What is Fortrea Holdings Inc.'s net debt / EBITDA?

Fortrea Holdings Inc. (FTRE) reported net debt / EBITDA of 19.5× in Q1 2024.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

Fortrea Holdings Inc. FTRE Net debt / EBITDA

Net debt / EBITDA at other companies

Charles River LaboratoriesCRL

4.1×+0.6×

IQVIAIQV

4×+0.3×

Medpace Holdings, Inc.MEDP

-0.9×+0.6×

BrightSpring Health Services, Inc.BTSG

3.4×-3.7×

Astrana HealthASTH

4.2×+2.4×

Labcorp HoldingsLH

2.9×-0.6×

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.

net debt/ebitda=19.5×

Based on the most recent quarter.

The official record: Fortrea Holdings Inc.’s 10-Q, filed May 12, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Fortrea Holdings Inc.'s net debt / EBITDA?: Fortrea Holdings Inc. (FTRE) reported net debt / EBITDA of 19.5× in Q1 2024.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.