Fortrea Holdings (Fortrea Holdings) Days Payable : 18.17 (As of Dec. 2023)

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What is Fortrea Holdings Days Payable?

Fortrea Holdings's average Accounts Payable for the three months ended in Dec. 2023 was $131 Mil. Fortrea Holdings's Cost of Goods Sold for the three months ended in Dec. 2023 was $656 Mil. Hence, Fortrea Holdings's Days Payable for the three months ended in Dec. 2023 was 18.17.

The historical rank and industry rank for Fortrea Holdings's Days Payable or its related term are showing as below:

FTRE' s Days Payable Range Over the Past 10 Years
Min: 9 Med: 10.59 Max: 15.5
Current: 15.5

During the past 4 years, Fortrea Holdings's highest Days Payable was 15.50. The lowest was 9.00. And the median was 10.59.

FTRE's Days Payable is ranked worse than
93.17% of 717 companies
in the Biotechnology industry
Industry Median: 147.46 vs FTRE: 15.50

Fortrea Holdings's Days Payable increased from Dec. 2022 (12.40) to Dec. 2023 (18.17). It may suggest that Fortrea Holdings delayed paying its suppliers.

Fortrea Holdings Days Payable Historical Data

The historical data trend for Fortrea Holdings's Days Payable 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.

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Fortrea Holdings Days Payable Chart

Fortrea Holdings Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Days Payable

9.00

10.59

15.11

Fortrea Holdings Quarterly Data
	Dec20	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Payable	Get a 7-Day Free Trial					12.40	13.13	14.61	16.47	18.17

Competitive Comparison of Fortrea Holdings's Days Payable

For the Biotechnology subindustry, Fortrea Holdings's Days Payable, along with its competitors' market caps and Days Payable 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 Days Payable Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Fortrea Holdings's Days Payable distribution charts can be found below:

* The bar in red indicates where Fortrea Holdings's Days Payable falls into.

Fortrea Holdings Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Fortrea Holdings's Days Payable for the fiscal year that ended in Dec. 2023 is calculated as

	Days Payable (A: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Dec. 2022 )	+	Accounts Payable (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (81.5	+	132.8)	/	2 )	/	2588.6	*	365
=	107.15					/	2588.6	*	365
=	15.11

Fortrea Holdings's Days Payable for the quarter that ended in Dec. 2023 is calculated as:

	Days Payable (Q: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Sep. 2023 )	+	Accounts Payable (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (128.3	+	132.8)	/	2 )	/	655.7	*	365 / 4
=	130.55					/	655.7	*	365 / 4
=	18.17

Fortrea Holdings Days Payable 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 » Days Payable

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