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Tutor Perini
(NYSE:TPC)
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Rating:74Outperform
Price Target:
$95.00
▲(9.48% Upside)
Action:Reiterated
Date:08/06/26
Overall score reflects a strong operational and cash-flow recovery supported by very positive, guidance-raising earnings-call commentary. The main offset is expensive valuation (high P/E with modest yield), with technicals moderately supportive given a positive trend and balanced momentum.
Positive Factors
Strong cash generation
Consistent, sizable operating and free cash flow in 2025 and TTM indicates the company converts project earnings into cash effectively. Durable cash generation supports capex, dividends, buybacks, and bid capacity for large contracts, improving financial flexibility across project cycles.
Negative Factors
Thin and volatile margins
Persistently thin margins reduce the firm's buffer against cost overruns and project delays. Historical swings from profit to loss show earnings sensitivity to execution and market cycles, making durable profitability dependent on sustaining cost control and higher‑margin project mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, sizable operating and free cash flow in 2025 and TTM indicates the company converts project earnings into cash effectively. Durable cash generation supports capex, dividends, buybacks, and bid capacity for large contracts, improving financial flexibility across project cycles.
Read all positive factors
Tutor Perini (TPC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.41B
Dividend Yield0.21%
Average Volume (3M)890.91K
Price to Earnings (P/E)56.3
Beta (1Y)1.54
Revenue Growth25.67%
EPS GrowthN/A
CountryUS
Employees7,400
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.36
Shares Outstanding52,614,704
10 Day Avg. Volume1,499,321
30 Day Avg. Volume890,914
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)2.90
Price to Sales (P/S)0.64
P/FCF Ratio6.23
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$112.50Price Target Upside29.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.91
Revenue Forecast (FY)$6.31B
Tutor Perini Business Overview & Revenue Model
Company Description
Tutor Perini Corporation, a long-standing construction firm founded in 1894 and based in Sylmar, California (which operated as Perini Corporation until 2009), offers a comprehensive suite of general contracting, construction management, and design...
How the Company Makes Money
Tutor Perini makes money primarily by earning contract revenue from constructing and managing projects for public-sector agencies and private owners. Its core revenue model is project-based: it bids for and wins construction contracts and then rec...
Tutor Perini Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveys strong positive momentum: record revenue, record operating income, significant operating cash generation, margin expansion across all segments, a strengthened balance sheet via refinancing and net cash position, an enlarged opportunity pipeline, and a raised EPS outlook. Near-term risks consist of reliance on many early-stage mega projects (execution/timing risk), a Specialty segment still below target margins, modest sequential backlog growth relative to strong revenue, and one-time refinancing/legacy items that could cause episodic variability. On balance, the positive financial performance, improved liquidity and strategic actions outweigh the noted risks.Positive Updates
Record Revenue and Top-Line Growth
Second quarter revenue of $1.6 billion, up 19% year-over-year, driven by increased execution on large projects in New York, California, Hawaii and the Indo-Pacific.
Negative Updates
Specialty Segment Still Below Target Margin Levels
Although Specialty Contractors improved to a 2.2% operating margin (from -10.2% a year ago), it remains below the company long-term target (5%-8%) and delivered only $6 million of operating income this quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Top-Line Growth
Second quarter revenue of $1.6 billion, up 19% year-over-year, driven by increased execution on large projects in New York, California, Hawaii and the Indo-Pacific.
