FTV Q2 2018 Earnings Report — Fortive Corporation Revenue & Financial Results | Market Cap Arena

Fortive CorporationFTV

Q2 2018 Earnings

Reported July 26, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2018	Q1 2018	Q2 2017	QoQ Change	YoY Change
Revenue	$1.6B	$1.5B	$1.6B	7.3%	-1.7%
Op. Income	$324M	$278M	$348M	16.7%	-6.9%
Gross Margin	51.9%	51.4%	49.4%	0.5pp	2.4pp
Net Margin	18.4%	17.5%	14.7%	0.9pp	3.7pp
EPS (Diluted)	$0.83	$0.74	$0.68	12.2%	22.1%
Free Cash Flow	$315M	$140M	$217M	125.3%	45.0%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$771M
GROSS PROFIT	$831M
R&D Expenses	$102M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$405M
Other Expenses	$0
Operating Expenses	$506M
Cost & Expenses	$1.3B
OPERATING INCOME	$324M
Interest Income	$0
Interest Expense	$24M
Other Income/Expenses	-$25M
INCOME BEFORE TAX	$299M
Income Tax Expense	$49M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$45M
Other Adjustments	$0
NET INCOME	$295M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$295M
D&A	$54M
EBIT	$323M
EBITDA	$378M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$771M
GROSS PROFIT	$831M
R&D Expenses	$102M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$405M
Other Expenses	$0
Operating Expenses	$506M
Cost & Expenses	$1.3B
OPERATING INCOME	$324M
Interest Income	$0
Interest Expense	$24M
Other Income/Expenses	-$25M
INCOME BEFORE TAX	$299M
Income Tax Expense	$49M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$45M
Other Adjustments	$0
NET INCOME	$295M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$295M
D&A	$54M
EBIT	$323M
EBITDA	$378M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$295M
Depreciation & Amortization	$58M
Stock-Based Compensation	$15M
Deferred Income Tax	$0
Other Non-Cash Items	$50M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$342M
Capital Expenditure	-$27M
Acquisitions (Net)	-$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$25M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$24M
Other Financing Activities	$1.1B
NET CASH FROM FINANCING	$1.1B
FREE CASH FLOW	$315M
Net Change in Cash	$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.4B
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$642M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.5B
PP&E (Net)	$690M
Goodwill	$5.1B
Intangible Assets	$1.2B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$480M
TOTAL NON-CURRENT ASSETS	$7.5B
TOTAL ASSETS	$12.0B
Account Payables	$764M
Short-Term Debt	$799M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.3B
Long-Term Debt	$2.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$4.0B
TOTAL LIABILITIES	$6.3B
Common Stock	$4M
Additional Paid-In Capital	$3.8B
Retained Earnings	$1.9B
Treasury Stock	$0
Accum. Other Comp. Income	-$70M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.6B
Minority Interest	$17M
TOTAL EQUITY	$5.6B
TOTAL LIABILITIES & EQUITY	$12.0B
Total Debt	$3.7B
Net Debt	$1.4B