TTEK Tetra Tech, Inc. - Common Stock
About Tetra Tech, Inc. - Common Stock Company overview from Wikipedia
Tetra Tech, Inc. is an American consulting and engineering services firm based in Pasadena, California. The company provides consulting, engineering, program management, and construction management services in the areas of water, environment, infrastructure, resource management, energy, and international development.
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Tetra Tech, Inc. is an American consulting and engineering services firm based in Pasadena, California. The company provides consulting, engineering, program management, and construction management services in the areas of water, environment, infrastructure, resource management, energy, and international development.
History
Tetra Tech, Inc. was founded in 1966 as the Water Management Group of Tetra Tech Inc., by Nicholas Boratynski, Henri Hodara, Bernard LeMéhauté, and Don Stern.
During its early years, the company designed waterway structures at harbors, ports, and marinas; supported water quality control projects; supported oil and gas exploration projects; and calculated the effects of offshore military activities for the Department of Defense.
In 1977, Tetra Tech offered common stock on the American Stock Exchange and used this capital to expand its services, from developing methods to predict the level and frequency of floods and causes of acid rain to environmental impact studies of gas pipeline construction and installing Hydro Products equipment for the United States Navy. By 1979, Tetra Tech was helping to analyze data used in exploring the Alaska North Slope for oil.
In 1982, Honeywell purchased Tetra Tech's U.S. operations and another group acquired Tetra Tech International. The company phased out gas exploration and related products and phased in data systems.
In 1988, Honeywell sold Tetra Tech's engineering division to a group of company employees. Dr. Li-San Hwang joined the company in 1967 and led the new independent Tetra Tech. Honeywell retained the data systems division and a Tetra Tech co-founder to head it. After its split from Honeywell, the company grew from 300 employees to more than 14,000 by December 2014.
In 1991, Tetra Tech issued 1.4 million shares of stock on the Nasdaq exchange. The cash infusion permitted more acquisitions of engineering firms specializing in water resources (urban drainage and flood control), civil engineering (bridges and waterway design), environmental restoration, and hazardous waste cleanup. Gross revenues totaled $96.5 million by 1994.
In 2005, Dr. Hwang retired, and Dan Batrack, who joined Tetra Tech in the early 1980s, became CEO.
In 2016, Tetra Tech commemorated its 50th anniversary. As part of the Company's anniversary it launched the Global Clean Water Fund grant program in partnership with Engineers Without Borders. Tetra Tech donated $50,000 to 6 projects around the world that provided clean, safe water for communities in need. Tetra Tech also celebrated 25 years as a publicly traded company on the Nasdaq exchange in December 2016.
Acquisitions
The remainder of the decade to 2014 involved growth by acquiring firms in Canada, Australia, and South America in its core (water and infrastructure) and new markets (mining and energy). Tetra Tech also acquired firms that provided international development services to the United States Agency for International Development. These new acquisitions focused on implementing sustainable strategies for water, energy, and the environment in Africa, Asia, and South America and facilitating stability and growth in countries in the aftermath of social conflicts or failed governing institutions. In October 2015, Coffey International was purchased.
Tetra Tech acquired Glumac in October 2017.
In January 2018, Tetra Tech acquired Bridgenet. In the same month, Norman Disney & Young was purchased.
Tetra Tech acquired the UK-based professional consultancy firm White Young Green in 2019, with WYG rebranding as Tetra Tech two years later.
In February 2021 Tetra Tech acquired Coanda Research and Development Corporation, a Canadian engineering consulting company specializing in computational fluid dynamics, physical and predictive modeling, data analytics, process engineering, analytical chemistry, and instrument development.
In April 2021 Tetra Tech acquired IBRA-RMAC Automation Systems, Inc., a California based water systems instrumentation and digital transformation consulting services for water infrastructure.
In May 2021 Tetra Tech announced that The Kaizen Company had joined its international development practice.
In July 2021 Tetra Tech acquired UK-based Hoare Lea, a sustainable engineering design firm.
In October 2021 Tetra Tech acquired Enterprise Automation (EA), a California based automation and digital transformation consultancy with services including control systems integration, advanced data analytics, platform virtualization, and OT/IT cybersecurity.
In February 2024 Tetra Tech announced the acquisition of LS Technologies, a Fairfax Virginia based contracting firm.
In April 2022, Tetra announced the approval of a patent for its proprietary Volans, a 3D animation and visualization software. In July 2022, Tetra acquired The Integration Group of Americas (TIGA), a systems integration and engineering services company.
In September 2022 Tetra Tech made a successful takeover offer for UK-based RPS Group.
Tetra Tech completed its largest-ever acquisition in January 2023, with its $691 million purchase of the British environmental consulting firm RPS Group. That same month, the company acquired Amyx, Inc., a cybersecurity and technology firm based in Reston, Virginia.
In March 2024, the company acquired LS Technologies, a consulting firm in Fairfax, Virginia. Later that year, in May, Tetra Tech purchased Convergence Controls & Engineering.
Operations
Headquartered in Pasadena, California, Tetra Tech has 30,000 employees in 550 offices worldwide. Its clients include a diverse base of international, U.S. state and local government, U.S. federal government, U.S. commercial, and international clients. No single client, except for U.S. federal government clients, accounted for more than 10 percent of the company's revenue in fiscal 2017.
The company is organized in two business groups: Government Services Group (GSG) and Commercial/International Services Group (CIG).
Soil sample controversy
In 2016, Tetra Tech was accused of faking soil sample results in San Francisco, California, after the U.S. Navy identified 386 “anomalous” soil sample results out of the more than 25,000 taken at Hunters Point Naval Shipyard over the past 20 years. In April 2018, U.S. Environmental Protection Agency comments, released by Public Employees for Environmental Responsibility (PEER), suggested that between 90 and 97 percent of the soil sample results were "neither reliable nor defensible." Also in April, Tetra Tech responded that both conclusions were inaccurate and offered to pay for independent re-testing. Tetra Tech CEO Dan Batrack said, “We believe that any concerns can be directly addressed by actually re-testing and analyzing the areas in question.”
In May 2018, two former supervisors involved in the cleanup of radioactive contaminants at the old Hunters Point Naval Shipyard pleaded guilty to falsifying soil sample results.
In January 2019, the U.S. Justice Department sued Tetra Tech, accusing the engineering company of submitting false billing claims to the U.S. Navy that were based on falsified soil and building test data.
