Tetra Tech Inc (TTEK) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tetra Tech Inc stock $27.57, price $40.29, that is 31.6% below the price, quality 65 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $23.22 – $49.77 · fair‑value band $18.34 – $36.80 · the $40.29 price screens above the $27.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Tetra Tech, Inc. provides consulting and engineering services focusing on water, environment, and sustainable infrastructure in the United States and internationally.
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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.
Stock analysis
Tetra Tech Inc (TTEK) currently trades at $40.29, while our model-based Fair Value estimate is $27.57, 32% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $32.39 per share, and 0 of the 24 models we run sit above the $40.29 price.
Bear case: the Dividend Discount group reads lowest at $4.09, and 24 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $18.34 (bear) to $36.80 (bull), the price of $40.29 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Tetra Tech Inc reported revenue of $5.4B in FY2025 versus $3.2B in FY2021, a compound +14.1%/yr. Reported net income was $248M in FY2025, compounding +1.6%/yr from FY2021.
Key figures
Market cap $10.5B Large · P/E ratio 24.3 · P/S ratio 2.40 · EPS (TTM) $1.66 · Dividend yield 0.7% · Net margin 10.0% · Return on equity 24.3% · Return on assets (EBIT) 11.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at −32%, TTEK screens cheaper than that median.
Fair Value models
Bear$18.34Fair Value $27.57Bull$36.80
Price $40.29 · Downside -31.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($1.39 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $50,179, on May 15, 2026.
BuyJeffrey R FeelerDirector1,900 shares at $26.41$50,179May 15, 2026
SaleBrian N CarterSVP, Corporate Controller9,979 shares at $40.23$401,455Feb 4, 2026
Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.3%
Start year 2020 (pandemic). Over 10 years: +9.0% a year
Revenue growth 34 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+13.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.1%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.8.0% vs 12.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.10% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−7.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +10.9% a year for the price and −9.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Acquisitions of IT services firms have strengthened Tetra Tech's federal and digital capabilities alongside core engineering work, yet thin evidence and integration challenges leave margins without indicators of strong pricing power.
Main risk: Past falsification allegations that were settled could lead to heightened regulatory scrutiny or loss of federal remediation and environmental contracts that form a core revenue source.
Bull case: Tetra Tech could enhance compliance protocols and data verification processes to rebuild trust and secure additional federal environmental and consulting mandates.
Bear case: Further legal actions or stricter oversight on government contracts might reduce access to key federal work and increase operational costs in remediation services.
Tetra Tech has completed several acquisitions of IT services firms to strengthen its federal and digital capabilities alongside its core engineering work. This expansion targets higher-value areas but introduces integration challenges at a time when government contract timing remains uneven. Our models currently see the stock as overvalued. Will these additions deliver lasting margin gains or mainly increase operational complexity?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 791 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−31.6% · Below median
Profitability
Return on equity (12 months)24.3% · Top 25%
Return on assets5.8% · Top 25%
Net margin (12 months)10.0% · Top 25%
Operating margin (12 months)14.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−3.9% · Below median
Dividend yield (12 months)0.7% · Bottom 25%
Balance sheet
Debt / equity0.43× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)24.3× · Pricier than median
P/B5.88× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)2.40× · Priciest 25%
Price / free cash flow (fiscal year)23.8× · Pricier than median
EV/EBITDA16.9× · Priciest 25%
PEG2.10× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 34
FUTURE (revenue growth)0· sector 20
PAST (return on equity)97· sector 28
HEALTH (low debt)79· sector 94
DIVIDEND (yield)13· sector 44
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Tetra Tech Inc (TTEK) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $27.57 versus a price of $40.29, about 32% lower (overvalued).
What is the fair value of TTEK?
Our model-based fair value for Tetra Tech Inc is $27.57 (as of Nov 7, 2026), built from audited fundamentals. The current price: $40.29.
What is the quality score of TTEK?
Tetra Tech Inc has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Tetra Tech Inc (TTEK)?
Our model-based price target is the fair value of $27.57 (as of Nov 7, 2026) from 24 valuation models. Cautious scenario $18.34, optimistic scenario $36.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Tetra Tech Inc stock forecast for 2026?
Our models put fair value at $27.57, about 32% lower versus a price of $40.29 (overvalued). Cautious scenario $18.34, optimistic scenario $36.80. The calculation is refreshed regularly with new filings.
What is the revenue of Tetra Tech Inc (TTEK)?
Tetra Tech Inc reported trailing-twelve-month revenue of about $4.4B (latest available figure, as of Nov 7, 2026).
Does Tetra Tech Inc pay a dividend?
Tetra Tech Inc currently shows a dividend yield of 0.66% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Tetra Tech Inc (TTEK) and when is the ex-dividend date?
