Tutor Perini Financials

TPC

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 49/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Tutor Perini has an operating margin of -2.4%, meaning the company retains $-2 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -2.9% the prior year.

Growth

Tutor Perini's revenue grew 11.5% year-over-year to $4.3B, a solid pace of expansion. This earns a growth score of 61/100.

Leverage

Tutor Perini carries a low D/E ratio of 0.45, meaning only $0.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Tutor Perini's current ratio of 1.41 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Tutor Perini has a free cash flow margin of 10.8%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

6/9

Tutor Perini passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-3.08x

For every $1 of reported earnings, Tutor Perini generates $-3.08 in operating cash flow ($503.5M OCF vs -$163.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.2x

Tutor Perini earns $-1.2 in operating income for every $1 of interest expense (-$103.8M vs $89.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Tutor Perini (TPC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$4.3B

YoY+11.5%

5Y CAGR-0.6%

Tutor Perini generated $4.3B in revenue in fiscal year 2024. This represents an increase of 11.5% from the prior year.

EBITDA

-$50.0M

YoY+28.0%

Tutor Perini's EBITDA was -$50.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 28.0% from the prior year.

Free Cash Flow

$466.1M

YoY+82.4%

5Y CAGR+54.9%

Tutor Perini generated $466.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 82.4% from the prior year.

Net Income

-$163.7M

YoY+4.3%

Tutor Perini reported -$163.7M in net income in fiscal year 2024. This represents an increase of 4.3% from the prior year.

EPS (Diluted)

$-3.13

YoY+5.2%

Tutor Perini earned $-3.13 per diluted share (EPS) in fiscal year 2024. This represents an increase of 5.2% from the prior year.

Cash & Debt

$455.1M

YoY+19.6%

5Y CAGR+18.6%

10Y CAGR+12.9%

Tutor Perini held $455.1M in cash against $510.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

52M

YoY+0.9%

5Y CAGR+0.9%

10Y CAGR+0.8%

Tutor Perini had 52M shares outstanding in fiscal year 2024. This represents an increase of 0.9% from the prior year.

Gross Margin

4.5%

YoY+0.9pp

5Y CAGR-0.9pp

Tutor Perini's gross margin was 4.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.

Operating Margin

-2.4%

YoY+0.5pp

5Y CAGR+5.8pp

Tutor Perini's operating margin was -2.4% in fiscal year 2024, reflecting core business profitability. This is up 0.5 percentage points from the prior year.

Net Margin

-3.8%

YoY+0.6pp

5Y CAGR+4.9pp

Tutor Perini's net profit margin was -3.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$37.4M

YoY-29.4%

5Y CAGR-15.0%

10Y CAGR-6.7%

Tutor Perini invested $37.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 29.4% from the prior year.

TPC Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$4.3B+11.5%	$3.9B+2.4%	$3.8B-18.3%	$4.6B-12.7%	$5.3B+19.5%	$4.5B
Cost of Revenue	$4.1B+10.4%	$3.7B-0.6%	$3.8B-9.9%	$4.2B-13.6%	$4.8B+14.8%	$4.2B
Gross Profit	$197.0M+40.1%	$140.6M+374.9%	$29.6M-93.7%	$466.4M-4.1%	$486.2M+101.1%	$241.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$300.8M+17.9%	$255.2M+8.9%	$234.4M-2.2%	$239.6M+7.0%	$223.8M-1.4%	$226.9M
Operating Income	-$103.8M+9.5%	-$114.6M+44.0%	-$204.8M-190.3%	$226.8M-13.5%	$262.3M+171.9%	-$365.0M
Interest Expense	$89.1M+4.7%	$85.2M+22.3%	$69.6M+0.9%	$69.0M-9.4%	$76.2M+12.9%	$67.5M
Income Tax	-$50.7M+7.8%	-$55.0M+26.8%	-$75.1M-393.0%	$25.6M+16.8%	$21.9M+133.4%	-$65.6M
Net Income	-$163.7M+4.3%	-$171.2M+18.5%	-$210.0M-328.5%	$91.9M-15.2%	$108.4M+128.0%	-$387.7M
EPS (Diluted)	$-3.13+5.2%	$-3.30+19.3%	$-4.09-328.5%	$1.79-15.6%	$2.12+127.5%	$-7.72

