TTI
TETRA Technologies, Inc.
TTI's fundamentals are weak and it looks expensive: trading at 106x earnings, about four times its usual 29x. Analysts expect strong earnings growth, though they disagree widely on how much.
TTI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Weak | |
| Healthy |
TTI's balance sheet is currently healthy, and its revenue and profitability are stable, but its cash flow is weak.
TTI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.8x | $0.29 | -95% |
| Forward | 21x | $6.37 | — |
| Fair | 27x | $1.63 | -74% |
| Current | 106x | $6.37 | — |
| Expensive | 183x | $10.95 | +72% |
Historical ranges are pointers, not guarantees.
TTI's PE is in its expensive range at 106x. If earnings grow as analysts expect, today's price would be 21x next year's earnings, in its fair range.
TTI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for TTI, with profitability improving. However, they disagree widely on these estimates.
TTI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.30 | +396% |
| Q3 2026 | $0.06 | -93% |
| Q2 2026 | $0.04 | -95% |
| Q1 2026 | $0.05 | -94% |
| Q4 2025 | $0.02 | -98% |
| Q3 2025 | $0.91 | +4450% |
| Q2 2025 | $0.86 | +975% |
| Q1 2025 | $0.84 | +425% |
| Q4 2024 | $0.82 | +310% |
TTI's earnings per share have fallen from their peak: $0.06 over the past year, against $0.91 in late 2025.
TTI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $168M | +9.6% |
| Q2 2026 | $185.7M | +6.8% |
| Q1 2026 | $156.3M | -0.6% |
| Q4 2025 | $146.7M | +9.1% |
| Q3 2025 | $153.2M | +8.1% |
| Q2 2025 | $173.9M | +1.1% |
| Q1 2025 | $157.1M | +4.1% |
| Q4 2024 | $134.5M | -12% |
TTI's revenue is recovering but still below its 2019 peak: $168M last quarter, up 9.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.8% | -1.5 points |
| Q2 2026 | 11% | -17 points |
| Q1 2026 | 8.2% | -19 points |
| Q4 2025 | 1.7% | -21 points |
| Q3 2025 | 7.3% | -17 points |
| Q2 2025 | 28% | +2.6 points |
| Q1 2025 | 27% | +6.7 points |
| Q4 2024 | 23% | +3.4 points |
TTI's operating margin was 5.8% last quarter, down 1.5 points from the same quarter a year ago.
TTI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$26.6M | -4335% |
| Q2 2026 | $11.1M | -62% |
| Q1 2026 | -$30.9M | -$16.9M |
| Q4 2025 | $4.1M | +$13.3M |
| Q3 2025 | $627K | -88% |
| Q2 2025 | $28.8M | +206% |
| Q1 2025 | -$14M | +$15.6M |
| Q4 2024 | -$9.3M | -184% |
TTI's free cash flow was −$42M over the past year, against $6M the year before.
TTI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +6.2% | +8.7M shares |
| 1 year | +11% | +14.5M shares |
| 3 years | +13% | +17.3M shares |
| 5 years | +16% | +20.7M shares |
| Available history | +19% | +23.8M shares |
TTI has 149M diluted shares, up 11% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2022 | — |
| Q1 2021 | $449,000 |
| Q4 2020 | — |
TTI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 1.3x | Healthy |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.8x | Very low |
TTI's net debt is about 1.2 years of its operating earnings (EBITDA), up from less than a year a year ago.
TTI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.8 | Neutral |
| Stochastic | 28.1 | Neutral |
TTI's weekly RSI is 42 (neutral) and its Stochastic is 28 (neutral).
TTI PE vs Energy Sector
| Metric | TTI | Sector median | Relative |
|---|---|---|---|
| PE | 106x | 13x | 709% above |
| PE % | 77 | 61 | 16 pts above |
TTI is trading at 106x earnings, a 709% premium to the Energy sector's median of 13x.
TTI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.88 | 8.3% above |
| 20 week MA | $7.10 | 10% below |
| 50 week MA | $8.67 | 27% below |
| 100 week MA | $6.49 | 1.8% below |
| 200 week MA | $5.22 | 22% above |
TTI's trend is mixed: it's above two of its five weekly moving averages, and 22% above its 200-week average.
TTI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.89 | $0.88 | -53% |
| 2021 | $0.88 | $2.80 | +218% |
| 2022 | $2.80 | $3.46 | +24% |
| 2023 | $3.46 | $4.52 | +31% |
| 2024 | $4.52 | $3.45 | -24% |
| 2025 | $3.45 | $9.34 | +171% |
| 2026 YTD | $9.34 | $6.37 | -32% |
TTI's yearly returns have swung widely, from +218% in 2021 to −53% in 2020. It's down 32% so far in 2026.