On this page of StockholderLetter.com we present the 4/22/2024 shareholder letter from Fortive Corp — ticker symbol FTV. Reading current and past FTV letters to shareholders can bring important insights into the investment thesis.
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4/22/2024 Letter Continued (Full PDF)
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4/24/2023 FTV Stockholder Letter
• 4/21/2025 FTV Stockholder Letter
• More "Industrial Machinery & Equipment" Category Stockholder Letters
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FTV Benford's Law Stock Score = 80
4/22/2024 Letter Continued (Full PDF)
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4/24/2023 FTV Stockholder Letter•
4/21/2025 FTV Stockholder Letter•
More "Industrial Machinery & Equipment" Category Stockholder Letters•
FTV Benford's Law Stock Score = 80FTV 4/22/2024 Shareholder/Stockholder Letter Transcript:
2023 Annual Report Essential technology for the people who accelerate progress. Our talented team member, Remco van den Heuvel, has skillfully framed this scene, freezing the instant when the dandelion s seeds take flight. As each seed drifts away, it carries the promise of renewal and growth. Much like Fortive, which has sown its strategy of innovation and resilience, this award-winning photo captures the essence of transformation. Rooted in a robust foundation, we have blossomed into a premier company. Letter to Shareholders Financial Highlights Intelligent Operating Solutions Precision Technologies 26% Adjusted Operating Profit Margin Re FOR FISCAL YEAR ENDED DECEMBER 31, 2023 * st o $0.29 Cash Dividend Per Share 18% 10% 4% 24% $1.2B North $6.1B 6% 7% e op r Eu 13% FY 2023 TOTAL SALES 23% America 5 7% Chi n a 1 2 % 5% 5% Our Values At a Glance Financial Highlights d orl W f Advanced Health Solutions Adjusted Net Earnings $1.2B Free Cash Flow 7% 9% $3.43 W e ste rn Medical Retail & Consumer Industrial & Manufacturing Aerospace & Defense Government Oil & Gas Communication, Electronics & Semiconductor Distributors Other End Markets Utilities & Power * This report represents certain financial metrics using non-GAAP measures. Reconciliations for those financial metrics can be found at the end of the document. Adjusted Net Earnings Per Share $73.63 Share Price as of 12/29/2023 Letter to Shareholders Financial Highlights Intelligent Operating Solutions Precision Technologies Advanced Health Solutions Our Values Financial Performance Over Three Years* Revenue Intelligent Operating Solutions $6,065 $2,169 $2,466 $2,612 $1,849 $2,038 $2,133 $1,236 $1,321 $1,320 Advanced Healthcare Solutions $5,826 Precision Technologies $5,255 FORTIVE 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 Adjusted Operating Profit Margin Intelligent Operating Solutions 25.9% 28.0% 29.3% 32.4% 23.1% 24.8% 26.5% 22.9% 22.8% 22.9% Advanced Healthcare Solutions 24.3% Precision Technologies 23.1% FORTIVE 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 Free Cash Flow Margin $3.15 $3.43 $943 $1,207 $1,246 17.9% 20.7% 20.5% Free Cash Flow $2.75 Adjusted Net Earnings Per Share 2021 2022 2023 2021 2022 2023 2021 2022 2023 About Fortive Fortive Corporation delivers essential technology and connected workflow solutions across a range of attractive end markets. The company s businesses and strategic segments Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions are built on leading brand names, innovative technologies, and established market positions. Fortive is based in Everett, Washington, with research and development, manufacturing, sales, distribution, service, and administrative operations in more than 50 countries. Fortive s global team of more than 18,000 team members is united by a powerful shared purpose, essential technology for the people who accelerate progress. * The financial results are presented on a continuing operations basis. All dollar figures are shown in millions except per share values.