Fortive (FTV) financial statements
Fortive reported revenue of $4.2B in fiscal 2025, down 2.8% a year over 9 years.
Net income was $579M and the operating margin 17.3%, against 19.7% in 2016.
Free cash flow was $978M, and the company returned $92M in dividends and $1.6B in net buybacks.
The diluted share count fell 4% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fortive's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.4B | $5.8B | $3.8B | $4.6B | $4.6B | $5.3B | $5.8B | $3.9B | $4.1B | $4.2B |
| Cost of revenue | $2.7B | $2.8B | $1.6B | $2.1B | $2.0B | $2.2B | $2.5B | $1.4B | $1.5B | $1.5B |
| Gross profit | $2.7B | $2.9B | $2.2B | $2.5B | $2.6B | $3.0B | $3.4B | $2.5B | $2.6B | $2.6B |
| Research and development | $351M | $369M | $278M | $320M | $321M | $355M | $402M | $237M | $251M | $259M |
| Selling, general and admin | $1.3B | $1.4B | $1.3B | $1.7B | $1.7B | $1.8B | $2.0B | $1.7B | $1.7B | $1.7B |
| Operating income | $1.1B | $1.1B | $645M | $444M | $539M | $813M | $987M | $574M | $716M | $720M |
| Interest expense | $46M | $89M | $77M | $143M | $148M | $103M | $98M | $124M | $153M | $120M |
| Pre-tax income | $1.0B | $1.1B | $566M | $337M | $1.5B | $678M | $874M | $433M | $506M | $602M |
| Income tax | $270M | $189M | $76M | $69M | $56M | $63M | $118M | $25M | $24M | $70M |
| Net income | $872M | $1.0B | $2.9B | $670M | $1.5B | $574M | $755M | $866M | $833M | $579M |
| EPS (diluted) | $2.51 | $2.96 | $8.21 | $1.97 | $4.49 | $1.63 | $2.10 | $2.43 | $2.36 | $1.73 |
| Diluted shares | 347M | 353M | 351M | 340M | 359M | 352M | 361M | 356M | 353M | 335M |
| Gross margin | 49.9% | 50.8% | 57.5% | 54.4% | 56.3% | 57.2% | 57.7% | 63.3% | 64.2% | 63.5% |
| Operating margin | 19.7% | 19.9% | 17.0% | 9.7% | 11.6% | 15.5% | 16.9% | 14.7% | 17.6% | 17.3% |
| Net margin | 16.2% | 18.1% | 75.8% | 14.7% | 33.3% | 10.9% | 13.0% | 22.1% | 20.4% | 13.9% |
Balance sheet
Fiscal years, from Fortive's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $803M | $962M | $1.2B | $1.2B | $1.8B | $819M | $709M | $1.9B | $813M | $376M |
| Receivables | $945M | $1.0B | $1.2B | $891M | $810M | $930M | $958M | $961M | $661M | $684M |
| Inventory | $545M | $507M | $574M | $416M | $456M | $513M | $537M | $537M | $270M | $292M |
| Total current assets | $2.5B | $2.9B | $3.2B | $3.7B | $4.4B | $2.5B | $2.5B | $3.7B | $2.6B | $1.6B |
| Property, plant and equipment | $548M | $610M | $396M | $416M | $422M | $396M | $422M | $440M | $233M | $270M |
| Goodwill | $3.4B | $4.6B | $5.0B | $7.2B | $7.4B | $9.2B | $9.0B | $7.3B | $7.2B | $7.3B |
| Total assets | $8.2B | $10.5B | $12.9B | $17.4B | $16.1B | $16.5B | $15.9B | $16.9B | $17.0B | $11.7B |
| Total current liabilities | $1.5B | $1.6B | $2.2B | $3.5B | $2.9B | $3.7B | $2.7B | $1.8B | $2.2B | $2.2B |
| Long-term debt | $3.4B | $4.1B | $3.0B | $4.8B | $2.8B | $1.8B | $2.3B | $3.6B | $3.3B | $2.3B |
| Total liabilities | $5.5B | $6.7B | $6.3B | $10.0B | $7.1B | $6.9B | $6.2B | $6.6B | $6.8B | $5.3B |
| Shareholders' equity | $2.7B | $3.8B | $6.6B | $7.4B | $9.0B | $9.5B | $9.7B | $10.3B | $10.2B | $6.5B |
| Net debt | $2.6B | $3.1B | $2.3B | $5.1B | $2.4B | $3.1B | $2.5B | $1.8B | $2.9B | $2.8B |
Cash flow
Fiscal years, from Fortive's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.1B | $1.2B | $1.3B | $1.3B | $1.4B | $961M | $1.3B | $1.4B | $1.5B | $1.1B |
| Capital spending | $110M | $111M | $70M | $74M | $76M | $50M | $96M | $79M | $86M | $105M |
| Free cash flow | $1.0B | $1.1B | $1.3B | $1.2B | $1.4B | $911M | $1.2B | $1.3B | $1.4B | $978M |
| Stock-based compensation | $41M | $44M | $41M | $52M | $63M | $77M | $94M | $94M | $90M | $117M |
| Dividends paid | $48M | $97M | $97M | $94M | $94M | $98M | $100M | $102M | $111M | $92M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$443M | -$273M | -$890M | -$1.6B |
| Net borrowing | — | $556M | -$266M | $495M | -$1.1B | $365M | $38M | $840M | -$596M | $900,000 |
| Free cash flow margin | 19.1% | 18.5% | 33.5% | 26.2% | 29.4% | 17.3% | 20.7% | 32.6% | 35.3% | 23.5% |
| Dividends per share | $0.14 | $0.28 | $0.28 | $0.28 | $0.26 | $0.28 | $0.28 | $0.29 | $0.32 | $0.28 |
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Open FTV in InvestinglyQuestions
What was Fortive's revenue in 2025?
$4.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Fortive generate?
$978M in fiscal 2025 (operating cash flow minus capital spending).
From Fortive's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.