FTRE
Fortrea Holdings Inc.
FTRE's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over FTRE overall, supported by lower modeled downside and stronger fundamentals.
FTRE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Weak |
FTRE's cash flow is currently healthy, and its revenue and profitability are stable, but its balance sheet is weak.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
FTRE PE Valuation
FTRE has no meaningful PE right now: it lost money over the past year.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
FTRE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect FTRE's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over FTRE on the outlook, with more favorable revenue expectations.
FTRE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.95 | — |
| Q3 2026 | -$0.63 | +$10.61 |
| Q2 2026 | -$0.81 | +$10.57 |
| Q1 2026 | -$4.81 | +$3.98 |
| Q4 2025 | -$10.81 | -$7.14 |
| Q3 2025 | -$11.24 | -$7.84 |
| Q2 2025 | -$11.38 | -$8.14 |
| Q1 2025 | -$8.79 | -$7.42 |
| Q4 2024 | -$3.67 | -$3.57 |
FTRE is still losing money, but far less than before: $0.63 per share over the past year, against $11.38 at its worst in mid-2025.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY has the edge over FTRE on earnings quality, reporting a profit while its opponent remains loss making.
FTRE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $691.5M | -1.4% |
| Q2 2026 | $678.2M | -4.5% |
| Q1 2026 | $636.5M | -2.3% |
| Q4 2025 | $660.5M | -5.2% |
| Q3 2025 | $701.3M | +3.9% |
| Q2 2025 | $710.3M | +7.2% |
| Q1 2025 | $651.3M | -1.6% |
| Q4 2024 | $697M | -10% |
FTRE's revenue has held roughly level: $692M last quarter, down 1.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.2% | +3.4 points |
| Q2 2026 | 2.2% | +49 points |
| Q1 2026 | -0.5% | +79 points |
| Q4 2025 | -2.1% | +5.9 points |
| Q3 2025 | -1.2% | +1.4 points |
| Q2 2025 | -47% | -39 points |
| Q1 2025 | -80% | -74 points |
| Q4 2024 | -8% | -6.6 points |
FTRE's operating margin was 2.2% last quarter, up 3.4 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY has the edge over FTRE on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over FTRE on profitability, with a higher operating margin.
FTRE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $52.5M | -34% |
| Q2 2026 | $19.9M | +39% |
| Q1 2026 | -$25M | +$102.1M |
| Q4 2025 | $121.6M | +499% |
| Q3 2025 | $79.5M | +$90.1M |
| Q2 2025 | $14.3M | -95% |
| Q1 2025 | -$127.1M | -$92.2M |
| Q4 2024 | $20.3M | +577% |
FTRE's free cash flow has turned positive again: $169M over the past year, against −$13M the year before.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY has the edge over FTRE on cash flow, with more consistent year-over-year improvement.
FTRE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +6.8% | +6.4M shares |
| 1 year | +9.5% | +8.8M shares |
| 3 years | +14% | +12.4M shares |
FTRE has 101M diluted shares, up 9.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has the edge over FTRE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
FTRE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 9.1x | High |
| Q2 2026 | 13.1x | High |
| Q2 2024 | 118.8x | High |
| Q1 2024 | 15.7x | High |
| Q4 2023 | 10.0x | High |
| Q3 2023 | 10.6x | High |
| Q2 2023 | 7.5x | High |
| Q1 2023 | 6.2x | High |
FTRE's net debt is about 9.1 years of its operating earnings (EBITDA), down from 10 years a year ago.
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY has the edge over FTRE on leverage, with a lower net debt burden relative to earnings.
FTRE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.3 | Neutral |
| Stochastic | 49.9 | Neutral |
FTRE's weekly RSI is 55 (neutral) and its Stochastic is 50 (neutral).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
FTRE PE vs Healthcare Sector
FTRE has no meaningful PE right now: it lost money over the past year.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
FTRE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.3 | 5.7% below |
| 20 week MA | $19.5 | 3% above |
| 50 week MA | $15.9 | 26% above |
| 100 week MA | $12.9 | 56% above |
LLY has stronger trend alignment. FTRE is above 3 of 4 weekly averages versus LLY above 5 of 5.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY is in an uptrend: it's above all five of its weekly moving averages, and 79% above its 200-week average.
FTRE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $34.0 | $34.9 | +2.6% |
| 2024 | $34.9 | $19.4 | -45% |
| 2025 | $19.4 | $17.4 | -10% |
| 2026 YTD | $17.4 | $20.1 | +15% |
FTRE has finished lower in two of the last three years. It's up 15% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over FTRE on returns for 2026, with the stronger performance.