$FTV
Fortive Corp

2023 Q4 Form 10-Q Financial Statement

#000165916623000232 Filed on October 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $1.584B $1.495B
YoY Change 3.52% 2.13%
Cost Of Revenue $636.2M $601.5M
YoY Change -0.19% -4.49%
Gross Profit $947.5M $893.0M
YoY Change 6.16% 7.14%
Gross Profit Margin 59.83% 59.75%
Selling, General & Admin $537.4M $503.5M
YoY Change 7.52% 3.84%
% of Gross Profit 56.72% 56.38%
Research & Development $99.20M $98.40M
YoY Change -1.98% -1.7%
% of Gross Profit 10.47% 11.02%
Depreciation & Amortization $115.7M $114.8M
YoY Change -0.77% -1.2%
% of Gross Profit 12.21% 12.86%
Operating Expenses $636.6M $601.9M
YoY Change 5.92% 2.89%
Operating Profit $310.9M $291.1M
YoY Change 6.66% 25.31%
Interest Expense -$28.50M $29.80M
YoY Change -11.21% 41.9%
% of Operating Profit -9.17% 10.24%
Other Income/Expense, Net -$4.900M -$4.200M
YoY Change 172.22% 35.48%
Pretax Income $277.5M $257.1M
YoY Change 7.98% 23.49%
Income Tax $12.30M $39.10M
% Of Pretax Income 4.43% 15.21%
Net Earnings $265.2M $218.0M
YoY Change 16.73% 26.01%
Net Earnings / Revenue 16.75% 14.59%
Basic Earnings Per Share $0.62
Diluted Earnings Per Share $0.75 $0.61
COMMON SHARES
Basic Shares Outstanding 351.4M shares 352.0M shares
Diluted Shares Outstanding 356.1M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.889B $714.0M
YoY Change 166.33% 4.55%
Cash & Equivalents $1.889B $714.1M
Short-Term Investments
Other Short-Term Assets $285.1M $169.0M
YoY Change 4.59% -38.28%
Inventory $536.9M $552.5M
Prepaid Expenses
Receivables $960.8M $925.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.672B $2.469B
YoY Change 48.23% 0.98%
LONG-TERM ASSETS
Property, Plant & Equipment $439.8M $430.8M
YoY Change 4.24% 5.69%
Goodwill $9.122B $9.059B
YoY Change 0.81% 0.01%
Intangibles $3.160B $3.226B
YoY Change -9.39% -12.29%
Long-Term Investments
YoY Change
Other Assets $518.9M $479.3M
YoY Change 13.84% -0.42%
Total Long-Term Assets $13.24B $13.20B
YoY Change -1.29% -3.16%
TOTAL ASSETS
Total Short-Term Assets $3.672B $2.469B
Total Long-Term Assets $13.24B $13.20B
Total Assets $16.91B $15.66B
YoY Change 6.43% -2.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $608.6M $575.0M
YoY Change -2.31% -1.15%
Accrued Expenses $1.183B $1.095B
YoY Change 7.09% 6.37%
Deferred Revenue $544.6M $513.5M
YoY Change 6.87% 7.02%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $549.3M $749.9M
YoY Change -45.07% -25.0%
Total Short-Term Liabilities $2.341B $2.420B
YoY Change -14.17% -7.33%
LONG-TERM LIABILITIES
Long-Term Debt $3.097B $1.982B
YoY Change 37.54% -26.1%
Other Long-Term Liabilities $1.149B $1.179B
YoY Change -6.07% -11.24%
Total Long-Term Liabilities $4.246B $3.161B
YoY Change 22.19% -21.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.341B $2.420B
Total Long-Term Liabilities $4.246B $3.161B
Total Liabilities $6.593B $5.581B
YoY Change 6.3% -15.72%
SHAREHOLDERS EQUITY
Retained Earnings $7.506B $7.269B
YoY Change 11.33% 14.03%
Common Stock $3.600M $3.600M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $715.8M
YoY Change 61.62%
Treasury Stock Shares
Shareholders Equity $10.32B $10.08B
YoY Change
Total Liabilities & Shareholders Equity $16.91B $15.66B
YoY Change 6.43% -2.53%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $265.2M $218.0M
YoY Change 16.73% 26.01%
Depreciation, Depletion And Amortization $115.7M $114.8M
YoY Change -0.77% -1.2%
Cash From Operating Activities $446.8M $411.4M
YoY Change -3.75% 39.74%
INVESTING ACTIVITIES
Capital Expenditures $34.10M $27.90M
YoY Change -5.54% -252.46%
Acquisitions
YoY Change
Other Investing Activities -$37.10M -$55.40M
YoY Change -2052.63% 2116.0%
Cash From Investing Activities -$71.20M -$83.30M
YoY Change 108.19% 300.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 798.6M -324.9M
YoY Change -283.76% 29.8%
NET CHANGE
Cash From Operating Activities 446.8M 411.4M
Cash From Investing Activities -71.20M -83.30M
Cash From Financing Activities 798.6M -324.9M
Net Change In Cash 1.174B 3.200M
YoY Change -25626.09% -86.27%
FREE CASH FLOW
Cash From Operating Activities $446.8M $411.4M
Capital Expenditures $34.10M $27.90M
Free Cash Flow $412.7M $383.5M
YoY Change -3.6% 22.64%

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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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