Fortive Gross profit (Q2, 2018)938.9 M

Fortive Gross profit margin (Q2, 2018), %50.6%

Fortive Net income (Q2, 2018)295 M

Fortive EBIT (Q2, 2018)356 M

Fortive Cash, 29-Jun-20182.4 B

Fortive EV29.4 B

Fortive revenue was $6.66 b in FY, 2017 which is a 6.9% year over year increase from the previous period.

Fortive revenue breakdown by business segment: 52.8% from Industrial Technologies and 47.2% from Professional Instrumentation

Fortive revenue breakdown by geographic segment: 31.6% from All Others, 9.2% from China, 54.6% from United States and 4.6% from Other

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|

## Revenue | 6.3 b | 6.2 b | 6.2 b | 6.7 b |

| (2%) | 1% | 7% | |

## Cost of goods sold | 3.3 b | 3.2 b | 3.2 b | 3.4 b |

## Gross profit | 3 b | 3 b | 3 b | 3.3 b |

| 48% | 49% | 49% | 50% |

## R&D expense | 387.6 m | 377.7 m | 384.8 m | 406 m |

## General and administrative expense | 1.4 b | 1.4 b | 1.4 b | 1.5 b |

## Operating expense total | 1.8 b | 1.7 b | 1.8 b | 1.9 b |

## EBIT | 1.2 b | 1.3 b | 1.2 b | 1.4 b |

| 20% | 21% | 20% | 20% |

## Interest expense | 49 m | 86 m | ||

## Pre tax profit | 1.3 b | 1.3 b | 1.2 b | 1.3 b |

## Income tax expense | 395.8 m | 405.9 m | 324.7 m | 239.7 m |

## Net Income | 883.4 m | 863.8 m | 872.3 m | 1 b |

USD | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|

## Cash | 803.2 m | 962.1 m | |

## Accounts Receivable | 979.3 m | 945.4 m | 1.1 b |

## Prepaid Expenses | 91.9 m | 195.5 m | 250.5 m |

## Inventories | 522.9 m | 544.6 m | 580.6 m |

## Current Assets | 1.6 b | 2.5 b | 2.9 b |

## PP&E | 514.8 m | 547.6 m | 712.5 m |

## Goodwill | 3.9 b | 4 b | 5.1 b |

## Total Assets | 7.2 b | 8.2 b | 10.5 b |

## Accounts Payable | 657.1 m | 666.2 m | 727.5 m |

## Current Liabilities | 1.3 b | 1.5 b | 1.6 b |

## Long-term debt | 3.4 b | 4.1 b | |

## Total Debt | 3.4 b | 4.1 b | |

## Common Stock | 3.5 m | 3.5 m | |

## Additional Paid-in Capital | 2.4 b | 2.4 b | |

## Retained Earnings | 403 m | 1.4 b | |

## Total Equity | 5.2 b | 3 b | 3.8 b |

## Debt to Equity Ratio | 1.1 x | 1.1 x | |

## Debt to Assets Ratio | 0.4 x | 0.4 x | |

## Financial Leverage | 1.4 x | 2.8 x | 2.8 x |

USD | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|

## Cash | 487.2 m | 724.8 m | 817.6 m | 968.4 m | 910.9 m | 1 b | 2.4 b |

## Accounts Receivable | 948.2 m | 972 m | 944.1 m | 985 m | 1.1 b | 1.2 b | 1.2 b |

## Prepaid Expenses | 169.1 m | 104.3 m | 184.1 m | 187.7 m | 133.1 m | 276 m | 305.1 m |

## Inventories | 557.5 m | 558.1 m | 571.6 m | 560.6 m | 576.2 m | 615.9 m | 642.3 m |

## Current Assets | 2.2 b | 2.4 b | 2.5 b | 2.7 b | 2.7 b | 3.1 b | 4.5 b |

## PP&E | 534 m | 538.3 m | 552.9 m | 562.8 m | 673.2 m | 709.8 m | 690.4 m |

## Goodwill | 4 b | 4 b | 4 b | 4 b | 4.6 b | 5.1 b | 5.1 b |

## Total Assets | 7.8 b | 8.1 b | 8.2 b | 8.5 b | 9.3 b | 10.7 b | 12 b |

## Accounts Payable | 644.2 m | 619.4 m | 623.3 m | 648.6 m | 646.1 m | 711.7 m | 763.5 m |

## Short-term debt | 799.3 m | ||||||

## Current Liabilities | 1.4 b | 1.4 b | 1.4 b | 1.4 b | 1.4 b | 1.5 b | 2.3 b |

## Long-term debt | 3.4 b | 3.5 b | 3.3 b | 3.2 b | 3.7 b | 1.1 b | 2.9 b |

## Total Debt | 3.4 b | 3.5 b | 3.3 b | 3.2 b | 3.7 b | 1.1 b | 3.7 