Fortive Corp (FTV) is overvalued and Keysight Technologies Inc (KEYS) is slightly overvalued.
Both trade above our estimate of their intrinsic value. KEYS is the closer of the two: -14%, against -170% for FTV.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.4% (average of 3 methods) values the shares at $20.74; the price of $55.95 is 170% above that value, and 74% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
A 8.0x revenue multiple, adjusted for growth and margin, values the shares at $305.41; the price of $347.32 is 14% above that value.
Leak Score 47/100 on 9 of 12 signals
| Metric | FTV | KEYS |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $55.95 | $347.32 |
| Intrinsic value | $20.74 | $305.41 |
| Margin of safety | -170% | -14% |
| Leak Score | 27/100 (3/12) | 47/100 (9/12) |
| Market cap | $16.9B | $59.1B |
| Revenue growth, 5 years | -2.1% | 5.0% |
| Operating margin | 18.2% | 24.4% |
| Net margin | 12.4% | 19.1% |
| Return on equity | 7.3% | 20.9% |
| Debt to equity | 0.58 | 0.42 |
| P/E | 33.0x | 47.8x |
| Forward P/E | 17.2x | 25.4x |
| P/B | 2.8x | 9.0x |
| Dividend yield | 0.4% | — |