MoatScopeRalliant CorporationRAL
Spin-off from Fortive Corporation (FTV) · Jun 28, 2025 · NYSE
one share of Ralliant common stock for every three shares of Fortive common stock
Documents
Both companies today
Moat ratings, quality scores and fair value estimates are MoatScope research opinions and refresh with the data pipeline. Price / FV below 1.00× means the shares trade under our base-case estimate.
What is being separated
Ralliant is Fortive's former Precision Technologies segment: businesses that design, manufacture and service precision instruments and highly engineered products for test and measurement, sensing and power applications. Fortive keeps its intelligent operating solutions and healthcare businesses. Ralliant closed the distribution with about $1.15 billion of debt and a $750 million revolver.
Stated rationaleFortive said in September 2024 that two companies with focused business models could each set its own growth and capital allocation priorities.
The four questions
Indiscriminate selling
StrongManagement incentives
PartialThe hidden jewel
PartialLeverage
PartialThe write-up
Fortive distributed Ralliant on June 28, 2025, one Ralliant share for every three Fortive shares. Ralliant is the former Precision Technologies segment — businesses that design, manufacture and service precision instruments and highly engineered products for test and measurement, sensing and power — and it closed the separation with about $1.15 billion of debt and a $750 million revolver. Fortive keeps its intelligent operating solutions and healthcare businesses. On MoatScope's framework Ralliant carries a Narrow moat and a quality score of 36 at a $7.2 billion market value, trading at $63.46 against a base-case fair value estimate of $103.17 — 0.60×. Fortive carries a Narrow moat and a quality score of 47 at $18.9 billion, 0.89× fair value.
Not investment advice. Terms are as stated in the latest filing; spin-off shares are often thinly covered and volatile in their first months. Write-up dated Sep 8, 2026.