Tearsheet

Tetra Tech (TTEK)

Market Price (3/21/2026): $30.43 | Market Cap: $7.9 Bil
Sector: Industrials | Industry: Construction & Engineering

Tetra Tech (TTEK)

Market Price (3/21/2026): $30.43
Market Cap: $7.9 Bil
Sector: Industrials
Industry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, FCF Yield is 6.3%	Weak multi-year price returns 2Y Excs Rtn is -41%, 3Y Excs Rtn is -56%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -15%
1	Low stock price volatility Vol 12M is 37%		Key risks TTEK key risks include [1] a substantial reliance on U.S. Show more.
2	Megatrend and thematic drivers Megatrends include Water Infrastructure, Sustainable Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.3%, FCF Yield is 6.3%
1	Low stock price volatility Vol 12M is 37%
2	Megatrend and thematic drivers Megatrends include Water Infrastructure, Sustainable Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -41%, 3Y Excs Rtn is -56%
4	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -15%
5	Key risks TTEK key risks include [1] a substantial reliance on U.S. Show more.

Valuation, Metrics & Events

	3/21/26	2025	2024	2023	2022
Share Price CYE	$30.43	$33.54	$39.84	$33.39	$29.04
Market Cap CYE ($ Bil)	7.9	8.7	10.7	8.9	7.7
Total Debt ($ Bil)	1.1	1.1	1.1	1.2	0.5
Total Cash ($ Bil)	0.3	0.3	0.2	0.2	0.2
Enterprise Value ($ Bil)	8.7	9.8	11.8	10.1	8.2
Valuation Ratios
P/S TTM	1.5	1.7	2.0	1.8	2.2
P/EBIT TTM	14.6	16.1	25.4	22.0	17.7
P/E TTM	22.5	24.9	41.2	38.4	24.7
P/FCF TTM	16.0	17.6	31.0	27.2	29.1
Sector Ratios
P/S TTM (Sector)	1.7	1.6	1.5	1.4	1.2
P/EBIT TTM (Sector)	12.0	12.3	11.8	11.5	9.3
P/E TTM (Sector)	16.7	17.0	16.9	16.2	12.8
P/FCF TTM (Sector)	12.5	13.0	13.4	11.9	9.9

	3/21/26	2025	2024
Share Price CYE	$30.43	$33.54	$39.84
Market Cap CYE ($ Bil)	7.9	8.7	10.7
Total Debt ($ Bil)	1.1	1.1	1.1
Total Cash ($ Bil)	0.3	0.3	0.2
Enterprise Value ($ Bil)	8.7	9.8	11.8
Valuation Ratios
P/S TTM	1.5	1.7	2.0
P/EBIT TTM	14.6	16.1	25.4
P/E TTM	22.5	24.9	41.2
P/FCF TTM	16.0	17.6	31.0
Sector Ratios
P/S TTM (Sector)	1.7	1.6	1.5
P/EBIT TTM (Sector)	12.0	12.3	11.8
P/E TTM (Sector)	16.7	17.0	16.9
P/FCF TTM (Sector)	12.5	13.0	13.4

	TTEK	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	5.2
Rev Chg Q	-14.8%	7.3%
Rev Chg LTM	-2.9%	6.6%
Rev Chg 3Y Avg	15.1%	5.7%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.6
CFO LTM ($ Bil)	0.5
Net Inc LTM ($ Bil)	0.4
Op Mgn LTM	11.5%	18.7%
CFO/Rev LTM	9.9%	20.9%
Net Inc Mgn	6.7%	12.8%
VALUATION	MODERATE
P/S	1.5	3.1
P/CFO	15.4	14.9
P/FCF	16.0	19.3
P/E	22.5	23.4
STABILITY	GOOD
Debt/Equity	0.13	0.22
Cash/Assets	0.06	0.07

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Metric	Value	Date	Source
Backlog	US$5.44 billion	12292024	Link
Book-to-Bill Ratio	1.1x	5072025	Link
Number of Employees	30,000	11072025	Link
Number of Projects Annually	100,000	4222024	Link
Number of Patents	249	7212025	Link

Upcoming
5/06/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $0.32 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Tetra Tech (TTEK) stock has lost about 10% since 11/30/2025 because of the following key factors:

1. Year-over-year revenue contraction despite beating estimates.

Tetra Tech's Q1 Fiscal Year 2026 results, reported on January 28, 2026, for the period ending December 28, 2025, indicated a 13.4% year-on-year decline in sales, reaching $1.04 billion. This occurred even as the company's revenue surpassed market expectations. This significant year-over-year decrease in revenue could have raised concerns among investors regarding the company's underlying growth trajectory, despite outperforming short-term analyst estimates.

2. Initial conservative EPS guidance for the first quarter of fiscal year 2026.

When Tetra Tech announced its Fourth Quarter and Fiscal Year 2025 results on November 12, 2025, it provided initial guidance for Q1 Fiscal Year 2026. The GAAP EPS guidance for Q1 FY2026 was set at $0.32 at the midpoint, which missed analyst estimates by 5.5%. This initially conservative outlook for the upcoming quarter, falling at the beginning of the specified period, may have tempered investor expectations and contributed to early selling pressure, despite the company ultimately surpassing these estimates with actual reported adjusted EPS of $0.35.

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Stock Movement Drivers

Fundamental Drivers

The -12.2% change in TTEK stock from 11/30/2025 to 3/20/2026 was primarily driven by a -38.5% change in the company's P/E Multiple.

(LTM values as of)	11302025	3202026	Change
Stock Price ($)	34.62	30.40	-12.2%
Change Contribution By:
Total Revenues ($ Mil)	5,443	5,233	-3.9%
Net Income Margin (%)	4.6%	6.7%	47.8%
P/E Multiple	36.6	22.5	-38.5%
Shares Outstanding (Mil)	262	261	0.5%
Cumulative Contribution			-12.2%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/20/2026

	Return	Correlation
TTEK	-12.2%
Market (SPY)	-4.8%	32.1%
Sector (XLI)	5.2%	42.3%

Fundamental Drivers

The -16.2% change in TTEK stock from 8/31/2025 to 3/20/2026 was primarily driven by a -49.0% change in the company's P/E Multiple.

(LTM values as of)	8312025	3202026	Change
Stock Price ($)	36.29	30.40	-16.2%
Change Contribution By:
Total Revenues ($ Mil)	5,487	5,233	-4.6%
Net Income Margin (%)	3.9%	6.7%	70.8%
P/E Multiple	44.2	22.5	-49.0%
Shares Outstanding (Mil)	263	261	0.9%
Cumulative Contribution			-16.2%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/20/2026

	Return	Correlation
TTEK	-16.2%
Market (SPY)	1.1%	11.4%
Sector (XLI)	6.8%	25.3%

Fundamental Drivers

The 4.9% change in TTEK stock from 2/28/2025 to 3/20/2026 was primarily driven by a 39.9% change in the company's Net Income Margin (%).

(LTM values as of)	2282025	3202026	Change
Stock Price ($)	28.98	30.40	4.9%
Change Contribution By:
Total Revenues ($ Mil)	5,391	5,233	-2.9%
Net Income Margin (%)	4.8%	6.7%	39.9%
P/E Multiple	30.0	22.5	-24.8%
Shares Outstanding (Mil)	268	261	2.7%
Cumulative Contribution			4.9%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/20/2026

	Return	Correlation
TTEK	4.9%
Market (SPY)	10.4%	28.8%
Sector (XLI)	19.8%	36.9%

Fundamental Drivers

The 13.2% change in TTEK stock from 2/28/2023 to 3/20/2026 was primarily driven by a 47.8% change in the company's Total Revenues ($ Mil).

(LTM values as of)	2282023	3202026	Change
Stock Price ($)	26.85	30.40	13.2%
Change Contribution By:
Total Revenues ($ Mil)	3,540	5,233	47.8%
Net Income Margin (%)	8.8%	6.7%	-23.5%
P/E Multiple	22.9	22.5	-1.6%
Shares Outstanding (Mil)	265	261	1.7%
Cumulative Contribution			13.2%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/20/2026

	Return	Correlation
TTEK	13.2%
Market (SPY)	70.3%	30.6%
Sector (XLI)	67.1%	37.8%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
TTEK Return	47%	-14%	16%	20%	-15%	-8%	38%
Peers Return	14%	9%	9%	13%	0%	31%	100%
S&P 500 Return	27%	-19%	24%	23%	16%	-3%	76%
Monthly Win Rates [3]
TTEK Win Rate	67%	50%	50%	58%	50%	33%
Peers Win Rate	52%	45%	47%	53%	45%	60%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
TTEK Max Drawdown	-1%	-29%	-9%	-5%	-30%	-8%
Peers Max Drawdown	-9%	-10%	-12%	-2%	-19%	-11%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-3%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: LDOS, J, BAH, KBR, MGN. See TTEK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/20/2026 (YTD)

How Low Can It Go

Unique Key	Event	TTEK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-37.2%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	59.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	657 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-32.9%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	49.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	184 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-32.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	48.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	127 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-49.9%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	99.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	211 days	1,480 days

Compare to LDOS, J, BAH, KBR, MGN

In The Past

Tetra Tech's stock fell -37.2% during the 2022 Inflation Shock from a high on 11/23/2021. A -37.2% loss requires a 59.4% gain to breakeven.

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About Tetra Tech (TTEK)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Tetra Tech, Inc. provides consulting and engineering services worldwide. The company operates through two segments Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment 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; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services. This segment serves federal, state, and local governments, and development agencies in water resources analysis and water management, environmental monitoring, data analytics, government consulting, waste management, and a range of civil infrastructure master planning and engineering design markets. The CIG segment provides early data collection and monitoring, data analysis and information management, feasibility studies and assessments, science and engineering applied research, engineering design, project management, and operations and maintenance services. This segment serves natural resources, energy, and utilities markets, as well as sustainable infrastructure master planning and engineering design markets. Tetra Tech, Inc. was founded in 1966 and is headquartered in Pasadena, California.

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Here are 1-3 brief analogies to describe Tetra Tech (TTEK):

The "Accenture for environmental and infrastructure engineering."
The "IBM for water management and sustainable development."

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Consulting and Engineering Design: Provides comprehensive consulting services, including early data collection, monitoring, data analysis, scientific and engineering applied research, feasibility studies, and detailed engineering design for complex projects.
Project Management and Operations: Offers end-to-end project management services and provides ongoing operations and maintenance support for various infrastructure and environmental systems.
Environmental and Water Management: Delivers specialized services in water resources analysis, water management, environmental monitoring, and waste management solutions.
Climate Change and Energy Management: Furnishes consulting services related to climate change, energy management, greenhouse gas inventory assessment, certification, reduction, and overall sustainability strategies.
Infrastructure Master Planning and Engineering: Specializes in master planning and engineering design for civil, sustainable, and critical infrastructure across governmental, commercial, and international sectors.

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Tetra Tech (TTEK) primarily sells its consulting and engineering services to governments and other companies, not individuals.

Major Customers:

Government Agencies:

This includes federal, state, and local governments, as well as development agencies worldwide.
Commercial Entities:

Companies operating within the natural resources, energy, and utilities markets.

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Roger R. Argus, Chief Executive Officer

Mr. Argus was promoted to President of Tetra Tech and appointed Chief Executive Officer in February 2026. He brings 40 years of professional experience, with over 30 years at Tetra Tech. Previously, he served as Executive Vice President of Corporate Development and President of the Commercial/International Services Group. Mr. Argus has directed Tetra Tech's mergers and acquisitions program, identifying, negotiating, and integrating companies.

Steven M. Burdick, Executive Vice President and Chief Financial Officer

Mr. Burdick has served as Executive Vice President and Chief Financial Officer of Tetra Tech since April 2011. He joined Tetra Tech in April 2003 as Vice President, Management Audit, and held the role of Senior Vice President and Corporate Controller from January 2004 to March 2011. Prior to joining Tetra Tech, Mr. Burdick held senior financial and executive positions with Aura Systems, Inc., TRW Ventures, and Ernst & Young LLP. He is also on the board of Tetra Tech Industries, Inc. and Tetra Tech UK Holdings Ltd.

Dan L. Batrack, Executive Chairman

Mr. Batrack was named Executive Chairman in February 2026, having served as Chief Executive Officer from 2005 to 2026 and Chairman since 2003. He joined Tetra Tech in 1980 and has held numerous roles including arctic research scientist, deep water oceanographic hydrographer, and President of the Engineering Division. During his tenure as Chief Executive Officer, Tetra Tech's annual revenue and employee count more than tripled. He established the firm's strategic direction, focusing on becoming a leading firm in Water Consulting and Engineering, Environmental Management, and Climate Change Response.

Leslie L. Shoemaker, PhD, Executive Vice President, Chief Innovation and Sustainability Officer

Dr. Shoemaker is the Executive Vice President, Chief Innovation and Sustainability Officer for Tetra Tech.

Preston Hopson, Executive Vice President, Chief Legal and Human Capital Officer

Mr. Hopson serves as the Executive Vice President, Chief Legal and Human Capital Officer.

