Tetra Tech Inc. (TTEK) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.32	$0.34	+6.3%	—	$1.2B	—
Q4 25	$0.4	$0.45	+12.5%	—	$1.3B	—
Q3 25	$0.38	$0.43	+13.2%	—	$1.4B	—
Q2 25	$0.31	$0.33	+6.5%	—	$1.3B	—
Q1 25	$0.33	$0.35	+6.1%	—	$1.4B	—
Q4 24	$0.37	$0.38	+2.7%	—	$1.4B	—
Q3 24	$0.31	$0.32	+3.2%	—	$1.3B	—
Q2 24	$0.26	$0.28	+7.7%	—	$1.3B	—
Q1 24	$0.27	$0.28	+3.7%	—	$1.2B	—
Q4 23	$1.44	$1.78	+23.6%	—	$1.3B	—
Q3 23	$1.18	$1.29	+9.3%	—	$1.2B	—
Q2 23	$1.03	$1.17	+13.6%	—	$1.2B	—
Q1 23	$1.21	$1.34	+10.7%	—	$894.8M	—
Q4 22	$1.15	$1.26	+9.6%	—	$902.6M	—
Q3 22	$1.05	$1.08	+2.9%	—	$890.2M	—
Q2 22	$0.9	$0.98	+8.9%	—	$852.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.94	—	—	$5.4B	—
FY24	—	$1.25	—	—	$5.2B	—
FY23	—	$1.03	—	—	$4.5B	—
FY22	—	$0.98	—	—	$3.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.6B	$2.8B	$3B	$3.1B	$3B	$3.2B	$3.5B	$4.5B	$5.2B	$5.4B
YoY change	+12.4%	+6.58%	+7.66%	+4.83%	-3.62%	+7.3%	+9.04%	+29.1%	+15%	+4.69%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.6B	2.8B	3B	3.1B	3B	3.2B	3.5B	4.5B	5.2B	5.4B
Cost of revenue	2.3B	2.4B	2.6B	2.7B	2.5B	2.7B	2.9B	3.8B	4.3B	4.5B
Gross profit	330.2M	353.6M	384.5M	408.2M	446.5M	498.4M	575.6M	725M	866.4M	961.3M
Gross margin	12.8%	12.8%	13%	13.1%	14.9%	15.5%	16.4%	16%	16.7%	17.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	172M	177.2M	190.1M	200.2M	204.6M	223M	234.8M	305.1M	356M	357.7M
Operating expenses	172M	177.2M	190.1M	200.2M	204.6M	223M	234.8M	305.1M	356M	357.7M
Operating income	158.2M	176.4M	194.3M	208M	241.9M	275.4M	340.8M	419.9M	510.4M	603.6M
Operating margin	6.12%	6.41%	6.56%	6.69%	8.08%	8.57%	9.73%	9.29%	9.82%	11.1%
Non-operating income, net	-22.4M	6.9M	-4.3M	-19.2M	-829K	3.3M	19.6M	27.6M	-9.7M	-195.2M
Pretax income	124.5M	171.8M	174.6M	175.1M	228M	266.9M	348.8M	401M	463.5M	377.6M
Income tax	40.6M	53.8M	37.6M	16.4M	54.1M	34M	85.6M	127.5M	130M	129.7M
Net income	83.9M	117.9M	137M	158.8M	173.9M	232.8M	263.2M	273.5M	333.4M	247.9M
Net margin	3.25%	4.28%	4.62%	5.11%	5.81%	7.25%	7.51%	6.05%	6.41%	4.56%
EBITDA	204.8M	222.9M	234.8M	238.5M	267.9M	300.1M	389.5M	576.4M	591.4M	671.7M
EPS	0.29	0.41	0.49	0.58	0.64	0.86	0.98	1.03	1.25	0.94
Diluted EPS	0.28	0.41	0.48	0.57	0.63	0.85	0.97	1.02	1.23	0.93

