Intrinsic value of Fortive - FTV

Previous Close

$79.56

  Intrinsic Value

$54.45

stock screener

  Rating & Target

sell

-32%

Previous close

$79.56

 
Intrinsic value

$54.45

 
Up/down potential

-32%

 
Rating

sell

We calculate the intrinsic value of FTV stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 27.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  7,115
  7,593
  8,089
  8,606
  9,143
  9,703
  10,286
  10,894
  11,528
  12,189
  12,879
  13,600
  14,353
  15,140
  15,963
  16,823
  17,724
  18,666
  19,652
  20,686
  21,768
  22,901
  24,089
  25,334
  26,639
  28,008
  29,442
  30,947
  32,525
  34,180
Variable operating expenses, $m
  5,271
  5,582
  5,905
  6,242
  6,592
  6,956
  7,336
  7,732
  8,145
  8,575
  8,387
  8,857
  9,347
  9,859
  10,395
  10,956
  11,542
  12,156
  12,798
  13,471
  14,176
  14,914
  15,687
  16,498
  17,348
  18,239
  19,173
  20,153
  21,181
  22,259
Fixed operating expenses, $m
  341
  349
  357
  364
  372
  381
  389
  398
  406
  415
  424
  434
  443
  453
  463
  473
  484
  494
  505
  516
  527
  539
  551
  563
  575
  588
  601
  614
  628
  642
Total operating expenses, $m
  5,612
  5,931
  6,262
  6,606
  6,964
  7,337
  7,725
  8,130
  8,551
  8,990
  8,811
  9,291
  9,790
  10,312
  10,858
  11,429
  12,026
  12,650
  13,303
  13,987
  14,703
  15,453
  16,238
  17,061
  17,923
  18,827
  19,774
  20,767
  21,809
  22,901
Operating income, $m
  1,503
  1,662
  1,827
  2,000
  2,179
  2,366
  2,561
  2,765
  2,977
  3,199
  4,068
  4,310
  4,563
  4,827
  5,104
  5,394
  5,698
  6,016
  6,349
  6,699
  7,065
  7,448
  7,851
  8,273
  8,716
  9,180
  9,668
  10,179
  10,716
  11,280
EBITDA, $m
  2,801
  3,005
  3,216
  3,437
  3,666
  3,905
  4,154
  4,414
  4,685
  4,968
  5,264
  5,573
  5,896
  6,234
  6,587
  6,957
  7,345
  7,750
  8,175
  8,620
  9,087
  9,576
  10,089
  10,626
  11,190
  11,782
  12,403
  13,054
  13,738
  14,455
Interest expense (income), $m
  0
  219
  244
  270
  297
  325
  354
  385
  416
  450
  484
  520
  558
  597
  638
  681
  725
  772
  821
  873
  926
  982
  1,041
  1,103
  1,168
  1,235
  1,307
  1,381
  1,459
  1,541
  1,627
Earnings before tax, $m
  1,284
  1,418
  1,557
  1,703
  1,854
  2,012
  2,176
  2,348
  2,527
  2,714
  3,548
  3,752
  3,966
  4,190
  4,424
  4,669
  4,926
  5,195
  5,477
  5,772
  6,082
  6,407
  6,748
  7,105
  7,480
  7,874
  8,287
  8,720
  9,175
  9,653
Tax expense, $m
  347
  383
  420
  460
  501
  543
  588
  634
  682
  733
  958
  1,013
  1,071
  1,131
  1,194
  1,261
  1,330
  1,403
  1,479
  1,559
  1,642
  1,730
  1,822
  1,918
  2,020
  2,126
  2,237
  2,354
  2,477
  2,606
Net income, $m
  937
  1,035
  1,137
  1,243
  1,353
  1,469
  1,589
  1,714
  1,845
  1,982
  2,590
  2,739
  2,895
  3,058
  3,229
  3,408
  3,596
  3,792
  3,998
  4,214
  4,440
  4,677
  4,926
  5,187
  5,461
  5,748
  6,049
  6,366
  6,698
  7,047

