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Fortrea Holdings Inc. FTRE Clinical Services Segment — Pass through costs

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Other financials

Income statement

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Revenue$636.5M-2.3%
Gross profit$123.6M+6.1%
Operating income-$3.4M+99.3%
Net income-$23.6M+95.8%
EPS (diluted)-$0.25+96.0%

Balance sheet

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Cash & equivalents$147.5M+45.2%
Total debt$1.1B-13.1%
Total equity$525.9M-38.8%
Total assets$2.7B-14.0%

Cash flow

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Operating cash flow-$17.0M+86.3%
CapEx$8.0M+176%
Free cash flow-$25.0M+80.3%

Valuation

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Market cap$1.61B+29.3%
Enterprise value$2.58B-0.8%
P/S0.6×+0.1×

Profitability

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Gross margin18.9%-1.3pp
Operating margin-13.1%-4.1pp
Net margin-16.5%-5.0pp
FCF margin5.8%+1.7pp

Returns & leverage

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Return on equity-64.5%0.0pp
Debt / equity2.1×+0.6×
Current ratio0.9×0.0×

Where this comes from

Reported directly by Fortrea Holdings Inc. in its filing.

Tagged under the XBRL concept us-gaap:OperatingCostsAndExpenses.

The official record: Fortrea Holdings Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fortrea Holdings Inc.'s clinical services segment — pass through costs?
Fortrea Holdings Inc. (FTRE) reported clinical services segment — pass through costs of $229.9M in Q1 2026.
How has Fortrea Holdings Inc.'s clinical services segment — pass through costs changed year-over-year?
Fortrea Holdings Inc.'s clinical services segment — pass through costs decreased by 4.2% year-over-year, from $239.9M to $229.9M.
What is the long-term trend for Fortrea Holdings Inc.'s clinical services segment — pass through costs?
Over 3 years (2022 to 2025), Fortrea Holdings Inc.'s clinical services segment — pass through costs has grown at a 11.3% compound annual growth rate (CAGR), from $745.3M to $1.03B.
What does clinical services segment — pass through costs mean?
Refers to third-party expenses incurred by the segment on behalf of clients during clinical trials, such as investigator fees or laboratory costs, which are typically reimbursed. Monitoring these costs helps assess the segment's operational efficiency in managing external vendor relationships and client billing.