Fortive (FTV) FY2021 results: revenue $5.3 billion, up 13.4% on the year
Fortive Corp. (FTV) reported revenue of $5.3 billion for fiscal 2021, the year ended 31 December 2021, up 13.4% on the year before. Net income was $574 million, down 62.8%, and diluted earnings per share $1.63. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2022.
Revenue
$5.3 billion
+13.4% on the year
FY2014FY2021
Operating margin
15.5%
11.6% a year earlier
FY2014FY2021
Net income
$574 million
-62.8% on the year
FY2014FY2021
Diluted EPS
$1.63
-63.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
961
1,437
1,271
-33.1%
Capital expenditure
50.0
75.7
74.5
-33.9%
Free cash flow
911
1,361
1,197
-33.1%
Free cash flow margin
17.3%
29.4%
26.2%
Cash from investing
-2,616
-148
-4,055
Cash from financing
652
-696
2,803
Depreciation and amortisation
396
384
342
+3.0%
Share-based compensation
77.4
62.6
52.5
+23.6%
Buybacks
0.0
0.0
n/a
Dividends paid
97.7
94.4
93.8
+3.5%
Dividend per share
$0.28
$0.28
$0.28
0.0%
Diluted shares, weighted
352m
359m
340m
-1.9%
Shares outstanding at period end
359m
338m
336m
+6.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
9,512
8,964
7,387
+6.1%
Non-controlling interest
4.8
8.5
13.2
-43.5%
Debt
3,959
4,230
6,328
-6.4%
Operating lease liabilities
140
154
134
-9.3%
Other liabilities
2,850
2,694
3,577
+5.8%
Total liabilities and equity
16,466
16,052
17,439
+2.6%
Fixed assets
396
422
416
-6.3%
Goodwill
9,152
7,359
7,242
+24.4%
Intangible assets
3,890
3,291
3,571
+18.2%
Cash and equivalents
819
1,825
1,205
-55.1%
Receivables
930
810
891
+14.8%
Inventory
513
456
416
+12.6%
Other assets
766
1,889
3,699
-59.5%
Total assets
16,466
16,052
17,439
+2.6%
10-K for the year ended 31 December 2021, filed 1 March 2022: the filing.