TETRA TECH INC TTEK
Tetra Tech, Inc. ("Tetra Tech") is a leading global provider of high-end consulting and engineering services that focuses on water, environment and sustainable infrastructure. We are a global company that is Leading with Science® to provide innovative solutions for our public and private clients. We typically begin at the earliest stage of a project by identifying technical solutions and developing execution plans tailored to our clients' needs and resources.
Tetra Tech is Leading with Science® to provide sustainable and resilient solutions to our clients' most complex needs. Engineering News-Record ("ENR"), the engineering industry's leading magazine, has ranked Tetra Tech #1 in Water Treatment and Desalination for 12 years in a row. In 2025, we were also ranked #1 in consulting studies, environmental management, environmental science, wind power, hydro plants, site assessment and compliance, and green government offices. ENR also ranked Tetra Tech in the Top 10 in numerous categories, including dams and reservoirs, marine and port facilities, power, solar power, solid waste, chemical and soil remediation, and hazardous waste.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.44B | $5.20B | $4.52B | $3.50B | $3.21B | $2.99B | $3.11B | $2.96B | $2.75B | $2.58B |
| Cost of revenue | $825.2M | $876.8M | $771.5M | — | — | — | — | — | — | — |
| Gross profit | $961.3M | $866.4M | $725.0M | $575.6M | $498.4M | $446.5M | $408.2M | $384.5M | $353.6M | $330.2M |
| Operating income | $408.4M | $500.7M | $358.1M | $340.4M | $278.7M | $241.1M | $188.8M | $190.1M | $183.3M | $135.9M |
| Interest expense | $40.6M | $44.6M | $52.4M | $13.4M | $12.7M | $14.5M | $15.4M | $17.3M | $12.3M | $12.4M |
| Pre-tax income | $377.6M | $463.5M | $401.0M | $348.8M | $266.9M | $228.0M | $175.1M | $174.6M | $171.8M | $124.5M |
| Income tax | $129.7M | $130.0M | $127.5M | $85.6M | $34.0M | $54.1M | $16.4M | $37.6M | $53.8M | $40.6M |
| Net income | $247.9M | $333.4M | $273.5M | $263.2M | $232.8M | $173.9M | $158.8M | $137.0M | $117.9M | $83.9M |
| EPS, basic | 0.94 | 1.25 | 1.03 | 0.98 | 4.31 | 3.21 | 2.89 | 2.46 | 2.07 | 1.44 |
| EPS, diluted | 0.93 | 1.23 | 1.02 | 0.97 | 4.26 | 3.16 | 2.84 | 2.42 | 2.04 | 1.42 |
| Shares, diluted (wtd. avg.) | $267.1M | $270.0M | $268.2M | $270.8M | $54.7M | $55.0M | $55.9M | $56.6M | $57.9M | $59.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $167.5M | $232.7M | $168.8M | $185.1M | $166.6M | $157.5M | $120.9M | $148.9M | $192.7M | $163.0M |
| Receivables | $1.16B | $1.05B | $974.5M | $755.1M | $669.0M | $649.0M | $768.7M | $694.2M | $788.8M | $714.3M |
| Total current assets | $1.62B | $1.53B | $1.36B | $1.16B | $1.07B | $999.8M | $1.08B | $1.05B | $1.04B | $935.4M |
| Property, plant and equipment | $66.1M | $73.1M | $74.8M | $32.3M | $37.7M | $35.5M | $39.4M | $43.3M | $56.8M | $67.8M |
| Goodwill | $2.05B | $2.05B | $1.88B | $1.11B | $1.11B | $993.5M | $924.8M | $798.8M | $740.9M | $718.0M |
| Other intangibles | $121.2M | $160.6M | $173.9M | $29.2M | $38.0M | $13.9M | $16.4M | $16.1M | $26.7M | $49.0M |
| Total assets | $4.28B | $4.19B | $3.82B | $2.62B | $2.58B | $2.38B | $2.15B | $1.96B | $1.90B | $1.80B |
| Accounts payable | $204.7M | $197.4M | $173.3M | $147.4M | $128.8M | $111.8M | $206.6M | $160.2M | $177.6M | $158.8M |
| Short-term debt | — | — | $0 | $12.5M | $12.5M | $49.3M | $12.5M | — | — | — |
| Total current liabilities | $1.38B | $1.22B | $1.21B | $916.0M | $848.5M | $793.5M | $770.0M | $618.1M | $537.7M | $481.1M |
| Long-term debt | $763.4M | $812.6M | $879.5M | $246.2M | $200.0M | $242.4M | $263.9M | — | — | — |
| Retained earnings | $1.87B | $1.87B | $1.60B | $1.39B | $1.36B | $1.20B | $1.07B | $945.0M | $832.6M | $736.4M |
| Total equity | $1.78B | $1.83B | $1.40B | $1.18B | $1.23B | $1.04B | $989.5M | $967.1M | $928.6M | $869.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $457.7M | $358.7M | $368.5M | $336.2M | $304.4M | $262.5M | $208.5M | $185.7M | $141.5M | $142.0M |
| Depreciation and amortisation | $58.3M | $73.7M | $61.2M | $27.0M | $23.8M | $24.6M | $28.8M | $38.6M | $45.8M | $45.6M |
| Stock-based compensation | $33.9M | $31.2M | $28.6M | $26.2M | $23.1M | $19.4M | $17.6M | $19.6M | $13.4M | $13.0M |
| Capital expenditure | $18.6M | $18.1M | $26.9M | $10.6M | $8.6M | $12.2M | $16.2M | $9.7M | $9.7M | $11.9M |
| Investing cash flow | -$106.8M | -$111.0M | -$771.2M | -$55.7M | -$93.0M | -$63.0M | -$99.7M | -$42.6M | -$17.0M | -$94.0M |
| Financing cash flow | -$410.2M | -$191.4M | $382.4M | -$249.6M | -$210.1M | -$163.0M | -$135.1M | -$182.0M | -$98.3M | -$25.4M |
| Dividends paid | $65.0M | $58.8M | $52.1M | $46.1M | $40.0M | $34.7M | $29.7M | $24.5M | $21.7M | $19.7M |
| Buybacks | $250.0M | $0 | $0 | $200.0M | $60.0M | $117.2M | $100.0M | $75.0M | $100.0M | $99.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000831641-25-000032.
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