Read all positive updates
Company Guidance
Management raised 2026 adjusted EPS guidance to $5.15–$5.45 (from $4.90–$5.30), reiterated expectations for double‑digit revenue growth in 2026 and even higher earnings in 2027, and said they expect strong operating cash generation in H2 and beyond; segment guidance/targets include Civil margins ~12%–15% (Q2: 15.3%), Building 3%–6% (Q2: 5.6%, aiming toward the upper end) and Specialty long‑term 5%–8%. Updated 2026 assumptions: G&A $380–$400M; depreciation & amortization ≈$45M (depr. $43M, amort. $2M); interest expense $42–$44M (≈$3M non‑cash); effective tax rate ~26%–29%; non‑controlling interest $70–$80M; ~54M diluted shares; CapEx $125–$135M (≈$75–$85M owner funded). Management also cited backlog near $19.9B, a $200B+ pipeline of opportunities, $1.7B of new awards (book‑to‑burn ~1x), nine mega projects (~$16B combined), cash available $424M, cash > debt by $542M, a $0.09 quarterly dividend (up 50%) and $170M remaining on the $200M repurchase program.Tutor Perini Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.95B | 5.54B | 4.33B | 3.88B | 3.79B | 4.64B |
| Gross Profit | 683.03M | 647.51M | 197.04M | 140.62M | 29.61M | 466.39M |
| EBITDA | 302.87M | 309.29M | -34.75M | -54.03M | -135.28M | 345.50M |
| Net Income | 123.91M | 80.44M | -163.72M | -171.16M | -210.01M | 91.92M |
Balance Sheet | ||||||
| Total Assets | 5.36B | 5.16B | 4.24B | 4.43B | 4.54B | 4.72B |
| Cash, Cash Equivalents and Short-Term Investments | 1.21B | 999.15M | 455.08M | 380.56M | 259.35M | 202.20M |
| Total Debt | 464.86M | 470.92M | 534.14M | 899.75M | 958.44M | 993.65M |
| Total Liabilities | 4.03B | 3.90B | 3.08B | 3.15B | 3.10B | 3.05B |
| Stockholders Equity | 1.27B | 1.22B | 1.13B | 1.29B | 1.45B | 1.65B |
Cash Flow | ||||||
| Free Cash Flow | 750.20M | 567.21M | 466.13M | 255.52M | 147.19M | -187.05M |
| Operating Cash Flow | 943.78M | 748.07M | 503.54M | 308.47M | 206.97M | -148.45M |
| Investing Cash Flow | -320.10M | -249.69M | -40.69M | -78.25M | -65.64M | -37.34M |
| Financing Cash Flow | -169.01M | -192.36M | -393.35M | -109.38M | -78.90M | -54.66M |
Tutor Perini Technical Analysis
Positive
86.77
Price Trends
78.84
Positive
79.88
Positive
75.70
Positive
Market Momentum
2.51
Negative
68.69
Neutral
73.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TPC, the sentiment is Positive. The current price of 86.77 is above the 20-day moving average (MA) of 82.86, above the 50-day MA of 78.84, and above the 200-day MA of 75.70, indicating a bullish trend. The MACD of 2.51 indicates Negative momentum. The RSI at 68.69 is Neutral, neither overbought nor oversold. The STOCH value of 73.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TPC.
Tutor Perini Risk Analysis
Tutor Perini disclosed 26 risk factors in its most recent earnings report. Tutor Perini reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tutor Perini Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $4.41B | 56.25 | 12.76% | 0.21% | 25.67% | ― | |
73 Outperform | $8.00B | 49.05 | 36.89% | 0.35% | 14.47% | 57.43% | |
66 Neutral | $5.19B | 31.35 | 24.17% | ― | 16.06% | 121.28% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $470.08M | 43.31 | 4.14% | ― | 13.27% | 297.82% | |
58 Neutral | $5.29B | -32.00 | -16.01% | 0.42% | 21.80% | -204.13% | |
51 Neutral | $7.01B | 24.35 | 8.12% | ― | -8.32% | -87.53% |
* Industrials Sector Average
TPC
Tutor Perini
95.77
40.84
74.34%
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Tutor Perini Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Tutor Perini Refinances Debt and Expands Credit Facility
Positive
Jul 6, 2026
On July 2, 2026, Tutor Perini completed a $400 million offering of 6.625% Senior Notes due 2033, using the proceeds and cash on hand to redeem an equal amount of its higher-cost 11.875% Senior Notes due 2029, including related premiums and interes...
Executive/Board ChangesShareholder Meetings
Tutor Perini Shareholders Back Board, Pay and Auditor
Positive
May 26, 2026
At its Annual Meeting, Tutor Perini shareholders elected 10 directors, including Chairman and CEO Ronald N. Tutor, to serve until the 2027 Annual Meeting, signaling continuity in the company’s leadership and governance structure. Shareholder...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.