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Fortrea Holdings Inc FTRE

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Stock XNAS Rating as of
$20.00 +0.60 (3.09%)
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As of Delayed Price Post-Trading: $20.00 0.00

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Narrow-Moat Fortrea Focuses on Turnaround Efforts to Support Long-Term Growth

Rachel Elfman

Fortrea is a global, late-stage contract research organization that provides comprehensive phase 1 through phase 4 clinical trial management, clinical pharmacology, and patient access solutions. Fortrea has a lengthy 30-year history dating to the 1990s, originally part of Corning's pharmaceutical services business. In 1997, Corning spun off this segment, which was named Covance. In 2015, Laboratory Corp. of America acquired Covance for $6.1 billion.

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Price vs Fair Value

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FTRE is trading at a LOCK|x?%%nnk premium.
Price
$19.40
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

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

Bears

Fortrea's margin improvement depends on disciplined cost actions while winning new business, and any operational challenges could delay its recovery.

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News

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Trading Information

Previous Close Price
$19.40
Day Range
$19.09–20.05
52-Week Range
$8.55–21.39
Bid/Ask
$19.43 / $20.50
Shares Outstanding
95.10M
Market Cap
$1.90B
Volume/Avg
1M / 1M

Key Statistics

Price/Earnings (Normalized)
145.12
Price/Sales
0.67
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
—

Company Profile

Fortrea is a global, late-stage contract research organization that provides comprehensive phase 1 through phase 4 clinical trial management, clinical pharmacology, and patient access solutions. The company works with emerging and large biopharma, medical device, and diagnostic companies to run their clinical trials as a functional-service provider, full-service provider, and offers hybrid trials. In 2023, Fortrea was formed as an independent, publicly traded company after Labcorp spun off its clinical development business, which it acquired via its purchase of Covance in 2015 for $6.1 billion.
Sector
Healthcare
Industry
Biotechnology
Stock Style Box
Small Growth
Total Number of Employees
14,000
Website
https://www.fortrea.com

Competitors

Valuation

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Metric
FTRE
IQV
ICLR
Price/Earnings (Normalized)
 145.1220.9118.61
Price/Book Value
 3.526.951.33
Price/Sales
 0.672.611.51
Price/Cash Flow
 34.5316.9413.08
Price/Earnings
FTRE
IQV
ICLR

Financial Strength

Metric
FTRE
IQV
ICLR
Quick Ratio
 0.850.620.92
Current Ratio
 0.960.710.95
Interest Coverage
 0.082.991.53
Quick Ratio
FTRE
IQV
ICLR

Profitability

Metric
FTRE
IQV
ICLR
Return on Assets (Normalized)
 2.15%7.22%3.91%
Return on Equity (Normalized)
 10.56%34.41%6.87%
Return on Invested Capital (Normalized)
 7.32%12.37%6.21%
Return on Assets
FTRE
IQV
ICLR

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