Loading…
TETRA Technologies, Inc., together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products; and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa. This segment also markets liquid and dry calcium chloride products; and TETRA PureFlow ultra-pure zinc bromide to battery technology companies. Its Water & Flowback Services segment provides water management services for onshore oil and gas operators. This segment also offers frac flowback, early production facilities and services, production well testing, and other associated services in oil and gas producing regions in the United States, as well as in various basins in Latin America, Europe, and the Middle East. The company was incorporated in 1981 and is headquartered in Spring, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $631M | $81M | $3M | $20M | 1.1% | 5.3% | -97.2% |
| 2024 | $599M | $87M | $108M | $-24M | 42.5% | -4.3% | 320.0% |
| 2023 | $626M | $88M | $26M | $32M | 17.4% | 13.2% | 228.9% |
| 2022 | $553M | $60M | $8M | $-21M | 7.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 553.21 | 626.26 | 599.11 | 630.93 |
| Operating Revenue | - | 553.21 | 626.26 | 599.11 | 630.93 |
| Cost Of Revenue | - | 432.10 | 472.62 | 459.26 | 474.98 |
| Gross Profit | - | 121.11 | 153.65 | 139.85 | 155.95 |
| Operating Expense | - | 98.58 | 108.71 | 89.97 | 100.56 |
| Selling General And Administration | - | 91.94 | 96.59 | 89.97 | 100.56 |
| Total Expenses | - | 530.68 | 581.33 | 549.23 | 575.54 |
| Operating Income | - | 22.53 | 44.94 | 49.88 | 55.39 |
| EBITDA | - | 59.82 | 88.38 | 86.93 | 80.93 |
| Normalized EBITDA | - | 59.82 | 88.38 | 92.46 | 80.93 |
| EBIT | - | 27 | 54.05 | 51.21 | 43.83 |
| Interest Expense | - | 15.83 | 22.35 | 22.46 | 17.33 |
| Net Interest Income | - | -15.83 | -22.35 | -22.46 | -17.33 |
| Other Non Operating Income Expenses | - | 4.46 | 9.11 | 6.86 | -11.56 |
| Other Income Expense | - | 4.46 | 9.11 | 1.32 | -11.56 |
| Interest Expense Non Operating | - | 15.83 | 22.35 | 22.46 | 17.33 |
| Net Non Operating Interest Income Expense | - | -15.83 | -22.35 | -22.46 | -17.33 |
| Pretax Income | - | 11.17 | 31.70 | 28.74 | 26.50 |
| Tax Provision | - | 3.56 | 6.22 | -84.88 | 22.30 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -1.16 | 0 |
| Net Income Continuous Operations | - | 7.60 | 25.48 | 113.62 | 4.21 |
| Net Income From Continuing And Discontinued Operation | - | 7.84 | 25.78 | 108.28 | 3 |
| Net Income From Continuing Operation Net Minority Interest | - | 7.64 | 25.51 | 113.62 | 4.21 |
| Net Income | - | 7.84 | 25.78 | 108.28 | 3 |
| Net Income Common Stockholders | - | 7.84 | 25.78 | 108.28 | 3 |
| Net Income Including Noncontrolling Interests | - | 7.80 | 25.76 | 108.28 | 3 |
| Normalized Income | - | 7.64 | 25.51 | 118 | 4.21 |
| Diluted NI Availto Com Stockholders | - | 7.84 | 25.78 | 108.28 | 3 |
| Basic Average Shares | - | 128.08 | 129.57 | 131.28 | 133.20 |
| Diluted Average Shares | - | 129.78 | 131.24 | 132.23 | 135.15 |
| Reconciled Depreciation | - | 32.82 | 34.33 | 35.72 | 37.10 |
| Reconciled Cost Of Revenue | - | 432.10 | 472.62 | 459.26 | 474.98 |
| Total Unusual Items | - | 0 | 0 | -5.54 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -5.54 | 0 |
| Minority Interests | - | 0.04 | 0.03 | 0 | 0.01 |
| Net Income Discontinuous Operations | - | 0.20 | 0.28 | -5.34 | -1.21 |
| Special Income Charges | - | 0 | 0 | -5.54 | 0 |
| Other Special Charges | - | - | - | 5.54 | - |
| Impairment Of Capital Assets | 0 | - | - | - | - |
| General And Administrative Expense | - | 91.94 | 96.59 | 89.97 | 100.56 |
| Other Gand A | - | 91.94 | 96.59 | 89.97 | 100.56 |
| Gain On Sale Of Ppe | 1.04 | - | - | - | - |
| Other Operating Expenses | - | 6.64 | 12.12 | - | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| TETRA Technologies, Inc.this co. | TTI | $1.5B | 483.12↑ premium | 5.12 | 1.1% | 19.83 |
| Willdan Group, Inc. | WLDN | $1.5B | 28.15 | 4.85 | 17.2% | 23.01 |
| BlackSky Technology Inc. | BKSY | $1.5B | -20.95 | 15.51 | -74.1% | -67.62 |
| Ryerson Holding Corporation | RYZ | $1.5B | -26.03 | 1.95 | -7.5% | 47.61 |
| SFL Corporation Ltd. | SFL | $1.5B |
| - |
| - |
| - |
| - |
| - |
| -55.15 |
| 1.52 |
| -2.8% |
| 10.04 |
| The Greenbrier Companies, Inc. | GBX | $1.4B | 7.10 | 0.95 | 13.3% | 6.14 |
| Marten Transport, Ltd. | MRTN | $1.4B | 83.09 | 1.89 | 2.3% | 12.10 |
| Tennant Company | TNC | $1.4B | 32.96 | 2.40 | 7.3% | 13.28 |
| Hillman Solutions Corp. | HLMN | $1.4B | 35.39 | 1.16 | 3.3% | 8.51 |
| Peer Median | - | 17.62 | 1.92 | 2.8% | 11.07 | |