# Fortrea Holdings Inc. (FTRE) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Healthcare / Biotechnology. Price $20.95, market value $2.0 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Fortrea Holdings Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.8×**. Each dollar of revenue is priced at 0.8×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 3.8×**. The shares trade at 3.8× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 31.7×**. Enterprise value is 31.7× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 8.4%** (5-yr avg 9.2%). Free cash flow equals 8.4% of the market value, in line with its five-year average of 9.2%. Above 5% is generally attractive.

## Profitability
- **Operating margin: 0.5%**. 0.5% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: -36.2%**. The company reported a net loss over the last twelve months.
- **Return on equity: -175.0%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 0.7%**. Return on all capital, debt included, is 0.7%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -2.5%**. Each dollar of assets produces -2.5% of profit.

## Growth
- **Revenue growth (1 yr): 1.0%** (3-yr -1.4%/yr). Revenue grew 1.0% over the last year.
- **EPS growth (1 yr): -194.6%**. Earnings per share fell 194.6%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 46.1%/yr**. Free cash flow has compounded at 46.1% a year over three years.

## Financial health
- **Debt to equity: 1.87**. Debt is 1.87 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 9.6×**. It would take 9.6 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Current ratio: 0.98** (quick 0.98). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 0.79**. A Z-score of 0.79 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Fortrea Holdings Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (12 analysts). 12 analysts cover Fortrea Holdings Inc.; the consensus is buy, with an average price target of $23.63 (+13% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 91.4%** (YTD 16.1%, 3-mo 5.7%). The shares are up 91.4% over twelve months including dividends.
- **From 52-week high: -19.9%** (145.0% above the low). Trading 20% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 2.12** (volatility 72%). Beta of 2.12 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FTRE · Page: https://foliofundamentals.com/stocks/ftre

Not investment advice.