Fortrea Holdings Inc.

Fortrea Holdings Inc.

FTRE · NASDAQ · Healthcare / Biotechnology

20.20USD+0.14 (+0.70%)

Price History

Full chart

Market Stats

Previous Close20.06
Open20.13
Day Range19.50 – 20.43
52-Week Range8.31 – 21.39
Volume1.96M
Market Cap1.89B
P/E (TTM)0.00
Forward P/E12.14
EPS-0.83
Dividend Yield0.00%
Beta1.95
50-Day Avg18.62
200-Day Avg15.05

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.

Company Details

  • SectorHealthcare
  • IndustryBiotechnology
  • CEOMr. Anshul Thakral
  • Employees14.00K
  • Headquarters8 Moore Drive, Durham, NC, United States, 27709, USA
  • Websitehttps://www.fortrea.com

Leadership

  • Mr. Anshul ThakralCEO & Director · b. 1978
  • Mr. David Ross SmithInterim CFO, Principal Financial Officer & Independent Director · b. 1966
  • Mr. Mark A. MoraisCOO & President of Clinical Services · b. 1977
  • Ms. Jill McConnellExecutive Officer · b. 1974
  • Mr. Drayton VirklerPresident & Chief Commercial Officer
  • Ms. Carrie RussellVP of Accounting & Interim Chief Accounting Officer
  • Mr. Alejandro Martinez GalindoChief Information Officer
  • Mr. Dave CooperChief Administrative Officer
  • Ms. Tracy H. KrummeSenior VP of Investor Relations · b. 1968
  • Ms. Agnieszka M. Gallagher J.D.General Counsel & Corporate Secretary · b. 1974

Financials

Income Statement

Currency: USD2020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue2.58B3.06B2.84B2.84B2.70B2.72B
Growth (%)-+18.49%-7.21%+0.19%-5.14%+1.00%
Cost of Revenue2.09B2.45B2.11B2.25B2.16B2.30B
Gross Profit489.10M604.40M724.40M590.60M534.20M425.80M
Gross Margin18.96%19.77%25.53%20.78%19.81%15.63%
Operating Expense803.30M490.10M537.30M558.60M696.10M456.40M
Operating Income-314.20M114.30M187.10M32.00M-161.90M-30.60M
Operating Margin-12.18%3.74%6.59%1.13%-6.00%-1.12%
EBITDA221.50M302.90M280.80M137.20M-64.30M-813.60M
EBITDA Margin8.58%9.91%9.90%4.83%-2.38%-29.87%
Net Income-359.20M98.00M186.20M-25.20M-328.50M-986.20M
Net Income Margin-13.92%3.21%6.56%-0.89%-12.18%-36.21%
Interest Expense-200.00K200.00K69.80M123.80M91.40M
Interest Expense % of Total Revenue-0.01%0.01%2.46%4.59%3.36%

Balance Sheet

Currency: USD2020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets-4.37B4.29B4.33B3.58B2.72B
Total Liabilities-1.11B945.30M2.62B2.22B2.15B
Total Equity-3.26B3.34B1.71B1.36B563.50M
Cash-94.60M112.00M108.60M118.50M174.60M
Total Debt-77.20M63.40M1.67B1.20B1.12B
Net Debt--17.40M-48.60M1.56B1.08B941.40M

Cash Flow

Currency: USD2020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow200.90M169.80M82.70M168.40M262.80M113.50M
Investing Cash Flow-161.20M-26.20M-54.00M-31.80M251.60M14.40M
Financing Cash Flow-33.10M-128.50M-6.30M-140.80M-497.80M-76.30M
Capital Expenditure24.00M26.50M54.40M40.30M25.50M25.20M
Free Cash Flow176.90M143.30M28.30M128.10M237.30M88.30M
FCF to OCF88.05%84.39%34.22%76.07%90.30%77.80%

Earnings

Report DateMay 31, 2023Aug 14, 2023Nov 13, 2023Mar 11, 2024May 13, 2024Aug 12, 2024Nov 8, 2024Mar 10, 2025May 12, 2025Aug 6, 2025Nov 5, 2025Feb 26, 2026May 5, 2026Jul 29, 2026Nov 4, 2026
EPS Estimate0.000.390.160.240.010.060.250.37-0.070.080.160.160.050.180.23
EPS Actual0.450.520.240.19-0.04-0.030.230.180.020.190.120.090.160.23-
Surprise-33.33%50.00%-20.83%-500.00%-150.00%-8.00%-50.73%128.57%137.50%-25.00%-43.75%220.00%27.78%-
Timing-Pre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-market-Pre-marketPre-market-

Key Statistics & Ratios

Market Cap1.89B
Enterprise Value2.81B
Trailing P/E0.00
Forward P/E12.14
PEG Ratio0.34
Price / Sales0.71
Price / Book3.54
EPS-0.83
Book Value5.51
Revenue (TTM)2.68B
Gross Profit (TTM)516.60M
EBITDA98.30M
Profit Margin-3.18%
Operating Margin2.58%
Return on Equity-15.30%
Return on Assets0.58%
Shares Outstanding95.10M
Shares Float93.98M
Beta1.95
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Analyst Ratings

Hold
Based on 12 analystsTarget 20.55
  • Buy
    1
  • Hold
    10
  • Sell
    1

Ownership Breakdown

Institutions
110.03%
Insiders
1.23%
Retail / Other
0.00%

Top Institutional Holders

  • BlackRock Inc
    15.15M15.93%
  • The Goldman Sachs Group Inc
    8.10M8.52%
  • Corvex Management LP
    4.64M4.88%
  • Sessa Capital, L.P
    4.59M4.83%
  • State Street Corp
    4.11M4.32%
  • Vanguard Capital Management, LLC
    4.04M4.25%
  • Vanguard Portfolio Management, LLC
    3.70M3.89%
  • AQR Capital Management LLC
    3.30M3.47%
  • Charles Schwab Investment Management Inc
    3.21M3.37%
  • Deutsche Bank AG
    2.57M2.70%
  • Loomis, Sayles & Company LP
    2.44M2.57%
  • Wellington Management Company LLP
    2.38M2.51%
  • Geode Capital Management, LLC
    2.37M2.49%
  • Morgan Stanley - Brokerage Accounts
    2.30M2.42%
  • Park West Asset Management LLC
    2.26M2.37%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    5.77M6.07%
  • Vanguard MStar Total Stk Mkt Idx Invest
    3.00M3.15%
  • iShares Russell 2000 ETF
    2.45M2.58%
  • Fidelity Value
    2.29M2.41%
  • Xtrackers MSCI World Swap ETF 1C
    2.22M2.33%