TEAM INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TEAM INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,197	1,200	1,247	1,163	853	794	840	863	852	896
Cost of revenue	868	890	919	836	614	617	639	651	629	665
Gross profit	329	310	328	328	239	178	202	211	223	232
Selling, general and administrative	324	348	361	328	261	246	241	224	213	218
Operating income	-3.12	-115	-39	-2.15	-217	-127	-39.8	-13.3	10.1	14.1
Interest expense	12.7	21.5	30.9	29.7	29.8	46.1	85.1	55.2	47.8	44.7
Other non-operating income	0.13	-0.51	0.41	-0.72	-2.51	-3.05	8.16	-1.1	2.68	-2.89
Pre-tax income	-15.7	-138	-94.2	-32.9	-252	-176	-147	-71.1	-35	-46.6
Income tax	-3.09	-53.1	-31.1	-0.44	-14.7	8.77	3.31	4.58	3.28	2.58
Income from continuing operations	-12.6	-84.5	-63.1	-32.4	-237	-185	-150	-75.7
Net income to minority interests	0	0
Net income	-12.7	-84.5	-63.1	-32.4	-237	-186	70.1	-75.7	-38.3	-49.2
EBITDA	45.6	-63	25.9	46.9	-171	-85.4	-2.21	24.6	46.4	48.2
EPS, basic	-4.50	-28.28	-20.98	-10.69	-77.34	-60.05	16.73	-17.32	-8.64	-11.70
EPS, diluted	-4.50	-28.28	-20.98	-10.69	-77.34	-60.05	16.73	-17.32	-8.64	-11.70
Shares, basic (weighted)	2.81	2.99	3.01	3.03	3.07	3.1	4.19	4.37	4.43	4.5
Shares, diluted (weighted)	2.81	2.99	3.01	3.03	3.07	3.1	4.19	4.37	4.43	4.5

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	46.2	26.6	18.3	12.2	24.6	55.2	58.1	35.4	35.5	18.1
Receivables	263	302	268	246	194	168	187	181	173	178
Inventory	49.6	49.7	48.5	39.2	36.9	35.4	36.3	38.9	37.9	41.4
Other current assets	25.8	18	19.4	20.3	13.8	6.52	11.4	8.59	3.83	3.91
Total current assets	401	397	355	318	284	402	348	322	305	266
Property, plant and equipment	203	203	195	192	170	145	138	127	113	111
Lease right-of-use assets			0	67	63.9	58.5	48.5	40.5	40.4	49.8
Goodwill	356	285	282	282	91.4	0	0
Intangible assets	176	160	131	117	103	88.3	75.4	62.7	50.2	37.8
Other non-current assets	4.83	5.8	7.4	4.43	11.6	8.39	6.35	7.85	13.4	14
Total assets	1,147	1,056	978	985	731	707	617	566	528	485
Accounts payable	47.8	55.3	44.1	41.6	42.1	44.1	32.5	36.4	42.1	42
Accrued liabilities	79.9	92.5	95.3	86.5	73.1	112	119	118	105	56.7
Deferred revenue	3.43							0
Short-term debt	20	0	0.57	5.29	0.34	0.67	281	5.21	6.49	3.86
Total current liabilities	148	148	140	151	133	188	449	175	171	120
Long-term debt	347	388	357	325	312	405	4.94	306	319	293
Lease liabilities			0	54.4	52.2	47.6	38.8	30	28.6	35.9
Other non-current liabilities	2.59	9.76	6.91	1.96	9.35	9.8	2.6	3.29	3.16	3.69
Total liabilities	612	579	521	549	516	655	499	520	527	458
Total debt	367	388	357	331	312	313	239	306	320	289
Paid-in capital	337	353	401	409	423	453	457	459	460	476
Retained earnings	219	135	81.5	48.7	-190	-376	-302	-377	-416	-465
Treasury stock	0
Other comprehensive income	-29	-19.8	-34.4	-30.2	-27.7	-26.7	-39	-36.9	-44.1	-36.8
Shareholders' equity	536	477	457	437	215	51.9	118	45.6	1.74	-24.5
Total equity	536	477	457	437	215	51.9	118	45.6	1.74	-24.5
Total liabilities and equity	1,147	1,056	978	985	731	707	617	566	528	485
Shares outstanding						31.2	4.34	4.42	4.49	4.53