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	1.3B	1.2B	1.3B	1.3B	1.4B	1.4B	1.3B	1.4B	1.3B	1.2B	1.2B	1.3B
Cost of revenue	1B	1B	1B	1.1B	1.1B	1.2B	1.1B	1.1B	1.1B	990.3M	1B	1.1B
Gross profit	212.1M	190.5M	207.5M	223.2M	245.3M	221.5M	214.2M	251.5M	274.1M	220.4M	214.1M	243.2M
Gross margin	16.8%	15.5%	16.6%	16.6%	17.8%	15.6%	16.2%	18.4%	20.6%	18.2%	17.5%	18.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	77.2M	79.4M	89.8M	94M	92.7M	84M	84.1M	86.6M	102.7M	86.8M	82.6M	85.2M
Operating expenses	77.2M	79.4M	89.8M	94M	92.7M	84M	84.1M	86.6M	102.7M	86.8M	82.6M	85.2M
Operating income	134.9M	111.1M	117.7M	129.1M	152.5M	137.5M	130.1M	164.9M	171.4M	133.5M	131.5M	158M
Operating margin	10.7%	9.04%	9.4%	9.61%	11.1%	9.68%	9.84%	12%	12.9%	11%	10.8%	12.1%
Non-operating income, net	-27.5M	—	—	-500K	-9.2M	-115M	-90.5M	58K	9.9M	15.2M	4.7M	-77K
Pretax income	94.4M	101.5M	107.8M	118.7M	135.4M	15.3M	31.1M	156.7M	174.5M	141.6M	127.3M	150.8M
Income tax	40.7M	26.5M	31.3M	32.9M	39.3M	14.5M	25.7M	42.8M	46.6M	36.4M	33.5M	41M
Net income	53.7M	75M	76.5M	85.8M	96.2M	778K	5.4M	113.9M	127.9M	105.2M	93.8M	109.8M
Net margin	4.26%	6.1%	6.11%	6.38%	7%	0.05%	0.41%	8.31%	9.61%	8.69%	7.69%	8.39%
EBITDA	158.8M	130.6M	135.4M	148.6M	176.8M	153.6M	144M	178.6M	195.9M	155.3M	150.5M	172.8M
EPS	0.2	0.28	0.29	0.32	0.36	0	0.02	0.43	0.49	0.4	0.36	0.42
Diluted EPS	0.2	0.28	0.28	0.32	0.35	0	0.02	0.43	0.48	0.4	0.36	0.42

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.1B	2.6B	3.8B	4.8B	5.2B	8.1B	6.9B	8.1B	12.6B	8.8B	8.7B
Enterprise value	2.3B	2.8B	3.9B	4.9B	5.6B	8.4B	7.2B	9B	13.4B	9.7B	9.5B
Shares outstanding	290.9M	284.6M	278.4M	274.9M	271.2M	270.4M	268.1M	266M	267.4M	264.7M	264.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	24.6	22.5	27.8	30	29.8	34.7	26.2	29.6	37.8	35.6	20.2
P/S	0.8	0.96	1.28	1.54	1.73	2.51	1.97	1.79	2.43	1.62	1.97
P/B	2.37	2.85	3.93	4.82	4.99	6.54	5.83	5.76	6.89	4.96	4.63
EV/EBITDA	11	12.6	16.8	20.7	20.8	27.9	18.4	15.6	22.6	14.4	14.5
EV/Sales	0.87	1.02	1.33	1.59	1.86	2.6	2.05	1.99	2.58	1.77	2.17
Earnings yield	4.06%	4.45%	3.6%	3.33%	3.36%	2.88%	3.82%	3.38%	2.64%	2.81%	4.96%
FCF yield	6.3%	4.97%	4.63%	4.03%	4.83%	3.66%	4.72%	4.22%	2.7%	4.97%	4.57%
PEG	—	—	—	—	—	—	—	—	—	—	-8.68

