Fortrea Holdings Inc. (FTRE) Financial Ratios
5 years of historical data (2021–2025) · Healthcare · Biotechnology
EV/EBITDA
↓
28.80
↓-14% vs avg
5yr avg: 33.40
30Y Low30.9·High35.9
P/FCF
↓
16.67
+2% vs avg
5yr avg: 16.35
30Y Low7.0·High24.2
P/B Ratio
↑
2.52
↑+30% vs avg
5yr avg: 1.94
30Y Low1.2·High2.8
ROE
↓
-102.4%
↑-341% vs avg
5yr avg: -23.2%
30Y Low-102%·High6%
Debt/EBITDA
↑
1.43
↓-61% vs avg
5yr avg: 3.70
30Y Low0.2·High12.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FTRE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Fortrea Holdings Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 16.7x P/FCF, roughly in line with the 5-year average of 16.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.6B | $1.7B | $3.1B | — | — |
| Enterprise Value | $1.4B | $1.5B | $2.7B | $4.7B | — | — |
| P/E Ratio → | -1.44 | — | — | — | — | — |
| P/S Ratio | 0.54 | 0.58 | 0.62 | 1.09 | — | — |
| P/B Ratio | 2.52 | 2.79 | 1.23 | 1.81 | — | — |
| P/FCF | 16.67 | 17.82 | 7.03 | 24.19 | — | — |
| P/OCF | 12.97 | 13.86 | 6.35 | 18.40 | — | — |
P/E links to full P/E history page with 30-year chart
FTRE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Fortrea Holdings Inc.'s enterprise value stands at 28.8x EBITDA, 14% below its 5-year average of 33.4x. The Healthcare sector median is 14.2x, placing the stock at a 103% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.54 | 1.02 | 1.64 | — | — |
| EV / EBITDA | 28.80 | 30.94 | — | 35.87 | — | — |
| EV / EBIT | — | — | — | 118.94 | — | — |
| EV / FCF | — | 16.61 | 11.59 | 36.40 | — | — |
FTRE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Fortrea Holdings Inc. earns an operating margin of -1.1%. Operating margins have compressed from 1.1% to -1.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -102.4% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | 15.6% | 15.6% | 19.8% | 20.8% | 25.5% | 19.8% |
| Operating Margin | -1.1% | -1.1% | -6.0% | 1.1% | 6.6% | 3.7% |
| Net Profit Margin | -36.2% | -36.2% | -12.2% | -0.9% | 6.6% | 3.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -102.4% | -102.4% | -21.4% | -1.0% | 5.6% | 3.0% |
| ROA | -31.3% | -31.3% | -8.3% | -0.6% | 4.3% | 2.2% |
| ROIC | -1.6% | -1.6% | -4.2% | 0.7% | 4.3% | 2.6% |
| ROCE | -1.4% | -1.4% | -5.2% | 0.9% | 5.2% | 3.2% |
FTRE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Fortrea Holdings Inc. carries a Debt/EBITDA ratio of 1.4x, which is manageable (55% below the sector average of 3.2x). The company holds a net cash position — cash of $175M exceeds total debt of $68M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.88 | 0.98 | 0.02 | 0.02 |
| Debt / EBITDA | 1.43 | 1.43 | — | 12.86 | 0.23 | 0.28 |
| Net Debt / Equity | — | -0.19 | 0.79 | 0.91 | -0.01 | -0.01 |
| Net Debt / EBITDA | -2.25 | -2.25 | — | 12.03 | -0.17 | -0.06 |
| Debt / FCF | — | -1.21 | 4.55 | 12.20 | -1.72 | -0.12 |
| Interest Coverage | -9.75 | -9.75 | -1.22 | 0.56 | 936.00 | 683.00 |
Net cash position: cash ($175M) exceeds total debt ($68M)
FTRE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.98x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.61x to 0.98x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.98 | 0.98 | 1.00 | 1.61 | 1.78 | 1.35 |
| Quick Ratio | 0.98 | 0.98 | 1.00 | 1.61 | 1.78 | 1.35 |
| Cash Ratio | 0.19 | 0.19 | 0.12 | 0.14 | 0.16 | 0.11 |
| Asset Turnover | — | 1.00 | 0.75 | 0.66 | 0.66 | 0.70 |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | 79.03 | 93.94 | 129.76 | 135.27 | 113.39 |
FTRE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Fortrea Holdings Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | 6.0% | 5.6% | 14.2% | 4.1% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $91M | $90M | $89M | $88M | $88M |
Peer Comparison
Compare FTRE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FTREYou | $1B | -1.4 | 28.8 | 16.7 | 15.6% | -1.1% | -102.4% | -1.6% | 1.4 |
 IQV | $28B | 21.4 | 12.4 | 13.9 | 26.3% | 14.0% | 21.4% | 8.7% | 4.7 |
 CRL | $9B | -62.4 | 12.7 | 16.9 | 30.5% | 12.6% | -4.3% | 6.3% | 3.4 |
 MEDP | $13B | 29.8 | 22.7 | 19.1 | 30.1% | 21.1% | 70.2% | 154.9% | 0.4 |
 PRA | $1B | 24.8 | 19.4 | — | 39.4% | 6.6% | 4.0% | 3.2% | 5.1 |
 ICLR | $11B | 48.5 | 9.8 | 12.5 | 26.4% | 12.3% | 2.5% | 6.2% | 2.5 |
 LH | $21B | 24.3 | 12.6 | 17.4 | 26.8% | 10.9% | 10.5% | 7.8% | 3.3 |
 DGX | $21B | 22.1 | 12.9 | 15.8 | 31.9% | 14.5% | 14.0% | 8.8% | 3.2 |
 NVCR | $2B | -11.2 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 HIMS | $7B | 65.8 | 52.5 | 99.6 | 73.8% | 4.5% | 25.2% | 8.6% | 7.9 |
 TMO | $172B | 26.2 | 18.7 | 27.4 | 37.7% | 18.2% | 13.1% | 7.5% | 3.8 |
| Healthcare Median | — | 22.1 | 14.2 | 18.4 | 63.9% | -4.4% | -33.2% | -11.7% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 5 years · Updated daily
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FTRE — Frequently Asked Questions
Quick answers to the most common questions about buying FTRE stock.
What is Fortrea Holdings Inc.'s P/E ratio?
Fortrea Holdings Inc.'s current P/E ratio is -1.4x. This places it at the 50th percentile of its historical range.
What is Fortrea Holdings Inc.'s EV/EBITDA?
Fortrea Holdings Inc.'s current EV/EBITDA is 28.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 33.4x.
What is Fortrea Holdings Inc.'s ROE?
Fortrea Holdings Inc.'s return on equity (ROE) is -102.4%. The historical average is -23.2%.
Is FTRE stock overvalued?
Based on historical data, Fortrea Holdings Inc. is trading at a P/E of -1.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Fortrea Holdings Inc.'s profit margins?
Fortrea Holdings Inc. has 15.6% gross margin and -1.1% operating margin.
How much debt does Fortrea Holdings Inc. have?
Fortrea Holdings Inc.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.