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.4B+3.0%	$1.4B+10.2%	$1.2B+16.8%	$1.1B-5.3%	$1.1B+7.5%	$1.0B+2.7%	$1.0B-3.7%	$1.1B
Cost of Revenue	$1.2B+5.8%	$1.2B+5.9%	$1.1B+3.3%	$1.1B+6.6%	$1.0B+8.2%	$933.7M-4.0%	$972.6M-3.7%	$1.0B
Gross Profit	$169.4M-13.6%	$196.0M+45.8%	$134.4M+1520.3%	-$9.5M-108.1%	$117.1M+1.6%	$115.3M+135.6%	$48.9M-3.9%	$50.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$129.3M+8.1%	$119.6M+73.1%	$69.1M-10.0%	$76.8M+0.3%	$76.6M+15.3%	$66.4M-6.9%	$71.4M+12.5%	$63.5M
Operating Income	$40.1M-47.5%	$76.4M+17.0%	$65.3M+175.7%	-$86.2M-313.0%	$40.5M-17.0%	$48.8M+317.2%	-$22.5M-78.8%	-$12.6M
Interest Expense	$13.5M-0.3%	$13.6M-5.3%	$14.4M-43.8%	$25.5M+10.5%	$23.1M+19.6%	$19.3M-9.4%	$21.3M+4.9%	$20.3M
Income Tax	$15.2M-31.0%	$22.0M+70.1%	$12.9M+141.2%	-$31.3M-530.3%	$7.3M-0.4%	$7.3M+347.5%	-$3.0M+27.7%	-$4.1M
Net Income	$3.6M-81.8%	$20.0M-28.7%	$28.0M+135.2%	-$79.4M-9882.1%	$812K-94.8%	$15.8M+133.2%	-$47.5M-28.8%	-$36.9M
EPS (Diluted)	$0.07-81.6%	$0.38-28.3%	$0.53+134.6%	$-1.53-7750.0%	$0.02-93.3%	$0.30+132.6%	$-0.92-29.6%	$-0.71

TPC Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$4.2B-4.2%	$4.4B-2.5%	$4.5B-3.9%	$4.7B-6.4%	$5.0B+12.5%	$4.5B
Current Assets	$3.3B-6.7%	$3.5B-4.3%	$3.7B-4.8%	$3.9B-5.3%	$4.1B+16.2%	$3.5B
Cash & Equivalents	$455.1M+19.6%	$380.6M+46.7%	$259.4M+28.3%	$202.2M-46.0%	$374.3M+93.2%	$193.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M
Total Liabilities	$3.1B-2.0%	$3.1B+1.5%	$3.1B+1.6%	$3.1B-12.9%	$3.5B+14.6%	$3.1B
Current Liabilities	$2.3B+9.8%	$2.1B+8.0%	$2.0B+10.7%	$1.8B-21.5%	$2.3B+7.3%	$2.1B
Long-Term Debt	$510.0M-34.8%	$782.3M-11.9%	$888.2M-8.4%	$969.2M+4.8%	$925.3M+30.2%	$710.4M
Total Equity	$1.1B-12.1%	$1.3B-10.9%	$1.4B-12.4%	$1.7B+6.5%	$1.6B+7.9%	$1.4B
Retained Earnings	-$30.6M-123.0%	$133.1M-56.2%	$304.3M-40.8%	$514.3M+21.8%	$422.4M+34.5%	$314.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$5.2B+6.1%	$4.9B+9.3%	$4.5B+5.0%	$4.2B-1.2%	$4.3B-1.8%	$4.4B-1.3%	$4.4B-1.2%	$4.5B
Current Assets	$4.2B+7.0%	$3.9B+11.7%	$3.5B+6.2%	$3.3B-3.2%	$3.4B-2.0%	$3.5B-1.6%	$3.5B-1.3%	$3.6B
Cash & Equivalents	$695.7M+32.2%	$526.1M+90.3%	$276.5M-39.2%	$455.1M+70.4%	$267.1M-25.5%	$358.3M-5.8%	$380.6M+31.2%	$290.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M0.0%	$205.1M
Total Liabilities	$3.9B+7.8%	$3.6B+11.1%	$3.3B+5.9%	$3.1B+3.6%	$3.0B-2.9%	$3.1B-2.5%	$3.1B-0.2%	$3.2B
Current Liabilities	$3.2B+8.5%	$3.0B+12.5%	$2.6B+12.7%	$2.3B+13.2%	$2.1B+0.9%	$2.0B-3.8%	$2.1B+4.3%	$2.0B
Long-Term Debt	$393.0M-0.1%	$393.3M+0.4%	$391.8M-23.2%	$510.0M-22.5%	$657.8M-15.7%	$780.1M-0.3%	$782.3M-10.8%	$876.8M
Total Equity	$1.2B+0.5%	$1.2B+2.1%	$1.2B+2.2%	$1.1B-13.4%	$1.3B+0.2%	$1.3B+1.2%	$1.3B-3.0%	$1.3B
Retained Earnings	$21.0M+20.9%	$17.4M+775.1%	-$2.6M+91.6%	-$30.6M-120.4%	$149.7M+0.5%	$148.9M+11.8%	$133.1M-26.3%	$180.7M

