp spent $1.6B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 81.0% from the prior year.

Capital Expenditures
$105.1M
YoY+22.1%
5Y CAGR+6.8%
10Y CAGR-1.3%

Fortive Corp invested $105.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 22.1% from the prior year.

FTV Income Statement

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $1.1B-4.7% $1.1B+9.3% $1.0B+1.1% $1.0B+2.3% $993.1M-7.4% $1.1B+6.9% $1.0B-1.6% $1.0B
Cost of Revenue $393.9M N/A $377.9M-39.4% $623.1M+75.2% $355.6M N/A $362.2M-42.0% $624.1M
Gross Profit $675.5M-4.7% $708.9M+9.2% $649.2M+0.6% $645.5M+1.3% $637.5M-8.3% $695.5M+8.4% $641.5M-1.9% $653.6M
R&D Expenses $66.5M N/A $62.0M-43.2% $109.2M+70.6% $64.0M N/A $62.0M-38.7% $101.1M
SG&A Expenses $417.3M N/A $427.6M-24.2% $564.3M+38.2% $408.2M N/A $407.5M-22.4% $525.4M
Operating Income $191.7M-15.0% $225.5M+41.3% $159.6M-6.0% $169.8M+2.7% $165.3M-22.1% $212.2M+23.4% $172.0M-5.7% $182.3M
Interest Expense -$31.6M N/A -$25.4M+20.9% -$32.1M-0.3% -$32.0M N/A -$37.1M+4.1% -$38.7M
Income Tax $27.2M N/A $18.0M-29.1% $25.4M+20.4% $21.1M N/A -$2.4M-107.1% $33.6M
Net Income $136.4M-26.5% $185.7M+237.6% $55.0M-67.0% $166.6M-3.1% $171.9M-17.7% $208.8M-5.8% $221.6M+13.6% $195.1M
EPS (Diluted) $0.44-24.1% $0.58+262.5% $0.16-67.3% $0.49-2.0% $0.50-16.7% $0.60-4.8% $0.63+14.5% $0.55

FTV Balance Sheet

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $11.6B-1.3% $11.7B-1.3% $11.9B-34.8% $18.2B+6.5% $17.1B+0.7% $17.0B-2.5% $17.5B+1.0% $17.3B
Current Assets $1.5B-3.6% $1.6B-7.3% $1.7B-53.0% $3.7B+36.2% $2.7B+4.3% $2.6B-1.6% $2.6B+4.6% $2.5B
Cash & Equivalents $356.1M-5.2% $375.5M-12.8% $430.8M-76.5% $1.8B+105.4% $892.1M+9.7% $813.3M+0.2% $811.3M+26.0% $644.1M
Inventory $305.5M+4.7% $291.8M-6.1% $310.6M-49.1% $610.4M+7.5% $568.0M+110.5% $269.8M-52.2% $563.9M-1.4% $572.0M
Accounts Receivable $647.0M-5.4% $683.6M+7.9% $633.6M-30.5% $912.2M-1.8% $929.3M+40.5% $661.3M-27.5% $912.2M-2.4% $934.5M
Goodwill $7.3B-0.1% $7.3B+0.3% $7.3B-30.1% $10.4B+1.6% $10.2B+42.0% $7.2B-30.1% $10.3B+1.0% $10.2B
Total Liabilities $5.5B+4.1% $5.3B-1.8% $5.4B-31.5% $7.9B+13.9% $6.9B+1.1% $6.8B-1.0% $6.9B+1.7% $6.8B
Current Liabilities $2.2B-2.7% $2.2B-9.0% $2.5B-34.1% $3.7B+37.4% $2.7B+21.8% $2.2B+6.5% $2.1B+2.7% $2.0B
Long-Term Debt $2.6B+12.3% $2.3B+8.9% $2.1B-27.2% $2.9B-0.8% $2.9B-12.1% $3.3B-3.5% $3.5B+1.6% $3.4B
Total Equity $6.1B-5.7% $6.5B-0.8% $6.5B-37.4% $10.4B+1.4% $10.2B+0.5% $10.2B-3.5% $10.6B+0.5% $10.5B
Retained Earnings $5.5B+2.2% $5.4B+3.1% $5.3B-38.2% $8.5B+1.7% $8.4B+1.8% $8.2B+2.3% $8.0B+2.5% $7.9B

