Sterling Infrastructure vs Tetra Tech
Tetra Tech reported revenue of $5.4 billion in fiscal 2025, 2.2 times Sterling Infrastructure's $2.5 billion in fiscal 2025. Sterling Infrastructure's revenue grew 17.7% in its latest year, and Tetra Tech's grew 4.7%. Sterling Infrastructure had an operating margin of 16.3%, against 7.5% at Tetra Tech. Free cash flow was $363 million at Sterling Infrastructure 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
| Sterling Infrastructure | Tetra Tech | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Sep 28, 2025 |
| Revenue | $2.5B | $5.4B |
| Revenue growth | 17.7% | 4.7% |
| Revenue growth a year, last 5 years | 15.2% | 12.7% |
| Gross margin | 23.0% | 17.7% |
| Operating margin | 16.3% | 7.5% |
| Net margin | 11.7% | 4.6% |
| Free cash flow | $363M | $439M |
| Free cash flow margin | 14.6% | 8.1% |
| Return on capital | 40.8% | 11.2% |
| Net debt to EBITDA | −0.2x | 1.3x |
| Dividends and buybacks | $74M | $315M |
| Change in diluted share count | −0.6% | −1.1% |
| Last close | $360.72 | $37.13 |
| P/E at the last close | 26.0× | 22.4× |
| Insider trades, last 12 months | sold $96.3 million | bought $50,179, sold $401,455 |
| Piotroski F-score | 7 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ 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
Sterling InfrastructureTetra Tech
Operating margin
Percent of revenue
Sterling InfrastructureTetra Tech
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Sterling InfrastructureTetra 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 Sterling Infrastructure and Tetra Tech pages.