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The key risks to Tetra Tech's business are primarily associated with its significant reliance on government contracts, its financial stability due to escalating operating costs and high debt, and the inherent project execution risks, particularly with an increasing focus on fixed-price contracts.

Reliance on Government Contracts and Shifting Government Spending Priorities: A substantial portion of Tetra Tech's revenue is derived from U.S. federal, state, and local government contracts, which are typically multi-year agreements. Changes in terms, funding, or priorities within these contracts can negatively impact the company's business. For example, the termination of USAID contracts has led to a reduction in backlog and a goodwill impairment charge. Shifts in government spending, influenced by the political landscape or budgetary constraints, pose ongoing challenges for securing and maintaining project opportunities in sectors like environmental services and water management.
Escalating Operating Costs and High Debt Levels: Tetra Tech faces challenges from rising operating costs and expenses, which can threaten its profitability. The company's total cost of sales increased significantly in the first quarter of fiscal 2025 due to rising input costs. Additionally, high debt levels represent a significant financial obligation that can strain profitability. Tetra Tech's long-term debt has shown a substantial increase over the past five years, raising concerns about its financial stability and ability to service this debt, especially with potential changes in interest rates or credit conditions.
Project Execution Risks, Especially with Fixed-Price Contracts: As a provider of consulting and engineering services, Tetra Tech undertakes large-scale and complex projects. The successful execution of these projects is critical, and delays, cost overruns, or failure to meet performance standards can result in financial losses and damage to the company's reputation. The company's increasing shift towards fixed-price contracts, while potentially offering better margins, also introduces greater execution risks. If projects under fixed-price arrangements encounter unforeseen issues or cost escalations, profitability could be negatively impacted.

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Tetra Tech (TTEK) operates within several large addressable markets, offering a range of consulting and engineering services globally.

Addressable Markets for Tetra Tech's Main Products and Services:

Environmental Consulting Services: The global environmental consulting services market was valued at approximately USD 43.20 billion in 2024 and is projected to reach USD 92.85 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 7.95% from 2025 to 2034. North America is anticipated to continue its dominance in this market. Other estimates place the global market at USD 46.50 billion in 2025, expected to grow to USD 65.72 billion by 2031, and over USD 51.8 billion in 2025, poised to exceed USD 100.01 billion by 2035.
Waste Management Market: The global waste management market size was estimated at USD 1.51 trillion in 2025 and is projected to reach around USD 2.69 trillion by 2035, expanding at a CAGR of 5.95% between 2026 and 2035. Another source valued the global market at USD 1,497.17 billion in 2025, projecting it to reach USD 2,365.14 billion by 2033.
Engineering Consulting Services: The global engineering consulting services market size was valued at USD 202.8 billion in 2025 and is projected to reach USD 296.2 billion by the end of 2035, with a CAGR of 4.3% during the forecast period of 2026-2035. Other estimates indicate the market was USD 175.43 billion in 2025, expected to rise to USD 348.79 billion by 2034.
Civil Engineering Market: The global civil engineering market size was estimated at USD 9.7032 trillion in 2024 and is expected to reach approximately USD 17.214 trillion by 2034, growing at a CAGR of 5.9% from 2025 to 2034. Another valuation placed it at USD 10.4 trillion in 2025, projected to reach USD 15.5 trillion by 2034.
Water Management Systems/Smart Water Management Market: The global water management systems market size was valued at USD 15.6 billion in 2023 and is projected to exceed USD 52.9 billion by 2033, growing at a CAGR of 12.99% from 2023 to 2033. More specifically, the global smart water management market size was estimated at USD 18,340.5 million in 2024 and is projected to reach USD 50,740.8 million by 2033.
Energy Consulting Market: The global energy consulting market size was approximately USD 16 billion in 2024 and is projected to reach USD 21 billion by 2030, with an estimated CAGR of 5% during the forecast period of 2025-2030. Another estimate valued the market at USD 18.7 billion in 2025, expected to reach USD 22.94 billion by 2030.
Natural Resource Management Consulting: The global market size for the natural resource management consulting sector was estimated at $6.5 billion in 2023 and is anticipated to reach approximately $12.1 billion by 2032, with a projected CAGR of 7.2%.

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Tetra Tech (TTEK) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market trends.

One significant driver is the company's focus on **expanding its services in water and environmental markets, particularly in response to new regulatory requirements and increasingly complex challenges**. This includes addressing emerging contaminants such as PFAS, as well as engaging in more sophisticated projects related to watershed management, coastal protection, and decarbonization. This aligns with the strong demand seen in the U.S. water infrastructure and environmental sectors, including steady spending on U.S. water systems, power grid upgrades, and the rising need for water cooling in data centers.

Another key growth driver for Tetra Tech is its **growth in international markets**. The company anticipates continued strong performance in regions such as the U.K. and Canada, fueled by significant water investment cycles like the U.K.'s AMP8 and Canada's large infrastructure programs. Additionally, increased high-priority defense spending in the U.K. and Australia is expected to contribute to international revenue growth.

Tetra Tech is also driving revenue growth through **technological innovation, specifically by leveraging proprietary data analytic tools and artificial intelligence (AI)-augmented consulting services**. This strategy aims to increase productivity and enhance margins. Furthermore, the company is focused on generating higher recurring revenue through increased software subscriptions from its proprietary suite of applications.

Finally, **strategic mergers and acquisitions (M&A)** are expected to accelerate Tetra Tech's growth. With a strong balance sheet, the company has the capacity to pursue material acquisitions that align with its strategic priorities, particularly in expanding its front-end consulting business.

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Share Repurchases

As of December 28, 2025, Tetra Tech had $548 million remaining under its approved share repurchase programs.
The company expanded its share repurchase program by an additional $500 million in Q2 2025 (ended March 30, 2025).
Tetra Tech repurchased $50 million of common stock in the first quarter ended December 28, 2025, and another $50 million in the fourth quarter of fiscal 2025 (ended September 28, 2025).

Share Issuance

On February 20, 2026, Tetra Tech's CEO received a grant of 28,174 restricted stock units (RSUs).
A five-for-one stock split was approved by Tetra Tech's Board of Directors on July 29, 2024, becoming effective after the close of trading on September 6, 2024.

Outbound Investments

Tetra Tech completed the acquisition of RPS Group, a global professional services firm, on January 24, 2023, to strengthen its positions in water, renewable energy, and sustainable infrastructure.
Recent acquisitions, including LS Technologies and Convergence Controls & Engineering, have expanded Tetra Tech's capabilities in enterprise technology services, data analytics, and cybersecurity.
The company has highlighted over $2 billion in immediate borrowing capacity for strategic acquisitions, indicating an ongoing focus on acquisitions as a growth strategy.

