Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026

Tutor Perini Corp (TPC)

A forensic read on Tutor Perini Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

2.9

Distress distance

Clean

Earnings quality

Forensic signals

40.6

P / E (ttm)

6.6%

ROE

$5.2B

Market cap

0.38%

Dividend yield

28.1%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Tutor Perini Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.9, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.

What the filings flag

+1.3%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +4% over the last 3 years to FY2025 (+1.3%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~4%.

13.5%

FY2025

Return on invested capital. Return on invested capital is 13.5% in the latest fiscal year and rising from -7% — a modest positive spread over its ~9% cost of capital — growth adds value, though not dramatically.

$380M

FY2019–FY2019

Goodwill impairments. Took $380M of goodwill writedowns across 1 year (FY2019 ($380M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$5.54B

Revenue Growth YoY+28.1%

Revenue CAGR (3yr)+13.5%

Net Margin1.5%

Free Cash Flow$567.2M

Return on Equity6.6%

Debt / Equity0.33x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.