In July 2019, the San Francisco Office of Community Investment and Infrastructure Commission approved initial plans for the construction of more homes at Hunters Point Naval Shipyard, citing the California Department of Public Health’s certification that the area is clean and safe for residents.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
TTEK Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
TTEK Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| Aug. 13, 2026 | $0.0720 |
| May 14, 2026 | $0.0720 |
| Feb. 12, 2026 | $0.0650 |
| Dec. 1, 2025 | $0.0650 |
| Aug. 15, 2025 | $0.0650 |
| May 23, 2025 | $0.0650 |
| Feb. 12, 2025 | $0.0580 |
| Nov. 27, 2024 | $0.0580 |
| Aug. 15, 2024 | $0.0580 |
| May 17, 2024 | $0.0580 |
| Feb. 13, 2024 | $0.0520 |
| Nov. 29, 2023 | $0.0520 |
| Aug. 22, 2023 | $0.0520 |
| May 23, 2023 | $0.0520 |
| Feb. 10, 2023 | $0.0460 |
| Nov. 18, 2022 | $0.0460 |
| Aug. 11, 2022 | $0.0460 |
| May 12, 2022 | $0.0460 |
| Feb. 10, 2022 | $0.0400 |
| Dec. 1, 2021 | $0.0400 |
TTEK Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 4 26.7%
- Buy 7 46.7%
- Hold 4 26.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-16Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.42 | $0.40 | 0.02% |
| March 31, 2026 | $0.34 | $0.33 | 0.01% |
| Dec. 31, 2025 | $0.35 | $0.32 | 0.03% |
| Sept. 30, 2025 | $0.45 | $0.41 | 0.04% |
| June 30, 2025 | $0.43 | $0.39 | 0.04% |
| March 31, 2025 | $0.33 | $0.31 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TTEK | $8.71B | 35.8 | 4.7% | 4.6% | 13.7% | 17.7% |
| RSG | — | 30.9 | 3.3% | 11.2% | 18.3% | — |
| VLTO | $24.79B | 26.5 | 6.0% | 17.1% | 36.5% | 60.0% |
| ROL | $28.88B | 55.1 | 11.0% | 14.0% | 37.4% | — |
| CLH | $12.40B | 32.2 | 2.4% | 6.5% | 14.3% | — |
| CWST | — | 816.2 | 17.9% | 0.43% | 0.50% | — |
| ABM | $2.59B | 16.6 | 4.6% | 1.9% | 9.1% | — |
| BV | $1.27B | 103.1 | -3.4% | 2.1% | 4.4% | 23.3% |
| ONT | — | — | — | — | — | — |
| WM | $88.52B | 32.8 | 14.2% | 10.7% | 29.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.44B | $5.20B | $4.52B | $3.50B | $3.21B | $2.99B | $3.11B | $2.96B | $2.75B | $2.58B | |
| Cost of Revenue | $825M | $877M | $771M | · | · | · | · | · | · | · | |
| Gross Profit | $961M | $866M | $725M | $576M | $498M | $447M | $408M | $384M | $354M | $330M | |
| Operating Income | $408M | $501M | $358M | $340M | $279M | $241M | $189M | $190M | $183M | $136M | |
| Interest Expense | · | · | $52M | $13M | $13M | $14M | $15M | $17M | $12M | $12M | |
| Interest Income | $10M | $7M | $6M | $2M | $917.0K | $1M | $2M | $2M | $729.0K | $996.0K | |
| Other Non-op | $0 | $0 | $89M | $20M | $0 | · | · | · | · | · | |
| Pretax Income | $378M | $463M | $401M | $349M | $267M | $228M | $175M | $175M | $172M | $124M | |
| Income Tax | $130M | $130M | $128M | $86M | $34M | $54M | $16M | $38M | $54M | $41M | |
| Net Income | $248M | $333M | $273M | $263M | $233M | $174M | $159M | $137M | $118M | $84M | |
| EPS (Basic) | $0.94 | $1.25 | $1.03 | $0.98 | $4.31 | $3.21 | $2.89 | $2.46 | $2.07 | $1.44 | |
| EPS (Diluted) | $0.93 | $1.23 | $1.02 | $0.97 | $4.26 | $3.16 | $2.84 | $2.42 | $2.04 | $1.42 | |
| Shares (Basic) | 264,713,000 | 267,364,000 | 266,015,000 | 268,100,000 | 54,078,000 | 54,235,000 | 54,986,000 | 55,670,000 | 56,911,000 | 58,186,000 | |
| Shares (Diluted) | 267,123,000 | 270,042,000 | 268,185,000 | 270,815,000 | 54,675,000 | 55,022,000 | 55,936,000 | 56,598,000 | 57,913,000 | 58,966,000 | |
| EBITDA | $467M | $574M | $419M | · | $303M | $266M | $218M | $229M | $229M | $181M |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $167M | $233M | $169M | $185M | $167M | $158M | $121M | $146M | $190M | $160M | |
| Receivables | $1.16B | $1.05B | $975M | $755M | $669M | $649M | $769M | $694M | $789M | $714M | |
| Prepaid Expense | $99M | $92M | $89M | $115M | $112M | $81M | $62M | $56M | $50M | $46M | |
| Current Assets | $1.62B | $1.53B | $1.36B | $1.16B | $1.07B | $1000M | $1.08B | $1.05B | $1.04B | $935M | |
| PP&E (Net) | $66M | $73M | $75M | $32M | $38M | $36M | $39M | $43M | $57M | $68M | |
| PP&E (Gross) | $188M | $184M | $177M | $129M | $131M | $126M | $150M | $163M | $181M | $215M | |
| Accum. Depreciation | $121M | $111M | $103M | $97M | $94M | $90M | $110M | $120M | $125M | $147M | |
| Goodwill | $2.05B | $2.05B | $1.88B | $1.11B | $1.11B | $993M | $925M | $799M | $741M | $718M | |
| Intangibles | $121M | $161M | $174M | $29M | $38M | $14M | $16M | $16M | $27M | $49M | |
| Other Non-current Assets | $120M | $102M | $71M | $63M | $53M | $57M | $52M | $39M | $32M | $28M | |
| Total Assets | $4.28B | $4.19B | $3.82B | $2.62B | $2.58B | $2.38B | $2.15B | $1.96B | $1.90B | $1.80B | |
| Accounts Payable | $205M | $197M | $173M | $147M | $129M | $112M | $207M | $160M | $178M | $159M | |
| Current Liabilities | $1.38B | $1.22B | $1.21B | $916M | $848M | $793M | $770M | $618M | $538M | $481M | |
| Capital Leases | $155M | $140M | $145M | $146M | $174M | $192M | · | · | · | · | |
| Deferred Tax | $21M | $30M | $14M | $15M | $11M | $16M | $13M | $30M | $44M | $60M | |
| Other Non-current Liabilities | $151M | $138M | $148M | $79M | $69M | $81M | $83M | $58M | $51M | $54M | |
| Long-term Debt | $766M | $813M | $880M | $259M | $212M | $292M | · | · | · | · | |
| Total Debt | $763M | · | $880M | · | $212M | $242M | · | · | · | · | |
| Common Stock | $3M | $3M | $3M | $530.0K | $540.0K | $538.0K | $546.0K | $553.0K | $559.0K | $570.0K | |
