Tetra Tech, Inc.
TTEK Industrials Engineering & Construction
Tetra Tech, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $5.4 billion, up 4.69% from fiscal 2024. In the quarter to June 2026, revenue fell 4.47%, EPS fell 2.33%, free cash flow fell 35.0% and total debt fell 7.12%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five; insiders bought in the last twelve months.
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Tetra Tech, Inc. (TTEK) Altman Z-score
Tetra Tech, Inc.'s Altman Z-score for fiscal 2025 is 4.38, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.38 | (1.16) |
| FY2024 | 5.55 | 1.42 |
| FY2023 | 4.13 | (1.36) |
| FY2022 | 5.49 | (0.56) |
| FY2021 | 6.05 | 1.33 |
| FY2020 | 4.72 | (0.36) |
| FY2019 | 5.08 | 0.01 |
| FY2018 | 5.07 | 0.74 |
| FY2017 | 4.33 | 0.44 |
| FY2016 | 3.89 | 0.07 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.06 | — | 0.07 | |
| Retained earnings / total assets | 0.44 | — | 0.61 | |
| EBIT / total assets | 0.10 | — | 0.31 | |
| Market value of equity / total liabilities | 3.53 | — | 2.12 | |
| Sales / total assets | 1.27 | — | 1.27 | |
| Altman Z-score | Safe zone | 4.38 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 3.18 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| IESC IES Holdings, Inc. compare | 10.6× |
| ECG Everus Construction Group, Inc. compare | 5.8× |
| STRL Sterling Infrastructure, Inc. compare | 5.6× |
| TTEK Tetra Tech, Inc. | 4.4× |
| MTZ MasTec, Inc. compare | 3.7× |
| FLR Fluor Corporation compare | 3.5× |
| DY Dycom Industries, Inc. compare | 3.4× |
| ACM AECOM compare | 2.6× |
| ACA Arcosa, Inc. compare | 2.5× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets