Fortive (FTV) Financial Statements

Financials

all figures in US$ Millions except per share data

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Actual

10 year cagr

Fiscal

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Average (A)

Fiscal period end dates

Expand all rows

01Earnings per share

2.5

8.3

2.2

4.3

1.6

2.1

2.4

1.7

(3.6)%

02Free cash flow per share

2.6

2.9

3.5

3.4

3.8

2.6

3.3

3.5

3.1

1.8%

03Dividends per share

0.1

0.2

04Dividends payout, %

3.5%

9.3%

4.5%

22%

10.1%

21.7%

13.2%

11.8%

13.4%

15.9%

PROFIT AND LOSS STATEMENT

05Revenue

$ 6,179

$ 6,224

$ 5,756

$ 6,453

$ 4,564

$ 4,634

$ 5,255

$ 5,826

$ 6,065

$ 6,232

$ 5,143

(1.8)%

06% Change

0.7%

(7.5)%

12.1%

(29.3)%

1.5%

13.4%

10.9%

4.1%

2.8%

(17.5)%

(1.8)%

07Cost of revenue

(3,178)

(3,183)

(2,833)

(3,129)

(2,067)

(2,018)

(2,245)

(2,462)

(2,471)

(2,501)

(2,008)

(4.5)%

08Gross profit

3,001

3,041

2,923

3,323

2,497

2,617

3,010

3,363

3,594

3,731

3,135

0.4%

09% Margin

48.6%

48.9%

50.8%

51.5%

54.7%

56.5%

57.3%

57.7%

59.3%

59.9%

61%

55.1% A

10Operating expenses

(1,707)

(1,773)

(1,762)

(2,138)

(1,968)

(1,967)

(2,178)

(2,358)

(2,460)

(2,554)

(2,226)

2.7%

11% of Revenue

(27.6)%

(28.5)%

(30.6)%

(33.1)%

(43.1)%

(42.4)%

(41.5)%

(40.5)%

(40.6)%

(41)%

(43.3)%

(37.5)% A

12Operating Income

1,294

1,268

1,162

1,185

529.3

650.2

831.5

1,005

1,134

1,177

908.9

(3.5)%

13Income tax expense

(405.9)

(324.7)

(189.3)

(160.1)

(68.6)

(55.5)

(63.3)

(118.3)

(125)

(136.7)

(112.7)

(12)%

14Net Income

863.8

872.3

1,045

2,914

738.9

1,613

608.4

755.2

865.8

832.9

579.2

(3.9)%

15% Margin

14%

18.2%

45.2%

16.2%

34.8%

11.6%

13%

14.3%

13.4%

11.3%

18.7% A

16Shares Outstanding

345,200

347,300

352,600

350,700

340,000

359,000

352,300

360,800

355,600

352,800

319,400

(0.8)%

17EPS Basic

2.5

8.4

2.2

4.6

1.6

2.1

2.5

2.4

1.8

(3.5)%

18EPS Diluted

2.5

8.3

2.2

4.3

1.6

2.1

2.4

1.7

(3.6)%

19EBITDA

1,447

1,422

1,321

1,436

820.8

2,040

1,176

1,437

1,571

1,666

1,312

(1)%

% Margin

23.4%

22.9%

22.3%

18%

44%

22.4%

24.7%

25.9%

26.7%

25.5%

25.3% A

20Net Interest Income (expense)

(49)

(88.7)

(97)

(142.6)

(148.5)

(103.2)

(98.3)

(123.5)

(152.8)

(120.5)

