📈 Price History

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Shareholding

About

Fortive Corporation designs, develops, manufactures, and markets products, software, and services in the United States, China, and internationally.

Key Ratios Snapshot

📊 Sector Averages

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding FTV

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Manager	Shares	Value	% of Fund	Period
Andreas Halvorsen Viking Global Investors	22.48M	$1.2B	3.48%	Mar 2026
Jim Simons Renaissance Technologies LLC	1.13M	$62.4M	0.10%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

reinforcing their medium-term framework remains 'firmly intact'.

Q3 2025

Mixed

' 'raising full year adjusted EPS guidance,' and 'we couldn't be more excited for the road ahead,' with specific numbers on growth, margins, and buyback amounts, indicating a confident and data-backed tone.

Q4 2025

Mixed

'ahead of expectations', 'growth acceleration', and 'strong conviction' to describe Q4 results. They repeatedly highlighted double-digit EPS growth and margin expansion, and expressed optimism about the future with 'optimism, enthusiasm, and an unrelenting focus on execution.'

Q1 2026 latest

Mixed

'solid performance', 'confidence continues to build', and 'trending toward the upper half' of guidance. They provided specific numbers and reiterated full-year outlook, indicating conviction without exaggeration.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. Fortive delivered another quarter of solid organic growth, double-digit EPS expansion, and active capital returns, reinforcing confidence in the Fortive Accelerated strategy. The early traction in data center (Fluke's CertiFiber Max) and recurring revenue streams (FAL, ISC hardware-as-a-service) indicate improving growth durability. However, tariff headwinds and hospital CapEx caution remain near-term drags. Key items to watch next quarter: sustained order momentum (especially at Fluke and ASP), margin expansion trajectory in H2, and any M&A deployment. The upbeat tone and maintained guidance with an upward bias suggest management sees clear line of sight to delivering on the 2026-2027 financial framework.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Q1 core revenue growth 5.3%, adjusted EPS up 25%, $500M share repurchases.

Revenue & Profitability

Q1 2026 total revenue was nearly $1.1 billion, up ~8% reported and 5.3% core (with ~150bps tailwind from extra selling days). Adjusted EBITDA was $314 million, up 13% year-over-year. Adjusted EPS was $0.70, up over 25% year-over-year, marking the third consecutive quarter of double-digit growth. Free cash flow was $194 million, with trailing twelve-month conversion above 100%. The company completed ~$500 million of share repurchases during the quarter.

Outlook

Management expressed confidence in the 2026-2027 financial framework and sees results trending towards the upper half of the full-year adjusted EPS guidance range of $2.90-$3.00. Core growth for 2026 is expected in the 2%-3% range, trending toward the upper end. The company is encouraged by stabilizing conditions in Europe and sequential improvement in hospital capital spending, though caution persists in some areas. Tailwinds include data center investment cycles and AI-driven demand.

Growth Drivers

Key growth drivers include the data center build-out and ongoing maintenance, defense, and distributed energy verticals at Fluke. Made-in-region strategies in India and China are gaining traction at ASP. AI-enhanced products (e.g., Provation Mira, ServiceChannel AI) are driving faster recurring revenue growth. Hardware-as-a-service (gas detection) is gaining share. Facility and asset lifecycle solutions (ServiceChannel, Gordian) are growing ahead of IOS average, with strong software ARR metrics.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Q1 adjusted EBITDA margin expanded 140 basis points year-over-year to just over 29%, driven by operating leverage, structural cost savings, and favorable FX, partially offset by growth investments. Adjusted gross margin was just over 63%, down ~100bps due to tariffs. Management expects 50-100bps of EBITDA margin expansion per year, with slightly less expansion in the back half of 2026 due to tougher comps and fewer selling days.

Key Risks

Management flagged tariff impacts as a headwind to gross margins, though offset by countermeasures. Hospital capital spending remains cautious in the U.S., pressuring AHS capital equipment demand. Foreign exchange and the impact of fewer selling days in Q4 (an estimated $15-20 million revenue headwind) are also risks. Operations in the Middle East face geopolitical risk but represent low single-digit revenue exposure. Analyst questions on pre-buying were addressed with no material impact noted.

Generated by AI · Q1 2026 results · Not investment advice

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