A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
TETRA TECH INC
TTEK
$8.4B
Mkt Cap
$31.71
+3.73%
TETRA TECH INC (TTEK) has a current P/E ratio of 23.8, compared to its historical median P/E of 28.8. The stock is currently considered Cheap based on its historical valuation range.
TETRA TECH INC (TTEK) has a 5-year average return on invested capital (ROIC) of 15.8%. This indicates strong capital allocation and a potential competitive advantage.
TETRA TECH INC (TTEK) has a market capitalization of $8.2B. It is classified as a mid-cap stock.
Yes, TETRA TECH INC (TTEK) pays a dividend with a trailing twelve-month yield of 0.83%. The company also returns capital through share buybacks, with a buyback yield of 2.15%.
Based on historical P/E analysis, TETRA TECH INC (TTEK) appears cheap. The current P/E of 23.8 is 17% below its historical median of 28.8. The estimated fair value CAGR (P/E method) is 15.8%.
TETRA TECH INC (TTEK) operates in the Services-Engineering Services industry, within the Industrials sector.
TETRA TECH INC (TTEK) reported annual revenue of $5.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Tetra Tech is a leading global provider of high-end consulting and engineering services focused on water, environment, and sustainable infrastructure, operating across more than 100 countries with over 25,000 associates. The company earns revenue through project-based consulting and engineering work, combining interdisciplinary capabilities and technical expertise to deliver solutions across water treatment, environmental management, climate adaptation, and infrastructure modernization for both public and private clients. Tetra Tech's business model emphasizes front-end consulting and design work, which carries higher margins, supported by strong project management discipline and long-term client relationships that generate repeat business and institutional knowledge advantages. The company's competitive differentiation stems from its proprietary "Tetra Tech Delta" technologies and solutions, including advanced data analytics, artificial intelligence, machine learning, and digital tools that enable first-of-a-kind solutions for complex challenges in coastal flooding, water security, energy transition, and biodiversity protection. Revenue is distributed across four primary customer segments—U.S. federal government, U.S. state and local, U.S. commercial, and international—with geographic presence on all seven continents, and the company has been ranked #1 by Engineering News-Record in water treatment and desalination for 12 consecutive years and in multiple other categories including consulting studies, environmental management, and wind power.
【Strong backlog momentum driving growth】 Management expects continued revenue growth across all customer segments in the second half of fiscal 2026, with U.S. federal work accelerating as clients deploy funding for civil works and defense facility modernization, U.S. commercial growing through water management for mining and power generation permitting, international expanding at 5–10% supported by strength in the United Kingdom, Ireland, and the Netherlands, and state and local growing in the high single digits. The company anticipates margin expansion to continue in line with its long-term strategic goal of improving EBITDA margins by 50 basis points annually, driven by the higher embedded margins in front-end consulting and design work that comprises an increasing proportion of the backlog. Management views the second quarter as an inflection point for backlog growth following U.S. federal budget clarity and expects sustained momentum through the remainder of the year, with visibility supported by contracted, funded, and authorized work and no anticipated government shutdowns.
| Metric | Target | Period |
|---|---|---|
| Net Revenue | $1.05–$1.1 billion | Q3 FY2026 |
| Adjusted Earnings Per Share | $0.38–$0.41 | Q3 FY2026 |
| Net Revenue | $4.25–$4.4 billion | FY2026 |
| Adjusted Earnings Per Share | $1.50–$1.58 | FY2026 |
Net Revenue (Q3 FY2026): “For the third quarter, net revenue guidance is from $1.05 to $1.1 billion.”
Adjusted Earnings Per Share (Q3 FY2026): “Adjusted earnings per share guidance is from $0.38 to $0.41.”
