Tetra Tech (TTEK) FY2020 results: revenue $3.0 billion, down 3.6% on the year
Tetra Tech Inc. (TTEK) reported revenue of $3.0 billion for fiscal 2020, the year ended 27 September 2020, down 3.6% on the year before. Net income was $174 million, up 9.6%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 23 November 2020.
Revenue
$3.0 billion
-3.6% on the year
FY2016FY2020
Operating margin
8.1%
6.1% a year earlier
FY2016FY2020
Net income
$174 million
+9.6% on the year
FY2016FY2020
Diluted EPS
$0.63
+11.3% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,995
3,107
2,964
-3.6%
Gross profit
447
408
384
+9.4%
Gross margin
14.9%
13.1%
13.0%
Operating income
241
189
190
+27.7%
Operating margin
8.1%
6.1%
6.4%
Interest expense
14.5
15.4
17.3
-5.7%
Pre-tax income
228
175
175
+30.2%
Income tax
54.1
16.4
37.6
+230.4%
Effective tax rate
23.7%
9.3%
21.5%
Net income
174
159
137
+9.6%
Net margin
5.8%
5.1%
4.6%
Diluted EPS
$0.63
$0.57
$0.48
+11.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
262
209
186
+25.9%
Capital expenditure
12.2
16.2
9.7
-24.4%
Free cash flow
250
192
176
+30.1%
Free cash flow margin
8.4%
6.2%
5.9%
Cash from investing
-63.0
-99.7
-42.6
Cash from financing
-163
-135
-182
Depreciation and amortisation
24.6
28.8
38.6
-14.7%
Share-based compensation
19.4
17.6
19.6
+10.3%
Buybacks
117
100
75.0
+17.2%
Dividends paid
34.7
29.7
24.5
+17.1%
Dividend per share
$0.13
$0.11
$0.09
+18.5%
Diluted shares, weighted
275m
280m
283m
-1.6%
Shares outstanding at period end
269m
273m
277m
-1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,037
989
967
+4.9%
Non-controlling interest
0.1
0.2
0.1
-69.7%
Debt
292
276
277
+5.5%
Operating lease liabilities
192
n/a
n/a
Other liabilities
858
882
715
-2.7%
Total liabilities and equity
2,379
2,147
1,959
+10.8%
Fixed assets
35.5
39.4
43.3
-10.0%
Goodwill
993
925
799
+7.4%
Intangible assets
13.9
16.4
16.1
-15.2%
Cash and equivalents
158
121
146
+30.5%
Receivables
649
769
694
-15.6%
Other assets
529
277
261
+90.8%
Total assets
2,379
2,147
1,959
+10.8%
10-K for the year ended 27 September 2020, filed 23 November 2020: the filing.