| Retained Earnings | $1.87B | $1.87B | $1.60B | $1.39B | $1.36B | $1.20B | $1.07B | $945M | $833M | $736M | |
| AOCI | $-96M | $-79M | $-195M | $-208M | $-125M | $-162M | $-161M | $-127M | $-98M | $-128M | |
| Stockholders' Equity | $1.78B | $1.83B | $1.40B | $1.18B | $1.23B | $1.04B | $989M | $967M | $928M | $869M | |
| Liabilities + Equity | $4.28B | $4.19B | $3.82B | $2.62B | $2.58B | $2.38B | $2.15B | $1.96B | $1.90B | $1.80B | |
| Shares Outstanding | 261,418,000 | 267,717,000 | 266,238,000 | 52,981,000 | 53,981,000 | 53,797,000 | 54,565,000 | 55,349,000 | 55,873,000 | 57,042,000 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $58M | $74M | $61M | $27M | $24M | $25M | $29M | $39M | $46M | $46M | |
| Stock-based Comp | $34M | $31M | $29M | $26M | $23M | $19M | $18M | $20M | $13M | $13M | |
| Deferred Tax | $-11M | $-12M | $-28M | $2M | $-36M | $3M | $-38M | $-29M | $-10M | $6M | |
| Amort. of Intangibles | $37M | $50M | $41M | $13M | $12M | $12M | $12M | $18M | $23M | $22M | |
| Other Non-cash | $129M | $-67M | $33M | · | $60M | $42M | $41M | $11M | $-29M | $-6M | |
| Operating Cash Flow | $458M | $359M | $368M | $336M | $304M | $262M | $209M | $186M | $141M | $142M | |
| CapEx | $19M | $18M | $27M | $11M | $9M | $12M | $16M | $10M | $10M | $12M | |
| Investing Cash Flow | $-107M | $-111M | $-771M | $-56M | $-93M | $-63M | $-100M | $-43M | $-17M | $-94M | |
| Net Debt Issued | · | · | · | · | $-414M | $-331M | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | $14M | $19M | $18M | |
| Stock Repurchased | $250M | $0 | $0 | $200M | $60M | $117M | $100M | $75M | $100M | $100M | |
| Net Stock Activity | $-250M | $0 | $0 | · | $-60M | $-117M | $-100M | $-61M | $-81M | $-82M | |
| Dividends Paid | $65M | $59M | $52M | $46M | $40M | $35M | $30M | $24M | $22M | $20M | |
| Financing Cash Flow | $-410M | $-191M | $382M | $-250M | $-210M | $-163M | $-135M | $-182M | $-98M | $-25M | |
| Net Change in Cash | $-64M | $64M | $-16M | $19M | $9M | $37M | $-28M | $-44M | $30M | $25M | |
| Taxes Paid | $111M | $181M | $93M | $71M | $59M | $55M | $66M | $50M | $73M | $35M | |
| Free Cash Flow | $439M | $341M | $342M | · | $296M | $250M | $192M | $167M | $128M | $130M | |
| Levered FCF | · | · | $306M | · | $285M | $239M | $178M | $154M | $120M | $122M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7% | 16.7% | 16.0% | · | 15.5% | 14.9% | · | 13.0% | · | · | |
| Operating Margin | 7.5% | 9.6% | 7.9% | · | 8.7% | 8.1% | · | 6.4% | · | · | |
| Net Margin | 4.6% | 6.4% | 6.0% | · | 7.2% | 5.8% | · | 4.6% | · | · | |
| Pretax Margin | 6.9% | 8.9% | 8.9% | · | 8.3% | 7.6% | · | 5.9% | · | · | |
| EBITDA Margin | 8.6% | 11.1% | 9.3% | · | 9.4% | 8.9% | · | 7.7% | · | · | |
| ROA | 5.9% | 8.3% | 8.5% | · | 9.4% | 7.7% | 7.7% | 7.1% | 6.4% | 5.0% | |
| ROE | 13.7% | 20.6% | 21.1% | · | 20.5% | 17.2% | 16.2% | 14.4% | 13.1% | 9.7% | |
| ROIC | 10.5% | 19.7% | 10.7% | · | 16.8% | 14.4% | 17.3% | 15.4% | 13.6% | 10.5% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.3 | 1.1 | · | 1.3 | 1.3 | 1.4 | 1.7 | 1.9 | 1.9 | |
| Quick Ratio | 1.0 | 1.1 | 0.9 | · | 1.0 | 1.0 | 1.2 | 1.6 | 1.8 | 1.8 | |
| Debt / Equity | 0.4 | · | 0.6 | · | 0.2 | 0.2 | · | · | · | · | |
| LT Debt / Equity | 0.4 | · | 0.6 | · | 0.2 | 0.2 | · | · | · | · | |
| Interest Coverage | · | · | 6.8 | · | 21.9 | 16.7 | 12.3 | 11.0 | 14.9 | 11.0 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.3 | 1.3 | 1.4 | · | 1.3 | 1.3 | · | 1.5 | · | · | |
| Receivables Turnover | 4.9 | 5.1 | 5.2 | · | 4.9 | 4.2 | · | 3.6 | · | · |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 4.7% | 14.9% | 29.1% | 9.0% | 7.3% | · | · | · | · | · | |
| Revenue CAGR 3Y | 15.8% | 17.4% | 14.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 12.7% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -24.4% | 20.6% | 5.1% | -77.2% | 34.8% | · | · | · | · | · | |
| EPS CAGR 3Y | -1.4% | -33.9% | -31.4% | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -21.7% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -25.6% | 21.9% | 3.9% | 13.0% | 33.9% | · | · | · | · | · | |
| Net Income CAGR 3Y | -2.0% | 12.7% | 16.3% | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 7.3% | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 13.4% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.44B | $5.20B | $4.52B | $3.50B | $3.21B | $2.99B | $3.11B | $2.96B | $2.75B | $2.58B | |
| Net Income TTM | $248M | $333M | $273M | $263M | $233M | $174M | $159M | $137M | $118M | $84M | |
| Market Cap | $8.71B | $12.42B | $1.62B | · | $1.64B | $982M | $927M | $756M | $520M | $405M | |
| Enterprise Value | $9.31B | · | $2.33B | · | $1.69B | $1.07B | · | · | · | · | |
| P/E | 35.8 | 37.7 | 29.8 | 26.5 | 7.1 | 5.8 | 6.0 | 5.6 | 4.6 | 5.0 | |
| P/S | 1.6 | 2.4 | 0.4 | · | 0.5 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | |
| P/B | 4.9 | 6.8 | 1.2 | · | 1.3 | 0.9 | 0.9 | 0.8 | 0.6 | 0.5 | |
| P / Tangible Book | · | · | · | 31.3 | 18.7 | 32.9 | · | · | · | · | |
| P / Cash Flow | 19.0 | 34.6 | 4.4 | · | 5.4 | 3.7 | 4.4 | 4.3 | 3.8 | 2.8 | |
| P / FCF | 19.8 | 36.5 | 4.7 | · | 5.5 | 3.9 | 4.8 | 4.5 | 4.1 | 3.1 | |
| EV / EBITDA | 19.9 | · | 5.6 | · | 5.6 | 4.0 | · | · | · | · | |
| EV / FCF | 21.2 | · | 6.8 | · | 5.7 | 4.3 | · | · | · | · | |
| EV / Revenue | 1.7 | · | 0.5 | · | 0.5 | 0.4 | · | · | · | · | |
| Dividend Yield | 0.75% | 0.47% | 3.2% | · | 2.4% | 3.5% | 3.2% | 3.2% | 4.2% | 4.9% | |
