Tetra Technologies IncTetra Technologies Inc
Tetra Technologies Inc

Tetra Technologies Inc

TTI
Energy·Energy Equipment & Services

TETRA Technologies, Inc. is an energy services and solutions company, which focuses on developing environmentally conscious services and solutions that help make people’s lives better. It operates through the Completion Fluids and Products Division, and Water and Flowback Services Division segments. The Completion Fluids and Products Division segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry. The Water and Flowback Services Division segment offers onshore oil and gas operators with comprehensive water management services. The company was founded in 1981 and is headquartered in Spring, TX.

Texas; U.S.A
Market cap
$904.7MNo data
Revenue
$630.9M+5.3% YoY
Net income
$3M−97.2% YoY
Free cash flow
$19.5M+180.9% YoY

Market

Listed stock
TTIPriceNYSE
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Financial performance

Revenue
$630.9M+5.3% YoY
Operating income
$55.4M+160.9% YoY
Net income
$3M−97.2% YoY
Free cash flow
$19.5M+180.9% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $388.3M, 2022 $553.2M, 2023 $626.3M, 2024 $599.1M, 2025 $630.9M. Operating income: 2021 $19.3M, 2022 $19.3M, 2023 $40.4M, 2024 $21.2M, 2025 $55.4M. Net income: 2021 $103.3M, 2022 $7.8M, 2023 $25.8M, 2024 $108.3M, 2025 $3M. Free cash flow: 2021 $-15.9M, 2022 $-21.1M, 2023 $32.1M, 2024 $-24.2M, 2025 $19.5M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
5.3%+965 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $19.3M, 2022-12-31 $19.3M, 2023-12-31 $40.4M, 2024-12-31 $21.2M, 2025-12-31 $55.4M. Net income: 2021-12-31 $103.3M, 2022-12-31 $7.8M, 2023-12-31 $25.8M, 2024-12-31 $108.3M, 2025-12-31 $3M. Free cash flow: 2021-12-31 $-15.9M, 2022-12-31 $-21.1M, 2023-12-31 $32.1M, 2024-12-31 $-24.2M, 2025-12-31 $19.5M

Growth heatmap

2022202320242025CAGR
Revenue
+42.5%
+13.2%
-4.3%
+5.3%
+12.9%
Gross profit
+104.5%
+26.9%
-9.0%
+11.5%
+27.4%
Operating income
-0.1%
+109.0%
-47.4%
+160.9%
+30.1%
Free cash flow
-32.9%
+251.9%
-175.4%
+180.9%
No data

Earnings quality

Operating cash flow
$100.4M+174.8% YoY
Net income
$3M−97.2% YoY
Free cash flow
$19.5M+180.9% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 3340%, 2024-12-31 34%, 2023-12-31 272%, 2022-12-31 242%, 2021-12-31 5%. Free cash flow: 2025-12-31 650%, 2024-12-31 -22%, 2023-12-31 124%, 2022-12-31 -269%, 2021-12-31 -15%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data