TPC TUTOR PERINI CORP

Overview and Growth

TUTOR PERINI CORP generated $5.54B of revenue in fiscal 2025, with net income of $80.44M and an operating cash inflow of $748.07M. Revenue of $5.54B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 28.1% above fiscal 2024 revenue of $4.33B, marking a year-over-year increase. On a per-share basis, diluted EPS was $1.51, which connects the reported earnings outcome with the company’s diluted share count. Asset turnover was 1.07x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $647.51M as gross profit before recognizing operating expenses and other items. Gross profit represented 11.7% of revenue, showing how much of the top line remained after direct costs. The reported operating result was $231.96M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 4.2%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $80.44M for the fiscal year. Net margin was 1.5%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $204.51M of earnings, providing a bridge between the operating result and final net income. Measured against revenue, pretax income equaled 3.7%, adding a pre-tax profitability layer between revenue and net income. The company recognized $61.43M of income tax for the period, completing the transition from pretax income to net income. The income-tax provision equaled 30.0% of pretax income, showing the tax burden absorbed by the year’s earnings.

Liquidity and Capital Structure

At period end, the $5.16B asset base was financed through $3.90B of liabilities and $1.26B of equity. The near-term balance sheet paired $4.12B of current assets with $3.24B of current liabilities at the reporting date. At 1.27x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $734.55M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 22.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $407.37M of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 0.32x, showing how much debt the company carried for each unit of book equity. Debt represented 7.9% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 75.5%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 14.2% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 21.6% from $4.24B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

The company reported $748.07M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 9.3x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $180.85M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 24.2%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $567.21M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 10.2%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 11.0%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.