| Earnings Yield | 2.8% | 2.6% | 3.4% | 3.8% | 14.0% | 17.3% | 16.7% | 17.7% | 21.9% | 20.0% | |
| Payout Ratio | 26.2% | 17.6% | 19.1% | · | 17.2% | 20.0% | 18.7% | 17.9% | 18.4% | 23.5% | |
| Annual Payout | $65M | $59M | $52M | $46M | $40M | $35M | $30M | $24M | $22M | $20M |
Income Statement 13
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $1.22B | $1.21B | $1.33B | $1.37B | $1.32B | $1.42B | $1.37B | $1.34B | $1.25B | $1.23B | $1.57B | $1.21B | $1.16B | $895M | $903M | |
| Cost of Revenue | $200M | $171M | $173M | $167M | $217M | $218M | $223M | · | · | · | · | · | · | · | · | · | |
| Gross Profit | $243M | $214M | $220M | $274M | $252M | $214M | $221M | $245M | $223M | $207M | $190M | $248M | $189M | $171M | $153M | $156M | |
| Operating Income | $158M | $132M | $141M | $181M | $165M | $40M | $23M | $143M | $129M | $118M | $111M | $113M | $98M | $61M | $92M | $95M | |
| Other Non-op | $0 | $5M | $8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $-68M | $0 | $21M | $68M | $20M | |
| Pretax Income | $151M | $127M | $142M | $174M | $157M | $31M | $15M | $135M | $119M | $108M | $102M | $23M | $83M | $69M | $155M | $112M | |
| Income Tax | $41M | $34M | $36M | $47M | $43M | $26M | $15M | $39M | $33M | $31M | $27M | $25M | $23M | $26M | $38M | $29M | |
| Net Income | $110M | $94M | $105M | $128M | $114M | $5M | $778.0K | $96M | $86M | $76M | $75M | $-3M | $60M | $43M | $117M | $83M | |
| EPS (Basic) | $0.42 | $0.36 | $0.40 | $0.49 | $0.43 | $0.02 | $0.00 | $0.36 | $0.32 | $0.29 | $0.28 | $-4.17 | $0.23 | $0.16 | $0.44 | $-2.38 | |
| EPS (Diluted) | $0.42 | $0.36 | $0.40 | $0.48 | $0.43 | $0.02 | $0.00 | $0.35 | $0.32 | $0.28 | $0.28 | $-4.14 | $0.22 | $0.16 | $0.44 | $-2.35 | |
| Shares (Basic) | 258,151,000 | 260,144,000 | 260,809,000 | 262,184,000 | 263,026,000 | 265,728,000 | 267,854,000 | 267,687,000 | 267,575,000 | 267,420,000 | 266,585,000 | 106,650,000 | 266,155,000 | 266,135,000 | 265,345,000 | 106,822,000 | |
| Shares (Diluted) | 259,779,000 | 261,919,000 | 262,731,000 | 264,247,000 | 264,855,000 | 267,439,000 | 271,886,000 | 271,656,000 | 270,260,000 | 269,375,000 | 268,690,000 | 107,500,000 | 268,265,000 | 268,135,000 | 267,645,000 | 107,886,000 | |
| EBITDA | $158M | $132M | $155M | · | $165M | $40M | $39M | · | $129M | $118M | $131M | · | $98M | $61M | $99M | · |
Balance Sheet 24
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $231M | $224M | $269M | $167M | $243M | $179M | $248M | $233M | $212M | $210M | $199M | · | $176M | $231M | $164M | · | |
| Receivables | $1.08B | $1.05B | $1.08B | $1.16B | $1.13B | $1.22B | $1.12B | $1.05B | $1.05B | $1.04B | $1.04B | · | $1.00B | $990M | $796M | · | |
| Prepaid Expense | $120M | $125M | $112M | $83M | $107M | $129M | $144M | $92M | $122M | $129M | $126M | · | $114M | $126M | $194M | · | |
| Current Assets | $1.58B | $1.54B | $1.60B | $1.62B | $1.62B | $1.67B | $1.63B | $1.53B | $1.51B | $1.48B | $1.45B | · | $1.42B | $1.47B | $1.23B | · | |
| PP&E (Net) | $63M | $65M | $65M | $66M | $70M | $66M | $67M | $73M | $71M | $73M | $75M | · | $81M | $77M | $35M | · | |
| PP&E (Gross) | $199M | $197M | $192M | $188M | $193M | $183M | $180M | $184M | $177M | $177M | $178M | · | $190M | $179M | $134M | · | |
| Accum. Depreciation | $136M | $132M | $127M | $121M | $122M | $117M | $113M | $111M | $106M | $105M | $103M | · | $108M | $103M | $99M | · | |
| Goodwill | $2.22B | $2.21B | $2.07B | $2.05B | $2.08B | $1.91B | $1.97B | $2.05B | $1.99B | $1.98B | $1.92B | $1.88B | $1.89B | $1.86B | $1.13B | $1.11B | |
| Intangibles | $124M | $129M | $114M | $121M | $158M | $137M | $142M | $161M | $164M | $176M | $168M | · | $225M | $233M | $28M | · | |
| Other Non-current Assets | $140M | $131M | $123M | $120M | $125M | $111M | $100M | $102M | $94M | $95M | $75M | · | $73M | $75M | $66M | · | |
| Total Assets | $4.39B | $4.36B | $4.26B | $4.28B | $4.35B | $4.18B | $4.18B | $4.19B | $4.08B | $4.07B | $3.95B | · | $3.97B | $3.99B | $2.73B | · | |
| Accounts Payable | $221M | $205M | $197M | $205M | $235M | $262M | $238M | $197M | $198M | $216M | $207M | · | $189M | $236M | $151M | · | |
| Current Liabilities | $1.33B | $1.23B | $1.22B | $1.38B | $1.38B | $1.52B | $1.27B | $1.22B | $1.25B | $1.19B | $1.16B | · | $1.21B | $1.17B | $871M | · | |
| Capital Leases | $148M | $156M | $154M | $155M | $145M | $143M | $135M | $140M | $129M | $139M | $140M | · | $164M | $161M | $148M | · | |
| Deferred Tax | $22M | $20M | $20M | $21M | $31M | $27M | $25M | $30M | $17M | $18M | $12M | · | $71M | $63M | $33M | · | |
| Other Non-current Liabilities | $161M | $150M | $155M | $151M | $163M | $149M | $150M | $138M | $142M | $156M | $138M | · | $126M | $126M | $87M | · | |
| Long-term Debt | $804M | $883M | $837M | · | · | $1.01B | $888M | · | $862M | $951M | $945M | · | · | · | · | · | |
| Total Debt | $801M | $880M | $834M | · | $862M | $1.01B | $888M | · | $862M | $951M | $945M | · | $907M | $1.06B | $234M | · | |
| Common Stock | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $535.0K | $535.0K | $534.0K | · | $532.0K | $532.0K | $532.0K | · | |
| Retained Earnings | $1.96B | $1.96B | $1.92B | $1.87B | $1.80B | $1.72B | $1.86B | $1.87B | $1.79B | $1.72B | $1.66B | · | $1.57B | $1.53B | $1.50B | · | |
| AOCI | $-106M | $-95M | $-76M | $-96M | $-65M | $-153M | $-188M | $-79M | $-155M | $-157M | $-132M | · | $-138M | $-181M | $-175M | · | |
