TIC Solutions, Inc. (TIC)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$2.1B

Net income, last twelve months

-$116.0M

Gross margin

33.9%

Operating margin

-2.2%

Net margin

-5.6%

Free cash flow

$22.2M

Return on equity

-5.5%

Market value

$2.2B

Dividend yield

102.9%

Cash

$362.4M

Debt

$1.6B

Debt to equity

0.77

Shares outstanding

219.0M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter 2026 results, filed 6 August 2026.

• Revenue rose on NV5 inclusion. Second quarter revenue was $584.3 million, up 86% from $313.9 million a year earlier, primarily reflecting NV5 results. Combined revenue rose 3.3%, including 2.5% organic growth.
• Net loss and EPS widened. Net loss was $13.3 million against $0.2 million a year earlier, a diluted loss of $(0.06) per share. Adjusted diluted EPS was $0.14.
• Adjusted EBITDA up 74%. Adjusted EBITDA was $94.8 million against $54.6 million, a 16.2% margin versus 17.4% a year earlier. Management attributes the increase primarily to NV5 results.
• Six-month figures on same basis. Six-month revenue was $1,072.4 million and Adjusted EBITDA $152.6 million, a 14.2% margin, against $548.1 million, $80.4 million and 14.7% a year earlier.
• First quarter comparison point. The first quarter release reported revenue of $488.0 million, up 108% on first quarter 2025, with Adjusted EBITDA of $57.7 million.
• Consulting & Engineering revenue rose. Consulting & Engineering revenue was $206.6 million against $176.9 million combined a year earlier; adjusted gross margin was 47.2% versus 46.5%.
• Inspection & Mitigation revenue lower. Inspection & Mitigation revenue was $296.7 million against $313.9 million for legacy Acuren a year earlier; adjusted gross margin was 28.3% versus 28.8%.
• Geospatial revenue and margin up. Geospatial revenue was $81.0 million against $75.1 million combined a year earlier; adjusted gross margin was 51.5% versus 47.9%.
• Operations span two regions. The company operates across North America and select international markets, with three reportable segments: Inspection & Mitigation, Consulting & Engineering, and Geospatial.
• Demand seen in key end markets. Management said it is seeing significant demand across its key end markets, particularly Industrials, Power & Utilities and Data Centers.
• Recurring, compliance-driven service mix. Management describes services as frequently non-discretionary, compliance-driven and typically recurring, delivered by more than 12,000 professionals across over 250 locations.
• Public-sector and data center exposure. The client base includes federal, state and municipal public-sector customers, with exposure to data centers and other high-growth industries.
• Adjusted SG&A rose to 22.1%. Adjusted SG&A was $129.3 million, or 22.1% of revenue, against 11.6% of legacy Acuren revenue a year earlier; six-month ratio was 23.5% against 12.8%.
• Combined gross margin improved. Adjusted gross margin was 38.2% against 36.8% on a combined basis, with adjusted gross profit of $223.3 million for the quarter.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

By region, FY2025

Company events

The newest 8-K filings of 22 held.

Every filing

The newest filings with the SEC of 76 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

254 funds held it at 30 Jun 2026: 101 added and 65 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Visa Inc. (V): revenue $44.5B, market value $761.1B
• Mastercard Inc. (MA): revenue $35.1B, market value $539.5B
• Alibaba Group Holding Limited (BABA): revenue $144.2B, market value $234.6B
• Accenture plc (ACN): revenue $74.2B, market value $147.6B
• Uber Technologies, Inc. (UBER): revenue $55.2B, market value $133.2B
• PDD Holdings Inc. (PDD): revenue $60.1B, market value $110.3B
• MercadoLibre, Inc. (MELI): revenue $35.2B, market value $84.8B
• DoorDash, Inc. (DASH): revenue $15.9B, market value $74.5B
• RELX PLC (RELX): revenue $12.7B, market value $70.5B
• Ebay Inc. (EBAY): revenue $12.0B, market value $52.5B

What the company does

TIC Solutions, Inc. provides testing, inspection, certification and compliance (TICC), engineering and geospatial services for industrial assets, buildings and public infrastructure. The company calls itself a leading provider of tech-enabled services in these areas. It is headquartered in Hollywood, Florida, operates primarily in the United States and Canada, and has operations in Europe, Asia and the Middle East. On 31 December 2025 it had 12,760 employees. It completed its acquisition of NV5 Global, Inc. on 4 August 2025 and changed its name from Acuren Corporation on 10 October 2025.