TPC Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$503.5M+63.2%	$308.5M+49.0%	$207.0M+239.4%	-$148.5M-185.9%	$172.8M+26.5%	$136.5M
Capital Expenditures	$37.4M-29.4%	$53.0M-11.4%	$59.8M+54.9%	$38.6M-29.5%	$54.8M-34.9%	$84.2M
Free Cash Flow	$466.1M+82.4%	$255.5M+73.6%	$147.2M+178.7%	-$187.0M-258.5%	$118.0M+125.5%	$52.3M
Investing Cash Flow	-$40.7M+48.0%	-$78.2M-19.2%	-$65.6M-75.8%	-$37.3M+19.5%	-$46.4M+39.0%	-$76.1M
Financing Cash Flow	-$393.3M-259.6%	-$109.4M-38.6%	-$78.9M-44.3%	-$54.7M-144.3%	$123.3M+466.7%	$21.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$289.1M+10.2%	$262.4M+1047.8%	$22.9M-93.1%	$329.6M+520.2%	$53.1M-45.9%	$98.3M-23.0%	$127.7M+23.7%	$103.2M
Capital Expenditures	$49.0M+82.4%	$26.8M-10.9%	$30.1M+229.3%	$9.1M-16.3%	$10.9M+4.6%	$10.4M+41.7%	$7.4M-50.8%	$15.0M
Free Cash Flow	$240.2M+2.0%	$235.6M+3353.4%	-$7.2M-102.3%	$320.4M+658.9%	$42.2M-51.9%	$87.8M-27.0%	$120.3M+36.4%	$88.2M
Investing Cash Flow	-$63.3M-44.4%	-$43.8M-83.5%	-$23.9M-78.3%	-$13.4M+2.2%	-$13.7M-32.7%	-$10.3M+70.3%	-$34.8M-143.8%	-$14.3M
Financing Cash Flow	-$14.8M-227.0%	$11.7M+108.0%	-$146.4M+4.6%	-$153.4M-15.3%	-$133.0M-21.4%	-$109.6M-264.1%	-$30.1M+4.2%	-$31.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TPC Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	4.5%+0.9pp	3.6%+2.8pp	0.8%-9.3pp	10.1%+0.9pp	9.1%+3.7pp	5.4%
Operating Margin	-2.4%+0.5pp	-2.9%+2.5pp	-5.4%-10.3pp	4.9%-0.0pp	4.9%+13.1pp	-8.2%
Net Margin	-3.8%+0.6pp	-4.4%+1.1pp	-5.5%-7.5pp	2.0%-0.1pp	2.0%+10.8pp	-8.7%
Return on Equity	N/A	N/A	N/A	5.5%-1.4pp	7.0%	N/A
Return on Assets	-3.9%0.0pp	-3.9%+0.8pp	-4.6%-6.6pp	1.9%-0.2pp	2.1%+10.8pp	-8.6%
Current Ratio	1.41-0.2	1.66-0.2	1.87-0.3	2.17+0.4	1.80+0.1	1.66
Debt-to-Equity	0.45-0.2	0.610.0	0.61+0.0	0.590.0	0.60+0.1	0.49
FCF Margin	10.8%+4.2pp	6.6%+2.7pp	3.9%+7.9pp	-4.0%-6.3pp	2.2%+1.0pp	1.2%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	12.0%-2.3pp	14.3%+3.5pp	10.8%+11.7pp	-0.9%-11.3pp	10.4%-0.6pp	11.0%+6.2pp	4.8%-0.0pp	4.8%
Operating Margin	2.8%-2.7pp	5.6%+0.3pp	5.2%+13.3pp	-8.1%-11.7pp	3.6%-1.1pp	4.7%+6.9pp	-2.2%-1.0pp	-1.2%
Net Margin	0.3%-1.2pp	1.5%-0.8pp	2.3%+9.7pp	-7.4%-7.5pp	0.1%-1.4pp	1.5%+6.2pp	-4.7%-1.2pp	-3.5%
Return on Equity	0.3%-1.4pp	1.7%-0.7pp	2.4%	N/A	0.1%-1.1pp	1.2%	N/A	N/A
Return on Assets	0.1%-0.3pp	0.4%-0.2pp	0.6%+2.5pp	-1.9%-1.9pp	0.0%-0.3pp	0.4%+1.4pp	-1.1%-0.2pp	-0.8%
Current Ratio	1.30-0.0	1.320.0	1.33-0.1	1.41-0.2	1.65-0.0	1.70+0.0	1.66-0.1	1.75
Debt-to-Equity	0.330.0	0.330.0	0.34-0.1	0.45-0.1	0.50-0.1	0.600.0	0.61-0.1	0.66
FCF Margin	17.0%-0.2pp	17.2%+17.7pp	-0.6%-30.6pp	30.0%+26.3pp	3.7%-4.6pp	8.4%-3.4pp	11.8%+3.5pp	8.3%

