Fortrea (FTRE) Financials

$5.92 +0.06 (+1.02%)

Closing price 04:00 PM Eastern

Extended Trading

$5.92 0.00 (-0.08%)

As of 07:46 PM Eastern

Annual Income Statements for Fortrea

This table shows Fortrea's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	98	186	-25	-329
Consolidated Net Income / (Loss)	98	186	-25	-329
Net Income / (Loss) Continuing Operations	98	146	-32	-272
Total Pre-Tax Income	136	187	-31	-275
Total Operating Income	114	187	32	-162
Total Gross Profit	604	724	591	534
Total Revenue	3,058	2,837	2,843	2,696
Operating Revenue	3,058	2,837	2,843	2,696
Total Cost of Revenue	2,453	2,113	2,252	2,162
Operating Cost of Revenue	2,453	2,113	2,252	2,162
Total Operating Expenses	490	537	559	696
Selling, General & Admin Expense	303	416	448	561
Depreciation Expense	166	86	89	85
Impairment Charge	0.00	9.80	0.00	0.00
Restructuring Charge	21	26	21	50
Total Other Income / (Expense), net	22	-0.10	-63	-113
Interest & Investment Income	-	-0.20	-70	-124
Other Income / (Expense), net	22	0.10	7.20	11
Income Tax Expense	38	41	1.20	-3.50
Net Income / (Loss) Discontinued Operations	-	40	6.50	-57
Basic Earnings per Share	$1.10	$2.09	($0.29)	($3.67)
Weighted Average Basic Shares Outstanding	-	-	89.40M	90.20M
Diluted Earnings per Share	$1.10	$2.09	($0.29)	($3.67)
Weighted Average Diluted Shares Outstanding	-	-	89.40M	90.20M
Weighted Average Basic & Diluted Shares Outstanding	-	-	89.40M	90.20M

This table shows Fortrea's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	61	13	31	-14	-55	-101	-138	-28	-61
Consolidated Net Income / (Loss)	61	13	31	-14	-55	-101	-138	-28	-61
Net Income / (Loss) Continuing Operations	61	8.00	25	-16	-49	-80	-99	-19	-74
Total Pre-Tax Income	74	9.50	37	-22	-55	-76	-89	-36	-75
Total Operating Income	69	14	32	10	-24	-37	-51	-18	-56
Total Gross Profit	168	152	156	150	132	108	137	148	141
Total Revenue	762	694	725	714	710	662	662	675	697
Operating Revenue	762	694	725	714	710	662	662	675	697
Total Cost of Revenue	595	542	569	564	578	554	525	527	556
Operating Cost of Revenue	595	542	569	564	578	554	525	527	556
Total Operating Expenses	99	138	125	140	156	145	188	166	197
Selling, General & Admin Expense	71	117	98	107	127	120	156	136	148
Depreciation Expense	23	21	23	23	22	22	21	21	21
Restructuring Charge	5.20	0.60	3.60	10	6.90	3.30	10	8.80	28
Total Other Income / (Expense), net	5.30	-4.60	5.00	-32	-31	-38	-38	-18	-19
Other Income / (Expense), net	5.30	-4.70	5.70	2.40	3.80	-4.00	7.50	4.60	2.60
Income Tax Expense	14	1.50	12	-5.80	-6.10	4.10	11	-17	-1.00
Net Income / (Loss) Discontinued Operations	-	4.50	5.80	2.10	-5.90	-21	-39	-9.40	13
Basic Earnings per Share	$0.68	$0.14	$0.35	($0.16)	($0.62)	($1.13)	($1.55)	($0.31)	($0.68)
Weighted Average Basic Shares Outstanding	-	-	88.80M	88.80M	89.40M	89.40M	89.60M	89.70M	90.20M
Diluted Earnings per Share	$0.68	$0.14	$0.35	($0.16)	($0.62)	($1.13)	($1.55)	($0.31)	($0.68)
Weighted Average Diluted Shares Outstanding	-	-	88.80M	88.80M	89.40M	89.40M	89.60M	89.70M	90.20M
Weighted Average Basic & Diluted Shares Outstanding	-	-	88.80M	88.80M	89.40M	89.40M	89.60M	89.70M	90.20M

