TUTOR PERINI CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TUTOR PERINI CORP 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	4,973	4,757	4,455	4,451	5,319	4,642	3,791	3,880	4,327	5,543
Cost of revenue	4,516	4,303	4,000	4,209	4,833	4,175	3,761	3,740	4,130	4,896
Gross profit	457	454	454	242	486	466	29.6	141	197	648
General and administrative	255	275	263	227	224	240	234	255	301	416
Operating income	202	179	192	-365	262	227	-205	-115	-104	232
Interest expense	59.8	69.4	63.5	67.5	76.2	69	69.6	85.2	89.1	55
Other non-operating income	6.98	43.9	4.26	6.67	-11.9	2	6.73	17.2	19.9	27.5
Pre-tax income	149	154	133	-426	174	160	-268	-183	-173	205
Income tax	53.3	-0.57	34.8	-65.6	21.9	25.6	-75.1	-55	-50.7	61.4
Net income to minority interests		6.16	14.3	27.5	43.9	42.2	17.4	43.6	41.4	62.6
Net income	95.8	148	83.4	-388	108	91.9	-210	-171	-164	80.4
EBITDA	269	231	239	-300	369	345	-140	-69.4	-50	282
EPS, basic	1.95	2.99	1.67	-7.72	2.14	1.80	-4.09	-3.30	-3.13	1.53
EPS, diluted	1.92	2.92	1.66	-7.72	2.12	1.79	-4.09	-3.30	-3.13	1.51
Shares, basic (weighted)	49.2	49.6	50	50.2	50.7	51	51.3	51.8	52.3	52.7
Shares, diluted (weighted)	49.9	50.8	50.3	50.2	51.1	51.4	51.3	51.8	52.3	53.4
Dividend per share										0.06

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	146	193	116	194	374	202	259	381	455	735
Receivables	1,743	1,266	1,261	1,355	1,415	1,454	1,171	1,054	987	1,219
Other current assets	66	89.3	116	197	249	187	179	218	193	411
Total current assets	2,838	3,074	3,176	3,511	4,080	3,862	3,679	3,521	3,287	4,117
Property, plant and equipment	478	467	491	510	489	430	435	441	423	548
Lease right-of-use assets				40.2	55.9	53.5	50.8	48.9	41.7	58.6
Goodwill	585	585	585	205	205	205	205	205	205	205
Intangible assets	93	89.5	85.9	155	123	85.1	70.5	68.3	66.1	63.8
Other non-current assets	45.2	47.8	50.5	105	148	143	137	120	119	130
Total assets	4,039	4,264	4,388	4,486	5,046	4,725	4,543	4,430	4,243	5,160
Accounts payable	994	700	622	683	795	512	495	467	631	725
Accrued liabilities	108	132	174	207	215	210	180	214	220	396
Deferred revenue		457	573	844	839	762	976	1,104	1,217	1,839
Short-term debt	85.9	30.7	16.8	124	100	24.4	70.3	117	24.1	14.6
Total current liabilities	1,519	1,582	1,598	2,110	2,264	1,777	1,968	2,125	2,333	3,239
Long-term debt	674	706	745	710	925	969	888	782	510	393
Lease liabilities				31.9	51.3	50.1	49.2	47.8	38.6	51.8
Other non-current liabilities	162	163	152	199	230	234	240	238	241	265
Total liabilities	2,486	2,559	2,600	3,055	3,503	3,051	3,101	3,146	3,084	3,898
Total debt	760	736	762	834	1,025	994	958	900	534	407
Paid-in capital	1,076	1,084	1,103	1,118	1,127	1,133	1,141	1,146	1,147	1,149
Retained earnings	474	622	702	314	422	514	304	133	-30.6	46.4
Other comprehensive income	-45.4	-42.7	-45.4	-42.1	-46.7	-43.6	-47	-39.8	-34	-29.2
Shareholders' equity	1,553	1,713	1,809	1,440	1,554	1,655	1,450	1,292	1,135	1,219
Minority interests		-8.5	-21.3	-9.62	-10.9	18.8	-7.73	-7.68	23.9	44
Total equity	1,553	1,705	1,788	1,431	1,543	1,674	1,442	1,284	1,159	1,263
Total liabilities and equity	4,039	4,264	4,388	4,486	5,046	4,725	4,543	4,430	4,243	5,160
Shares outstanding	49.2	49.8	50	50.3	50.8	51.1	51.5	52	52.5	52.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	95.8	155	97.8	-360	152	134	-193	-128	-122	143
Depreciation and amortization	67.3	51.9	47.3	65	107	118	64.4	45.2	53.8	49.8
Stock-based compensation	13.4	21.2	22.8	19.1	11.8	11.6	9.07	12.3	40.4	150
Deferred income tax	-10.2	-23.1	-0.45	-71.6	48.3	-13.9	-79.4	-64.8	-78	46.9
Change in receivables	-185	-91.1	3.9	-82	-105	-32	276	116	66.9	-230
Change in payables	3.03	-35.8	-78.2	54	112	-283	-15.8	-28.8	165	93.5
Cash from operations	113	164	21.4	137	173	-148	207	308	504	748
Capital expenditures	-15.7	-30.3	-77.1	-84.2	-54.8	-38.6	-59.8	-53	-37.4	-181
Purchases of investments		-61	-20.8	-35.2	-31.3	-30.8	-23.9	-48.4	-35.6	-125
Sales and maturities of investments					25.2	24.8	9.49	13	27.6	39.5
Cash from investing	-13.8	-87.1	-70.2	-76.1	-46.4	-37.3	-65.6	-78.2	-40.7	-257
Debt issued	1,354	2,161	1,753	932	1,301	741	694	712	787	188
Debt repaid	-1,563	-2,195	-1,738	-870	-1,120	-778	-732	-774	-1,142	-319
Dividends paid								0	0	-3.17
Cash from financing	-24.2	-75.4	-29	21.8	123	-54.7	-78.9	-109	-393	-185
Net change in cash	75.3	1.04	-77.8	82.2	250	-240	62.4	121	69.5	306
Free cash flow	97.6	133	-55.7	52.3	118	-187	147	256	466	567
Interest paid	47.4	50.4	51.1	56.1	57	63.8	64.8	80.3	73.7	50.4
Income taxes paid	26.9	39.8	13.7	43.4	11.2	-8.3	9.95	0.83	18.1	8.71

