Symbols / FTRE Stock $12.18 +5.91% Fortrea Holdings Inc.

Healthcare • Biotechnology • United States • NMS
FTRE (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Mr. Anshul Thakral
Exch · Country NMS · United States
Market Cap 1.15B
Enterprise Value 2.08B
Income -986.20M
Sales 2.72B
FCF (ttm) 196.05M
Book/sh 6.05
Cash/sh 1.87
Employees 13,871
Insider 10d —
IPO Jun 16, 2023
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E 12.96
PEG 0.34
P/S 0.42
P/B 2.01
P/C —
EV/EBITDA 50.16
EV/Sales 0.76
Quick Ratio 0.87
Current Ratio 0.98
Debt/Eq 198.26
LT Debt/Eq —
EPS (ttm) -10.81
EPS next Y 0.94
EPS Growth —
Revenue Growth -5.20%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-05-05
Earnings (prior) 2026-02-26
ROA -0.61%
ROE -102.41%
ROIC —
Gross Margin 18.50%
Oper. Margin 1.33%
Profit Margin -36.21%
Shs Outstand 94.58M
Shs Float 92.93M
Insider Own 0.66%
Instit Own 102.03%
Short Float 13.15%
Short Ratio 9.48
Short Interest 10.58M
52W High 18.67
vs 52W High -34.76%
52W Low 3.97
vs 52W Low 206.80%
Beta 1.91
Impl. Vol. 3.13%
Rel Volume 0.73
Avg Volume 1.63M
Volume 1.19M
Target (mean) $12.66
Tgt Median $12.80
Tgt Low $8.00
Tgt High $16.00
# Analysts 11
Recom Buy
Prev Close $11.50
Price $12.18
Change 5.91%
About

Fortrea Holdings Inc., a contract research organization, provides biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology, and medical device customers worldwide. It offers clinical pharmacology, such as clinical research units, external partnerships, project management, study design and monitoring, bioanalytics and biomarkers, pharmacokinetics, modeling and simulation, and biometrics; and clinical development, including phase I through IV clinical and real-world evidence studies, regulatory affairs, protocol design, operational planning, study and site start-up, patient recruitment, project management, comprehensive site and medical monitoring, data management and biostatistics, pharmacovigilance, medical writing, and mobile clinical services. The company also provides consulting services comprising product development and regulatory, market access and health economics, and outcomes research, as well as RWE services. Fortrea Holdings Inc. was incorporated in 2023 and is headquartered in Durham, North Carolina.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$12.66
Mean price target
2. Current target
$12.18
Latest analyst target
3. DCF / Fair value
$37.31
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$12.18
Low
$8.00
High
$16.00
Mean
$12.66

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-14 main Barclays Equal-Weight → Equal-Weight $11
2026-04-08 main Evercore ISI Group Outperform → Outperform $14
2026-03-09 up TD Cowen Hold → Buy $15
2026-02-27 main Barclays Equal-Weight → Equal-Weight $12
2026-02-27 main Baird Outperform → Outperform $16