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  11,223
  11,976
  12,759
  13,574
  14,422
  15,304
  16,224
  17,183
  18,182
  19,225
  20,314
  21,451
  22,639
  23,880
  25,178
  26,535
  27,955
  29,442
  30,998
  32,627
  34,334
  36,122
  37,995
  39,959
  42,018
  44,176
  46,439
  48,812
  51,301
  53,912
Adjusted assets (=assets-cash), $m
  11,223
  11,976
  12,759
  13,574
  14,422
  15,304
  16,224
  17,183
  18,182
  19,225
  20,314
  21,451
  22,639
  23,880
  25,178
  26,535
  27,955
  29,442
  30,998
  32,627
  34,334
  36,122
  37,995
  39,959
  42,018
  44,176
  46,439
  48,812
  51,301
  53,912
Revenue / Adjusted assets
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
  0.634
Average production assets, $m
  6,610
  7,054
  7,515
  7,995
  8,494
  9,014
  9,556
  10,120
  10,709
  11,324
  11,965
  12,634
  13,334
  14,065
  14,829
  15,629
  16,465
  17,341
  18,257
  19,217
  20,222
  21,275
  22,379
  23,535
  24,748
  26,019
  27,352
  28,750
  30,216
  31,754
Working capital, $m
  -157
  -167
  -178
  -189
  -201
  -213
  -226
  -240
  -254
  -268
  -283
  -299
  -316
  -333
  -351
  -370
  -390
  -411
  -432
  -455
  -479
  -504
  -530
  -557
  -586
  -616
  -648
  -681
  -716
  -752
Total debt, $m
  4,517
  4,998
  5,499
  6,019
  6,561
  7,125
  7,713
  8,325
  8,964
  9,631
  10,326
  11,053
  11,812
  12,605
  13,434
  14,301
  15,209
  16,159
  17,153
  18,194
  19,285
  20,427
  21,625
  22,880
  24,195
  25,574
  27,020
  28,537
  30,127
  31,796
Total liabilities, $m
  7,171
  7,653
  8,153
  8,674
  9,215
  9,780
  10,367
  10,980
  11,619
  12,285
  12,981
  13,707
  14,466
  15,259
  16,088
  16,956
  17,863
  18,813
  19,807
  20,849
  21,939
  23,082
  24,279
  25,534
  26,849
  28,228
  29,674
  31,191
  32,782
  34,450
Total equity, $m
  4,051
  4,323
  4,606
  4,900
  5,206
  5,525
  5,857
  6,203
  6,564
  6,940
  7,333
  7,744
  8,173
  8,621
  9,089
  9,579
  10,092
  10,628
  11,190
  11,778
  12,394
  13,040
  13,716
  14,425
  15,168
  15,947
  16,764
  17,621
  18,520
  19,462
Total liabilities and equity, $m
  11,222
  11,976
  12,759
  13,574
  14,421
  15,305
  16,224
  17,183
  18,183
  19,225
  20,314
  21,451
  22,639
  23,880
  25,177
  26,535
  27,955
  29,441
  30,997
  32,627
  34,333
  36,122
  37,995
  39,959
  42,017
  44,175
  46,438
  48,812
  51,302
  53,912
Debt-to-equity ratio
  1.110
  1.160
  1.190
  1.230
  1.260
  1.290
  1.320
  1.340
  1.370
  1.390
  1.410
  1.430
  1.450
  1.460
  1.480
  1.490
  1.510
  1.520
  1.530
  1.540
  1.560
  1.570
  1.580
  1.590
  1.600
  1.600
  1.610
  1.620
  1.630
  1.630
Adjusted equity ratio
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361
  0.361

