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Tetra Technologies
(NYSE:TTI)
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Rating:59Neutral
Price Target:
$6.50
▼(-3.99% Downside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by mixed financial performance: improved balance-sheet strength and strong revenue momentum are offset by thin/volatile profitability and negative TTM free cash flow. Technicals are a notable drag with the stock trading below major moving averages and negative MACD. Earnings-call commentary and recent project/funding milestones are supportive, but valuation is pressured by a very high P/E and no dividend support.
Positive Factors
Improved Balance Sheet
Material deleveraging and a debt-to-equity ratio below 1.0 give TETRA greater financial flexibility than in 2021–2023. A stronger capital structure can support project investment, reduce balance-sheet strain, and improve resilience through changes in oilfield activity.
Negative Factors
Thin and Volatile Profitability
Very thin net margins and large year-to-year earnings swings reduce confidence that current revenue growth will consistently translate into shareholder returns. This volatility leaves profitability more exposed to project mix, operating costs, and changes in completion activity over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Balance Sheet
Material deleveraging and a debt-to-equity ratio below 1.0 give TETRA greater financial flexibility than in 2021–2023. A stronger capital structure can support project investment, reduce balance-sheet strain, and improve resilience through changes in oilfield activity.
Read all positive factors
Tetra Technologies (TTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$900.28M
Dividend Yield5.64%
Average Volume (3M)1.84M
Price to Earnings (P/E)114.7
Beta (1Y)1.35
Revenue Growth5.70%
EPS Growth-95.02%
CountryUS
Employees1,400
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.05
Shares Outstanding148,072,780
10 Day Avg. Volume1,824,943
30 Day Avg. Volume1,838,004
Financial Highlights & Ratios
PEG Ratio-4.26
Price to Book (P/B)4.40
Price to Sales (P/S)1.98
P/FCF Ratio63.88
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
$11.50Price Target Upside69.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.26
Revenue Forecast (FY)$663.08M
Tetra Technologies Business Overview & Revenue Model
Company Description
TETRA Technologies, Inc. (TTI) is a diversified enterprise that delivers a range of services to the oil and gas industry. The company organizes its operations into two primary divisions: Completion Fluids & Products, and Water & Flowback Services....
How the Company Makes Money
TTI makes money primarily by selling products and services to oil and gas operators (and, in some cases, to service companies working on behalf of operators) that are required to drill, complete, and manage wells.
Key revenue streams include:
1) ...
Tetra Technologies Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call emphasized multiple tangible commercial and strategic achievements — strong sequential revenue and EBITDA improvement, record international/offshore results, product launches (Neptune Z‑Lite), FID and funding for an Arkansas bromine plant, progress on Oasis desalination and growing electrolyte demand — while also acknowledging headwinds: YoY EBITDA and margin comparisons affected by lumpy Neptune project timing, Middle East conflict delaying shipments, higher third‑party bromine costs and permitting risks for Oasis. On balance, the company reported solid operational execution, healthy cash generation, improved leverage and a clear path to long‑term growth, albeit with near‑term timing and geopolitical uncertainties.Positive Updates
Sequential and Year-over-Year Revenue Growth
Consolidated Q2 revenue of $185.7M, up 19% sequentially and up 7% year‑over‑year.
Negative Updates
Year‑over‑Year Margin and EBITDA Decline
Adjusted EBITDA of $31.9M was down from $36.2M in Q2 2025 (approximately a 12% YoY decline); consolidated adjusted EBITDA margin fell from 20.8% in Q2 2025 to 17.2% in Q2 2026, driven in part by absence of a large Neptune project that boosted prior‑year results.
Read all updates
Q2-2026 Updates
Positive
Negative
Sequential and Year-over-Year Revenue Growth
Consolidated Q2 revenue of $185.7M, up 19% sequentially and up 7% year‑over‑year.
