Financial Snapshot

Revenue
$2.876B
TTM
Gross Margin
17.27%
TTM
Net Earnings
-$288.5M
TTM
Current Assets
Q2 2024
Current Liabilities
Q2 2024
Current Ratio
118.52%
Q2 2024
Total Assets
Q2 2024
Total Liabilities
Q2 2024
Book Value
$1.461B
Q2 2024
Cash
Q2 2024
P/E
-6.879
Sep 17, 2024 EST
Free Cash Flow
$226.3M
TTM

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021 2020
Revenue $3.109B $3.096B $3.058B $2.580B
YoY Change 0.42% 1.26% 18.49%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021 2020
Revenue $3.109B $3.096B $3.058B $2.580B
Cost Of Revenue $2.589B $2.447B $2.453B $2.091B
Gross Profit $520.4M $648.7M $604.4M $489.1M
Gross Profit Margin 16.74% 20.95% 19.77% 18.96%

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021 2020
Selling, General & Admin $336.6M $279.8M $303.1M $267.6M
YoY Change 20.3% -7.69% 13.27%
% of Gross Profit 64.68% 43.13% 50.15% 54.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $96.40M $92.70M $166.3M $119.0M
YoY Change 3.99% -44.26% 39.75%
% of Gross Profit 18.52% 14.29% 27.51% 24.33%
Operating Expenses $336.6M $372.5M $469.4M $386.6M
YoY Change -9.64% -20.64% 21.42%
Operating Profit $63.10M $276.2M $135.0M $102.5M
YoY Change -77.15% 104.59% 31.71%

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021 2020
Interest Expense $69.80M -$900.0K $20.20M -$18.80M
YoY Change -7855.56% -104.46% -207.45%
% of Operating Profit 110.62% -0.33% 14.96% -18.34%
Other Income/Expense, Net $6.900M $2.000M $1.900M $800.0K
YoY Change 245.0% 5.26% 137.5%

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021 2020
Pretax Income $1.100M $237.0M $136.4M -$332.2M
YoY Change -99.54% 73.75% -141.06%
Income Tax $4.500M $44.10M $38.40M $27.00M
% Of Pretax Income 409.09% 18.61% 28.15%
Net Earnings -$3.400M $192.9M $98.00M -$359.2M
YoY Change -101.76% 96.84% -127.28%
Net Earnings / Revenue -0.11% 6.23% 3.21% -13.92%
Basic Earnings Per Share -$0.04 $2.17 $1.10
Diluted Earnings Per Share -$0.04 $2.18 $1.11 -$4.05

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021 2020
Cash & Short-Term Investments $108.6M $112.0M $94.60M $80.30M
YoY Change -3.04% 18.39% 17.81%
Cash & Equivalents $108.6M $112.0M $94.60M $80.30M
Short-Term Investments
Other Short-Term Assets $92.40M $112.7M $95.90M $117.9M
YoY Change -18.01% 17.52% -18.66%
Inventory
Prepaid Expenses
Receivables $1.052B $1.022B $927.0M $741.7M
Other Receivables $0.00 $0.00 $0.00 $0.00
Total Short-Term Assets $1.253B $1.247B $1.118B $939.9M
YoY Change 0.5% 11.58% 18.9%
Property, Plant & Equipment $220.9M $164.9M $162.6M $178.1M
YoY Change 33.96% 1.41% -8.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $82.70M $55.50M $72.20M $26.40M
YoY Change 49.01% -23.13% 173.48%
Total Long-Term Assets $3.104B $3.041B $3.251B $3.401B
YoY Change 2.07% -6.47% -4.39%
Total Assets $4.357B $4.288B $4.369B $4.340B
YoY Change
Accounts Payable $132.8M $81.50M $60.50M $67.20M
YoY Change 62.94% 34.71% -9.97%
Accrued Expenses $375.6M $318.9M $429.0M $328.3M
YoY Change 17.78% -25.66% 30.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $26.10M
YoY Change
Total Short-Term Liabilities $775.9M $699.0M $826.7M $700.5M
YoY Change 11.0% -15.45% 18.02%
Long-Term Debt $1.566B $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $127.8M $61.80M $71.10M $94.80M
YoY Change 106.8% -13.08% -25.0%
Total Long-Term Liabilities $1.694B $61.80M $71.10M $94.80M
YoY Change 2640.61% -13.08% -25.0%
Total Liabilities $2.618B $945.3M $1.108B $1.049B
YoY Change 176.99% -14.69% 5.65%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021 2020
Basic Shares Outstanding 88.80M shares 88.80M shares 88.80M shares
Diluted Shares Outstanding 88.80M shares 88.80M shares 88.80M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Dividends

Dividends

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Stock Price

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Market Cap: $1.9846 Billion

About Fortrea Holdings Inc

Fortrea Holdings, Inc. engages in the provision of clinical development and commercialization services. The company is headquartered in Durham, North Carolina and currently employs 16,000 full-time employees. The company went IPO on 2023-06-16. The firm is engaged in providing biopharmaceutical product and medical device development services to pharmaceutical, biotechnology and medical device customers. The firm offers customers flexible delivery models that include full service, functional service provider, and hybrid service structures. The company provides phase I-IV clinical trial management, clinical pharmacology and consulting services. The firm manages its business through a single segment, Clinical Services, that provides services across the clinical pharmacology and clinical development spectrum. The firm has access to all key markets worldwide through a footprint of primary office locations in five countries (the United States, the United Kingdom, China, India and Singapore) with field operations in other jurisdictions worldwide.

Industry: Services-Medical Laboratories Peers: 10X Genomics Inc Azenta Inc Cytek Biosciences Inc Maravai LifeSciences Holdings Inc Pacific Biosciences of California Inc Quanterix Corp Sotera Health Co Thermo Fisher Scientific Inc