Net Revenue (FY2026): “For the fiscal year 2026, our increased net revenue guidance is from $4.25 to $4.4 billion”
Adjusted Earnings Per Share (FY2026): “our increased adjusted earnings per share guidance is from $1.50 to $1.58.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 5.1B | 5.4B | 5.2B | 4.5B | 3.5B | 3.2B |
| Net Income | 440M | 248M | 333M | 273M | 263M | 233M |
| EPS | $1.69 | $0.93 | $0.25 | $1.03 | $0.19 | $0.85 |
| Free Cash Flow | 669M | 439M | 341M | 342M | 326M | 296M |
| ROIC | 18.0% | 11.2% | 15.9% | 13.8% | 19.1% | 19.0% |
| Gross Margin | 18.7% | 17.7% | 16.7% | 16.0% | 16.4% | 15.5% |
| Debt/Equity | 0.47 | 0.43 | 0.44 | 0.63 | 0.22 | 0.17 |
| Dividends/Share | $0.26 | $0.25 | $0.04 | $0.20 | $0.03 | $0.15 |
| Operating Income | 619M | 408M | 501M | 358M | 340M | 279M |
| Operating Margin | 12.1% | 7.5% | 9.6% | 7.9% | 9.7% | 8.7% |
| ROE | 23.6% | 13.7% | 20.6% | 21.1% | 21.8% | 20.5% |
| Shares Outstanding | 260M | 266M | 1,355M | 266M | 1,356M | 273M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.5B | 2.3B | 2.6B | 2.8B | 3.0B | 3.1B | 3.0B | 3.2B | 3.5B | 4.5B | 5.2B | 5.4B | 5.1B |
| Gross Margin | 11.4% | 13.7% | 12.8% | 12.8% | 13.0% | 13.1% | 14.9% | 15.5% | 16.4% | 16.0% | 16.7% | 17.7% | 18.7% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.4B | 3.8B | 4.2B | 4.2B |
| EBIT | 154M | 88M | 136M | 183M | 190M | 189M | 241M | 279M | 340M | 358M | 501M | 408M | 619M |
| Op. Margin | 6.2% | 3.8% | 5.3% | 6.7% | 6.4% | 6.1% | 8.1% | 8.7% | 9.7% | 7.9% | 9.6% | 7.5% | 12.1% |
| Net Income | 108M | 39M | 84M | 118M | 137M | 159M | 174M | 233M | 263M | 273M | 333M | 248M | 440M |
| Net Margin | 4.4% | 1.7% | 3.2% | 4.3% | 4.6% | 5.1% | 5.8% | 7.2% | 7.5% | 6.0% | 6.4% | 4.6% | 8.6% |
| Non-Recurring | -58K | 64M | 537K | 103K | -1.0M | 8.0M | 27M | 110K | -103K | 0 | 0 | 92M | 92M |
| Returns on Capital | |||||||||||||
| ROIC | 10.7% | 5.3% | 7.9% | 8.4% | 9.9% | 11.7% | 13.6% | 19.0% | 19.1% | 13.8% | 15.9% | 11.2% | 18.0% |
| ROE | 10.8% | 4.2% | 9.7% | 13.1% | 14.4% | 16.2% | 17.2% | 20.5% | 21.8% | 21.1% | 20.6% | 13.7% | 23.6% |
| ROA | 6.1% | 2.3% | 5.0% | 6.4% | 7.1% | 7.7% | 7.7% | 9.4% | 10.1% | 8.5% | 8.3% | 5.8% | 10.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 127M | 163M | 142M | 141M | 186M | 209M | 262M | 304M | 336M | 368M | 359M | 458M | 688M |
| Free Cash Flow | 108M | 139M | 130M | 132M | 176M | 192M | 250M | 296M | 326M | 342M | 341M | 439M | 669M |
| Owner Earnings | 62M | 108M | 83M | 82M | 128M | 162M | 218M | 257M | 283M | 279M | 254M | 365M | 597M |
| CapEx | 19M | 24M | 12M | 9.7M | 9.7M | 16M | 12M | 8.6M | 11M | 27M | 18M | 19M | 19M |
| Maint. CapEx | 55M | 44M | 46M | 46M | 39M | 29M | 25M | 24M | 27M | 61M | 74M | 58M | 57M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 55M | 44M | 46M | 46M | 39M | 29M | 25M | 24M | 27M | 61M | 74M | 58M | 57M |
| CapEx/OCF | 15.2% | 14.9% | 8.4% | 6.9% | 5.2% | 7.8% | 4.7% | 2.8% | 3.1% | 7.3% | 5.1% | 4.1% | 2.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 9.0M | 18M | 20M | 22M | 24M | 30M | 35M | 40M | 46M | 52M | 59M | 65M | 68M |
