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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.

34.72 0.06 −0.17%
Market cap
$8.9B
P/E
20.8×
Fwd P/E
17.9×
Dividend yield
0.79%
F-score
6/9
Altman Z
4.38
Beneish M
−2.69
Dividend safety
92/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.05
Total sells 0.40
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — 1 — — — — —
Sell — — — 1 — — — — — — — —
Insider Ownership 1.33%

Capital & Financial Ratios $m

Market Cap 8,910.00
Revenue 5,069.48
Net Income 436.70
Free Cash Flow 548.25
Net Debt 570.22
Current Ratio 1.18
Debt/Equity 0.43 (at or below 0.5: strong)
P/E ratio 20.79
Fwd P/E 17.90
P/S ratio 1.77
P/B ratio 4.84
Past 5Y EPS Growth 8.03%
This Y EPS Growth 1.06%
Next Y EPS Growth 8.65%
Next Y revenue growth (20.04%) (below 0%: weak)
Next 5Y EPS Growth 6.79%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.9×, against a ten-year median of 1.8×; over the ten years it ranged from 0.7× in 2016 to 3.1× in 2021.
P/E against its own 10 years 7.00%
10-year low 10-year high
P/S against its own 10 years 56.87%
10-year low 10-year high
P/B against its own 10 years 47.18%
10-year low 10-year high
EV/Sales against its own 10 years 57.50%
10-year low 10-year high
EV/FCF against its own 10 years 17.03%
10-year low 10-year high

Dividends

Payout Ratio 0.17
Annual Dividend Rate 0.27
Annual Dividend Yield 0.79%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.21
0.07
0.07
0.07
2025 0.25
0.06
0.07
0.07
0.07
2024 0.23
0.05
0.06
0.06
0.06
2023 0.20
0.05
0.05
0.05
0.05
2022 0.18
0.04
0.05
0.05
0.05
2021 0.15
0.03
0.04
0.04
0.04
2020 0.13
0.03
0.03
0.03
0.03
2019 0.11
0.02
0.03
0.03
0.03
2018 0.09
0.02
0.02
0.02
0.02
2017 0.08
0.02
0.02
0.02
0.02
2016 0.07
0.02
0.02
0.02
0.02
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 169 233 167 231
Receivables 984 1,073 1,174 1,076
Inventory — — — —
Other 114 130 196 153
1,356 1,527 1,621 1,580
2023 2024 2025 Q'26
Payables 173 197 205 221
ST’ Debt — — — —
Other 667 627 758 722
1,208 1,220 1,379 1,334

Compound Annual Growth %

10y 5y 3y
Sales 9.00% 12.69% 15.81%
Cash Flow 10.89% 11.76% 10.83%
Earnings 20.28% 7.34% (1.99%)
Book Value 7.59% 11.41% 14.59%

Revenue $m

Dec Mar Jun Sep Year
’26 1,211 1,220 1,309 — —
’25 1,421 1,322 1,370 1,330 5,443
’24 1,228 1,252 1,344 1,374 5,199
’23 895 1,158 1,209 1,261 4,523
’22 859 853 890 903 3,504
’21 765 755 802 892 3,214
’20 798 734 710 753 2,995
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 72 165 229 — —
’25 13 (6) 350 101 458
’24 9 103 141 106 359
’23 25 88 133 122 368
’22 82 95 98 60 336
’21 33 124 69 78 304
’20 (18) 101 111 68 262
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 68 159 225 — —
’25 10 (11) 346 96 440
’24 6 99 138 99 341
’23 20 83 126 113 342
’22 84 91 96 58 330
’21 31 122 67 76 296
’20 (21) 105 119 66 268
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 0.40 0.36 0.42 — —
’25 0.00 0.02 0.43 0.48 0.93
’24 0.28 0.28 0.32 0.35 1.23
’23 0.44 0.16 0.22 0.20 1.02
’22 0.25 0.20 0.22 0.31 0.97
’21 0.19 0.17 0.19 0.30 0.85
’20 0.17 0.13 0.17 0.16 0.63
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 4.57 7.77 8.93 9.70 12.72 22.63 23.71 26.24 31.61 27.27