How the business is organised

The company reports three operating segments: Inspection and Mitigation, Consulting Engineering and Geospatial. Inspection and Mitigation holds the legacy testing, inspection, certification and compliance services in the United States, Canada and the United Kingdom. Consulting Engineering and Geospatial came with the NV5 acquisition. The Chief Executive Officer, who is the chief operating decision-maker, set up this three-segment structure effective 4 August 2025.

What it sells

Inspection and Mitigation covers Nondestructive Testing (NDT) and Rope Access Technician (RAT) solutions. NDT evaluates industrial equipment without damaging it, using radiography, ultrasonic testing, magnetic particle inspection, penetrant testing and visual inspection. RAT crews reach hard-to-access areas without traditional scaffolding. They also carry out insulation, coatings and blasting, welding, pipe fitting, hoisting and rigging, and electrical work.

Consulting Engineering covers engineering design, conformity assessment, infrastructure engineering, building and technology design, environmental consulting, and materials engineering and testing. The work spans transportation systems, utilities, water and environmental infrastructure, data centers, building systems, clean energy conversion and fire protection. In-house laboratories support destructive testing, failure investigation, and corrosion and welding engineering.

Geospatial collects and analyses data with LiDAR, imaging, remote sensing and unmanned aerial systems. It delivers mapping, vegetation management, shoreline and floodplain monitoring, and utility asset inspection. It also sells subscription-based geospatial software.

The company says it generally does not manufacture or sell products. It supplies skilled labor, and its technicians use equipment and consumables such as film, penetrant and polishing media.

Who it sells to

Private-sector clients span industrial, infrastructure, construction and commercial real estate markets. Public-sector clients include federal, state and municipal agencies, public utilities, transportation authorities and environmental regulators. Industrial work covers energy processing and refining, pipelines and midstream, chemicals, manufacturing, power generation, aerospace, automotive, renewable energy, pulp and paper, and mining.

By segment, Inspection and Mitigation clients are primarily industrial operators, usually under multi-year master service agreements covering inspection, maintenance and turnaround work. Consulting Engineering clients include government agencies, public utilities, industrial facilities and building owners. Geospatial clients include defense and intelligence agencies, civil agencies, state and local governments, utilities and transportation operators.

How it gets paid

Contracts are priced on time-and-materials, cost-plus, fixed-price or unit-rate terms. Inspection and Mitigation work is primarily time-and-materials or cost-plus. Fixed-price contracts make up the majority of revenue in Consulting Engineering and Geospatial. Geospatial also sells software subscriptions.

Contracts and master service agreements generally run from a few days to five years. Substantially all may be terminated by either party on short notice. Inspection and Mitigation revenue is lowest at the start of the year and in North American winter months, and higher in summer and fall.

How it competes

The company describes its markets as highly competitive and fragmented, with relatively few barriers to entry. Competitors range from small owner-operated businesses in narrow regions to large national companies. In geospatial it also competes with firms offering aerial imaging, remote sensing and software.

Customers choose on price, service, technical expertise and experience, quality, safety performance, response time and reputation. The company says it believes its technical capabilities, broad geographic reach, skilled labor force and engineering and software expertise let it compete.

The business is subject to regulation by agencies including the Occupational Safety and Health Administration and the Environmental Protection Agency. Work for US government agencies carries its own contracting rules.

Its people

Of the 12,760 employees, 11,084 are permanent and 1,676 are temporary. In the United States there are 7,381 employees and in Canada 3,947. Another 1,644 employees are represented by unions under collective bargaining agreements.

The company runs safety management systems and uses the International Oil and Gas Producers "Life Saving Rules". Benefits include a 401(k) retirement plan, healthcare and insurance, health savings accounts and paid time off.

*From TIC Solutions's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/2032966/000162828026017015/tic-20251231.htm)*

From the company's 10-K.