Stock FTRE FORTREA HOLDINGS INC.
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Financials Fortrea Holdings Inc.

Equities

FTRE

US34965K1079

Biotechnology & Medical Research

Real-time Estimate Cboe BZX
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 11:04:10 2024-06-05 am EDT 		5-day change 1st Jan Change
26.06 USD +4.72% Intraday chart for Fortrea Holdings Inc. +3.97% -26.39%
Jun. 04 Fortrea Holdings Completes Divestiture of Enabling Services Segment to Arsenal Capital Partners MT
Jun. 03 Arsenal Capital Partners completed the acquisition of Fortrea Patient Access Inc., Endpoint Clinical, Inc. and Other Assets of Enabling Services Segment from Fortrea Holdings Inc.. CI

Valuation

Fiscal Period: December 2023 2024 2025 2026
Capitalization 1 3,099 2,224 - -
Enterprise Value (EV) 1 4,583 3,792 3,645 3,491
P/E ratio -873 x -23.8 x 41.1 x 19.2 x
Yield - - - -
Capitalization / Revenue 1 x 0.79 x 0.76 x 0.72 x
EV / Revenue 1.47 x 1.35 x 1.25 x 1.13 x
EV / EBITDA 17.1 x 16 x 10.5 x 8.93 x
EV / FCF 36.1 x 52.8 x 22.6 x 16.1 x
FCF Yield 2.77% 1.89% 4.42% 6.21%
Price to Book 1.78 x 1.32 x 1.19 x 1.08 x
Nbr of stocks (in thousands) 88,800 89,374 - -
Reference price 2 34.90 24.88 24.88 24.88
Announcement Date 3/11/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2022 2023 2024 2025 2026
Net sales 1 - 3,109 2,801 2,928 3,095
EBITDA 1 - 267.3 236.7 348 391.1
EBIT 1 - 170.9 186.2 317.2 353.7
Operating Margin - 5.5% 6.65% 10.83% 11.43%
Earnings before Tax (EBT) 1 237 1.1 -131 37.85 113.9
Net income 1 192.9 -3.4 -116.1 51.53 92.11
Net margin - -0.11% -4.14% 1.76% 2.98%
EPS 2 - -0.0400 -1.045 0.6050 1.297
Free Cash Flow 1 - 127.1 71.8 161.1 216.6
FCF margin - 4.09% 2.56% 5.5% 7%
FCF Conversion (EBITDA) - 47.55% 30.33% 46.29% 55.39%
FCF Conversion (Net income) - - - 312.57% 235.18%
Dividend per Share 2 - - - - -
Announcement Date 5/15/23 3/11/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 793 776.4 775.4 662.1 688.6 715 732 703.6 723.4
EBITDA 1 72.5 70.5 67.2 29.5 50.67 70.16 86.72 63.59 81.48
EBIT 1 63 45.9 43.3 7.6 37.64 53.77 77.68 52.55 77.17
Operating Margin 7.94% 5.91% 5.58% 1.15% 5.47% 7.52% 10.61% 7.47% 10.67%
Earnings before Tax (EBT) 1 - - -41 -77.5 -32.97 - - 5.017 20.53
Net income 1 28.3 -13.1 -36 -102.8 -32.4 -12.33 -4.827 -6.678 8.06
Net margin 3.57% -1.69% -4.64% -15.53% -4.7% -1.73% -0.66% -0.95% 1.11%
EPS 2 0.3200 -0.1500 -0.4100 -1.150 -0.2533 0.0100 0.1200 -0.0300 0.0950
Dividend per Share 2 - - - - - - - - -
Announcement Date 8/14/23 11/13/23 3/11/24 5/13/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2022 2023 2024 2025 2026
Net Debt 1 - 1,483 1,569 1,422 1,267
Net Cash position 1 - - - - -
Leverage (Debt/EBITDA) - 5.55 x 6.628 x 4.086 x 3.24 x
Free Cash Flow 1 - 127 71.8 161 217
ROE (net income / shareholders' equity) - 4.9% 3.92% 8.54% 8.47%
ROA (Net income/ Total Assets) - 2.88% 1.07% 2.68% 4.02%
Assets 1 - -118 -10,822 1,921 2,293
Book Value Per Share 2 - 19.60 18.90 20.90 23.00
Cash Flow per Share 2 - 1.970 0.5200 2.350 2.530
Capex 1 - 40.3 57.8 47.1 56.7
Capex / Sales - 1.3% 2.06% 1.61% 1.83%
Announcement Date 5/15/23 3/11/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Fortrea Holdings Inc.

Trading Rating
Investor Rating
ESG Refinitiv
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Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
10
Last Close Price
24.88 USD
Average target price
32.22 USD
Spread / Average Target
+29.51%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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