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Tech-enabled provider of asset integrity inspection, engineering consulting and geospatial services for industrial infrastructure.
Tech-enabled provider of asset integrity inspection, engineering consulting and geospatial services for industrial infrastructure.
Much of the work is repeat inspection of pipelines, refineries and plants required by regulators and insurers, billed on hours worked or under multi-year master service agreements. Plant maintenance shutdowns create seasonal peaks. The consulting and geospatial lines were added through acquisitions.
In one line: An industrial testing, inspection and certification (TIC) services company.
Moat: narrow (regulatory licence, customer qualification, scale). Compliance-driven, recurring inspection contracts and a large certified technician workforce create barriers to entry.
Employees: 12,760
Size TIC Solutions (TIC) is a United States Industrials company (Miscellaneous Commercial Services) with a market value of $2.26B, the 1716th largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.37 on 6 Nov 2026.
Performance Over six months the shares gained 4.6%, against -3.2% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 39.5% over the last twelve months (peer median +12.3%); the operating margin is -1.0% (peer median 14.7%).
Valuation It trades at 1.8× enterprise value to sales against a peer median of 3.1× (5th cheapest of 20).
Capital Return on invested capital runs 10.5 points below its cost of capital (10.0% WACC).
Backlog Backlog (remaining performance obligations) was $1.30B at 30 Sep 2026, up 30% on a year earlier — 0.6 years of trailing revenue. Backlog detail →
Short interest Short interest is 18.5% of the free float (15 Oct 2026).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | $2.05B | $1.53B | $1.10B | $0 |
| Revenue growth | — | +39% | — | — |
| Gross profit | $532M | $339M | $220M | $0 |
| EBITDA | $220M | $187M | $87.1M | -$1.28M |
| Net income | -$115M | -$86.5M | -$121M | $14.0M |
| Free cash flow | $23.6M | $61.3M | -$4.51M | $8.10M |
| Capital expenditure | $46.5M | $33.8M | $27.6M | $0 |
| Total debt | $1.70B | $1.71B | $813M | $0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| TIC Solutions TIC | $2.26B | +5% | +39% | -1% | 1.8× | 51.8% |
| Bureau Veritas BVI.PA | $14.9B | +13% | +2% | 15% | 2.4× | 7.9% |
| Team 4967.TW | $783M | -7% | +91% | 35% | 0.8× | n/a |
| Mistras MG | $642M | +14% | +5% | 7% | 1.1× | 7.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TIC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.6% | -0.4% | highest of 21 |
| 6-month return | +4.6% | -3.2% | 10th highest of 21 |
| Distance from 52-week high | -12.7% | -28.1% | 2nd highest of 21 |
| Revenue growth (TTM) | +39.5% | +12.3% | 3rd highest of 19 |
| Operating margin | -1.0% | 14.7% | 2nd lowest of 20 |
| EV / Sales | 1.8× | 3.1× | 5th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 51.8% | -1.2% | 2nd most demanding of 16 |
| ROIC minus cost of capital | -10.5 pp | +1.3 pp | 2nd lowest of 19 |
| EV / EBITDA | 16.4× | 11.4× | 3rd most expensive of 10 |
| Net debt / EBITDA | 6.1× | 0.2× | 2nd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TIC Solutions TIC | United States | $2.26B | +5% | +39% | -1% | 1.8× | 51.8% | n/a |
| Suzhou Nanomicro Technology 688690.SS | China | $2.31B | +17% | +26% | 25% | 13.3× | 35.3% | +35.2% |
| Biocytogen Pharmaceuticals (Beijing) 688796.SS | China | $2.22B | -19% | +40% | 24% | 8.9× | 32.3% | +41.1% |
| Sigurd Microelectronics 6257.TW | Taiwan | $2.33B | -19% | +12% | 22% | 3.8× | n/a | n/a |
| China Automotive Engineering Research Institute 601965.SS | China | $2.18B | -8% | +12% | 24% | 3.1× | -5.6% | +7.9% |
| Ardentec 3264.TWO | Taiwan | $2.36B | -30% | +32% | 30% | 4.4× | 5.2% | +7.7% |
| Firstsource Solutions FSL.NS | India | $2.16B | +25% | +20% | 12% | 2.2× | 20.3% | +13.5% |
| Sagility SAGILITY.NS | India | $2.15B | +2% | +28% | 18% | 2.5× | 10.3% | +19.5% |
| V2X VVX | United States | $2.39B | +9% | +13% | 4% | 0.6× | -1.4% | +26.3% |
| Shanghai GenTech 688596.SS | China | $2.42B | +56% | +4% | 2% | 3.5× | n/a | n/a |
| S-1 012750.KS | South Korea | $2.45B | +14% | +1% | 7% | 1.1× | -1.2% | +5.4% |
| KWS SAAT SE & Co KGaA KWS.DE | Germany | $2.48B | -12% | -3% | 15% | 1.4× | -8.2% | +4.4% |
| Visional 4194.T | Japan | $2.51B | +32% | +24% | 25% | 3.1× | -2.4% | +28.2% |
| CECEP Environmental Protection 300140.SZ | China | $2.51B | -18% | -2% | 23% | 4.3× | -1.2% | +26.0% |
| Hui Lyu Ecological Technology Groups 001267.SZ | China | $2.61B | -59% | +90% | 10% | 7.9× | n/a | n/a |
| Anhui XDLK Microsystem 688582.SS | China | $1.95B | -36% | -38% | 21% | 34.3× | 55.7% | +37.0% |
| International Workplace IWG.L | United Kingdom | $2.63B | +12% | 0% | 4% | 2.6× | 33.6% | +3.3% |
| Huron Consulting HURN | United States | $2.63B | +39% | +12% | 12% | 1.9× | -4.0% | +14.3% |
| Heron Neutron Medical 7799.TW | Taiwan | $1.94B | +15% | n/a | -5,071% | 4,711.0× | n/a | n/a |
| Xi'an Taijin New Energy & Materials Sci-Tech 688813.SS | China | $1.93B | -13% | n/a | n/a | n/a | n/a | n/a |
| Jiangsu Guotai International 002091.SZ | China | $1.91B | -11% | +7% | 6% | 0.2× | -20.9% | +5.5% |
TIC Solutions reported $1.30B of remaining performance obligations at 30 Sep 2026, up 30% from a year earlier and up 8% from the previous quarter. That is 0.6 years of trailing revenue already under contract. Book-to-bill last quarter: 1.16.