Latest Ratios: P/E Ratio -14.0x · EV/EBITDA 16.6x · ROE -5.2%. (2023–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Market Cap | $1.8B | $1.6B | — | — |
| Enterprise Value | $3.1B | $2.9B | — | — |
| P/E Ratio → | -14.00 | — | — | — |
| P/S Ratio | 1.19 | 1.04 | — | — |
| P/B Ratio | 0.60 | 0.73 | — | — |
| P/FCF | 29.80 | 26.01 | — | — |
| P/OCF | 19.22 | 16.77 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| EV / Revenue | — | 1.87 | — | — |
| EV / EBITDA | 16.59 | 15.34 | — | — |
| EV / EBIT | 363.23 | — | — | — |
| EV / FCF | — | 46.79 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Gross Margin | 29.4% | 29.4% | 24.2% | 22.8% |
| Operating Margin | 0.6% | 0.6% | -4.3% | 5.2% |
| Net Profit Margin | -5.7% | -5.7% | -11.0% | -0.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| ROE | -5.2% | -5.2% | -15.8% | -1.6% |
| ROA | -2.6% | -2.6% | -7.0% | -0.5% |
| ROIC | 0.2% | 0.2% | -2.5% | 4.0% |
| ROCE | 0.3% | 0.3% | -2.9% | 4.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Debt / Equity | 0.79 | 0.79 | 0.71 | 1.91 |
| Debt / EBITDA | 9.17 | 9.17 | 17.71 | 4.89 |
| Net Debt / Equity | — | 0.58 | 0.59 | 1.68 |
| Net Debt / EBITDA | 6.81 | 6.81 | 14.68 | 4.31 |
| Debt / FCF | — | 20.79 | — | 8.73 |
| Interest Coverage | -0.12 | -0.12 | -0.09 | 0.93 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Current Ratio | 3.20 | 3.20 | 3.71 | 2.96 |
| Quick Ratio | 3.20 | 3.20 | 3.71 | 2.96 |
| Cash Ratio | 1.38 | 1.38 | 1.31 | 0.77 |
| Asset Turnover | — | 0.35 | 0.50 | 0.83 |
| Inventory Turnover | — | — | — | — |
| Days Sales Outstanding | — | 124.20 | 78.67 | 81.08 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Dividend Yield | — | — | — | — |
| Payout Ratio | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Earnings Yield | — | — | — | — |
| FCF Yield | 3.4% | 3.8% | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $158M | $121M | $5M |
Includes 30+ ratios · 3 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TIC stock.
TIC Solutions, Inc.'s current P/E ratio is -14.0x. This places it at the 50th percentile of its historical range.
TIC Solutions, Inc.'s current EV/EBITDA is 16.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.3x.
TIC Solutions, Inc.'s return on equity (ROE) is -5.2%. The historical average is -7.6%.
Based on historical data, TIC Solutions, Inc. is trading at a P/E of -14.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TIC Solutions, Inc. has 29.4% gross margin and 0.6% operating margin.
TIC Solutions, Inc.'s Debt/EBITDA ratio is 9.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Growth without profit conversion
Metrics are mathematically derived from official filings.
Margin Expansion Masked by Persistent Losses
Gross margin improved to 34.9% in 2026Q2 from 18.6% a year earlier, yet net margin remains negative at -2.3%, per the latest quarterly data, indicating that operating costs are absorbing gains.
The gross margin trajectory suggests a structural improvement in product mix or pricing power, but the operating margin of 1.9% and net loss of $13.3M in 2026Q2 reveal that SG&A and other costs are consuming the gross profit. The gap between gross and operating margins widened to 33 percentage points, implying that the company's cost structure has not scaled with revenue. Investors should monitor whether operating leverage materializes as revenue growth continues, or if the margin compression is a permanent feature of the business model.
Returns on Capital Remain Subdued
ROIC has hovered near zero, reaching only 0.3% in 2026Q2, while ROE is negative at -0.6%, as reported in the latest financials, suggesting that the capital base is not yet generating meaningful returns.
Despite a surge in revenue and a doubling of total assets to $4.3B, ROIC and ROE remain near breakeven, indicating that the company is not yet compounding shareholder value. The negative ROE reflects the persistent net losses, while the low ROIC suggests that the invested capital, including the $1.7B in goodwill, is not yet producing adequate operating income. The improvement in gross margin could eventually translate into higher returns, but the current data shows that the company is still in an investment phase with returns lagging.
Working Capital Efficiency Deteriorates
DSO rose to 71 days in 2026Q2 from 67 days in 2025Q2, while DPO increased to 17 days, per the quarterly data, indicating that cash collection is slowing and supplier payment terms are lengthening.
The increase in DSO suggests that the company is extending credit to customers to drive revenue growth, which may strain liquidity if collections do not improve. The DPO of 17 days is relatively short, indicating that TIC is paying suppliers quickly, which reduces its cash conversion cycle but also limits its ability to finance operations with supplier credit. The working capital outflow of $58.1M in 2026Q2, as noted in the cash flow statement, underscores the cash drag from these efficiency metrics. Investors should watch whether DSO stabilizes as revenue growth normalizes.
Leverage Metrics Distorted by Debt Reclassification
D/E dropped to 0.05 in 2026Q2 from 0.80 in 2026Q1, per the balance sheet, but this appears to be a reclassification rather than a true deleveraging, as total debt was $1.7B in the prior quarter.
The dramatic decline in D/E and D/EBITDA from 57.1 to 1.59 in one quarter is not consistent with the balance sheet expansion and the $1.7B debt reported in 2026Q1. This suggests that the debt may have been reclassified, possibly to a different liability category, which obscures the true leverage position. Interest coverage of 0.42 in 2026Q2 indicates that operating income is barely sufficient to cover interest expenses, and the negative coverage in prior quarters highlights the risk. Investors should scrutinize the debt footnotes to understand the actual leverage and refinancing risk.
Liquidity Ratios Comfortable but Cash Eroding
Current ratio stands at 2.91 in 2026Q2, per the latest balance sheet, but cash declined to $362.4M from $439.5M in 2025Q4, indicating a tightening liquidity buffer despite the healthy ratio.
The current ratio of 2.91 suggests that TIC has ample short-term assets to cover its liabilities, but the declining cash balance and negative free cash flow of -$25.2M in 2026Q2 indicate that the company is consuming cash to fund growth. The quick ratio equals the current ratio, implying that inventory is not a significant component of current assets, which is consistent with an asset-light model. However, if the company continues to generate negative FCF, the liquidity position could deteriorate, especially if debt obligations require refinancing.
EV/EBITDA Misleads in Loss-Making Growth
EV/EBITDA of 18.47 appears reasonable, but with negative net income and volatile EBITDA, this multiple may understate the company's true valuation risk, as reported in the latest financials.
The EV/EBITDA multiple is often used to value companies, but for TIC, EBITDA is likely distorted by large non-cash charges like stock-based compensation and D&A, which totaled $119.3M and $24.2M in 2026Q2, respectively. The negative P/E of -16.69 and the thin operating margins suggest that EBITDA may not be a reliable proxy for cash earnings. A more appropriate metric would be EV/Revenue or EV/FCF, but given the negative FCF, investors should focus on the sustainability of revenue growth and the path to profitability rather than a single multiple.