Tetra Technologies Inc. (TTI) 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	$0.08	$0.08	0.0%	—	$185.7M	—
Q4 25	$0.02	$0.02	0.0%	—	$146.7M	—
Q3 25	$0.04	$0.04	0.0%	—	$153.2M	—
Q2 25	$0.08	$0.09	+12.5%	—	$173.9M	—
Q1 25	$0.06	$0.11	+83.3%	—	$157.1M	—
Q4 24	$0.03	$0.03	0.0%	—	$134.5M	—
Q3 24	$0.03	$0.03	0.0%	—	$141.7M	—
Q2 24	$0.11	$0.07	-36.4%	—	$171.9M	—
Q1 24	$0.04	$0.05	+25.0%	—	$151M	—
Q4 23	$0.05	$0.03	-40.0%	—	$153.1M	—
Q3 23	$0.09	$0.07	-22.2%	—	$151.5M	—
Q2 23	$0.09	$0.13	+44.4%	—	$175.5M	—
Q1 23	$0.05	$0.03	-40.0%	—	$146.2M	—
Q4 22	$0.03	$0.02	-33.3%	—	$147.4M	—
Q3 22	$0.04	$0.02	-50.0%	—	$135M	—
Q2 22	$0.06	$0.05	-16.7%	—	$140.7M	—

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	—	$0.02	—	—	$630.9M	—
FY24	—	$0.83	—	—	$599.1M	—
FY23	—	$0.2	—	—	$626.3M	—
FY22	—	$0.06	—	—	$553.2M

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	$617.4M	$723.1M	$560.1M	$561.2M	$377.7M	$388.3M	$553.2M	$626.3M	$599.1M	$630.9M
YoY change	-45.4%	+17.1%	-22.5%	+0.2%	-32.7%	+2.79%	+42.5%	+13.2%	-4.34%	+5.31%

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	617.4M	723.1M	560.1M	561.2M	377.7M	388.3M	553.2M	626.3M	599.1M	630.9M
Cost of revenue	556.6M	614.7M	456.8M	549.4M	310.2M	329M	432.1M	472.6M	459.3M	475M
Gross profit	60.8M	108.4M	103.3M	11.8M	67.5M	59.2M	121.1M	153.6M	139.9M	155.9M
Gross margin	9.85%	15%	18.4%	2.1%	17.9%	15.3%	21.9%	24.5%	23.3%	24.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	108.4M	115.4M	92.9M	96.5M	76.7M	75M	91.9M	96.6M	90M	100.6M
Operating expenses	108.4M	115.4M	92.9M	96.5M	76.7M	75M	98.6M	108.7M	90M	100.6M
Operating income	-47.6M	-7M	10.4M	-84.7M	-9.2M	-15.8M	22.5M	44.9M	49.9M	55.4M
Operating margin	-7.71%	-0.97%	1.85%	-15.1%	-2.42%	-4.07%	4.07%	7.18%	8.33%	8.78%
Non-operating income, net	-117M	20.2M	6M	-22.2M	3M	17.5M	4.5M	9.1M	1.3M	-11.6M
Pretax income	-223.2M	-44M	-2.6M	-128.1M	-25.1M	-14.7M	11.2M	31.7M	28.7M	26.5M
Income tax	2.2M	751K	3.7M	2.8M	1.8M	2.1M	3.6M	6.2M	-84.9M	22.3M
Net income	-239.4M	-62.2M	-84.2M	-160.5M	-98.9M	103.6M	7.8M	25.8M	108.3M	3M
Net margin	-38.8%	-8.6%	-15%	-28.6%	-26.2%	26.7%	1.41%	4.11%	18.1%	0.48%
EBITDA	73.3M	111.2M	121.8M	41.5M	112.6M	35.2M	59.8M	88.4M	92.5M	80.9M
EPS	-1.85	-0.34	-0.5	-1.17	-0.41	0.81	0.06	0.2	0.83	0.02
Diluted EPS	-1.85	-0.34	-0.5	-1.17	-0.41	0.81	0.06	0.2	0.83	0.02