| Stockholders' Equity | $1.85B | $1.86B | $1.85B | $1.78B | $1.74B | $1.57B | $1.69B | $1.83B | $1.67B | $1.58B | $1.54B | · | $1.45B | $1.36B | $1.32B | · | |
| Liabilities + Equity | $4.39B | $4.36B | $4.26B | $4.28B | $4.35B | $4.18B | $4.18B | $4.19B | $4.08B | $4.07B | $3.95B | · | $3.97B | $3.99B | $2.73B | · | |
| Shares Outstanding | 256,044,000 | 259,525,000 | 260,811,000 | 261,418,000 | 262,752,000 | 263,503,000 | 268,028,000 | 267,717,000 | 53,532,000 | 53,497,000 | 53,466,000 | · | 53,243,000 | 53,228,000 | 53,226,000 | · |
Cash Flow 15
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $15M | $14M | $14M | $15M | $14M | $14M | $16M | $17M | $20M | $18M | $19M | $18M | $20M | · | $7M | $7M | |
| Stock-based Comp | $10M | $9M | $8M | $8M | $9M | $9M | $8M | $7M | $8M | $8M | $8M | $7M | $7M | · | $7M | $7M | |
| Amort. of Intangibles | $9M | $9M | $8M | $10M | $8M | $9M | $11M | $12M | $14M | $12M | $12M | $22M | $14M | $12M | $3M | $4M | |
| Other Non-cash | · | · | $-55M | · | · | · | $-12M | · | · | · | $-93M | · | · | · | $-105M | · | |
| Operating Cash Flow | $229M | $165M | $72M | $101M | $350M | $-6M | $13M | $106M | $141M | $103M | $9M | $122M | $133M | · | $25M | $60M | |
| CapEx | $4M | $6M | $4M | $5M | $4M | $6M | $3M | $7M | $4M | $4M | $3M | $10M | $7M | · | $5M | $2M | |
| Investing Cash Flow | $-21M | $-182M | $37M | $2M | $-96M | $-9M | $-3M | $-7M | $-25M | $-76M | $-3M | $-9M | $-7M | · | $-5M | $-17M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | $-60M | · | · | · | $-73M | · | |
| Stock Repurchased | $100M | $52M | $50M | $50M | $25M | $150M | $25M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50M | |
| Net Stock Activity | · | · | $-50M | · | · | · | $-25M | · | · | · | · | · | · | · | $0 | · | |
| Dividends Paid | $19M | $17M | $17M | $17M | $17M | $15M | $16M | $16M | $16M | $14M | $14M | $14M | $14M | · | $12M | $12M | |
| Financing Cash Flow | $-201M | $-29M | $-11M | $-175M | $-198M | $-57M | $19M | $-84M | $-113M | $-13M | $18M | $-112M | $-186M | · | $-42M | $-67M | |
| Net Change in Cash | $7M | $-46M | $101M | $-74M | $63M | $-69M | $15M | $20M | $2M | $12M | $30M | $-7M | $-55M | · | $-13M | $-32M | |
| Taxes Paid | $19M | $36M | $19M | $54M | $9M | $33M | $14M | $65M | $31M | $42M | $43M | $38M | $15M | · | $15M | $22M | |
| Free Cash Flow | · | · | $68M | · | · | · | $10M | · | · | · | $6M | · | · | · | $20M | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.6% | 17.5% | 18.2% | · | 18.4% | 16.2% | 15.6% | · | 16.6% | 16.6% | 15.5% | · | 15.6% | 14.8% | 17.1% | · | |
| Operating Margin | 12.1% | 10.8% | 11.7% | · | 12.0% | 3.0% | 1.6% | · | 9.6% | 9.4% | 9.0% | · | 8.1% | 5.3% | 10.3% | · | |
| Net Margin | 8.4% | 7.7% | 8.7% | · | 8.3% | 0.41% | 0.05% | · | 6.4% | 6.1% | 6.1% | · | 5.0% | 3.7% | 13.0% | · | |
| Pretax Margin | 11.5% | 10.4% | 11.7% | · | 11.4% | 2.4% | 1.1% | · | 8.8% | 8.6% | 8.3% | · | 6.9% | 6.0% | 17.3% | · | |
| EBITDA Margin | 12.1% | 10.8% | 12.8% | · | 12.0% | 3.0% | 2.7% | · | 9.6% | 9.4% | 10.6% | · | 8.1% | 5.3% | 11.0% | · | |
| ROA | 2.5% | 2.2% | 2.5% | · | 2.7% | 0.13% | 0.02% | · | 2.1% | 1.9% | 2.2% | · | 1.8% | 1.3% | 4.3% | · | |
| ROE | 6.1% | 5.5% | 5.9% | · | 6.7% | 0.34% | 0.05% | · | 5.5% | 5.2% | 5.2% | · | 4.5% | 3.3% | 9.1% | · | |
| ROIC | 4.3% | 3.5% | 3.9% | · | 4.6% | 0.27% | 0.04% | · | 3.7% | 3.3% | 3.3% | · | 3.0% | 1.6% | 4.5% | · |
Liquidity & Solvency 4
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.3 | 1.3 | · | 1.2 | 1.1 | 1.3 | · | 1.2 | 1.2 | 1.3 | · | 1.2 | 1.3 | 1.4 | · | |
| Quick Ratio | 1.0 | 1.0 | 1.1 | · | 1.0 | 0.9 | 1.1 | · | 1.0 | 1.0 | 1.1 | · | 1.0 | 1.0 | 1.1 | · | |
| Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.5 | 0.6 | 0.5 | · | 0.5 | 0.6 | 0.6 | · | 0.6 | 0.8 | 0.2 | · | |
| LT Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.6 | 0.6 | · | 0.6 | 0.8 | 0.2 | · |
Efficiency 2
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.3 | 0.3 | · | |
| Receivables Turnover | 1.2 | 1.1 | 1.1 | · | 1.3 | 1.2 | 1.3 | · | 1.3 | 1.2 | 1.3 | · | 1.4 | 1.4 | 1.2 | · |
Valuation (TTM) 15
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.07B | $5.13B | $5.23B | · | $5.49B | $5.46B | $5.39B | · | $5.08B | · | · | · | · | · | · | · | |
| Net Income TTM | $423M | $318M | $225M | · | $206M | $168M | $238M | · | $297M | $272M | $238M | · | · | · | $345M | · | |
| Market Cap | $7.49B | $7.73B | $8.88B | · | $9.36B | $7.68B | $10.68B | · | $2.19B | $1.98B | $1.79B | · | $1.74B | $1.56B | $1.55B | · | |
| Enterprise Value | $8.06B | $8.39B | $9.44B | · | $9.98B | $8.52B | $11.32B | · | $2.84B | $2.72B | $2.53B | · | $2.47B | $2.40B | $1.62B | · | |
| P/E | 17.6 | 17.8 | 25.6 | · | 44.5 | 42.2 | 41.9 | · | 37.9 | · | · | · | · | · | · | · | |
| P/S | 1.5 | 1.5 | 1.7 | · | 1.7 | 1.4 | 2.0 | · | 0.4 | · | · | · | · | · | · | · | |
| P/B | 4.0 | 4.1 | 4.8 | · | 5.4 | 4.9 | 6.3 | · | 1.3 | 1.2 | 1.2 | · | 1.2 | 1.2 | 1.2 | · | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 9.5 | · | |
| P / Cash Flow | · | · | 122.8 | · | · | · | 817.2 | · | · | · | 193.1 | · | · | · | 61.4 | · | |
| P / FCF | · | · | 130.3 | · | · | · | 1108.6 | · | · | · | 308.3 | · | · | · | 76.5 | · | |
| EV / EBITDA | 51.0 | 63.8 | 60.9 | · | 60.5 | 215.0 | 293.2 | · | 22.1 | 23.1 | 19.4 | · | 25.3 | 39.3 | 16.4 | · | |
| EV / FCF | · | · | 138.6 | · | · | · | 1175.1 | · | · | · | 437.2 | · | · | · | 80.0 | · | |
