Tutor Perini
TPC on NYSE. Tutor Perini builds buildings and infrastructure for private customers and public agencies. Market value $4.5bn.
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
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $13.68 of spare cash in the past 12 months. A savings account pays about $4.
You pay 15.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns -5 cents a year. Above 10 is good.
Quality score: 39 of 100. Price score: 76 of 100. Our list needs 70 on quality and 60 on price.
$86.43 a share, 49% above its 1-year low
Over the past year the price has ranged from $57.90 to $102.30.
Dividend: 0.1% a year
Paid in its latest year
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $4.6bn | $3.8bn | $3.9bn | $4.3bn | $5.5bn |
| Operating margin | |||||
| Operating margin | 4.9% | -5.4% | -3.0% | -2.4% | 4.2% |
| Debt to equity | |||||
| Debt to equity | 0.60 | 0.66 | 0.70 | 0.47 | 0.33 |
| Shares outstanding | |||||
| Shares outstanding | 0.05bn | 0.05bn | 0.05bn | 0.05bn | 0.05bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)No
- Debt0.33× equity
- Revenue growth, five yearsSlow, 0.8% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.6 billion last quarter, up 19% on a year ago.
- Profit: $66 million, up 229% on a year ago.
- It keeps 4 cents of each $1 of sales as operating profit, after losing 1 cents a year earlier.
- Spare cash over the past 12 months: $621 million, up from $564 million.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- It has $542 million more cash than debt, up from $107 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $1.1bn |
| December 2024 | $1.1bn |
| March 2025 | $1.2bn |
| June 2025 | $1.4bn |
| September 2025 | $1.4bn |
| December 2025 | $1.5bn |
| March 2026 | $1.4bn |
| June 2026 | $1.6bn |
| Quarter to | Amount |
|---|---|
| September 2024 | -$101m |
| December 2024 | -$79m |
| March 2025 | $28m |
| June 2025 | $20m |
| September 2025 | $4m |
| December 2025 | $29m |
| March 2026 | $26m |
| June 2026 | $66m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 26 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 337 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Boston PartnersBoston Partners team | $47m | <0.1% | Added |
| Donald Smith & Co.Jon Hartsel | $40m | 0.7% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $5m | <0.1% | Cut |
| Miller Value PartnersBill Miller IV | $204,936 | <0.1% | Cut |
Largest holders overall
- BlackRock$358m
- American Century Companies$189mAdded
- Capital International Investors$187mAdded
- Vanguard Capital Management$164m
- First Trust Advisors LP$150mAdded
- Dimensional Fund Advisors LP$140mCut
- Gendell Jeffrey L$128mAdded
- Geode Capital Management$108mAdded
- State Street$89mAdded
- Principal Financial Group$79mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor12.8%+5.5 ptsSince 31 July 2026
- RONALD N. TUTORInsider or founderat least 8.2%−4.2 pts(filed with 3 related holders)Since 31 August 2026
What they said
The following information hereby is added to the existing disclosure: Since the last Amendment filed on March 3, 2026, the SPT, DT and TMPT disposed of 2,310,000 net shares of Common Stock beneficially owned by Mr. Tutor. As disclosed in his Schedule 13D/A previously filed with…
Read the filing - Donald Smith & Co.Passive investorat least 3.6%−1.9 pts(filed with 1 related holder)Since 30 September 2025
- Dimensional Fund Advisors LPPassive investorSold down below 5%Since 30 June 2025
- Global X Management CO LLCPassive investorSold down below 5%Since 31 March 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 12.8%+5.5 pts | 31 July 2026 | |
RONALD N. TUTOR Insider or founder | at least 8.2%−4.2 pts (filed with 3 related holders) | 31 August 2026 | What they saidThe following information hereby is added to the existing disclosure: Since the last Amendment filed on March 3, 2026, the SPT, DT and TMPT disposed of 2,310,000 net shares of Common Stock beneficially owned by Mr. Tutor. As disclosed in his Schedule 13D/A previously filed with… Read the filing |
Donald Smith & Co. Passive investor | at least 3.6%−1.9 pts (filed with 1 related holder) | 30 September 2025 | |
Dimensional Fund Advisors LP Passive investor | Sold down below 5% | 30 June 2025 | |
Global X Management CO LLC Passive investor | Sold down below 5% | 31 March 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 2 insiders bought $5m of shares on the open market. 4 sold $219m.
- TUTOR RONALD NDirectorSold
- Date
- 31 August 2026
- Shares
- 2,310,000
- Price
- $85.59
- Value
- $198m
- REISS DALE ANNEDirectorSold
- Date
- 27 August 2026
- Shares
- 13,400
- Price
- $92.04
- Value
- $1m
- FELTENSTEIN SIDNEY JDirectorSold
- Date
- 7 August 2026
- Shares
- 184,209
- Price
- $97.05
- Value
- $18m
- Lieber Robert CDirectorSold
- Date
- 27 May 2026
- Shares
- 17,500
- Price
- $75.36
- Value
- $1m
- Lieber Robert CDirectorSold
- Date
- 19 May 2026
- Shares
- 10,000
- Price
- $74.25
- Value
- $742,500
- ARKLEY PETERDirectorBought
- Date
- 6 March 2026
- Shares
- 8,117
- Price
- $73.02
- Value
- $592,701
- ARKLEY PETERDirectorBought
- Date
- 5 March 2026
- Shares
- 10,999
- Price
- $72.44
- Value
- $796,768
- ARKLEY PETERDirectorBought
- Date
- 4 March 2026
- Shares
- 5,884
- Price
- $73.85
- Value
- $434,533
- SMALLEY GARY G.CEO and President, DirectorBought
- Date
- 4 March 2026
- Shares
- 10,000
- Price
- $73.24
- Value
- $732,372
- ARKLEY PETERDirectorBought
- Date
- 25 November 2025
- Shares
- 15,147
- Price
- $64.39
- Value
- $975,352
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 31 August 2026 | TUTOR RONALD N Director | Sold | 2,310,000 | $85.59 | $198m |
| 27 August 2026 | REISS DALE ANNE Director | Sold | 13,400 | $92.04 | $1m |
| 7 August 2026 | FELTENSTEIN SIDNEY J Director | Sold | 184,209 | $97.05 | $18m |
| 27 May 2026 | Lieber Robert C Director | Sold | 17,500 | $75.36 | $1m |
| 19 May 2026 | Lieber Robert C Director | Sold | 10,000 | $74.25 | $742,500 |
| 6 March 2026 | ARKLEY PETER Director | Bought | 8,117 | $73.02 | $592,701 |
| 5 March 2026 | ARKLEY PETER Director | Bought | 10,999 | $72.44 | $796,768 |
| 4 March 2026 | ARKLEY PETER Director | Bought | 5,884 | $73.85 | $434,533 |
| 4 March 2026 | SMALLEY GARY G. CEO and President, Director | Bought | 10,000 | $73.24 | $732,372 |
| 25 November 2025 | ARKLEY PETER Director | Bought | 15,147 | $64.39 | $975,352 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have barely grown: 0.8% a year.
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
Your first deep dive is free.
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.