This table details how cash moves in and out of Fortrea's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Change in Cash & Equivalents	14	16	-1.80	9.90
Net Cash From Operating Activities	170	83	168	263
Net Cash From Continuing Operating Activities	170	83	168	263
Net Income / (Loss) Continuing Operations	98	186	-25	-329
Consolidated Net Income / (Loss)	98	186	-25	-329
Depreciation Expense	166	94	98	87
Non-Cash Adjustments To Reconcile Net Income	-125	-41	57	474
Changes in Operating Assets and Liabilities, net	30	-156	39	30
Net Cash From Investing Activities	-26	-54	-32	252
Net Cash From Continuing Investing Activities	-26	-54	-32	252
Purchase of Property, Plant & Equipment	-27	-54	-40	-26
Sale of Property, Plant & Equipment	0.30	0.40	8.50	0.50
Divestitures	-	0.00	0.00	277
Net Cash From Financing Activities	-129	-6.30	-141	-498
Net Cash From Continuing Financing Activities	-129	-6.30	-141	-498
Repayment of Debt	0.00	0.00	-206	-1,310
Issuance of Debt	0.00	0.00	1,795	827
Other Financing Activities, net	-129	-6.30	-1,730	-14
Effect of Exchange Rate Changes	-0.80	-6.60	2.40	-6.70

This table details how cash moves in and out of Fortrea's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	12	2.90	7.80	-9.30	-5.10	4.80	-16	33	-21	13
Net Cash From Operating Activities	81	24	-2.00	150	1.90	18	-26	274	-2.40	17
Net Cash From Continuing Operating Activities	81	24	-2.00	150	1.90	18	-26	274	-2.40	17
Net Income / (Loss) Continuing Operations	61	27	13	31	-14	-55	-101	-138	-28	-61
Consolidated Net Income / (Loss)	61	27	13	31	-14	-55	-101	-138	-28	-61
Depreciation Expense	23	24	23	26	25	24	24	21	21	21
Non-Cash Adjustments To Reconcile Net Income	25	28	30	19	-20	28	74	379	-22	44
Changes in Operating Assets and Liabilities, net	-27	-55	-67	75	11	20	-22	11	27	14
Net Cash From Investing Activities	-17	-18	-16	-9.30	2.70	-9.00	-9.20	265	-8.10	3.50
Net Cash From Continuing Investing Activities	-17	-18	-16	-9.30	2.70	-9.00	-9.20	265	-8.10	3.50
Purchase of Property, Plant & Equipment	-17	-18	-16	-9.60	-5.10	-9.40	-9.30	-11	-8.20	3.20
Sale of Property, Plant & Equipment	0.10	-	0.00	0.30	7.80	0.40	0.10	-	0.10	0.30
Net Cash From Financing Activities	-47	-5.90	25	-150	-7.70	-7.70	21	-504	-14	-1.10
Net Cash From Continuing Financing Activities	-47	-5.90	25	-150	-7.70	-7.70	21	-504	-14	-1.10
Repayment of Debt	-	-	0.00	-26	-32	-148	-250	-708	-143	-210
Issuance of Debt	-	-	0.00	1,631	24	140	271	204	143	210
Other Financing Activities, net	-47	-5.90	25	-1,755	-	-	0.00	-	-14	-0.40
Effect of Exchange Rate Changes	-5.50	3.70	1.50	-0.20	-2.00	3.10	-2.30	-1.70	3.60	-6.30

