Short answer
Fortive (FTV) filed its fiscal 2024 10-K annual report with the SEC on Feb 25, 2025. It reported revenue of $6.2B (+2.7% year over year) and net income of $833M.
- Top risk flagged: Regulatory risk: foreign remittance taxes on cumulative foreign earnings, exposure uncertain due to local laws and potential changes in foreign tax law
FY2024 key financial metrics · XBRL
- Revenue
- $6.2B
- +2.7% YoY
- Net income
- $833M
- −3.8% YoY
- Operating margin
- 19.4%
- +0.7 pp YoY
- Gross margin
- 59.9%
- +0.6 pp YoY
- EPS (diluted)
- $2.36
- −2.9% YoY
- ROE
- 8.2%
- −0.2 pp YoY
- Operating cash flow
- $1.5B
- +12.8% YoY
Source: XBRL data from the Fortive (FTV) FY2024 10-K on SEC EDGAR. USD.
Fortive FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: provider of essential technologies for connected workflow solutions via three segments; Intelligent Operating Solutions, Precision Technologies, Advanced Healthcare Solutions
- New initiative: announced planned spin-off of Precision Technologies segment into separate publicly-traded company “Ralliant” targeted by Q3 2025
- Strategic shift: separation intended to create two focused technology companies; Fortive retaining Intelligent Operating and Healthcare, Ralliant focused on Precision instruments
- Workforce: global employee base over 18,000 across more than 50 countries supporting R&D, manufacturing, sales, and services
- Noteworthy fact: execution of Fortive Business System enhanced with AI/ML integration to drive faster growth, productivity, and disciplined acquisition strategy
Management Discussion & Analysis
- Revenue $6.23B, up 2.7% YoY including 1.3% core growth; acquisitions added 2.0%, FX translation reduced revenue 0.6%
- Operating margin 19.4% vs 18.7%, up 70 bps driven by pricing, volume growth in IOS/AHS, productivity, partially offset by PT volume decline and acquisition costs
- Best performing segment IOS: sales $2.71B (+3.9%), operating margin 26.0% vs 24.1% (+190 bps); worst performing segment PT: sales $2.23B (+0.3%), operating margin 22.4% vs 24.5% (-210 bps)
- Cash: incurred $25.6M divestiture loss from Invetech; interest expense $152.8M (up $29.3M); raised $1.72B for EA acquisition; restructuring charges $19.7M in 2024; no buybacks/dividends detailed
- 2025 outlook: sales growth ~0-2% with 1.5-3.5% organic growth; FX volatility and geopolitical risks ongoing; Separation of PT segment (Ralliant) targeted Q3 2025 completion
Risk Factors
- Regulatory risk: foreign remittance taxes on cumulative foreign earnings, exposure uncertain due to local laws and potential changes in foreign tax law
- Macroeconomic risk: 88% of $813 million cash held outside U.S., subject to foreign currency and geopolitical risks impacting liquidity
- Operational risk: $1.72 billion cash used for acquisitions in 2024, increasing integration complexity and associated execution risks
- Competitive risk: goodwill and intangible assets of $1.86 billion from EA acquisition sensitive to future economic conditions affecting impairment risk
- Financial risk: $3.72 billion long-term debt principal due with $376.3 million due within one year, creating near-term refinancing pressure
Generated from the filing text; verify against the original. How to read a 10-K
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