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

Fortrea brought in $2.7B of revenue in fiscal 2025, Veracyte $517.1M in fiscal 2025. Revenue changed by +1.0% at Fortrea and +16.0% at Veracyte on the year before, so Veracyte grew faster. Fortrea kept -36.2% of its revenue as net profit, Veracyte 12.8%. Free cash flow was $88.3M at Fortrea and $126.6M at Veracyte.

Side by side, latest fiscal year

FTREVCYT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.7B$517.1M
Revenue growth+1.0%+16.0%
Net income-$986.2M$66.4M
Net margin-36.2%12.8%
Free cash flow$88.3M$126.6M
Free cash flow margin3.2%24.5%
Earnings per share (diluted)-$10.81$0.82
Cash$174.6M$362.6M
Debt$1.1Bn/a
Price to earningsn/a55.4
Market value$1.9B$3.7B
Dividend yieldn/an/a
Rank by revenue in sector#91 of 523 · Health care#190 of 523 · Health care

Over the years

Revenue
FTRE FY2021: $3.1BFTRE FY2023: $2.8BFTRE FY2023: $2.8BFTRE FY2024: $2.7BFTRE FY2025: $2.7BVCYT FY2018: $92MVCYT FY2019: $120.4MVCYT FY2020: $117.5MVCYT FY2021: $219.5MVCYT FY2022: $296.5MVCYT FY2023: $361.1MVCYT FY2024: $445.8MVCYT FY2025: $517.1MFY18FY19FY20FY21FY22FY23FY24FY25
FTRE $2.7BVCYT $517.1M
Net income
FTRE FY2021: $98MFTRE FY2023: $186.2MFTRE FY2023: -$25.2MFTRE FY2024: -$328.5MFTRE FY2025: -$986.2MVCYT FY2018: -$23MVCYT FY2019: -$12.6MVCYT FY2020: -$34.9MVCYT FY2021: -$75.6MVCYT FY2022: -$36.6MVCYT FY2023: -$74.4MVCYT FY2024: $24.1MVCYT FY2025: $66.4MFY18FY19FY20FY21FY22FY23FY24FY25
FTRE -$986.2MVCYT $66.4M
Net margin
FTRE FY2021: 3.2%FTRE FY2023: 6.6%FTRE FY2023: -0.9%FTRE FY2024: -12.2%FTRE FY2025: -36.2%VCYT FY2018: -25.0%VCYT FY2019: -10.5%VCYT FY2020: -29.7%VCYT FY2021: -34.4%VCYT FY2022: -12.3%VCYT FY2023: -20.6%VCYT FY2024: 5.4%VCYT FY2025: 12.8%FY18FY19FY20FY21FY22FY23FY24FY25
FTRE -36.2%VCYT 12.8%
Revenue growth
FTRE FY2023: -7.2%FTRE FY2023: +0.2%FTRE FY2024: -5.1%FTRE FY2025: +1.0%VCYT FY2019: +30.8%VCYT FY2020: -2.4%VCYT FY2021: +86.8%VCYT FY2022: +35.1%VCYT FY2023: +21.8%VCYT FY2024: +23.5%VCYT FY2025: +16.0%FY19FY20FY21FY22FY23FY24FY25
FTRE +1.0%VCYT +16.0%
Free cash flow
FTRE FY2021: $143.3MFTRE FY2023: $28.3MFTRE FY2023: $128.1MFTRE FY2024: $237.3MFTRE FY2025: $88.3MVCYT FY2018: -$15.4MVCYT FY2019: -$6MVCYT FY2020: -$12.5MVCYT FY2021: -$37MVCYT FY2022: -$1MVCYT FY2023: $34.3MVCYT FY2024: $63.8MVCYT FY2025: $126.6MFY18FY19FY20FY21FY22FY23FY24FY25
FTRE $88.3MVCYT $126.6M

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

Questions about Fortrea and Veracyte

Which is bigger by revenue, Fortrea or Veracyte?

Fortrea is bigger by revenue: $2.7B in fiscal 2025, against $517.1M for Veracyte in fiscal 2025.

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

Fortrea had a net margin of -36.2% in fiscal 2025; Veracyte had 12.8% in fiscal 2025.

Which grew revenue faster, Fortrea or Veracyte?

In their latest fiscal years revenue changed by +1.0% at Fortrea and +16.0% at Veracyte.

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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