TETRA TECH, INC.

TTEK · Consumer Discretionary · $8.2B mkt cap · FY2025 filings · Shallow moat

Doesn't clear the bar

Shallow moat

The four filters

Pricing power20

Median gross margin 15.2% over 10y, stable.

Returns on capital80

Median ROIC 15.3%, above the 9% hurdle in 100% of years.

Balance-sheet safety57

Net debt/EBITDA 1.3x, interest coverage 10x.

Capital discipline91

Owner earnings +10.5%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

59% above value

Owner earnings (normalized): $287.6M
Est. intrinsic value / share: $19.80
Recent price: $31.46
Discount to value: 59% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell TTEK. See the disclaimer.