TIC Solutions, Inc. (TIC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+21.0%

$12.28

vs $10.15 price

Levered DCF

$0.87

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.15

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022
P/E	-16.85×	-12×	-9.6×	3.01×
P/B	0.73×	1.27×	0.16×	0×
P/S	1.03×	1.33×	0.06×	0.06×
EV / EBITDA	17.03×	24.47×	4.67×	0×
Gross margin	29.4%	24.2%	22.8%	21.9%
Operating margin	0.6%	-4.3%	5.2%	3.7%
Net margin	-5.7%	-11.0%	-0.6%	2.2%
Current ratio	3.2×	3.71×	2.96×	0×
Debt / equity	0.79×	0.71×	1.91×	0×
Interest coverage	0.1×	-0.67×	0.91×	1.44×
Dividend yield	0.0%	0.0%	248.8%	0.0%
Payout ratio	0.0%	0.0%	-2385.1%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022
Return on equity	-4.0%	-10.5%	-1.6%	0.0%
Return on invested capital	0.2%	-2.2%	4.6%	0.0%
Return on assets	-2.0%	-5.5%	-0.5%	0.0%
Free cash flow yield	3.9%	-0.3%	122.2%	28.0%
Earnings yield	-5.5%	-8.3%	-10.4%	33.2%
Enterprise value	$2.9B	$2.1B	$703.2M	$0
Net debt / EBITDA	7.59×	7.73×	4.27×	0×
Cash conversion cycle (days)	104	71	66	0