TETRA Technologies

TTI

Oil & Gas Equipment & Services · Energy

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Good

Stability

Good

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

TETRA Technologies is an oil and gas services company that helps energy companies drill and complete oil and gas wells. Its main products include specialty completion fluids — dense liquids used to control pressure during well completion — along with water management services. TETRA also owns a stake in a business that produces industrial chemicals, including calcium chloride used for road de-icing and dust control.

The company earns revenue by selling these fluids and chemicals and by providing services to oil and gas producers, primarily in North America but also in international offshore markets. TETRA is a relatively small player in the oilfield services industry, but it holds a strong position in the niche completion fluids market where technical expertise and product quality create some switching costs. Its main risk is that revenue depends heavily on oil and gas drilling activity, which rises and falls with commodity prices — meaning a prolonged drop in oil prices could significantly reduce demand for its services.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-17.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

6.1%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$166M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

TETRA Technologies is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

24.6%

Thin — 24.6% gross margin

Profit after running costs

Operating Margin

10.8%

Modest — 10.8% operating margin

Return on the money invested

ROCE

8.5%

Below par — 8.5% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+5.7%

Slow sales growth (+5.7% YoY)

Profit growth

EPS YoY

-93.9%

Earnings shrinking (-93.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

1138%

Turns 1138% of profit into real cash

Spare cash per sale

FCF Margin

-2.4%

Burning cash (-2.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.45

Conservative — low debt load (0.45)

Covers its interest

Interest Cover

3.36x

Tight — interest eats into profit (3.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

135.7x

no trend

Expensive — P/E 135.7

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+111.0

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (135.7 → 24.6)

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Dividends

Dividend

Dividend Yield

2.67%

no trend

Moderate income — 2.67% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

N/A

no trend

Data not available

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