FTRE
Fortrea Holdings Inc.
Biotechnology
Market Cap$1.47B
5Y Perf.-54.2%
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Stock Comparison
FTRE vs ICLR
Revenue, margins, valuation, and 5-year total return — side by side.
ICLR
ICON Public Limited Company
Medical - Diagnostics & Research
Market Cap$9.54B
5Y Perf.-50.0%
FTRE vs ICLR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | FTRE | ICLR |
|---|---|---|
| Industry | Biotechnology | Medical - Diagnostics & Research |
| Market Cap | $1.47B | $9.54B |
| Revenue (TTM) | $2.71B | $8.10B |
| Net Income (TTM) | $-447M | $599M |
| Gross Margin | 12.1% | 26.9% |
| Operating Margin | -1.1% | 12.2% |
| Forward P/E | 23.0x | 10.5x |
| Total Debt | $68M | $3.60B |
| Cash & Equiv. | $175M | $539M |
FTRE vs ICLR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
FTRE
ICLR
| Stock | Jun 23 | May 26 | Return |
|---|---|---|---|
| Fortrea Holdings In… (FTRE) | 100 | 45.8 | -54.2% |
| ICON Public Limited… (ICLR) | 100 | 50.0 | -50.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FTRE vs ICLR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: ICLR leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Fortrea Holdings Inc. is the stronger pick specifically for recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
FTRE
Fortrea Holdings Inc.
The Momentum Pick
FTRE is the clearest fit if your priority is momentum.
- +176.6% vs ICLR's -10.0%
Best for: momentum
ICLR
ICON Public Limited Company
The Income Pick
ICLR carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- beta 1.60
- Rev growth 2.0%, EPS growth 28.8%, 3Y rev CAGR 14.8%
- 91.0% 10Y total return vs FTRE's -51.3%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | ICLR | 2.0% revenue growth vs FTRE's 1.0% |
| Value | ICLR | Lower P/E (10.5x vs 23.0x) |
| Quality / Margins | ICLR | 7.4% margin vs FTRE's -16.5% |
| Stability / Safety | ICLR | Beta 1.60 vs FTRE's 2.35 |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | FTRE | +176.6% vs ICLR's -10.0% |
| Efficiency (ROA) | ICLR | 3.6% ROA vs FTRE's -16.3%, ROIC 6.5% vs -1.6% |
FTRE vs ICLR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2012
FTRE vs ICLR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLICLRLAGGINGFTRE
FTREFortrea Holdings Inc.
0leads
ICLRICON Public Limited C…
4leads
6 Total Categories
CATEGORYLEADERvs FTREMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ICLR5/6
Valuation MetricsMultiples, price ratios, and targets
ICLR4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ICLR6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
ICLR4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
ICLR leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ICLR is the larger business by revenue, generating $8.1B annually — 3.0x FTRE's $2.7B. ICLR is the more profitable business, keeping 7.4% of every revenue dollar as net income compared to FTRE's -16.5%.
| Metric | FTREFortrea Holdings … | ICLRICON Public Limit… |
|---|---|---|
| RevenueTrailing 12 months | $2.7B | $8.1B |
| EBITDAEarnings before interest/tax | $48M | $1.4B |
| Net IncomeAfter-tax profit | -$447M | $599M |
| Free Cash FlowCash after capex | $215M | $996M |
| Gross MarginGross profit ÷ Revenue | +12.1% | +26.9% |
| Operating MarginEBIT ÷ Revenue | -1.1% | +12.2% |
| Net MarginNet income ÷ Revenue | -16.5% | +7.4% |
| FCF MarginFCF ÷ Revenue | +8.0% | +12.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | -2.3% | +0.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +95.9% | -98.7% |
ICLR leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
ICLR leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, ICLR's 7.9x EV/EBITDA is more attractive than FTRE's 28.8x.
| Metric | FTREFortrea Holdings … | ICLRICON Public Limit… |
|---|---|---|
| Market CapShares × price | $1.5B | $9.5B |
| Enterprise ValueMkt cap + debt − cash | $1.4B | $12.6B |
| Trailing P/EPrice ÷ TTM EPS | -1.44x | 13.12x |
| Forward P/EPrice ÷ next-FY EPS est. | 23.00x | 10.53x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.87x |
| EV / EBITDAEnterprise value multiple | 28.82x | 7.95x |
| Price / SalesMarket cap ÷ Revenue | 0.54x | 1.15x |
| Price / BookPrice ÷ Book value/share | 2.52x | 1.09x |
| Price / FCFMarket cap ÷ FCF | 16.68x | 8.53x |
ICLR leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
ICLR leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
ICLR delivers a 6.3% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-79 for FTRE. FTRE carries lower financial leverage with a 0.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to ICLR's 0.38x. On the Piotroski fundamental quality scale (0–9), ICLR scores 7/9 vs FTRE's 4/9, reflecting strong financial health.
