FTV Fortive Corp

Overview and Growth

In fiscal 2025, Fortive Corp recorded $4.16B of revenue, net income of $579.20M, and an operating cash inflow of $1.08B. Revenue of $4.16B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 1.9% above fiscal 2024 revenue of $4.08B, marking a year-over-year increase. Diluted earnings per share were $1.73, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $2.36 in fiscal 2024, the current result was 26.7% lower. Revenue equaled 0.35x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $2.64B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 63.5% of revenue, quantifying the portion retained before operating expenses were recognized. Operating income was $720.20M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 17.3%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $579.20M, after the operating, financing, tax, and other items recognized for the period. The final earnings result represented 13.9% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $602.20M of pretax income, the profit base against which the reported tax provision can be assessed. The pretax margin was 14.5%, relating income before taxes directly to revenue. The reported income-tax provision was $69.50M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 11.5%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

Total assets were $11.74B, supported by $5.28B of liabilities and $6.46B of shareholder equity. At period end, current assets of $1.61B compared with current liabilities of $2.25B, defining the company’s short-term resource position. The current ratio was 0.71x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Cash and equivalents totaled $375.50M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 16.7%, excluding receivables and other current assets. Total debt was $3.21B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.5x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 27.3%, comparing borrowing with the total asset balance. Liabilities represented 45.0% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 3.2% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $17.02B in fiscal 2024, the current asset base moved 31.0% and finished lower.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $1.08B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 1.87x, showing the relationship between accrual earnings and operating cash. Capital spending was $105.10M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 9.7%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $978.10M of positive free cash flow for the period. The free-cash-flow margin was 23.5%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 8.3% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.