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	12.8%	12.8%	13%	13.1%	14.9%	15.5%	16.4%	16%	16.7%	17.7%	18.6%
Operating margin	6.12%	6.41%	6.56%	6.69%	8.08%	8.57%	9.73%	9.29%	9.82%	11.1%	14.3%
Net margin	3.25%	4.28%	4.62%	5.11%	5.81%	7.25%	7.51%	6.05%	6.41%	4.56%	10%
ROE	9.64%	12.7%	14.2%	16%	16.8%	18.9%	22.2%	19.5%	18.2%	13.9%	24.3%
ROA	4.66%	6.2%	6.99%	7.39%	7.31%	9.04%	10%	7.16%	7.95%	5.79%	8.54%
ROIC	10.1%	11.1%	13.9%	16.5%	12.9%	15.8%	17.6%	12.3%	14%	15.2%	16.5%
Return on tangible assets	31.4%	32.1%	41.6%	59.9%	47.8%	82.1%	76.6%	-95%	-150.4%	-413.8%	-149.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.94	1.94	1.7	1.4	1.26	1.26	1.26	1.12	1.25	1.18	1.18
Quick ratio	1.94	1.94	1.7	1.4	1.26	1.26	1.26	1.12	1.25	1.18	1.18
Debt / equity	0.4	0.38	0.29	0.28	0.53	0.37	0.39	0.78	0.56	0.55	0.55
Debt / assets	0.19	0.19	0.14	0.13	0.23	0.18	0.18	0.29	0.24	0.23	0.23
Net debt / EBITDA	0.91	0.75	0.56	0.65	1.48	0.96	0.71	1.6	1.32	1.22	1.18
Interest coverage	11	15	11.1	12.4	16.8	21.9	27.1	8.65	11.4	10.3	15.9
Effective tax rate	32.6%	31.3%	21.5%	9.35%	23.7%	12.8%	24.5%	31.8%	28.1%	34.3%	26.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.88	9.68	10.6	11.3	11	11.9	13.1	17	19.4	20.6	16.7
EPS (basic)	0.29	0.41	0.49	0.58	0.64	0.86	0.98	1.03	1.25	0.94	0.94
EPS (diluted)	0.28	0.41	0.48	0.57	0.63	0.85	0.97	1.02	1.23	0.93	1.66
Book value per share	2.99	3.26	3.47	3.6	3.83	4.56	4.41	5.28	6.85	6.72	7.23
FCF per share	0.45	0.46	0.63	0.7	0.92	1.09	1.21	1.28	1.27	1.66	2.11
Cash per share	0.55	0.67	0.53	0.44	0.58	0.62	0.69	0.63	0.87	0.63	0.9
Capex per share	0.01	0	—	0	0.07	0	—	—	—	0.07	0.07

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.12%	0.03%	—	0.02%	0.59%	0.02%	—	—	—	0.34%	0.38%
Capex / operating cash flow	2.52%	0.67%	—	0.4%	6.38%	0.16%	—	—	—	4.07%	3.38%
Payout ratio	23.5%	18.4%	17.9%	18.7%	20%	17.2%	17.5%	19.1%	17.6%	26.2%	16.1%
Dividend yield	0.96%	0.82%	0.64%	0.62%	0.67%	0.5%	0.67%	0.64%	0.47%	0.74%	0.85%

Yield

0.85%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.072

ex-dividend Aug 13, 2026

Payout ratio

16%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 13, 2026	$0.072
May 14, 2026	$0.072
Feb 12, 2026	$0.065
Dec 1, 2025	$0.065
Aug 15, 2025	$0.065

