A Business at a Glance
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Fortrea Holdings Inc.
FTRE
$1.8B
Mkt Cap
$19.52
+0.10%
Fortrea Holdings Inc. (FTRE) has a 5-year average return on invested capital (ROIC) of -13.8%. This is below average and may indicate limited pricing power.
Fortrea Holdings Inc. (FTRE) has a market capitalization of $1.8B. It is classified as a small-cap stock.
Fortrea Holdings Inc. (FTRE) does not currently pay a regular dividend.
Fortrea Holdings Inc. (FTRE) operates in the Services-Medical Laboratories industry, within the Healthcare sector.
Fortrea Holdings Inc. (FTRE) reported annual revenue of $2.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Fortrea Holdings Inc. (FTRE) has a net profit margin of -36.2%. The company is currently unprofitable.
Fortrea Holdings Inc. (FTRE) generated $88 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Fortrea Holdings Inc. is a leading global contract research organization (“CRO”), providing biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology and medical device customers. We provide phase I through IV clinical trial management, clinical pharmacology, and consulting services for our customers. For more than 30 years, we have supported our global pharmaceutical, biotechnology, and medical device customers across more than 20 therapeutic areas, providing agile delivery models that include Full Service, Functional Service Provider (“FSP”), and Hybrid structures. We believe we are well positioned to leverage our global scale, scientific and therapeutic expertise, access to clinical data-driven insights, industry network, and decades of experience to bring customers distinctive, expert solutions. Our team of approximately 14,300 employees is able to conduct operations in approximately 100 countries.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.7B | 2.7B | 2.7B | 2.8B | 2.8B | 3.1B |
| Net Income | -447M | -986M | -329M | -25M | 186M | 98M |
| EPS | $-4.90 | $-10.81 | $-3.67 | $-0.29 | $2.09 | $1.10 |
| Free Cash Flow | 190M | 88M | 237M | 128M | 28M | 143M |
| ROIC | -19.6% | -49.0% | -11.5% | 0.9% | 4.5% | - |
| Gross Margin | - | 18.5% | 19.8% | 20.8% | 25.5% | 19.8% |
| Debt/Equity | 2.00 | 2.78 | 1.21 | 1.24 | 0.02 | - |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -356M | -873M | -162M | 32M | 187M | 114M |
| Operating Margin | -13.1% | -32.0% | -6.0% | 1.1% | 6.6% | 3.7% |
| ROE | -85.0% | -102.4% | -21.4% | -1.0% | 5.6% | - |
| Shares Outstanding | 95M | 91M | 90M | 87M | 89M | 89M |
| Metric | ||||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 3.1B | 2.8B | 2.8B | 2.7B | 2.7B | 2.7B |
| Gross Margin | 19.8% | 25.5% | 20.8% | 19.8% | 18.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 303M | 416M | 448M | 561M | 456M | 435M |
| EBIT | 114M | 187M | 32M | -162M | -873M | -356M |
| Op. Margin | 3.7% | 6.6% | 1.1% | -6.0% | -32.0% | -13.1% |
| Net Income | 98M | 186M | -25M | -329M | -986M | -447M |
| Net Margin | 3.2% | 6.6% | -0.9% | -12.2% | -36.2% | -16.5% |
| Non-Recurring | 17M | 38M | 21M | 22M | 832M | 37M |
| Returns on Capital | ||||||
| ROIC | N/A | 4.5% | 0.9% | -11.5% | -49.0% | -19.6% |
| ROE | N/A | 5.6% | -1.0% | -21.4% | -102.4% | -85.0% |
