Fortrea Holdings (Fortrea Holdings) EBIT : $7 Mil (TTM As of Mar. 2024)

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What is Fortrea Holdings EBIT?

Fortrea Holdings's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $-43 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $7 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fortrea Holdings's annualized ROC % for the quarter that ended in Mar. 2024 was -3.76%. Fortrea Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -46.04%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Fortrea Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 0.17%.

Fortrea Holdings EBIT Historical Data

The historical data trend for Fortrea Holdings's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Fortrea Holdings EBIT Chart

Fortrea Holdings Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

EBIT

102.50

136.60

237.20

70.90

Fortrea Holdings Quarterly Data
	Dec20	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial						15.50	39.60	16.70	-6.50	-43.20

Competitive Comparison of Fortrea Holdings's EBIT

For the Biotechnology subindustry, Fortrea Holdings's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Fortrea Holdings's EV-to-EBIT Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Fortrea Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Fortrea Holdings's EV-to-EBIT falls into.

Fortrea Holdings EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $7 Mil.

Fortrea Holdings (NAS:FTRE) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Fortrea Holdings's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-136 * ( 1 - -5.29% )	/	( (3913.7	+	3698.6)	/ 2 )
=	-143.1944	/	3806.15
=	-3.76 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4357.2	-	334.9	-	( 108.6	-	max(0, 775.9	-	1253.1	+	108.6	))
=	3913.7

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4250.7	-	459.3	-	( 92.8	-	max(0, 818.6	-	1204.5	+	92.8	))
=	3698.6

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Fortrea Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-172.8	/	( ( (220.9 + max(-178.9, 0))	+	(166.4 + max(363.3, 0)) )	/	2 )
=	-172.8	/	( ( 220.9	+	529.7 )	/	2 )
=	-172.8	/	375.3
=	-46.04 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(481	+	0	+	70.4)	-	(334.9	+	241.4	+	154)
=	-178.9

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(941	+	0	+	170.7)	-	(459.3	+	237.9	+	51.2)
=	363.3

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Fortrea Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	6.6	/	3879.807
	=	0.17 %

Fortrea Holdings EBIT Related Terms

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Fortrea Holdings (Fortrea Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Fortrea Holdings Inc (NAS:FTRE) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

K67:Germany

Address

8 Moore Drive, Durham, NC, USA, 27709

Website

https://www.fortrea.com

Fortrea Holdings is a late-stage contract research organization, or CRO, that provides comprehensive Phase I through IV clinical trial management, clinical pharmacology, and patient access solutions. The company works with emerging and large biopharma, medical device, and diagnostic companies to run their clinical trials as a functional-service provider, full-service provider, and offers hybrid trials. In 2023, Fortrea was formed as an independent, publicly traded company after LabCorp spun off its clinical development business, which it acquired via its purchase of Covance in 2015 for $6.1 billion. Fortrea has 19,000 staff members across 90 countries.

Executives

Thomas Pike	officer: Chief Executive Officer	C/O ACCENTURE, 161 N. CLARK STREET, 23RD FLOOR, CHICAGO IL 60601
Peter M Neupert	director	13920 SE EASTGATE WAY, STE 300, BELLEVUE WA 98005
Betty D Larson	director	GE HEALTHCARE TECHNOLOGIES INC., 500 W. MONROE, CHICAGO IL 60661
R Andrew Eckert	director	THREE RAVINIA DRIVE, ATLANTA GA 30346
Edward A Pesicka	director	9120 LOCKWOOD BLVD, MECHANICSVILLE VA 23116
Amrit Ray	director	60 LEVERONI COURT, NOVATO CA 94949
Amanda M. Warren	officer: Chief Accounting Officer	8 MOORE DRIVE, DURHAM NC 27703
David Ross Smith	director	251 BALLARDVALE STREET, WILMINGTON MA 01887
Van Der Vaart Sandra D	director, officer: President and Secretary	531 SOUTH SPRING STREET, BURLINGTON NC 27215
Glenn A Eisenberg	director, officer: Executive Vice President	P O BOX 1017, CHARLOTTE NC 28201-1017
James S. Hanson	officer: General Counsel	79 TW ALEXANDER DRIVE, 4501 RESEARCH COMMONS, SUITE 100, RESEARCH TRIANGLE PARK NC 27709
Laboratory Corp Of America Holdings	10 percent owner	358 S MAIN ST, BURLINGTON NC 27215
Jill G. Mcconnell	officer: Chief Financial Officer	8 MOORE DRIVE, DURHAM NC 27703
Mark A. Morais	officer: Chief Operating Officer	8 MOORE DRIVE, DURHAM NC 27703
Robert S. Pringle	officer: Treasurer	531 SOUTH SPRING STREET, BURLINGTON NC 27215