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  937
  1,035
  1,137
  1,243
  1,353
  1,469
  1,589
  1,714
  1,845
  1,982
  2,590
  2,739
  2,895
  3,058
  3,229
  3,408
  3,596
  3,792
  3,998
  4,214
  4,440
  4,677
  4,926
  5,187
  5,461
  5,748
  6,049
  6,366
  6,698
  7,047
Depreciation, amort., depletion, $m
  1,299
  1,343
  1,389
  1,437
  1,487
  1,539
  1,593
  1,650
  1,708
  1,770
  1,196
  1,263
  1,333
  1,406
  1,483
  1,563
  1,647
  1,734
  1,826
  1,922
  2,022
  2,128
  2,238
  2,354
  2,475
  2,602
  2,735
  2,875
  3,022
  3,175
Funds from operations, $m
  2,236
  2,378
  2,526
  2,680
  2,840
  3,008
  3,182
  3,364
  3,553
  3,751
  3,786
  4,002
  4,228
  4,465
  4,712
  4,971
  5,242
  5,526
  5,824
  6,135
  6,462
  6,805
  7,164
  7,540
  7,935
  8,350
  8,785
  9,241
  9,720
  10,222
Change in working capital, $m
  -10
  -11
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -32
  -33
  -35
  -36
Cash from operations, $m
  2,246
  2,388
  2,537
  2,691
  2,852
  3,020
  3,195
  3,377
  3,567
  3,766
  3,801
  4,018
  4,245
  4,482
  4,730
  4,990
  5,262
  5,547
  5,845
  6,158
  6,486
  6,830
  7,190
  7,568
  7,964
  8,380
  8,816
  9,274
  9,754
  10,258
Maintenance CAPEX, $m
  -618
  -661
  -705
  -751
  -799
  -849
  -901
  -956
  -1,012
  -1,071
  -1,132
  -1,196
  -1,263
  -1,333
  -1,406
  -1,483
  -1,563
  -1,647
  -1,734
  -1,826
  -1,922
  -2,022
  -2,128
  -2,238
  -2,354
  -2,475
  -2,602
  -2,735
  -2,875
  -3,022
New CAPEX, $m
  -430
  -444
  -461
  -480
  -499
  -520
  -542
  -565
  -589
  -614
  -641
  -670
  -700
  -731
  -764
  -799
  -836
  -875
  -916
  -960
  -1,005
  -1,053
  -1,104
  -1,157
  -1,212
  -1,271
  -1,333
  -1,398
  -1,466
  -1,538
Cash from investing activities, $m
  -1,048
  -1,105
  -1,166
  -1,231
  -1,298
  -1,369
  -1,443
  -1,521
  -1,601
  -1,685
  -1,773
  -1,866
  -1,963
  -2,064
  -2,170
  -2,282
  -2,399
  -2,522
  -2,650
  -2,786
  -2,927
  -3,075
  -3,232
  -3,395
  -3,566
  -3,746
  -3,935
  -4,133
  -4,341
  -4,560
Free cash flow, $m
  1,198
  1,284
  1,370
  1,460
  1,553
  1,650
  1,752
  1,857
  1,966
  2,081
  2,028
  2,152
  2,282
  2,418
  2,560
  2,708
  2,863
  3,025
  3,195
  3,373
  3,559
  3,754
  3,959
  4,173
  4,398
  4,634
  4,881
  5,141
  5,413
  5,699
Issuance/(repayment) of debt, $m
  461
  481
  500
  521
  542
  564
  588
  613
  639
  666
  696
  726
  759
  793
  829
  867
  907
  950
  994
  1,041
  1,091
  1,143
  1,197
  1,255
  1,315
  1,379
  1,446
  1,517
  1,591
  1,668
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  461
  481
  500
  521
  542
  564
  588
  613
  639
  666
  696
  726
  759
  793
  829
  867
  907
  950
  994
  1,041
  1,091
  1,143
  1,197
  1,255
  1,315
  1,379
  1,446
  1,517
  1,591
  1,668
Total cash flow (excl. dividends), $m
  1,659
  1,765
  1,871
  1,981
  2,095
  2,215
  2,339
  2,469
  2,605
  2,747
  2,723
  2,879
  3,041
  3,211
  3,389
  3,575
  3,770
  3,975
  4,189
  4,414
  4,650
  4,897
  5,156
  5,428
  5,713
  6,013
  6,327
  6,657
  7,004
  7,367
Retained Cash Flow (-), $m
  -261
  -272
  -283
  -294
  -306
  -319
  -332
  -346
  -361
  -377
  -393
  -410
  -429
  -448
  -469
  -490
  -513
  -537
  -562
  -588
  -616
  -645
  -676
  -709
  -743
  -779
  -817
  -857
  -899
  -943
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  47
  50
  53
  57
  60
  64
  68
  72
  76
  81
  85
  90
  95
  100
  106
  112
  118
  124
  131
  138
  145
  152
  160
  169
  177
  186
  196
  206
  217
  228
Cash available for distribution, $m
  1,397
  1,493
  1,588
  1,686
  1,789
  1,896
  2,007
  2,123
  2,244
  2,371
  2,330
  2,468
  2,612
  2,763
  2,920
  3,085
  3,258
  3,438
  3,627
  3,826
  4,033
  4,251
  4,480
  4,719
  4,970
  5,234
  5,510
  5,801
  6,105
  6,425
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  1,323
  1,332
  1,327
  1,312
  1,287
  1,253
  1,210
  1,157
  1,097
  1,031
  892
  824
  752
  678
  603
  530
  459
  391
  328
  271
  220
  175
  137
  105
  78
  57
  41
  28
  19
  13
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies. The Company's brands operate in field instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution markets. The Professional Instrumentation segment offers essential products, software and services used to create actionable intelligence by measuring and monitoring a range of physical parameters in industrial applications, including electrical current, radio frequency signals, distance, pressure and temperature. The Industrial Technologies segment offers critical technical equipment, components, software and services for manufacturing, repair and transportation markets around the world.

