Forensic Analysis · General / Diversified · as of Jun 27, 2026
TIC Solutions, Inc. (TIC)
A forensic read on TIC Solutions, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Grey Zone
Financial health
1.9
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-5.5%
ROE
$1.8B
Market cap
TIC Solutions, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 1.9, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+62.0%Accruals ratio.Net operating assets grew +62.0% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran behind operating cash by -7% of net operating assets.
-0%Return on invested capital.Return on invested capital is -0% and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 28% of free cash flow in FY2025. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-5.7%
Debt / Equity0.74x
Free Cash Flow$61.3M
Latest Revenue$1.53B
Return on Equity-4.0%
Revenue Growth YoY+45.7%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on TIC Solutions, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about TIC's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown