Tutor Perini (TPC) financial statements
Tutor Perini reported revenue of $5.5B in fiscal 2025, up 1.2% a year over 9 years.
Net income was $80M and the operating margin 4.2%, against 4.1% in 2016.
Free cash flow was $567M, and the company returned $3M in dividends.
The diluted share count rose 7% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Tutor Perini's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.0B | $4.8B | $4.5B | $4.5B | $5.3B | $4.6B | $3.8B | $3.9B | $4.3B | $5.5B |
| Cost of revenue | $4.5B | $4.3B | $4.0B | $4.2B | $4.8B | $4.2B | $3.8B | $3.7B | $4.1B | $4.9B |
| Gross profit | $457M | $454M | $454M | $242M | $486M | $466M | $30M | $141M | $197M | $648M |
| Selling, general and admin | $255M | $275M | $263M | $227M | $224M | $240M | $234M | $255M | $301M | $416M |
| Operating income | $202M | $179M | $192M | -$365M | $262M | $227M | -$205M | -$115M | -$104M | $232M |
| Interest expense | $60M | $69M | $64M | $67M | $76M | $69M | $70M | $85M | $89M | $55M |
| Pre-tax income | $149M | $154M | $133M | -$426M | $174M | $160M | -$268M | -$183M | -$173M | $205M |
| Income tax | $53M | -$569,000 | $35M | -$66M | $22M | $26M | -$75M | -$55M | -$51M | $61M |
| Net income | $96M | $148M | $83M | -$388M | $108M | $92M | -$210M | -$171M | -$164M | $80M |
| EPS (diluted) | $1.92 | $2.92 | $1.66 | -$7.72 | $2.12 | $1.79 | -$4.09 | -$3.30 | -$3.13 | $1.51 |
| Diluted shares | 50M | 51M | 50M | 50M | 51M | 51M | 51M | 52M | 52M | 53M |
| Gross margin | 9.2% | 9.6% | 10.2% | 5.4% | 9.1% | 10.0% | 0.8% | 3.6% | 4.6% | 11.7% |
| Operating margin | 4.1% | 3.8% | 4.3% | -8.2% | 4.9% | 4.9% | -5.4% | -3.0% | -2.4% | 4.2% |
| Net margin | 1.9% | 3.1% | 1.9% | -8.7% | 2.0% | 2.0% | -5.5% | -4.4% | -3.8% | 1.5% |
Balance sheet
Fiscal years, from Tutor Perini's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $146M | $193M | $116M | $194M | $374M | $202M | $259M | $381M | $455M | $735M |
| Receivables | $1.7B | $1.3B | $1.3B | $1.4B | $1.4B | $1.5B | $1.2B | $1.1B | $987M | $1.2B |
| Total current assets | $2.8B | $3.1B | $3.2B | $3.5B | $4.1B | $3.9B | $3.7B | $3.5B | $3.3B | $4.1B |
| Property, plant and equipment | $478M | $467M | $491M | $510M | $489M | $430M | $435M | $441M | $423M | $548M |
| Goodwill | $585M | $585M | $585M | $205M | $205M | $205M | $205M | $205M | $205M | $205M |
| Total assets | $4.0B | $4.3B | $4.4B | $4.5B | $5.0B | $4.7B | $4.5B | $4.4B | $4.2B | $5.2B |
| Total current liabilities | $1.5B | $1.6B | $1.6B | $2.1B | $2.3B | $1.8B | $2.0B | $2.1B | $2.3B | $3.2B |
| Long-term debt | $674M | $706M | $745M | $710M | $925M | $969M | $888M | $782M | $510M | $393M |
| Total liabilities | $2.5B | $2.6B | $2.6B | $3.1B | $3.5B | $3.1B | $3.1B | $3.1B | $3.1B | $3.9B |
| Shareholders' equity | $1.6B | $1.7B | $1.8B | $1.4B | $1.6B | $1.7B | $1.4B | $1.3B | $1.1B | $1.2B |
| Net debt | $613M | $543M | $645M | $641M | $651M | $791M | $699M | $519M | $79M | -$327M |
Cash flow
Fiscal years, from Tutor Perini's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $113M | $164M | $21M | $137M | $173M | -$148M | $207M | $308M | $504M | $748M |
| Capital spending | $16M | $30M | $77M | $84M | $55M | $39M | $60M | $53M | $37M | $181M |
| Free cash flow | $98M | $133M | -$56M | $52M | $118M | -$187M | $147M | $256M | $466M | $567M |
| Stock-based compensation | $13M | $21M | $23M | $19M | $12M | $12M | $9M | $12M | $40M | $150M |
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $3M |
| Net borrowing | -$209M | -$34M | $15M | $61M | $181M | -$37M | -$38M | -$62M | -$355M | -$131M |
| Free cash flow margin | 2.0% | 2.8% | -1.2% | 1.2% | 2.2% | -4.0% | 3.9% | 6.6% | 10.8% | 10.2% |
| Dividends per share | — | — | — | — | — | — | — | — | — | $0.06 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for TPC.
Open TPC in InvestinglyQuestions
What was Tutor Perini's revenue in 2025?
$5.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Tutor Perini generate?
$567M in fiscal 2025 (operating cash flow minus capital spending).
From Tutor Perini's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.