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Tetra Tech (TTEK) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Jul 31, 2026 · Tetra Tech (TTEK) Q3 FY26 earnings results →

Q3 FY26 Revenue down 4% year over year to $1.3B · 8¢ of every $1 of revenue kept as net profit · operating margin 12.1%

Tetra Tech made $1.3B in Q3 FY26 (-4% Y/Y). Operating margin 12.1%, net earnings $110M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 31, 2026.

Revenue$1.3B
Year over year-4%
Operating margin12.1%
Net earnings$110M
Operating cash flow$229M

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Tetra Tech Q3 FY26 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Tetra Tech Q3 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.3B in Q3 FY26, down 4% year over year and up 7% from the previous quarter.

Gross margin was 18.6%, up 0.2 points from Q3 FY25. Operating profit was $0.16B, a 12.1% margin (unchanged year over year). Operating expenses fell 1% while revenue fell 4%. Net earnings were $0.11B, down 4% year over year. The effective tax rate was 27.2%.

Operating cash flow was $0.23B (down 35% year over year), 209% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $3.8M left free cash flow of $0.23B.

Quarterly history

Tetra Tech revenue by quarterTetra Tech revenue by quarter$1.4BQ4 FY24$1.3BQ2 FY25$1.4BQ3 FY25$1.3BQ4 FY25$1.2BQ1 FY26$1.2BQ2 FY26$1.3BQ3 FY26
Tetra Tech net earnings by quarterTetra Tech net earnings by quarter$96.2MQ4 FY24$5.4MQ2 FY25$114MQ3 FY25$128MQ4 FY25$105MQ1 FY26$93.8MQ2 FY26$110MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QJul 31, 2026$1.3B-4%12.1%$110M$229M
Q2 FY2610-QMay 1, 2026$1.2B-8%10.8%$93.8M$165M
Q1 FY2610-QJan 30, 2026$1.2B-15%11.6%$105M$72.3M
Q4 FY2510-KNov 20, 2025$1.3B-3%13.6%$128M$101M
Q3 FY2510-QAug 1, 2025$1.4B+2%12.0%$114M$350M
Q2 FY2510-QMay 8, 2025$1.3B+6%3.0%$5.4M−$5.8M
Q4 FY2410-KNov 19, 2024$1.4B+9%10.4%$96.2M$106M

Charts

Tetra Tech: revenue growth, year over year and quarter over quarterTetra Tech: revenue growth, year over year and quarter over quarterY/YQ/Q+9%Q4 FY24+6%-4%Q2 FY25+2%+4%Q3 FY25-3%-3%Q4 FY25-15%-9%Q1 FY26-8%+1%Q2 FY26-4%+7%Q3 FY26
Latest (Q3 FY26): Y/Y -4%, Q/Q +7%.
Tetra Tech: where the cash came from (+) and went (−), TTM to Q3 FY26Tetra Tech: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$567MBuybacks−$252MAcquisitions−$191MNet borrowing (+) / repaid (−)−$78.9MDividends−$69.5MAsset & business sales$42.7MCapital spending−$20.1MTaxes on employees’ shares−$12.6MCash drawn (+) / kept (−)$12.0MOther investing$4.8MOther financing−$3.1MShares issued$817K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Tetra Tech: profit against cash, quarter by quarterTetra Tech: profit against cash, quarter by quarterNet incomeOperating cash flow$96.2M$106MQ4 FY24$778K$13.1MQ1 FY25$5.4M−$5.8MQ2 FY25$114M$350MQ3 FY25$128M$101MQ4 FY25$105M$72.3MQ1 FY26$93.8M$165MQ2 FY26$110M$229MQ3 FY26
Latest (Q3 FY26): Net income $110M, Operating cash flow $229M.
Tetra Tech: diluted shares by fiscal year (split-adjusted)Tetra Tech: diluted shares by fiscal year (split-adjusted)275MFY20273MFY21271MFY22268MFY23270MFY24267MFY25
-2.9% since FY20: buybacks shrank the count; earlier years scaled for the 5-for-1 split before FY22.
Tetra Tech: long-term debt falling due (FY25)Tetra Tech: long-term debt falling due (FY25)$3.1M2026$591M2027$25.0M2028$156M2029
Cash $167M, short-term investments —, long-term debt $766M at 2025-09-28.
Tetra Tech in its industry: growth against margin (7 companies, SIC 8711)Tetra Tech in its industry: growth against margin (7 companies, SIC 8711)revenue growth, year over year →↑ operating marginmedian +5%median 7%ACMVSECWLDNMGACFNOFALTTEK (-4%, 12%)
Services-Engineering Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Tetra Tech

Te tra Tech, Inc. ("Tetra Tech") is a leading global provider of high-end consulting and engineering services that focuses on water, environment and sustainable infrastructure. We are a global company that is Leading with Science® to provide innovative solutions for our public and private clients. We typically begin at the earliest stage of a project by identifying technical solutions and developing execution plans tailored to our clients' needs and resources. Tetra Tech is Leading with Science® to provide sustainable and resilient solutions to our clients' most complex needs. Engineering News-Record ("ENR"), the engineering industry's leading magazine, has ranked Tetra Tech #1 in Water Treatment and Desalination for 12 years in a row.

In its own words, from its 10-K, filed Nov 20, 2025.

Tetra Tech against its Services-Engineering Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +5%. Operating margin: 12.1% against the peers' median 7.6%.

CompanyQuarterRevenueY/YOp. margin
TTEK Tetra TechQ3 FY26$1.3B-4%12.1%
ACM AECOMQ4 FY25$4.2B+2%5.7%
VSEC VSEQ3 2026$541M+91%14.3%
WLDN Willdan GroupQ3 2026$215M+18%7.6%
MG Mistras GroupQ3 2026$205M+5%7.4%
ACFN Acorn EnergyQ3 2026$2.6M+5%7.3%
HYOR HyOrcQ2 2026$24K—100.0%
OFAL OFAQ1 FY27$15K-22%n/m

Source: Tetra Tech 10-Q on SEC EDGAR · CIK 831641 · Services-Engineering Services

13F: who owns TTEK and who is buying

Largest holders of TTEK (13F)Largest holders of TTEK (13F)Vanguard Group$865MBlackRock$828MVanguard Portfolio Management LLC$360MVanguard Capital Management LLC$339MCapital International Investors$337MState Street$282MFMR LLC$253MGeode Capital Management, LLC$197MFIL$158MFuller & Thaler Asset Management$142M
Funds' net buying of TTEK by quarter (13F)Funds' net buying of TTEK by quarter (13F)−$46.7M2024-09−$152M2024-12$373M2025-03$218M2025-06$136M2025-09−$211M2025-12$152M2026-03$137M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on TTEK

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Tetra Tech（TTEK）财报

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