b |

## Common Stock | 3.5 m | 3.5 m | 3.5 m | 3.5 m | 3.5 m | 3.5 m | 3.5 m |

## Additional Paid-in Capital | 2.4 b | 2.4 b | 2.4 b | 2.4 b | 2.5 b | 3.8 b | |

## Retained Earnings | 202.7 m | 578.5 m | 794.2 m | 1 b | 1.6 b | 1.9 b | |

## Total Equity | 2.4 b | 2.6 b | 2.9 b | 3.2 b | 3.5 b | 4.1 b | 5.6 b |

## Debt to Equity Ratio | 1.4 x | 1.4 x | 1.1 x | 1 x | 1.1 x | 0.3 x | 0.7 x |

## Debt to Assets Ratio | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.4 x | 0.1 x | 0.3 x |

## Financial Leverage | 3.3 x | 3.2 x | 2.8 x | 2.7 x | 2.7 x | 2.6 x | 2.1 x |

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|

## Net Income | 883.4 m | 863.8 m | 872.3 m | 1 b |

## Depreciation and Amortization | 178 m | 176.9 m | 176.4 m | 174.1 m |

## Accounts Receivable | (74 m) | (51.8 m) | 24.8 m | (65.4 m) |

## Inventories | (22.2 m) | (27.7 m) | (28.7 m) | 14.3 m |

## Accounts Payable | 28.8 m | 53.6 m | 17.2 m | 24.9 m |

## Cash From Operating Activities | 946.7 m | 1 b | 1.1 b | 1.2 b |

## Purchases of PP&E | (102.6 m) | (120.1 m) | (129.6 m) | (136.1 m) |

## Cash From Investing Activities | (291.1 m) | (174.1 m) | (310.8 m) | (1.7 b) |

## Short-term Borrowings | 375.2 m | 557.6 m | ||

## Dividends Paid | (3 b) | (97.2 m) | ||

## Cash From Financing Activities | (655.6 m) | (834.9 m) | 3.8 m | 599.7 m |

## Net Change in Cash | 803.2 m | 158.9 m |

USD | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 |
---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 431.1 m | 627.7 m | 182 m | 420.9 m | 647.8 m | 199.7 m | 439.8 m | 707.6 m | 261.2 m | 556.2 m |

## Depreciation and Amortization | 88.6 m | 132.2 m | 43.9 m | 88.8 m | 133.9 m | 36.7 m | 73.8 m | 113.7 m | 60 m | 118.2 m |

## Accounts Receivable | (13.2 m) | (36.2 m) | 61 m | 29.9 m | 9.9 m | 10 m | (20.7 m) | (30.8 m) | (20.1 m) | (54 m) |

## Inventories | (41.9 m) | (52.8 m) | (24.6 m) | (36.3 m) | (34.9 m) | (24.2 m) | (7.9 m) | 8.2 m | (31.9 m) | (68.4 m) |

## Accounts Payable | 13.4 m | 500 k | (39 m) | (12 m) | (37.4 m) | (47.5 m) | (28.8 m) | (51.2 m) | (22.2 m) | 41 m |

## Cash From Operating Activities | 384.8 m | 621.1 m | 177.2 m | 487.8 m | 819.4 m | 148.3 m | 394 m | 713 m | 171 m | 512.8 m |

## Purchases of PP&E | (52.4 m) | (87 m) | (28.4 m) | (61.4 m) | (90 m) | (26.8 m) | (55.6 m) | (87.7 m) | (31.4 m) | (58.7 m) |

## Cash From Investing Activities | (49.7 m) | (83.9 m) | (39.2 m) | (69.8 m) | (276.3 m) | (27.4 m) | (58.6 m) | (888.3 m) | (39 m) | (64.1 m) |

## Short-term Borrowings | 525.6 m | (95.5 m) | (158.8 m) | 176.8 m | (74.3 m) | (326 m) | ||||

## Dividends Paid | (3 b) | (3 b) | (24.2 m) | (48.6 m) | (72.8 m) | (24.3 m) | (48.7 m) | |||

## Cash From Financing Activities | (335.1 m) | (537.2 m) | (138 m) | 69.2 m | 180.8 m | (119.4 m) | (200.1 m) | 240.8 m | (94.2 m) | 978.8 m |

## Net Change in Cash | 487.2 m | 724.8 m | 14.4 m | 165.2 m | 107.7 m | 53.6 m | 1.4 b |

USD | Y, 2018 |
---|---|

## EV/EBIT | 82.6 x |

## EV/CFO | 57.4 x |

## Debt/Equity | 0.7 x |

## Debt/Assets | 0.3 x |

## Financial Leverage | 2.1 x |

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Fortive's Backlog was reported to be $1.3b in FY, 2017.

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