TIC Solutions, Inc. is a US-listed company in the research & consulting services industry. Its financial year ends in December.
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~$8.7
Valuation models combined (2)
Base case. Range ~$6.6–$13. Weighted average of 2 models (forward price-to-earnings vs peers, forward price-to-sales vs peers).
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
TIC Solutions, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $2.05bn. It passes 1 of our 5 financial-health checks. Our price-to-sales vs peers value is $15.46 a share, against a share price of $9.58.
Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 82% in the quarter to 2026-06-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
We value TIC Solutions, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: the projected cash flows don't support a positive value |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$6.6 ~$7.5–$12 | Included |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$13 ~$11–$28 | Included, half weight |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$8.7 ~$6.6–$13 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare TIC Solutions, Inc. with Research & Consulting Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.
Next results: November 5, 2026, before the open. Analysts expect revenue of $615m and EPS of $0.18 (range $0.18 to $0.19) for the quarter.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $0.45 | +304% | $2.2bn | +45% |
| Next | $0.57 | +26% | $2.3bn | +5% |
Next year's EPS estimate has moved +12.9% in 90 days, across 4 analysts.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.12 | $0.02 | −81.7% |
| Mar 2026 | $0.02 | −$0.10 | −592.5% |
| Dec 2025 | $0.09 | −$0.13 | −249.7% |
| Sept 2025 | $0.09 | −$0.00 | −101.0% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2026 to date |
|---|---|
| Return | |
| TIC | +2% |
| Industry peers (median) | −3% |
| S&P 500 | +11% |
| Months that ended higher | |
| TIC | 36% |
| S&P 500 | 46% |
| Largest fall from a high during the year | |
| TIC | −44% |
| S&P 500 | −9% |
Worst fall since February 18, 2025: 55% from September 26, 2025 to July 20, 2026. Getting back needed a 122% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 6, 2026 | +23.0% | +0.5% | +22.7% | +14.4% |
| May 6, 2026 | +5.4% | +1.1% | −5.9% | −11.8% |
| March 12, 2026 | −14.2% | −2.1% | −9.0% | −14.2% |
| November 12, 2025 | −7.9% | −1.6% | −16.9% | −5.2% |
| August 14, 2025 | +1.9% | −0.2% | +6.4% | +17.5% |
| May 15, 2025 | −2.1% | +1.1% | +0.3% | +5.3% |
| March 27, 2025 | +0.2% | −2.3% | −10.2% | −11.0% |
Source: SEC EDGAR filings. Retrieved October 26, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY25 Q3 | $1.3B |
| FY25 Q4 | $1.5B |
| FY26 Q1 | $1.8B |
| FY26 Q2 | $2.1B |
Source: SEC EDGAR filings. Retrieved October 26, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY25 Q3 | -0.1% |
| FY25 Q4 | -1.1% |
| FY26 Q1 | -2.1% |
| FY26 Q2 | -2.2% |
| Fiscal year | 2023 Dec 2023 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|
| Income | |||
| Revenue | 1,050 | 1,530 | 2,055 |
| Gross profit | 240 | 449 | 697 |
| EBITDA | — | 161 | 195 |
| Operating income | — | −17 | −44 |
| Net income | — | −87 | −116 |
| Growth (year on year) | |||
| Revenue | — | +45.7% | — |
| Margins | |||
| Gross margin | 22.8% | 29.4% | 33.9% |
| EBITDA margin | — | 10.5% | 9.5% |
| Operating margin | — | −1.1% | −2.2% |
| Net margin | — | −5.7% | −5.6% |
| Free-cash-flow margin | — | 4.0% | 1.1% |
| Cash flow | |||
| Cash from operations | — | 95 | 69 |
| Capital spending | — | 34 | 47 |
| Free cash flow | — | 61 | 22 |
| Stock-based pay | — | 17 | 37 |
| Free cash flow after stock pay | — | 44 | −15 |
| Balance sheet | |||
| Cash | — | 440 | 362 |
| Total debt | — | 1,651 | 1,613 |
| Net debt (negative = net cash) | — | 1,212 | 1,250 |
| Returned to shareholders | |||
| Dividends | — | 0 | — |
| Total returned | — | 0 | — |