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$1.3B	$1.2B	$1.3B	$1.3B	$1.4B	$1.4B	$1.3B	$1.4B	$1.3B	$1.2B	$1.2B	$1.3B
YoY change	+39.7%	+37.3%	+8.06%	+11.2%	+9.03%	+15.7%	+5.63%	+1.9%	-3.23%	-14.8%	-7.71%	-4.47%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	160.5M	190M	146.2M	120.7M	157.5M	166.6M	185.1M	168.8M	232.7M	167.5M
Receivables	364.3M	376.3M	464.1M	497M	402.8M	432.8M	491.7M	672.7M	707.4M	855M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	935.4M	1B	1.1B	1.1B	999.8M	1.1B	1.2B	1.4B	1.5B	1.6B
Property, plant & equipment	67.8M	56.8M	43.3M	39.4M	274.9M	253.2M	214.6M	250.8M	251M	263.8M
Goodwill & intangibles	1.5B	1.5B	1.6B	1.9B	2B	2.3B	2.3B	4.1B	4.4B	4.3B
Total assets	1.8B	1.9B	2B	2.1B	2.4B	2.6B	2.6B	3.8B	4.2B	4.3B
Accounts payable	158.8M	177.6M	160.2M	206.6M	111.8M	128.8M	147.4M	173.3M	197.4M	204.7M
Short-term debt	15.5M	15.6M	12.6M	12.5M	118.9M	80M	70.4M	65M	63.4M	69.1M
Total current liabilities	481.1M	537.7M	618.1M	770M	793.5M	848.5M	916M	1.2B	1.2B	1.4B
Long-term debt	331.5M	341.3M	264.7M	263.9M	434.4M	374.3M	392.5M	1B	952.7M	918.1M
Total liabilities	931.4M	974.1M	992.3M	1.2B	1.3B	1.3B	1.4B	2.4B	2.4B	2.5B
Shareholders' equity	869.4M	928.6M	967.1M	989.5M	1B	1.2B	1.2B	1.4B	1.8B	1.8B
Total debt	347M	356.9M	277.3M	276.4M	553.3M	454.2M	462.9M	1.1B	1B	987.2M
Net debt	186.6M	166.9M	131.1M	155.7M	395.7M	287.7M	277.8M	920.4M	783.5M	819.7M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	168.8M	198.7M	210.3M	212.3M	232.7M	248.1M	179.4M	242.8M	167.5M	269.4M	223.6M	230.8M
Receivables	672.7M	700.9M	674.1M	685.2M	707.4M	707.4M	874.8M	795.9M	855M	778M	720.2M	735.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.4B	1.5B	1.5B	1.5B	1.5B	1.6B	1.7B	1.6B	1.6B	1.6B	1.5B	1.6B
Property, plant & equipment	250.8M	254.5M	254.8M	238M	251M	239.2M	251.5M	256.4M	263.8M	264.9M	271.9M	263.6M
Goodwill & intangibles	4.1B	4.2B	4.3B	4.3B	4.4B	4.2B	4.1B	4.5B	4.3B	4.4B	4.7B	4.7B
Total assets	3.8B	4B	4.1B	4.1B	4.2B	4.2B	4.2B	4.4B	4.3B	4.3B	4.4B	4.4B
Accounts payable	173.3M	207.1M	215.6M	198.3M	197.4M	238.2M	262.3M	234.6M	204.7M	196.7M	204.8M	220.6M
Short-term debt	65M	68.1M	70.8M	65.9M	63.4M	61.2M	315.9M	64.1M	69.1M	69.7M	73.7M	74.7M
Total current liabilities	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B	1.5B	1.4B	1.4B	1.2B	1.2B	1.3B
Long-term debt	1B	1.1B	1.1B	990.7M	952.7M	1B	907.4M	1B	918.1M	988.7M	1B	948.8M
Total liabilities	2.4B	2.4B	2.5B	2.4B	2.4B	2.5B	2.6B	2.6B	2.5B	2.4B	2.5B	2.5B
Shareholders' equity	1.4B	1.5B	1.6B	1.7B	1.8B	1.7B	1.6B	1.7B	1.8B	1.8B	1.9B	1.9B
