FTRE - Fortrea Holdings Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$18.57
DETAILS
HIGH:
$25.00
LOW:
$14.00
MEDIAN:
$19.00
CONSENSUS:
$18.57
UPSIDE:
40.47%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 2,723.4 | 2,696.4 | 2,842.5 | 2,837 | 3,057.5 | 2,580.3 |
| Cost of Revenue | 2,297.6 | 2,162.2 | 2,251.9 | 2,112.6 | 2,453.1 | 2,091.2 |
| Gross Profit | 425.8 | 534.2 | 590.6 | 724.4 | 604.4 | 489.1 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 456.4 | 560.7 | 448.1 | 416.1 | 303.1 | 267.6 |
| Other Expenses | 0 | 135.4 | 110.5 | 121.2 | 187 | 535.7 |
| Operating Expenses | 456.4 | 696.1 | 558.6 | 537.3 | 490.1 | 803.3 |
| Operating Income | ||||||
| Operating Income | (30.6) | (161.9) | 32 | 187.1 | 114.3 | (314.2) |
| Interest Expense | 91.4 | 123.8 | 69.8 | 0.2 | 0.2 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | ||||||
| EBITDA | (813.6) | (64.3) | 137.2 | 280.8 | 302.9 | 221.5 |
| EBIT | (891.6) | (151.2) | 39.2 | 187.2 | 136.6 | 102.5 |
| Income Before Tax | (983) | (275) | (30.5) | 187 | 136.4 | (332.2) |
| Income Tax Expense | 3.2 | (3.5) | 1.2 | 41.1 | 38.4 | 27 |
| Net Income | (986.2) | (328.5) | (25.2) | 186.2 | 98 | (359.2) |
| Per Share Data | ||||||
| EPS (Basic) | -10.81 | -3.67 | -0.04 | 2.11 | 1.11 | -4.06 |
| EPS (Diluted) | -10.81 | -3.67 | -0.04 | 2.11 | 1.11 | -4.06 |
| Shares Outstanding | 91.2 | 89.5 | 88.8 | 88.4 | 88.4 | 88.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash & Cash Equivalents | 174.6 | 118.5 | 108.6 | 112 | 94.6 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 589.7 | 694 | 1,010.5 | 1,051.4 | 949.8 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 132.9 | 77.2 | 97.6 | 50.8 | 73.1 |
| Total Current Assets | 897.2 | 948.2 | 1,250.8 | 1,246.9 | 1,117.5 |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 149.5 | 156.3 | 172.6 | 164.9 | 162.6 |
| Goodwill | 960 | 1,710.4 | 1,739.4 | 1,997.3 | 2,080.9 |
| Intangible Assets | 622 | 655.7 | 728.1 | 823.3 | 935.5 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 80.8 | 103.4 | 438.5 | 54.3 | 70.8 |
| Total Non-Current Assets | 1,818.5 | 2,631 | 3,081.8 | 3,041 | 3,251.2 |
| Total Assets | 2,715.7 | 3,579.2 | 4,332.6 | 4,287.9 | 4,368.7 |
| Current Liabilities | |||||
| Account Payables | 29.7 | 138.2 | 132.9 | 81.5 | 60.5 |
| Short-Term Debt | 14 | 74.8 | 26.1 | 0 | 0 |
| Deferred Revenue | 473.8 | 353.3 | 214.2 | 271.5 | 307 |
| Other Current Liabilities | 395.8 | 129.6 | 185.9 | 150.1 | 178.5 |
| Total Current Liabilities | 913.3 | 949.5 | 778.4 | 699 | 826.7 |
| Non-Current Liabilities | |||||
| Long-Term Debt | 54 | 1,049.7 | 1,565.9 | 0 | 0 |
| Deferred Tax Liabilities | 97.6 | 121.7 | 147.7 | 184.5 | 210.3 |
| Other Non-Current Liabilities | 1,087.3 | 35.3 | 63.7 | 21.7 | 17.9 |
| Total Non-Current Liabilities | 1,238.9 | 1,267.3 | 1,840.1 | 246.3 | 281.4 |
