Fortive (FTV) intrinsic value & 10-year financials
Fortive (FTV) has a Graham intrinsic value of $0.60 per share. At $57.79 on Oct 17, 2026, the stock trades 9532% above that value. Over the last 10 fiscal years revenue shrank 2.8% a year to $4.2B, with an average return on invested capital of 9.7%.
- Graham intrinsic value
- $0.60
- Share price (Oct 17, 2026)
- $57.79
- Price vs Graham value
- 9532% above
- Market cap
- $19.3B
- Revenue (FY2025)
- $4.2B
- Revenue growth (10-yr CAGR)
- -2.8%
- ROIC (10-yr avg)
- 9.7%
- Free cash flow (FY2025)
- $978.1M
FTV 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.2B | $579.2M | $1.73 | $978.1M | 17.3% | 5.7% |
| FY2024 | $6.2B | $832.9M | $2.36 | $1.4B | 19.4% | 8.2% |
| FY2023 | $6.1B | $865.8M | $2.43 | $1.2B | 18.7% | 8.1% |
| FY2022 | $5.8B | $755.2M | $2.10 | $1.2B | 16.9% | 6.8% |
| FY2021 | $5.3B | $608.4M | $1.63 | $911.1M | 15.5% | 6.1% |
| FY2020 | $4.6B | $1.6B | $4.49 | $1.4B | 11.6% | 4.3% |
| FY2019 | $7.3B | $738.9M | $1.97 | $1.2B | 13.7% | 7.8% |
| FY2018 | $6.5B | $2.9B | $8.21 | $1.2B | 18.3% | 14.2% |
| FY2017 | $5.8B | $1.0B | $2.96 | $1.0B | 23.5% | 18.2% |
| FY2016 | $5.4B | $872.3M | $2.51 | $1.0B | 23.2% | 17.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Fortive is facing top-line stagnation, with revenue contracting over the decade.
Fortive returns on capital have been average, hovering around 9.7% ROIC over the decade.
Fortive has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Fortive is modeled at -4.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.60 per share.