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Fortrea Holdings Inc. (FTRE)
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Upturn Advisory Summary
01/07/2026: FTRE (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
12 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $14.25
1 Year Target Price $14.25
| 0 | Strong Buy |
| 1 | Buy |
| 10 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 15.95% | Avg. Invested days 31 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/07/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.62B USD | Price to earnings Ratio - | 1Y Target Price 14.25 |
Price to earnings Ratio - | 1Y Target Price 14.25 | ||
Volume (30-day avg) 12 | Beta 1.57 | 52 Weeks Range 3.97 - 19.00 | Updated Date 01/7/2026 |
52 Weeks Range 3.97 - 19.00 | Updated Date 01/7/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -11.35 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -36.77% | Operating Margin (TTM) -0.53% |
Management Effectiveness
Return on Assets (TTM) -1.32% | Return on Equity (TTM) -98.13% |
Valuation
Trailing PE - | Forward PE 19.27 | Enterprise Value 2674848000 | Price to Sales(TTM) 0.59 |
Enterprise Value 2674848000 | Price to Sales(TTM) 0.59 | ||
Enterprise Value to Revenue 0.97 | Enterprise Value to EBITDA 92.35 | Shares Outstanding 92400000 | Shares Floating 91862232 |
Shares Outstanding 92400000 | Shares Floating 91862232 | ||
Percent Insiders 0.55 | Percent Institutions 104.51 |
Upturn AI SWOT
Fortrea Holdings Inc.
Company Overview
History and Background
Fortrea Holdings Inc. was established in 2022 as a spin-off from Thermo Fisher Scientific. It emerged as an independent, publicly traded company focused on providing clinical research services to the pharmaceutical and biotechnology industries. This separation allowed Fortrea to concentrate on its core competencies in clinical development and commercialization, aiming to accelerate drug development timelines for its clients.
Core Business Areas
- Clinical Development Services: Fortrea offers a comprehensive suite of clinical development services, including Phase I-IV clinical trial management, regulatory affairs, data management, biostatistics, and medical writing. They partner with pharmaceutical and biotechnology companies to design, execute, and monitor clinical trials.
- Biomarker Services: The company provides advanced biomarker discovery, validation, and testing services. This includes leveraging genomic, proteomic, and other molecular technologies to identify predictive and prognostic markers for drug efficacy and patient stratification.
- Technology and Data Solutions: Fortrea leverages technology platforms to enhance clinical trial efficiency and data integrity. This includes electronic data capture (EDC) systems, clinical trial management systems (CTMS), and advanced analytics for real-time data insights.
Leadership and Structure
Fortrea Holdings Inc. is led by a management team with extensive experience in the pharmaceutical and CRO (Contract Research Organization) industries. The organizational structure is designed to support its global operations and service delivery, with specialized teams for different therapeutic areas and functional expertise. The CEO is Richard M. Begley.
Top Products and Market Share
Key Offerings
- Comprehensive Clinical Trial Management: Fortrea provides end-to-end management of clinical trials across all phases (I-IV) and therapeutic areas. This includes site selection, patient recruitment, data collection, monitoring, and regulatory submission support. Competitors include IQVIA, PPD (part of Thermo Fisher Scientific prior to spin-off), Syneos Health, and Covance (part of Labcorp).
- Biomarker Discovery and Development: Specialized services for identifying, validating, and implementing biomarkers in drug development. This is a critical area for precision medicine. Competitors include specialized genomics companies, larger CROs with dedicated biomarker divisions, and academic research institutions.
- Regulatory Consulting and Submissions: Expertise in navigating complex regulatory landscapes and preparing submission dossiers for global health authorities. Competitors include specialized regulatory consulting firms and larger CROs.
Market Dynamics
Industry Overview
The contract research organization (CRO) industry is characterized by strong growth driven by the increasing complexity and cost of drug development, the outsourcing trend by pharmaceutical and biotechnology companies, and the growing demand for specialized services like precision medicine and real-world evidence. The industry is highly competitive and fragmented, with a mix of large global players and smaller niche providers.
Positioning
Fortrea is positioned as a mid-sized, independent CRO aiming to differentiate itself through agility, customer focus, and specialized expertise in key therapeutic areas. Its spin-off from Thermo Fisher Scientific provides it with a foundational client base and operational infrastructure, but it faces the challenge of establishing its distinct brand identity and expanding its market share against larger, more established competitors.
Total Addressable Market (TAM)
The global CRO market is substantial and growing, with estimates often exceeding $60 billion and projected to grow at a CAGR of over 8-10% in the coming years. Fortrea operates within this large TAM, focusing on its core service offerings. Its positioning is to capture a significant share of this market by offering specialized expertise and efficient service delivery, competing for a portion of the outsourced clinical development spend.
