FTREFortrea Holdings Inc.
Services-Medical Laboratories
- Revenue
- $2.7B
- 1.0% YoY
- Operating margin
- -32.0%
- 434% YoY
- EBITDA
- −$795M
- 959% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $811M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear35% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.1B | $2.8B | $2.8B | $2.7B | $2.7B | 1.0% |
| Operating income | $114M | $187M | $32M | −$162M | −$873M | 439% |
| Net income | $98M | $186M | −$25M | −$329M | −$989M | 201% |
| Operating cash flow | $170M | $83M | $168M | $263M | $114M | 57% |
| Capex | $27M | $54M | $40M | $26M | $25M | 1.2% |
| Stock-based comp | $28M | $25M | $43M | $58M | $74M | 27% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $57K · 2
- Net
- −$57K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 51 | 121 |
| FY2024 | — | — | 55 | 107 |
| FY2023 | — | — | 103 | 104 |