| Quarter | 2024 Q2 Jun 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 309 | 262 | 234 | 314 | 474 | 508 | 488 | 584 |
| Gross profit | 81 | 54 | 44 | 74 | 153 | 179 | 161 | 204 |
| EBITDA | — | −3 | 19 | 48 | 45 | 50 | 30 | 71 |
| Operating income | 20 | −3 | −9 | 18 | −7 | −19 | −29 | 11 |
| Net income | −5 | 0 | −26 | −0 | −14 | −47 | −42 | −13 |
| Diluted EPS | — | — | — | — | −$0.08 | — | — | — |
| Growth (year on year) | ||||||||
| Revenue | — | — | — | +1.5% | — | +94.0% | +108.4% | +86.1% |
| EBITDA | — | — | — | — | — | — | +55.6% | +48.8% |
| Operating income | — | — | — | −7.1% | — | — | — | −40.9% |
| Margins | ||||||||
| Gross margin | 26.1% | 20.8% | 18.6% | 23.6% | 32.2% | 35.2% | 33.1% | 34.9% |
| EBITDA margin | — | −1.3% | 8.2% | 15.3% | 9.4% | 9.8% | 6.1% | 12.2% |
| Operating margin | 6.4% | −1.3% | −4.0% | 5.8% | −1.4% | −3.8% | −6.0% | 1.9% |
| Net margin | −1.8% | 0.0% | −11.0% | −0.1% | −2.9% | −9.3% | −8.5% | −2.3% |
| Free-cash-flow margin | — | — | 12.1% | −4.6% | 2.2% | 7.3% | 0.9% | −5.0% |
| Cash flow | ||||||||
| Cash from operations | — | — | 33 | −6 | 19 | 50 | 10 | −10 |
| Capital spending | — | — | 4 | 8 | 9 | 13 | 6 | 20 |
| Free cash flow | — | — | 28 | −15 | 10 | 37 | 4 | −29 |
| Stock-based pay | — | 0 | 1 | 2 | 6 | 8 | 13 | 11 |
| Free cash flow after stock pay | — | — | 27 | −16 | 5 | 29 | −9 | −40 |
| Last 12 months unless stated | TIC | ICFI | HURN | CLVT | VRSK | ULS | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $2.1bn | $1.8bn | $1.8bn | $2.4bn | $3.1bn | $3.1bn | $636m |
| Revenue growth, last 12 months | — | −7.9% | 13.6% | −3.5% | 5.0% | 6.6% | 4.8% |
| Revenue growth, 3-year average | — | −1.9% | 11.8% | −2.6% | 6.9% | — | 6.8% |
| Revenue growth, latest quarter | 86.1% | −0.3% | 15.4% | −5.5% | 4.4% | 5.2% | 4.4% |
| Gross margin | 33.9% | 37.2% | 28.6% | 66.8% | 70.2% | 50.3% | 42.7% |
| Operating margin | −2.2% | 7.8% | 10.3% | −3.5% | 43.9% | 17.9% | 5.5% |
| Operating margin, 3-year average | — | 7.9% | 10.3% | −13.9% | 43.2% | 16.3% | 6.0% |
| Net margin | −5.6% | 4.9% | 6.4% | −13.8% | 28.2% | 16.1% | 2.9% |
| Cash from operations / revenue | 3.4% | 12.1% | 9.9% | 23.8% | 47.9% | 21.6% | 9.6% |
| Free-cash-flow margin | 1.1% | 10.9% | 8.9% | 13.6% | 39.4% | 13.9% | 7.4% |
| Free-cash-flow margin, 3-year average | — | 8.4% | 9.6% | 14.3% | 34.9% | 12.1% | 8.6% |
| Stock pay / revenue | 1.8% | 1.2% | 2.5% | 2.6% | 1.8% | 2.0% | 2.5% |
| Change in share count | — | −2.1% | −5.2% | −6.8% | −3.6% | 0.6% | 0.5% |
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Inspection and Mitigation | $1.1B | 71.8% | — |
| Consulting Engineering | $300M | 19.6% | — |
| Geospatial | $131M | 8.6% | — |
| Region | Revenue | Share | YoY |
|---|---|---|---|
| United States | $984M | 64.3% | — |
| Canada | $488M | 31.9% | — |
| Other Foreign Countries | $58.1M | 3.8% | — |
From TIC Solutions, Inc.'s 10-K filed March 12, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Viking Global Investors LP | $290M | 35.8M | 19.2% | 0.0% |
| Permian Investment Partners, LP | $172M | 21.3M | 11.4% | ▼ 2.9% |
| Gates Capital Management, Inc. | $158M | 19.5M | 10.4% | ▼ 10.7% |
| Alyeska Investment Group, L.P. | $151M | 18.6M | 9.9% | ▼ 0.8% |
| Progeny 3, Inc. | $126M | 15.6M | 8.3% | ▲ 1.6% |
| Vanguard Capital Management LLC | $66.7M | 8.2M | 4.4% | ▲ 0.5% |
| Jefferies Financial Group Inc. | $40.5M | 5.0M | 2.7% | 0.0% |
| Point72 Asset Management, L.P. | $39M | 4.8M | 2.6% | New |
| Geode Capital Management, LLC | $37.6M | 4.7M | 2.5% | ▲ 3.6% |
| State Street Corp | $34.5M | 4.3M | 2.3% | ▲ 0.1% |
| Dimensional Fund Advisors LP | $34.1M | 4.2M | 2.3% | ▲ 18.0% |
| Clearline Capital LP | $31.7M | 3.9M | 2.1% | ▼ 7.4% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not TIC Solutions, Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Tong Richard General Counsel | November 18, 2025 | Sell | 52,467 | $9.58 | $502,634 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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