TTEK Industrials

Tetra Tech, Inc.

$39.41-0.40%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 10.1B USD
Enterprise value: 9.5B USD
Full-time employees: 25,000

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: its share price swings more than most peers’ (beta 0.90 vs a peer median of 0.64), though less than the overall marketbigger price swings (beta 0.90 vs peers 0.64)
Drawback: less short-term liquidity (current ratio 1.18 vs a peer median of 1.62)less liquidity (current ratio 1.18 vs peers 1.62)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #622 of 2,308 industrials companies (top 27%)

See how it ranks against its peers

Worth knowing

Borrowing rising faster than profit. Since FY Sep 2022: debt +200%, operating profit +20%.
Tetra Tech's debt grew 200% since FY Sep 2022 while operating profit changed +20%.
Sales growing faster than profits. Since FY Sep 2022: revenue +55%, operating profit +20%.
Since FY Sep 2022, Tetra Tech's revenue changed +55% but operating profit only +20%: costs are rising faster than sales.
Profitable, but revenue is shrinking. More profitable than most peers, but revenue fell 7.6% in the 12 months to June 2026 vs the 12 months before.
Tetra Tech is more profitable than most peers, yet revenue fell 7.6% in the 12 months to June 2026 vs the 12 months before.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $3.0B in FY Sep 2020 to $5.4B in FY Sep 2025.
Tetra Tech's fiscal-year revenue rose in each of the five years to FY Sep 2025, from $3.0B to $5.4B.

StockQuotient Score

62/ 100

Oct 5 64 → Nov 4 62 (-2)

Valuation

Is the price right?

50/100

Moderate▼ 3 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 53 → 50

Share price +6.9%-3

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.3%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.19Sector median: 0.0377 · MAD: 0.0294

EBITDA yield6.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.15Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield5.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.47Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield18.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

75/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth107.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 4.04Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth6.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.41Sector median: 0.0421 · MAD: 0.0625

Revenue growth-7.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.57Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

87/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin12.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.85Sector median: 0.0773 · MAD: 0.0507

Return on assets10.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.85Sector median: 0.0311 · MAD: 0.0241

Return on invested capital19.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.29Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin18.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity23.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.90

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.92Sector median: 0.6440 · MAD: 0.2745

Current ratio1.18×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.81Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.43×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.09Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Tetra Tech

Is Tetra Tech getting weaker?: Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is unchanged at 62/100 since Oct 28, 2026.
How is Tetra Tech valued vs its peers?: Priced about in line with its peers. Valuation scores 50/100 against 2,459 industrials peers. Free cash flow yield 5.4% vs a peer median of 3.7% (stronger than 65% of peers).Free cash flow yield 5.4% vs peers 3.7% (stronger than 65% of peers).
Is Tetra Tech growing?: Yes, faster than most of its peers. Growth scores 75/100 against 2,459 industrials peers. Earnings per share growth 107.3% vs a peer median of 7.1% (stronger than 92% of peers).Earnings per share growth 107.3% vs peers 7.1% (stronger than 92% of peers). Revenue growth -7.6% vs a peer median of 4.4% (weaker than 83% of peers).Revenue growth -7.6% vs peers 4.4% (weaker than 83% of peers).
How profitable is Tetra Tech?: More profitable than most of its peers. Profitability scores 87/100 against 2,459 industrials peers. Return on assets 10.0% vs a peer median of 3.1% (stronger than 93% of peers).Return on assets 10.0% vs peers 3.1% (stronger than 93% of peers).
How risky is Tetra Tech?: Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 1.18× vs a peer median of 1.62× (weaker than 75% of peers).Current ratio 1.18× vs peers 1.62× (weaker than 75% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 28, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 29, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	5.1B USD	5.1B USD	−1.2%
Net income (12 months)	440.8M USD	436.7M USD	−0.9%
Operating margin	12.1%	12.1%	+0.0 pts
Free cash flow (12 months)	668.3M USD	547.3M USD	−18.1%
Debt	882.8M USD	803.5M USD	−9.0%
Cash	223.6M USD	230.8M USD	+3.2%
Shares outstanding	259.5M	256.0M	−1.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	15.5%	16.4%	16.0%	16.7%	17.7%	▲ 1.0 pts
Operating margin	8.7%	9.7%	7.9%	9.6%	7.5%	▼ 2.1 pts
Net margin	7.2%	7.5%	6.0%	6.4%	4.6%	▼ 1.9 pts
Return on assets (ROA)	9.0%	10.0%	7.2%	8.0%	5.8%	▼ 2.2 pts
Return on equity (ROE)	18.9%	22.2%	19.5%	18.2%	13.9%	▼ 4.3 pts
Free cash flow margin	9.2%	9.3%	7.6%	6.6%	8.1%	▲ 1.5 pts
Current ratio	1.26×	1.26×	1.12×	1.25×	1.18×	▼ 6.2%
Debt to equity	0.17×	0.22×	0.64×	0.45×	0.44×	▼ 3.4%
Interest coverage	21.86×	25.47×	6.83×	11.24×	10.05×	▼ 11%