Capital Expenditures

Tetra Tech's capital expenditures forecast median consensus for the next fiscal year is $20 million, and it is expected to average $18.5 million over the next five fiscal years.
For the three months ended December 2025, Tetra Tech spent $4 million on purchasing property, plant, and equipment.
Over the past decade (up to March 2025), the company incurred USD 74 million on capital expenditures.

Interactive Breakdown

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GE (18.6%)

GE Aerospace

CAT (17.4%)

Caterpillar

GEV (13.1%)

GE Vernova

RTX (11.9%)

RTX

Higher FCF/Rev LTM (Value for TTEK: 9.5%)

UBER (18.8%)

Uber Technologies

GE (15.8%)

GE Aerospace

HON (14.5%)

Honeywell International

CAT (11.0%)

Caterpillar

GEV (9.7%)

GE Vernova

Higher Total Yield (Value for TTEK: 5.3%)

UNP (7.5%)

Union Pacific

FDX (6.7%)

FedEx

UBER (6.6%)

Uber Technologies

GD (6.2%)

General Dynamics

HON (5.5%)

Honeywell International

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TTEK: 15.1% | 1.5x)

PGR (21.0% | 1.4x)

Progressive

CI (15.3% | 0.3x)

Cigna

MFC (33.3% | 1.1x)

Manulife Financial

LYV (15.7% | 1.4x)

Live Nation Entertainment

SLF (322.2% | 0.9x)

Sun Life Financial

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TTEK: 15.1% | 13.2x)

NEM (26.2% | 9.5x)

Newmont

APO (66.8% | 8.1x)

Apollo Global Management

B (16.0% | 7.7x)

Barrick Mining

OKE (18.9% | 9.7x)

ONEOK

FANG (18.3% | 11.2x)

Diamondback Energy

Higher Rev Chg LTM (Value for TTEK: -2.9%)

NVDA (65.5%)

NVIDIA

MSFT (16.7%)

Microsoft

GOOGL (15.1%)

Alphabet

AMZN (12.4%)

Amazon.com

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for TTEK: 15.1%)

NVDA (101.8%)

NVIDIA

LLY (32.1%)

Eli Lilly

BRK-B (27.0%)

Berkshire Hathaway

AVGO (26.2%)

Broadcom

META (19.9%)

Meta Platforms

Higher Op Mgn LTM (Value for TTEK: 11.5%)

NVDA (60.4%)

NVIDIA

MSFT (46.7%)

Microsoft

META (41.4%)

Meta Platforms

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

Higher CFO/Rev LTM (Value for TTEK: 9.9%)

MSFT (52.5%)

Microsoft

NVDA (47.6%)

NVIDIA

GOOGL (40.9%)

Alphabet

AAPL (31.1%)

Apple

AMZN (19.5%)

Amazon.com

Higher FCF/Rev LTM (Value for TTEK: 9.5%)

NVDA (44.8%)

NVIDIA

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

META (22.9%)

Meta Platforms

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for TTEK: 5.3%)

JPM (7.3%)

JPMorgan Chase

JNJ (6.9%)

Johnson & Johnson

XOM (6.8%)

Exxon Mobil

BRK-B (6.5%)

Berkshire Hathaway

CVX (6.2%)

Chevron

Best Bets in Industrials

What You Pay

P/EBIT (Value for TTEK: 14.6x)

GATX (8.7x)

GATX

PAYX (14.4x)

Paychex

AGX (54.7x)

Argan

TDG (16.1x)

TransDigm

PCTY (18.0x)

Paylocity

WOR (16.2x)

Worthington Enterprises

STRL (28.8x)

Sterling Infrastructure

PAYC (11.0x)

Paycom Software

CSW (24.7x)

CSW Industrials

POWL (27.8x)

Powell Industries

P/E (Value for TTEK: 22.5x)

GATX (17.5x)

GATX

PAYX (20.8x)

Paychex

AGX (54.6x)

Argan

TDG (33.8x)

TransDigm

PCTY (25.5x)

Paylocity

WOR (22.1x)

Worthington Enterprises

STRL (42.5x)

Sterling Infrastructure

PAYC (15.1x)

Paycom Software

CSW (33.8x)

CSW Industrials

POWL (33.3x)

Powell Industries

What You Get

Rev Chg 3Y Avg (Value for TTEK: 15.1%)

GATX (11.0%)

GATX

PAYX (7.9%)

Paychex

AGX (26.9%)

Argan

TDG (17.5%)

TransDigm

PCTY (19.0%)

Paylocity

WOR (-6.3%)

Worthington Enterprises

STRL (12.1%)

Sterling Infrastructure

PAYC (14.4%)

Paycom Software

CSW (11.0%)

CSW Industrials

POWL (27.3%)

Powell Industries

Rev Chg LTM (Value for TTEK: -2.9%)

GATX (9.8%)

GATX

PAYX (12.4%)

Paychex

AGX (13.5%)

Argan

TDG (11.7%)

TransDigm

PCTY (12.1%)

Paylocity

WOR (7.4%)

Worthington Enterprises

STRL (17.7%)

Sterling Infrastructure

PAYC (8.9%)

Paycom Software

CSW (16.9%)

CSW Industrials

POWL (5.1%)

Powell Industries

Rev Chg Q (Value for TTEK: -14.8%)

GATX (8.6%)

GATX

PAYX (18.3%)

Paychex

AGX (-2.3%)

Argan

TDG (13.9%)

TransDigm

PCTY (10.4%)

Paylocity

WOR (19.5%)

Worthington Enterprises

STRL (51.5%)

Sterling Infrastructure

PAYC (10.2%)

Paycom Software

CSW (20.3%)

CSW Industrials

POWL (4.0%)

Powell Industries

FCF/Rev 3Y Avg (Value for TTEK: 7.5%)

GATX (37.4%)

GATX

PAYX (32.6%)

Paychex

AGX (24.5%)

Argan

TDG (22.1%)

TransDigm

PCTY (21.7%)

Paylocity

WOR (20.9%)

Worthington Enterprises

STRL (18.4%)

Sterling Infrastructure

PAYC (18.2%)

Paycom Software

CSW (18.0%)

CSW Industrials

POWL (17.7%)

