Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li>Fortive (FTV) will spin off 100% of Ralliant on June 28, 2025.</li><li>Ralliant will trade under the ticker RAL. When issued trading will begin on June 25th. Ralliant will host an investor day on June 10, 2025.</li><li>Ralliant (Precision Technologies) will be a $2.2B revenue company (2024) focused on Test &amp; Measurement and Sensors &amp; Safety Systems.</li></ul>

Fortive (FTV) will spin off 100% of Ralliant on June 28, 2025.Ralliant will trade under the ticker RAL. When issued trading will begin on June 25th. Ralliant will host an investor day on June 10, 2025.Ralliant (Precision Technologies) will be a $2.2B revenue company (2024) focused on Test &amp; Measurement and Sensors &amp; Safety Systems.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Fortive Corporation had a mixed start to 2025, reflecting both challenges and areas of resilience amidst a dynamic macroeconomic landscape.</li><li>While the company delivered adjusted earnings per share of $0.85, boosted by improved margins and robust cash flow despite underwhelming revenue figures, the overall performance signals both opportunities and hurdles going forward.</li><li>On the positive side, Fortive's operating execution enabled expansions in both adjusted gross and operating margins, despite a slight revenue miss.</li></ul>

Fortive Corporation had a mixed start to 2025, reflecting both challenges and areas of resilience amidst a dynamic macroeconomic landscape.While the company delivered adjusted earnings per share of $0.85, boosted by improved margins and robust cash flow despite underwhelming revenue figures, the overall performance signals both opportunities and hurdles going forward.On the positive side, Fortive's operating execution enabled expansions in both adjusted gross and operating margins, despite a slight revenue miss.

Fortive Corporation: Can It Build On The Growth In Precision Technologies While Handling The Evolving Market Dynamics?

<ul><li>Fortive Corporation recently presented their fourth-quarter and full-year results, highlighting a combination of strengths and challenges that investors might consider when evaluating the company's investment potential.</li><li>Positive aspects of Fortive's performance include a strong track record of financial accomplishments in 2024.</li><li>The company reported better-than-expected core growth, adjusted earnings, and free cash flow, capping a robust year.</li></ul>

Fortive Corporation recently presented their fourth-quarter and full-year results, highlighting a combination of strengths and challenges that investors might consider when evaluating the company's investment potential.Positive aspects of Fortive's performance include a strong track record of financial accomplishments in 2024.The company reported better-than-expected core growth, adjusted earnings, and free cash flow, capping a robust year.

Fortive Corporation: How Its 2025 Spin-Off Could Reshape the Business!

<ul><li>Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow guidance.</li><li>The growth rates were 14% in adjusted EPS and 12% in free cash flow on a revenue increase of 3%.</li><li>Noteworthy is the strength in Advanced Healthcare Solutions and Intelligent Operating Solutions, with a notable recovery observed in the Precision Technologies segment.</li></ul>

Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow guidance.The growth rates were 14% in adjusted EPS and 12% in free cash flow on a revenue increase of 3%.Noteworthy is the strength in Advanced Healthcare Solutions and Intelligent Operating Solutions, with a notable recovery observed in the Precision Technologies segment.

Fortive Corporation: How Is It Executing Strategic Repositioning Through Spin-offs? - Major Drivers

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

<ul>
<li>On September 4, 2024, Fortive Corp (NYSE: FTV) announced plans to separate its Precision Technologies business into a separate publicly listed company (NewCo), via a tax-free spin-off transaction.</li>
<li>NewCo, being more volatile and lower margin, versus the parent, has been a drag on the overall valuation of FTV.</li>
<li>FTV (ex NewCo) will be a high recurring revenue business with strong free cash flow generation profile. We believe that FTV (ex NewCo) will command a higher multiple.</li>
</ul>


On September 4, 2024, Fortive Corp (NYSE: FTV) announced plans to separate its Precision Technologies business into a separate publicly listed company (NewCo), via a tax-free spin-off transaction.
NewCo, being more volatile and lower margin, versus the parent, has been a drag on the overall valuation of FTV.
FTV (ex NewCo) will be a high recurring revenue business with strong free cash flow generation profile. We believe that FTV (ex NewCo) will command a higher multiple.


Fortive Corp (NYSE: FTV) To Spin-Off Precision Technologies Business

United States

Fortive Corporation operates as a diversified industrial growth company. The Company focuses on professional instrumentation, automation, sensing, and transportation technologies. Fortive serves customers worldwide.

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Fortive (FTV US)

Weekly Update (FTV, NLOP, STRZ, RAL)

Fortive (FTV) will spin off 100% of Ralliant on June 28, 2025. Ralliant will trade under the ticker RAL. When issued trading will begin on June 25th.

Richard Howe

Fortive Corporation: Can It Build On The Growth In Precision Technologies While Handling The Evolving Market Dynamics?

Fortive Corporation had a mixed start to 2025, reflecting both challenges and areas of resilience amidst a dynamic macroeconomic landscape. While...

Baptista Research

Fortive Corporation: How Its 2025 Spin-Off Could Reshape the Business!

Fortive Corporation recently presented their fourth-quarter and full-year results, highlighting a combination of strengths and challenges that...

Baptista Research

Fortive Corporation: How Is It Executing Strategic Repositioning Through Spin-offs? - Major Drivers

Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow...

Baptista Research

Fortive Corp (NYSE: FTV) To Spin-Off Precision Technologies Business

Fortive Corp to spin off Precision Technologies business into separate publicly listed company, NewCo. Spin-off to unlock value for shareholders.

GSBR Research

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52-week Range

Market Cap (USDm)

P/E

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Weekly Update (FTV, NLOP, STRZ, RAL)

Fortive (FTV) will spin off 100% of Ralliant on June 28, 2025. Ralliant will trade under the ticker RAL. When issued trading will begin on June 25th.

Richard Howe

Fortive Corporation: Can It Build On The Growth In Precision Technologies While Handling The Evolving Market Dynamics?

Fortive Corporation had a mixed start to 2025, reflecting both challenges and areas of resilience amidst a dynamic macroeconomic landscape. While...

Baptista Research

Fortive Corporation: How Its 2025 Spin-Off Could Reshape the Business!

Fortive Corporation recently presented their fourth-quarter and full-year results, highlighting a combination of strengths and challenges that...

Baptista Research

Fortive Corporation: How Is It Executing Strategic Repositioning Through Spin-offs? - Major Drivers

Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow...

Baptista Research

Fortive Corp (NYSE: FTV) To Spin-Off Precision Technologies Business

​Fortive Corp to spin off Precision Technologies business into separate publicly listed company, NewCo. Spin-off to unlock value for shareholders.

GSBR Research

Fortive Corp to spin off Precision Technologies business into separate publicly listed company, NewCo. Spin-off to unlock value for shareholders.