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Fortive (FTV) investor relations material
Fortive Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 performance exceeded expectations, with core growth just over 3%, Adjusted EBITDA growth of 8%, and Adjusted EPS growth of about 13%, resulting in full-year Adjusted EPS of $2.71, surpassing guidance.
$1.3 billion in share repurchases were executed in the second half of 2025, reducing diluted shares outstanding by about 8%.
The company is executing its Accelerated strategy, focusing on innovation, commercial acceleration, and recurring revenue growth.
FY 2026 Adjusted EPS guidance is set at $2.90 to $3.00, implying 9% year-over-year growth at the midpoint.
Completed the separation of the Precision Technologies segment (Ralliant) in June 2025, with results reflecting this as a discontinued operation.
Financial highlights
Q4 2025 revenue was $1,123 million, up 4.6% year-over-year; core growth was 3.3%.
Full year 2025 revenue totaled $4.16 billion, up 1.9% year-over-year; core revenue up 1.7%.
Q4 Adjusted EBITDA reached $358 million (up 7.8% YoY), with margin expanding to 31.9%.
Full year 2025 Adjusted EBITDA was $1,233 million, up 6.1% year-over-year, with a 29.6% margin.
Free cash flow for 2025 was $931 million, with conversion on adjusted net income over 100%.
Outlook and guidance
FY 2026 Adjusted EPS guidance is $2.90 to $3.00 per share, assuming similar market dynamics as Q4.
Reported revenue for 2026 is expected to be nearly $4.3 billion, with core revenue growth of 2%-3%.
FX is expected to provide a 300 bps tailwind in Q1, easing through the year.
Mid-teens adjusted effective tax rate planned for the year, with Q1-Q3 in high teens and Q4 in high single to low double digits.
Net interest expense for 2026 is modeled at just over $120 million; diluted share count is about 315 million.
- TimeTickerHeadlineOpen
- 6 FebCPT
2025 results beat guidance; Sun Belt focus, asset sales, and share buybacks drive 2026 strategy. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and strategic spin-offs for future growth. - 6 FebCRI
H1 2025 saw a return to profit, record revenues, and strong cash from major space projects. - 6 FebSCW
Q2 2025 revenue up 120% y/y, driven by record Asian contract and backlog growth. - 6 FebSCW
Revenue up 89% y/y, record backlog, and new strategy for European optical payload leadership. - 6 FebSCW
Q2 2024 revenue up 115% y/y, backlog nearly doubled, driven by major space contracts. - 6 FebSCW
Space segment drives 29% revenue growth, strong backlog and contracts support 2025 outlook. - 6 FebSCW
73% revenue growth, record backlog, and major space contracts drive expansion and investment. - 6 FebPENG
All proposals passed, with no questions raised and results to be filed on Form 8-K. - 6 FebSCW
Q1 2025 revenue surged 97% year-over-year, with strong backlog and new contracts secured.
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