FINANCIAL RATIOS  of  Fortive (FTV)

Valuation Ratios
P/E Ratio 31.6
Price to Sales 4.4
Price to Book 10.2
Price to Tangible Book
Price to Cash Flow 24.2
Price to Free Cash Flow 27.3
Growth Rates
Sales Growth Rate 0.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 8.3%
Cap. Spend. - 3 Yr. Gr. Rate 9.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 124.9%
Total Debt to Equity 124.9%
Interest Coverage 0
Management Effectiveness
Return On Assets 11.3%
Ret/ On Assets - 3 Yr. Avg. 11.8%
Return On Total Capital 15.5%
Ret/ On T. Cap. - 3 Yr. Avg. 16.4%
Return On Equity 22.2%
Return On Equity - 3 Yr. Avg. 18.6%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 48.9%
Gross Margin - 3 Yr. Avg. 48.6%
EBITDA Margin 22.1%
EBITDA Margin - 3 Yr. Avg. 22.8%
Operating Margin 20%
Oper. Margin - 3 Yr. Avg. 20.3%
Pre-Tax Margin 19.2%
Pre-Tax Margin - 3 Yr. Avg. 20%
Net Profit Margin 14%
Net Profit Margin - 3 Yr. Avg. 14%
Effective Tax Rate 27.2%
Eff/ Tax Rate - 3 Yr. Avg. 30%
Payout Ratio 349.5%

FTV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FTV stock intrinsic value calculation we used $6656 million for the last fiscal year's total revenue generated by Fortive. The default revenue input number comes from 2017 income statement of Fortive. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FTV stock valuation model: a) initial revenue growth rate of 6.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for FTV is calculated based on our internal credit rating of Fortive, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Fortive.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FTV stock the variable cost ratio is equal to 74.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $334 million in the base year in the intrinsic value calculation for FTV stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Fortive.

Corporate tax rate of 27% is the nominal tax rate for Fortive. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FTV stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FTV are equal to 92.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Fortive operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FTV is equal to -2.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3790 million for Fortive - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 348 million for Fortive is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Fortive at the current share price and the inputted number of shares is $27.7 billion.

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COMPANY NEWS

▶ Everett-based Fortive buys another software company for $2 billion   [Aug-01-18 10:37AM  American City Business Journals]
▶ [$$] Fortive to Acquire Software Provider Accruent for About $2 Billion   [Jul-31-18 08:56AM  The Wall Street Journal]
▶ Fortive Reports Second Quarter 2018 Results   [Jul-26-18 04:17PM  Business Wire]
▶ Fortive offers $775 million to buy construction software company Gordian   [Jul-02-18 02:53PM  American City Business Journals]
▶ Is Fortive Corporations (NYSE:FTV) ROE Of 26.91% Sustainable?   [Jun-27-18 10:51AM  Simply Wall St.]
▶ TRANSACTION IN OWN SECURITIES   [Jun-22-18 10:19AM  GlobeNewswire]
▶ Fortive to Webcast Investor Day   [May-17-18 04:17PM  Business Wire]
▶ Fortive to Present at Electrical Products Group Conference   [May-14-18 04:17PM  Business Wire]
▶ Fortive Reports First Quarter 2018 Results   [Apr-26-18 04:17PM  Business Wire]
▶ Should You Buy Fortive (FTV) Ahead of Earnings?   [Apr-24-18 08:40AM  Zacks]
▶ Fortive Declares Regular Dividend   [Apr-12-18 04:17PM  Business Wire]
▶ This country is using robots to teach struggling school kids   [Mar-28-18 01:52PM  Yahoo Finance Video]
▶ Fortive Declares Regular Dividend   [Jan-23-18 04:17PM  Business Wire]
▶ ETFs with exposure to Fortive Corp. : December 18, 2017   [Dec-18-17 03:34PM  Capital Cube]
▶ ETFs with exposure to Fortive Corp. : December 7, 2017   [Dec-07-17 01:48PM  Capital Cube]
▶ 13 Stocks Investors Should Short if Inflation Remains Low   [Dec-01-17 10:31AM  TheStreet.com]
▶ ETFs with exposure to Fortive Corp. : November 27, 2017   [Nov-27-17 01:44PM  Capital Cube]
▶ ETFs with exposure to Fortive Corp. : November 14, 2017   [Nov-14-17 02:21PM  Capital Cube]
▶ 3 Reasons to Buy This Dividend Aristocrat Stock   [Nov-12-17 11:33AM  Motley Fool]
▶ Fortive Declares Regular Dividend   [Nov-02-17 04:15PM  Business Wire]
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