This table presents Fortrea's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	4,288	4,333	3,579
Total Current Assets	1,247	1,251	948
Cash & Equivalents	112	109	119
Accounts Receivable	1,022	989	660
Prepaid Expenses	113	85	170
Other Current Nonoperating Assets	-	69	0.00
Plant, Property, & Equipment, net	0.00	173	156
Total Noncurrent Assets	3,041	2,909	2,475
Goodwill	1,997	1,739	1,710
Intangible Assets	823	728	656
Noncurrent Deferred & Refundable Income Taxes	1.20	3.20	5.20
Other Noncurrent Operating Assets	219	70	103
Other Noncurrent Nonoperating Assets	-	369	0.00
Total Liabilities & Shareholders' Equity	4,288	4,333	3,579
Total Liabilities	945	2,619	2,217
Total Current Liabilities	699	778	950
Short-Term Debt	0.00	26	75
Accounts Payable	82	133	138
Accrued Expenses	323	336	370
Current Deferred Revenue	272	214	353
Other Current Liabilities	23	17	13
Other Current Nonoperating Liabilities	-	53	0.00
Total Noncurrent Liabilities	246	1,840	1,267
Long-Term Debt	0.00	1,566	1,050
Noncurrent Deferred & Payable Income Tax Liabilities	185	148	122
Other Noncurrent Operating Liabilities	62	95	96
Other Noncurrent Nonoperating Liabilities	-	32	0.00
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,343	1,714	1,362
Total Preferred & Common Equity	3,343	1,714	1,362
Total Common Equity	3,343	1,714	1,362
Common Stock	0.00	1,998	2,042
Retained Earnings	0.00	-69	-397
Accumulated Other Comprehensive Income / (Loss)	-276	-216	-283

This table presents Fortrea's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	4,356	4,317	4,240	3,565	3,664
Total Current Assets	1,232	1,258	1,200	888	937
Cash & Equivalents	114	108	93	126	105
Accounts Receivable	1,015	1,047	941	638	689
Prepaid Expenses	103	103	91	124	143
Other Current Nonoperating Assets	-	-	75	0.00	0.00
Plant, Property, & Equipment, net	212	219	167	173	173
Total Noncurrent Assets	2,912	2,840	2,873	2,505	2,554
Goodwill	2,025	1,995	1,728	1,726	1,767
Intangible Assets	802	774	708	692	691
Noncurrent Deferred & Refundable Income Taxes	2.00	1.60	3.20	3.20	3.20
Other Noncurrent Operating Assets	84	70	89	84	92
Other Noncurrent Nonoperating Assets	-	-	345	0.00	0.00
Total Liabilities & Shareholders' Equity	4,356	4,317	4,240	3,565	3,664
Total Liabilities	2,605	2,622	2,648	2,104	2,150
Total Current Liabilities	752	775	818	749	796
Short-Term Debt	26	26	55	0.00	0.00
Accounts Payable	105	128	131	144	138
Accrued Expenses	336	336	329	343	323
Current Deferred Revenue	264	265	237	248	321
Other Current Liabilities	20	20	15	14	14
Other Current Nonoperating Liabilities	-	-	51	0.00	0.00
Total Noncurrent Liabilities	1,853	1,848	1,830	1,355	1,354
Long-Term Debt	1,579	1,572	1,559	1,124	1,125
Noncurrent Deferred & Payable Income Tax Liabilities	184	172	151	136	127
Other Noncurrent Operating Liabilities	90	104	88	95	103
Other Noncurrent Nonoperating Liabilities	-	-	32	0.00	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,751	1,694	1,592	1,461	1,514
Total Preferred & Common Equity	1,751	1,694	1,592	1,461	1,514
Total Common Equity	1,751	1,694	1,592	1,461	1,514
Common Stock	1,977	1,988	2,003	2,018	2,027
Retained Earnings	-	-13	-170	-308	-336
Accumulated Other Comprehensive Income / (Loss)	-226	-280	-242	-249	-178

This table displays calculated financial ratios and metrics derived from Fortrea's official financial filings.