| Metric | FTREFortrea Holdings … | ICLRICON Public Limit… |
|---|---|---|
| ROE (TTM)Return on equity | -79.1% | +6.3% |
| ROA (TTM)Return on assets | -16.3% | +3.6% |
| ROICReturn on invested capital | -1.6% | +6.5% |
| ROCEReturn on capital employed | -1.4% | +7.8% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 |
| Debt / EquityFinancial leverage | 0.12x | 0.38x |
| Net DebtTotal debt minus cash | -$107M | $3.1B |
| Cash & Equiv.Liquid assets | $175M | $539M |
| Total DebtShort + long-term debt | $68M | $3.6B |
| Interest CoverageEBIT ÷ Interest expense | -7.33x | 3.96x |
ICLR leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
ICLR leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in ICLR five years ago would be worth $5,463 today (with dividends reinvested), compared to $4,866 for FTRE. Over the past 12 months, FTRE leads with a +176.6% total return vs ICLR's -10.0%. The 3-year compound annual growth rate (CAGR) favors ICLR at -13.0% vs FTRE's -21.3% — a key indicator of consistent wealth creation.
| Metric | FTREFortrea Holdings … | ICLRICON Public Limit… |
|---|---|---|
| YTD ReturnYear-to-date | -7.4% | -33.7% |
| 1-Year ReturnPast 12 months | +176.6% | -10.0% |
| 3-Year ReturnCumulative with dividends | -51.3% | -34.1% |
| 5-Year ReturnCumulative with dividends | -51.3% | -45.4% |
| 10-Year ReturnCumulative with dividends | -51.3% | +91.0% |
| CAGR (3Y)Annualised 3-year return | -21.3% | -13.0% |
ICLR leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — FTRE and ICLR each lead in 1 of 2 comparable metrics.
Risk & Volatility
ICLR is the less volatile stock with a 1.60 beta — it tends to amplify market swings less than FTRE's 2.35 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FTRE currently trades 83.4% from its 52-week high vs ICLR's 59.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FTREFortrea Holdings … | ICLRICON Public Limit… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.35x | 1.60x |
| 52-Week HighHighest price in past year | $18.67 | $211.00 |
| 52-Week LowLowest price in past year | $3.97 | $66.57 |
| % of 52W HighCurrent price vs 52-week peak | +83.4% | +59.2% |
| RSI (14)Momentum oscillator 0–100 | 82.8 | 62.1 |
| Avg Volume (50D)Average daily shares traded | 1.4M | 1.1M |
Evenly matched — FTRE and ICLR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates FTRE as "Hold" and ICLR as "Buy". Consensus price targets imply 20.9% upside for FTRE (target: $19) vs 19.7% for ICLR (target: $150).
| Metric | FTREFortrea Holdings … | ICLRICON Public Limit… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $18.83 | $149.63 |
| # AnalystsCovering analysts | 12 | 30 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +5.2% |
Insufficient data to determine a leader in this category.
Key Takeaway
ICLR leads in 4 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 1 category is tied.
Best OverallICON Public Limited Company (ICLR)Leads 4 of 6 categories
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FTRE vs ICLR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is FTRE or ICLR a better buy right now?
For growth investors, ICON Public Limited Company (ICLR) is the stronger pick with 2.
0% revenue growth year-over-year, versus 1. 0% for Fortrea Holdings Inc. (FTRE). ICON Public Limited Company (ICLR) offers the better valuation at 13. 1x trailing P/E (10. 5x forward), making it the more compelling value choice. Analysts rate ICON Public Limited Company (ICLR) a "Buy" — based on 30 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FTRE or ICLR?
On forward P/E, ICON Public Limited Company is actually cheaper at 10.
5x.
03Which is the better long-term investment — FTRE or ICLR?
Over the past 5 years, ICON Public Limited Company (ICLR) delivered a total return of -45.
4%, compared to -51. 3% for Fortrea Holdings Inc. (FTRE). Over 10 years, the gap is even starker: ICLR returned +91. 0% versus FTRE's -51. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FTRE or ICLR?
By beta (market sensitivity over 5 years), ICON Public Limited Company (ICLR) is the lower-risk stock at 1.
60β versus Fortrea Holdings Inc. 's 2. 35β — meaning FTRE is approximately 47% more volatile than ICLR relative to the S&P 500. On balance sheet safety, Fortrea Holdings Inc. (FTRE) carries a lower debt/equity ratio of 12% versus 38% for ICON Public Limited Company — giving it more financial flexibility in a downturn.
05Which is growing faster — FTRE or ICLR?
By revenue growth (latest reported year), ICON Public Limited Company (ICLR) is pulling ahead at 2.
0% versus 1. 0% for Fortrea Holdings Inc. (FTRE). On earnings-per-share growth, the picture is similar: ICON Public Limited Company grew EPS 28. 8% year-over-year, compared to -194. 6% for Fortrea Holdings Inc.. Over a 3-year CAGR, ICLR leads at 14. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — FTRE or ICLR?
ICON Public Limited Company (ICLR) is the more profitable company, earning 9.
6% net margin versus -36. 2% for Fortrea Holdings Inc. — meaning it keeps 9. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ICLR leads at 13. 3% versus -1. 1% for FTRE. At the gross margin level — before operating expenses — ICLR leads at 29. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is FTRE or ICLR more undervalued right now?
On forward earnings alone, ICON Public Limited Company (ICLR) trades at 10.
5x forward P/E versus 23. 0x for Fortrea Holdings Inc. — 12. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FTRE: 20. 9% to $18. 83.
08Which pays a better dividend — FTRE or ICLR?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is FTRE or ICLR better for a retirement portfolio?
For long-horizon retirement investors, ICON Public Limited Company (ICLR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding.
Fortrea Holdings Inc. (FTRE) carries a higher beta of 2. 35 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (ICLR: +91. 0%, FTRE: -51. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between FTRE and ICLR?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: FTRE is a small-cap quality compounder stock; ICLR is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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