By: Scott Davis

We were initially skeptical that the FTV spin-off from Danaher would create outsized value – after all DHR had already traded at a pretty healthy multiple.  Key to success of the spin was a strong M&A strategy/execution as well as continued optimization of the existing portfolio.  In this thesis, we had confidence and still do.  For context since the spin, FTV stock is up 42% and DHR is up 15% vs. the S&P 500 up 24%.

FTV Report Here