Total debt	1.1B	1.2B	1.2B	1.1B	1B	1.1B	1.2B	1.1B	987.2M	1.1B	1.1B	1B
Net debt	920.4M	954.3M	950.9M	844.3M	783.5M	836.3M	1B	828.8M	819.7M	788.9M	886.1M	792.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	83.9M	117.9M	137M	158.8M	173.9M	232.8M	263.2M	273.5M	333.4M	247.9M
Depreciation & amortization	45.6M	45.8M	38.6M	28.8M	24.6M	23.8M	27M	61.2M	73.7M	58.3M
Stock-based compensation	13M	13.4M	19.6M	17.6M	19.4M	23.1M	26.2M	28.6M	31.2M	33.9M
Change in working capital	-32.1M	-25.9M	-4.5M	-5.6M	74M	62.1M	-58.7M	-29.6M	-52.5M	59.3M
Operating cash flow	122.1M	134.3M	163.2M	163.1M	277.5M	299.5M	258.9M	325.7M	372.9M	457.7M
Capital expenditure	3.1M	905K	—	651K	17.7M	492K	—	—	—	-18.6M
Investing cash flow	-79M	-6.3M	-32.9M	-82.9M	-33.1M	-83.9M	-45.2M	-744.3M	-92.9M	-106.8M
Dividends paid	-19.7M	-21.7M	-24.5M	-29.7M	-34.7M	-40M	-46.1M	-52.1M	-58.8M	-65M
Share repurchases	-99.5M	-100M	-75M	-100M	-117.2M	-60M	-200M	0	0	-250M
Financing cash flow	-25.4M	-98.3M	-182M	-146.8M	-173.4M	-221.3M	-251.4M	381.8M	-194.4M	-410.7M
Net change in cash	17.7M	29.7M	-51.6M	-66.5M	71.1M	-5.7M	-37.6M	-36.8M	85.6M	-59.8M
Free cash flow	130.1M	131.7M	176M	192.3M	250.2M	295.8M	325.6M	341.6M	340.6M	439.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	53.7M	75M	76.5M	85.8M	96.2M	778K	5.4M	113.9M	127.9M	105.2M	93.8M	109.8M
Depreciation & amortization	18M	19.5M	17.7M	19.5M	17M	16.1M	13.9M	13.7M	14.6M	14M	14.3M	14.8M
Stock-based compensation	7M	7.6M	8M	8.1M	7.4M	8.1M	8.9M	8.8M	8.2M	8.2M	9.5M	9.8M
Change in working capital	-44M	17.3M	5.3M	-55.3M	-19.8M	117.1M	-134.1M	141.5M	-65.2M	89.7M	-1.2M	7.4M
Operating cash flow	-3.3M	117.9M	102M	59.6M	93.4M	140.9M	-118M	349.6M	100.8M	72.3M	165.3M	228.9M
Capital expenditure	—	—	—	—	—	—	—	-4.4M	-5.2M	-4.2M	-6M	-3.8M
Investing cash flow	276K	22K	76K	-21.3M	76K	—	-5.7M	-95.5M	1.5M	37.5M	-182.3M	-20.7M
Dividends paid	-13.8M	-13.9M	-13.9M	-15.5M	-15.5M	-15.5M	-15.4M	-17.1M	-17M	-16.9M	-16.9M	-18.6M
Share repurchases	0	—	—	—	—	-25M	-150M	-25M	-50M	-50M	-52M	-100M
Financing cash flow	-112.2M	18.1M	-26.6M	-101.4M	-97.2M	32.6M	-70.2M	-197.5M	-189.5M	980K	-25.7M	-200.6M
Net change in cash	-115.3M	136M	75.5M	-63.1M	-3.7M	173.5M	-193.9M	56.6M	-87.1M	110.7M	-42.7M	7.7M
Free cash flow	112.8M	5.8M	98.9M	137.1M	98.8M	9.6M	-11.8M	345.2M	95.6M	68.1M	159.4M	225.1M

Date	Ratio
Dec 18, 2001	5:4
Jun 16, 1999	5:4
Sep 16, 1998	5:4
Dec 2, 1997	5:4
Jun 24, 1996	5:4
Jun 26, 1995	5:4
Sep 19, 1994	5:4
Nov 15, 1993	5:4
Dec 15, 1992	5:4

Tetra Tech Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history