2026-01-22 main TD Cowen Hold → Hold $15
2026-01-08 up Truist Securities Hold → Buy $22
2026-01-06 up Evercore ISI Group In-Line → Outperform $25
2025-12-18 main Mizuho Neutral → Neutral $13
2025-12-15 up Barclays Underweight → Equal-Weight $15
2025-12-11 up Citigroup Neutral → Buy $21
2025-11-06 main Barclays Underweight → Underweight $10
2025-10-17 main Mizuho Neutral → Neutral $9
2025-10-08 main Evercore ISI Group In-Line → In-Line $11
2025-10-02 main Barclays Underweight → Underweight $8
2025-09-09 main Jefferies Hold → Hold $10
2025-09-03 main Baird Outperform → Outperform $14
2025-08-08 main Evercore ISI Group In-Line → In-Line $7
2025-08-07 main Barclays Underweight → Underweight $6
2025-08-04 up Baird Neutral → Outperform $9
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-20 RUSSELL ERIN L Director — 23,946 — —
2026-03-16 MORAIS MARK A Chief Operating Officer — 1,804 $9.22 $16,633
2026-03-16 MCCONNELL JILL G Chief Financial Officer — 1,804 $9.22 $16,633
2026-03-13 MORAIS MARK A Chief Operating Officer — 4,284 — —
2026-03-13 MCCONNELL JILL G Chief Financial Officer — 4,284 — —
2026-03-10 PARKS ROBERT Officer — 1,927 $8.93 $17,478
2026-03-10 MCCONNELL JILL G Chief Financial Officer — 5,061 $8.93 $45,903
2026-03-09 PARKS ROBERT Officer — 5,270 — —
2026-03-09 MCCONNELL JILL G Chief Financial Officer — 15,283 — —
2026-02-10 MORAIS MARK A Chief Operating Officer — 1,179 $13.65 $16,365
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
2,723.40
+1.00%
2,696.40
-5.14%
2,842.50
+0.19%
2,837.00
Operating Revenue
2,723.40
+1.00%
2,696.40
-5.14%
2,842.50
+0.19%
2,837.00
Cost Of Revenue
2,219.60
+2.65%
2,162.20
-3.98%
2,251.90
+6.59%
2,112.60
Reconciled Cost Of Revenue
2,219.60
+2.73%
2,160.60
-3.68%
2,243.20
+6.59%
2,104.50
Gross Profit
503.80
-5.69%
534.20
-9.55%
590.60
-18.47%
724.40
Operating Expense
534.40
-17.28%
646.00
+20.21%
537.40
+7.14%
501.60
Selling General And Administration
456.40
-18.60%
560.70
+25.13%
448.10
+7.69%
416.10
Total Expenses
2,754.00
-1.93%
2,808.20
+0.68%
2,789.30
+6.70%
2,614.20
Operating Income
-30.60
+72.63%
-111.80
-310.15%
53.20
-76.12%
222.80
Total Operating Income As Reported
-872.60
-438.97%
-161.90
-605.94%
32.00
-82.90%
187.10
EBITDA
-813.60
-1165.32%
-64.30
-146.87%
137.20
-51.14%
280.80
Normalized EBITDA
55.30
+1636.11%
-3.60
-102.28%
158.10
-50.36%
318.50
Reconciled Depreciation
78.00
-10.24%
86.90
-11.33%
98.00
+4.70%
93.60
EBIT
-891.60
-489.68%
-151.20
-485.71%
39.20
-79.06%
187.20
Total Unusual Items
-868.90
-1331.47%
-60.70
-190.43%
-20.90
+44.56%
-37.70
Total Unusual Items Excluding Goodwill
-868.90
-1331.47%
-60.70
-190.43%
-20.90
+44.56%
-37.70
Special Income Charges
-842.00
-1580.64%
-50.10
-136.32%
-21.20
+40.62%
-35.70
Impairment Of Capital Assets
797.90
0.00
0.00
