Feed / FTRE

Fortrea Holdings Inc.

FTRE

Healthcare · 17.03 +1.4% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Fortrea Holdings Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.

Company+1.4% todayVolume comparison unavailable
Market group0 of 17 activeHealthcare & Credit Tech · unavailable
Disclosed network0 of 3 confirmingNo filing-linked name is confirming now
What would change this read
  • FTRE's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if FTRE's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Biotechnology

No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • FTRE's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods5
Price observations319
Usable filing statements80
Verified relationships3
Evidence supporting the case

No qualifying supportive evidence was identified.

Evidence challenging the case
  • Operating margin changed -26.0 percentage points in the latest annual period.
  • Net margin changed -24.0 percentage points in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 4 filings.
  • Restructuring and cost reductions has repeated adverse evidence across 4 filings.
  • Capital investment and capacity has repeated adverse evidence across 3 filings.
  • Foreign exchange has repeated adverse evidence across 3 filings.
  • Product pipeline and R&D has repeated adverse evidence across 3 filings.
Questions before a position
  • EV/sales is 95% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

17.03
6m+58.9%12m+88.6%24m—
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$3.1B—$1.10—
2022-12-31$2.8B-7.2%$2.09+0.0%
2023-12-31$2.8B+0.2%$-0.29+0.0%
2024-12-31$2.7B-5.1%$-3.67+0.8%
2025-12-31$2.7B+1.0%$-10.81+1.9%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 4 filings
“Interest Expense Three Months Ended March 31, 2026 2025 Change Interest expense $ 19.1 $ 22.3 (14.3) % The decrease in interest expense for the three months ended March 31, 2026, as compared with the corresponding period in 2025, was due to lower average debt…”
10-Q · May 5, 2026 ↗
Restructuring and cost reductionsmixed · 4 filings
“The fluctuation was primarily due to goodwill impairment with no associated tax benefit and BEAT for the three months ended March 31, 2025 and the impact of valuation allowance primarily related to expected interest deductibility limitations for the three mon…”
10-Q · May 5, 2026 ↗
Capital investment and capacitynegative · 3 filings
“The $24.1 decrease in net cash (used for) provided by investing activities for the three months ended March 31, 2026 was primarily due to receipt of the first milestone payment related to the sale of the Enabling Services Segment during the three months ended…”
10-Q · May 5, 2026 ↗
Foreign exchangenegative · 3 filings
“Foreign Exchange Loss Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 Change 2025 2024 Change Foreign exchange loss $ (2.6) $ (0.2) 1200.0 % $ (28.1) $ (7.0) 301.4 % 30 Table of Contents The foreign exchange loss for the three and n…”
10-Q · Nov 5, 2025 ↗

Valuation discipline

Descriptive valuation snapshot

Price/sales 0.6× · EV/sales 0.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

17.03+1.4% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FTRE. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for FTRE. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind FTRE

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

LHLabcorp Holdings Inc.investeeMay 5, 2026 ▾

“Prior to the spin-off which was completed on June 30, 2023 (the “Spin” or “the Separation”), Fortrea existed and functioned as part of Labcorp Holdings Inc., which we refer to in this discussion and analysis as “Labcorp” or “Former Parent.” The following disc…”

Depended on by

MEDPMedpace Holdings, Inc.competitorFeb 10, 2026 ▾

“Our major CRO competitors include IQVIA Holdings Inc., ICON plc, PPD, Inc.”

Filing peers

RPRXIQV

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FTRE is currently a Follower in the organic co-movement group Healthcare & Credit Tech. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for FTRE; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.