TIC - TIC Solutions, Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$11.25
DETAILS
HIGH:
$11.50
LOW:
$11.00
MEDIAN:
$11.25
CONSENSUS:
$11.25
UPSIDE:
32.04%
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | ||||
| Revenue | 1,530.3 | 1,097.4 | 1,050.1 | 928.3 |
| Cost of Revenue | 1,080.9 | 831.7 | 810.5 | 725.4 |
| Gross Profit | 449.4 | 265.7 | 239.5 | 203.0 |
| Operating Expenses | ||||
| R&D Expenses | 0 | 0 | 0 | 0 |
| SG&A Expenses | 440.8 | 0 | 185.0 | 168.2 |
| Other Expenses | 0 | 312.9 | 0 | 0 |
| Operating Expenses | 440.8 | 312.9 | 185.0 | 168.2 |
| Operating Income | ||||
| Operating Income | 8.5 | (47.2) | 54.5 | 34.7 |
| Interest Expense | 87.6 | 70.4 | 60.0 | 24.2 |
| Interest Income | 0 | 0 | 1.2 | 12.9 |
| Profitability | ||||
| EBITDA | 186.9 | 87.1 | 150.6 | 134.0 |
| EBIT | 8.5 | (6.0) | 55.7 | 47.6 |
| Income Before Tax | (98.2) | (123.2) | (4.3) | 23.5 |
| Income Tax Expense | (11.1) | (2.0) | 2.0 | 3.4 |
| Net Income | (87.1) | (121.2) | (6.3) | 20.0 |
| Per Share Data | ||||
| EPS (Basic) | -0.60 | -1.00 | -1.25 | 3.99 |
| EPS (Diluted) | -0.59 | -1.00 | -1.25 | 3.93 |
| Shares Outstanding | 156.6 | 121.5 | 5.0 | 5.0 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 439.5 | 139.1 | 87.1 |
| Short-Term Investments | 0 | 0 | 0 |
| Net Receivables | 520.7 | 236.5 | 233.2 |
| Inventory | 0 | 0 | 0 |
| Other Current Assets | 60.8 | 18.6 | 13.6 |
| Total Current Assets | 1,021.0 | 394.2 | 333.9 |
| Non-Current Assets | |||
| Property, Plant & Equipment | 315.8 | 219.2 | 134.7 |
| Goodwill | 1,649.6 | 845.9 | 511.5 |
| Intangible Assets | 1,391.4 | 740.7 | 264.3 |
| Long-Term Investments | 0 | 0 | 0 |
| Other Non-Current Assets | 17.0 | 7.7 | 18.2 |
| Total Non-Current Assets | 3,375.3 | 1,813.5 | 928.7 |
| Total Assets | 4,396.3 | 2,207.7 | 1,262.6 |
| Current Liabilities | |||
| Account Payables | 60.4 | 18.0 | 32.8 |
| Short-Term Debt | 59.1 | 7.8 | 7.3 |
| Deferred Revenue | 0 | 0 | 0 |
| Other Current Liabilities | 194.8 | 0 | 0 |
| Total Current Liabilities | 319.0 | 106.3 | 112.9 |
| Non-Current Liabilities | |||
| Long-Term Debt | 1,587.7 | 747.0 | 668.0 |
| Deferred Tax Liabilities | 223.0 | 150.7 | 35.3 |
| Other Non-Current Liabilities | 20.7 | 11.8 | 26.3 |
| Total Non-Current Liabilities | 1,897.4 | 950.2 | 767.7 |
| Total Liabilities | 2,216.4 | 1,056.6 | 880.6 |
| Stockholders' Equity | |||
| Common Stock | 0.0 | 0.0 | 0.1 |
| Retained Earnings | (194.1) | (107.0) | 17.4 |
| Accumulated Other Comprehensive Income | 11.1 | (35.5) | (0.8) |
| Total Stockholders' Equity | 2,179.9 | 1,151.2 | 382.0 |
| Total Liabilities & Equity | 4,396.3 | 2,207.7 | 1,262.6 |
| Debt Metrics | |||
| Total Debt | 1,712.8 | 812.6 | 730.0 |
| Net Debt | 1,273.3 | 673.4 | 642.9 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | (87.1) | (121.2) | (6.3) | 20.0 |
| Depreciation & Amortization | 178.3 | 93.1 | 94.8 | 86.4 |
| Stock-Based Compensation | 17.2 | 0 | 5.0 | 2.6 |
| Change in Working Capital | (5.3) | (36.1) | 3.6 | (39.9) |
| Other Non-Cash Items | 24.9 | 109.6 | 22.1 | (8.8) |
| Operating Cash Flow | 95.0 | 23.1 | 95.8 | 40.0 |
| Investing Activities | ||||
| Capital Expenditure | (33.8) | (27.6) | (22.1) | (23.1) |
| Acquisitions | (845.0) | (1,865.1) | (6.0) | (45.6) |
| Purchases of Investments | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 |
| Other Investing Activities | 4.7 | 0 | 1.6 | 1.0 |
| Investing Cash Flow | (874.1) | (1,892.6) | (26.5) | (67.7) |
| Financing Activities | ||||
| Net Debt Issuance | 825.3 | 755.5 | 103.7 | 36.8 |
| Stock Repurchased | 0 | 0 | 0 | (0.8) |
| Dividends Paid | 0 | 0 | (150) | 0 |
| Other Financing Activities | 0 | 0 | (2.8) | (0.1) |
| Financing Cash Flow | 1,075.7 | 1,422.2 | (49.2) | 36.0 |
| Cash Position | ||||
| Net Change in Cash | 300.4 | 136.5 | 24.5 | 2.6 |
| Cash at Beginning | 139.1 | 2.7 | 62.6 | 59.9 |
| Cash at End | 439.5 | 139.1 | 87.1 | 62.6 |
| Free Cash Flow | 61.3 | (4.5) | 73.7 | 16.9 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 1,530.3 | 1,097.4 | 1,050.1 | 928.3 |
| Gross Profit | 449.4 | 265.7 | 239.5 | 203.0 |
| Operating Income | 8.5 | (47.2) | 54.5 | 34.7 |
| Net Income | (87.1) | (121.2) | (6.3) | 20.0 |
| EPS (Diluted) | -0.59 | -1.00 | -1.25 | 3.93 |
| Balance Sheet | ||||
| Cash & Equivalents | 439.5 | 139.1 | 87.1 | |
| Total Assets | 4,396.3 | 2,207.7 | 1,262.6 | |
| Total Debt | 1,712.8 | 812.6 | 730.0 | |
| Stockholders' Equity | 2,179.9 | 1,151.2 | 382.0 | |
| Cash Flow | ||||
| Operating Cash Flow | 95.0 | 23.1 | 95.8 | 40.0 |
| Capital Expenditure | (33.8) | (27.6) | (22.1) | (23.1) |
| Free Cash Flow | 61.3 | (4.5) | 73.7 | 16.9 |