Fortrea Holdings Inc. (FTRE) Key Metrics
FTRE valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $2.14B
- Enterprise value
- $2.81B
- P/E (TTM)
- —
- Forward P/E
- 12.1
- PEG ratio
- 0.34
- Price / sales
- 0.8 10-yr median 0.6
- Price / book
- 3.5 10-yr median 1.8
- EV / EBITDA
- 33.1
- Dividend yield
- —
- Beta
- 1.91
FTRE key metrics, 2020–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFTRE valuation Price multiples at each fiscal year-end price.
FTRE returns How much profit the business earns on the capital it uses.
FTRE per-share figures Results divided by the shares outstanding at year-end.
FTRE financial health Debt, liquidity and how easily interest is covered.
FTRE efficiency & capital use Working capital cycle and where the cash goes.
FTRE valuation history
FTRE returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FTRE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FTRE price vs earnings per share
FTRE key metrics
2020–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Valuation | ||||||
| Market capitalization | $1.57B | $1.67B | $3.10B | — | — | — |
| Enterprise value | $2.51B | $2.75B | $4.66B | — | — | — |
| Price / sales | 0.6 | 0.6 | 1.1 | — | — | — |
| Price / book | 2.8 | 1.2 | 1.8 | — | — | — |
| Price / free cash flow | 17.8 | 7.0 | 24.2 | — | — | — |
| Price / operating cash flow | 13.9 | 6.4 | 18.4 | — | — | — |
| EV / sales | 0.9 | 1.0 | 1.6 | — | — | — |
| EV / EBITDA | — | — | 34.0 | — | — | — |
| EV / free cash flow | 28.5 | 11.6 | 36.4 | — | — | — |
| Earnings yield | −62.7% | −19.7% | −0.8% | — | — | — |
| Free cash flow yield | 5.6% | 14.2% | 4.1% | — | — | — |
| Share price at fiscal year-end | $17.25 | $18.65 | $34.90 | — | — | — |
| Per share | ||||||
| Revenue per share | $29.86 | $30.13 | $32.01 | $32.09 | $34.59 | $29.19 |
| Earnings per share | −$10.81 | −$3.67 | −$0.28 | $2.11 | $1.11 | −$4.06 |
| Operating cash flow per share | $1.24 | $2.94 | $1.90 | $0.94 | $1.92 | $2.27 |
| Free cash flow per share | $0.97 | $2.65 | $1.44 | $0.32 | $1.62 | $2.00 |
| Cash per share | $1.91 | $1.32 | $1.22 | $1.27 | $1.07 | — |
| Book value per share | $6.18 | $15.22 | $19.30 | $37.81 | $36.88 | — |
| Tangible book value per share | −$11.17 | −$11.21 | −$8.48 | $5.90 | $2.76 | — |
| Capex per share | $0.28 | $0.28 | $0.45 | $0.62 | $0.30 | $0.27 |
| Debt per share | $12.24 | $13.39 | $18.83 | $0.72 | $0.87 | — |
| Shares outstanding | 91.2M | 89.5M | 88.8M | 88.4M | 88.4M | 88.4M |
| Change in shares outstanding | +1.9% | +0.8% | +0.5% | 0.0% | 0.0% | — |
| Returns & profitability | ||||||
| Return on equity (ROE) | −102.4% | −21.4% | −1.0% | 5.6% | 3.0% | — |
| Return on invested capital (ROIC) | −1.2% | −4.5% | 0.8% | 4.5% | 2.5% | — |
| Return on assets (ROA) | −31.3% | −8.3% | −0.6% | 4.3% | 2.2% | — |
| Return on tangible assets | −87.0% | −27.1% | −1.4% | 12.7% | 7.2% | — |
| Free cash flow margin | 3.2% | 8.8% | 4.5% | 1.0% | 4.7% | 6.9% |
| Income quality (OCF / net income) | — | — | — | 0.44 | 1.73 | — |
| Financial health | ||||||
| Total debt | $1.12B | $1.20B | $1.67B | $63.4M | $77.2M | — |
| Cash & short-term investments | $174.6M | $118.5M | $108.6M | $112.0M | $94.6M | — |
| Net debt | $941.4M | $1.08B | $1.56B | −$48.6M | −$17.4M | — |
