(TIC) Acuren - Overview
Sector: Industrials | Industry: Specialty Business Services | Exchange: NYSE (USA) | Market Cap: 1.883m USD | Total Return: -23.6% in 12m
Avg Turnover: 18.6M
Warnings
Share dilution 29.7% YoY
High Debt/EBITDA (7.6) with thin interest coverage (-0.4)
Interest Coverage Ratio -0.4 is critical
Altman Z'' 0.67 < 1.0 - financial distress zone
Fakeout Below Avwap Earnings
Tailwinds
No distinct edge detected
TIC Solutions, Inc., formerly Acuren Corporation, provides technical asset integrity services across North America, focusing on the Testing, Inspection, Certification, and Compliance (TICC) sector. The company utilizes nondestructive testing (NDT) methods-including radiography, ultrasonic, and magnetic particle inspection-to evaluate industrial infrastructure without causing damage. These services are critical for maintaining regulatory compliance and preventing mechanical failures in high-stakes industries such as aerospace, power generation, and petrochemicals.
The business model relies on recurring maintenance cycles and mandatory safety regulations, which typically provide more stable revenue streams than one-time construction projects. Beyond inspection, the firm integrates rope access technicians for difficult-to-reach maintenance and offers geospatial data analytics to support long-term infrastructure planning. Investors may find it useful to examine ValueRay for deeper insights into the company’s competitive positioning. This specialized niche within the Research & Consulting Services industry is driven largely by aging industrial infrastructure and tightening environmental safety standards.
- Aging North American industrial infrastructure increases demand for critical asset integrity testing
- Expansion into aerospace and renewable energy sectors diversifies revenue from traditional oil
- Skilled labor shortages and wage inflation pressure margins in specialized technician services
- Stringent environmental and safety regulations mandate recurring nondestructive testing and compliance
| Net Income: -102.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.52 > 1.0 |
| NWC/Revenue: 38.50% < 20% (prev 33.62%; Δ 4.88% < -1%) |
| CFO/TA 0.02 > 3% & CFO 100.9m > Net Income -102.9m |
| Net Debt (1.31b) to EBITDA (171.9m): 7.61 < 3 |
| Current Ratio: 3.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (157.6m) vs 12m ago 29.74% < -2% |
| Gross Margin: 29.54% > 18% (prev 0.22%; Δ 2.93k% > 0.5%) |
| Asset Turnover: 54.79% > 50% (prev 36.66%; Δ 18.13% > 0%) |
| Interest Coverage Ratio: -0.36 > 6 (EBITDA TTM 171.9m / Interest Expense TTM 100.6m) |
| A: 0.16 (Total Current Assets 1.02b - Total Current Liabilities 333.4m) / Total Assets 4.33b |
| B: -0.05 (Retained Earnings -235.7m / Total Assets 4.33b) |
| C: -0.01 (EBIT TTM -36.7m / Avg Total Assets 3.26b) |
| D: -0.11 (Book Value of Equity -237.3m / Total Liabilities 2.20b) |
| Altman-Z'' = 0.67 = B |
| DSRI: 0.75 (Receivables 344.2m/206.7m, Revenue 1.78b/799.3m) |
| GMI: 0.73 (GM 29.54% / 21.63%) |
| AQI: 0.95 (AQ_t 0.70 / AQ_t-1 0.73) |
| SGI: 2.23 (Revenue 1.78b / 799.3m) |
| TATA: -0.05 (NI -102.9m - CFO 100.9m) / TA 4.33b) |
| Beneish M = -2.67 (Cap -4..+1) = A |
As of May 30, 2026, the stock is trading at USD 8.17 with a total of 1,637,198 shares traded.
Over the past week, the price has changed by -4.11%,
over one month by -9.42%,
over three months by -13.73% and
over the past year by -23.64%.
Acuren has received a consensus analysts rating of 3.50. Therefore, it is recommended to hold TIC.
- StrongBuy: 0
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 11.8 | 44.3% |
P/E Forward = 26.3852
P/S = 1.0556
P/B = 0.8826
Revenue TTM = 1.78b USD
EBIT TTM = -36.7m USD
EBITDA TTM = 171.9m USD
Long Term Debt = 1.59b USD (from longTermDebt, last quarter)
Short Term Debt = 55.7m USD (from shortTermDebt, last quarter)
Debt = 1.73b USD (corrected: LT Debt 1.59b + ST Debt 55.7m) + Leases 93.6m
Net Debt = 1.31b USD (calculated: Debt 1.73b - CCE 426.6m)
Enterprise Value = 3.19b USD (1.88b + Debt 1.73b - CCE 426.6m)
Interest Coverage Ratio = -0.36 (Ebit TTM -36.7m / Interest Expense TTM 100.6m)
EV/FCF = 235.4x (Enterprise Value 3.19b / FCF TTM 13.6m)
FCF Yield = 0.42% (FCF TTM 13.6m / Enterprise Value 3.19b)
FCF Margin = 0.76% (FCF TTM 13.6m / Revenue TTM 1.78b)
Net Margin = -5.77% (Net Income TTM -102.9m / Revenue TTM 1.78b)
Gross Margin = 29.54% ((Revenue TTM 1.78b - Cost of Revenue TTM 1.26b) / Revenue TTM)
Gross Margin QoQ = 24.85% (prev 35.19%)
Tobins Q-Ratio = 0.74 (Enterprise Value 3.19b / Total Assets 4.33b)
Interest Expense / Debt = 5.80% (Interest Expense 100.6m / Debt 1.73b)
Taxrate = 21.0% (US default 21%)
NOPAT = -29.0m (EBIT -36.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.06 (Total Current Assets 1.02b / Total Current Liabilities 333.4m)
Debt / Equity = 0.81 (Debt 1.73b / totalStockholderEquity, last quarter 2.13b)
Debt / EBITDA = 7.61 (Net Debt 1.31b / EBITDA 171.9m)
Debt / FCF = 96.47 (Net Debt 1.31b / FCF TTM 13.6m)
Total Stockholder Equity = 1.86b (last 4 quarters mean from totalStockholderEquity)
RoA = -3.16% (Net Income -102.9m / Total Assets 4.33b)
RoE = -4.91% (Net Income TTM -102.9m / Total Stockholder Equity 2.10b)
RoCE = -1.00% (EBIT -36.7m / Capital Employed (Equity 2.10b + L.T.Debt 1.59b))
RoIC = -0.72% (negative operating profit) (NOPAT -29.0m / Invested Capital 4.02b)
WACC = 8.03% (E(1.88b)/V(3.62b) * Re(11.20%) + D(1.73b)/V(3.62b) * Rd(5.80%) * (1-Tc(0.21)))
Discount Rate = 11.20% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 65.93 | Cagr: 61.00%
[DCF] Terminal Value 75.44% ; FCFF base≈13.6m ; Y1≈13.6m ; Y5≈14.4m
[DCF] Fair Price = N/A (negative equity: EV 224.3m - Net Debt 1.31b = -1.08b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -3.01 | # QB: -1
Revenue Correlation: 91.46 | Revenue CAGR: 20.72% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.12 | Chg30d=-8.59% | Revisions=-20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.17 | Chg30d=-1.76% | Revisions=+20% | Analysts=3
EPS current Year (2026-12-31): EPS=0.29 | Chg30d=-36.59% | Revisions=-20% | GrowthEPS=+232.5% | GrowthRev=+43.4%
EPS next Year (2027-12-31): EPS=0.50 | Chg30d=-9.44% | Revisions=-20% | GrowthEPS=+72.2% | GrowthRev=+4.4%
[Analyst] Revisions Ratio: -20%