Tetra Tech Financials
This page shows Tetra Tech (TTEK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Tetra Tech has an operating margin of 7.5%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is down from 9.6% the prior year.
Tetra Tech's revenue grew a modest 4.7% year-over-year to $5.4B. This slow but positive growth earns a score of 42/100.
Tetra Tech carries a low D/E ratio of 0.43, meaning only $0.43 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Tetra Tech's current ratio of 1.18 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.
Tetra Tech has a free cash flow margin of 8.1%, earning a moderate score of 40/100. The company generates positive cash flow after capital investments, but with room for improvement.
Tetra Tech's ROE of 13.9% shows moderate profitability relative to equity, earning a score of 56/100. This is down from 18.2% the prior year.
Tetra Tech scores 4.59, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($9.7B) relative to total liabilities ($2.5B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Tetra Tech passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Tetra Tech generates $1.85 in operating cash flow ($457.7M OCF vs $247.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Tetra Tech earns $10.0 in operating income for every $1 of interest expense ($408.4M vs $40.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Tetra Tech generated $5.4B in revenue in fiscal year 2025. This represents an increase of 4.7% from the prior year.
Tetra Tech's EBITDA was $466.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 18.8% from the prior year.
Tetra Tech generated $439.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 28.9% from the prior year.
Tetra Tech reported $247.9M in net income in fiscal year 2025. This represents a decrease of 25.6% from the prior year.
Tetra Tech earned $0.93 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 24.4% from the prior year.
Tetra Tech held $167.5M in cash against $763.4M in long-term debt as of fiscal year 2025.
Tetra Tech paid $0.25 per share in dividends in fiscal year 2025. This represents an increase of 11.8% from the prior year.
Tetra Tech had 261M shares outstanding in fiscal year 2025. This represents a decrease of 2.6% from the prior year.
Tetra Tech's gross margin was 17.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.0 percentage points from the prior year.
Tetra Tech's operating margin was 7.5% in fiscal year 2025, reflecting core business profitability. This is down 2.1 percentage points from the prior year.
Tetra Tech's net profit margin was 4.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.
Tetra Tech's ROE was 13.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.3 percentage points from the prior year.
Tetra Tech spent $250.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Tetra Tech invested $18.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 2.7% from the prior year.
TTEK Income Statement
| Metric | Q1'26 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B-9.0% | $1.3B-2.9% | $1.4B+3.6% | $1.3B-3.8% | $1.4B+2.2% | $1.3B+7.4% | $1.3B+1.9% | $1.2B |
| Cost of Revenue | $173.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $220.4M | N/A | $251.5M+17.4% | $214.2M | N/A | $223.2M+7.6% | $207.5M+8.9% | $190.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $141.0M-22.2% | $181.3M+9.9% | $165.0M+316.6% | $39.6M-72.4% | $143.3M+11.4% | $128.6M+9.3% | $117.7M+5.9% | $111.1M |
| Interest Expense | $7.1M | N/A | $8.3M-2.4% | $8.5M | N/A | $9.9M+0.3% | $9.9M+3.2% | $9.6M |
| Income Tax | $36.4M | N/A | $42.8M+66.6% | $25.7M | N/A | $32.9M+5.0% | $31.3M+18.2% | $26.5M |