Read all positive updates
Company Guidance
Management guided that the “base business” (completion fluids, Water & Flowback and electrolyte sales) is expected to perform in line with market expectations for the remainder of 2026, while timing of planned Neptune jobs could materially affect H2‑2026; they expect the first of three TETRA Neptune Z‑Lite wells to be executed in 2026, reiterated an ~8% CAGR Deepwater growth assumption from their Investor Day through 2030, and confirmed the Arkansas bromine FID (funded in part by ~ $108 million of net equity proceeds) with completion targeted Q4‑2027 and start‑up in early‑2028 to materially lower bromine cost and expand supply; Eos is on track for 4 GWh capacity by year‑end into 2027 (with a stated 8 GWh objective before 2030); segment margin guidance for Completion Fluids remains ~25–30%; and balance‑sheet/near‑term metrics supporting the plan include Q2 revenue $185.7M (+19% sequential, +7% YoY), adjusted EBITDA $31.9M (17.2% margin, +24% sequential), cash $154.6M, total debt $183.3M, net debt $28.7M and net leverage 0.4x, with management noting the Middle East conflict adds some market unpredictability.Tetra Technologies Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
51
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 641.83M | 630.93M | 599.11M | 626.26M | 553.21M | 388.27M |
| Gross Profit | 152.29M | 160.11M | 139.96M | 141.64M | 113.53M | 59.82M |
| EBITDA | 81.87M | 80.93M | 86.93M | 88.38M | 59.82M | 35.16M |
| Net Income | 6.21M | 3.00M | 108.28M | 25.78M | 7.84M | -16.80M |
Balance Sheet | ||||||
| Total Assets | 800.11M | 785.19M | 718.58M | 499.52M | 457.59M | 398.27M |
| Cash, Cash Equivalents and Short-Term Investments | 154.58M | 44.99M | 37.21M | 52.48M | 13.59M | 31.55M |
| Total Debt | 223.84M | 263.12M | 221.39M | 196.80M | 194.15M | 191.47M |
| Total Liabilities | 393.59M | 502.70M | 465.28M | 352.19M | 351.19M | 299.70M |
| Stockholders Equity | 407.80M | 283.75M | 254.57M | 148.59M | 107.63M | 99.70M |
Cash Flow | ||||||
| Free Cash Flow | -15.09M | 19.54M | -24.16M | 32.05M | -21.10M | -15.88M |
| Operating Cash Flow | 70.62M | 100.36M | 36.52M | 70.21M | 18.96M | 4.66M |
| Investing Cash Flow | -85.27M | -61.37M | -59.06M | -27.03M | -36.50M | -5.17M |
| Financing Cash Flow | 100.96M | -5.37M | 8.87M | -4.66M | 40.00K | -50.05M |
Tetra Technologies Technical Analysis
Negative
6.77
Price Trends
7.76
Negative
8.94
Negative
9.26
Negative
Market Momentum
-0.44
Positive
29.90
Positive
4.73
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTI, the sentiment is Negative. The current price of 6.77 is above the 20-day moving average (MA) of 6.73, below the 50-day MA of 7.76, and below the 200-day MA of 9.26, indicating a bearish trend. The MACD of -0.44 indicates Positive momentum. The RSI at 29.90 is Positive, neither overbought nor oversold. The STOCH value of 4.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TTI.
Tetra Technologies Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $516.20M | 20.09 | 9.03% | 0.36% | 0.35% | -9.40% | |
59 Neutral | $900.28M | 114.72 | 1.95% | 5.64% | 5.70% | -95.02% | |
56 Neutral | $1.29B | -92.74 | -1.49% | ― | -15.14% | 92.26% | |
55 Neutral | $1.30B | 58.89 | 2.07% | 2.73% | 25.36% | -59.73% | |
48 Neutral | $941.57M | -2.11 | -56.47% | ― | -16.18% | -32.58% |
* Energy Sector Average
TTI
Tetra Technologies
6.08
0.64
11.76%
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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.