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $94.70 on November 9, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	11.8%	Gross profit / revenue.
Operating margin	5.6%	Operating income / revenue.
EBITDA margin	6.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.3%	Pre-tax income / revenue.
Net margin	2.3%	Net income / revenue.
FCF margin	10.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.4%	Cash from operations / revenue.
Effective tax rate	26.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	10.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.5%	Net income / average total assets.
Return on invested capital (ROIC)	43.7%	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%.
Stock-based pay / revenue	1.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	28.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	13.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	228.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	179.6%	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	5.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 5y	-2.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-5.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 5y	-5.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 5y	-6.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	48.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	53.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	34.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	21.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	56.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	36.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-5.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-4.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	21.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.3%	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	0.5%	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	2.1%	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	1.3%	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	0.9%	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	1.27x	Current assets / current liabilities.
Quick ratio	0.67x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.30x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.31x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	7.0%	Total debt / total assets.
Liabilities / assets	76.0%	Total liabilities / total assets.
Net debt	-$707.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-1.78x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	7.36x	Operating income / interest expense.
Working capital	$1.00B	Current assets - current liabilities.
Goodwill and intangibles / assets	4.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.03B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.09x	Revenue / average total assets.
Fixed asset turnover	10.3x	Revenue / average property, plant and equipment.
Receivables turnover	4.63x	Revenue / average receivables.
Days sales outstanding	79 days	365 x average receivables / revenue.
Days payables	58 days	365 x average accounts payable / cost of revenue.
FCF conversion	477.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	19.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.64	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	$117.01	Revenue / diluted weighted shares.
FCF per share	$12.58	Free cash flow / diluted weighted shares.
Operating cash flow per share	$15.69	Cash from operations / diluted weighted shares.
Book value per share	$24.75	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.67	Tangible book value / shares outstanding.
Cash per share	$21.14	(Cash + short-term investments) / shares outstanding.
Payout ratio	10.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	2.1%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.98B	Share price x shares outstanding.
Enterprise value	$4.27B	Market cap + total debt - cash - short-term investments.
P/E	35.3x	Market cap / net income. Only when net income is positive.
P/S	0.80x	Market cap / revenue.
P/B	3.83x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.81x	Market cap / tangible book value, when positive.
P/FCF	7.40x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	5.94x	Market cap / cash from operations, when positive.
EV/Sales	0.68x	Enterprise value / revenue.
EV/EBIT	12.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.8x	Enterprise value / EBITDA, when both are positive.
EV/FCF	6.35x	Enterprise value / free cash flow, when both are positive.
FCF yield	13.5%	Free cash flow / market cap.
Earnings yield	2.8%	Net income / market cap (the inverse of P/E).
Dividend yield	0.3%	Dividends paid over the period / market cap.
Shareholder yield	0.3%	(Dividends paid + share buybacks) / market cap.

What was TUTOR PERINI CORP's revenue in fiscal 2025?

TUTOR PERINI CORP reported revenue of $5.54B for fiscal 2025, 28.1% higher than the year before.

Was TUTOR PERINI CORP profitable in fiscal 2025?

Yes. Net income was $80.4M, a net margin of 1.5%.

How much free cash flow did TUTOR PERINI CORP generate in fiscal 2025?

Cash from operations of $748.1M minus capital expenditures of $180.9M left free cash flow of $567.2M.

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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