# Fortrea Holdings Inc. (FTRE) · Edgar & Edgarette company card

> Fortrea Holdings (FTRE) grew revenue 1.0% in FY2025 to $2.7 billion, operating margin -32.0% against a -12.4% median for medical laboratories, equity 20.7% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1965040 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/FTRE) · [JSON](https://www.pops4.com/boards/company/FTRE.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $2.7B |
| Revenue growth, 1 year | 1.0% |
| Revenue growth per year | -2.9% |
| Operating margin | -32.0% (prior year -6.0%) |
| Net margin | -36.2% |
| Operating cash flow | $114M |
| Capital spending | $25M |
| Free cash flow | $88M |
| Cash | $175M |
| Long-term debt | $1.1B |
| Total assets | $2.7B |
| Total equity | $564M |
| Equity ÷ assets | 20.7% |
| Return on equity | -175.0% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -3.58 (distress zone)
- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Sound ship · one warning sign · operating loss: a margin of -32.0% in FY2025
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $2.7B (FY2025), total debt $1.1B. Experience: revenue up 1.0% on the year, down 2.9% a year over 4 years; operating margin -32.0%, down from -6.0%. Soundness: equity 20.7% of assets, return on equity -175.0%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.4B and $2.9B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $2.3B to $3.1B. A statistical range, not company guidance. Against peers (17 filers, $50M+ revenue, services-medical laboratories): operating margin -32.0% against a -12.4% median; growth 1.0% against 13.8%.

Range logged 2026-10-01, receipt d65978dc48f826ce, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 5, latest 2026-09-30 ([filing](https://www.sec.gov/Archives/edgar/data/1965040/000162828026063970/0001628280-26-063970-index.htm))

## Recent filings

- 10-Q · filed 2026-10-29 · [filing](https://www.sec.gov/Archives/edgar/data/1965040/000162828026068248/0001628280-26-068248-index.htm)
- 8-K · filed 2026-10-29 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1965040/000196504026000146/0001965040-26-000146-index.htm)
- 8-K · filed 2026-09-30 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1965040/000162828026063970/0001628280-26-063970-index.htm)
- 8-K · filed 2026-09-10 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/1965040/000162828026061218/0001628280-26-061218-index.htm)
- 10-Q · filed 2026-07-29 · [filing](https://www.sec.gov/Archives/edgar/data/1965040/000162828026050597/0001628280-26-050597-index.htm)
- 8-K · filed 2026-07-29 · 2.02 Results of Operations and Financial Condition; 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1965040/000162828026050368/0001628280-26-050368-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001965040.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1965040

## Cite

POPS4, Edgar & Edgarette: Fortrea Holdings Inc. (FTRE) company card, from the company's own SEC filings, accessed 2026-11-15, https://www.pops4.com/boards/company/FTRE. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.