What is Fortrea Holdings Inc.'s net debt?

Fortrea Holdings Inc. (FTRE) reported net debt of $970.5M in Q1 2026.

How has Fortrea Holdings Inc.'s net debt changed year-over-year?

Fortrea Holdings Inc.'s net debt decreased by 18.1% year-over-year, from $1.18B to $970.5M.

What is the long-term trend for Fortrea Holdings Inc.'s net debt?

Over 3 years (2022 to 2025), Fortrea Holdings Inc.'s net debt has grown at a 171.6% compound annual growth rate (CAGR), from -$47M to $941.4M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Fortrea Holdings Inc. FTRE Net debt

Discontinued — last reported Q1 '26

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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$1.68B+248%

Enterprise value$2.65B+58.8%

P/S0.6×+0.4×

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

Calculated from Fortrea Holdings Inc.’s reported figures.

$1.1Btotal debt−$147.5Mcash and equivalents=$970.5M

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 net debt?: Fortrea Holdings Inc. (FTRE) reported net debt of $970.5M in Q1 2026.
How has Fortrea Holdings Inc.'s net debt changed year-over-year?: Fortrea Holdings Inc.'s net debt decreased by 18.1% year-over-year, from $1.18B to $970.5M.
What is the long-term trend for Fortrea Holdings Inc.'s net debt?: Over 3 years (2022 to 2025), Fortrea Holdings Inc.'s net debt has grown at a 171.6% compound annual growth rate (CAGR), from -$47M to $941.4M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.