Tetra Technologies, Inc.
Tetra Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $630.9 million, up 5.31% from fiscal 2024. In the quarter to June 2026, revenue grew 6.78%, EPS fell 12.5%, free cash flow fell 61.3% and total debt rose 1.56%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Tetra Technologies, Inc. (TTI) Altman Z-score
Tetra Technologies, Inc.'s Altman Z-score for fiscal 2025 is 3.05, 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 | 3.05 | 1.09 |
| FY2024 | 1.96 | (0.30) |
| FY2023 | 2.26 | 0.66 |
| FY2022 | 1.60 | 0.78 |
| FY2021 | 0.81 | 0.82 |
| FY2020 | −0.00 | (0.04) |
| FY2019 | 0.04 | (0.46) |
| FY2018 | 0.50 | (0.33) |
| FY2017 | 0.83 | 0.43 |
| FY2016 | 0.39 | (0.49) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.24 | — | 0.28 | |
| Retained earnings / total assets | (0.24) | — | −0.34 | |
| EBIT / total assets | 0.08 | — | 0.27 | |
| Market value of equity / total liabilities | 3.17 | — | 1.90 | |
| Sales / total assets | 0.93 | — | 0.93 | |
| Altman Z-score | Safe zone | 3.05 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.06 | ||
Z and Z″ put Tetra Technologies, Inc. in different zones: safe zone by Z, grey zone by Z″.
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 |
|---|---|
| FBYD Falcon's Beyond Global, Inc. compare | 6.5× |
| TTI Tetra Technologies, Inc. | 3.1× |
| TRC Tejon Ranch Co compare | 2.2× |
| MATW Matthews International Corporation compare | 2.0× |
| DLX Deluxe Corporation compare | 1.5× |
| BOC Boston Omaha Corporation compare | 1.5× |
| CRESY Cresud S.A.C.I.F. y A. compare | 0.5× |
| CODI Compass Diversified Holdings compare | 0.3× |
| TMS Live Oak Acquisition Corp. V compare | — |
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