greeksoup/ stock research
Stock research / United States / FTRE · Services-Medical Laboratories · Nasdaq

Fortrea Holdings Inc. (FTRE)

Compare with another name

Fortrea Holdings Inc. (FTRE) reported revenue of $678 million for Q2 FY2026, the quarter ended 30 June 2026, down 4.5% on the same quarter a year earlier. Net income was -$13 million, and diluted earnings per share $-0.14. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.

Revenue$678 milliondown 4.5%
Net income-$13 million
Diluted EPS$-0.14
QuarterQ2 FY2026ended 30 June 2026

Fortrea Holdings (FTRE) in brief

Fortrea Holdings (FTRE) reported revenue of $2.7 billion for fiscal 2025, the year ended 31 December 2025, up 1.0% on the year before.
Read moreNet loss was $986 million and the diluted loss per share $10.81. Revenue was $2.7 billion in fiscal 2024, $2.8 billion in fiscal 2023, $2.8 billion in fiscal 2022 and $3.1 billion in fiscal 2021. Net income in the same years was a loss of $328 million, a loss of $25 million, $186 million and $98 million. Over the twelve months to 30 June 2026, Fortrea Holdings reported revenue of $2.7 billion and net loss of $85 million. Fortrea Holdings had 95 million shares outstanding at the latest filed count. At 30 June 2026 it carried $1.0 billion of debt and $169 million of cash. At the close of 9 October 2026 the market cap of Fortrea Holdings was $2.0 billion.

Ratios

From the filings

ROE-16.3%
ROCE-0.7%
Operating margin-0.4%
Net margin-3.2%
FCF margin7.3%
Interest covern/a
Debt to equity1.98
Cash conversionn/a
Share count, 1 year4.7%
Sales CAGR, 3 years-1.4%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.91

At the close of 9 October 2026

Price$20.85
Market cap$2.0 billion
Stock P/En/a
Price to book3.78
EV / EBITDA42.24
Dividend yieldn/a
Market cap / sales0.74
52-week high$21.12
52-week low$8.87
Price, 1 year94.0%
Price CAGR, 3 years-10.0%
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Fortrea Holdings Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
FTREgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on FTRE

Filings17 in twelve months: 10 current reports (8-K), about 5 officer or director change; 4 results of operations; 2 regulation FD disclosure; 1 shareholder vote
Planned insider sales22 Form 144 notices in twelve months, $5.3 million; latest 11 September 2026
Options tapeput/call 0.03 by open interest at the 9 October 2026 close; the straddle prices a 8.8% move to 16 October 2026
13F holders6 of the followed funds hold it; largest FMR LLC; 4 Schedule 13D or 13G filings in twelve months
Insider trading24 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest12.6 million shares short, 7.80 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023 †Q4 FY2023 * †Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue714710662662675697651710701660636678
Cost of revenue564578554525527556535577579529513539
Gross profit150132108137148141116134123131124139
Gross margin21%19%16%21%22%20%18%19%17%20%19%21%
SG&A107127120156136148122125107103100102
Operating income10.3-24.0-37.4-50.9-18.0-55.6-520-330-8.6-13.6-3.414.8
Operating margin1%-3%-6%-8%-3%-8%-80%-47%-1%-2%-1%2%
Interest expense34.634.4n/an/an/an/an/an/an/an/an/an/a
Pre-tax income-21.9-54.7-75.7-88.6-35.8-74.9-548-371-28.7-35.6-12.3-1.2
Net income-14.0-54.5-101-138-27.9-61.2-563-375-15.9-32.5-23.6-13.2
Net margin-2%-8%-15%-21%-4%-9%-86%-53%-2%-5%-4%-2%
Diluted EPS-$0.15-$0.41-$1.13-$1.55-$0.31-$0.68-$6.25-$4.14-$0.17-$0.35-$0.25-$0.14
Operating cash flow0.812.4-25.6274-2.417.1-12421.886.8129-17.028.9
Capital expenditure5.19.49.311.28.2n/a2.97.57.37.58.09.0
Free cash flow-4.33.0-34.9262-10.6n/a-12714.379.5122-25.019.9
Shares outstanding89m89m89m90m90m90m90m91m92m93m95m95m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 5 fiscal years and the trailing twelve months

FY2021FY2022 †FY2023 †FY2024FY2025TTM
Revenue3,0582,8372,8422,6962,7232,676
Cost of revenue2,4532,1132,2522,1622,2202,160
Gross profit604724591534504517
Gross margin19.8%25.5%20.8%19.8%18.5%19.3%
Selling, general and administrative303416448561456412
Operating income11418732.0-162-873-10.8
Operating margin3.7%6.6%1.1%-6.0%-32.0%-0.4%
Interest expense0.20.269.8n/an/an/a
Pre-tax income136187-30.5-275-983-77.8
Income tax38.441.11.2-3.53.27.4
Effective tax rate28.2%22.0%n/an/an/an/a
Net income98.0186-25.2-328-986-85.2
Net margin3.2%6.6%-0.9%-12.2%-36.2%-3.2%
Diluted EPS$1.10$2.09-$0.04-$3.67-$10.81-$0.91
Filing10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by region

FY2023FY2024FY2025Share
latest year
North America1,3981,2701,29047.4%
Europe82880085231.3%
Other61762758221.4%
North AmericaEuropeOther
2,842FY20232,696FY20242,723FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2021FY2022 †FY2023 †FY2024FY2025TTM
Operating cash flow17082.7168263114228
Capital expenditure26.554.440.325.525.231.8
Free cash flow14328.312823788.3196
Free cash flow margin4.7%1.0%4.5%8.8%3.2%7.3%
Cash from investing-26.2-54.0-31.825214.4-9.2
Cash from financing-128-6.3-141-498-76.3-126
Depreciation and amortisation16693.698.086.978.078.3
Share-based compensation27.525.442.758.474.461.1
Diluted shares, weighted89m89m89m90mn/a95m
Shares outstanding at period endn/a089m90m93m95m
Filing10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2021FY2022 †FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity3,2613,3431,7141,362564524
Debtn/a0.01,5661,0501,0481,037
Operating lease liabilitiesn/a40.162.860.654.054.3
Other liabilitiesn/a9059901,1061,0501,099
Total liabilities and equityn/a4,2884,3333,5792,7162,715
Owned
Fixed assetsn/a165n/an/an/an/a
Goodwill2,0811,7071,7391,710960950
Intangible assetsn/a823728656622587
Cash and equivalents94.6112109118175169
Other assetsn/a1,4801,7561,0959591,009
Total assetsn/a4,2884,3333,5792,7162,715
Filing10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/an/a-1.4%-2.1%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/a-38.4%-66.9%-175.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Fortrea Holdings' revenue in fiscal 2025?

Fortrea Holdings (FTRE) reported revenue of $2.7 billion for fiscal 2025, the year ended 31 December 2025, up 1.0% on the year before.

How much did Fortrea Holdings earn in fiscal 2025?

Net loss was $986 million for fiscal 2025, and the diluted loss per share $10.81.

What is Fortrea Holdings' market cap?

The market cap of Fortrea Holdings was $2.0 billion at the close of 9 October 2026.

How much debt does Fortrea Holdings have?

At 30 June 2026 Fortrea Holdings carried $1.0 billion of debt and $169 million of cash.

Peers: Healthcare

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Quest Diagnostics Inc. DGX$25.5 billion24.5414.1%14.1%9.9%0.751.4%
Labcorp Holdings Inc. LH$25.3 billion25.8311.6%10.4%6.4%0.680.9%
Veracyte, Inc. VCYT$3.6 billion32.088.2%18.8%17.3%0.00n/a
National Healthcare Corp. NHC$3.6 billion25.5212.5%9.3%6.9%0.001.1%
Acadia Healthcare Company, Inc. ACHC$2.7 billionn/a-56.9%-32.6%4.3%1.22n/a
Privia Health Group, Inc. PRVA$2.6 billion99.293.6%1.9%24.1%0.00n/a
Pediatrix Medical Group, Inc. MD$2.2 billion12.7519.8%11.0%0.5%0.45n/a
Progyny, Inc. PGNY$2.2 billion30.3717.3%8.6%5.5%0.00n/a
Addus HomeCare Corp. ADUS$2.1 billion20.059.2%10.0%15.9%0.05n/a
Fortrea Holdings Inc. FTRE$2.0 billionn/a-16.3%-0.4%-2.1%1.98n/a
Healthcare Services Group Inc. HCSG$1.4 billion11.9723.7%n/a5.2%0.004.2%
U S Physical Therapy Inc. USPH$1.3 billion95.877.2%9.4%11.3%0.492.1%
All 26 in Healthcare
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
HCA Healthcare, Inc. HCA$98.3 billion15.10n/a12.7%7.3%n/a0.7%
Quest Diagnostics Inc. DGX$25.5 billion24.5414.1%14.1%9.9%0.751.4%
Labcorp Holdings Inc. LH$25.3 billion25.8311.6%10.4%6.4%0.680.9%
Tenet Healthcare Corp. THC$21.2 billion10.1748.1%20.8%5.4%2.81n/a
BrightSpring Health Services, Inc. BTSG$12.6 billionn/an/an/an/a1.07n/a
Encompass Health Corp. EHC$12.2 billion20.0723.9%18.0%9.5%1.000.6%
Davita Inc. DVA$11.5 billion14.67n/a15.2%6.4%n/an/a
Universal Health Services Inc. UHS$10.6 billion7.2320.3%11.4%10.0%0.650.5%
Ensign Group, Inc. ENSG$10.0 billion26.9215.5%8.5%18.9%0.060.1%
Hims & Hers Health, Inc. HIMS$7.2 billionn/a-43.8%-6.0%28.0%4.21n/a
Chemed Corp. CHE$6.5 billion25.0833.1%13.5%3.3%0.170.4%
Sotera Health Co. SHC$5.2 billion31.6824.6%n/a8.1%3.21n/a
LifeStance Health Group, Inc. LFST$4.7 billion95.623.4%4.9%20.4%0.19n/a
Concentra Group Holdings Parent, Inc. CON$4.7 billion23.9841.7%16.4%14.0%3.270.7%
Option Care Health, Inc. OPCH$4.7 billion23.3716.6%5.9%5.9%0.92n/a
Veracyte, Inc. VCYT$3.6 billion32.088.2%18.8%17.3%0.00n/a
National Healthcare Corp. NHC$3.6 billion25.5212.5%9.3%6.9%0.001.1%
Acadia Healthcare Company, Inc. ACHC$2.7 billionn/a-56.9%-32.6%4.3%1.22n/a
Privia Health Group, Inc. PRVA$2.6 billion99.293.6%1.9%24.1%0.00n/a
Pediatrix Medical Group, Inc. MD$2.2 billion12.7519.8%11.0%0.5%0.45n/a
Progyny, Inc. PGNY$2.2 billion30.3717.3%8.6%5.5%0.00n/a
Addus HomeCare Corp. ADUS$2.1 billion20.059.2%10.0%15.9%0.05n/a
Fortrea Holdings Inc. FTRE$2.0 billionn/a-16.3%-0.4%-2.1%1.98n/a
Healthcare Services Group Inc. HCSG$1.4 billion11.9723.7%n/a5.2%0.004.2%
U S Physical Therapy Inc. USPH$1.3 billion95.877.2%9.4%11.3%0.492.1%
AdaptHealth Corp. AHCO$829 millionn/a-16.6%-4.5%-0.4%1.37n/a
3 companies share its SEC industry code (Services-Medical Laboratories); the rest are the names nearest in size in its wider industry, Healthcare, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20255 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 202512 May 2025EDGAR
10-K31 December 20243 March 2025EDGAR
10-Q30 September 20248 November 2024EDGAR
10-Q30 June 202412 August 2024EDGAR
10-Q31 March 202424 May 2024EDGAR

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install