Tetra Tech Inc pays a dividend of $0.267 per share a year, a dividend yield of 0.7%. The last ex-dividend date was Aug 13, 2026. A dividend has been paid every year since at least 2014. The payout ratio is 11.8% of earnings (on adjusted earnings, reported 16.1%). Free cash flow covers the dividend 6.42 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Tetra Tech Inc (TTEK)?
For today's price to be fair in a discounted-cash-flow model, Tetra Tech Inc would have to grow free cash flow by +13.5 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.3 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of TTEK use?
Our models discount Tetra Tech Inc at 9.6 %: a base by market capitalisation (mid), damped by beta 0.95, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Tetra Tech Inc that is +13.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Tetra Tech Inc (TTEK) delivered so far?
Over the past 5 years revenue at Tetra Tech Inc grew +18.3 % a year. The price currently implies free-cash-flow growth of +13.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Tetra Tech Inc (TTEK) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Tetra Tech Inc (+13.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tetra Tech Inc (TTEK)?
The free-cash-flow yield on the price is 4.19 %: that much free cash flow Tetra Tech Inc produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tetra Tech Inc (TTEK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tetra Tech Inc it is $27.57 per share (as of Nov 7, 2026), against a price of $40.29. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Tetra Tech Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, TTEK trades above its calculated fair value: price $40.29, fair value $27.57, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TTEK?
No. The price is what the market pays today ($40.29); the fair value is what the company's own numbers justify ($27.57). For Tetra Tech Inc the two are $12.72 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tetra Tech Inc worth?
The market values Tetra Tech Inc at about $10.5B (market capitalisation, as of Nov 7, 2026). Per share that is $40.29; our models calculate a fair value of $27.57 per share.
What do the bullish and bearish scenarios say about TTEK?
Our models span a range for Tetra Tech Inc: cautious scenario $18.34, base $27.57, optimistic $36.80 per share (as of Nov 7, 2026, price $40.29). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TTEK?
Tetra Tech Inc trades at a price-to-earnings ratio of 24.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $27.57 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 31.7 (reported for FY2025: 43.3). Other multiples: PEG 2.1, P/B 5.9, P/S 2.4, EV/EBITDA 16.9.
What is the PEG ratio of TTEK?
The PEG ratio of Tetra Tech Inc is 2.10 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Tetra Tech Inc (TTEK)?
Balance-sheet figures for Tetra Tech Inc (as of Nov 7, 2026): return on equity 24.3%, debt of 0.43 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is TTEK from its 52-week high?
Tetra Tech Inc trades at $40.29, about 5% below its 52-week high of $42.34 and 54% above the low of $26.13 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $27.57 is for.
Which stocks are comparable to Tetra Tech Inc?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tetra Tech Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $40.29, calculated fair value $27.57 (−32%), Quality Score 65/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TTEK calculated?
We run Tetra Tech Inc through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $27.57 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Tetra Tech Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tetra Tech Inc (TTEK)?
The closing price on Nov 6, 2026 was $40.29. Our model-based fair value is $27.57, about 32% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tetra Tech Inc right now?
The price sits above even our optimistic bull case ($36.80). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($18.34 to $36.80) leaves room in how you read the outcome.
Where does the earnings growth of Tetra Tech Inc (TTEK) come from?
Earnings per share at Tetra Tech Inc grew +17.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +10.1 %, EBIT margin +7.3 %, tax rate +0.4 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Tetra Tech Inc
How large is the market capitalisation of Tetra Tech Inc (TTEK)?
The market capitalisation of Tetra Tech Inc is $10.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tetra Tech Inc (TTEK)?
The price-to-sales ratio of Tetra Tech Inc is 2.40 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tetra Tech Inc (TTEK)?
Earnings per share at Tetra Tech Inc are $1.66 (price ÷ EPS = P/E 24.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tetra Tech Inc (TTEK)?
The dividend yield of Tetra Tech Inc is 0.7% (payout 11.8%, on adjusted earnings, reported 16.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tetra Tech Inc (TTEK)?
The net margin of Tetra Tech Inc is 10.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tetra Tech Inc (TTEK)?
The return on equity (ROE) of Tetra Tech Inc is 24.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tetra Tech Inc (TTEK)?
On an EBIT basis the return on assets of Tetra Tech Inc is 11.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tetra Tech Inc (TTEK)?
The operating margin of Tetra Tech Inc is 14.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tetra Tech Inc (TTEK)?
Revenue at Tetra Tech Inc is growing −3.9% versus a year earlier (3y avg +24.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Tetra Tech Inc (TTEK)?
Earnings per share at Tetra Tech Inc are growing −2.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Tetra Tech Inc (TTEK) carry?
The net debt of Tetra Tech Inc is $820M (fiscal year 2025, ≈ 1.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026