| Dividend Yield | 0.6% | 1.3% | 1.2% | 0.9% | 0.8% | 0.8% | 0.8% | 0.6% | 0.1% | 0.7% | 0.1% | 0.7% | 0.8% |
| Share Buybacks | 80M | 101M | 100M | 100M | 75M | 100M | 117M | 60M | 200M | 0 | 0 | 250M | 177M |
| Buyback Yield | 5.3% | 7.2% | 5.1% | 4.0% | 2.0% | 2.2% | 2.3% | 0.8% | 2.9% | N/A | N/A | 2.8% | 2.2% |
| Stock-Based Comp | 10M | 11M | 13M | 13M | 20M | 18M | 19M | 23M | 26M | 29M | 31M | 34M | 35M |
| Debt Repayment | 4.4M | 75M | 149M | 234M | 486M | 415M | 331M | 414M | 117M | 14M | 0 | 2.7M | 2.7M |
| Balance Sheet | |||||||||||||
| Net Debt | 81M | 58M | 533M | 523M | 408M | 432M | 134M | 46M | 74M | 711M | 580M | 596M | 657M |
| Cash & Equiv. | 122M | 135M | 160M | 190M | 146M | 121M | 158M | 167M | 185M | 169M | 233M | 167M | 224M |
| Long-Term Debt | 193M | 181M | 332M | 341M | 265M | 264M | 242M | 200M | 246M | 880M | 813M | 763M | 880M |
| Debt/Equity | 0.20 | 0.23 | 0.80 | 0.77 | 0.57 | 0.56 | 0.28 | 0.17 | 0.22 | 0.63 | 0.44 | 0.43 | 0.47 |
| Interest Coverage | 14.9 | 10.9 | 11.0 | 14.9 | 11.0 | 12.3 | 16.7 | 21.9 | 25.5 | 6.8 | 11.2 | 10.0 | 169.2 |
| Equity | 1.0B | 856M | 869M | 928M | 967M | 989M | 1.0B | 1.2B | 1.2B | 1.4B | 1.8B | 1.8B | 1.9B |
| Total Assets | 1.8B | 1.6B | 1.8B | 1.9B | 2.0B | 2.1B | 2.4B | 2.6B | 2.6B | 3.8B | 4.2B | 4.3B | 4.4B |
| Total Liabilities | 764M | 703M | 932M | 974M | 992M | 1.2B | 1.3B | 1.3B | 1.4B | 2.4B | 2.4B | 2.5B | -23M |
| Intangibles | 63M | 40M | 49M | 27M | 16M | 16M | 14M | 38M | 29M | 174M | 161M | 121M | 129M |
| Retained Earnings | 651M | 672M | 736M | 833M | 945M | 1.1B | 1.2B | 1.4B | 1.4B | 1.6B | 1.9B | 1.9B | 2.0B |
| Working Capital | 395M | 373M | 454M | 504M | 432M | 310M | 206M | 217M | 242M | 148M | 308M | 242M | 313M |
| Current Assets | 899M | 824M | 935M | 1.0B | 1.1B | 1.1B | 1000M | 1.1B | 1.2B | 1.4B | 1.5B | 1.6B | 1.5B |
| Current Liabilities | 504M | 450M | 481M | 538M | 618M | 770M | 793M | 848M | 916M | 1.2B | 1.2B | 1.4B | 1.2B |
| Per Share Data | |||||||||||||
| EPS | 0.33 | 0.13 | 0.28 | 0.41 | 0.48 | 0.57 | 0.63 | 0.85 | 0.19 | 1.03 | 0.25 | 0.93 | 1.69 |
| Owner EPS | 0.19 | 0.35 | 0.28 | 0.28 | 0.45 | 0.58 | 0.79 | 0.94 | 0.21 | 1.05 | 0.19 | 1.37 | 2.30 |
| Book Value | 3.10 | 2.81 | 2.95 | 3.21 | 3.42 | 3.54 | 3.77 | 4.52 | 0.87 | 5.27 | 1.35 | 6.68 | 7.18 |
| Cash Flow/Share | 0.39 | 0.53 | 0.48 | 0.49 | 0.66 | 0.75 | 0.95 | 1.11 | 0.25 | 1.38 | 0.26 | 1.72 | 1.91 |
| Dividends/Share | 0.03 | 0.06 | 0.07 | 0.08 | 0.09 | 0.11 | 0.13 | 0.15 | 0.03 | 0.20 | 0.04 | 0.25 | 0.26 |
| Shares Out. | 326.1M | 305.3M | 295.0M | 288.9M | 282.8M | 279.3M | 275.1M | 273.3M | 1.4B | 266.2M | 1.4B | 266.4M | 259.5M |
| Valuation | |||||||||||||
| P/E Ratio | 13.9 | 35.5 | 23.4 | 21.4 | 26.9 | 28.7 | 28.9 | 33.7 | 25.9 | 29.8 | 37.3 | 35.7 | 18.8 |
| P/FCF | 13.9 | 10.0 | 15.1 | 19.1 | 20.9 | 23.7 | 20.1 | 26.5 | 105.0 | 23.7 | 182.7 | 20.2 | 12.3 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 22.1 | 28.9 | 19.8 | 24.3 | 25.6 | 22.7 | 14.4 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.8 | 5.8 | 6.8 | 5.0 | 4.4 |