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	151.5M	153.1M	151M	171.9M	141.7M	134.5M	157.1M	173.9M	153.2M	146.7M	156.3M	185.7M
Cost of revenue	113.5M	122.9M	119.9M	128.7M	107.3M	103.4M	114.2M	125.6M	116.9M	118.3M	118M	139.9M
Gross profit	37.9M	30.2M	31.1M	43.3M	34.4M	31.1M	42.9M	48.2M	36.4M	28.4M	38.2M	45.7M
Gross margin	25%	19.8%	20.6%	25.2%	24.3%	23.1%	27.3%	27.7%	23.7%	19.4%	24.5%	24.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	23.8M	23.3M	22.3M	22.1M	22.4M	23.1M	24.1M	25.3M	25.2M	25.9M	25.4M	25.6M
Operating expenses	27.6M	28.6M	22.3M	22.1M	22.4M	23.1M	24.1M	25.3M	25.2M	25.9M	25.4M	25.6M
Operating income	10.3M	1.6M	8.8M	21.1M	12M	8M	18.8M	23M	11.1M	2.5M	12.8M	20.1M
Operating margin	6.81%	1.06%	5.83%	12.3%	8.44%	5.95%	11.9%	13.2%	7.26%	1.71%	8.2%	10.8%
Non-operating income, net	2M	422K	-1.6M	-2.5M	715K	4.6M	-9M	645K	1.4M	-4.7M	2M	-1M
Pretax income	6.7M	-3.6M	1.3M	12.5M	7.6M	7.4M	5.1M	19.4M	8.1M	-6.1M	11.6M	15.9M
Income tax	1.2M	608K	380K	4.8M	4.7M	-94.8M	1M	8.1M	4M	9.2M	3.3M	5.6M
Net income	5.4M	-3.9M	915K	7.6M	-3M	102.7M	4M	11.3M	4.2M	-16.5M	8.3M	10.2M
Net margin	3.58%	-2.54%	0.61%	4.44%	-2.12%	76.4%	2.58%	6.5%	2.71%	-11.3%	5.32%	5.51%
EBITDA	20.9M	10.7M	21.5M	27.4M	21.5M	22M	19M	32.8M	22M	7.1M	24M	28.7M
EPS	0.04	—	0.01	0.06	-0.02	0.78	0.03	0.08	0.03	-0.12	0.06	0.07
Diluted EPS	0.04	—	0.01	0.06	-0.02	0.78	0.03	0.08	0.03	-0.12	0.06	0.07

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	—	—	208.5M	246.2M	108.2M	360.5M	443.2M	585.6M	470M	1.2B	875.1M
Enterprise value	—	—	984M	484.7M	287.2M	520.4M	621.9M	727.3M	646.6M	1.4B	968.3M
Shares outstanding	87.3M	114.5M	124.1M	125.6M	125.8M	126.9M	128.1M	129.6M	131.3M	133.2M	133.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	3.48	56.8	22.7	4.34	416.3	152
P/S	—	—	0.37	0.44	0.29	0.93	0.8	0.94	0.78	1.98	1.4
P/B	—	—	0.67	1.51	1.52	3.66	4.17	3.97	1.86	4.42	2.21
EV/EBITDA	—	—	8.08	11.7	2.55	14.8	10.4	8.23	6.99	17.3	11
EV/Sales	—	—	1.76	0.86	0.76	1.34	1.12	1.16	1.08	2.22	1.51
Earnings yield	—	—	—	—	—	28.7%	1.76%	4.4%	23%	0.24%	0.66%
FCF yield	—	—	-45.7%	-7.33%	43.9%	-4.4%	-4.76%	5.47%	-5.14%	1.57%	0.16%
PEG	—	—	—	—	—	—	—	—	—	—	-12.2

