Discounted Cash Flow

Fortive Corp.

FTV · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $6.2b $872.3m $1.0b 14.0% $2.52
2017 $6.7b (6.9%) $1.0b (19.7%) $1.0b (3.3%) 15.7% (12.0%) $3.01 (19.4%)
2018 $6.5b (-3.1%) $2.9b (175.6%) $1.2b (18.4%) 44.6% (184.3%) $8.33 (176.7%)
2019 $7.3b (13.4%) $669.9m (-76.7%) $1.2b (-5.9%) 9.2% (-79.5%) $1.99 (-76.1%)
2020 $4.6b (-36.7%) $1.5b (130.5%) $1.4b (17.4%) 33.3% (264.1%) $4.58 (130.2%)
2021 $5.3b (13.4%) $573.9m (-62.8%) $911.1m (-33.1%) 10.9% (-67.2%) $1.64 (-64.2%)
2022 $5.8b (10.9%) $755.2m (31.6%) $1.2b (32.5%) 13.0% (18.7%) $2.12 (29.3%)
2023 $6.1b (4.1%) $865.8m (14.6%) $1.2b (3.2%) 14.3% (10.1%) $2.46 (16.0%)
2024 $6.2b (2.7%) $832.9m (-3.8%) $1.4b (12.9%) 13.4% (-6.4%) $2.39 (-2.8%)
2025 $4.2b (-33.3%) $579.2m (-30.5%) $978.1m (-30.5%) 13.9% (4.2%) $1.74 (-27.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model