TTEC Holdings (TTEC) AI Stock Analysis

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TTEC Holdings

(NASDAQ:TTEC)

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Rating:54Neutral

Price Target:$3.00▲(1.35% Upside)

Action:reiterated

Date:11/13/26

The score is held down primarily by weak financial performance (ongoing losses, declining revenue, and high leverage with a thin equity cushion). Partially offsetting this are improving cash flow and a constructive earnings-call outlook with profitability gains and debt reduction. Technicals are supportive (price above key moving averages and positive MACD) but appear overextended due to a high RSI, while valuation is difficult to assess given the negative P/E and no dividend yield provided.

Positive Factors

Improving cash generation and debt reductionImproved free cash flow provides internally generated funding for operations and debt service, while declining net debt can gradually reduce financial strain. If maintained, this combination strengthens liquidity, supports covenant management, and improves TTEC’s ability to invest without relying as heavily on external capital.

Negative Factors

Persistent revenue contractionContinued contraction in consolidated and Engage revenue signals that the company is still losing scale in its largest operating area. Lower volume can weaken utilization, limit operating leverage, and make it harder for improving margins and cash flow to become durable without a sustained recovery in client demand.

TTEC Holdings (TTEC) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $146.17M
Dividend Yield: ―
Average Volume (3M): 849.02K
Price to Earnings (P/E): -0.7
Beta (1Y): 1.32
Revenue Growth: -5.56%
EPS Growth: -1011.64%
Country: US
Employees: 48,400
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

TTEC Holdings Business Overview & Revenue Model

Company Description

TTEC Holdings, Inc. is a global leader in customer experience (CX) technology and services, dedicated to designing, building, and delivering advanced, digitally-enabled customer interactions for brands worldwide. The company operates through two main...

How the Company Makes Money

TTEC primarily makes money by selling customer experience services to enterprise and public-sector clients under outsourcing and professional-services arrangements. A major revenue stream comes from operating outsourced customer engagement and custom...

TTEC Holdings Earnings Call Summary

Earnings Call Date:Nov 09, 2026(Q3-2026)|% Change Since:112.19%|Next Earnings Date:Mar 04, 2027

Earnings Call SentimentPositive

The call was broadly positive. Management reported substantial improvement in profitability, free cash flow, debt reduction, Engage margins, client signings, and Digital growth practices, while reiterating the full-year outlook and noting progress on the credit facility extension and TTEC Digital strategic review. These positives were partly offset by a 5.2% consolidated revenue decline, a 6.8% Engage revenue decline, a lower Engage backlog ratio, guidance expected in the low to midrange for adjusted EBITDA and operating income, elevated leverage, and acknowledged challenges around AI adoption and the return to historical margins and growth.

Positive Updates

Improved EBITDA, Operating Income, and EPS

Third-quarter revenue was $492 million, while adjusted EBITDA increased 18.7% year over year to $51 million, or 10.5% of revenue, up 210 basis points from 8.4%. Operating income increased 29.2% to $37 million, or 7.6% of revenue, up 200 basis points, and EPS increased 84% to $0.22 from $0.12.

Negative Updates

Consolidated Revenue Decline

Third-quarter consolidated revenue decreased 5.2% year over year to $492 million from $519 million.

Company Guidance

Management reiterated full year 2026 guidance for Engage, forecasting adjusted EBITDA and operating income to come in between the low and midrange of guidance, with Engage margins further improving in the fourth quarter and fourth quarter profitability growth compared to strong fourth quarter 2025 results. Engage revenue decline is leveling off from the first half of 2026, with the trend expected to continue throughout the second half of the year, while the Engage backlog is $1.52 billion or 99% of full year 2026 revenue guidance at the midpoint of the range, and Digital backlog is $424 million or 99% of 2026 revenue guidance at the midpoint of the range. Digital has remained on track with its initial 2026 guidance, and management is confident it will deliver full year results in line with expectations, establishing a solid foundation for both top and bottom line improvement in 2027 and returning to historical top line growth and margins.

TTEC Holdings Financial Statement Overview

Summary

Fundamentals are pressured: revenue has been declining and the company is still reporting sizable net losses with gross margin compression. The balance sheet is a major risk due to very high leverage and a sharply reduced equity cushion, limiting flexibility. Offsetting this, operating cash flow and free cash flow turned positive in 2025 and TTM and improved meaningfully, indicating some operational stabilization.