| Net Income | $105.2M-17.6% | $127.7M+12.2% | $113.8M+2012.9% | $5.4M-94.4% | $96.2M+12.1% | $85.8M+12.2% | $76.4M+2.0% | $75.0M |
| EPS (Diluted) | $0.40-16.7% | $0.48+11.6% | $0.43+2050.0% | $0.02-94.3% | $0.35 | $0.32+14.3% | $0.280.0% | $0.28 |
TTEK Balance Sheet
| Metric | Q1'26 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3B-0.4% | $4.3B-1.6% | $4.4B+4.0% | $4.2B-0.2% | $4.2B+2.6% | $4.1B+0.4% | $4.1B+3.0% | $4.0B |
| Current Assets | $1.6B-1.0% | $1.6B+0.1% | $1.6B-2.8% | $1.7B+9.1% | $1.5B+1.4% | $1.5B+1.8% | $1.5B+1.8% | $1.5B |
| Cash & Equivalents | $269.4M+60.9% | $167.5M-31.0% | $242.8M+35.3% | $179.4M-22.9% | $232.7M+9.6% | $212.3M+1.0% | $210.3M+5.8% | $198.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.1B-6.6% | $1.2B+2.8% | $1.1B-7.8% | $1.2B+16.3% | $1.1B-0.2% | $1.1B+1.5% | $1.0B-0.3% | $1.0B |
| Goodwill | $2.1B+0.8% | $2.0B-1.7% | $2.1B+9.0% | $1.9B-6.5% | $2.0B+2.7% | $2.0B+0.7% | $2.0B+2.8% | $1.9B |
| Total Liabilities | $2.4B-3.3% | $2.5B-4.2% | $2.6B0.0% | $2.6B+10.5% | $2.4B-2.3% | $2.4B-2.7% | $2.5B+3.0% | $2.4B |
| Current Liabilities | $1.2B-11.5% | $1.4B+0.2% | $1.4B-9.3% | $1.5B+24.4% | $1.2B-2.1% | $1.2B+4.4% | $1.2B+2.8% | $1.2B |
| Long-Term Debt | $834.3M+9.3% | $763.4M-11.5% | $862.5M+12.9% | $764.2M-6.0% | $812.6M-5.7% | $861.8M-9.4% | $951.0M+0.6% | $945.3M |
| Total Equity | $1.8B+3.7% | $1.8B+2.2% | $1.7B+10.7% | $1.6B-14.0% | $1.8B+9.9% | $1.7B+5.1% | $1.6B+3.1% | $1.5B |
| Retained Earnings | $1.9B+2.5% | $1.9B+3.8% | $1.8B+4.7% | $1.7B-7.8% | $1.9B+4.4% | $1.8B+4.1% | $1.7B+3.8% | $1.7B |
TTEK Cash Flow Statement
| Metric | Q1'26 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $72.3M-28.3% | $100.8M-71.2% | $349.6M+6103.7% | -$5.8M-105.5% | $105.6M-25.1% | $140.9M+36.9% | $102.9M+1013.3% | $9.2M |
| Capital Expenditures | $4.2M-20.7% | $5.2M+30.1% | $4.0M-32.2% | $5.9M-12.8% | $6.8M+76.4% | $3.9M-4.2% | $4.0M+17.3% | $3.4M |
| Free Cash Flow | $68.1M-28.8% | $95.6M-72.3% | $345.6M+3038.1% | -$11.8M-111.9% | $98.8M-27.9% | $137.1M+38.6% | $98.9M+1601.8% | $5.8M |
| Investing Cash Flow | $37.5M+2366.1% | $1.5M+101.6% | -$95.5M-923.1% | -$9.3M-38.6% | -$6.7M+73.2% | -$25.1M+66.8% | -$75.7M-2105.2% | -$3.4M |
| Financing Cash Flow | -$10.9M+93.8% | -$175.3M+11.3% | -$197.6M-247.6% | -$56.8M+32.3% | -$83.9M+25.8% | -$113.1M-786.4% | -$12.8M-169.4% | $18.4M |
| Dividends Paid | $16.9M-0.6% | $17.0M-0.3% | $17.1M+11.3% | $15.4M-1.1% | $15.5M0.0% | $15.5M+11.6% | $13.9M+0.3% | $13.9M |
| Share Buybacks | $50.0M0.0% | $50.0M+100.0% | $25.0M-83.3% | $150.0M | $0 | $0 | $0 | $0 |
TTEK Financial Ratios
| Metric | Q1'26 | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.2% | N/A | 18.4%+2.2pp | 16.2% | N/A | 16.6%+0.0pp | 16.6%+1.1pp | 15.5% |
| Operating Margin | 11.7%-2.0pp | 13.6%+1.6pp | 12.0%+9.0pp | 3.0%-7.4pp | 10.4%+0.9pp | 9.6%+0.2pp | 9.4%+0.4pp | 9.0% |
| Net Margin | 8.7%-0.9pp | 9.6%+1.3pp | 8.3%+7.9pp | 0.4%-6.6pp | 7.0%+0.6pp | 6.4%+0.3pp | 6.1%+0.0pp | 6.1% |
| Return on Equity | 5.7%-1.5pp | 7.2%+0.6pp | 6.5%+6.2pp | 0.3%-4.9pp | 5.3%+0.1pp | 5.1%+0.3pp | 4.8%-0.1pp | 4.9% |
| Return on Assets | 2.5%-0.5pp | 3.0%+0.4pp | 2.6%+2.5pp | 0.1%-2.2pp | 2.3%+0.2pp | 2.1%+0.2pp | 1.9%-0.0pp | 1.9% |
| Current Ratio | 1.31+0.1 | 1.180.0 | 1.18+0.1 | 1.10-0.2 | 1.25+0.0 | 1.21-0.0 | 1.24-0.0 | 1.25 |
| Debt-to-Equity | 0.45+0.0 | 0.43-0.1 | 0.500.0 | 0.49+0.0 | 0.44-0.1 | 0.52-0.1 | 0.60-0.0 | 0.61 |
| FCF Margin | 5.6%-1.6pp | 7.2%-18.0pp | 25.2%+26.1pp | -0.9%-8.1pp | 7.2%-3.0pp | 10.2%+2.3pp | 7.9%+7.4pp | 0.5% |
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Frequently Asked Questions
What is Tetra Tech's annual revenue?
