Fortrea Holdings Inc. (FTRE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Fortrea Holdings Inc. stock $4.22, price $21.96, that is 80.8% below the price, quality 38 out of 100. Rating: strongly overvalued. Calculated from audited financials with 8 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
41‑month range $4.06 – $40.28 · fair‑value band $1.09 – $6.67 · the $21.96 price screens above the $4.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Fortrea Holdings Inc., a contract research organization, provides biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology, and medical device customers worldwide.
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It offers clinical pharmacology, such as clinical research units, external partnerships, project management, study design and monitoring, bioanalytics and biomarkers, pharmacokinetics, modeling and simulation, and biometrics; and clinical development, including phase I through IV clinical and real-world evidence studies, regulatory affairs, protocol design, operational planning, study and site start-up, patient recruitment, project management, comprehensive site and medical monitoring, data management and biostatistics, pharmacovigilance, medical writing, and mobile clinical services.
The company also provides consulting services comprising product development and regulatory, market access and health economics, and outcomes research, as well as RWE services. Fortrea Holdings Inc. was incorporated in 2023 and is headquartered in Durham, North Carolina.
Stock analysis
Fortrea Holdings Inc. (FTRE) currently trades at $21.96, while our model-based Fair Value estimate is $4.22, 81% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $5.82 per share, and 0 of the 8 models we run sit above the $21.96 price.
Bear case: the Multiples group reads lowest at $2.14, and 8 of the 8 models stay below the price. Data coverage for this calculation is low.
Scenario range: $1.09 (bear) to $6.67 (bull), the price of $21.96 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 38/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Fortrea Holdings Inc. reported revenue of $2.7B in FY2025 versus $3.1B in FY2021, a compound −2.9%/yr. Reported net income was −$986M in FY2025.
Key figures
Market cap $2.1B Mid · P/S ratio 0.77 · EPS (TTM) $−0.7300 · Net margin −2.6% · Return on equity −12.3% · Return on assets (EBIT) 0.4% (5-year average) · Operating margin 2.3% · Revenue (TTM) $2.7B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 16 out of 100 (medium confidence).
What moves the price
The share trades about 15% below its 52-week high and 148% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −81%, FTRE screens richer than that median.
Fair Value models
Bear$1.09Fair Value $4.22Bull$6.67
Price $21.96 · Downside -80.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 6 officers or directors sold shares worth $4.5M and none bought.
SaleMark A. MoraisChief Operating Officer7× since Feb 10, 2026: 25,163 shares, avg. $14.73$370,748Sep 9, 2026
SaleCarrie Elizabeth RussellInterim CAO246 shares at $16.85$4,145Sep 9, 2026
SaleAnshul ThakralChief Executive Officer, Director2× since Aug 5, 2026: 211,726 shares, avg. $18.61$3.9MAug 6, 2026
SaleMachelle SandersDirector9,700 shares at $18.01$174,697Aug 3, 2026
SaleJill G. McconnellChief Financial Officer4× since Feb 10, 2026: 12,612 shares, avg. $11.90$150,139Jun 2, 2026
SaleRobert ParksChief Accounting Officer2× since Mar 10, 2026: 3,927 shares, avg. $11.30$44,358May 18, 2026
Plus 13 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.31/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.1%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−12.2% (2020) → −1.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+25.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +22.1% a year for the price and −0.4% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 558 stocks
Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score38 · Below median
Fair Value upside−80.8% · Bottom 25%
Profitability
Return on assets−36.3% · Bottom 25%
Net margin (12 months)−2.6% · Below median
Operating margin (12 months)2.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)−1.4% · Below median
Balance sheet
Debt / equity1.86× · Highest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/B3.67× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.78× · Cheapest 25%
Price / free cash flow (fiscal year)23.5× · Cheaper than median
EV/EBITDA24.9× · Pricier than median
PEG0.34× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 0
HEALTH (low debt)7· sector 97
DIVIDEND (yield)0· sector 22
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Fortrea Holdings Inc. Fair Value". https://www.fairvalue-calculator.com/stock/FTRE
Frequently asked questions
Is Fortrea Holdings Inc. (FTRE) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $4.22 versus a price of $21.96, about 81% lower (overvalued).
What is the fair value of FTRE?
Our model-based fair value for Fortrea Holdings Inc. is $4.22 (as of Nov 4, 2026), built from audited fundamentals. The current price: $21.96.
What is the quality score of FTRE?
Fortrea Holdings Inc. has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Fortrea Holdings Inc. (FTRE)?
Our model-based price target is the fair value of $4.22 (as of Nov 4, 2026) from 8 valuation models. Cautious scenario $1.09, optimistic scenario $6.67. It is a calculation from audited fundamentals, not an analyst target.
What is the Fortrea Holdings Inc. stock forecast for 2026?
