Tetra Tech, Inc. (TTEK) Stock Price & How to Invest

Tetra Tech provides consulting, engineering, program management, and construction management services focused on water, environment, and sustainable infrastructure, operating through its Government Services Group (GSG) and Commercial/International Services Group (CIG). Its clients span US federal, state, and local agencies plus commercial and international customers, and its expertise in water resources, environmental remediation, and data analytics has made it one of the leading pure-play firms in the space alongside AECOM, WSP, Jacobs, Stantec, and Arcadis.

The investment picture centers on durable demand for water and environmental infrastructure, a multi-billion-dollar backlog, and steady margins, offset by heavy reliance on government budgets. Fiscal 2025 revenue was roughly $4.6 billion, and trailing twelve-month revenue has since eased to about $4.36 billion (down about 4 percent year over year in the latest quarter) as the loss of USAID and State Department work rolled through. Net income over the last twelve months was about $436 million, a 10 percent net margin.

The most recent quarter, fiscal Q3 2026 (ended June 28), brought revenue of about $1.11 billion and EPS of $0.42 against a $0.40 consensus, the fourth straight quarter ahead of estimates. As of October 16, 2026, the stock sits at about $34.70, up about 3 percent in 2026 and about 6 percent over the past year, well below its 52-week high near $43. In late September the company appointed new group presidents, including David Bohmann to lead the Commercial/International group. Fiscal Q4 results are scheduled for November 11, 2026, with consensus around $0.47 in EPS on about $1.15 billion of revenue.

The biggest risk is dependence on government spending, shown vividly when a USAID and State Department funding pause cut roughly $200 million in one quarter and hundreds of millions in annualized revenue; trailing revenue is still running about 4 percent below a year ago. Federal budget shifts, contract delays, and political changes can quickly alter demand for parts of the business. As a services firm, Tetra Tech is also exposed to labor availability, wage inflation, and its ability to keep skilled engineers billable. Large competitors such as AECOM, WSP, and Jacobs pressure pricing on major programs. Analyst sentiment has cooled slightly, with RBC trimming its price target to $44 from $46 in mid-October while keeping an Outperform rating. Finally, the shares trade at about 20 times earnings, which leaves limited room for execution missteps if the recovery in revenue slips.

6 analysts publish price targets on TTEK, averaging $40.50 against a $34.72 price as of October 2026, or +16.6%. The published targets run from $37.00 to $46.00, a narrow spread, and the ratings split 5 buy, 3 hold, 0 sell. Over the last six months there have been 0 raises and 3 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full TTEK forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Tetra Tech, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Water and environmental infrastructure demand. Tetra Tech is positioned as a high-end specialist in water resources, treatment, and environmental remediation, markets that many analysts project to grow at a mid-to-high single-digit pace through the early 2030s. The most optimistic published target, $46.00, assumes this works close to its best case.

The case against. The biggest risk is dependence on government spending, shown vividly when a USAID and State Department funding pause cut roughly $200 million in one quarter and hundreds of millions in annualized revenue; trailing revenue is still running about 4 percent below a year ago. The most pessimistic target, $37.00, is roughly what TTEK is worth if this bites instead.

Read the full bull and bear case on TTEK, including what would have to change to break either one. Walnut is not an investment adviser.

Yes. Tetra Tech, Inc. (TTEK) has had one share split in the last 10 years:

• 5:1 on September 9, 2024, so every share held became 5 shares.

A split changes the share count and the price per share and leaves the value of a holding unchanged. Someone holding $1,000 of TTEK the day before the 5:1 split held $1,000 the day after, in more shares at a proportionally lower price. Historical prices from before the date are normally shown split-adjusted, which is why a long-run chart shows no cliff.

Splits matter mainly because they make older price figures confusing to compare by hand, and because a board choosing to split is usually signalling that the price has run up far enough to feel awkward for smaller buyers. Neither is a reason to buy or sell.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Tetra Tech, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$4.36B
• Revenue growth (latest quarter, YoY): ~-4%
• Operating / net margin: ~14% / ~10%
• Net income (TTM): ~$436M
• P/E (trailing / forward): ~21x / ~20x
• Market cap: ~$8.9B
• Dividend yield: ~0.8%

At about $34.70, TTEK trades near 21 times trailing and 20 times forward earnings, and roughly 15 times EV/EBITDA, a modest premium to the commercial-services group that reflects its specialized positioning and steady margins. The six analysts covering the stock carry a mean target of about $40.50 and a buy-leaning consensus. Fiscal Q4 results on November 11, 2026 are the next test of whether revenue is turning back up.

Other names that sit close to TTEK: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get TTEK exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so TTEK sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where TTEK fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

TTEK is a specialized, cash-generative water and environmental engineering leader whose story hinges on getting revenue growing again after the federal funding pause, plus continued margin discipline, against a heavy exposure to government funding cycles. At about 20 times earnings, the shares price in a steady recovery rather than a sharp one.

Whether TTEK is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TTEK a buy or a sell?, and where the stock could go from here in the TTEK stock forecast.

For income investors, whether TTEK pays a dividend and how the payout looks is covered in does TTEK pay a dividend? And to weigh TTEK against a peer, read the full side-by-side comparisons: TTEK vs ACM and TTEK vs WSPOF.