Fortrea Holdings Inc., a contract research organization, provides biopharmaceutical product and medical device development solutions to pharmaceutical, biotechnology, and medical device customers worldwide.
FAIL · Does not pass the screen
23.63 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 6 days ago
Screened 2026-10-23 · the tape above runs as of 20:04 UTC · 28 Oct · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price23.63 USD at the 23 Oct 2026 close
Ethical screenDoes not pass
OptionsOpen interest leans heavily to calls (put/call 0.00)
Last reviewed23 Oct 2026 (6 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 23.63 against the desk's fair-value range, base estimate 16.59, over the last year.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.00, read 2026-10-23
Ethical does not pass the values gate
Price23.63 USD
Fair value16.59
Ethical score70.0/100
Our investment reviews on this name
2026-08-30Read Accumulation18.86+25.3% to today ✓Markup gives way to Accumulation after a 14% rise in 8 weeks
2026-07-02Read Markup16.48+43.4% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Fortrea Holdings Inc. holds its Accumulation at $23.63. Consolidating, no directional conviction, held for 50 days.
As held on the ledger · 2026-10-23
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 50 days
Price at the screen
$23.63
Valuation
N/A trailing · 21.15 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.91
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
41.09%
Below 33%
Interest-bearing debt is 41.1% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
10.61%
Below 49%
Money owed to the company is 10.6% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Fortrea's business is in a permissible area, but its interest-bearing debt is about 41% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
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Today FTRE does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 30.6% above the base estimate.
Third-party analyst targets: 12 covering, consensus Buy. The average target sits −3% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Contract research firm priced above its worth
Every clinical trial that gets delayed or cancelled leaves a contract research outfit like this one with empty labs and unpaid bills. Revenue is already shrinking 2 percent while the business posts a 16 percent loss margin and negative 65 percent return on equity. Our fair value sits at 13.84 dollars against a current price of 17.76 dollars, so the margin of safety runs negative 22 percent and the opportunity rating is none.
The forward price to earnings multiple of 16.5 times looks ordinary until the losses and shrinking top line are factored in. Eleven analysts still carry a buy rating with a median target near 18 dollars, yet the numbers show a firm that is not covering its cost of capital. Ethical screens clear the name, which removes one objection but leaves the valuation gap untouched.
High fixed costs in clinical work can turn small revenue drops into large losses quickly, and any recovery in biotech funding may take longer than the market expects. Peak cycle earnings are not on display here, so the current multiple offers no cushion. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; as a biotechnology name, trial and regulatory outcomes can move it sharply either way; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
FTRE trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Accumulation$23.92+0.0%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 54% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Accumulation$23.92+0.0%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 54% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Accumulation$23.92+0.0%Entry 13
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 54% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Accumulation$23.92+0.0%Entry 12
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 50% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Accumulation$23.92+0.0%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 50% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Accumulation$23.92+14.3%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 14.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 50% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Accumulation$20.92+0.0%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 50% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Accumulation$20.92+0.4%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 50% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16.
2026-10-14Accumulation$20.84+4.6%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading neutral. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16.
2026-10-02Accumulation$19.93+5.7%Entry 6
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 5.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading neutral. Over the past year the shares are up 208%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (11 analysts) rates it buy, with a mean price target of $16.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
