FTRE Stock Analysis: Fortrea Holdings | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 1.753m USD | 12M Return: 127.3% | US34965K1079 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 29.1M
Qual. Beats: 0
Rev. Trend: -42.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 3.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Fortrea Holdings Inc. is a contract research organization (CRO) that provides biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology, and medical device customers worldwide. The company offers a comprehensive suite of services spanning clinical pharmacology, full-phase clinical development (Phase I-IV), real-world evidence studies, regulatory affairs, bioanalytics, pharmacovigilance, and consulting services covering product development, market access, and outcomes research. Incorporated in 2023 and headquartered in Durham, North Carolina, Fortrea operates within the Health Care sector (Life Sciences Tools & Services sub-industry) and went public on NASDAQ in July 2023.
- Biotech funding weakness increases trial cancellations and delays
- Restructuring charges and transition costs pressure near-term margins
- Competition from IQVIA and ICON compresses pricing power
| Net Income: -85.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 9.18 > 1.0 |
| NWC/Revenue: -1.50% < 20% (prev 0.65%; Δ -2.15% < -1%) |
| CFO/TA 0.07 > 3% & CFO 182.4m > Net Income -85.2m |
| Net Debt (957.8m) to EBITDA (81.2m): 11.80 < 3 |
| Current Ratio: 0.96 > 1.5 & < 3 |
| Outstanding Shares: last quarter (94.3m) vs 12m ago 4.07% < -2% |
| Gross Margin: 17.11% > 18% (prev 19.01%; Δ -1.90% > 0.5%) |
| Asset Turnover: 96.45% > 50% (prev 96.42%; Δ 0.03% > 0%) |
| Interest Coverage Ratio: 0.03 > 6 (EBIT TTM 2.90m / Interest Expense TTM 84.0m) |
| A: -0.01 (Total Current Assets 923.6m - Total Current Liabilities 963.7m) / Total Assets 2.71b |
| B: -0.52 (Retained Earnings -1.42b / Total Assets 2.71b) |
| C: 0.00 (EBIT TTM 2.90m / Avg Total Assets 2.77b) |
| D: 0.24 (Book Value of Equity 524.2m / Total Liabilities 2.19b) |
| Altman-Z'' = -1.54 = D |
| DSRI: 0.90 (Receivables 654.4m/739.2m, Revenue 2.68b/2.73b) |
| GMI: 1.11 (GM 19.01% / 17.11%) |
| AQI: 0.99 (AQ_t 0.60 / AQ_t-1 0.61) |
| SGI: 0.98 (Revenue 2.68b / 2.73b) |
| TATA: -0.10 (NI -85.2m - CFO 182.4m) / TA 2.71b) |
| Beneish M = -3.04 (Cap -4..+1) = AA |
As of August 14, 2026, the stock is trading at USD 17.82 with a total of 1,284,805 shares traded. Over the past week, the price has changed by +0.73%, over one month by -0.22%, over three months by +23.15% and over the past year by +127.30%.
Current recommended Stop Loss: 15.20 (which is 14.7% or 2.2 ATR below the current price).
Fortrea Holdings has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold FTRE.
- StrongBuy: 0
- Buy: 1
- Hold: 10
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 20.6 | 15.3% |
P/E Forward = 13.1234
P/S = 0.6548
P/B = 3.3436
P/EG = 0.3442
Revenue TTM = 2.68b USD
EBIT TTM = 2.90m USD
EBITDA TTM = 81.2m USD
Long Term Debt = 1.04b USD (from longTermDebt, last quarter)
Short Term Debt = 26.0m USD (from shortTermDebt, last quarter)
Debt = 1.13b USD (corrected: LT Debt 1.04b + ST Debt 26.0m) + Leases 63.2m
Net Debt = 957.8m USD (calculated: Debt 1.13b - CCE 168.6m)
Enterprise Value = 2.71b USD (1.75b + Debt 1.13b - CCE 168.6m)
Interest Coverage Ratio = 0.03 (Ebit TTM 2.90m / Interest Expense TTM 84.0m)
EV/FCF = 18.00x (Enterprise Value 2.71b / FCF TTM 150.6m)
FCF Yield = 5.56% (FCF TTM 150.6m / Enterprise Value 2.71b)
FCF Margin = 5.63% (FCF TTM 150.6m / Revenue TTM 2.68b)
Net Margin = -3.18% (Net Income TTM -85.2m / Revenue TTM 2.68b)
Gross Margin = 17.11% ((Revenue TTM 2.68b - Cost of Revenue TTM 2.22b) / Revenue TTM)
Gross Margin QoQ = 20.52% (prev 16.31%)
Tobins Q-Ratio = 1.00 (Enterprise Value 2.71b / Total Assets 2.71b)
Interest Expense / Debt = 7.46% (Interest Expense 84.0m / Debt 1.13b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 2.29m (EBIT 2.90m * (1 - 21.00%))
Current Ratio = 0.96 (Total Current Assets 923.6m / Total Current Liabilities 963.7m)
Debt / Equity = 2.15 (Debt 1.13b / totalStockholderEquity, last quarter 524.2m)
Debt / EBITDA = 11.80 (Net Debt 957.8m / EBITDA 81.2m)
Debt / FCF = 6.36 (Net Debt 957.8m / FCF TTM 150.6m)
Total Stockholder Equity = 548.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.07% (Net Income -85.2m / Total Assets 2.71b)
RoE = -15.53% (Net Income TTM -85.2m / Total Stockholder Equity 548.6m)
RoCE = 0.18% (EBIT 2.90m / Capital Employed (Equity 548.6m + L.T.Debt 1.04b))
RoIC = 0.14% (NOPAT 2.29m / Invested Capital 1.64b)
WACC = 9.77% (E(1.75b)/V(2.88b) * Re(12.26%) + D(1.13b)/V(2.88b) * Rd(7.46%) * (1-Tc(0.21)))
Discount Rate = 12.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.72 | Cagr: 2.49%
[DCF] Terminal Value 70.62% ; FCFF base≈150.6m ; Y1≈151.2m ; Y5≈160.2m
[DCF] Fair Price = 11.03 (EV 2.01b - Net Debt 957.8m = Equity 1.05b / Shares 95.1m; r=9.77% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.47 | # QB: 0
Revenue Correlation: -42.55 | Revenue CAGR: -1.39% | SUE: 0.84 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.21 | Chg30d=+2.47% | Revisions=-25% | Analysts=10
EPS current Year (2026-12-31): EPS=0.84 | Chg30d=+4.20% | Revisions=+25% | GrowthEPS=+95.5% | GrowthRev=-2.2%
EPS next Year (2027-12-31): EPS=1.14 | Chg30d=+5.78% | Revisions=+25% | GrowthEPS=+35.5% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: +17% (up=2, down=1)