Income Statement

28Negative

Balance Sheet

18Very Negative

Cash Flow

56Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.01B	2.14B	2.21B	2.46B	2.44B	2.27B
Gross Profit	421.45M	466.21M	471.72M	529.94M	587.19M	568.95M
EBITDA	-27.25M	-8.77M	-54.25M	220.32M	301.21M	316.97M
Net Income	-200.51M	-192.47M	-320.96M	8.43M	103.24M	140.97M
Balance Sheet
Total Assets	1.35B	1.50B	1.75B	2.19B	2.15B	2.00B
Cash, Cash Equivalents and Short-Term Investments	91.09M	82.90M	84.99M	172.75M	153.44M	158.21M
Total Debt	900.43M	1.00B	1.08B	1.13B	1.06B	899.88M
Total Liabilities	1.27B	1.39B	1.49B	1.57B	1.52B	1.40B
Stockholders Equity	66.82M	95.07M	250.25M	598.63M	559.91M	522.21M
Cash Flow
Free Cash Flow	78.48M	81.53M	-103.99M	76.93M	53.04M	190.94M
Operating Cash Flow	118.32M	119.64M	-58.82M	144.76M	137.05M	251.30M
Investing Cash Flow	-40.14M	-41.82M	477.00K	-67.58M	-226.20M	-541.98M
Financing Cash Flow	-60.94M	-73.67M	-38.30M	-68.23M	89.04M	319.64M

TTEC Holdings Technical Analysis

Technical Analysis SentimentPositive

Last Price2.96

Price Trends

50DMA1.49Positive

100DMA1.73Positive

200DMA2.18Positive

Market Momentum

MACD0.23Negative

RSI84.02Negative

STOCH88.32Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTEC, the sentiment is Positive. The current price of 2.96 is above the 20-day moving average (MA) of 1.68, above the 50-day MA of 1.49, and above the 200-day MA of 2.18, indicating a bullish trend. The MACD of 0.23 indicates Negative momentum. The RSI at 84.02 is Negative, neither overbought nor oversold. The STOCH value of 88.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TTEC.

TTEC Holdings Risk Analysis

TTEC Holdings disclosed 48 risk factors in its most recent earnings report. TTEC Holdings 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

3 New Risks

1.We may change our state of incorporation from Delaware to another jurisdiction, which could affect our stockholders' rights and the market perception of our common stockQ4, 2025

2.Our remote service delivery model exposes us to identity verification, compliance, cybersecurity, and operational risks that could harm our businessQ4, 2025

3.Use of AI in operations introduces risks that could materially affect our business and reputationQ4, 2025

TTEC Holdings Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TTEC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
G	78Outperform	$7.29B	12.43	22.77%	1.70%	7.00%	9.97%
DLB	76Outperform	$6.06B	27.14	8.68%	2.23%	0.55%	-13.85%
EPAM	70Outperform	$8.31B	20.44	11.96%	―	6.62%	21.72%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CNXC	57Neutral	$2.00B	-0.82	-95.60%	4.54%	2.56%	-918.98%
TTEC	54Neutral	$131.85M	-0.70	-252.53%	―	-5.56%	-1011.64%

* Technology Sector Average

Performance Comparison

TTEC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TTEC	TTEC Holdings, Inc.	2.96	0.11	3.86%
DLB	Dolby Laboratories	64.59	0.51	0.80%
EPAM	Epam Systems	163.83	-15.19	-8.49%
G	Genpact	43.13	-0.88	-2.00%
CNXC	Concentrix Corporation	31.97	-1.57	-4.68%

TTEC Holdings Corporate Events

Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance

TTEC Holdings Updates Credit Agreement, Adjusts Revolving Commitments

Neutral

Oct 7, 2026

On October 1, 2026, TTEC Holdings, Inc. and its lenders executed a twelfth amendment to the company’s long-standing credit agreement, reducing aggregate revolving credit commitments by $15 million to $960 million and capping total revolving loans, sw...

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.

Date of analysis: Nov 13, 2026

TTEC Holdings AI Stock Analysis