| Price/Sales | 0.7 | 0.6 | 0.6 | 0.8 | 1.0 | 36.1 | 50.5 | N/A | 2.3 | 1.7 | 2.0 | 1.8 | 1.6 |
| FCF Yield | 7.2% | 10.0% | 6.6% | 5.2% | 4.8% | 4.2% | 5.0% | 3.8% | 4.8% | 4.2% | 2.7% | 5.0% | 8.1% |
| Market Cap | 1.5B | 1.4B | 2.0B | 2.5B | 3.7B | 4.6B | 5.0B | 7.8B | 6.8B | 8.2B | 12.4B | 8.8B | 8.2B |
| Avg. Price | 4.98 | 4.69 | 5.45 | 8.00 | 10.32 | 12.79 | 16.20 | 24.62 | 29.40 | 29.36 | 37.53 | 36.84 | 31.71 |
| Year-End Price | 4.61 | 4.54 | 6.65 | 8.72 | 13.00 | 16.30 | 18.29 | 28.72 | 25.22 | 30.42 | 45.92 | 33.21 | 31.71 |
TETRA TECH INC passes 6 of 9 quality checks, suggesting mixed fundamentals.
TETRA TECH INC trades at 23.8x trailing earnings, compared to its 15-year median P/E of 28.8x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 16.6x vs a median of 20.5x. The company's 5-year average ROIC is 15.8% with a gross margin of 16.5%. Total shareholder yield (dividends + buybacks) is 3.0%. At current prices, the estimated annualized return to fair value is +13.0%.
TETRA TECH INC (TTEK) has a net profit margin of 4.6%. This is a modest margin.
TETRA TECH INC (TTEK) generated $439 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TETRA TECH INC (TTEK) has a debt-to-equity ratio of 0.43. This indicates a conservatively financed balance sheet.
TETRA TECH INC (TTEK) reported earnings per share (EPS) of $0.93 in its most recent fiscal year.
TETRA TECH INC (TTEK) has a return on equity (ROE) of 13.7%. This indicates moderate shareholder returns.
TETRA TECH INC (TTEK) has a 5-year average gross margin of 16.5%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for TETRA TECH INC (TTEK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TETRA TECH INC (TTEK) has a book value per share of $6.68, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued revenue growth across all customer segments in the second half of fiscal 2026, with U.S. federal work accelerating as clients deploy funding for civil works and defense facility modernization, U.S. commercial growing through water management for mining and power generation permitting, international expanding at 5–10% supported by strength in the United Kingdom, Ireland, and the Netherlands, and state and local growing in the high single digits. The company anticipates margin expansion to continue in line with its long-term strategic goal of improving EBITDA margins by 50 basis points annually, driven by the higher embedded margins in front-end consulting and design work that comprises an increasing proportion of the backlog. Management views the second quarter as an inflection point for backlog growth following U.S. federal budget clarity and expects sustained momentum through the remainder of the year, with visibility supported by contracted, funded, and authorized work and no anticipated government shutdowns.
Based on recent SEC filings and earnings calls, TETRA TECH INC (TTEK) has provided the following forward guidance: Net Revenue: $1.05–$1.1 billion (Q3 FY2026); Adjusted Earnings Per Share: $0.38–$0.41 (Q3 FY2026); Net Revenue: $4.25–$4.4 billion (FY2026); Adjusted Earnings Per Share: $1.50–$1.58 (FY2026).