Tetra Tech (TTEK) reported $5.4B in total revenue for fiscal year 2025. This represents a 4.7% 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 Tetra Tech's revenue growing?
Tetra Tech (TTEK) revenue grew by 4.7% year-over-year, from $5.2B to $5.4B in fiscal year 2025.
Is Tetra Tech profitable?
Yes, Tetra Tech (TTEK) reported a net income of $247.9M in fiscal year 2025, with a net profit margin of 4.6%.
What is Tetra Tech's earnings per share (EPS)?
Tetra Tech (TTEK) reported diluted earnings per share of $0.93 for fiscal year 2025. This represents a -24.4% 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 Tetra Tech's EBITDA?
Tetra Tech (TTEK) had EBITDA of $466.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Tetra Tech have?
As of fiscal year 2025, Tetra Tech (TTEK) had $167.5M in cash and equivalents against $763.4M in long-term debt.
What is Tetra Tech's gross margin?
Tetra Tech (TTEK) had a gross margin of 17.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Tetra Tech's operating margin?
Tetra Tech (TTEK) had an operating margin of 7.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Tetra Tech's net profit margin?
Tetra Tech (TTEK) had a net profit margin of 4.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Tetra Tech pay dividends?
Yes, Tetra Tech (TTEK) paid $0.25 per share in dividends during fiscal year 2025.
What is Tetra Tech's return on equity (ROE)?
Tetra Tech (TTEK) has a return on equity of 13.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tetra Tech's free cash flow?
Tetra Tech (TTEK) generated $439.1M in free cash flow during fiscal year 2025. This represents a 28.9% 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 Tetra Tech's operating cash flow?
Tetra Tech (TTEK) generated $457.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Tetra Tech's total assets?
Tetra Tech (TTEK) had $4.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tetra Tech's capital expenditures?
Tetra Tech (TTEK) invested $18.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Tetra Tech buy back shares?
Yes, Tetra Tech (TTEK) spent $250.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Tetra Tech have outstanding?
Tetra Tech (TTEK) had 261M shares outstanding as of fiscal year 2025.
What is Tetra Tech's current ratio?
Tetra Tech (TTEK) had a current ratio of 1.18 as of fiscal year 2025, which is considered adequate.
What is Tetra Tech's debt-to-equity ratio?
Tetra Tech (TTEK) had a debt-to-equity ratio of 0.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tetra Tech's return on assets (ROA)?
Tetra Tech (TTEK) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tetra Tech's Altman Z-Score?
Tetra Tech (TTEK) has an Altman Z-Score of 4.59, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Tetra Tech's Piotroski F-Score?
Tetra Tech (TTEK) has a Piotroski F-Score of 7 out of 9, indicating strong 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 Tetra Tech's earnings high quality?
Tetra Tech (TTEK) has an earnings quality ratio of 1.85x, considered cash-backed (high 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 Tetra Tech cover its interest payments?
Tetra Tech (TTEK) has an interest coverage ratio of 10.0x, meaning it can comfortably 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 Tetra Tech?
Tetra Tech (TTEK) scores 50 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.