Powell Industries

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Tetra Tech Earnings Notes	12/27/2025
2	How Low Can Tetra Tech Stock Really Go?	10/17/2025
3	Tetra Tech vs General Dynamics: Which Is A Better Investment?	08/18/2025
4	Tetra Tech vs Great Lakes Dredge & Dock: Which Is A Better Investment?	08/18/2025
5	How Does Tetra Tech Stock Stack Up Against Its Peers?	08/13/2025
6	Better Bet Than TTEK Stock: Pay Less Than Tetra Tech To Get More From CCL, FSLR	08/12/2025
7	Better Bet Than TTEK Stock: Pay Less Than Tetra Tech To Get More From POWL, PRIM	08/12/2025
8	Better Bet Than TTEK Stock: Pay Less Than Tetra Tech To Get More From PRIM	08/12/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to TTEK.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
EFX_2272026_Monopoly_xInd_xCD_Getting_Cheaper	02272026	EFX	Equifax	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	0.0%
LZ_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02202026	LZ	LegalZoom.com	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	7.2%	7.2%	-5.0%
ADP_2132026_Dip_Buyer_ValueBuy	02132026	ADP	Automatic Data Processing	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	1.1%	1.1%	-3.0%
TREX_2132026_Dip_Buyer_ValueBuy	02132026	TREX	Trex	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-3.2%	-3.2%	-5.9%
PCTY_2132026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02132026	PCTY	Paylocity	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-0.6%	-0.6%	-4.8%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PL	Planet Labs PBC	10.5	25.5%	71.6%
GTN-A	Gray Media	1.3	24.4%	8.6%
LBTYB	Liberty Global	4.8	16.7%	19.9%
SEDG	SolarEdge Technologies	3.1	13.3%	79.3%
FMCC	Federal Home Loan Mortgage	15.8	10.7%	-51.9%
VG	Venture Global	38.5	10.6%	132.1%
URG	Ur-Energy	0.5	9.8%	4.3%
SCHL	Scholastic	0.9	8.8%	26.4%
FNMA	Federal National Mortgage Association Fannie Mae	31.1	8.6%	-50.6%
SM	SM Energy	3.4	8.3%	62.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BCPC	Balchem	0.8	-85.7%	-84.7%
SMCI	Super Micro Computer	12.3	-33.3%	-29.9%
VNDA	Vanda Pharmaceuticals	0.4	-16.9%	-19.3%
TE	T1 Energy	1.1	-14.4%	-1.2%
AAOI	Applied Optoelectronics	5.5	-14.1%	151.1%
VICR	Vicor	7.4	-13.5%	50.1%
VST	Vistra	49.5	-12.8%	-9.4%
RCAT	Red Cat	1.3	-12.5%	67.1%
AEBI	Aebi Schmidt	0.8	-12.3%	-21.5%
FLOC	Flowco	0.6	-11.3%	16.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
RHLD	Resolute Management	1.4	44.9%	-22.0%
BW	Babcock & Wilcox Enterprises	1.6	44.4%	139.4%
SEDG	SolarEdge Technologies	3.1	38.2%	79.3%
PL	Planet Labs PBC	10.5	36.5%	71.6%
DSGR	Distribution Solutions	1.2	35.0%	-4.9%
NEXT	NextDecade	1.9	27.0%	39.1%
HTFL	HeartFlow	1.3	27.0%	-10.7%
GLNG	Golar LNG	5.4	22.7%	42.3%
ANDG	Andersen	3.0	22.2%	7.6%
KOS	Kosmos Energy	1.4	21.9%	213.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
BCPC	Balchem	0.8	-86.1%	-84.7%
SMCI	Super Micro Computer	12.3	-33.2%	-29.9%
MVST	Microvast	0.5	-28.3%	-42.9%
USAS	Americas Gold And Silver	1.5	-26.9%	5.3%
AEBI	Aebi Schmidt	0.8	-25.8%	-21.5%
NG	Novagold Resources	3.2	-25.6%	-16.8%
IDR	Idaho Strategic Resources	0.4	-23.6%	-33.7%
IAUX	i-80 Gold	1.0	-23.5%	-13.0%
SCZM	Santacruz Silver Mining	0.6	-23.5%	-42.2%
ELE	Elemental Royalty	0.4	-23.5%	0.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
AXTI	AXT	2.4	127.8%	231.7%
CRCL	Circle Internet	29.0	103.5%	58.9%
LWLG	Lightwave Logic	0.9	96.8%	109.0%
AAOI	Applied Optoelectronics	5.5	86.3%	151.1%
SOC	Sable Offshore	1.6	82.3%	80.5%
DAWN	Day One Biopharmaceuticals	2.2	77.6%	130.0%
AMPX	Amprius Technologies	2.3	75.8%	130.7%
ACLX	Arcellx	6.5	72.5%	76.0%
BW	Babcock & Wilcox Enterprises	1.6	62.5%	139.4%
KOS	Kosmos Energy	1.4	60.5%	213.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
BCPC	Balchem	0.8	-86.6%	-84.7%
MNKD	MannKind	0.8	-55.3%	-56.4%
EOSE	Eos Energy Enterprises	1.4	-54.7%	-54.7%
GRAL	GRAIL	1.7	-53.9%	-45.3%
CWH	Camping World	0.4	-48.9%	-37.0%
VITL	Vital Farms	0.6	-47.3%	-54.6%
FWRD	Forward Air	0.5	-44.3%	-38.1%
GO	Grocery Outlet	0.6	-43.2%	-42.7%
FULC	Fulcrum Therapeutics	0.4	-42.3%	-40.1%
ERII	Energy Recovery	0.5	-41.1%	-29.9%

Peer Comparisons

Peers to compare with:

Financials

	TTEK	LDOS	J	BAH	KBR	MGN	Median
Name	Tetra Te.	Leidos	Jacobs S.	Booz All.	KBR	Megan
Mkt Price	30.40	165.87	128.44	79.95	37.29	4.70	58.62
Mkt Cap	7.9	20.7	15.2	9.7	4.7	-	9.7
Rev LTM	5,233	17,174	12,390	11,409	7,823	-	11,409
Op Inc LTM	600	2,100	888	1,045	561	-	888
FCF LTM	498	1,625	875	933	515	-	875
FCF 3Y Avg	390	1,297	824	685	380	-	685
CFO LTM	517	1,750	960	1,020	557	-	960
CFO 3Y Avg	411	1,457	932	769	436	-	769

Growth & Margins

	TTEK	LDOS	J	BAH	KBR	MGN	Median
Name	Tetra Te.	Leidos	Jacobs S.	Booz All.	KBR	Megan
Rev Chg LTM	-2.9%	3.1%	6.6%	-3.1%	1.5%	-	1.5%
Rev Chg 3Y Avg	15.1%	6.1%	7.0%	8.3%	6.1%	-	7.0%
Rev Chg Q	-14.8%	-3.6%	12.3%	-10.2%	-10.6%	-	-10.2%
QoQ Delta Rev Chg LTM	-3.9%	-0.9%	3.0%	-2.5%	-2.8%	-	-2.5%
Op Mgn LTM	11.5%	12.2%	7.2%	9.2%	7.2%	-	9.2%
Op Mgn 3Y Avg	10.1%	10.5%	6.5%	9.2%	7.1%	-	9.2%
QoQ Delta Op Mgn LTM	0.4%	0.5%	-0.0%	-0.3%	0.4%	-	0.4%
CFO/Rev LTM	9.9%	10.2%	7.7%	8.9%	7.1%	-	8.9%
CFO/Rev 3Y Avg	8.0%	8.8%	8.4%	6.8%	5.8%	-	8.0%
FCF/Rev LTM	9.5%	9.5%	7.1%	8.2%	6.6%	-	8.2%
FCF/Rev 3Y Avg	7.5%	7.8%	7.4%	6.0%	5.0%	-	7.4%

Valuation

	TTEK	LDOS	J	BAH	KBR	MGN	Median
Name	Tetra Te.	Leidos	Jacobs S.	Booz All.	KBR	Megan
Mkt Cap	7.9	20.7	15.2	9.7	4.7	-	9.7
P/S	1.5	1.2	1.2	0.8	0.6	-	1.2
P/EBIT	14.6	9.8	18.1	8.9	6.1	-	9.8
P/E	22.5	14.3	35.2	11.5	11.3	-	14.3
P/CFO	15.3	11.8	15.9	9.5	8.4	-	11.8
Total Yield	5.3%	8.0%	3.3%	8.7%	10.6%	-	8.0%
Dividend Yield	0.8%	1.0%	0.5%	0.0%	1.8%	-	0.8%
FCF Yield 3Y Avg	4.2%	6.9%	5.1%	5.3%	6.1%	-	5.3%
D/E	0.1	0.3	0.2	0.4	0.6	-	0.3
Net D/E	0.1	0.2	0.1	0.3	0.5	-	0.2

Returns

	TTEK	LDOS	J	BAH	KBR	MGN	Median
Name	Tetra Te.	Leidos	Jacobs S.	Booz All.	KBR	Megan
1M Rtn	-17.7%	-3.1%	-9.2%	2.1%	-11.1%	129.3%	-6.1%
3M Rtn	-11.6%	-10.0%	-4.0%	-5.5%	-7.1%	147.4%	-6.3%
6M Rtn	-15.4%	-11.1%	-13.5%	-20.6%	-22.9%	315.9%	-14.4%
12M Rtn	4.6%	24.2%	7.5%	-20.9%	-24.4%	315.9%	6.1%
3Y Rtn	8.5%	85.4%	39.5%	-7.6%	-26.5%	315.9%	24.0%
1M Excs Rtn	-13.0%	-0.5%	-2.6%	5.2%	-7.8%	135.6%	-1.6%
3M Excs Rtn	-8.6%	-5.1%	0.5%	-3.7%	-9.5%	171.8%	-4.4%
6M Excs Rtn	-14.6%	-9.1%	-11.8%	-18.0%	-21.9%	317.8%	-13.2%
12M Excs Rtn	-13.8%	6.2%	-9.2%	-41.9%	-40.9%	301.3%	-11.5%
3Y Excs Rtn	-56.3%	18.9%	-28.3%	-73.6%	-93.2%	248.8%	-42.3%

Comparison Analyses

	Title
0	How Does Tetra Tech Stock Stack Up Against Its Peers?
1	Why TTEK With 32% Upside May Beat LDOS?
2	Why TTEK With 32% Upside May Beat BAH?
3	TTEK Looks Stronger Than ACM With 32% Return Potential
4	Tetra Tech vs. Jacobs Engineering Group: Industry Competitors, But Jacobs Engineering Group Is A Better Bet
5	Tetra Tech vs. Fortinet: Similar Revenue, But Fortinet Is A Better Bet
6	Tetra Tech vs. Marvell Technology Group: Similar Revenue, But Marvell Technology Group Is A Better Bet
7	Tetra Tech vs. The Trade Desk: Similar Income, But The Trade Desk Is A Better Bet
8	Tetra Tech vs. ServiceNow: Similar Income, But ServiceNow Is A Better Bet
9	Tetra Tech vs. NRG Energy: Similar Market Cap, But NRG Energy Is A Better Bet

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 9/28	LTM	2025	2024	2023	2022	2021	2020
Period End	12/28/2025	9/28/2025	9/29/2024	10/1/2023	10/2/2022	10/3/2021	9/27/2020
Filing Date	1/30/2026	11/20/2025	11/19/2024	11/22/2023	11/25/2022	11/24/2021	11/23/2020
Key Financials
Total Revenue	5,233	5,443	5,199	4,523	3,504	3,214	2,995
EBITDA	601	477	582	515	389	303	267
Operating Income	600	604	510	420	341	275	242
Net Income	352	248	333	273	263	233	174
EPS	1.34	0.94	1.25	1.03	0.98	0.86	0.64
Growth Rates
Total Revenue Growth	-2.9%	4.7%	15.0%	29.1%	9.0%	7.3%	-3.6%
EBITDA Growth	22.6%	-18.1%	13.0%	32.2%	28.3%	13.6%	21.8%
Operating Income Growth	11.8%	18.3%	21.6%	23.2%	23.7%	13.9%	16.3%
Net Income Growth	35.8%	-25.7%	21.9%	3.9%	13.0%	33.9%	9.6%
Margins
EBITDA Margin	11.5%	8.8%	11.2%	11.4%	11.1%	9.4%	8.9%
Operating Income Margin	11.5%	11.1%	9.8%	9.3%	9.7%	8.6%	8.1%
Net Income Margin	6.7%	4.6%	6.4%	6.0%	7.5%	7.2%	5.8%
Cash & Debt
Total Cash	269	167	233	169	185	167	158
Total Debt	1,058	987	1,016	1,089	463	454	553
Net Debt / (Cash)	789	820	783	920	278	288	396
Cash Flows
Net Cash from Operations	517	458	359	368	336	304	262
Free Cash from Operations	498	439	341	342	326	296	250
Returns to Shareholders
Dividends	66	65	59	52	46	40	35
Share Repurchases	275	250	-0	-0	200	60	117