-100.00%
9.80
Restructuring And Mergern Acquisition
40.90
-9.71%
45.30
+113.68%
21.20
-11.30%
23.90
Write Off
3.20
-33.33%
4.80
0.00
-100.00%
2.00
Net Income
-986.20
-200.21%
-328.50
-1203.57%
-25.20
-113.53%
186.20
Pretax Income
-983.00
-257.45%
-275.00
-801.64%
-30.50
-116.31%
187.00
Net Non Operating Interest Income Expense
-91.40
+26.17%
-123.80
-77.62%
-69.70
-34750.00%
-0.20
Interest Expense Non Operating
91.40
-26.17%
123.80
+77.62%
69.70
+34750.00%
0.20
Net Interest Income
-91.40
+26.17%
-123.80
-77.62%
-69.70
-34750.00%
-0.20
Interest Expense
91.40
-26.17%
123.80
+77.62%
69.70
+34750.00%
0.20
Other Income Expense
-861.00
-2085.28%
-39.40
-181.43%
-14.00
+60.67%
-35.60
Other Non Operating Income Expenses
7.90
-62.91%
21.30
+208.70%
6.90
+228.57%
2.10
Gain On Sale Of Security
-26.90
-153.77%
-10.60
-3633.33%
0.30
+115.00%
-2.00
Tax Provision
3.20
+191.43%
-3.50
-391.67%
1.20
-97.08%
41.10
Tax Rate For Calcs
0.00
+1515.38%
0.00
-93.81%
0.00
-4.55%
0.00
Tax Effect Of Unusual Items
-182.47
-23023.69%
-0.79
+82.02%
-4.39
+47.08%
-8.29
Net Income Including Noncontrolling Interests
-986.20
-200.21%
-328.50
-1203.57%
-25.20
-113.53%
186.20
Net Income From Continuing Operation Net Minority Interest
-986.20
-263.24%
-271.50
-756.47%
-31.70
-121.73%
145.90
Net Income From Continuing And Discontinued Operation
-986.20
-200.21%
-328.50
-1203.57%
-25.20
-113.53%
186.20
Net Income Continuous Operations
-986.20
-263.24%
-271.50
-756.47%
-31.70
-121.73%
145.90
Net Income Discontinuous Operations
0.00
+100.00%
-57.00
-976.92%
6.50
-83.87%
40.30
Normalized Income
-299.77
-41.68%
-211.59
-1293.04%
-15.19
-108.66%
175.31
Net Income Common Stockholders
-986.20
-200.21%
-328.50
-1203.57%
-25.20
-113.53%
186.20
Diluted EPS
-10.81
-194.55%
-3.67
-9075.00%
-0.04
-101.90%
2.11
Basic EPS
-10.81
-194.55%
-3.67
-9075.00%
-0.04
-101.90%
2.11
Basic Average Shares
91.23
+1.92%
89.51
+5.31%
85.00
-3.85%
88.40
Diluted Average Shares
91.23
+1.92%
89.51
+5.31%
85.00
-3.85%
88.40
Diluted NI Availto Com Stockholders
-986.20
-200.21%
-328.50
-1203.57%
-25.20
-113.53%
186.20
Depreciation Amortization Depletion Income Statement
78.00
-8.56%
85.30
-4.48%
89.30
+4.44%
85.50
Depreciation And Amortization In Income Statement
78.00
-8.56%
85.30
-4.48%
89.30
+4.44%
85.50
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
2,715.70
-24.13%
3,579.20
-17.39%
4,332.60
+1.04%
4,287.90
Current Assets
897.20
-5.38%
948.20
-24.19%
1,250.80
+0.31%
1,246.90
Cash Cash Equivalents And Short Term Investments
174.60
+47.34%
118.50
+9.12%
108.60
-3.04%
112.00
Cash And Cash Equivalents
174.60
+47.34%
118.50
+9.12%
108.60
-3.04%
112.00
Receivables
620.00
-10.66%
694.00
-31.32%
1,010.50
-3.89%
1,051.40
Accounts Receivable
113.60
-27.41%
156.50
-62.76%
420.20
-6.46%
449.20
Receivables Adjustments Allowances
-41.20
-4.83%
-39.30
-23.97%
-31.70
-149.61%
-12.70
Other Receivables
517.30
-4.61%
542.30
-9.62%
600.00
+2.44%
585.70
Taxes Receivable
30.30
-12.17%
34.50
+56.82%
22.00
-24.66%
29.20
Prepaid Assets
65.00
+11.11%
58.50
+71.55%
34.10
+4.28%
32.70
Assets Held For Sale Current
—
0.00
-100.00%
69.10
—
Other Current Assets
37.60
-51.30%
77.20
+170.88%
28.50
-43.90%
50.80
Total Non Current Assets
1,818.50
-30.88%
2,631.00
-14.63%
3,081.80
+1.34%
3,041.00
Net PPE
149.50
-4.35%
156.30
-9.44%
172.60
+4.67%
164.90
Gross PPE
332.80
+3.87%
320.40
-0.50%
322.00
+9.67%
293.60
Accumulated Depreciation
-183.30
-11.70%
-164.10
-9.84%
-149.40
-16.08%
-128.70
Properties
0.00
0.00
0.00
0.00
Land And Improvements
81.40
-0.97%
82.20
+5.66%
77.80
+432.88%
14.60
Machinery Furniture Equipment
171.50
+5.54%
162.50
+1.63%
159.90
+1.46%
157.60
Construction In Progress
23.90
+151.58%
9.50
-1.04%
9.60
-76.81%
41.40
Other Properties
56.00
-15.41%
66.20
-11.38%
74.70
+49.40%
50.00
Leases
—
82.20
+5.66%
77.80
+159.33%
30.00
Goodwill And Other Intangible Assets
1,582.00
-33.14%
2,366.10
-4.11%
2,467.50
-12.52%
2,820.60
Goodwill
960.00
-43.87%
1,710.40
-1.67%
1,739.40
-12.91%
1,997.30
Other Intangible Assets
622.00
-5.14%
655.70
-9.94%
728.10
-11.56%
823.30
Non Current Deferred Assets
6.20
+19.23%
5.20
+62.50%
3.20
+166.67%
1.20
Non Current Deferred Taxes Assets
6.20
+19.23%
5.20
+62.50%
3.20
+166.67%
1.20
Other Non Current Assets
80.80
-21.86%
103.40
-76.42%
438.50
+707.55%
54.30
Total Liabilities Net Minority Interest
2,152.20
-2.91%
2,216.80
-15.34%
2,618.50
+177.00%
945.30
Current Liabilities
913.30
-3.81%
949.50
+21.98%
778.40
+11.36%
699.00
Payables And Accrued Expenses
256.60
-32.19%
378.40
+12.96%
335.00
+31.84%
254.10
Payables
88.70
-53.54%
190.90
-1.04%
192.90
+59.42%
121.00
Accounts Payable
29.70
-78.51%
138.20
+3.99%
132.90
+63.07%
81.50
Current Accrued Expenses
167.90
-10.45%
187.50
+31.95%
142.10
+6.76%
133.10
Pensionand Other Post Retirement Benefit Plans Current
140.70
+55.30%
90.60
-15.96%
107.80
-12.36%
123.00
Total Tax Payable
59.00
+11.95%
52.70
-12.17%
60.00
+51.90%
39.50
Current Debt And Capital Lease Obligation
14.00
-84.13%
88.20
+103.70%
43.30
+85.84%
23.30
Current Debt
4.80
-93.58%
74.80
+186.59%
26.10
—
Other Current Borrowings
4.80
-93.58%
74.80
+186.59%
26.10
—
Current Capital Lease Obligation
9.20
-31.34%
13.40
-22.09%
17.20
-26.18%
23.30
Current Deferred Liabilities
473.80
+34.11%
353.30
+64.94%
214.20
-21.10%
271.50
Current Deferred Revenue
473.80
+34.11%
353.30
+64.94%
214.20
-21.10%
271.50
Other Current Liabilities
28.20
-27.69%
39.00
-50.06%
78.10
+188.19%
27.10
Total Non Current Liabilities Net Minority Interest
1,238.90
-2.24%
1,267.30
-31.13%
1,840.10
+647.10%
246.30
Liabilities Heldfor Sale Non Current
—
0.00
-100.00%
31.60
—
