Fortrea Holdings Inc. Website

Fortrea Holdings Inc.

NasdaqGS-FTRE

Company Overview

Fortrea Holdings Inc., a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. It operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum. The Enabling Services segment provides patient access and clinical trial technology solutions to customers that streamline complex randomization and optimize the trial drug supply process. The company offers delivery models that include full service, functional service provider, and hybrid service structures. It also offers phase I-IV clinical trial management, differentiated technology enabled trial solutions, and post approval services. The company serves pharmaceutical, biotechnology, and medical device organizations. Fortrea Holdings Inc. was incorporated in 2023 and is based in Durham, North Carolina.

  • Name

    Fortrea Holdings Inc.

  • CEO

    Anshul Thakral

  • Website

    www.fortrea.com

  • Sector

    Life Sciences Tools and Services

  • Year Founded

    2023

Company Statistics

Profile

  • Market Cap

    —

  • EV

    —

  • Shares Out

    —

  • Revenue

    —

  • Employees

    —

Margins

  • Gross

    —

  • EBITDA

    —

  • Operating

    —

  • Pre-Tax

    —

  • Net

    —

  • FCF

    —

Returns (5Yr Avg)

  • ROA

    —

  • ROTA

    —

  • ROE

    —

  • ROCE

    —

  • ROIC

    —

Valuation (TTM)

  • P/E

    —

  • P/B

    —

  • EV/Sales

    —

  • EV/EBITDA

    —

  • P/FCF

    —

  • EV/Gross Profit

    —

Valuation (NTM)

  • Price Target

    —

  • P/E

    —

  • PEG

    —

  • EV/Sales

    —

  • EV/EBITDA

    —

  • P/FCF

    —

Financial Health

  • Cash

    —

  • Net Debt

    —

  • Debt/Equity

    —

  • EBIT/Interest

    —

Growth (CAGR)

  • Rev 3Yr

    —

  • Rev 5Yr

    —

  • Rev 10Yr

    —

  • Dil EPS 3Yr

    —

  • Dil EPS 5Yr

    —

  • Dil EPS 10Yr

    —

  • Rev Fwd 2Yr

    —

  • EBITDA Fwd 2Yr

    —

  • EPS Fwd 2Yr

    —

  • EPS LT Growth Est

    —

Dividends

  • Yield

    —

  • Payout

    —

  • DPS

    —

  • DPS Growth 3Yr

    —

  • DPS Growth 5Yr

    —

  • DPS Growth 10Yr

    —

  • DPS Growth Fwd 2Yr

    —

Bulls Say

  • Fortrea is poised to benefit from steadily increasing levels of outsourced clinical trials and complex novel therapeutics, such as biologics and gene therapies.

  • Fortrea has extensive experience across 20 therapeutic areas across every phase of the development from clinical pharmacology to phase 4 studies conducted after approval.

  • Fortrea has a large global footprint with operations in 90 countries, which is beneficial when running late-stage, multinational clinical trials.

Bears Say

  • There are potential operational risks associated with Fortrea functioning as a newly independent company after its spinoff from Labcorp.

  • Significant pullbacks to biotech funding or declines in outsourcing penetration rates could have a material impact on Fortrea's growth.

  • Fortrea could fail to innovate and keep an edge over regional and global CRO competitors, especially as data and analytics play an increasing role in clinical development.

Source: Morningstar Analysis - Nov 06, 2025

What's happening

Nov 13, 2025 - Dec 13, 2025

Fortrea Holdings Inc. Surges Amid Strategic Moves and Analyst Upgrades

  • Citigroup's upgrade to Buy and new hire inducement awards boost investor confidence in Fortrea Holdings Inc.
  • The company actively engaged with investors at major healthcare conferences, enhancing market perceptions of its strategic direction.
  • Despite some bearish sentiment from shareholder divestitures, FTRE maintained a strong recovery trajectory over the month.

Over the past month, Fortrea Holdings Inc. (FTRE) experienced a notable price increase of 38.5%, significantly outperforming the S&P 500, which recorded a slight decline of 0.2%. This robust performance can be attributed to several key developments that positively influenced investor sentiment and market confidence in FTRE.

On December 11, FTRE saw an impressive surge of 8% following Citigroup's upgrade from Neutral to Buy alongside the announcement of inducement awards for new hires. This strategic decision reflects management’s commitment to future growth while aligning with Nasdaq regulations aimed at attracting talent to enhance operational capabilities. Earlier in November, FTRE had already begun building momentum by repurchasing $75.7 million worth of its Senior Secured Notes due in 2030, effectively reducing its debt load and demonstrating financial prudence.

The company also engaged actively with investors through presentations at major healthcare conferences on December 2 and December 3, where executives highlighted clinical development solutions integral to their strategy moving forward. These engagements were well-received and contributed positively to market perceptions about FTRE’s direction.

However, not all news was favorable during this period; on November 17, Starboard Value LP dissolved its stake in Fortrea Holdings Inc., raising concerns over shareholder sentiment amidst ongoing scrutiny related to corporate governance practices involving potential wrongdoing by company officers and directors as reported by Bronstein Gewirtz & Grossman LLC. Such bearish sentiments momentarily affected stock performance but did not overshadow the overall positive trajectory established by other bullish events.

Overall, while challenges such as stakeholder divestitures emerged earlier in November—reflecting some bearish movements—the narrative for FTRE has been one characterized by strong recovery driven by strategic initiatives and positive analyst coverage throughout the month-long period marked by volatility yet resilience within the sector context where Fortrea Holdings Inc outperformed the Health Care (XLV) sector by an impressive margin of 37.7%.

NasdaqGS:FTRE