Tetra Tech Inc

Services-Engineering Services

TTEKMixed9 of 11 basics passed

$33.34

-0.21%

Market cap $8.54B

$33.34

-0.21%

Market cap $8.54B

Tetra Tech Inc provides consulting and engineering services for environmental, infrastructure, resource management, energy, and international development markets. It specializes in providing water-related services for public and private clients.

It is a $8.54B technology company. Revenue grew 10.0% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~1.1 years of free cash flow. It trades at 19.6× earnings — near the lowest of its own history.

Website: tetratech.com
Location: Pasadena, CA
Employees: 25 000
Sector: Technology
Founded: 1966

Share price · 3 years

$32.23 → $33.34+3.4%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $5.07B
Profit: keeps 9¢ of every $1 sold; $436M
Free cash flow: cash left after running the business; $548M
Net debt: debt minus cash on hand; $596M
P/E: years of profit in the price; 19.6
EPS: earnings per share, TTM; $1.63
Dividend: pays out 16% of profit · 13% of FCF; 0.81%
Shares: down 9% since 2016 — buybacks; 267.1M
Volatility: beta vs the market — under 1 swings less; 0.90

Revenue, last 10 years

52-week range

Low $26.18$33.34High $42.61

Today's price is 44% of the way from the year's low to its high.

P/E vs its history5y

19.6×median 34.0×

Higher than 7% of past days — near the lowest of its own history.

Valuation vs own history

P/E

19.6×

93%

P/S

1.9×

75%

EV/EBITDA

15.4×

95%

P/B

4.6×

92%

FCF yield

6.4%

93%

Share of the last ~5 years that was pricier than today (unusually cheap vs its own history). Based on the daily valuation record.

Standing in Technology

Size$8.54Btop 92%
Revenue growth+18%top 30%
Net margin10%top 61%
Return on equity24%top 37%
P/E19.6×top 23%
Dividend yield0.81%top 53%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation and quality; Growth and Health lag behind.

Valuation90

P/E vs own history7th pct · 25/25
FCF yield6.4% · 20/25
P/S2.0x · 25/25
EV/EBITDA13.5x · 20/25

Growth38

Revenue CAGR14.1% · 20/25
Net income CAGR1.6% · 6/25
EPS CAGR ~5Y8.0% · 12/25
Fwd implied growth-4.2% · 0/25

Profitability57

ROIC10.4% · 12/25
ROE23.8% · 20/25
Net margin8.6% · 13/25
Operating margin14.1% · 12/25

Health49

Altman Zn/a · 0/25
Current ratio1.18 · 12/25
Interest coverage13.3x · 25/25
Net cash / debtD/A 14% · 12/25

Quality85

Piotroski F6/9 · 15/25
Beneish M-2.49 · 20/25
FCF conversion126% · 25/25
Margin stabilityσ 2.3% · 25/25

Moat62

ROIC >12% years9/10 yrs · 25/25
Median gross margin15.2% · 0/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 3.2% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2024Financial
Best year on record
$333M net income
2024Acquisition
Tetra Tech announced the acquisition of LS Technologies, a Fairfax Virginia based contracting firm
2023Acquisition
Tetra Tech completed its largest-ever acquisition in January 2023
2022Acquisition
Tetra acquired The Integration Group of Americas (TIGA), a systems integration and engineering…
2021Acquisition
Tetra Tech acquired Coanda Research and Development Corporation, a Canadian engineering consulting…
2019Acquisition
Tetra Tech acquired the UK-based professional consultancy firm White Young Green in 2019
2018Acquisition
Tetra Tech acquired Bridgenet
2017Acquisition
Tetra Tech acquired Glumac in October 2017
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $1B
$2.58B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
2015Acquisition
Coffey International was purchased
1982Acquisition
Honeywell purchased Tetra Tech's U.S. operations and another group acquired Tetra Tech International
1966Founded
Tetra Tech, Inc. was founded in 1966 as the Water Management Group of Tetra Tech Inc., by Nicholas Boratynski, Henri…

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$10 877 today — price return only

$5.4B revenue in FY2025

Revenue up 10.0% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

25 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Interest covered 13.3× by operating earnings

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+10.0% YoY
Profitable — makes more than it spends$436M TTM
Profit growing — earnings are higher than last year-1.5% YoY
Generates cash — cash left after running and investing$548M TTM
Debt under control — could handle its obligations~1.1y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$8.54B market cap
Not printing shares — share count not ballooning — you keep your slice-2.9% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 37/100
Pays a dividend — returns cash to shareholdersyield 0.81%
Valuation not extreme — price not wildly above earningsP/E 19.6

Peer comparisonTetra Tech Inc vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
TTEK this company	$8.5B	19.6	+10.0%	8.6%	Mixed
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: TTEK vs NVDA · TTEK vs AAPL · TTEK vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 4Buy 7Hold 4

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $5.07B · net income $436M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$5.07B

YoY 10.0%

Net income (TTM)

$436M

Margin 8.6%

Gross margin

21.8%

Operating margin

14.1%

P/E ratio

19.6

Dividend yield

0.81%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	3.0	3.2	2.8	4.5	4.3	5.4
Gross profit	0.4	0.5	0.6	0.7	0.9	1.0
Operating income (EBIT)	0.2	0.3	0.3	0.4	0.5	0.4
Net income	0.2	0.2	0.3	0.3	0.3	0.2
EPS (diluted)	0.63	0.85	0.99	1.02	1.25	0.93

Cash flowFree cash flow $548M · operating cash flow $567M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$548M

Margin 10.8%

Operating cash flow (TTM)

$567M

FCF margin

10.8%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.3	0.3	0.3	0.4	0.4	0.5
Capital expenditure	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0
Free cash flow	0.3	0.3	0.3	0.3	0.3	0.4
FCF margin	8.4%	9.2%	11.5%	7.6%	7.9%	8.1%

Balance sheetAssets $4.28B · net debt $596M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $4.28B of assets is financed

58%

42%

Liabilities $2.50B — borrowed moneyEquity $1.78B — owners' stake

Cash vs debt

Total debt $763M − cash $167M = net debt $596M

Cash on hand covers 22% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

13.3x

EBIT ÷ interest expense

ROE

23.8%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.2	0.2	0.2	0.2	0.2	0.2
Total assets	2.4	2.6	2.6	3.8	4.2	4.3
Total liabilities	1.3	1.3	1.4	2.4	2.4	2.5
Total debt	0.3	0.2	0.5	0.9	1.0	0.8
Equity	1.0	1.2	1.2	1.4	1.8	1.8
Net debt	0.1	0.0	0.3	0.7	0.8	0.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of TTEK on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $33.34 · market cap $8.54B.