| ROA | N/A | 8.4% | -0.6% | -8.3% | -31.3% | -16.7% |
| Cash Flow | ||||||
| Op. Cash Flow | 170M | 83M | 168M | 263M | 114M | 221M |
| Free Cash Flow | 143M | 28M | 128M | 237M | 88M | 190M |
| Owner Earnings | -24M | -36M | 28M | 117M | -39M | 71M |
| CapEx | 27M | 54M | 40M | 26M | 25M | 30M |
| Maint. CapEx | 166M | 94M | 98M | 87M | 78M | 78M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 166M | 94M | 98M | 87M | 78M | 78M |
| CapEx/OCF | N/A | N/A | 23.9% | 9.7% | 22.2% | 13.7% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 28M | 25M | 43M | 58M | 74M | 71M |
| Debt Repayment | 0 | 0 | 15M | 483M | 76M | 76M |
| Balance Sheet | ||||||
| Net Debt | -95M | -49M | 2.0B | 1.5B | 1.4B | 906M |
| Cash & Equiv. | 95M | 112M | 109M | 119M | 175M | 148M |
| Long-Term Debt | 0 | 0 | 1.6B | 1.0B | 1.0B | 1.0B |
| Debt/Equity | N/A | 0.02 | 1.24 | 1.21 | 2.78 | 2.00 |
| Interest Coverage | 571.5 | 935.5 | 0.5 | N/A | N/A | N/A |
| Equity | N/A | 3.3B | 1.7B | 1.4B | 564M | 526M |
| Total Assets | N/A | 4.3B | 4.3B | 3.6B | 2.7B | 2.7B |
| Total Liabilities | 53M | 945M | 2.6B | 2.2B | 2.2B | 2.2B |
| Intangibles | N/A | 823M | 728M | 656M | 622M | 602M |
| Retained Earnings | N/A | 0 | -69M | -397M | -1.4B | -1.4B |
| Working Capital | N/A | 548M | 472M | -1.3M | -16M | -48M |
| Current Assets | N/A | 1.2B | 1.3B | 948M | 897M | 882M |
| Current Liabilities | N/A | 699M | 778M | 950M | 913M | 929M |
| Per Share Data | ||||||
| EPS | 1.10 | 2.09 | -0.29 | -3.67 | -10.81 | -4.90 |
| Owner EPS | -0.27 | -0.41 | 0.32 | 1.31 | -0.43 | 0.75 |
| Book Value | N/A | 37.49 | 19.73 | 15.22 | 6.18 | 5.56 |
| Cash Flow/Share | 1.91 | 0.93 | 1.94 | 2.94 | 1.24 | -3.90 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 89.1M | 89.1M | 86.9M | 89.5M | 91.2M | 94.6M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | -4.0 |
| P/FCF | N/A | N/A | 23.9 | 7.3 | 18.0 | 9.7 |
| EV/EBIT | N/A | N/A | 139.4 | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 1.8 | 1.3 | 2.8 | 3.5 |
| Price/Sales | N/A | N/A | 0.9 | 0.9 | 0.3 | 0.7 |
| FCF Yield | N/A | N/A | 4.2% | 13.7% | 5.6% | 10.3% |
| Market Cap | 0 | N/A | 3.1B | 1.7B | 1.6B | 1.8B |
| Avg. Price | 0.00 | N/A | 30.29 | 27.17 | 9.83 | 19.52 |
| Year-End Price | 0.00 | N/A | 35.23 | 19.36 | 17.40 | 19.52 |
Fortrea Holdings Inc. passes 0 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 20.7x vs a median of 18.0x. The company's 5-year average gross margin is 20.9%. At current prices, the estimated annualized return to fair value is +3.4%.
Fortrea Holdings Inc. (FTRE) has a debt-to-equity ratio of 2.78. This indicates higher leverage, which may increase financial risk.
Fortrea Holdings Inc. (FTRE) reported earnings per share (EPS) of $-10.81 in its most recent fiscal year.
Fortrea Holdings Inc. (FTRE) has a return on equity (ROE) of -102.4%. A negative ROE may indicate losses or negative equity.
Fortrea Holdings Inc. (FTRE) has a 5-year average gross margin of 20.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for Fortrea Holdings Inc. (FTRE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Fortrea Holdings Inc. (FTRE) has a book value per share of $6.18, based on its most recent annual SEC filing.