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	9.85%	15%	18.4%	2.1%	17.9%	15.3%	21.9%	24.5%	23.3%	24.7%	24.6%
Operating margin	-7.71%	-0.97%	1.85%	-15.1%	-2.42%	-4.07%	4.07%	7.18%	8.33%	8.78%	10.8%
Net margin	-38.8%	-8.6%	-15%	-28.6%	-26.2%	26.7%	1.41%	4.11%	18.1%	0.48%	0.97%
ROE	-59.8%	-17.6%	-26.9%	-98.6%	-139.2%	105.1%	7.33%	17.5%	42.7%	1.06%	2.13%
ROA	-18.2%	-4.75%	-6.08%	-12.6%	-8.73%	26%	1.79%	5.38%	17.9%	0.44%	4.34%
ROIC	-4.79%	-0.73%	0.95%	-21.1%	-3.66%	-6.12%	5.38%	12.5%	11.6%	2.02%	2.47%
Return on tangible assets	-20.5%	-5.18%	-7.2%	-13.6%	-9.42%	31.9%	2.12%	6.12%	19.5%	0.47%	0.82%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.36	1.95	2	1.86	1.17	2.17	1.92	2.24	2.19	2.02	2.46
Quick ratio	1.45	1.28	1.28	1.44	1.07	1.45	1.34	1.47	1.36	1.28	1.76
Debt / equity	1.56	1.79	2.61	1.56	3.47	1.94	1.81	1.32	0.84	0.8	0.55
Debt / assets	0.47	0.48	0.59	0.2	0.22	0.48	0.44	0.41	0.35	0.33	0.28
Net debt / EBITDA	8.1	5.43	6.37	5.74	1.59	4.54	2.99	1.6	1.91	1.89	0.85
Interest coverage	-2.81	0.23	0.86	-5.03	-0.33	0.1	1.71	2.42	2.28	2.53	2.97
Effective tax rate	0%	0%	0%	0%	0%	0%	31.9%	19.6%	0%	84.1%	74.8%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	7.07	6.32	4.51	4.47	3	3.06	4.32	4.83	4.56	4.74	4.75
EPS (basic)	-1.85	-0.34	-0.5	-1.17	-0.41	0.81	0.06	0.2	0.83	0.02	0.02
EPS (diluted)	-1.85	-0.34	-0.5	-1.17	-0.41	0.81	0.06	0.2	0.83	0.02	0.04
Book value per share	4.59	3.08	2.52	1.3	0.56	0.78	0.83	1.14	1.93	2.12	2.75
FCF per share	0.4	0.11	-0.77	-0.14	0.38	-0.13	-0.16	0.25	-0.18	0.15	-0.11
Cash per share	0.34	0.23	0.32	0.12	0.53	0.25	0.11	0.41	0.28	0.55	1.04
Capex per share	0.2	0.45	1.13	0.76	0.05	0.15	0.3	0.24	0.44	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.87%	7.06%	25.1%	17%	1.8%	4.85%	6.93%	5.03%	9.64%	—	—
Capex / operating cash flow	-84%	-1.4K%	275.8%	-446.6%	5.92%	16%	-5.5K%	47.7%	114.8%	—	—
Payout ratio	-12.1%	-30.3%	-22.8%	-0.77%	-1.26%	0%	—	—	—	—	0%
Dividend yield	—	—	9.22%	0.5%	1.15%	0%	—	—	—	—	—

Yield

—

trailing twelve months

Frequency

—

Last dividend

$0.10

ex-dividend May 16, 2017

Payout ratio

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
May 16, 2017	$0.10

Split history

Date	Ratio
May 23, 2006	2:1
Aug 29, 2005	3:2
Aug 22, 2003	3:2

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$151.5M	$153.1M	$151M	$171.9M	$141.7M	$134.5M	$157.1M	$173.9M	$153.2M	$146.7M	$156.3M	$185.7M
YoY change	+12.2%	+3.85%	+3.26%	-2.01%	-6.45%	-12.2%	+4.09%	+1.13%	+8.14%	+9.05%	-0.56%	+6.78%