Metric	2021	2022	2023	2024
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	-7.21%	0.19%	-5.14%
EBITDA Growth	0.00%	-7.30%	-51.14%	-146.87%
EBIT Growth	0.00%	37.04%	-79.06%	-485.71%
NOPAT Growth	0.00%	77.76%	-84.66%	-605.94%
Net Income Growth	0.00%	90.00%	-113.53%	-1,203.57%
EPS Growth	0.00%	90.00%	-113.88%	-1,165.52%
Operating Cash Flow Growth	0.00%	-51.30%	103.63%	56.06%
Free Cash Flow Firm Growth	0.00%	0.00%	113.27%	-11.56%
Invested Capital Growth	0.00%	0.00%	-11.98%	-16.71%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-9.38%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-3,022.73%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-74.39%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-63.21%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-9.50%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-9.23%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-5.55%	-0.11%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-6.49%
Profitability Metrics	-	-	-	-
Gross Margin	19.77%	25.53%	20.78%	19.81%
EBITDA Margin	9.91%	9.90%	4.83%	-2.38%
Operating Margin	3.74%	6.60%	1.13%	-6.00%
EBIT Margin	4.47%	6.60%	1.38%	-5.61%
Profit (Net Income) Margin	3.21%	6.56%	-0.89%	-12.18%
Tax Burden Percent	71.85%	99.57%	82.62%	119.45%
Interest Burden Percent	99.85%	99.89%	-77.81%	181.88%
Effective Tax Rate	28.15%	21.98%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	9.04%	0.74%	-4.35%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-62.79%	-8.62%	-24.50%
Return on Net Nonoperating Assets (RNNOA)	0.00%	2.10%	-1.73%	-17.01%
Return on Equity (ROE)	0.00%	11.14%	-1.00%	-21.36%
Cash Return on Invested Capital (CROIC)	0.00%	-190.96%	13.48%	13.89%
Operating Return on Assets (OROA)	0.00%	4.37%	0.91%	-3.82%
Return on Assets (ROA)	0.00%	4.34%	-0.58%	-8.30%
Return on Common Equity (ROCE)	0.00%	11.14%	-1.00%	-21.36%
Return on Equity Simple (ROE_SIMPLE)	0.00%	5.57%	-1.47%	-24.11%
Net Operating Profit after Tax (NOPAT)	82	146	22	-113
NOPAT Margin	2.69%	5.15%	0.79%	-4.20%
Net Nonoperating Expense Percent (NNEP)	0.00%	71.83%	9.36%	20.15%
Return On Investment Capital (ROIC_SIMPLE)	-	4.37%	0.68%	-4.56%
Cost of Revenue to Revenue	80.23%	74.47%	79.22%	80.19%
SG&A Expenses to Revenue	9.91%	14.67%	15.76%	20.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.03%	18.94%	19.65%	25.82%
Earnings before Interest and Taxes (EBIT)	137	187	39	-151
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	303	281	137	-64
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.81	1.23
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.09	0.62
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.61	1.13
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.61	0.99
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	33.40	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	116.90	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	204.58	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	27.21	10.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	11.20	7.40
Leverage & Solvency	-	-	-	-
Debt to Equity	0.00	0.00	0.93	0.83
Long-Term Debt to Equity	0.00	0.00	0.91	0.77
Financial Leverage	0.00	-0.03	0.20	0.69
Leverage Ratio	0.00	1.28	1.70	2.57
Compound Leverage Factor	0.00	1.28	-1.33	4.68
Debt to Total Capital	0.00%	0.00%	48.15%	45.22%
Short-Term Debt to Total Capital	0.00%	0.00%	0.79%	3.01%
Long-Term Debt to Total Capital	0.00%	0.00%	47.36%	42.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	100.00%	51.85%	54.78%
Debt to EBITDA	0.00	0.00	11.60	-17.49
Net Debt to EBITDA	0.00	0.00	10.81	-15.65
Long-Term Debt to EBITDA	0.00	0.00	11.41	-16.33
Debt to NOPAT	0.00	0.00	71.07	-9.92
Net Debt to NOPAT	0.00	0.00	66.22	-8.88
Long-Term Debt to NOPAT	0.00	0.00	69.91	-9.26
Altman Z-Score	0.00	0.00	1.50	0.91
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	0.00	1.78	1.61	1.00
Quick Ratio	0.00	1.62	1.41	0.82
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-3,085	409	362