21Net Debt / EBITDA

1.8

2.3

1.6

6.5

1.3

2.8

1.9

1.2

1.8

2.2

2.1 A

BALANCE SHEET

ASSETS

Current Assets

22Cash & equivalents

803.2

962.1

1,178

1,205

1,825

819.3

709.2

1,889

813.3

375.5

23Short-term investments

1,119

24Accounts receivable

979.3

945.4

1,021

1,195

890.7

810.3

930.2

958.5

960.8

945.4

683.6

(3.5)%

25Other current assets

91.9

195.5

447.5

223.2

1,177

237.1

252.7

272.6

285.1

288.8

254.8

10.7%

26Inventory

522.9

544.6

580.6

574.5

640.3

455.5

512.7

536.7

536.9

544.8

291.8

(5.7)%

27Total Current Assets

1,594

2,489

2,937

3,171

3,689

4,447

2,515

2,477

3,672

2,592

1,606

0.1%

Non-Current Assets

28Net property, plant & equipment

514.8

547.6

610.4

576.1

585

610.7

395.5

421.9

439.8

433.1

269.8

(6.3)%

29Long-term investments

30Other non-current assets

5,102

5,154

6,953

9,158

13,165

10,994

13,555

12,992

12,800

13,932

9,862

6.8%

31Total Non-Current Assets

5,617

5,701

7,564

9,734

13,750

11,605

13,951

13,414

13,240

14,424

10,132

6.1%

Total Assets

7,211

8,190

10,501

12,906

17,439

16,052

16,466

15,891

16,912

17,016

11,738

LIABILITIES

Current Liabilities

32Accounts payable

657.1

666.2

629

706.5

449

480.8

557.9

623

608.6

677.4

436.4

(4)%

33Short-term debt

455.6

1,542

1,447

2,196

1,038

37.6

413

899.5

34Other current liabilities

666.4

800.3

973.3

1,030

1,476

933.2

960.7

1,066

1,145

1,148

910.7

3.2%

35Total Current Liabilities

1,324

1,467

1,602

2,192

3,467

2,861

3,715

2,727

1,791

2,238

2,247

5.4%

Non-Current Liabilities

36Long-term debt

3,358

4,060

2,975

4,960

2,985

1,947

2,383

3,773

3,464

2,307

37Other non-current liabilities

704.6

674.3

1,031

1,126

1,612

1,233

1,286

1,092

1,023

1,118

723.5

0.3%

38Total Non-Current Liabilities

704.6

4,032

5,090

4,101

6,572

4,218

3,234

3,475

4,795

4,582

3,030

15.7%

39Total Liabilities

2,028

5,499

6,692

6,293

10,039

7,079

6,949

6,202

6,587

6,821

5,277

10%

SHAREHOLDERS` EQUITY

40Common stock

5,194

3.5

3.4

3.6

3.7

(51.6)%

41Retained earnings / (deficit)

403

1,350

3,553

4,129

5,547

6,024

6,742

7,506

8,228

5,429

42Accumulated other comprehensive income / (loss)

(14.4)

(145.8)

(7.6)

(86.6)

(56.3)

(141.1)

(185)

(325.7)

(326.1)

(465.4)

43Noncontrolling interests

3.1

17.9

17.4

13.2

8.5

4.8

5.2

6.4

7.7

9.9%

44Total shareholders' equity

5,183

2,691

3,808

6,613

7,400

8,973

9,517

9,689

10,325

10,196

6,461

2.2%

45Total Liabilities and shareholders' Equity

7,211

8,190

10,501

12,906

17,439

16,052

16,466

15,891

16,912

17,016

11,738

46Total Debt

3,358

4,056

3,430

6,502

4,431

4,144

3,421

3,810

3,877

3,206

47Net Debt

2,555

3,094

2,252

5,297

2,607

3,324

2,712

1,921

3,064

2,831

CASH FLOW STATEMENT

CASH FLOWS FROM OPERATING ACTIVITIES

48Net income (loss)

863.8

872.3

1,045

2,914

738.9

1,613

608.4

755.2

865.8

832.9

579.2

(3.9)%

49Depreciation & amortization

176.9

176.4

158.3

260.8

341.5

384

395.5

465.6

456.8

543.9

437.6

9.5%

50Share-based compensation expense

35.2

45.3

48.6

50.8

61.4

62.6

77.4

93.8

113.3

109.2

116.8

12.7%

51Changes in working capital and other assets

(66.9)

42.9

(75)

(1,881)

129.6

(623.2)

(120.2)

(11.4)

(82.3)

40.8

(50.4)

(2.8)%

52Net cash flows from operating activities

1,009

1,137

1,176

1,344

1,271

1,437

961.1

1,303

1,354

1,527

1,083

0.7%

CASH FLOWS FROM INVESTING ACTIVITIES

53Purchases of property, plant and equipment

(120.1)

(129.6)

(136.1)

(112.3)

(112.5)

(75.7)

(50)

(95.8)

(107.8)

(120.4)

(105.1)

(1.3)%

54Purchases of investments / marketable securities

55Proceeds from maturities of marketable securities

56Other investing activities

(54)

(181.2)

(1,534)

(1,854)

(3,942)

(72.7)

(2,566)

(6.7)

(87.6)

(1,676)

(30.3)

(5.6)%

57Net cash flows from investing activities

(174.1)

(310.8)

(1,670)

(1,967)

(4,055)

(148.4)

(2,616)

(102.5)

(195.4)

(1,796)

(135.4)

(2.5)%

CASH FLOWS FROM FINANCING ACTIVITIES

58Issuance (repurchases) of common stock, net

2,821

(442.9)

(272.9)

(889.6)

(1,610)

59Dividends paid, net

(3,048)

(97.2)

(131.5)

(162.8)

(163.4)

(132.2)

(99.5)

(102)

(111.2)

(92.2)

60Debt issuance (repayments), net

3,352

682.1

(108.7)

2,953

(2,131)

753.6

(723.9)

389.2

137

(714.8)

61Other financing activities

(834.9)

(299.7)

14.8

(1,702)

1,598

30.6

(6.7)

71.1

1,031

62Net cash flows from financing activities

(834.9)

3.8

599.7

879.1

2,803

(696.1)

652

(1,273)

32.3

(792.7)

(1,387)

5.2%

63Increase (decrease) in cash and cash equivalents

803.2

158.9

216.3

26.8

619.6

(1,006)

(110.1)

1,180

(1,076)

(437.8)

64Cash and equivalents, ending balance

803.2

962.1

1,178

1,205

1,825

819.3

709.2

1,889

813.3

375.5

65Free Cash Flow to the Firm (FCFF)

888.9

1,007

1,040

1,232

1,159

1,361

911.1

1,207

1,246

1,406

978.1

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