Fortive Corp（FTV）の決算・業績分析
Fortive Corpの2025年有価証券報告書をAI分析。売上高$4.2B(-33.3%)。営業利益$720M。Health Care。
目次
Fortive Corpの2025年度 業績サマリー
Fortive Corp（証券コード: FTV）の2025年度決算・業績分析。売上高は$4.2B（前年比-33.3%）。営業利益は$720M（前年比-40.3%）。純利益は$579M（前年比-30.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Fortive Corpの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Fortive Corp achieved a 10.9% YoY revenue increase to $5.8B (XBRL), with net income rising 24.1% to $755M (XBRL).
- Operating income surged 21.5% YoY to $987M (XBRL), while free cash flow reached $1.2B (XBRL), reflecting strong operational efficiency.
- The company maintains a healthy current ratio of 2.05x (XBRL) and equity ratio of 61.0% (XBRL), indicating robust liquidity and financial stability.
Fortive Corpの売上高変化の要因
- •Revenue grew 10.9% YoY to $5.8B (XBRL), with a 5-year CAGR of 0.6% (XBRL). Operating income increased 21.5% YoY to $987M (XBRL), but its 5-year CAGR is negative at -2.3% (XBRL). Net income rose 24.1% YoY to $755M (XBRL), though its 5-year CAGR is -21.6% (XBRL). The acquisition of EA Elektro-Automatik Holding GmbH in FY2024 contributed to revenue and operating income growth (10-K). However, FY2025 revenue is projected to decline to $3.9B (XBRL), indicating potential near-term challenges.
Fortive Corpの営業利益変化の要因
- •Fortive achieved a gross margin of 57.7% (XBRL) and operating margin of 16.9% (XBRL), with net margin at 13.0% (XBRL). Operating income grew 21.5% YoY (XBRL), but its 5-year CAGR is -2.3% (XBRL). EBITDA reached $1.5B (24.9% of revenue) (XBRL), reflecting strong profitability. Net debt to EBITDA is 1.2x (XBRL), suggesting manageable leverage.
Fortive Corpの事業リスクと対応
Global economic downturns could reduce demand, disrupt supply chains, and increase counterparty insolvency risks (10-K).
Supply chain disruptions from limited suppliers may cause production delays and cost increases (10-K).
Currency translation impacts and counterparty insolvency risks could harm financial stability (10-K).
Inability to adjust manufacturing capacity or supply chain management may reduce profitability (10-K).
Impairment of goodwill and long-lived assets risks due to economic downturns or market shifts (10-K).
Geopolitical conflicts, trade policy changes, sanctions, and regulatory shifts pose operational and financial risks (10-K).
Increased price competition and reliance on limited suppliers threaten competitive positioning (10-K).
Fortive Corpの事業内容
Fortive Corp operates as a provider of essential technologies for connected workflow solutions across diverse end-markets, generating revenue through the design, development, manufacturing, and servicing of professional and engineered products, software, and services (10-K). The company operates in three segments: (1) Intelligent Operating Solutions (advanced instrumentation, software, and services for mission-critical workflows), (2) Precision Technologies (precision instruments and engineered products for innovation), and (3) Advanced Healthcare Solutions (healthcare technologies and services) (10-K). Fortive's competitive advantages include its Fortive Business System (FBS), which emphasizes continuous improvement, inclusion, and the use of AI/ML technologies, along with a disciplined operating cadence and acquisition strategy (10-K). The company employs over 18,000 people across more than 50 countries (10-K).
Fortive CorpのAI業績分析レポート（2024年度）
Fortive Corp (FTV) Annual Report Analysis FY2024
Highlights
Business Overview
Fortive Corp provides essential technologies for connected workflow solutions across various end-markets, generating revenue through the design, development, manufacturing, and servicing of professional and engineered products, software, and services (10-K). The company operates in three segments: (1) Intelligent Operating Solutions, (2) Precision Technologies, and (3) Advanced Healthcare Solutions (10-K). Fortive's competitive advantages include its Fortive Business System (FBS), which emphasizes continuous improvement, inclusion, and the use of AI/ML technologies (10-K). The company employs over 18,000 people across more than 50 countries (10-K).
Revenue Analysis
Revenue grew 10.9% YoY to $5.8B (XBRL), with a 5-year CAGR of 0.6% (XBRL). Operating income increased 21.5% YoY to $987M (XBRL), but its 5-year CAGR is -2.3% (XBRL). Net income rose 24.1% YoY to $755M (XBRL), though its 5-year CAGR is -21.6% (XBRL). The acquisition of EA Elektro-Automatik Holding GmbH in FY2024 contributed to revenue and operating income growth (10-K). However, FY2025 revenue is projected to decline to $3.9B (XBRL), indicating potential near-term challenges.
Profitability Analysis
Fortive achieved a gross margin of 57.7% (XBRL) and operating margin of 16.9% (XBRL), with net margin at 13.0% (XBRL). Operating income grew 21.5% YoY (XBRL), but its 5-year CAGR is -2.3% (XBRL). EBITDA reached $1.5B (24.9% of revenue) (XBRL), reflecting strong profitability. Net debt to EBITDA is 1.2x (XBRL), suggesting manageable leverage.
Balance Sheet Analysis
Fortive maintains a strong equity ratio of 61.0% (XBRL) and current ratio of 2.05x (XBRL), indicating solid liquidity. Total assets increased from $12.9B in FY2020 to $17.0B in FY2025 (XBRL), though growth has slowed. Long-term debt stands at $3.6B (XBRL), with net debt at $1.8B (XBRL). Return on equity (ROE) is 7.3% (XBRL), and return on assets (ROA) is 4.5% (XBRL). Asset turnover is 0.34x (XBRL), suggesting room for improvement in asset utilization.
Cash Flow Analysis
Operating cash flow totaled $1.3B (XBRL), with free cash flow (FCF) of $1.2B (XBRL) after $96M in capital expenditures (XBRL). Investing cash flow was -$102M (XBRL), while financing cash flow was -$1.3B (XBRL), driven by $443M in share repurchases (XBRL) and $100M in dividends (XBRL). The payout ratio is 13.2% (XBRL), with total shareholder returns of $542M (XBRL).
Working Capital Analysis
Receivables days are 60 (XBRL), and inventory days are 80 (XBRL). Payables days data is not available (XBRL), so cash conversion cycle (CCC) cannot be calculated. Working capital efficiency remains a focus area for improvement.
Risks
Outlook
N/A. The 10-K does not provide specific management guidance or forward-looking trends (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 3.8B | 4.6B | 4.6B | 5.3B | 5.8B | 3.9B |
| Operating Income | 645M | 444M | 539M | 813M | 987M | 574M |
| Net Income | 2.9B | 739M | 1.6B | 608M | 755M | 866M |
| Total Assets | 12.9B | 17.4B | 16.1B | 16.5B | 16.9B | 17.0B |
| Total Equity | 7.4B | 9.0B | 9.5B | 9.7B | 10.3B | 10.2B |
| Operating Cash Flow | 1.3B | 1.3B | 1.4B | 961M | 1.3B | 1.4B |
Health Careの企業一覧
Fortive Corpと同じ「Health Care」セクターの企業