TETRA TECH, INC. vs V2X, Inc., two Consulting stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in favors the order book over the margin book: V2X at 25.9 times earnings carries the premium for contracted defense logistics, while Tetra Tech at 17.5 times gets the discount despite tripling V2X's operating margin, 10.8% against 3.5%, and its return on assets, 10.1% against 2.8%. Tetra Tech also converts more price into cash, an 8.7% free-cash yield against 6%, pays the only dividend, and carries half the leverage. The eight-turn premium on the weaker economics is a duration bet: military operations contracts renew through any administration, environmental consulting rides policy winds. Revenue that cannot be canceled is commanding a premium over revenue that merely compounds.
Comparison updated 2026-07-10.
| Metric | TTEK | VVX |
|---|---|---|
| Price | $29.25 | $72.52 |
| Market cap | $7.7B | $2.3B |
| Sector | Consulting | Consulting |
| Stage | Mature | Mature |
| Implied growth (priced in) | +3.4% | +4.3% |
| P/E | 17.5 | 25.9 |
| P/B | 4.11 | 2.07 |
| P/S | 1.49 | 0.48 |
| EV/EBITDA | 12.3 | 16.2 |
| Revenue growth | -6.0% | +9.3% |
| Gross margin | 17.6% | — |
| Operating margin | 10.8% | 3.5% |
| Net margin | 8.6% | 1.9% |
| Return on equity | 23.6% | 8.0% |
| Return on assets | 10.1% | 2.8% |
| Return on invested capital | 16.6% | 7.5% |
| FCF yield | 8.7% | 6.0% |
| Dividend yield | 0.8% | — |
| Debt / equity | 0.47 | 0.97 |
| Current ratio | 1.25 | 1.25 |
| Altman Z (solvency) | 7.99 | 2.43 |
| Piotroski F (quality) | 4 / 9 | 5 / 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.