Fortrea
FTRE · Biotechnology
$23.63
1.2%United Therapeutics
UTHR · Biotechnology
$587.50
0.5%The short version
- United Therapeutics is the larger business, with $3.2B of revenue in fiscal 2025 against $2.7B for Fortrea.
- United Therapeutics grew revenue faster (10.6%, against 1.0%).
- United Therapeutics kept more of each dollar of sales as operating profit (46.9% operating margin, against −32.0% operating margin).
- United Therapeutics turned more of its sales into free cash flow (32.7% FCF margin, against 3.2% FCF margin).
| Latest fiscal year | FTRE · FY25 | UTHR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.2B | $26.9B |
| Revenue | $2.7B | $3.2B |
| Free cash flow | $88.3M | $1.0B |
| Net income | −$986M | $1.3B |
| Growth | ||
| Revenue growth | 1.0% | 10.6% |
| 5-year growth | — | 16.5% |
| Share count change | — | −1.2% |
| Profitability | ||
| Gross margin | — | 87.9% |
| Operating margin | −32.0% | 46.9% |
| Net margin | −36.2% | 41.9% |
| FCF margin | 3.2% | 32.7% |
| Return on capital | −36.2% | — |
| Return on equity | −102.4% | 19.7% |
| Balance sheet | ||
| Net debt | $878M | — |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $0.0M | $1.0B |
| Valuation & quality | ||
| P/E | — | 21.0x |
| Piotroski F-score | — | — |
FY16
FTRE —
UTHR $1.6B
FY17
FTRE —
UTHR $1.7B
FY18
FTRE —
UTHR $1.6B
FY19
FTRE —
UTHR $1.4B
FY20
FTRE —
UTHR $1.5B
FY21
FTRE $3.1B
UTHR $1.7B
FY22
FTRE $2.8B
UTHR $1.9B
FY23
FTRE $2.8B
UTHR $2.3B
FY24
FTRE $2.7B
UTHR $2.9B
FY25
FTRE $2.7B
UTHR $3.2B
FTRE
UTHR
FY16
FTRE —
UTHR 66.4%
FY17
FTRE —
UTHR 47.2%
FY18
FTRE —
UTHR 49.5%
FY19
FTRE —
UTHR −13.0%
FY20
FTRE —
UTHR 40.0%
FY21
FTRE 3.7%
UTHR 33.0%
FY22
FTRE 6.6%
UTHR 50.6%
FY23
FTRE 1.1%
UTHR 50.9%
FY24
FTRE −6.0%
UTHR 47.9%
FY25
FTRE −32.0%
UTHR 46.9%
FTRE
UTHR
FY16
FTRE —
UTHR $606M
FY17
FTRE —
UTHR $388M
FY18
FTRE —
UTHR $594M
FY19
FTRE —
UTHR −$290M
FY20
FTRE —
UTHR $696M
FY21
FTRE $143M
UTHR $477M
FY22
FTRE $28.3M
UTHR $664M
FY23
FTRE $128M
UTHR $748M
FY24
FTRE $237M
UTHR $1.1B
FY25
FTRE $88.3M
UTHR $1.0B
FTRE
UTHR
FY16
FTRE —
UTHR —
FY17
FTRE —
UTHR —
FY18
FTRE —
UTHR —
FY19
FTRE —
UTHR —
FY20
FTRE —
UTHR —
FY21
FTRE —
UTHR —
FY22
FTRE —
UTHR —
FY23
FTRE 0.8%
UTHR —
FY24
FTRE −4.6%
UTHR —
FY25
FTRE −36.2%
UTHR —
FTRE
UTHR
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.