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TIC Solutions

TIC on NYSE. TIC Solutions sells testing, inspection, certification and engineering services to industrial and government clients. Market value $1.8bn.

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Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

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Cash yield
past 12 months to June 2026
1.2%low

For every $100 of what the whole company costs, it produced $1.23 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 6 of 100. Our list needs 70 on quality and 60 on price.

$8.26 a share, 30% above its 1-year low

Over the past year the price has ranged from $6.36 to $14.65.

Pays no dividend

Prices from Monday’s close (5 October).

Five years of cash, in billions

0.1
0.0
202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $22 million in the past 12 months, $61 million in the year to December 2025.

Revenue
$1.5bn
Operating margin
-1.1%
Debt to equity
0.76
Shares outstanding
0.22bn

Health checks

  • Free cash flow positive1 of 1 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)Not enough data
  • Profit backed by cash (accruals)Not enough data
  • Debt0.76× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $584 million last quarter, up 86% on a year ago.
  • A loss of $13 million, compared with a loss of $233,000 a year ago.
  • Debt is $1.3 billion more than cash, up from $621 million a year ago.
Sales by quarter
Sales by quarter
Quarter toAmount
March 2025$234m
June 2025$314m
September 2025$474m
December 2025$508m
March 2026$488m
June 2026$584m
Profit by quarter
Profit by quarter
Quarter toAmount
March 2025-$26m
June 2025-$233,000
September 2025-$14m
December 2025-$47m
March 2026-$42m
June 2026-$13m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
12 March 2026
Next quarterly (estimated, 10-Q)
5 November 2026

Who owns it

3 long-term investors we follow own it, down from 4 last quarter. 213 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

9 investors own more than 5%.

  • Ott David C.
    Passive investor
    28.3%
    Since 31 March 2025
  • Mariposa Acquisition IX, LLC
    Strategic holder
    16.4%
    Since 14 May 2025
    What they said

    Item 4 of the Statement is supplemented as follows: Merger Agreement On May 14, 2025, the Issuer entered into an Agreement and Plan of Merger by and among the Issuer, NV5 Global, Inc., a Delaware corporation ("NV5"), Ryder Merger Sub I, Inc., a Delaware corporation ("Merger Sub…

    Read the filing
  • Viking Global Investors
    Passive investor
    at least 16.2%−12.1 pts
    (filed with 9 related holders)
    Since 31 March 2026
  • at least 9.9%+1.2 pts
    (filed with 4 related holders)
    Since 14 February 2025
  • at least 9.5%
    (filed with 2 related holders)
    Since 31 December 2025
  • Gates Capital Management GP, LLC
    Passive investor
    at least 8.8%−1.1 pts
    (filed with 2 related holders)
    Since 30 June 2026
  • Sir Martin E. Franklin
    Insider or founder
    at least 7.0%−2.9 pts
    (filed with 1 related holder)
    Since 31 December 2025
    What they said

    Item 4 is hereby amended by the addition of the following: On December 31, 2025, the Issuer declared, and on January 2, 2026, Mariposa Acquisition IX, LLC ("Mariposa") was issued, 668,347 shares of Common Stock by the Issuer (the "2025 Dividend Shares") as a dividend on the…

    Read the filing
  • Progeny 3, Inc.
    Passive investor
    at least 6.9%−5.4 pts
    (filed with 1 related holder)
    Since 31 December 2025
  • BlackRock, Inc.
    Passive investor
    5.7%
    Since 30 June 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $502,634.

  • Tong Richard
    General Counsel
    Sold
    Date
    18 November 2025
    Shares
    52,467
    Price
    $9.58
    Value
    $502,634

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.