Ralliant's Strategic Overview - Ralliant expects separation from Fortive to be completed on June 28, 2025[22] - The company reported 2024 revenue of $22 billion with a 35% revenue CAGR from 2019 to 2024[46] - Ralliant's adjusted EBITDA margin for 2024 was 257%[46] - The company's cumulative free cash flow from 2019-2024 was approximately $20 billion[46] Segment Performance and Growth Vectors - Sensors and Safety Systems accounted for 56% of Ralliant's 2024 sales, while Test and Measurement accounted for 44%[46, 51] - North America accounted for 53% of Ralliant's 2024 sales[46] - Ralliant is targeting a serviceable addressable market (SAM) of approximately $16 billion[43, 96] - The company expects SAM growth of ~3%[96] Financial Outlook and Capital Allocation - Ralliant is targeting greater than $1 billion of cumulative free cash flow through 2028[258, 271] - The company aims to maintain net working capital below 10% of revenue[79, 84, 258] - Ralliant expects capital expenditure to be approximately 2% of revenue[84, 258]