Fortive Corporation, founded in 2016 as a spinoff from Danaher Corporation and headquartered in Everett, Washington, United States, is a diversified industrial technology and solutions company. Under CEO James A. Loree, it pursues growth through strategic acquisitions and lean operational practices. Its portfolio, featuring Fluke-branded measurement tools, advanced process control systems, and software-enabled services, generates recurring revenues with annual sales approaching $7 billion. With a focus on digital transformation and operational excellence, Fortive is well positioned to expand its market share in a competitive industrial landscape.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
8,318,200
8,161,800
7,827,800
5,825,700
Cost of Sales
3,036,000
2,923,600
2,873,600
2,462,300
Gross Profit
2,641,100
2,619,100
2,477,100
3,363,400
Selling, General & Administrative Expenses
1,661,700
1,651,500
1,666,100
1,956,600
Research & Development Expenses
259,200
251,300
237,000
401,500
Other Operating Expenses
—
—
—
17,900
Operating Profit
720,200
716,300
574,000
987,400
Interest Expense
(120,500)
(152,800)
(123,500)
(98,300)
Non-Operating Income
2,500
(57,200)
(17,400)
(15,600)
Total Non-Operating Income
(118,000)
(210,000)
(140,900)
(113,900)
Income Before Provision for Income Taxes
602,200
506,300
433,100
873,500
Provision for Income Taxes
69,500
23,800
24,700
118,300
Consolidated Net Income
532,700
482,500
408,400
755,200
Net Income Attributable to Discontinued Operations
46,500
350,400
457,400
—
Net Income Attributable to Common Shareholders
579,200
832,900
865,800
755,200
Basic EPS
1.74
2.39
2.46
0.89
Diluted EPS
1.73
2.36
2.43
0.88
Basic Weighted Average Shares Outstanding
332,000
349,200
352,500
356,400
Diluted Weighted Average Shares Outstanding
334,600
352,800
355,600
360,800
Shares Outstanding
313,400
341,200
350,700
352,900
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
375,500
813,300
1,888,800
709,200
Total Cash and Cash Equivalents
375,500
813,300
1,888,800
709,200
Accounts Receivable
683,600
661,300
960,800
958,500
Total Trade Receivables
683,600
661,300
960,800
958,500
Inventories
291,800
269,800
536,900
536,700
Other Current Assets
254,800
847,900
285,100
272,600
Total Current Assets
1,605,700
2,592,300
3,671,600
2,477,000
Net Property, Plant & Equipment
269,800
232,900
439,800
421,900
Net Intangible Assets
2,188,400
2,530,500
3,159,800
3,487,400
Goodwill
7,298,300
7,216,000
9,121,700
9,048,500
Other Long-Term Assets
375,500
4,444,400
518,900
455,800
Total Assets
11,737,700
17,016,100
16,911,800
15,890,600
Accounts Payable
436,400
425,400
608,600
623,000
Accrued Expenses
910,700
868,300
1,182,700
1,104,400
Current Portion of Long-Term Debt
899,500
376,200
—
999,700
Other Current Liabilities
—
568,500
—
—
Total Current Liabilities
2,246,600
2,238,400
1,791,300
2,727,100
Long-Term Debt
—
—
—
2,251,600
Other Long-Term Liabilities
3,030,000
4,582,100
1,149,000
1,223,300
Total Long-Term Liabilities
3,030,000
4,582,100
1,149,000
3,474,900
Total Liabilities
5,276,600
6,820,500
3,646,200
6,202,000
Common Stock
3,700
3,700
3,600
3,600
Treasury Stock
(3,229,800)
(1,612,300)
(715,800)
(442,900)
Additional Paid-in Capital
4,210,000
4,035,000
3,851,300
3,706,300
Accumulated Other Comprehensive Income
41,000
(465,400)
(326,100)
(325,700)
Retained Earnings
5,428,500
8,227,600
7,505,900
6,742,100
Total Common Shareholders' Equity
6,453,400
10,188,600
10,318,900
9,683,400
Minority Interests and Other
7,700
7,000
6,400
5,200
Total Shareholders' Equity
6,461,100
10,195,600
10,325,300
9,688,600
Total Liabilities and Shareholders' Equity
11,737,700
17,016,100
16,911,800
15,890,600
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
1,111,900
1,315,400
1,274,200
755,200
Depreciation & Amortization
437,600
430,900
426,200
465,600
Share-Based Compensation Expense
116,800
90,100
94,500
93,800
Other Adjustments
(49,900)
14,600
(66,300)
(35,600)
Changes in Trade Receivables
8,700
(15,500)
(700)
(52,100)
Changes in Inventories
(20,000)
(7,900)
7,700
(40,300)
Changes in Accounts Payable
12,400
51,100
2,200
81,300
Changes in Accrued Expenses
13,000
(26,800)
26,700
41,900
Changes in Other Operating Activities
31,900
507,800
454,900
(6,600)
Cash from Operating Activities
1,083,200
1,526,800
1,353,600
1,303,200
Capital Expenditure
(105,100)
(86,100)
(78,600)
(95,800)
Payments for Business Acquisitions
(25,700)
(3,600)
(95,800)
(12,800)
Proceeds from Business Divestments
—
—
—
9,600
Other Investing Activities
(4,600)
(1,706,300)
(21,000)
(3,500)
Cash from Investing Activities
(135,400)
(1,796,000)
(195,400)
(102,500)
Net Issuance / (Repayments) of Short-Term Debt
900
(596,500)
839,900
38,500
Issuance of Long-Term Debt
—
1,733,500
549,300
1,394,100
Repayments of Long-Term Debt
(715,700)
(1,000,000)
(1,000,000)
(1,000,000)
Net Issuance / (Repayments) of Long-Term Debt
(715,700)
733,500
(450,700)
394,100
Repurchases of Common Shares
(1,610,100)
(889,600)
(272,900)
(442,900)
Net Issuance / (Repurchases) of Common Shares
(1,610,100)
(889,600)
(272,900)
(442,900)
Common Share Dividends Paid
(92,200)
(111,200)
(102,000)
(99,500)
Other Financing Activities
1,030,500
71,100
18,000
(1,163,200)
Cash from Financing Activities
(1,386,600)
(792,700)
32,300
(1,273,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
1,000
(13,600)
(10,900)
(37,800)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash