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Stocks · Health care · Services-Medical Laboratories

Fortrea Holdings Inc.

FTRE Clue Score23
United States Fiscal year ends December CIK 0001965040
$20.84 +2.31% Close, 9 Oct 2026
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Price $20.84 −25.57% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 7 Jul 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue3,057.5Operating income114.3Net income98.0EPS, diluted1.10Fiscal year 2022Revenue2,837.0 −7.2%Operating income187.1Net income186.2 +90.0%EPS, diluted2.09 +90.0%Fiscal year 2023Revenue2,842.5 +0.2%Operating income32.0Net income−25.2 −113.5%EPS, diluted−0.29 −113.9%Fiscal year 2024Revenue2,696.4 −5.1%Operating income−161.9Net income−328.5EPS, diluted−3.67Fiscal year 2025Revenue2,723.4 +1.0%Operating income−872.6Net income−986.2EPS, diluted−10.81
FY2021FY2022FY2023FY2024FY2025
Revenue 3,057.5 2,837.0 2,842.5 2,696.4 2,723.4
Growth −7.2% +0.2% −5.1% +1.0%
Operating income 114.3 187.1 32.0 −161.9 −872.6
Net income 98.0 186.2 −25.2 −328.5 −986.2
Growth +90.0% −113.5%
EPS, diluted 1.10 2.09 −0.29 −3.67 −10.81
Growth +90.0% −113.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2021Operating margin3.7%Net margin3.2%Free cash flow margin4.7%Fiscal year 2022Operating margin6.6%Net margin6.6%Free cash flow margin1.0%Fiscal year 2023Operating margin1.1%Net margin−0.9%Free cash flow margin4.5%Fiscal year 2024Operating margin−6.0%Net margin−12.2%Free cash flow margin8.8%Fiscal year 2025Operating margin−32.0%Net margin−36.2%Free cash flow margin3.2%
FY2021FY2022FY2023FY2024FY2025
Operating margin 3.7% 6.6% 1.1% −6.0% −32.0%
Net margin 3.2% 6.6% −0.9% −12.2% −36.2%
Free cash flow margin 4.7% 1.0% 4.5% 8.8% 3.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow169.8Capital expenditure−26.5Free cash flow143.3Fiscal year 2022Operating cash flow82.7Capital expenditure−54.4Free cash flow28.3 −80.3%Fiscal year 2023Operating cash flow168.4Capital expenditure−40.3Free cash flow128.1 +352.7%Fiscal year 2024Operating cash flow262.8Capital expenditure−25.5Free cash flow237.3 +85.2%Fiscal year 2025Operating cash flow113.5Capital expenditure−25.2Free cash flow88.3 −62.8%
FY2021FY2022FY2023FY2024FY2025
Operating cash flow 169.8 82.7 168.4 262.8 113.5
Capital expenditure −26.5 −54.4 −40.3 −25.5 −25.2
Free cash flow 143.3 28.3 128.1 237.3 88.3
Growth −80.3% +352.7% +85.2% −62.8%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash94.6Shareholders’ equity3,261.4Fiscal year 2022Cash112.0Total debt0.0Net cash (debt)112.0Shareholders’ equity3,340.0Debt to equity0.00Fiscal year 2023Cash108.6Total debt1,592.0Net cash (debt)−1,483.4Shareholders’ equity1,714.1Debt to equity0.93Fiscal year 2024Cash118.5Total debt1,124.5Net cash (debt)−1,006.0Shareholders’ equity1,362.4Debt to equity0.83Fiscal year 2025Cash174.6Total debt1,052.8Net cash (debt)−878.2Shareholders’ equity563.5Debt to equity1.87
FY2021FY2022FY2023FY2024FY2025
Cash 94.6 112.0 108.6 118.5 174.6
Total debt n/a 0.0 1,592.0 1,124.5 1,052.8
Net cash (debt) n/a 112.0 −1,483.4 −1,006.0 −878.2
Shareholders’ equity 3,261.4 3,340.0 1,714.1 1,362.4 563.5
Debt to equity n/a 0.00 0.93 0.83 1.87

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
3.7% 6.6% 1.1% −6.0% −32.0%
4.5% 6.6% −1.1% −10.2% −36.1%
3.2% 6.6% −0.9% −12.2% −36.2%
4.7% 1.0% 4.5% 8.8% 3.2%
Spending
9.9% 14.7% 15.8% 20.8% 16.8%
0.9% 1.9% 1.4% 0.9% 0.9%
28.2% 22.0% n/a n/a n/a
Returns
3.0% 5.6% −1.5% −24.1% −175.0%
n/a 4.3% −0.6% −9.2% −36.3%
Balance and payout
n/a 0.00 0.93 0.83 1.87
n/a 22.0% 60.4% 61.9% 79.3%