| EV / Revenue | 1.6 | 1.6 | 1.8 | · | 1.8 | 1.6 | 2.1 | · | 0.6 | · | · | · | · | · | · | · | |
| Earnings Yield | 5.7% | 5.6% | 3.9% | · | 2.2% | 2.4% | 2.4% | · | 2.6% | · | · | · | · | · | · | · | |
| Payout Ratio | · | · | 16.1% | · | · | · | 1998.6% | · | · | · | 18.5% | · | · | · | 10.4% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-28 | 2024-09-29 | 2023-10-01 | 2022-10-02 | 2021-10-03 | |
|---|---|---|---|---|---|
| Revenue | $5.44B | $5.20B | $4.52B | $3.50B | $3.21B |
| Gross Margin % | 17.7% | 16.7% | 16.0% | — | 15.5% |
| Operating Margin % | 7.5% | 9.6% | 7.9% | — | 8.7% |
| Net Income | $248M | $333M | $273M | $263M | $233M |
| Diluted EPS | $0.93 | $1.23 | $1.02 | $0.97 | $4.26 |
Balance Sheet
| 2025-09-28 | 2024-09-29 | 2023-10-01 | 2022-10-02 | 2021-10-03 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | — | 0.6 | — | 0.2 |
| Current Ratio | 1.2 | 1.3 | 1.1 | — | 1.3 |
| Quick Ratio | 1.0 | 1.1 | 0.9 | — | 1.0 |
Cash Flow
| 2025-09-28 | 2024-09-29 | 2023-10-01 | 2022-10-02 | 2021-10-03 | |
|---|---|---|---|---|---|
| Free Cash Flow | $439M | $341M | $342M | — | $296M |
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Institutional owners (13F) 603 filers · $4.9B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 62 (-22 vs prior Q) | 79 (-2 vs prior Q) | 184 (-11 vs prior Q) | 209 (-8 vs prior Q) | -2.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $360,199,653 | 12,467,970 | 7.32% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $338,756,571 | 11,725,738 | 6.89% | Shares |
| Capital International Investors | $336,604,266 | 11,651,238 | 6.84% | Shares |
| STATE STREET CORP | $282,013,780 | 9,761,640 | 5.73% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $167,679,417 | 5,802,815 | 3.41% | Shares |
| FIL Ltd | $157,982,856 | 5,468,427 | 3.21% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $142,175,418 | 4,921,268 | 2.89% | Shares |
| Pictet Asset Management Holding SA | $137,495,637 | 4,759,290 | 2.80% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $126,934,802 | 4,393,728 | 2.58% | Shares |
| NEUBERGER BERMAN GROUP LLC | $126,189,198 | 4,367,920 | 2.57% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $117,117,545 | 4,053,913 | 2.38% | Shares |
| Impax Asset Management Group plc | $113,587,997 | 3,931,741 | 2.31% | Shares |
| FMR LLC | $112,172,908 | 3,882,759 | 2.28% | Shares |
| NORGES BANK | $93,343,243 | 3,230,988 | 1.90% | Shares |
| LGT Group Foundation | $91,845,875 | 3,179,158 | 1.87% | Shares |
| Robeco Schweiz AG | $89,537,333 | 3,099,250 | 1.82% | Shares |
| M&G PLC | $80,513,976 | 2,776,344 | 1.64% | Shares |
| Amundi | $74,518,458 | 2,580,279 | 1.52% | Shares |
| FIRST TRUST ADVISORS LP | $74,003,648 | 2,561,572 | 1.50% | Shares |
| Ninety One UK Ltd | $68,332,375 | 2,365,261 | 1.39% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $66,051,669 | 2,286,316 | 1.34% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $58,955,823 | 2,040,700 | 1.20% | Shares |
| Energy Income Partners, LLC | $57,483,011 | 1,989,720 | 1.17% | Shares |
| VANGUARD GROUP INC | $53,606,043 | 1,598,272 | 1.09% | Shares |
| AVIVA PLC | $53,230,316 | 1,842,517 | 1.08% | Shares |
| COOKE & BIELER LP | $51,580,293 | 1,785,403 | 1.05% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $47,475,601 | 1,643,323 | 0.97% | Shares |
| Corient Private Wealth LP | $44,964,224 | 1,556,394 | 0.91% | Shares |
| NEUMEIER POMA INVESTMENT COUNSEL LLC | $43,750,380 | 1,514,378 | 0.89% | Shares |
| MANAGED ASSET PORTFOLIOS, LLC | $38,184,324 | 1,321,714 | 0.78% | Shares |
| Quantinno Capital Management LP | $31,887,580 | 1,103,758 | 0.65% | Shares |
| GOLDMAN SACHS GROUP INC | $31,856,219 | 1,102,673 | 0.65% | Shares |
| Capital Research Global Investors | $29,486,665 | 1,020,653 | 0.60% | Shares |
| Point72 Asset Management, L.P. | $29,212,095 | 1,011,149 | 0.59% | Shares |
| BANK OF AMERICA CORP /DE/ | $27,930,447 | 966,786 | 0.57% | Shares |
| BlackRock, Inc. | $27,355,854 | 946,897 | 0.56% | Shares |
| CITADEL ADVISORS LLC | $26,908,493 | 931,412 | 0.55% | Shares |
| L1 Capital International Pty Ltd | $26,735,759 | 925,433 | 0.54% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $24,086,951 | 833,747 | 0.49% | Shares |
| Robeco Institutional Asset Management B.V. | $21,489,276 | 743,831 | 0.44% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $20,595,219 | 712,884 | 0.42% | Shares |
| Gotham Asset Management, LLC | $20,472,436 | 708,634 | 0.42% | Shares |
| RHUMBLINE ADVISERS | $20,043,975 | 693,805 | 0.41% | Shares |
| Portman Square Capital LLP | $19,801,206 | 685,400 | 0.40% | Put option |
| MIROVA | $19,345,062 | 669,611 | 0.39% | Shares |
| TRILLIUM ASSET MANAGEMENT, LLC | $18,718,159 | 647,910 | 0.38% | Shares |
| Fisher Asset Management, LLC | $18,714,797 | 647,795 | 0.38% | Shares |
| Squarepoint Ops LLC | $18,545,791 | 641,945 | 0.38% | Shares |
| BANK OF NOVA SCOTIA | $18,174,375 | 629,088 | 0.37% | Shares |
| Bridgewater Associates, LP | $17,571,216 | 608,211 | 0.36% | Shares |
| HSBC HOLDINGS PLC | $17,298,845 | 605,914 | 0.35% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $16,942,136 | 586,436 | 0.34% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $16,710,372 | 578,614 | 0.34% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $16,443,032 | 569,160 | 0.33% | Shares |
| Aberdeen Group plc | $15,292,026 | 529,319 | 0.31% | Shares |
