EXPONENT, INC. vs TETRA TECH, INC., two Consulting stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Exponent is a witness stand with an income statement, elite engineers billed into disputes and investigations at a 24.9% operating margin; Tetra Tech is a field army, environmental and water engineering delivered at 10.8%. The margin gap is the business model, not the execution, and the returns say both execute: 32.2% and 23.6% on equity. The market pays 28.4 times for the boutique and 17.5 for the army, while the army returns more cash, an 8.7% free-cash yield against 3.7%. Exponent's premium is scarcity pricing on expertise; Tetra Tech's discount comes with twice the yield and half the exclusivity. Neither number is an error.
Comparison updated 2026-07-10.
| Metric | EXPO | TTEK |
|---|---|---|
| Price | $60.81 | $29.25 |
| Market cap | $3.0B | $7.7B |
| Sector | Consulting | Consulting |
| Stage | Mature | Mature |
| Implied growth (priced in) | +15.5% | +3.4% |
| P/E | 28.4 | 17.5 |
| P/B | 9.01 | 4.11 |
| P/S | 5.06 | 1.49 |
| EV/EBITDA | 23.1 | 12.3 |
| Revenue growth | +7.8% | -6.0% |
| Gross margin | — | 17.6% |
| Operating margin | 24.9% | 10.8% |
| Net margin | 18.1% | 8.6% |
| Return on equity | 32.2% | 23.6% |
| Return on assets | 15.8% | 10.1% |
| Return on invested capital | 24.1% | 16.6% |
| FCF yield | 3.7% | 8.7% |
| Dividend yield | 2.0% | 0.8% |
| Debt / equity | 0.00 | 0.47 |
| Current ratio | 2.40 | 1.25 |
| Altman Z (solvency) | 8.05 | 7.99 |
| Piotroski F (quality) | 6 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.