Operating Cash Flow to CapEx	648.09%	153.15%	529.56%	1,051.20%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	849.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	718.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-
Asset Turnover	0.00	0.66	0.66	0.68
Accounts Receivable Turnover	0.00	2.78	2.83	3.27
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	16.40
Accounts Payable Turnover	0.00	25.92	21.01	15.95
Days Sales Outstanding (DSO)	0.00	131.51	129.10	111.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	14.08	17.38	22.88
Cash Conversion Cycle (CCC)	0.00	117.43	111.72	88.66
Capital & Investment Metrics	-	-	-	-
Invested Capital	0.00	3,231	2,844	2,368
Invested Capital Turnover	0.00	1.76	0.94	1.03
Increase / (Decrease) in Invested Capital	0.00	3,231	-387	-475
Enterprise Value (EV)	0.00	0.00	4,583	2,679
Market Capitalization	0.00	0.00	3,099	1,673
Book Value per Share	$0.00	$0.00	$19.30	$15.19
Tangible Book Value per Share	$0.00	$0.00	($8.48)	($11.19)
Total Capital	0.00	3,343	3,306	2,487
Total Debt	0.00	0.00	1,592	1,125
Total Long-Term Debt	0.00	0.00	1,566	1,050
Net Debt	0.00	-112	1,483	1,006
Capital Expenditures (CapEx)	26	54	32	25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	436	390	-45
Debt-free Net Working Capital (DFNWC)	0.00	548	499	74
Net Working Capital (NWC)	0.00	548	472	-1.30
Net Nonoperating Expense (NNE)	-16	-40	48	215
Net Nonoperating Obligations (NNO)	0.00	-112	1,130	1,006
Total Depreciation and Amortization (D&A)	166	94	98	87
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	15.36%	13.72%	-1.67%
Debt-free Net Working Capital to Revenue	0.00%	19.31%	17.54%	2.73%
Net Working Capital to Revenue	0.00%	19.31%	16.62%	-0.05%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.04)	($3.67)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	89.40M	90.20M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.04)	($3.67)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	89.40M	90.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	89.40M	90.20M
Normalized Net Operating Profit after Tax (NOPAT)	97	174	37	-78
Normalized NOPAT Margin	3.17%	6.13%	1.31%	-2.90%
Pre Tax Income Margin	4.46%	6.59%	-1.07%	-10.20%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	683.00	0.00	0.00	0.00
NOPAT to Interest Expense	410.61	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	552.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	279.61	0.00	0.00	0.00
Payout Ratios	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Fortrea's official financial filings.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	-8.57%	-6.36%	0.00%	-4.58%	-8.65%	-5.45%	-1.79%
EBITDA Growth	0.00%	0.00%	-41.31%	-61.09%	0.00%	-155.08%	-135.03%	-79.31%	-866.67%
EBIT Growth	0.00%	0.00%	-55.38%	-82.88%	0.00%	-540.43%	-216.35%	-205.51%	-162.38%
NOPAT Growth	0.00%	0.00%	-61.83%	-87.19%	0.00%	-320.49%	-265.07%	-274.76%	-131.67%
Net Income Growth	0.00%	0.00%	-53.61%	-123.10%	0.00%	-908.00%	-549.35%	-99.29%	-12.29%
EPS Growth	0.00%	0.00%	-53.33%	-123.53%	0.00%	-907.14%	-542.86%	-93.75%	-9.68%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	-97.65%	-21.70%	-1,180.00%	82.35%	-226.32%	-7.07%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	123.21%	120.14%	0.00%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-24.16%	-20.49%	-16.71%
Revenue Q/Q Growth	-3.88%	0.00%	4.50%	-1.56%	-0.57%	-27.53%	0.05%	1.89%	3.27%
EBITDA Q/Q Growth	-9.44%	0.00%	93.23%	-39.97%	-88.86%	-157.01%	-22.91%	135.45%	-512.82%
EBIT Q/Q Growth	-11.24%	0.00%	296.81%	-65.95%	-259.06%	-652.00%	-4.83%	69.12%	-295.52%
NOPAT Q/Q Growth	-0.49%	0.00%	81.79%	-66.60%	-333.01%	-1,200.00%	-36.10%	64.64%	-208.89%
Net Income Q/Q Growth	-8.73%	0.00%	146.40%	-145.45%	-289.29%	-200.60%	-37.03%	79.84%	-119.35%
EPS Q/Q Growth	-9.33%	0.00%	150.00%	-145.71%	-287.50%	-197.37%	-37.17%	80.00%	-119.35%
