NYSE : TIC
TIC Solutions, Inc. — Financial statements
Industrials · Specialty Business Services · United States
Last price 10.39 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.28B
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Financial statements
TIC Solutions, Inc. (TIC) reported revenue of 2.05B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 2.05B | 1.53B | 1.10B | 1.05B | 928.33M |
| Cost of Revenue | 1.36B | 1.08B | 831.73M | 810.53M | 725.38M |
| Gross Profit | 697.05M | 449.36M | 265.66M | 239.52M | 202.95M |
| Selling, General & Admin | 690.95M | 440.83M | 271.68M | 185.02M | 168.23M |
| Operating Expenses | 690.95M | 440.83M | 271.68M | 185.02M | 168.23M |
| Operating Income | 6.10M | 8.53M | -6.01M | 54.50M | 34.72M |
| Interest Expense | -113.55M | -87.62M | -70.44M | -60.02M | -24.16M |
| Other Non Operating Income (Expenses) | 6.47M | 6.54M | 3.56M | 1.24M | 12.89M |
| EBT Excluding Unusual Items | -100.98M | -72.54M | -72.89M | -4.28M | 23.45M |
| Merger & Restructuring Charges | -50.33M | -25.63M | -41.20M | ||
| Other Unusual Items | -800.00K | -9.07M | |||
| Pretax Income | -152.10M | -98.17M | -123.17M | -4.28M | 23.45M |
| Income Tax Expense | -36.12M | -11.06M | -2.01M | 2.01M | 3.41M |
| Net Income | -115.98M | -87.12M | -121.16M | -6.29M | 20.04M |
| Net Income to Common | -115.98M | -87.12M | -121.16M | -6.29M | 20.04M |
| Shares Outstanding (Basic) | 205.48M | 157.60M | 55.33M | 5.02M | 5.03M |
| Shares Outstanding (Diluted) | 205.48M | 158.60M | 55.33M | 5.02M | 5.09M |
| EPS (Basic) | -0.56 | -0.55 | -2.19 | -1.25 | 3.99 |
| EPS (Diluted) | -0.56 | -0.55 | -2.19 | -1.25 | 3.93 |
| Free Cash Flow | 22.23M | 61.26M | -4.51M | 73.67M | 16.91M |
| Free Cash Flow Per Share | 0.11 | 0.39 | -0.08 | 14.66 | 3.32 |
| Gross Margin | 33.93% | 29.36% | 24.21% | 22.81% | 21.86% |
| Operating Margin | 0.30% | 0.56% | -0.55% | 5.19% | 3.74% |
| Profit Margin | -5.64% | -5.69% | -11.04% | -0.60% | 2.16% |
| Free Cash Flow Margin | 1.08% | 4.00% | -0.41% | 7.02% | 1.82% |
| EBITDA | 245.60M | 186.86M | 87.08M | 149.32M | 121.16M |
| EBITDA Margin | 11.95% | 12.21% | 7.94% | 14.22% | 13.05% |
| D&A For EBITDA | 239.50M | 178.33M | 93.09M | 94.82M | 86.44M |
| EBIT | 6.10M | 8.53M | -6.01M | 54.50M | 34.72M |
| EBIT Margin | 0.30% | 0.56% | -0.55% | 5.19% | 3.74% |
| Effective Tax Rate | 14.53% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 362.42M | 439.54M | 139.13M | 87.06M | 62.59M |
| Trading Asset Securities | 3.10M | 12.48K | |||
| Cash & Short-Term Investments | 362.42M | 439.54M | 139.13M | 90.16M | 62.60M |
| Receivables | 585.02M | 520.73M | 236.52M | 233.24M | 234.84M |
| Prepaid Expenses | 66.90M | 60.77M | 18.58M | 10.51M | 10.28M |
| Total Current Assets | 1.01B | 1.02B | 394.24M | 333.91M | 307.72M |
| Property, Plant & Equipment | 293.71M | 315.83M | 219.23M | 134.71M | 157.63M |
| Goodwill | 1.66B | 1.65B | 845.94M | 511.50M | 505.40M |
| Other Intangible Assets | 1.31B | 1.39B | 740.66M | 264.33M | 299.13M |
| Long-Term Deferred Tax Assets | 1.40M | 1.44M | 765.00K | 2.37M | 1.53M |
| Other Long-Term Assets | 9.65M | 17.02M | 6.91M | 15.79M | 28.95M |
