Fortive (FTV) FY2022 results: revenue $5.8 billion, up 10.9% on the year
Fortive Corp. (FTV) reported revenue of $5.8 billion for fiscal 2022, the year ended 31 December 2022, up 10.9% on the year before. Net income was $755 million, up 31.6%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$5.8 billion
+10.9% on the year
FY2015FY2022
Operating margin
16.9%
15.5% a year earlier
FY2015FY2022
Net income
$755 million
+31.6% on the year
FY2015FY2022
Diluted EPS
$2.10
+28.8% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,303
961
1,437
+35.6%
Capital expenditure
95.8
50.0
75.7
+91.6%
Free cash flow
1,207
911
1,361
+32.5%
Free cash flow margin
20.7%
17.3%
29.4%
Cash from investing
-102
-2,616
-148
Cash from financing
-1,273
652
-696
Depreciation and amortisation
466
396
384
+17.7%
Share-based compensation
93.8
77.4
62.6
+21.2%
Buybacks
443
0.0
0.0
Dividends paid
99.5
97.7
94.4
+1.8%
Dividend per share
$0.28
$0.28
$0.28
0.0%
Diluted shares, weighted
361m
352m
359m
+2.4%
Shares outstanding at period end
353m
359m
338m
-1.7%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
9,683
9,512
8,964
+1.8%
Non-controlling interest
5.2
4.8
8.5
+8.3%
Debt
3,251
3,959
4,230
-17.9%
Operating lease liabilities
131
140
154
-6.4%
Other liabilities
2,820
2,850
2,694
-1.0%
Total liabilities and equity
15,891
16,466
16,052
-3.5%
Fixed assets
422
396
422
+6.7%
Goodwill
9,048
9,152
7,359
-1.1%
Intangible assets
3,487
3,890
3,291
-10.4%
Cash and equivalents
709
819
1,825
-13.4%
Receivables
958
930
810
+3.0%
Inventory
537
513
456
+4.7%
Other assets
728
766
1,889
-4.9%
Total assets
15,891
16,466
16,052
-3.5%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.