Operating Cash Flow Q/Q Growth	0.00%	-107.07%	7,605.00%	-98.73%	868.42%	-306.45%	1,169.14%	-100.88%	812.50%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	1.31%	100.00%	0.00%	126.67%	-14.38%	-31.82%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-1.74%	-10.72%	-2.37%	-11.44%	3.01%	-6.49%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	21.97%	21.96%	21.57%	21.01%	18.57%	16.30%	20.70%	21.97%	20.22%
EBITDA Margin	12.71%	4.68%	8.66%	5.28%	0.59%	-2.70%	-3.32%	1.16%	-4.62%
Operating Margin	9.04%	2.03%	4.36%	1.44%	-3.38%	-5.65%	-7.68%	-2.67%	-7.98%
EBIT Margin	9.73%	1.35%	5.14%	1.78%	-2.85%	-6.25%	-6.55%	-1.99%	-7.60%
Profit (Net Income) Margin	7.95%	1.80%	4.25%	-1.96%	-7.68%	-15.25%	-20.89%	-4.13%	-8.78%
Tax Burden Percent	81.67%	131.58%	84.15%	63.93%	99.63%	133.42%	156.21%	77.93%	81.71%
Interest Burden Percent	100.00%	101.06%	98.12%	-172.44%	270.79%	182.85%	204.15%	267.16%	141.32%
Effective Tax Rate	18.33%	15.79%	31.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-2.37%	-8.77%	-5.69%	-1.94%	-5.78%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-5.70%	-21.40%	-13.95%	-3.16%	-7.86%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	-3.76%	-15.92%	-10.81%	-2.47%	-5.46%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	-6.12%	-24.69%	-16.49%	-4.42%	-11.24%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	14.39%	0.00%	0.00%	0.00%	13.89%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	-1.88%	-4.54%	-4.99%	-1.48%	-5.18%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	-5.06%	-11.07%	-15.90%	-3.08%	-5.98%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	-6.12%	-24.69%	-16.49%	-4.42%	-11.24%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	-7.34%	-19.58%	-19.82%	0.00%
Net Operating Profit after Tax (NOPAT)	56	12	22	7.21	-17	-26	-36	-13	-39
NOPAT Margin	7.38%	1.71%	2.98%	1.01%	-2.37%	-3.95%	-5.38%	-1.87%	-5.58%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	-1.24%	2.85%	3.34%	12.64%	8.26%	1.22%	2.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-0.51%	-	-	-	-1.57%
Cost of Revenue to Revenue	78.03%	78.04%	78.43%	78.99%	81.43%	83.70%	79.30%	78.03%	79.78%
SG&A Expenses to Revenue	9.27%	16.83%	13.49%	14.96%	17.85%	18.14%	23.58%	20.20%	21.25%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.93%	19.93%	17.21%	19.57%	21.95%	21.95%	28.38%	24.64%	28.19%
Earnings before Interest and Taxes (EBIT)	74	9.40	37	13	-20	-41	-43	-13	-53
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	97	33	63	38	4.20	-18	-22	7.80	-32
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	1.50	1.81	2.25	1.43	1.18	1.23
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	1.09	1.17	0.69	0.60	0.62
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	1.27	1.61	1.84	1.25	1.11	1.13
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	1.61	1.66	1.02	0.94	0.99
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	33.40	43.71	96.08	1,277.82	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	116.90	254.23	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	204.58	629.32	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	22.60	27.21	35.54	11.53	10.68	10.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.40
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.92	0.94	0.93	1.01	0.77	0.74	0.83
Long-Term Debt to Equity	0.00	0.00	0.90	0.93	0.91	0.98	0.77	0.74	0.77
Financial Leverage	0.00	0.00	0.85	0.88	0.66	0.74	0.77	0.78	0.69
Leverage Ratio	0.00	0.00	2.49	2.55	1.70	2.66	2.47	2.49	2.57
Compound Leverage Factor	0.00	0.00	2.44	-4.39	4.62	4.87	5.03	6.65	3.63
Debt to Total Capital	0.00%	0.00%	47.82%	48.55%	48.15%	50.35%	43.48%	42.63%	45.22%
Short-Term Debt to Total Capital	0.00%	0.00%	0.78%	0.79%	0.79%	1.72%	0.00%	0.00%	3.01%
Long-Term Debt to Total Capital	0.00%	0.00%	47.05%	47.75%	47.36%	48.64%	43.48%	42.63%	42.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	52.18%	51.45%	51.85%	49.65%	56.52%	57.37%	54.78%
Debt to EBITDA	0.00	0.00	0.00	0.00	11.60	13.81	35.01	511.14	-17.49
Net Debt to EBITDA	0.00	0.00	0.00	0.00	10.81	13.02	31.08	463.27	-15.65
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	11.41	13.34	35.01	511.14	-16.33
Debt to NOPAT	0.00	0.00	0.00	0.00	71.07	198.82	-22.64	-16.19	-9.92