| Total Assets | 4.29B | 4.40B | 2.21B | 1.26B | 1.30B |
| Accounts Payable | 57.22M | 60.43M | 13.88M | 23.21M | 20.20M |
| Accrued Expenses | 157.26M | 143.02M | 66.04M | 60.34M | 50.52M |
| Current Portion of Long-Term Debt | 23.13M | 25.51M | 7.75M | 7.28M | 5.49M |
| Current Portion of Leases | 31.28M | 33.58M | 17.03M | 16.62M | 16.15M |
| Current Income Taxes Payable | 12.64M | 5.43M | 8.31M | ||
| Current Unearned Revenue | 61.84M | 47.85M | 1.64M | ||
| Other Current Liabilities | 4.79M | 8.61M | |||
| Total Current Liabilities | 348.16M | 318.99M | 106.33M | 112.88M | 100.67M |
| Long-Term Debt | 1.59B | 1.59B | 747.05M | 668.03M | 555.86M |
| Long-Term Leases | 58.99M | 66.05M | 40.75M | 38.06M | 37.38M |
| Long-Term Deferred Tax Liabilities | 185.11M | 222.96M | 150.67M | 35.29M | 57.90M |
| Other Long-Term Liabilities | 13.19M | 20.71M | 11.76M | 26.35M | 26.42M |
| Total Liabilities | 2.20B | 2.22B | 1.06B | 880.62M | 778.23M |
| Common Stock | 21.00K | 21.00K | 12.00K | 50.00K | 50.00K |
| Additional Paid-In Capital | 2.37B | 2.36B | 1.29B | 366.33M | 511.35M |
| Retained Earnings | -249.00M | -194.10M | -106.99M | 17.45M | 23.74M |
| Treasury Stock | -1.03M | -1.03M | |||
| Comprehensive Income & Other | -24.45M | 11.06M | -35.49M | -796.00K | -11.98M |
| Shareholders' Equity | 2.10B | 2.18B | 1.15B | 382.00M | 522.13M |
| Total Liabilities & Equity | 4.29B | 4.40B | 2.21B | 1.26B | 1.30B |
| Total Debt | 1.70B | 1.71B | 812.58M | 730.00M | 614.88M |
| Net Cash (Debt) | -1.34B | -1.27B | -673.45M | -639.83M | -552.28M |
| Net Cash Per Share | -6.53 | -8.03 | -12.17 | -127.34 | -108.42 |
| Filing Date Shares Outstanding | 219.22M | 222.15M | 1.00M | 5.69M | 5.03M |
| Total Common Shares Outstanding | 219.99M | 221.49M | 122.48M | 5.69M | 5.03M |
| Working Capital | 666.18M | 702.04M | 287.90M | 221.03M | 207.05M |
| Book Value Per Share | 9.53 | 9.84 | 9.40 | 67.11 | 103.88 |
| Tangible Book Value | -877.13M | -861.06M | -435.42M | -393.84M | -282.41M |
| Tangible Book Value Per Share | -3.99 | -3.89 | -3.56 | -69.19 | -56.19 |
| Land | 6.01M | 6.18M | 5.95M | 5.39M | 5.28M |
| Buildings | 25.97M | 25.36M | 19.31M | 20.21M | 16.20M |
| Machinery | 318.23M | 300.91M | 179.00M | 241.24M | 210.18M |
| Construction In Progress | 13.83M | 11.24M | 6.88M | 2.90M | 7.42M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | -115.98M | -87.12M | -121.16M | -6.29M | 20.04M |
| Depreciation & Amortization | 239.50M | 178.33M | 93.09M | 94.82M | 86.44M |
| Other Amortization | 7.43M | 5.35M | 3.77M | 3.59M | 3.25M |
| Stock-Based Compensation | 38.41M | 17.16M | 82.48M | 4.97M | 2.56M |
| Provision & Write-off of Bad Debts | 1.32M | ||||
| Other Operating Activities | -20.35M | -13.41M | 956.00K | -4.93M | -33.69M |
| Change in Accounts Receivable | -33.70M | 35.53M | -5.01M | 881.00K | -38.80M |
| Change in Accounts Payable | -7.27M | -1.44M | -14.17M | 2.92M | -3.50M |
| Change in Unearned Revenue | 493.00K | -1.49M | 196.00K | -153.00K | |
| Change in Other Net Operating Assets | -39.66M | -37.90M | -17.09M | 5.00K | 2.36M |
