Granite Construction vs Tetra Tech
Tetra Tech reported revenue of $5.4 billion in fiscal 2025, 1.2 times Granite Construction's $4.4 billion in fiscal 2025. Granite Construction's revenue grew 10.4% in its latest year, and Tetra Tech's grew 4.7%. Granite Construction had an operating margin of 6.4%, against 7.5% at Tetra Tech. Free cash flow was $331 million at Granite Construction and $439 million at Tetra Tech. Their fiscal years end in different months (December 31 and September 28), so the periods don't line up exactly.
Side by side
| Granite Construction | Tetra Tech | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Sep 28, 2025 |
| Revenue | $4.4B | $5.4B |
| Revenue growth | 10.4% | 4.7% |
| Revenue growth a year, last 5 years | 4.4% | 12.7% |
| Gross margin | 16.1% | 17.7% |
| Operating margin | 6.4% | 7.5% |
| Net margin | 4.4% | 4.6% |
| Free cash flow | $331M | $439M |
| Free cash flow margin | 7.5% | 8.1% |
| Return on capital | 13.5% | 11.2% |
| Net debt to EBITDA | 1.7x | 1.3x |
| Dividends and buybacks | $71M | $315M |
| Change in diluted share count | 1.2% | −1.1% |
| Last close | $120.52 | $40.29 |
| P/E at the last close | — | 24.3× |
| Insider trades, last 12 months | bought $156,636, sold $9.7 million | bought $50,179, sold $401,455 |
| Piotroski F-score | 6 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Granite ConstructionTetra Tech
Operating margin
Percent of revenue
Granite ConstructionTetra Tech
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Granite ConstructionTetra Tech
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Granite Construction and Tetra Tech pages.