Tetra Tech (TTEK) FY2019 results: revenue $3.1 billion, up 4.8% on the year
Tetra Tech Inc. (TTEK) reported revenue of $3.1 billion for fiscal 2019, the year ended 29 September 2019, up 4.8% on the year before. Net income was $159 million, up 15.9%, and diluted earnings per share $0.57. The figures are the company's own, from the 10-K it filed with the SEC on 29 November 2019.
Revenue
$3.1 billion
+4.8% on the year
FY2016FY2019
Operating margin
6.1%
6.4% a year earlier
FY2016FY2019
Net income
$159 million
+15.9% on the year
FY2016FY2019
Diluted EPS
$0.57
+17.4% on the year
FY2016FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,107
2,964
2,753
+4.8%
Gross profit
408
384
354
+6.2%
Gross margin
13.1%
13.0%
12.8%
Operating income
189
190
183
-0.7%
Operating margin
6.1%
6.4%
6.7%
Interest expense
15.4
17.3
12.3
-11.5%
Pre-tax income
175
175
172
+0.3%
Income tax
16.4
37.6
53.8
-56.5%
Effective tax rate
9.3%
21.5%
31.3%
Net income
159
137
118
+15.9%
Net margin
5.1%
4.6%
4.3%
Diluted EPS
$0.57
$0.48
$0.41
+17.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
209
186
141
+12.3%
Capital expenditure
16.2
9.7
9.7
+66.5%
Free cash flow
192
176
132
+9.3%
Free cash flow margin
6.2%
5.9%
4.8%
Cash from investing
-99.7
-42.6
-17.0
Cash from financing
-135
-182
-98.3
Depreciation and amortisation
28.8
38.6
45.8
-25.3%
Share-based compensation
17.6
19.6
13.4
-10.0%
Buybacks
100
75.0
100
+33.3%
Dividends paid
29.7
24.5
21.7
+21.2%
Dividend per share
$0.11
$0.09
$0.08
+22.7%
Diluted shares, weighted
280m
283m
290m
-1.2%
Shares outstanding at period end
273m
277m
279m
-1.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
989
967
928
+2.3%
Non-controlling interest
0.2
0.1
0.2
+38.0%
Debt
276
277
357
-0.3%
Other liabilities
882
715
617
+23.3%
Total liabilities and equity
2,147
1,959
1,903
+9.6%
Fixed assets
39.4
43.3
56.8
-8.9%
Goodwill
925
799
741
+15.8%
Intangible assets
16.4
16.1
26.7
+2.0%
Cash and equivalents
121
146
190
-17.4%
Receivables
769
694
789
+10.7%
Other assets
277
261
99.6
+6.3%
Total assets
2,147
1,959
1,903
+9.6%
10-K for the year ended 29 September 2019, filed 29 November 2019: the filing.