Fortive

Industrials Industrial Machinery & Supplies & Components Everett, Washington Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$4.2B
                    3y CAGR -10.6%
                    
                    P6
                    
                    +1.9%
                    
                    Net income
                    FY2025
                
$579.2M
                    Net margin +13.9%
                    
                    P59
                    
                    -30.5%
                    
                    Total assets
                    FY2025
                
$11.7B
                    ROA +4.9%
                    
                    P20
                    
                    -31.0%
                    
                    Operating cash flow
                    FY2025
                
$1.1B
                    FCF margin +23.5%
                    
                    P96
                    
                    -29.1%

12 yrs · FY2014–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 3 years

Total assets $11.7B

Total liabilities ~$5.3B

Shareholders equity $6.5B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	9.0%	19.9%	48.3%
Accounts Receivable	16.4%	16.2%	24.5%
Inventory	7.0%	6.6%	13.7%
Prepaid Expenses	5.6%	5.7%	7.3%
Other Current Assets	0.5%	15.1%	—
Total Current Assets	38.6%	63.5%	93.8%
Property,Plant and Equipment	6.5%	5.7%	11.2%
Goodwill	175.5%	176.8%	233.1%
Intangible Assets	52.6%	62.0%	80.7%
Other Noncurrent Assets	9.0%	108.9%	13.3%
Total Assets	282.2%	417.0%	432.1%
Liabilities
Accounts Payable	10.5%	10.4%	15.5%
Accrued Liabilities	21.9%	21.3%	30.2%
Current Portion of Long Term Debt	21.6%	9.2%	0.0%
Other Current Liabilities	0.0%	13.9%	—
Total Current Liabilities	54.0%	54.9%	45.8%
Long Term Debt	55.5%	81.6%	93.2%
Other Noncurrent Liabilities	17.4%	30.7%	29.4%
Equity
Common Stock	0.1%	0.1%	0.1%
Additional Paid In Capital	101.2%	98.9%	98.4%
Retained Earnings	130.5%	201.6%	191.8%
Treasury Stock	77.7%	39.5%	18.3%
Accumulated Other Comprehensive Income	1.0%	-11.4%	-8.3%
Total Stockholders Equity	155.2%	249.7%	263.6%
Noncontrolling Interest	0.2%	0.2%	0.2%
Total Liabilitiesand Equity	282.2%	417.0%	432.1%

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $4.2B

Operating income $720.2M

Net income $579.2M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	36.5%	35.8%	36.7%
Other Income Expense Gross Profit	63.5%	64.2%	63.3%
Expenses Research and Development	6.2%	6.2%	6.1%
Expenses Selling,General and Administrative	40.0%	40.5%	42.6%
Other Income Expense Operating Income	17.3%	17.6%	14.7%
Other Income Expense Interest Expense	2.9%	3.7%	3.2%
Other Income Expense Other Income/expense	0.1%	-1.4%	-0.4%
Other Income Expense Income Before Tax	14.5%	12.4%	11.1%
Income Tax Income Tax Expense	1.7%	0.6%	0.6%
net Income Other Items Below Tax	1.1%	8.6%	11.7%
net Income net Income	13.9%	20.4%	22.1%
net Income Comprehensive Income	18.1%	17.0%	22.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	8.0%	8.6%	9.1%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $1.1B

Investing cash flow $-135.4M

Financing cash flow $-1.4B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	13.9%	20.4%	22.1%
Operating Activities Depreciation and Amortization	10.5%	10.6%	10.9%
Operating Activities Stock Based Compensation	2.8%	2.2%	2.4%
Operating Activities Deferred Income Taxes	-1.2%	-0.6%	-2.1%
Operating Activities Changes In Operating Assets and Liabilities	-0.0%	0.3%	-0.8%
Operating Activities Other Non Cash Items	1.1%	13.2%	13.7%
Operating Activities net Cash From Operating Activities	26.0%	37.4%	34.6%
Investing Activities Capital Expenditures	-2.5%	-2.1%	-2.0%
Investing Activities Business Acquisitions	-0.6%	-0.1%	-2.4%
Investing Activities Other Investing Activities	-0.1%	-41.8%	-0.5%
Investing Activities net Cash From Investing Activities	-3.3%	-44.0%	-5.0%
Financing Activities Proceeds From Debt	0.0%	42.5%	14.0%
Financing Activities Repayment of Debt	-17.2%	-24.5%	-25.5%
Financing Activities Repurchase of Common Stock	-38.7%	-21.8%	-7.0%
Financing Activities Dividends Paid	-2.2%	-2.7%	-2.6%
Financing Activities Other Financing Activities	24.8%	-12.9%	21.9%
Financing Activities net Cash From Financing Activities	-33.3%	-19.4%	0.8%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.3%	-0.3%
Cash Reconciliation net Change In Cash	-10.5%	-26.4%	30.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+63.5%	+64.2%	+63.3%
Operating margin	+17.3%	+17.6%	+14.7%
Net margin	+13.9%	+20.4%	+22.1%
FCF margin	+23.5%	+35.3%	+32.6%
Growth
Revenue CAGR (3y)	-10.6%	-8.1%	-5.5%
Returns
ROE	+9.0%	+8.2%	+8.4%
ROA	+4.9%	+4.9%	+5.1%
ROIC	+6.9%	+5.2%	+4.5%
Liquidity
Current ratio	0.71x	1.16x	2.05x
Quick ratio	0.47x	0.66x	1.59x
Leverage
D/E	0.82x	0.67x	0.64x
Interest coverage	5.98x	4.69x	4.65x
Efficiency
Asset turnover	0.35x	0.24x	0.23x
Cash conversion cycle	+25d	+20d	+71d

Valuation

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