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The financial statements presented in this Annual Report are the consolidated financial statements of TETRA Technologies, Inc., a Delaware corporation and its subsidiaries. When the terms TETRA, the Company, we, us, or our are used in this document, those terms refer to TETRA Technologies, Inc. and its consolidated subsidiaries.
Operating margin is thin at 8.78%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 5.3%, steady but not accelerating.
ROIC dropped from 9.60% to 6.68%, capital efficiency is deteriorating. Net debt of $158M represents 8.1x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$630M
▲ +5.3% YoY
Net Income (TTM)
$7M
▼ -97.2% YoY
Op. Margin
4.02%
▲ +0.5pp YoY
ROIC
3.91%
▼ -2.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$3M
▲ +180.9% YoY
Op. Cash Flow (TTM)
$85M
▲ +174.8% YoY
Net Debt
$189M
Cash & Equiv.
$35M
5Y CAGR: +10.8%
5Y CAGR: -16.3%
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