Our models put fair value at $4.22, about 81% lower versus a price of $21.96 (overvalued). Cautious scenario $1.09, optimistic scenario $6.67. The calculation is refreshed regularly with new filings.
What is the revenue of Fortrea Holdings Inc. (FTRE)?
Fortrea Holdings Inc. reported trailing-twelve-month revenue of about $2.7B (latest available figure, as of Nov 4, 2026).
What growth is priced into Fortrea Holdings Inc. (FTRE)?
For today's price to be fair in a discounted-cash-flow model, Fortrea Holdings Inc. would have to grow free cash flow by +25.0 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.1 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of FTRE use?
Our models discount Fortrea Holdings Inc. at 11.9 %: a base by market capitalisation (mid), damped by beta 1.91, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fortrea Holdings Inc. that is +25.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Fortrea Holdings Inc. (FTRE) delivered so far?
Over the past 5 years revenue at Fortrea Holdings Inc. grew +1.1 % a year. The price currently implies free-cash-flow growth of +25.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fortrea Holdings Inc. (FTRE) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Fortrea Holdings Inc. (+25.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fortrea Holdings Inc. (FTRE)?
The free-cash-flow yield on the price is 4.26 %: that much free cash flow Fortrea Holdings Inc. produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fortrea Holdings Inc. (FTRE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fortrea Holdings Inc. it is $4.22 per share (as of Nov 4, 2026), against a price of $21.96. It is the blended result of 8 valuation models in 3 families (DCF Models, Multiples, Growth DCF).
Is Fortrea Holdings Inc. stock overvalued or undervalued in 2026?
As of Nov 4, 2026, FTRE trades above its calculated fair value: price $21.96, fair value $4.22, a gap of about −81% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FTRE?
No. The price is what the market pays today ($21.96); the fair value is what the company's own numbers justify ($4.22). For Fortrea Holdings Inc. the two are $17.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fortrea Holdings Inc. worth?
The market values Fortrea Holdings Inc. at about $2.1B (market capitalisation, as of Nov 4, 2026). Per share that is $21.96; our models calculate a fair value of $4.22 per share.
What do the bullish and bearish scenarios say about FTRE?
Our models span a range for Fortrea Holdings Inc.: cautious scenario $1.09, base $4.22, optimistic $6.67 per share (as of Nov 4, 2026, price $21.96). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of FTRE?
The PEG ratio of Fortrea Holdings Inc. is 0.34 (P/E divided by earnings growth, as of Nov 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Fortrea Holdings Inc. (FTRE)?
Balance-sheet figures for Fortrea Holdings Inc. (as of Nov 4, 2026): return on equity −12.3%, debt of 1.86 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is FTRE from its 52-week high?
Fortrea Holdings Inc. trades at $21.96, about 15% below its 52-week high of $25.88 and 148% above the low of $8.87 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $4.22 is for.
Which stocks are comparable to Fortrea Holdings Inc.?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Fortrea Holdings Inc. stock attractive at the current price?
The data as of Nov 4, 2026: price $21.96, calculated fair value $4.22 (−81%), Quality Score 38/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FTRE calculated?
We run Fortrea Holdings Inc. through 8 models from 3 families: DCF Models, Multiples, Growth DCF. Every model gets the same audited fundamentals; the fair value of $4.22 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Fortrea Holdings Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Fortrea Holdings Inc. (FTRE)?
The closing price on Nov 6, 2026 was $21.96. Our model-based fair value is $4.22, about 81% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fortrea Holdings Inc. right now?
The price sits above even our optimistic bull case ($6.67). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide ($1.09 to $6.67). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Fortrea Holdings Inc.
How large is the market capitalisation of Fortrea Holdings Inc. (FTRE)?
The market capitalisation of Fortrea Holdings Inc. is $2.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Fortrea Holdings Inc. (FTRE)?
The price-to-sales ratio of Fortrea Holdings Inc. is 0.77 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fortrea Holdings Inc. (FTRE)?
Earnings per share at Fortrea Holdings Inc. are $−0.7300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fortrea Holdings Inc. (FTRE)?
The net margin of Fortrea Holdings Inc. is −2.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Fortrea Holdings Inc. (FTRE)?
The return on equity (ROE) of Fortrea Holdings Inc. is −12.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Fortrea Holdings Inc. (FTRE)?
On an EBIT basis the return on assets of Fortrea Holdings Inc. is 0.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Fortrea Holdings Inc. (FTRE)?
The operating margin of Fortrea Holdings Inc. is 2.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fortrea Holdings Inc. (FTRE)?
Revenue at Fortrea Holdings Inc. is growing −1.4% versus a year earlier (3y avg −1.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Fortrea Holdings Inc. (FTRE)?
Earnings per share at Fortrea Holdings Inc. are growing −57.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fortrea Holdings Inc. (FTRE) carry?
The net debt of Fortrea Holdings Inc. is $941M (fiscal year 2025, ≈ 10.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 4, 2026