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	29.8M	26.1M	40M	15.3M	67.3M	31.6M	13.6M	52.5M	37M	72.6M
Receivables	114.3M	144.1M	187.6M	111.2M	64.1M	91.2M	129.6M	111.8M	104.8M	99.6M
Inventory	106.5M	115.4M	143.6M	80.5M	76.7M	69.1M	72.1M	96.5M	101.7M	115.7M
Total current assets	275.8M	338.4M	400.7M	351.4M	931.5M	210.4M	238.4M	282M	269.6M	316.7M
Property, plant & equipment	1B	890M	932.7M	163.4M	140.3M	125.9M	135.4M	139.6M	172M	231.2M
Goodwill & intangibles	148.7M	108.1M	216.1M	92.4M	83M	73.9M	65.9M	58.3M	49.8M	42.9M
Total assets	1.3B	1.3B	1.4B	1.3B	1.1B	398.3M	434.4M	479M	605.2M	675.8M
Accounts payable	45.9M	70.8M	80.3M	41.1M	22.6M	37.9M	49.1M	52.3M	43.1M	54.5M
Short-term debt	30K	—	—	9.1M	8.8M	8.1M	7.8M	9.1M	8.9M	11.3M
Total current liabilities	116.9M	173.7M	200.4M	188.7M	798.1M	97.1M	124.3M	126M	123.3M	156.5M
Long-term debt	623.7M	629.9M	815.6M	244.7M	237.5M	183.4M	184.6M	185M	204.7M	214M
Total liabilities	915.1M	956.1M	1.1B	1.1B	1.1B	299.7M	328M	331.6M	351.9M	393.3M
Shareholders' equity	400.5M	352.6M	312.7M	162.8M	71.1M	98.6M	106.4M	147.3M	253.3M	282.5M
Total debt	623.8M	629.9M	815.6M	253.9M	246.3M	191.5M	192.4M	194.1M	213.6M	225.3M
Net debt	593.9M	603.7M	775.5M	238.5M	179M	159.9M	178.8M	141.7M	176.6M	152.7M

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	33.8M	52.5M	35.9M	37.7M	48.4M	37M	41M	68.7M	67.1M	72.6M	35.5M	154.6M
Receivables	122.9M	111.8M	132.4M	140.8M	110M	104.8M	120.9M	110.3M	116.4M	99.6M	115.8M	114.4M
Inventory	92.1M	96.5M	94.3M	82.8M	97.7M	101.7M	106.5M	108.5M	105.9M	115.7M	120M	117.1M
Total current assets	270.4M	282M	287.6M	289.6M	278.5M	269.6M	291.1M	311.6M	313.9M	316.7M	297.2M	411M
Property, plant & equipment	140.3M	139.6M	144.3M	151.8M	159.4M	172M	179.9M	194.8M	203.2M	231.2M	239.1M	264.3M
Goodwill & intangibles	60.3M	58.3M	56.1M	54.1M	52.1M	49.8M	48.1M	46.5M	44.7M	42.9M	41.2M	39.5M
Total assets	472.4M	479M	491.3M	499.7M	501.2M	605.2M	614.1M	645.6M	655.2M	675.8M	662.3M	800.1M
Accounts payable	50.3M	52.3M	47.5M	53.1M	48.4M	43.1M	41M	52.1M	44.3M	54.5M	52.2M	55M
Short-term debt	10.7M	9.1M	8.7M	8.6M	8.7M	8.9M	9.3M	10.7M	10.6M	11.3M	17.8M	20M
Total current liabilities	126.5M	126M	117.9M	120.3M	119.4M	123.3M	114.4M	126.3M	133.3M	156.5M	147.1M	167.3M
Long-term debt	184.8M	185M	206.1M	205.6M	205.6M	204.7M	205.4M	206.2M	204M	214M	206.5M	203.8M
Total liabilities	331.3M	331.6M	345.2M	346.1M	345.7M	351.9M	342.3M	356M	359.7M	393.3M	376.7M	393.6M
Shareholders' equity	141.1M	147.3M	146.1M	153.6M	155.4M	253.3M	271.7M	289.6M	295.4M	282.5M	285.6M	406.5M
Total debt	195.4M	194.1M	214.9M	214.2M	214.3M	213.6M	214.7M	216.9M	214.6M	225.3M	224.4M	223.8M
Net debt	161.6M	141.7M	178.9M	176.5M	166M	176.6M	173.7M	148.2M	147.5M	152.7M	188.9M	69.3M