Net Debt to NOPAT	0.00	0.00	0.00	0.00	66.22	187.39	-20.10	-14.68	-8.88
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	69.91	192.04	-22.64	-16.19	-9.26
Altman Z-Score	0.00	0.00	0.00	0.00	1.46	1.56	1.33	1.22	1.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	1.64	1.62	1.61	1.47	1.19	1.18	1.00
Quick Ratio	0.00	0.00	1.50	1.49	1.41	1.26	1.02	1.00	0.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	-3,220	-3,178	0.00	-2,802	747	640	436
Operating Cash Flow to CapEx	478.70%	-12.35%	1,613.98%	0.00%	204.44%	-278.26%	2,443.75%	-29.63%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-81.70	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	-0.75	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-1.01	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.66	0.73	0.76	0.75	0.68
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	2.83	3.27	3.65	3.43	3.27
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	18.38	15.64	15.17	16.40
Accounts Payable Turnover	0.00	0.00	0.00	0.00	21.01	19.81	20.50	18.96	15.95
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	129.10	111.62	100.05	106.48	111.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	17.38	18.42	17.80	19.25	22.88
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	111.72	93.19	82.25	87.23	88.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	3,242	3,185	2,844	2,776	2,459	2,533	2,368
Invested Capital Turnover	0.00	0.00	0.00	0.00	1.00	2.22	1.06	1.04	1.03
Increase / (Decrease) in Invested Capital	0.00	0.00	3,242	3,185	0.00	2,776	-783	-653	-475
Enterprise Value (EV)	0.00	0.00	0.00	4,030	4,583	5,110	3,084	2,811	2,679
Market Capitalization	0.00	0.00	0.00	2,539	3,099	3,589	2,087	1,792	1,673
Book Value per Share	$0.00	$0.00	$19.72	$19.08	$19.30	$17.81	$16.34	$16.89	$15.19
Tangible Book Value per Share	$0.00	$0.00	($12.11)	($12.10)	($8.48)	($9.44)	($10.70)	($10.54)	($11.19)
Total Capital	0.00	0.00	3,356	3,293	3,306	3,206	2,585	2,638	2,487
Total Debt	0.00	0.00	1,605	1,599	1,592	1,614	1,124	1,125	1,125
Total Long-Term Debt	0.00	0.00	1,579	1,572	1,566	1,559	1,124	1,125	1,050
Net Debt	0.00	0.00	1,491	1,491	1,483	1,522	998	1,019	1,006
Capital Expenditures (CapEx)	17	16	9.30	-2.70	9.00	9.20	11	8.10	-3.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	391	402	390	344	13	36	-45
Debt-free Net Working Capital (DFNWC)	0.00	0.00	506	509	499	437	139	141	74
Net Working Capital (NWC)	0.00	0.00	479	483	472	382	139	141	-1.30
Net Nonoperating Expense (NNE)	-4.33	-0.63	-9.22	21	38	75	103	15	22
Net Nonoperating Obligations (NNO)	0.00	0.00	1,491	1,491	1,130	1,184	998	1,019	1,006
Total Depreciation and Amortization (D&A)	23	23	26	25	24	24	21	21	21
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	13.72%	11.18%	0.41%	1.20%	-1.67%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	17.54%	14.19%	4.60%	4.74%	2.73%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	16.62%	12.40%	4.60%	4.74%	-0.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.32	($0.15)	($0.62)	($1.13)	($1.55)	($0.31)	($0.68)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	88.80M	88.80M	89.40M	89.40M	89.60M	89.70M	90.20M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.32	($0.15)	($0.62)	($1.13)	($1.55)	($0.31)	($0.68)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	88.80M	88.80M	89.40M	89.40M	89.60M	89.70M	90.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	88.80M	88.80M	89.40M	89.40M	89.60M	89.70M	90.20M
Normalized Net Operating Profit after Tax (NOPAT)	61	12	24	14	-12	-24	-28	-6.44	-20
Normalized NOPAT Margin	7.94%	1.78%	3.32%	2.00%	-1.69%	-3.61%	-4.28%	-0.95%	-2.81%
Pre Tax Income Margin	9.73%	1.37%	5.05%	-3.07%	-7.71%	-11.43%	-13.38%	-5.30%	-10.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-1.21	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	-0.76	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-1.48	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	-1.03	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Fortrea's Financials

