Fortive is an industrial technology company that makes and sells instruments, software, and services for industrial and healthcare professionals. Following the June 2025 spin-off of its Precision Technologies segment (now Ralliant), Fortive operates two segments. Intelligent Operating Solutions (IOS, ~68% of revenue) is anchored by Fluke, which makes handheld professional instruments — multimeters, thermal imagers, and power quality analyzers — used by electricians, maintenance technicians, and engineers. IOS also includes enterprise SaaS businesses: ServiceChannel (facility maintenance marketplace), Gordian (construction cost data and procurement software), Accruent (asset and facilities management software), Intelex (EHS compliance software), and Industrial Scientific (gas detection equipment and HaaS safety solutions). Advanced Healthcare Solutions (AHS, ~32% of revenue) serves hospitals through ASP (low-temperature sterilization systems and high-margin consumables), healthcare workflow software (Provation, Censis), Fluke Biomedical test equipment, and Landauer radiation dosimetry monitoring. Fortive generates roughly half of revenue from recurring sources — SaaS subscriptions, consumables, and HaaS — and is actively converting more of its hardware base to recurring models. Gross margins run ~63% consolidated, reflecting the software-heavy mix, with IOS generating ~37% adjusted EBITDA margins versus ~26% for AHS. Post-spin, management's strategy focuses on organic growth through faster product launches and commercial expansion into data centers, solar, and defense verticals, while prioritizing share buybacks and small bolt-on acquisitions over large M&A.