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Fortrea vs RadNet: revenue, profit, margins and growth compared

Fortrea brought in $2.7B of revenue in fiscal 2025, RadNet $2B in fiscal 2025. Revenue changed by +1.0% at Fortrea and +11.5% at RadNet on the year before, so RadNet grew faster. Fortrea kept -36.2% of its revenue as net profit, RadNet -0.9%.

Side by side, latest fiscal year

FTRERDNT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.7B$2B
Revenue growth+1.0%+11.5%
Net income-$986.2M-$18.7M
Net margin-36.2%-0.9%
Free cash flow$88.3Mn/a
Free cash flow margin3.2%n/a
Earnings per share (diluted)-$10.81-$0.25
Cash$174.6M$767.2M
Debt$1.1B$1.1B
Price to earningsn/an/a
Market value$1.9B$5.6B
Dividend yieldn/an/a
Rank by revenue in sector#91 of 523 · Health care#108 of 523 · Health care

Over the years

Revenue
FTRE FY2021: $3.1BFTRE FY2023: $2.8BFTRE FY2023: $2.8BFTRE FY2024: $2.7BFTRE FY2025: $2.7BRDNT FY2018: $975.1MRDNT FY2019: $1.2BRDNT FY2020: $1.1BRDNT FY2021: $1.3BRDNT FY2022: $1.4BRDNT FY2023: $1.6BRDNT FY2024: $1.8BRDNT FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
FTRE $2.7BRDNT $2B
Net income
FTRE FY2021: $98MFTRE FY2023: $186.2MFTRE FY2023: -$25.2MFTRE FY2024: -$328.5MFTRE FY2025: -$986.2MRDNT FY2018: $32.2MRDNT FY2019: $14.8MRDNT FY2020: -$14.8MRDNT FY2021: $24.7MRDNT FY2022: $10.7MRDNT FY2023: $3MRDNT FY2024: $2.8MRDNT FY2025: -$18.7MFY18FY19FY20FY21FY22FY23FY24FY25
FTRE -$986.2MRDNT -$18.7M
Net margin
FTRE FY2021: 3.2%FTRE FY2023: 6.6%FTRE FY2023: -0.9%FTRE FY2024: -12.2%FTRE FY2025: -36.2%RDNT FY2018: 3.3%RDNT FY2019: 1.3%RDNT FY2020: -1.4%RDNT FY2021: 1.9%RDNT FY2022: 0.7%RDNT FY2023: 0.2%RDNT FY2024: 0.2%RDNT FY2025: -0.9%FY18FY19FY20FY21FY22FY23FY24FY25
FTRE -36.2%RDNT -0.9%
Revenue growth
FTRE FY2023: -7.2%FTRE FY2023: +0.2%FTRE FY2024: -5.1%FTRE FY2025: +1.0%RDNT FY2019: +18.4%RDNT FY2020: -7.1%RDNT FY2021: +22.7%RDNT FY2022: +8.7%RDNT FY2023: +13.0%RDNT FY2024: +13.2%RDNT FY2025: +11.5%FY19FY20FY21FY22FY23FY24FY25
FTRE +1.0%RDNT +11.5%
Free cash flow
FTRE FY2021: $143.3MFTRE FY2023: $28.3MFTRE FY2023: $128.1MFTRE FY2024: $237.3MFTRE FY2025: $88.3MRDNT FY2018: $44.6MRDNT FY2019: $30.2MFY18FY19FY21FY23FY24FY25
FTRE $88.3MRDNT $30.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Fortrea and RadNet

Which is bigger by revenue, Fortrea or RadNet?

Fortrea is bigger by revenue: $2.7B in fiscal 2025, against $2B for RadNet in fiscal 2025.

Which keeps more of its revenue as profit, Fortrea or RadNet?

Fortrea had a net margin of -36.2% in fiscal 2025; RadNet had -0.9% in fiscal 2025.

Which grew revenue faster, Fortrea or RadNet?

In their latest fiscal years revenue changed by +1.0% at Fortrea and +11.5% at RadNet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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