| California Public Employees Retirement System | $15,273,016 | 528,661 | 0.31% | Shares |
| Swiss National Bank | $14,364,108 | 497,200 | 0.29% | Shares |
| Ninety One North America, Inc. | $14,033,810 | 485,767 | 0.29% | Shares |
| Sarasin & Partners LLP | $13,662,140 | 472,902 | 0.28% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $13,230,320 | 457,955 | 0.27% | Shares |
| Balyasny Asset Management L.P. | $13,192,330 | 456,640 | 0.27% | Shares |
| one8zero8, LLC | $12,731,027 | 440,672 | 0.26% | Shares |
| BARCLAYS PLC | $12,380,463 | 428,538 | 0.25% | Shares |
| Retirement Systems of Alabama | $12,373,269 | 428,289 | 0.25% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $12,125,480 | 419,712 | 0.25% | Shares |
| ALGERT GLOBAL LLC | $11,992,210 | 415,099 | 0.24% | Shares |
| NICOLA WEALTH MANAGEMENT LTD. | $11,873,790 | 411,000 | 0.24% | Shares |
| AMERIPRISE FINANCIAL INC | $11,658,010 | 403,531 | 0.24% | Shares |
| MACKENZIE FINANCIAL CORP | $11,612,740 | 401,964 | 0.24% | Shares |
| Thematics Asset Management | $11,541,135 | 345,750 | 0.23% | Shares |
| Toroso Investments, LLC | $10,845,025 | 323,346 | 0.22% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $10,788,263 | 373,426 | 0.22% | Shares |
| Osprey Private Wealth LLC | $10,495,593 | 363,295 | 0.21% | Shares |
| ALLIANCEBERNSTEIN L.P. | $10,101,073 | 335,361 | 0.21% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,863,046 | 341,400 | 0.20% | Put option |
| INTECH INVESTMENT MANAGEMENT LLC | $9,662,406 | 334,455 | 0.20% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $9,233,244 | 319,600 | 0.19% | Shares |
| PRUDENTIAL FINANCIAL INC | $8,804,083 | 304,745 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $8,749,770 | 290,497 | 0.18% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $8,713,000 | 301,601 | 0.18% | Shares |
| Renaissance Investment Group LLC | $8,489,056 | 293,841 | 0.17% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $8,070,913 | 279,367 | 0.16% | Shares |
| UBS Group AG | $8,046,587 | 278,525 | 0.16% | Shares |
| Public Sector Pension Investment Board | $8,017,466 | 277,517 | 0.16% | Shares |
| Foresight Group Ltd Liability Partnership | $7,684,378 | 269,580 | 0.16% | Shares |
| Candriam S.C.A. | $7,261,355 | 251,587 | 0.15% | Shares |
| GHP Investment Advisors, Inc. | $6,819,299 | 226,404 | 0.14% | Shares |
| CAPITAL INTERNATIONAL SARL | $6,397,084 | 221,429 | 0.13% | Shares |
| Dana Investment Advisors, Inc. | $6,113,500 | 211,613 | 0.12% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $5,910,403 | 204,583 | 0.12% | Shares |
| NICHOLAS COMPANY, INC. | $5,904,827 | 204,390 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $5,843,580 | 202,270 | 0.12% | Shares |
| Rockefeller Capital Management L.P. | $5,736,370 | 198,559 | 0.12% | Shares |
| AlpenGlobal Capital LLC | $5,725,584 | 103,668 | 0.12% | Shares |
| Bank of New York Mellon Corp | $5,650,971 | 195,603 | 0.11% | Shares |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $5,588,742 | 193,449 | 0.11% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $5,426,640 | 187,838 | 0.11% | Shares |
| Y-Intercept (Hong Kong) Ltd | $5,341,328 | 184,885 | 0.11% | Shares |
| JANE STREET GROUP, LLC | $5,286,870 | 183,000 | 0.11% | Call option |
| TWO SIGMA ADVISERS, LP | $5,245,656 | 156,400 | 0.11% | Shares |
Company insiders 47 insiders · 22 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Dan L Batrack | Chairman and CEO | Nov. 30, 2025 M | 332,498 | 0 | 0 | $0 |
| Roger R Argus | President, Commer/Int'l Group | Nov. 30, 2024 M | 25,543 | 0 | 0 | $0 |
| Jill Hudkins | President | April 26, 2024 M | 2,828 | 0 | 0 | $0 |
| James M Jaska | PRESIDENT | June 1, 2004 A | 2,073 | 0 | 0 | $0 |
| Preston Hopson III | EVP, Chief Legal/Human Capital | Nov. 30, 2024 M | 63,782 | 0 | 0 | $0 |
| Brian N Carter | SVP, Corporate Controller | Nov. 30, 2024 M | 49,224 | 0 | 0 | $0 |
| Leslie L Shoemaker | EVP, Chief Sustainability | Nov. 30, 2024 M | 307,841 | 0 | 0 | $0 |
| Derek G Amidon | SVP, Comm./Int'l Svcs. Group | Nov. 18, 2022 M | 11,141 | 0 | 0 | $0 |
| Brendan M. O'Rourke | SVP, Enterprise Risk Mgmt. | Nov. 16, 2022 A | 1,344 | 0 | 0 | $0 |
| William R Brownlie | SVP, Chief Engineer | March 18, 2022 M | 85,376 | 0 | 0 | $0 |
| Richard A Lemmon | SVP, Corporate Administration | Dec. 7, 2021 G | 35,775 | 0 | 0 | $0 |
| Craig L Christensen | SVP, CIO | Nov. 30, 2021 G | 36,407 | 0 | 0 | $0 |
| Bernard Teufele | SVP, Canada and South America | Nov. 23, 2021 A | 12,867 | 0 | 0 | $0 |
| Mark A Rynning | SVP, R&S Infrastructure | Nov. 18, 2021 M | 1,164 | 0 | 0 | $0 |
| Jan K Auman | SVP, Global Development Svcs. | Nov. 21, 2019 A | 6,926 | 0 | 0 | $0 |
| Kevin P Mcdonald | Former SVP, Human Resources | Nov. 18, 2018 F | 22,038 | 0 | 0 | $0 |
| Janis B Salin | SVP, GENERAL COUNSEL | Jan. 22, 2018 | — | 0 | 0 | $0 |
| Ronald J Chu | EXECUTIVE VICE PRESIDENT | Nov. 9, 2017 M | 37,104 | 0 | 0 | $0 |
| Mark A Walsh | SENIOR VICE PRESIDENT | Dec. 31, 2007 A | 6,762 | 0 | 0 | $0 |
| Charles R Faust | VICE PRESIDENT | Aug. 13, 2004 S | 17,628 | 0 | 0 | $0 |
| James T Haney | EXECUTIVE VICE PRESIDENT | June 1, 2004 A | 624 | 0 | 0 | $0 |
| Arkan Say | Vice President | Aug. 26, 2003 S | 33,000 | 0 | 0 | $0 |
| Kimberly E Ritrievi | Director | Nov. 19, 2025 A | 143,200 | 0 | 0 | $0 |
| Gary Birkenbeuel | Director | Aug. 14, 2025 S | 37,725 | 0 | 0 | $0 |
| John M. Douglas | Director | Feb. 27, 2025 M | 610 | 0 | 0 | $0 |