$ Mil \| FY: 9/28	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	12/28/2025	9/28/2025	6/29/2025	3/30/2025	12/29/2024	9/29/2024	6/30/2024	3/31/2024	12/31/2023	10/1/2023	7/2/2023	4/2/2023
Filing Date	1/30/2026	11/20/2025	8/1/2025	5/8/2025	1/31/2025	11/19/2024	8/2/2024	5/3/2024	2/2/2024	11/22/2023	8/10/2023	5/11/2023
Key Financials Quarterly
Total Revenue	1,211	1,330	1,370	1,322	1,421	1,374	1,344	1,252	1,228	1,261	1,209	1,158
Ebitda	163	206	179	53	39	168	148	135	131	131	117	99
Operating Income	134	171	165	130	137	153	129	118	111	135	100	88
Net Income	105	128	114	5	1	96	86	76	75	54	60	43
EPS	0.40	0.49	0.43	0.02	0.00	0.36	0.32	0.29	0.28	0.20	0.23	0.16
Key Financials TTM
Total Revenue TTM	5,233	5,443	5,487	5,461	5,391	5,199	5,085	4,949	4,856	4,523	4,165	3,846
Ebitda TTM	601	477	438	408	490	582	545	515	479	515	507	481
Operating Income TTM	600	604	585	549	537	510	493	463	434	420	380	364
Net Income TTM	352	248	216	188	259	333	291	265	232	273	303	301
Growth Rates Quarterly
Total Revenue Growth	-14.8%	-3.2%	1.9%	5.6%	15.7%	9.0%	11.2%	8.1%	37.3%	39.7%	35.8%	35.8%
EBITDA Growth	321.6%	22.8%	20.6%	-60.5%	-70.4%	27.7%	26.2%	36.3%	-21.7%	5.9%	29.3%	22.5%
Operating Income Growth	-2.6%	12.4%	27.7%	10.5%	23.5%	13.1%	29.4%	33.0%	14.8%	41.7%	19.3%	18.5%
Net Income Growth	13960.0%	32.9%	32.7%	-93.0%	-99.0%	79.2%	42.5%	78.5%	-35.8%	-35.3%	2.7%	-19.2%
Margins Quarterly
EBITDA Margin	13.4%	15.5%	13.0%	4.0%	2.7%	12.2%	11.0%	10.8%	10.6%	10.4%	9.7%	8.6%
Operating Income Margin	11.0%	12.9%	12.0%	9.8%	9.7%	11.1%	9.6%	9.4%	9.0%	10.7%	8.3%	7.6%
Net Income Margin	8.7%	9.6%	8.3%	0.4%	0.1%	7.0%	6.4%	6.1%	6.1%	4.3%	5.0%	3.7%
Cash & Debt
Total Cash	269	167	243	179	248	233	212	210	199	169	176	231
Total Debt	1,058	987	1,072	1,223	1,084	1,016	1,057	1,161	1,153	1,089	1,152	1,305
Net Debt / (Cash)	789	820	829	1,044	836	783	844	951	954	920	976	1,073
Cash Flows Quarterly
FCF from Operations	72	101	350	-6	13	106	141	103	9	122	133	88
Cash Flows TTM
FCF from Operations TTM	517	458	462	254	363	359	376	368	353	368	306	272
Returns to Shareholders Quarterly
Dividends	17	17	17	15	16	16	16	14	14	14	14	12
Share Repurchases	50	50	25	150	25	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	50.3%	61.3%	57.8%	8.7%	3.3%	55.3%	44.2%	35.1%	34.4%	33.3%	29.8%	20.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	53.2%	48.4%	45.1%	32.9%	44.1%	46.9%	40.2%	33.5%	30.3%	31.1%	28.2%	24.5%

Segment Financials

Assets by Segment

$ Mil	2025	2024	2023	2022	2021
Corporate	2,474	2,283	1,375	1,321	1,236
Commercial/International Group (CIG)	1,060	994	689	699	479
Government Services Group (GSG)	658	543	559	546	649
Remediation and Construction Management (RCM)				11	14
Total	4,193	3,820	2,623	2,577	2,379

Price Behavior

Price Behavior

Market Price	$30.40
Market Cap ($ Bil)	7.9
First Trading Date	12/17/1991
Distance from 52W High	-28.7%
	50 Days	200 Days
DMA Price	$36.07	$35.27
DMA Trend	indeterminate	up
Distance from DMA	-15.7%	-13.8%
	3M	1YR
Volatility	46.3%	36.9%
Downside Capture	124.45	68.95
Upside Capture	83.23	62.81
Correlation (SPY)	33.8%	28.6%

TTEK Betas & Captures as of 2/28/2026

	1M	2M	3M	6M	1Y	3Y
Beta	1.54	1.66	1.35	0.30	0.53	0.62
Up Beta	0.33	0.82	0.78	0.41	0.59	0.68
Down Beta	5.29	3.53	2.75	0.12	0.37	0.43
Up Capture	71%	133%	99%	29%	54%	36%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	13	24	32	59	121	385
Down Capture	103%	83%	80%	48%	66%	88%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	8	17	29	64	127	362

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TTEK
TTEK	0.9%	37.1%	0.09	-
Sector ETF (XLI)	22.3%	19.1%	0.93	37.0%
Equity (SPY)	15.8%	18.9%	0.64	28.8%
Gold (GLD)	48.2%	27.0%	1.45	13.0%
Commodities (DBC)	17.8%	17.4%	0.83	23.8%
Real Estate (VNQ)	1.0%	16.4%	-0.11	27.1%
Bitcoin (BTCUSD)	-19.0%	44.2%	-0.35	27.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TTEK
TTEK	3.0%	32.1%	0.15	-
Sector ETF (XLI)	12.3%	17.1%	0.56	49.7%
Equity (SPY)	11.8%	17.0%	0.54	47.8%
Gold (GLD)	20.7%	17.5%	0.97	12.9%
Commodities (DBC)	10.9%	19.0%	0.46	12.6%
Real Estate (VNQ)	2.8%	18.8%	0.06	44.7%
Bitcoin (BTCUSD)	4.7%	56.7%	0.30	23.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with TTEK
TTEK	19.0%	31.9%	0.62	-
Sector ETF (XLI)	13.5%	19.8%	0.60	59.1%
Equity (SPY)	14.2%	17.9%	0.68	58.1%
Gold (GLD)	13.3%	15.7%	0.70	6.7%
Commodities (DBC)	8.3%	17.6%	0.39	21.0%
Real Estate (VNQ)	5.0%	20.7%	0.21	50.1%
Bitcoin (BTCUSD)	66.9%	66.8%	1.06	16.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	2272026
Short Interest: Shares Quantity	10.6 Mil
Short Interest: % Change Since 2152026	17.4%
Average Daily Volume	3.1 Mil
Days-to-Cover Short Interest	3.5 days
Basic Shares Quantity	260.8 Mil
Short % of Basic Shares	4.1%