| Operating Cash Flow | 68.87M | 95.02M | 23.07M | 95.81M | 39.98M |
| Capital Expenditures | -46.65M | -33.76M | -27.57M | -22.14M | -23.07M |
| Sale of Property, Plant & Equipment | 6.27M | 4.69M | 1.80M | 1.62M | 978.00K |
| Cash Acquisitions | -838.69M | -845.02M | -1.87B | -6.01M | -45.58M |
| Investing Cash Flow | -879.06M | -874.09M | -1.89B | -26.53M | -67.67M |
| Long-Term Debt Issued | 875.00M | 805.00M | 195.00M | 50.00M | |
| Long-Term Debt Repaid | -25.39M | -28.11M | -91.33M | -13.19M | |
| Net Debt Issued (Repaid) | 836.37M | 849.61M | 776.89M | 103.67M | 36.81M |
| Issuance of Common Stock | 250.45M | 250.45M | 666.63M | 266.00K | |
| Repurchase of Common Stock | -18.44M | -753.00K | |||
| Common Dividends Paid | -150.00M | ||||
| Other Financing Activities | -23.17M | -24.33M | -21.36M | -2.84M | -357.00K |
| Financing Cash Flow | 1.05B | 1.08B | 1.42B | -49.18M | 35.97M |
| Foreign Exchange Rate Adjustments | -2.67M | 3.75M | -8.00M | 4.38M | -5.62M |
| Net Cash Flow | 232.36M | 300.40M | -455.40M | 24.48M | 2.65M |
| Free Cash Flow | 22.23M | 61.26M | -4.51M | 73.67M | 16.91M |
| Free Cash Flow Margin | 1.08% | 4.00% | -0.41% | 7.02% | 1.82% |
| Free Cash Flow Per Share | 0.11 | 0.39 | -0.08 | 14.66 | 3.32 |
| Levered Free Cash Flow | -9.67M | -30.41M | 85.21M | 89.11M | |
| Unlevered Free Cash Flow | 53.86M | 19.01M | 125.46M | 123.03M | |
| Cash Interest Paid | 105.33M | 80.80M | 69.32M | 60.35M | 35.91M |
| Cash Income Tax Paid | 26.32M | 27.77M | 26.91M | 29.76M | 17.40M |
| Change in Working Capital | -80.14M | -5.29M | -36.08M | 3.65M | -39.94M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 2.22B | 2.24B | 1.56B | 485.77M | |
| Enterprise Value | 3.56B | 3.79B | 2.24B | ||
| Last Close Price | 10.05 | 10.11 | 12.75 | 9.00 | |
| Forward PE | 18.09 | 30.60 | |||
| PS Ratio | 1.07 | 1.46 | 1.42 | 0.46 | |
| PB Ratio | 1.05 | 1.03 | 1.36 | 1.27 | |
| P/FCF Ratio | 99.13 | 36.56 | 6.59 | ||
| P/OCF Ratio | 31.99 | 23.57 | 67.69 | 5.07 | |
| EV/Sales Ratio | 1.73 | 2.48 | 2.04 | ||
| EV/EBITDA Ratio | 14.43 | 20.29 | 25.72 | ||
| EV/EBIT Ratio | 581.04 | 444.27 | |||
| EV/FCF Ratio | 159.49 | 61.88 | |||
| Debt / Equity Ratio | 0.81 | 0.79 | 0.71 | 1.91 | 1.18 |
| Debt / EBITDA Ratio | 6.27 | 8.22 | 8.15 | 4.62 | 4.79 |
| Debt / FCF Ratio | 76.67 | 27.96 | 9.91 | 36.37 | |
| Net Debt / Equity Ratio | 0.64 | 0.58 | 0.58 | 1.68 | 1.06 |
| Net Debt / EBITDA Ratio | 5.46 | 6.81 | 7.73 | 4.29 | 4.56 |
| Net Debt / FCF Ratio | 60.37 | 20.79 | -149.42 | 8.69 | 32.67 |
| Asset Turnover | 0.63 | 0.46 | 0.63 | 0.82 | |
| Quick Ratio | 2.72 | 3.01 | 3.53 | 2.87 | 2.96 |
| Current Ratio | 2.91 | 3.20 | 3.71 | 2.96 | 3.06 |
| Return on Equity (ROE) | -7.08% | -5.23% | -15.80% | -1.39% | |
| Return on Assets (ROA) | 0.12% | 0.16% | -0.22% | 2.66% | |
| Return on Invested Capital (ROIC) | 0.18% | 0.32% | -0.42% | 5.20% | 2.76% |
| Return on Capital Employed (ROCE) | 0.20% | 0.20% | -0.30% | 4.70% | 2.90% |
| Earnings Yield | -5.57% | -3.89% | -7.76% | -1.29% | |
| FCF Yield | 1.01% | 2.73% | -0.29% | 15.17% | |
| Buyback Yield / Dilution | -80.15% | -186.63% | -1,001.19% | 1.35% |