| Debt / equity | 1.98 | 0.88 | 0.98 | 0.02 | 0.02 | — |
| Debt / assets | 0.41 | 0.33 | 0.39 | 0.01 | 0.02 | — |
| Net debt / EBITDA | — | — | 11.40 | −0.17 | −0.06 | — |
| Current ratio | 0.98 | 1.00 | 1.61 | 1.78 | 1.35 | — |
| Quick ratio | 0.98 | 1.00 | 1.56 | 1.78 | 1.35 | — |
| Interest coverage | -0.3 | -1.3 | 0.5 | 935.5 | 571.5 | — |
| Working capital | −$16.1M | −$1.3M | $472.4M | $547.9M | $290.8M | — |
| Invested capital | $1.50B | $2.44B | $3.28B | $3.29B | $3.24B | — |
| Tangible asset value | −$1.02B | −$1.00B | −$753.4M | $522.0M | $244.2M | — |
| Net current asset value | −$1.25B | −$1.27B | −$1.37B | $301.6M | $9.4M | — |
| Graham number | — | — | — | $42.33 | $30.33 | — |
| Graham net-net per share | −$16.59 | −$17.63 | −$19.53 | −$0.51 | −$3.41 | — |
| Capital allocation | ||||||
| Capex / revenue | 0.9% | 0.9% | 1.4% | 1.9% | 0.9% | 0.9% |
| Capex / operating cash flow | 22.2% | 9.7% | 23.9% | 65.8% | 15.6% | 11.9% |
| Capex / depreciation | 0.32 | 0.29 | 0.41 | 0.58 | 0.16 | 0.20 |
| Stock-based compensation / revenue | 2.7% | 2.2% | 1.5% | 0.9% | 0.9% | 0.9% |
| SG&A / revenue | 16.8% | 20.8% | 11.8% | 10.6% | 9.9% | 10.4% |
| Efficiency | ||||||
| Days sales outstanding | 88.1 | 115.4 | 132.4 | 128.7 | 113.4 | — |
| Days of inventory on hand | — | — | 5.7 | — | — | — |
| Days payables outstanding | 13.3 | 22.9 | 17.4 | 12.3 | 9.0 | — |
| Cash conversion cycle (days) | 74.7 | 92.5 | 120.7 | 116.5 | 104.4 | — |
| Receivables turnover | 4.15 | 3.16 | 2.76 | 2.84 | 3.22 | — |
| Payables turnover | 27.37 | 15.95 | 21.01 | 29.75 | 40.55 | — |
| Inventory turnover | — | — | 63.79 | — | — | — |
| Asset turnover | 0.87 | 0.68 | 0.66 | 0.66 | 0.70 | — |
| Average receivables | $657.0M | $852.2M | $1.03B | $1.00B | $949.8M | — |
| Average payables | $84.0M | $135.6M | $107.2M | $71.0M | $60.5M | — |
| Average inventory | — | — | $35.3M | — | — | — |
| Intangibles / total assets | 58.3% | 66.1% | 57.0% | 65.8% | 69.0% | — |
Computed from FTRE's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FTRE valuation and financial ratios
Fortrea earned a return on equity of −102.4% and a return on invested capital of −1.2% in fiscal 2025. It ended the year with $1.1 billion of debt and $174.6 million in cash and short-term investments, net debt of $941.4 million. The share count rose 3.2% from 88.4M to 91.2M over 5 years.
See the FTRE income statement, the FTRE chart for price history, or the FTRE stock overview for the latest quote and news.
FTRE key metrics FAQ
What is Fortrea's return on equity?
Fortrea's return on equity (ROE) was −102.4% in fiscal 2025: net income of -$986.2 million on average shareholders' equity of $963.0 million.
What is Fortrea's ROIC?
Fortrea's return on invested capital was −1.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Fortrea have?
Fortrea had total debt of $1.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.98.
What is Fortrea's free cash flow yield?
Fortrea generated $88.3 million of free cash flow in fiscal 2025, a free cash flow yield of 5.6% on its market value at year-end ($1.6 billion).
What is Fortrea's current ratio?
Fortrea's current ratio was 0.98 at the end of fiscal 2025: current assets were 0.98 times current liabilities.