When does Fortrea's financial year end?

According to the most recent income statement we have on file, Fortrea's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Fortrea's net income changed over the last 3 years?

Fortrea's net income appears to be on an upward trend, with a most recent value of -$328.50 million in 2024, falling from $98 million in 2021. The previous period was -$25.20 million in 2023.

What is Fortrea's operating income?

Fortrea's total operating income in 2024 was -$161.90 million, based on the following breakdown:

Total Gross Profit: $534.20 million
Total Operating Expenses: $696.10 million

How has Fortrea revenue changed over the last 3 years?

Over the last 3 years, Fortrea's total revenue changed from $3.06 billion in 2021 to $2.70 billion in 2024, a change of -11.8%.

How much debt does Fortrea have?

Fortrea's total liabilities were at $2.22 billion at the end of 2024, a 15.3% decrease from 2023, and a 134.5% increase since 2022.

How much cash does Fortrea have?

In the past 2 years, Fortrea's cash and equivalents has ranged from $108.60 million in 2023 to $118.50 million in 2024, and is currently $118.50 million as of their latest financial filing in 2024.

How has Fortrea's book value per share changed over the last 3 years?

Over the last 3 years, Fortrea's book value per share changed from 0.00 in 2021 to 15.19 in 2024, a change of 1,518.8%.

Related Companies

This page (NASDAQ:FTRE) was last updated on 4/25/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Fortrea (FTRE) Financials

Frequently Asked Questions About Fortrea's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Fortrea (FTRE) Financials

Annual Income Statements for Fortrea

Quarterly Income Statements for Fortrea

Annual Cash Flow Statements for Fortrea

Quarterly Cash Flow Statements for Fortrea

Annual Balance Sheets for Fortrea

Quarterly Balance Sheets for Fortrea

Annual Metrics and Ratios for Fortrea

Quarterly Metrics and Ratios for Fortrea

Frequently Asked Questions About Fortrea's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools