Fortrea reported $4.39B of remaining performance obligations at 30 Sep 2026, down 3% from a year earlier and down 1% from the previous quarter. That is 1.6 years of trailing revenue already under contract. Book-to-bill last quarter: 0.93.
Net new backlog added in the latest quarter: -$51.8M.
Over the last twelve months it turned about 59% of its opening backlog into revenue (12-month conversion).
26% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 0.1% of the backlog.
Twelve-month book-to-bill: 0.94, i.e. 0.94 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -0 points — revenue is catching up with orders.
By backlog size it ranks 121st among US filers the cockpit tracks.
Fortrea backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$4.39B
$2.67B
1.6 yrs
$6.00M
30 Jun 2026
$4.44B
$2.68B
1.7 yrs
$503M
31 Mar 2026
$4.62B
$2.71B
1.7 yrs
$481M
31 Dec 2025
$4.63B
$2.72B
1.7 yrs
$474M
30 Sep 2025
$4.55B
$2.76B
1.6 yrs
$412M
30 Jun 2025
$4.47B
$2.73B
1.6 yrs
$3.00M
31 Mar 2025
$4.49B
$2.69B
1.7 yrs
$3.00M
31 Dec 2024
$4.43B
$2.70B
1.6 yrs
$353M
30 Sep 2024
$4.49B
$2.71B
1.7 yrs
$321M
30 Jun 2024
$4.36B
$2.75B
1.6 yrs
$248M
31 Mar 2024
$4.30B
$2.81B
1.5 yrs
$237M
31 Dec 2023
$4.76B
$2.84B
1.7 yrs
$269M
Questions
What is Fortrea's backlog?
Fortrea reported $4.39B of remaining performance obligations at 30 Sep 2026, down 3% from a year earlier and down 1% from the previous quarter. That is 1.6 years of trailing revenue already under contract. Book-to-bill last quarter: 0.93.
How fast does Fortrea's backlog turn into revenue?
Over the last twelve months Fortrea recognised revenue equal to about 59% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.