FTV Cash Flow Statement

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $234.8M-35.8% $365.9M+122.6% $164.4M-47.2% $311.2M+28.8% $241.7M-51.9% $502.2M+9.4% $459.0M+48.6% $308.9M
Capital Expenditures $26.6M-12.5% $30.4M+6.3% $28.6M-22.1% $36.7M+73.9% $21.1M-6.6% $22.6M+4.6% $21.6M-26.0% $29.2M
Free Cash Flow $208.2M-37.9% $335.5M+147.1% $135.8M-50.5% $274.5M+24.4% $220.6M-54.0% $479.6M+9.6% $437.4M+56.4% $279.7M
Investing Cash Flow -$26.7M+52.5% -$56.2M-97.9% -$28.4M-15.4% -$24.6M+6.1% -$26.2M-789.5% $3.8M+121.6% -$17.6M+60.7% -$44.8M
Financing Cash Flow -$228.5M+37.1% -$363.5M+76.3% -$1.5B-335.6% $650.3M+561.2% -$141.0M+71.6% -$496.0M-76.1% -$281.6M+12.5% -$322.0M
Dividends Paid $18.4M-2.1% $18.8M-2.1% $19.2M-28.9% $27.0M-0.7% $27.2M-0.4% $27.3M-1.8% $27.8M-0.7% $28.0M
Share Buybacks $500.2M+88.8% $265.0M-73.5% $1.0B+605.1% $141.9M-30.0% $202.6M-56.6% $466.6M+72.8% $270.1M+76.7% $152.9M

FTV Financial Ratios

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 63.2%+0.0pp 63.1%-0.1pp 63.2%-0.3pp 63.5%-0.7pp 64.2%-0.6pp 64.8%+0.9pp 63.9%-0.2pp 64.1%
Operating Margin 17.9%-2.2pp 20.1%+4.5pp 15.5%-1.2pp 16.7%+0.1pp 16.6%-3.1pp 19.8%+2.6pp 17.1%-0.7pp 17.9%
Net Margin 12.8%-3.8pp 16.5%+11.2pp 5.3%-11.0pp 16.4%-0.9pp 17.3%-2.1pp 19.5%-2.6pp 22.1%+3.0pp 19.1%
Return on Equity 2.2%-0.6pp 2.9%+2.0pp 0.9%-0.8pp 1.6%-0.1pp 1.7%-0.4pp 2.1%-0.1pp 2.1%+0.2pp 1.9%
Return on Assets 1.2%-0.4pp 1.6%+1.1pp 0.5%-0.5pp 0.9%-0.1pp 1.0%-0.2pp 1.2%-0.0pp 1.3%+0.1pp 1.1%
Current Ratio 0.710.0 0.71+0.0 0.70-0.3 0.980.0 0.99-0.2 1.16-0.1 1.25+0.0 1.23
Debt-to-Equity 0.43+0.1 0.36+0.0 0.33+0.0 0.280.0 0.29-0.0 0.330.0 0.330.0 0.32
FCF Margin 19.5%-10.4pp 29.9%+16.7pp 13.2%-13.8pp 27.0%+4.8pp 22.2%-22.5pp 44.7%+1.1pp 43.6%+16.2pp 27.4%

Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Fortive Corp (FTV) reported $4.2B in total revenue for fiscal year 2025. This represents a 1.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Fortive Corp (FTV) revenue grew by 1.9% year-over-year, from $4.1B to $4.2B in fiscal year 2025.

Yes, Fortive Corp (FTV) reported a net income of $532.7M in fiscal year 2025, with a net profit margin of 12.8%.

Fortive Corp (FTV) reported diluted earnings per share of $1.73 for fiscal year 2025. This represents a -26.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Fortive Corp (FTV) had EBITDA of $1.2B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Fortive Corp (FTV) had $375.5M in cash and equivalents against $2.3B in long-term debt.

Fortive Corp (FTV) had a gross margin of 63.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Fortive Corp (FTV) had an operating margin of 17.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Fortive Corp (FTV) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Fortive Corp (FTV) has a return on equity of 8.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Fortive Corp (FTV) generated $978.1M in free cash flow during fiscal year 2025. This represents a -32.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Fortive Corp (FTV) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Fortive Corp (FTV) had $11.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Fortive Corp (FTV) invested $105.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Fortive Corp (FTV) invested $259.2M in research and development during fiscal year 2025.

Yes, Fortive Corp (FTV) spent $1.6B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Fortive Corp (FTV) had 313M shares outstanding as of fiscal year 2025.

Fortive Corp (FTV) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Fortive Corp (FTV) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Fortive Corp (FTV) had a return on assets of 4.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Fortive Corp (FTV) has an Altman Z-Score of 3.22, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Fortive Corp (FTV) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Fortive Corp (FTV) has an earnings quality ratio of 2.03x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Fortive Corp (FTV) has an interest coverage ratio of 6.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Fortive Corp (FTV) scores 55 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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