Fortrea Holdings Inc. cash flow statement

In fiscal 2025, Fortrea Holdings Inc.'s operations generated $114m of cash; it spent $25.2m on capital projects, leaving free cash flow of $88.3m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fortrea Holdings Inc.: cash flow statement, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash from operations	170	83	168	263	114	202
Depreciation and amortisation	166	94	98	87	78	79
Stock-based pay	28	25	43	58	74	51
Capital spending	27	54	40	26	25	33
Free cash flow	143	28	128	237	88	169
Free cash flow after stock pay	116	3	85	179	14	118

US$ millions unless shown otherwise. Fiscal quarters.

Fortrea Holdings Inc.: cash flow statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Cash from operations	17	−124	22	87	129	−17	29	61
Depreciation and amortisation	21	20	20	20	19	20	20	20
Stock-based pay	15	15	23	22	15	11	13	12
Capital spending	−3	3	8	7	8	8	9	8
Free cash flow	20	−127	14	80	122	−25	20	53
Free cash flow after stock pay	5	−142	−8	57	107	−36	7	41

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Fortrea Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Fortrea Holdings Inc.