Financials Tetra Tech, Inc.

Equities

TTEK

US88162G1031

Environmental Services & Equipment

Delayed Nasdaq Other stock markets 03:51:41 2024-05-06 pm EDT			5-day change	1st Jan Change
211.3 ^USD	+1.69%		+9.35%	+26.56%

May. 02	Transcript : Tetra Tech, Inc., Q2 2024 Earnings Call, May 02, 2024
May. 01	Tetra Tech Fiscal Q2 Earnings, Revenue Rise; Ups 2024 Outlook	MT

Valuation

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	4,570	5,236	8,211	6,853	8,095	11,114	-	-
Enterprise Value (EV) ¹	4,726	5,370	8,257	6,927	8,806	11,790	11,679	11,114
P/E ratio	29.4 x	30.7 x	35.6 x	26.4 x	29.8 x	33.4 x	29.1 x	29.2 x
Yield	0.65%	0.68%	0.49%	0.67%	-	0.53%	0.57%	0.56%
Capitalization / Revenue	1.9 x	2.23 x	3.22 x	2.42 x	2.16 x	2.6 x	2.4 x	2.36 x
EV / Revenue	1.96 x	2.29 x	3.24 x	2.44 x	2.35 x	2.75 x	2.52 x	2.36 x
EV / EBITDA	17.5 x	20.1 x	27.6 x	19.2 x	18.3 x	20.6 x	18.7 x	18.2 x
EV / FCF	24.6 x	21.5 x	27.9 x	21.3 x	25.8 x	36.5 x	28.4 x	29.1 x
FCF Yield	4.07%	4.66%	3.58%	4.7%	3.88%	2.74%	3.53%	3.44%
Price to Book	4.61 x	5.04 x	6.64 x	5.76 x	5.77 x	6.64 x	6.16 x	-
Nbr of stocks (in thousands)	54,649	53,888	54,071	53,319	53,246	53,497	-	-
Reference price ²	83.63	97.16	151.9	128.5	152.0	207.8	207.8	207.8
Announcement Date	11/13/19	11/11/20	11/17/21	11/9/22	11/15/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,406	2,349	2,552	2,836	3,751	4,283	4,631	4,714
EBITDA ¹	269.4	267.8	299.2	361	481.1	571.9	625.6	612.1
EBIT ¹	240.5	243.2	278.7	340.4	358.1	497.4	562.6	543.3
Operating Margin	10%	10.36%	10.92%	12.01%	9.55%	11.61%	12.15%	11.52%
Earnings before Tax (EBT) ¹	175.1	228	266.9	348.8	401	454.9	511.1	522.8
Net income ¹	158.7	173.9	232.8	263.1	273.4	332.9	381.7	381.6
Net margin	6.59%	7.4%	9.12%	9.28%	7.29%	7.77%	8.24%	8.09%
EPS ²	2.840	3.160	4.260	4.860	5.100	6.220	7.136	7.120
Free Cash Flow ¹	192.3	250.2	295.8	325.6	341.6	322.7	411.9	382.3
FCF margin	7.99%	10.65%	11.59%	11.48%	9.11%	7.53%	8.89%	8.11%
FCF Conversion (EBITDA)	71.39%	93.44%	98.86%	90.21%	71%	56.43%	65.84%	62.46%
FCF Conversion (Net income)	121.21%	143.93%	127.06%	123.75%	124.92%	96.94%	107.91%	100.18%
Dividend per Share ²	0.5400	0.6600	0.7400	0.8600	-	1.100	1.175	1.160
Announcement Date	11/13/19	11/11/20	11/17/21	11/9/22	11/15/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Octubre	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3
Net sales ¹	679.3	699.6	720.5	736.1	736.6	969.6	987.6	1,057	1,015	1,252	1,080	1,137	1,076	1,114	1,155
EBITDA ¹	88.87	81.07	89.74	101.3	103.4	105.4	119.5	152.9	131	135.4	141.9	164	145.1	147.2	155.3
EBIT ¹	87.22	75	83.9	94.8	92.05	88.5	99.78	107.4	111.1	117.7	122.9	145.7	128	130.3	138.7
Operating Margin	12.84%	10.72%	11.65%	12.88%	12.5%	9.13%	10.1%	10.15%	10.94%	9.4%	11.38%	12.81%	11.9%	11.69%	12.01%
Earnings before Tax (EBT) ¹	84.32	71.38	80.99	112.1	154.7	69.1	82.81	94.4	101.5	107.8	112.1	135.5	115.8	116.8	129
Net income ¹	68.49	53.04	58.65	82.95	116.7	42.83	60.24	53.65	74.97	76.45	82.5	99.62	84.79	85.58	94.53
Net margin	10.08%	7.58%	8.14%	11.27%	15.84%	4.42%	6.1%	5.07%	7.38%	6.11%	7.64%	8.76%	7.88%	7.68%	8.18%
EPS ²	1.250	0.9800	1.090	1.550	2.180	0.8000	1.120	1.000	1.400	1.420	1.556	1.850	1.613	1.613	1.763
Dividend per Share ²	0.2000	0.2000	0.2300	0.2300	0.2300	0.2300	0.2600	-	-	-	0.2900	0.2900	0.2900	0.2900	0.3250
Announcement Date	2/2/22	5/4/22	8/3/22	11/9/22	2/1/23	5/10/23	8/9/23	11/15/23	1/31/24	5/1/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: Octubre	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	156	134	45.9	73.7	711	676	565	-
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.5783 x	0.5009 x	0.1535 x	0.2041 x	1.477 x	1.182 x	0.903 x	-
Free Cash Flow ¹	192	250	296	326	342	323	412	382
ROE (net income / shareholders' equity)	16.2%	17.2%	18.2%	21.8%	23.1%	21.2%	20.5%	17.7%
ROA (Net income/ Total Assets)	7.73%	7.68%	8.36%	-	-	-	-	-
Assets ¹	2,053	2,263	2,784	-	-	-	-	-
Book Value Per Share ²	18.10	19.30	22.90	22.30	26.40	31.30	33.80	-
Cash Flow per Share	3.730	4.770	5.570	6.210	-	-	-	-
Capex ¹	16.2	12.2	8.57	10.6	26.9	20.5	26.6	35.7
Capex / Sales	0.67%	0.52%	0.34%	0.37%	0.72%	0.48%	0.57%	0.76%
Announcement Date	11/13/19	11/11/20	11/17/21	11/9/22	11/15/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Tetra Tech, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

207.8 USD

Average target price

216.8 USD

Spread / Average Target

+4.37%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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