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-12.7	-104	-63.1	-32.4	-237	-186	70.1	-75.7	-38.3	-49.2
Depreciation and amortization	48.7	52.1	64.9	49.1	45.9	41.5	37.6	37.9	36.3	34.1
Stock-based compensation	7.31	7.88	12.3	10.1	6.31	7.01	0.25	1.59	2.27	0.8
Deferred income tax	-4.24	-66.2	-31.7	-3.19	-3.92	4.75	1.69	1.28	-1.02	-0.05
Change in receivables	16.5	-39.8	15.4	27.2	46.1	0.7	-33.5	7.34	3.74	-3.64
Change in inventory	2.12	0.61	-0.02	9.55	2.7	0.53	-1.66	-2.06	-0.04	-2.64
Change in payables	8.36	6.42	-8.99	-5.36	3.78	1.18	-13.3	2.82	6.58	-2.93
Cash from operations	79.6	-13.7	41.9	58.8	52.8	-35.5	-57.9	-11	22.8	-11.3
Capital expenditures	-45.8	-36.8	-27.2	-29	-20	-17.6	-24.7	-10.4	-9.47	-9.29
Acquisitions	-48.4	0	0	0	-1.01	0
Cash from investing	-75.8	-34	-25	-28.1	-18.3	-14.1	243	-10	-9.3	-9.06
Debt repaid					-129
Stock issued	5.24	0	0			0	9.64	0
Share buybacks	-7.59	0	0
Cash from financing	-6.01	25.6	-23	-36.8	-23.5	91.9	-192	-1.9	-12.7	2.81
Exchange rate effect	-1.33	2.47	-2.06	-0.04	1.41	-1.59	-0.69	0.25	-0.6	0.2
Net change in cash	-3.61	-19.7	-8.26	-6.11	12.4	40.7	-7.24	-22.6	0.12	-17.4
Free cash flow	33.8	-50.5	14.7	29.8	32.8	-53.1	-82.6	-21.4	13.3	-20.6
Interest paid	12.2	13.2	24.9	22.7	23.6	28.2	29.2	19.5	24.9	30.3
Income taxes paid	-2.74	5.72	2.72	-3.54	-10	5.83	-0.55	3.92	2.41	2.88

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $29.06 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	24.7%	Gross profit / revenue.
Operating margin	0.8%	Operating income / revenue.
EBITDA margin	4.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-3.6%	Pre-tax income / revenue.
Net margin	-3.7%	Net income / revenue.
FCF margin	0.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	1.4%	Cash from operations / revenue.
Return on assets (ROA)	-6.7%	Net income / average total assets.
Return on invested capital (ROIC)	2.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	22.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.3%	Capital expenditures / revenue.
D&A / revenue	3.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-0.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	38.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	3.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-149.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-255.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-1,509.0%	Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y	-8.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-7.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-7.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	8.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.29x	Current assets / current liabilities.
Quick ratio	1.73x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.20x	(Cash + short-term investments) / current liabilities.
Debt / assets	63.7%	Total debt / total assets.
Liabilities / assets	98.4%	Total liabilities / total assets.
Net debt	$291.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	7.14x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.17x	Operating income / interest expense.
Working capital	$164.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	6.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$81.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.79x	Revenue / average total assets.
Fixed asset turnover	8.39x	Revenue / average property, plant and equipment.
Inventory turnover	15.7x	Cost of revenue / average inventory.
Days inventory	23 days	365 x average inventory / cost of revenue.
Receivables turnover	4.61x	Revenue / average receivables.
Days sales outstanding	79 days	365 x average receivables / revenue.
Days payables	21 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	81 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	93.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$7.30	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$195.48	Revenue / diluted weighted shares.
FCF per share	$0.17	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.68	Cash from operations / diluted weighted shares.
Book value per share	-$10.87	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$17.78	Tangible book value / shares outstanding.
Cash per share	$5.68	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$133.2M	Share price x shares outstanding.
Enterprise value	$424.8M	Market cap + total debt - cash - short-term investments.
P/S	0.15x	Market cap / revenue.
P/FCF	168x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.9x	Market cap / cash from operations, when positive.
EV/Sales	0.48x	Enterprise value / revenue.
EV/EBIT	62.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	536x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.6%	Free cash flow / market cap.
Earnings yield	-25.1%	Net income / market cap (the inverse of P/E).

What was TEAM INC's revenue in fiscal 2025?

TEAM INC reported revenue of $896.5M for fiscal 2025, 5.2% higher than the year before.

Was TEAM INC profitable in fiscal 2025?

No. It reported a net loss of $49.2M.

How much free cash flow did TEAM INC generate in fiscal 2025?

Cash from operations of $11.3M minus capital expenditures of $9.3M left free cash flow of -$20.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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