The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Fortrea Holdings's Revenue for the
three
months ended in Mar. 2024 was $662 Mil. Fortrea Holdings's average Accounts Receivable for the
three
months ended in Mar. 2024 was $711 Mil.
Hence, Fortrea Holdings's Receivables Turnover for the
three
months ended in Mar. 2024 was 0.93.
Fortrea Holdings Receivables Turnover Historical Data
The historical data trend for Fortrea Holdings's Receivables Turnover 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.
Competitive Comparison of Fortrea Holdings's Receivables Turnover
For the Biotechnology subindustry, Fortrea Holdings's Receivables Turnover, along with its competitors' market caps and Receivables Turnover 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 Receivables Turnover Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Fortrea Holdings's Receivables Turnover distribution charts can be found below:
* The bar in red indicates where Fortrea Holdings's Receivables Turnover falls into.
Fortrea Holdings Receivables Turnover Calculation
Receivables Turnover measures the number of times a company collects its average accounts receivable balance.
Fortrea Holdings's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.
Fortrea Holdings Receivables Turnover Related Terms
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Fortrea Holdings (Fortrea Holdings) Business Description
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.
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