Upturn SWOT Analysis
Strengths
- Established operational infrastructure and experienced personnel inherited from Thermo Fisher Scientific.
- Focus on core clinical development services, allowing for specialization and expertise.
- Potential for agility and customer-centricity as an independent entity.
- Established relationships with pharmaceutical and biotech clients.
Weaknesses
- As a newly independent company, brand recognition may be lower than established competitors.
- May face challenges in scaling operations and infrastructure rapidly to meet growing demand.
- Dependence on a few key clients or therapeutic areas could pose a risk.
- Potential need for significant investment in technology and innovation to keep pace.
Opportunities
- Growing outsourcing trend in drug development.
- Increasing demand for specialized services like precision medicine and biomarker development.
- Expansion into new geographic markets.
- Strategic partnerships and collaborations to enhance service offerings.
- Leveraging data analytics and AI to improve clinical trial efficiency.
Threats
- Intense competition from large, well-established CROs.
- Regulatory changes and evolving compliance requirements.
- Economic downturns impacting R&D budgets of pharmaceutical companies.
- Talent acquisition and retention challenges in a competitive industry.
- Data security and privacy concerns in clinical trial management.
Competitors and Market Share
Key Competitors
- IQVIA Inc. (IQV)
- Syneos Health, Inc. (SYNH)
- Laboratory Corporation of America Holdings (LH)
- ICON plc (ICLR)
Competitive Landscape
Fortrea faces a highly competitive landscape dominated by larger, more established players like IQVIA and Labcorp. Its competitive advantages will stem from its ability to offer specialized services, maintain agility, and provide personalized client relationships. Its primary disadvantages include its smaller scale, limited brand recognition as an independent entity, and the need to build out its full service capabilities from its initial offering.
Growth Trajectory and Initiatives
Historical Growth: Fortrea's historical growth is intertwined with that of Thermo Fisher Scientific's clinical research services segment prior to its spin-off. As an independent entity, its growth trajectory will be shaped by its strategic execution and market adoption.
Future Projections: Future projections for Fortrea will depend on analyst estimates based on its market position, service offerings, and the overall growth of the CRO industry. Key drivers will include its ability to secure new contracts, expand its client base, and introduce innovative services.
Recent Initiatives: Key initiatives would likely revolve around building its independent brand, expanding its service capabilities, optimizing its operational efficiency, and forging new strategic partnerships to accelerate its growth as a standalone CRO.
Summary
Fortrea Holdings Inc. is a newly spun-off CRO with a strong foundation in clinical research services. Its strengths lie in its specialized offerings and experienced team, but it faces significant competition from larger players. Opportunities for growth exist in the expanding outsourcing market and advancements in precision medicine. Fortrea needs to focus on building brand awareness, scaling its operations effectively, and differentiating its services to secure a strong market position.
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Sources and Disclaimers
Data Sources:
- Company filings (SEC)
- Financial news outlets
- Industry research reports
- Analyst reports
Disclaimers:
This analysis is based on publicly available information and may not be exhaustive. Financial data and market share estimates are subject to change and should be independently verified. This information is for informational purposes only and does not constitute financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Fortrea Holdings Inc.
Exchange NASDAQ | Headquaters Durham, NC, United States | ||
IPO Launch date 2023-07-03 | CEO & Director Mr. Anshul Thakral | ||
Sector Healthcare | Industry Biotechnology | Full time employees 14500 | Website https://www.fortrea.com |
Full time employees 14500 | Website https://www.fortrea.com | ||
Fortrea Holdings Inc., a contract research organization, provides biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology, and medical device customers worldwide. It offers clinical services that provides development and consulting services to clinical pharmacology and clinical development spectrum. The company also offers delivery models that include full service, functional service provider, and hybrid service structures. In addition, it delivers phase I " IV clinical trial management, clinical pharmacology, and consulting services. Fortrea Holdings Inc. enters into a strategic collaboration with Emery Pharma to provide rapid lot-by-lot, 1-methyl-4-nitrosopiperazine (MNP) testing of rifampin, the preferred drug for drug-drug interaction studies, to certify impurities are below the Acceptable Intake Limit set by U.S. Food and Drug Administration guidelines. The company has a strategic collaboration with SCT Cell Manufacturing s.r.o. to streamline development, accelerate timelines and bring advanced therapies to patients faster. Fortrea Holdings Inc. was incorporated in 2023 and is headquartered in Durham, North Carolina.
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