Tetra Tech (TTEK) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Tetra Tech

NasdaqGS•Industrials•Engineering & Construction

$35.91-0.38(-0.01%)Pre-market

Market Cap

$9.32B

P/E

21.3x

P/S

1.8x

P/B

5.0x

Tetra Tech, Inc. provides consulting and engineering services focusing on water, environment, and sustainable infrastructure in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers consulting and engineering services, including water resources analysis and water management, environmental monitoring, data analytics, government consulting, waste management, and civil infrastructure master planning and resilient engineering design for facilities, as well as transportation and local development projects primarily to government clients, including federal, state, and local, as well as international development agencies. It also offers sustainable solutions, such as energy management consulting, and greenhouse gas inventory assessment, certification, reduction, and management services. The CIG segment provides consulting and engineering services, including natural resources, energy, and utilities, as well as sustainable infrastructure master planning and engineering design for facilities; and transportation and local development projects to commercial and international clients, including the commercial and government sectors. The company offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; climate change consulting; greenhouse gas inventory assessment, certification, reduction, and management services; environmental remediation and reconstruction services, industrial water treatment and reuse services; and engineering services, such as data centers, advanced manufacturing, security systems, training and audiovisual facilities, clean rooms, laboratories, medical facilities, and disaster preparedness facilities. The company was founded in 1966 and is headquartered in Pasadena, California.

How this company scores

GoodMetricSide Score: 79/100

Strongest: Cash & Earnings Quality (24/25); weakest: Growth (14/25).

Profitability23/25

Growth14/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality24/25

Strengths

Rising free cash flowHigh ROERising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 21.3x5y range 17.6x – 43.3x

Currently below its 20-quarter median.

P/S · 1.8x5y range 1.4x – 2.8x

Currently near its 20-quarter median.

P/B · 5.0x5y range 4.2x – 7.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Revenue Decline

Watch

Revenue has softened, declining in 4 quarters. Watch for further erosion.

Price & Volume

Market Cap $9.32B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $5.07B
Q. Revenue: $1.31B
TTM EBITDA: $697.06M
TTM Op. Income: $611.75M
Q. Op. Income: $157.93M
TTM Net Income: $436.70M
Q. Net Income: $109.80M
EPS: $0.42
Shares Out.: $258.15M

$5.07B in TTM revenue declined 7.6% YoY, reaching $1.31B last quarter. TTM EBITDA of $697.06M and TTM operating income of $611.75M show growth is flowing through to the bottom line. TTM net income of $436.70M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 4 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 18.6%
EBITDA Margin: 13.2%
Op. Margin: 12.1%
Net Margin: 8.4%

Op. margin of 12.1% is up 0.0% YoY — cost efficiency is improving. Net margin at 8.4% and gross margin of 18.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 0% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 21.3x
P/S Ratio: 1.8x
P/B Ratio: 5.0x

At 21.3x P/E, the stock trades within typical market levels. P/S of 1.8x and P/B of 5.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 51% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.39B
Cash: $230.84M
Long-Term Debt: $801.06M
Book Value: $1.85B
D/E Ratio: 0.4
Debt/EBITDA: 4.6

With $4.39B in assets and $801.06M in long-term debt, D/E is 0.4and book value is $1.85B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 13% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $228.94M
TTM Free Cash Flow: $548.21M
FCF Margin: 10.8%
FCF / Net Income: 1.3

TTM FCF of $548.21M on $228.94M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 24% — a weakening trend.