TTEK price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

One and one Green Technologies. IncYDDL95/ 100

Prored Partners CO.,LTD.7034.T94/ 100

Promotora y Operadora de Infraestructura, S. A. B. de C. V.PINFRA.MX93/ 100

Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: its share price swings more than most peers’ (beta 0.90 vs a peer median of 0.64), though less than the overall marketbigger price swings (beta 0.90 vs peers 0.64)

Drawback: less short-term liquidity (current ratio 1.18 vs a peer median of 1.62)less liquidity (current ratio 1.18 vs peers 1.62)

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #622 of 2,308 industrials companies (top 27%)

See how it ranks against its peers

Worth knowing

Borrowing rising faster than profit. Since FY Sep 2022: debt +200%, operating profit +20%.

Tetra Tech's debt grew 200% since FY Sep 2022 while operating profit changed +20%.

Sales growing faster than profits. Since FY Sep 2022: revenue +55%, operating profit +20%.

Since FY Sep 2022, Tetra Tech's revenue changed +55% but operating profit only +20%: costs are rising faster than sales.

Profitable, but revenue is shrinking. More profitable than most peers, but revenue fell 7.6% in the 12 months to June 2026 vs the 12 months before.

Tetra Tech is more profitable than most peers, yet revenue fell 7.6% in the 12 months to June 2026 vs the 12 months before.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $3.0B in FY Sep 2020 to $5.4B in FY Sep 2025.

Tetra Tech's fiscal-year revenue rose in each of the five years to FY Sep 2025, from $3.0B to $5.4B.

Questions investors ask about Tetra Tech

Is Tetra Tech getting weaker?

Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is unchanged at 62/100 since Oct 28, 2026.

How is Tetra Tech valued vs its peers?

Priced about in line with its peers. Valuation scores 50/100 against 2,459 industrials peers. Free cash flow yield 5.4% vs a peer median of 3.7% (stronger than 65% of peers).Free cash flow yield 5.4% vs peers 3.7% (stronger than 65% of peers).

Is Tetra Tech growing?

Yes, faster than most of its peers. Growth scores 75/100 against 2,459 industrials peers. Earnings per share growth 107.3% vs a peer median of 7.1% (stronger than 92% of peers).Earnings per share growth 107.3% vs peers 7.1% (stronger than 92% of peers). Revenue growth -7.6% vs a peer median of 4.4% (weaker than 83% of peers).Revenue growth -7.6% vs peers 4.4% (weaker than 83% of peers).

How profitable is Tetra Tech?

More profitable than most of its peers. Profitability scores 87/100 against 2,459 industrials peers. Return on assets 10.0% vs a peer median of 3.1% (stronger than 93% of peers).Return on assets 10.0% vs peers 3.1% (stronger than 93% of peers).

How risky is Tetra Tech?

Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 1.18× vs a peer median of 1.62× (weaker than 75% of peers).Current ratio 1.18× vs peers 1.62× (weaker than 75% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

5.1B USD

5.1B USD

−1.2%

Net income (12 months)

440.8M USD

436.7M USD

−0.9%

Operating margin

12.1%

12.1%

+0.0 pts

Free cash flow (12 months)

668.3M USD

547.3M USD

−18.1%

Debt

882.8M USD

803.5M USD

−9.0%

Cash

223.6M USD

230.8M USD

+3.2%

Shares outstanding

259.5M

256.0M

−1.3%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

15.5%

16.4%

16.0%

16.7%

17.7%

▲ 1.0 pts

Operating margin

8.7%

9.7%

7.9%

9.6%

7.5%

▼ 2.1 pts

Net margin

7.2%

7.5%

6.0%

6.4%

4.6%

▼ 1.9 pts

Return on assets (ROA)

9.0%

10.0%

7.2%

8.0%

5.8%

▼ 2.2 pts

Return on equity (ROE)

18.9%

22.2%

19.5%

18.2%

13.9%

▼ 4.3 pts

Free cash flow margin

9.2%

9.3%

7.6%

6.6%

8.1%

▲ 1.5 pts

Current ratio

1.26×

1.12×

1.25×

1.18×

▼ 6.2%

Debt to equity

0.17×

0.22×

0.64×

0.45×

0.44×

▼ 3.4%

Interest coverage

21.86×

25.47×

6.83×

11.24×

10.05×

▼ 11%