| Prashant Gandhi | Director | Nov. 30, 2024 M | 10,731 | 0 | 0 | $0 |
| Christiana Obiaya | Director | Nov. 30, 2024 M | 3,810 | 0 | 0 | $0 |
| Joanne M Maguire | Director | Sept. 30, 2024 M | 97,785 | 0 | 0 | $0 |
| Kenneth J Thompson | Director | Feb. 14, 2024 S | 10,985 | 0 | 0 | $0 |
| LEWIS J CHRISTOPHER | Director | Dec. 14, 2022 S | 57,875 | 0 | 0 | $0 |
| Hugh M Grant | Director | Feb. 26, 2020 M | 24,913 | 0 | 0 | $0 |
| Albert E Smith | Director | Feb. 26, 2020 M | 47,570 | 0 | 0 | $0 |
| Li-San Hwang | Director | Nov. 28, 2005 M | 798,494 | 0 | 0 | $0 |
| James J Shelton | Director | March 1, 2004 A | — | 0 | 0 | $0 |
| Kirsten M Volpi | — | Aug. 4, 2026 M | 74,218 | 0 | 0 | $0 |
| Jeffrey R Feeler | — | May 15, 2026 P | 1,900 | 1 | 0 | $50,179 |
| Eric W Thornburg | — | April 27, 2026 A | — | 0 | 0 | $0 |
| Steven M Burdick | — | Nov. 30, 2025 M | 149,219 | 0 | 0 | $0 |
| Patrick C Haden | — | March 17, 2022 S | 3,062 | 0 | 0 | $0 |
| Richard H Truly | — | April 10, 2017 M | 13,220 | 0 | 0 | $0 |
| Michael A Bieber | — | Feb. 26, 2015 M | 10,796 | 0 | 0 | $0 |
| Douglas G Smith | — | Jan. 4, 2013 S | 7,942 | 0 | 0 | $0 |
| David W King | — | June 28, 2011 M | 6,330 | 0 | 0 | $0 |
| Donald I Rogers JR | — | Dec. 31, 2010 A | 25,102 | 0 | 0 | $0 |
| Patrick D Haun | — | Dec. 31, 2008 A | 1,668 | 0 | 0 | $0 |
| Sam W Box | — | Dec. 31, 2008 A | 32,491 | 0 | 0 | $0 |
| Daniel A Whalen | — | June 29, 2005 A | 374,992 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| PICTET ASSET MANAGEMENT SA ×2 filings | Oct. 17, 2025 | 4.90% | Amendment | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 102 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| RSMC · Tidal Trust III | 1.48% | 344,502 NS | April 30, 2026 | N-PORT |
| ABLD · Abacus FCF ETF Trust | 1.34% | 35,346 NS | April 30, 2026 | N-PORT |
| TBLU · Tortoise Capital Series Trust | 1.14% | 21,994 NS | May 31, 2026 | N-PORT |
| BUL · Pacer Funds Trust | 1.06% | 41,733 NS | April 30, 2026 | N-PORT |
| EIPI · First Trust Exchange-Traded Fund VI… | 1.04% | 400,000 NS | May 31, 2026 | N-PORT |
| MCOW · Pacer Funds Trust | 0.80% | 243 NS | April 30, 2026 | N-PORT |
| FFND · Northern Lights Fund Trust II | 0.77% | 28,659 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.53% | 20,678 NS | April 30, 2026 | N-PORT |
| FXR · First Trust Exchange-Traded AlphaDE… | 0.46% | 98,932 NS | April 30, 2026 | N-PORT |
| PAVE · Global X Funds | 0.39% | 1,914,460 NS | May 31, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.35% | 20,614 NS | May 31, 2026 | N-PORT |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.34% | 23,218 NS | May 31, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.34% | 32,823 NS | April 30, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.28% | 45,529 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.25% | 29,919 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.22% | 43,081 NS | April 30, 2026 | N-PORT |
| SMIZ · Zacks Trust | 0.21% | 19,630 NS | May 31, 2026 | N-PORT |
| SDVD · First Trust Exchange-Traded Fund IV | 0.20% | 50,949 NS | April 30, 2026 | N-PORT |
| AKAF · ETF Series Solutions | 0.19% | 203 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.17% | 4,319 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.16% | 101,627 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.16% | 9,013 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.15% | 112,463 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.13% | 435,727 NS | May 31, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.13% | 704,129 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.12% | 541,290 NS | April 30, 2026 | N-PORT |
| EMLP · First Trust Exchange-Traded Fund IV | 0.12% | 145,134 NS | April 30, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.12% | 73,867 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.11% | 1,259 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.08% | 12,532 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.08% | 7,208 NS | April 30, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.07% | 30,135 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.06% | 8,295 NS | May 31, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.05% | 87,411 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.04% | 5,344 NS | April 30, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.04% | 3,890 NS | May 29, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.04% | 25,179 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.04% | 10,546 NS | May 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.03% | 147,453 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.03% | 29,531 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.03% | 406,049 NS | April 30, 2026 | N-PORT |
| SCHV · SCHWAB STRATEGIC TRUST | 0.02% | 131,582 NS | May 31, 2026 | N-PORT |
| GVUS · Goldman Sachs ETF Trust | 0.02% | 2,612 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.02% | 67,321 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 10,010 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.02% | 54,914 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 74,730 NS | April 30, 2026 | N-PORT |
| SCHX · SCHWAB STRATEGIC TRUST | 0.01% | 279,836 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.01% | 8,874 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.01% | 20,923 NS | May 31, 2026 | N-PORT |