| Total Liabilities | 2,152.2 | 2,216.8 | 2,618.5 | 945.3 | 1,108.1 |
| Stockholders' Equity | |||||
| Common Stock | 0.1 | 0.1 | 0.1 | 0 | 0 |
| Retained Earnings | (1,383.2) | (397) | (68.5) | 0 | 0 |
| Accumulated Other Comprehensive Income | (170) | (282.9) | (215.5) | (276) | (148.4) |
| Total Stockholders' Equity | 563.5 | 1,362.4 | 1,714.1 | 3,342.6 | 3,260.6 |
| Total Liabilities & Equity | 2,715.7 | 3,579.2 | 4,332.6 | 4,287.9 | 4,368.7 |
| Debt Metrics | |||||
| Total Debt | 68 | 1,198.5 | 1,672 | 63.4 | 77.2 |
| Net Debt | (106.6) | 1,080 | 1,563.4 | (48.6) | (17.4) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | (986.2) | (271.5) | (25.2) | 186.2 | 98 | (359.2) |
| Depreciation & Amortization | 78 | 98 | 98 | 93.6 | 166.3 | 119 |
| Stock-Based Compensation | 74.4 | 58.4 | 42.7 | 25.4 | 27.5 | 23.1 |
| Change in Working Capital | 114.7 | 364.5 | 26.9 | (248.2) | (127.2) | 8.9 |
| Other Non-Cash Items | 864.6 | 38 | 67.6 | 42.2 | 35.4 | 449.4 |
| Operating Cash Flow | 113.5 | 262.8 | 168.4 | 82.7 | 169.8 | 200.9 |
| Investing Activities | ||||||
| Capital Expenditure | (25.2) | (25.5) | (40.3) | (54.4) | (26.5) | (24) |
| Acquisitions | 0 | 276.6 | 0 | 0 | 0 | (137.5) |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 39.6 | 0.5 | 8.5 | 0.4 | 0.3 | 0.3 |
| Investing Cash Flow | 14.4 | 251.6 | (31.8) | (54) | (26.2) | (161.2) |
| Financing Activities | ||||||
| Net Debt Issuance | (76.3) | (482.7) | 1,616 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | (15.1) | (1,756.8) | (6.3) | (128.5) | (33.1) |
| Financing Cash Flow | (76.3) | (497.8) | (140.8) | (6.3) | (128.5) | (33.1) |
| Cash Position | ||||||
| Net Change in Cash | 56.1 | 9.9 | (1.8) | 15.8 | 14.3 | 7.1 |
| Cash at Beginning | 118.5 | 108.6 | 110.4 | 94.6 | 80.3 | 73.2 |
| Cash at End | 174.6 | 118.5 | 108.6 | 110.4 | 94.6 | 80.3 |
| Free Cash Flow | 88.3 | 237.3 | 128.1 | 28.3 | 143.3 | 176.9 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 2,723.4 | 2,696.4 | 2,842.5 | 2,837 | 3,057.5 | 2,580.3 |
| Gross Profit | 425.8 | 534.2 | 590.6 | 724.4 | 604.4 | 489.1 |
| Operating Income | (30.6) | (161.9) | 32 | 187.1 | 114.3 | (314.2) |
| Net Income | (986.2) | (328.5) | (25.2) | 186.2 | 98 | (359.2) |
| EPS (Diluted) | -10.81 | -3.67 | -0.04 | 2.11 | 1.11 | -4.06 |
| Balance Sheet | ||||||
| Cash & Equivalents | 174.6 | 118.5 | 108.6 | 112 | 94.6 | |
| Total Assets | 2,715.7 | 3,579.2 | 4,332.6 | 4,287.9 | 4,368.7 | |
| Total Debt | 68 | 1,198.5 | 1,672 | 63.4 | 77.2 | |
| Stockholders' Equity | 563.5 | 1,362.4 | 1,714.1 | 3,342.6 | 3,260.6 | |
| Cash Flow | ||||||
| Operating Cash Flow | 113.5 | 262.8 | 168.4 | 82.7 | 169.8 | 200.9 |
| Capital Expenditure | (25.2) | (25.5) | (40.3) | (54.4) | (26.5) | (24) |
| Free Cash Flow | 88.3 | 237.3 | 128.1 | 28.3 | 143.3 | 176.9 |