Returns Analyses

	Title
0	How Low Can Tetra Tech Stock Really Go?
1	Tetra Tech Stock Return Comparison
2	Tetra Tech (TTEK) Stock Return: AI Predicts TTEK Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
1/28/2026	3.0%	9.8%	-3.2%
11/12/2025	15.3%	8.9%	6.3%
7/30/2025	-1.1%	0.3%	-0.4%
5/7/2025	13.0%	12.5%	15.5%
1/30/2025	0.6%	-7.6%	-22.6%
11/13/2024	-13.5%	-15.1%	-11.1%
7/31/2024	9.0%	7.2%	10.8%
5/1/2024	6.1%	10.1%	9.0%
...
SUMMARY STATS
# Positive	14	14	13
# Negative	10	10	11
Median Positive	3.7%	7.7%	9.0%
Median Negative	-1.4%	-6.3%	-10.6%
Max Positive	15.7%	13.0%	15.5%
Max Negative	-13.5%	-15.1%	-22.6%

	Forward Returns
1/28/2026	3.0%	9.8%	-3.2%
11/12/2025	15.3%	8.9%	6.3%
7/30/2025	-1.1%	0.3%	-0.4%
5/7/2025	13.0%	12.5%	15.5%
1/30/2025	0.6%	-7.6%	-22.6%
11/13/2024	-13.5%	-15.1%	-11.1%
7/31/2024	9.0%	7.2%	10.8%
5/1/2024	6.1%	10.1%	9.0%
1/31/2024	3.9%	10.2%	11.8%
11/15/2023	3.5%	4.0%	4.8%
8/9/2023	-0.9%	-0.3%	-6.7%
5/10/2023	1.9%	-1.6%	9.0%
2/1/2023	-0.4%	-5.0%	-10.6%
11/9/2022	15.7%	13.0%	9.3%
8/3/2022	-1.5%	-3.8%	-11.6%
5/4/2022	-6.2%	-12.9%	-2.2%
2/2/2022	4.3%	8.1%	13.7%
11/17/2021	2.3%	3.5%	-11.5%
7/28/2021	-0.7%	1.8%	6.0%
4/28/2021	-5.4%	-7.7%	-10.8%
1/27/2021	-1.4%	-1.2%	7.4%
11/12/2020	2.7%	6.0%	1.1%
7/29/2020	1.9%	3.9%	5.9%
4/29/2020	-8.7%	-15.1%	-4.1%
SUMMARY STATS
# Positive	14	14	13
# Negative	10	10	11
Median Positive	3.7%	7.7%	9.0%
Median Negative	-1.4%	-6.3%	-10.6%
Max Positive	15.7%	13.0%	15.5%
Max Negative	-13.5%	-15.1%	-22.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	01/30/2026	10-Q
09/30/2025	11/20/2025	10-K
06/30/2025	08/01/2025	10-Q
03/31/2025	05/08/2025	10-Q
12/31/2024	01/31/2025	10-Q
09/30/2024	11/19/2024	10-K
06/30/2024	08/02/2024	10-Q
03/31/2024	05/03/2024	10-Q
12/31/2023	02/02/2024	10-Q
09/30/2023	11/22/2023	10-K
06/30/2023	08/10/2023	10-Q
03/31/2023	05/11/2023	10-Q
12/31/2022	02/03/2023	10-Q
09/30/2022	11/25/2022	10-K
06/30/2022	08/05/2022	10-Q
03/31/2022	05/06/2022	10-Q

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Birkenbeuel, Gary		Direct	Sell	8152025	36.00	2,390	86,050	1,358,258	Form
2	Carter, Brian N	SVP, Corporate Controller	Direct	Sell	2062026	40.23	9,979	401,405	1,870,302	Form

TTEK Trade Sentinel

Stock Conviction

null

CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing TTEK?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What TTEK Makes & Who Pays

TTM figures based on

TTEK Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Tetra Tech (TTEK)

Market Price (3/21/2026): $30.43 | Market Cap: $7.9 BilSector: Industrials | Industry: Construction & Engineering

Tetra Tech (TTEK)

Market Price (3/21/2026): $30.43Market Cap: $7.9 BilSector: IndustrialsIndustry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Tetra Tech (TTEK)

Major Customers:

Government Agencies:

Commercial Entities:

Addressable Markets for Tetra Tech's Main Products and Services:

Interactive Breakdown

Better Bets vs. Tetra Tech (TTEK)

INDUSTRY: Construction & Engineering

Higher Rev Chg 3Y Avg | Lower P/S (Values for TTEK: 15.1% | 1.5x)

Higher Rev Chg LTM (Value for TTEK: -2.9%)

Higher Rev Chg 3Y Avg (Value for TTEK: 15.1%)

Higher Op Mgn LTM (Value for TTEK: 11.5%)

Higher CFO/Rev LTM (Value for TTEK: 9.9%)

Higher FCF/Rev LTM (Value for TTEK: 9.5%)

Higher Total Yield (Value for TTEK: 5.3%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for TTEK: 15.1% | 1.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TTEK: 15.1% | 13.2x)

Higher Rev Chg LTM (Value for TTEK: -2.9%)

Higher Rev Chg 3Y Avg (Value for TTEK: 15.1%)

Higher Op Mgn LTM (Value for TTEK: 11.5%)

Higher CFO/Rev LTM (Value for TTEK: 9.9%)

Higher FCF/Rev LTM (Value for TTEK: 9.5%)

Higher Total Yield (Value for TTEK: 5.3%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for TTEK: 15.1% | 1.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for TTEK: 15.1% | 13.2x)

Higher Rev Chg LTM (Value for TTEK: -2.9%)

Higher Rev Chg 3Y Avg (Value for TTEK: 15.1%)

Higher Op Mgn LTM (Value for TTEK: 11.5%)

Higher CFO/Rev LTM (Value for TTEK: 9.9%)

Higher FCF/Rev LTM (Value for TTEK: 9.5%)

Higher Total Yield (Value for TTEK: 5.3%)

Best Bets in Industrials

P/EBIT (Value for TTEK: 14.6x)

P/E (Value for TTEK: 22.5x)

Rev Chg 3Y Avg (Value for TTEK: 15.1%)

Rev Chg LTM (Value for TTEK: -2.9%)

Rev Chg Q (Value for TTEK: -14.8%)

FCF/Rev 3Y Avg (Value for TTEK: 7.5%)

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Market Price (3/21/2026): $30.43 | Market Cap: $7.9 Bil
Sector: Industrials | Industry: Construction & Engineering

Market Price (3/21/2026): $30.43
Market Cap: $7.9 Bil
Sector: Industrials
Industry: Construction & Engineering