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	-239.4M	-62.2M	-84.2M	-160.5M	-98.9M	103.6M	7.8M	25.8M	108.3M	3M
Depreciation & amortization	129.6M	116.2M	117M	124.3M	118.7M	33.5M	32.8M	34.3M	35.7M	37.1M
Stock-based compensation	13.7M	7.7M	7.4M	8.1M	6.6M	4.7M	6.9M	10.6M	6.6M	7.1M
Change in working capital	57.1M	-69M	-38.4M	-557K	78.5M	-26M	-47.9M	-3.3M	-6.1M	5M
Operating cash flow	-21.1M	-3.6M	51.1M	-21.4M	114.6M	118.1M	-698K	66M	50.3M	100.4M
Capital expenditure	-17.7M	-51.1M	-140.8M	-95.4M	6.8M	-18.8M	-38.4M	-31.5M	-57.8M	—
Investing cash flow	-14.3M	-47.9M	-188.6M	-106.4M	6M	-5.2M	-36.5M	-27M	-59.1M	18.8M
Dividends paid	-29M	-18.8M	-19.2M	-1.2M	-1.2M	0	—	—	—	—
Share repurchases	—	0	0	-28M	0	0	—	—	—	—
Financing cash flow	-32.6M	-21.3M	155M	-5.9M	-18.9M	-50.1M	40K	-4.7M	8.9M	-9.2M
Net change in cash	-68M	-72.9M	17.4M	-133.7M	101.7M	62.9M	-37.2M	34.3M	125K	109.9M
Free cash flow	34.6M	12.7M	-95.3M	-18M	47.5M	-15.9M	-21.1M	32.1M	-24.2M	19.5M

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	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	5.4M	-3.9M	915K	7.6M	-3M	102.7M	4M	11.3M	4.2M	-16.5M	8.3M	10.2M
Depreciation & amortization	8.6M	8.6M	8.8M	8.8M	8.8M	9.4M	9.2M	9.2M	9.5M	9.3M	9.2M	9.6M
Stock-based compensation	1.4M	6.4M	1.6M	1.8M	1.5M	1.7M	1.9M	1.7M	1.7M	1.8M	1.8M	1.9M
Change in working capital	-2.8M	7.9M	-18M	6.5M	9.4M	-4M	-18M	12.8M	-2.8M	12.9M	-21.5M	4.2M
Operating cash flow	12.6M	19.6M	-1.4M	25.1M	18M	108.6M	-2.5M	48.3M	16.4M	31.7M	-11.9M	34.4M
Capital expenditure	-6.8M	-1.9M	-15.6M	-15.3M	-12.3M	-14.6M	-17.8M	—	—	—	—	—
Investing cash flow	-6.9M	-2M	-15.7M	-15.3M	-13.4M	-14.6M	1.3M	-198K	-101K	-8K	164K	-264K
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-137K	-2.8M	13.3M	-2.4M	-980K	-1.1M	-2.1M	-2.5M	-2M	-2.7M	-7.1M	-7.4M
Net change in cash	5.5M	14.8M	-3.8M	7.5M	3.6M	92.9M	-3.3M	45.6M	14.3M	29M	-18.8M	26.7M
Free cash flow	7M	11M	-29.6M	9.4M	5.3M	-9.3M	-14M	28.8M	627K	4.1M	-30.9M	11.1M

Tetra Technologies 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

Split history

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