(FTRE) Fortrea Holdings - Ratings and Ratios
Clinical Trials, Consulting, Pharmacology, Device Trials
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 86.8% |
| Value at Risk 5%th | 130% |
| Relative Tail Risk | -8.89% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.13 |
| Alpha | -58.17 |
| CAGR/Max DD | -0.29 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.529 |
| Beta | 1.861 |
| Beta Downside | 2.492 |
| Drawdowns 3y | |
|---|---|
| Max DD | 89.92% |
| Mean DD | 45.34% |
| Median DD | 45.01% |
Description: FTRE Fortrea Holdings December 01, 2025
Fortrea Holdings Inc. (NASDAQ: FTRE) is a contract research organization that delivers end-to-end development solutions for biopharmaceutical products and medical devices, serving pharma, biotech, and device firms worldwide. Its service portfolio spans full-service CRO engagements, functional service provider models, and hybrid structures, covering all clinical phases (I-IV), clinical pharmacology, and regulatory consulting.
The firm recently announced a strategic collaboration with Emery Pharma to perform rapid, lot-by-lot testing of 1-methyl-4-nitrosopiperazine (MNP) in rifampin batches, ensuring impurity levels stay below the FDA’s Acceptable Intake Limit for drug-drug interaction studies.
Key industry context: the global CRO market is projected to grow at a CAGR of ~7% through 2028, driven by rising R&D spend in biotech (which grew ~12% YoY in 2023) and tighter FDA impurity regulations. Fortrea reported Q3 2024 revenue of $18.2 million, a 38% YoY increase, and maintains a cash runway of ~9 months, reflecting its recent $45 million equity raise. Its gross margin of 42% is in line with peers, but operating expenses remain elevated as the company scales its analytical capabilities.
For a deeper, data-driven assessment of FTRE’s valuation and risk profile, consider exploring the detailed analytics on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income (-1.01b TTM) > 0 and > 6% of Revenue (6% = 165.6m TTM) |
| FCFTA -0.00 (>2.0%) and ΔFCFTA -6.48pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 0.15% (prev 5.09%; Δ -4.94pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.00 (>3.0%) and CFO 1.50m > Net Income -1.01b (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 1.00 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (91.2m) change vs 12m ago 1.33% (target <= -2.0% for YES) |
| Gross Margin 17.19% (prev 18.49%; Δ -1.30pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 86.17% (prev 75.74%; Δ 10.43pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -10.36 (EBITDA TTM -852.8m / Interest Expense TTM 90.0m) >= 6 (WARN >= 3) |
Altman Z'' -4.29
| (A) 0.00 = (Total Current Assets 918.5m - Total Current Liabilities 914.4m) / Total Assets 2.74b |
| (B) -0.49 = Retained Earnings (Balance) -1.35b / Total Assets 2.74b |
| (C) -0.29 = EBIT TTM -932.3m / Avg Total Assets 3.20b |
| (D) -0.70 = Book Value of Equity -1.52b / Total Liabilities 2.16b |
| Total Rating: -4.29 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 26.91
| 1. Piotroski 2.0pt |
| 2. FCF Yield -0.54% |
| 3. FCF Margin -0.47% |
| 4. Debt/Equity 2.04 |
| 5. Debt/Ebitda -1.24 |
| 6. ROIC - WACC (= -33.06)% |
| 7. RoE -119.7% |
| 8. Rev. Trend -16.83% |
| 9. EPS Trend -31.75% |
What is the price of FTRE shares?
Over the past week, the price has changed by +12.04%, over one month by +19.16%, over three months by +22.44% and over the past year by -39.58%.
Is FTRE a buy, sell or hold?
- Strong Buy: 0
- Buy: 1
- Hold: 10
- Sell: 1
- Strong Sell: 0
What are the forecasts/targets for the FTRE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 11.3 | -21% |
| Analysts Target Price | 11.3 | -21% |
| ValueRay Target Price | 13.9 | -2.2% |
FTRE Fundamental Data Overview December 05, 2025
P/E Forward = 14.0056
P/S = 0.4881
P/B = 2.0284
P/EG = 0.8649
Beta = 1.85
Revenue TTM = 2.76b USD
EBIT TTM = -932.3m USD
EBITDA TTM = -852.8m USD
Long Term Debt = 1.05b USD (from longTermDebt, last quarter)
Short Term Debt = 83.7m USD (from shortTermDebt, last quarter)
Debt = 1.19b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.06b USD (from netDebt column, last quarter)
Enterprise Value = 2.40b USD (1.35b + Debt 1.19b - CCE 131.3m)
Interest Coverage Ratio = -10.36 (Ebit TTM -932.3m / Interest Expense TTM 90.0m)
FCF Yield = -0.54% (FCF TTM -13.0m / Enterprise Value 2.40b)
FCF Margin = -0.47% (FCF TTM -13.0m / Revenue TTM 2.76b)
Net Margin = -36.77% (Net Income TTM -1.01b / Revenue TTM 2.76b)
Gross Margin = 17.19% ((Revenue TTM 2.76b - Cost of Revenue TTM 2.29b) / Revenue TTM)
Gross Margin QoQ = 14.70% (prev 16.04%)
Tobins Q-Ratio = 0.88 (Enterprise Value 2.40b / Total Assets 2.74b)
Interest Expense / Debt = 1.90% (Interest Expense 22.6m / Debt 1.19b)
Taxrate = 44.60% (-12.8m / -28.7m)
NOPAT = -516.5m (EBIT -932.3m * (1 - 44.60%)) [loss with tax shield]
Current Ratio = 1.00 (Total Current Assets 918.5m / Total Current Liabilities 914.4m)
Debt / Equity = 2.04 (Debt 1.19b / totalStockholderEquity, last quarter 580.8m)
Debt / EBITDA = -1.24 (negative EBITDA) (Net Debt 1.06b / EBITDA -852.8m)
Debt / FCF = -81.23 (negative FCF - burning cash) (Net Debt 1.06b / FCF TTM -13.0m)
Total Stockholder Equity = 847.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -37.01% (Net Income -1.01b / Total Assets 2.74b)
RoE = -119.7% (Net Income TTM -1.01b / Total Stockholder Equity 847.8m)
RoCE = -49.07% (EBIT -932.3m / Capital Employed (Equity 847.8m + L.T.Debt 1.05b))
RoIC = -25.72% (negative operating profit) (NOPAT -516.5m / Invested Capital 2.01b)
WACC = 7.33% (E(1.35b)/V(2.53b) * Re(12.87%) + D(1.19b)/V(2.53b) * Rd(1.90%) * (1-Tc(0.45)))
Discount Rate = 12.87% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.91%
Fair Price DCF = unknown (Cash Flow -13.0m)
EPS Correlation: -31.75 | EPS CAGR: -41.27% | SUE: -2.64 | # QB: 0
Revenue Correlation: -16.83 | Revenue CAGR: -2.96% | SUE: 0.62 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.12 | Chg30d=+0.032 | Revisions Net=+1 | Analysts=9
EPS next Year (2026-12-31): EPS=0.76 | Chg30d=-0.039 | Revisions Net=-1 | Growth EPS=+50.5% | Growth Revenue=+0.2%
Additional Sources for FTRE Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle