Added to YB: 2026-03-17
Pitch date: 2026-03-13
TIC [neutral]
TIC Solutions, Inc.
+4.83%
current return
Author Info
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Company Info
TIC Solutions, Inc. provides critical asset integrity services in North America. The company offers testing, inspection, certification, and compliance (TICC) services, including various nondestructive testing (NDT) techniques, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection.
Market Cap
$1.6B
Pitch Price
$7.25
Price Target
N/A
Dividend
N/A
EV/EBITDA
13.84
P/E
-13.12
EV/Sales
1.88
Sector
Professional Services
Category
turnaround
Update: TIC Solutions ($TIC) FY 2025 Results
TIC (earnings): FY25 combined rev $2.1B, adj EBITDA $312M (14.8% margin), up 67% YoY. Q4 gross margin 38.8% vs 22-26% legacy Acuren. 2026 guide: $330-355M EBITDA (15-16% margin). CEO Pizzey retiring 3/31, replaced by Heraud (ex-NV5 CEO). I&M flat on Gulf Coast pricing discipline, CE +8% on infra/data centers, GEO +6% at 57% Q4 margin. $1.07B backlog (+10%). Net debt 3.4x, $200M buyback authorized. Integration $7-9M net synergies est 2026 vs $12-13M guide. Cross-sell upside $50-100M potential. Risks: $1.6B floating debt, material weaknesses, CEO transition, federal delays. Re-rating likely 2027-28 as leverage drops to 3.0x.
Read full article (11 min)