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Frequently Asked Questions

What is Tutor Perini's annual revenue?

Tutor Perini (TPC) reported $4.3B in total revenue for fiscal year 2024. This represents a 11.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Tutor Perini's revenue growing?

Tutor Perini (TPC) revenue grew by 11.5% year-over-year, from $3.9B to $4.3B in fiscal year 2024.

Is Tutor Perini profitable?

No, Tutor Perini (TPC) reported a net income of -$163.7M in fiscal year 2024, with a net profit margin of -3.8%.

What is Tutor Perini's earnings per share (EPS)?

Tutor Perini (TPC) reported diluted earnings per share of $-3.13 for fiscal year 2024. This represents a 5.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Tutor Perini's EBITDA?

Tutor Perini (TPC) had EBITDA of -$50.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Tutor Perini have?

As of fiscal year 2024, Tutor Perini (TPC) had $455.1M in cash and equivalents against $510.0M in long-term debt.

What is Tutor Perini's gross margin?

Tutor Perini (TPC) had a gross margin of 4.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Tutor Perini's operating margin?

Tutor Perini (TPC) had an operating margin of -2.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Tutor Perini's net profit margin?

Tutor Perini (TPC) had a net profit margin of -3.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Tutor Perini's free cash flow?

Tutor Perini (TPC) generated $466.1M in free cash flow during fiscal year 2024. This represents a 82.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Tutor Perini's operating cash flow?

Tutor Perini (TPC) generated $503.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Tutor Perini's total assets?

Tutor Perini (TPC) had $4.2B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Tutor Perini's capital expenditures?

Tutor Perini (TPC) invested $37.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Tutor Perini have outstanding?

Tutor Perini (TPC) had 52M shares outstanding as of fiscal year 2024.

What is Tutor Perini's current ratio?

Tutor Perini (TPC) had a current ratio of 1.41 as of fiscal year 2024, which is considered adequate.

What is Tutor Perini's debt-to-equity ratio?

Tutor Perini (TPC) had a debt-to-equity ratio of 0.45 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tutor Perini's return on assets (ROA)?

Tutor Perini (TPC) had a return on assets of -3.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Tutor Perini's Piotroski F-Score?

Tutor Perini (TPC) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tutor Perini's earnings high quality?

Tutor Perini (TPC) has an earnings quality ratio of -3.08x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Tutor Perini cover its interest payments?

Tutor Perini (TPC) has an interest coverage ratio of -1.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Tutor Perini?

Tutor Perini (TPC) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.