FTRENasdaqServices-Medical LaboratoriesFiscal year ends December 31
Fortrea Holdings Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$22.42−0.07 (-0.31%)
Close on Oct 19, 2026
- Market cap
- $2.13B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
18.5%
Operating margin
-32.0%
Net margin
-36.2%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.0% | -1.4% | – | – | |
| Gross profit | -5.7% | -11.4% | – | – | |
| Free cash flow | -62.8% | +46.1% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -102.4% | |
| Return on assets | – | – | -31.3% | |
| Current ratio | – | – | 0.98 | |
| Debt to equity | – | – | 1.87 | |
| Net debt to EBITDA | – | – | -1.11× | |
| Interest coverage | – | – | – | |
| Capex to revenue | – | – | 0.9% | |
| Diluted shares | – | – | – |
Where the cash went
Fiscal 2021 to 2025, five years combined
Fortrea generated $797.20M from operations and spent $171.90M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$797.20M
Used
$171.90M
Capital expenditure$171.90M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-36.2%
×Asset turnover0.87×
×Equity multiplier3.27×
=Return on equity, FY2025-102.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -36.2% | 0.87× | 3.27× | -102.4% |
| FY2024 | -12.2% | 0.68× | 2.57× | -21.4% |
| FY2023 | -0.9% | 0.66× | 1.71× | -1.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$986.20M
- Cash generatingOperating cash flow above zero$113.50M
- Return on assets improvedROA up on the prior year-7.6% → -27.6%
- Earnings backed by cashOperating cash flow above net income$113.50M vs -$986.20M
- Less leverageLong-term debt to assets fell29.3% → 38.6%
- Better liquidityCurrent ratio rose1.00 → 0.98
- No dilutionShare count did not rise90M → –
- Gross margin improvedGross margin up on the prior year19.81% → 18.50%
- More efficientAsset turnover rose0.62 → 0.76