Long Term Debt And Capital Lease Obligation
1,102.00
-0.75%
1,110.30
-31.83%
1,628.70
+3961.60%
40.10
Long Term Debt
1,048.00
-0.16%
1,049.70
-32.97%
1,565.90
—
Long Term Capital Lease Obligation
54.00
-10.89%
60.60
-3.50%
62.80
+56.61%
40.10
Non Current Deferred Liabilities
97.60
-19.80%
121.70
-17.60%
147.70
-19.95%
184.50
Non Current Deferred Taxes Liabilities
97.60
-19.80%
121.70
-17.60%
147.70
-19.95%
184.50
Other Non Current Liabilities
39.30
+11.33%
35.30
+9.97%
32.10
+47.93%
21.70
Stockholders Equity
563.50
-58.64%
1,362.40
-20.52%
1,714.10
-48.72%
3,342.60
Common Stock Equity
563.50
-58.64%
1,362.40
-20.52%
1,714.10
-48.72%
3,342.60
Capital Stock
0.10
+0.00%
0.10
+0.00%
0.10
0.00
Common Stock
0.10
+0.00%
0.10
+0.00%
0.10
0.00
Share Issued
93.10
+3.79%
89.70
+1.01%
88.80
+0.00%
88.80
Ordinary Shares Number
93.10
+3.79%
89.70
+1.01%
88.80
+0.00%
88.80
Additional Paid In Capital
2,116.60
+3.64%
2,042.20
+2.21%
1,998.00
0.00
Retained Earnings
-1,383.20
-248.41%
-397.00
-479.56%
-68.50
0.00
Gains Losses Not Affecting Retained Earnings
-170.00
+39.91%
-282.90
-31.28%
-215.50
+21.92%
-276.00
Other Equity Adjustments
-170.00
+39.91%
-282.90
-31.28%
-215.50
+21.92%
-276.00
Total Equity Gross Minority Interest
563.50
-58.64%
1,362.40
-20.52%
1,714.10
-48.72%
3,342.60
Total Capitalization
1,611.50
-33.19%
2,412.10
-26.46%
3,280.00
-1.87%
3,342.60
Working Capital
-16.10
-1138.46%
-1.30
-100.28%
472.40
-13.78%
547.90
Invested Capital
1,616.30
-35.01%
2,486.90
-24.78%
3,306.10
-1.09%
3,342.60
Total Debt
1,116.00
-6.88%
1,198.50
-28.32%
1,672.00
+2537.22%
63.40
Net Debt
878.20
-12.70%
1,006.00
-32.18%
1,483.40
—
Capital Lease Obligations
63.20
-14.59%
74.00
-7.50%
80.00
+26.18%
63.40
Net Tangible Assets
-1,018.50
-1.47%
-1,003.70
-33.22%
-753.40
-244.33%
522.00
Tangible Book Value
-1,018.50
-1.47%
-1,003.70
-33.22%
-753.40
-244.33%
522.00
Interest Payable
18.00
-22.75%
23.30
+3.56%
22.50
0.00
Other Equity Interest
—
—
—
3,618.60
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
113.50
-56.81%
262.80
+56.06%
168.40
+103.63%
82.70
Cash Flow From Continuing Operating Activities
113.50
-56.81%
262.80
+56.06%
168.40
+103.63%
82.70
Net Income From Continuing Operations
-986.20
-200.21%
-328.50
-1203.57%
-25.20
-113.53%
186.20
Depreciation Amortization Depletion
78.00
-10.24%
86.90
-11.33%
98.00
+4.70%
93.60
Depreciation
—
—
32.60
+20.74%
27.00
Amortization Cash Flow
—
—
63.80
-2.89%
65.70
Depreciation And Amortization
78.00
-10.24%
86.90
-11.33%
98.00
+4.70%
93.60
Amortization Of Intangibles
—
—
63.80
-2.89%
65.70
Other Non Cash Items
16.00
-31.33%
23.30
-11.74%
26.40
-8.97%
29.00
Stock Based Compensation
74.40
+27.40%
58.40
+36.77%
42.70
+68.11%
25.40
Provisionand Write Offof Assets
12.00
-45.95%
22.20
-20.14%
27.80
+717.65%
3.40
Asset Impairment Charge
800.20
+1851.71%
41.00
+205.97%
13.40
+36.73%
9.80
Deferred Tax
-32.00
-30.08%
-24.60
+40.87%
-41.60
-152.12%
-16.50
Deferred Income Tax
-32.00
-30.08%
-24.60
+40.87%
-41.60
-152.12%
-16.50
Operating Gains Losses
36.40
+36300.00%
0.10
-97.73%
4.40
—
Net Foreign Currency Exchange Gain Loss
36.40
+286.67%
-19.50
-543.18%
4.40
—
Change In Working Capital
114.70
-70.13%
384.00
+1606.67%
22.50
+109.07%
-248.20
Change In Receivables
70.90
-77.12%
309.90
+680.34%
-53.40
+50.74%
-108.40
Change In Prepaid Assets
32.40
+141.49%
-78.10
-2197.06%
-3.40
+62.64%
-9.10
Change In Payables And Accrued Expense
-103.40
-947.54%
12.20
-85.03%
81.50
+181.01%
-100.60
Change In Accrued Expense
6.50
+30.00%
5.00
-80.92%
26.20
+120.89%
-125.40
Change In Payable
-109.90
-1626.39%
7.20
-86.98%
55.30
+122.98%
24.80
Change In Account Payable
-109.90
-1626.39%
7.20
-86.98%
55.30
+122.98%
24.80
Change In Other Working Capital
114.80
-18.00%
140.00
+6463.64%
-2.20
+92.69%
-30.10
Investing Cash Flow
14.40
-94.28%
251.60
+891.19%
-31.80
+41.11%
-54.00
Cash Flow From Continuing Investing Activities
14.40
-94.28%
251.60
+891.19%
-31.80
+41.11%
-54.00
Capital Expenditure
-25.20
+1.18%
-25.50
+36.72%
-40.30
+25.92%
-54.40
Capital Expenditure Reported
-25.20
+1.18%
-25.50
+36.72%
-40.30
+25.92%
-54.40
Net Business Purchase And Sale
39.60
-85.68%
276.60
0.00
0.00
Purchase Of Business
—
—
—
0.00
Gain Loss On Sale Of Business
0.00
-100.00%
19.60
0.00
0.00
Net Other Investing Changes
—
0.50
-94.12%
8.50
+2025.00%
0.40
Financing Cash Flow
-76.30
+84.67%
-497.80
-253.55%
-140.80
-2134.92%
-6.30
Cash Flow From Continuing Financing Activities
-76.30
+84.67%
-497.80
-253.55%
-140.80
-2134.92%
-6.30
Net Issuance Payments Of Debt
-75.70
+84.32%
-482.70
-129.87%
1,616.00
0.00
Issuance Of Debt
453.90
-45.08%
826.50
-53.97%
1,795.40
0.00
Repayment Of Debt
-529.60
+59.55%
-1,309.20
-629.77%
-179.40
0.00
Long Term Debt Issuance
453.90
-45.08%
826.50
-53.97%
1,795.40
0.00
Long Term Debt Payments
-529.60
+59.55%
-1,309.20
-629.77%
-179.40
0.00
Net Long Term Debt Issuance
-75.70
+84.32%
-482.70
-129.87%
1,616.00
0.00
Short Term Debt Issuance
—
—
164.00
0.00
Short Term Debt Payments
—
—
-164.00
0.00
Net Short Term Debt Issuance
—
—
0.00
0.00
Net Other Financing Charges
-0.60
+96.03%
-15.10
+99.14%
-1,756.80
-27785.71%
-6.30
Changes In Cash
51.60
+210.84%
16.60
+495.24%
-4.20
-118.75%
22.40
Effect Of Exchange Rate Changes
4.50
+167.16%
-6.70
-379.17%
2.40
+136.36%
-6.60
Beginning Cash Position
118.50
+9.12%
108.60
-1.63%
110.40
+16.70%
94.60
End Cash Position
174.60
+47.34%
118.50
+9.12%
108.60
-1.63%
110.40
Free Cash Flow
88.30
-62.79%
237.30
+85.25%
128.10
+352.65%
28.30
Sale Of Business
39.60
-85.68%
276.60
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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