Analyst estimates 2026–2028

Powerpack
High 8.86 10.18 14.51 18.07 25.44 38.58 35.29 34.65 51.20 42.98
People
People Employees 16,000 16,000 17,000 20,000 20,000 21,000 21,000 27,000 30,000 25,000
Revenue/emp, $m 0.16 0.17 0.17 0.16 0.15 0.15 0.17 0.17 0.17 0.22
Income, $m
Income, $m Revenue 2,583 2,753 2,964 3,107 2,995 3,214 3,504 4,523 5,199 5,443
Gross margin, % 12.78 12.84 12.97 13.14 14.91 15.51 16.43 16.03 16.67 17.66
EBT 124 172 175 175 228 267 349 401 463 378
EBT margin, % 4.82 6.24 5.89 5.64 7.61 8.30 9.95 8.87 8.92 6.94
Net income 84 118 137 159 174 233 263 273 333 248
Depreciation 46 59 58 54 60 47 53 90 105 185
Per share, $
Per share, $ Revenue 8.88 9.68 10.65 11.30 11.04 11.88 13.07 17.00 19.44 20.56
Earnings 0.29 0.41 0.49 0.58 0.64 0.86 0.98 1.03 1.25 0.94
Cash flow 0.49 0.50 0.67 0.76 0.97 1.13 1.25 1.39 1.34 1.73
Capex (0.03) (0.03) (0.03) (0.06) 0.02 (0.03) (0.02) (0.10) (0.07) (0.07)
Free cash flow 0.46 0.47 0.63 0.70 0.99 1.10 1.23 1.29 1.28 1.66
Book value 2.99 3.26 3.47 3.60 3.83 4.56 4.41 5.28 6.85 6.72
Shares, m 291 285 278 275 271 270 268 266 267 265
Valuation, ×
Valuation, × P/E 24.79 22.89 27.80 30.12 29.75 34.65 26.13 29.58 37.79 35.40
P/S 0.80 0.97 1.28 1.54 1.73 2.51 1.97 1.78 2.43 1.62
P/B 2.37 2.89 3.92 4.82 4.99 6.54 5.83 5.74 6.89 4.96
EV/Sales 0.87 1.04 1.32 1.59 1.77 2.53 1.99 1.95 2.55 1.78
EV/FCF 16.89 21.50 22.28 25.53 19.83 27.41 21.14 25.81 38.83 22.01
Cash, $m
Cash, $m Operating cash flow 142 141 186 209 262 304 336 368 359 458
Capex (9) (9) (10) (16) 5 (8) (7) (26) (17) (18)
Free cash flow 133 133 176 193 268 296 330 342 341 440
Balance, $m
Balance, $m Working capital 454 504 432 310 206 217 242 148 308 242
Total debt 347 357 277 276 292 213 259 880 813 763
Net debt 187 167 131 156 134 46 74 711 580 596
Shareholders’ equity 869 929 967 989 1,037 1,234 1,183 1,404 1,830 1,780
Returns, %
Returns, % ROA 4.99 6.37 7.09 7.73 7.68 9.40 10.12 8.49 8.32 5.85
ROIC 8.04 10.46 10.82 10.30 12.86 13.61 16.93 10.59 12.98 10.74
ROE 9.71 13.11 14.44 16.22 17.16 20.50 21.77 21.14 20.62 13.72
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Tetra Tech, Inc. vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MTZ MasTec, Inc. $15.4B 30.1× 53.1× +23.38% (above 0%: growing) +51.82% (above 0%: growing) −31.15% (below 0%: shrinking) 12.72% 5.17% Compare
STRL Sterling Infrastructure, Inc. $13.7B 30.1× 52.6× +90.11% (above 0%: growing) +118.03% (above 0%: growing) +55.30% (above 0%: growing) 24.82% 18.77% Compare
IESC IES Holdings, Inc. $10.6B 22.1× 36.6× +39.60% (above 0%: growing) +98.70% (above 0%: growing) −14.63% (below 0%: shrinking) 27.41% 14.37% Compare
TTEK Tetra Tech, Inc. $8.9B 20.8× 17.9× −4.47% (below 0%: shrinking) −2.33% (below 0%: shrinking) −34.95% (below 0%: shrinking) 18.59% 12.07%
DY Dycom Industries, Inc. $7.8B 22.8× 41.3× +45.57% (above 0%: growing) +13.95% (above 0%: growing) +106.51% (above 0%: growing) 21.96% 9.57% Compare
ACM AECOM $7.6B 26.7× 15.5× −14.18% (below 0%: shrinking) n/m −78.95% (below 0%: shrinking) (0.95%) (2.12%) Compare
ACA Arcosa, Inc. $7.2B 14.7× 28.6× +1.73% (above 0%: growing) +447.54% (above 0%: growing) −193.75% (below 0%: shrinking) 23.64% 12.80% Compare
FLR Fluor Corporation $6.4B — (loss-making) 13.5× +8.82% (above 0%: growing) −94.46% (below 0%: shrinking) −825.71% (below 0%: shrinking) 4.13% 3.12% Compare
ECG Everus Construction Group, Inc. $5.7B 22.0× — +33.65% (above 0%: growing) +57.69% (above 0%: growing) +140.72% (above 0%: growing) 14.85% 9.08% Compare
Median of peers $7.7B 22.8× 36.6× +28.52% +57.69% −22.89% 18.41% 9.33%

All 51 Engineering & Construction stocks →

Tetra Tech, Inc. (TTEK) key facts

  • Strength: Tetra Tech, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $5.4 billion, up 4.69% from fiscal 2024.
  • Tetra Tech, Inc. (TTEK) is an Engineering & Construction company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, TTEK traded at $34.72, a market capitalization of $8.9 billion.
  • Tetra Tech, Inc. pays an annual dividend of $0.27 per share, a yield of 0.79%, with a payout ratio of 16.5%.
  • Return on equity was 13.7% and debt-to-equity 0.43.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.38 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Tetra Tech, Inc. (TTEK) Latest News

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stockrow.com/TTEK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com