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Fortive or Its Spin-Off Ralliant - Which One Is a Better Buy?

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Event-Driven

<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.


フォーティブ社（NYSE: FTV）が精密技術事業をスピンオフへ