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Side-by-side financial comparison of TIC Solutions, Inc. (TIC) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $508.3M, roughly 1.2× TIC Solutions, Inc.). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs -9.3%, a 22.7% gap on every dollar of revenue. WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $37.1M).
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
TIC vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $508.3M | $625.1M |
| Net Profit | $-47.2M | $83.7M |
| Gross Margin | 35.2% | 49.5% |
| Operating Margin | -3.8% | 18.2% |
| Net Margin | -9.3% | 13.4% |
| Revenue YoY | — | 15.7% |
| Net Profit YoY | — | 24.0% |
| EPS (diluted) | — | $2.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $508.3M | $625.1M | ||
| Q3 25 | $473.9M | $611.7M | ||
| Q2 25 | $313.9M | $643.7M | ||
| Q1 25 | $234.2M | $558.0M | ||
| Q4 24 | — | $540.4M | ||
| Q3 24 | — | $543.6M | ||
| Q2 24 | — | $597.3M | ||
| Q1 24 | — | $570.9M |
| Q4 25 | $-47.2M | $83.7M | ||
| Q3 25 | $-13.9M | $82.2M | ||
| Q2 25 | $-233.0K | $100.9M | ||
| Q1 25 | $-25.8M | $74.0M | ||
| Q4 24 | — | $67.5M | ||
| Q3 24 | — | $69.1M | ||
| Q2 24 | — | $82.0M | ||
| Q1 24 | — | $72.6M |
| Q4 25 | 35.2% | 49.5% | ||
| Q3 25 | 32.2% | 48.8% | ||
| Q2 25 | 23.6% | 50.6% | ||
| Q1 25 | 18.6% | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | -3.8% | 18.2% | ||
| Q3 25 | -1.4% | 18.2% | ||
| Q2 25 | 5.8% | 21.0% | ||
| Q1 25 | -4.0% | 15.7% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | — | 17.1% | ||
| Q2 24 | — | 18.7% | ||
| Q1 24 | — | 16.9% |
| Q4 25 | -9.3% | 13.4% | ||
| Q3 25 | -2.9% | 13.4% | ||
| Q2 25 | -0.1% | 15.7% | ||
| Q1 25 | -11.0% | 13.3% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 12.7% | ||
| Q2 24 | — | 13.7% | ||
| Q1 24 | — | 12.7% |
| Q4 25 | — | $2.50 | ||
| Q3 25 | $-0.08 | $2.45 | ||
| Q2 25 | — | $3.01 | ||
| Q1 25 | — | $2.21 | ||
| Q4 24 | — | $2.02 | ||
| Q3 24 | — | $2.06 | ||
| Q2 24 | — | $2.44 | ||
| Q1 24 | — | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $439.5M | $405.5M |
| Total DebtLower is stronger | $1.6B | — |
| Stockholders' EquityBook value | $2.2B | $2.0B |
| Total Assets | $4.4B | $2.9B |
| Debt / EquityLower = less leverage | 0.74× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $439.5M | $405.5M | ||
| Q3 25 | $164.4M | $457.7M | ||
| Q2 25 | $130.1M | $369.3M | ||
| Q1 25 | $155.7M | $336.8M | ||
| Q4 24 | — | $386.9M | ||
| Q3 24 | — | $303.9M | ||
| Q2 24 | — | $279.4M | ||
| Q1 24 | — | $237.1M |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $751.3M | — | ||
| Q1 25 | $752.4M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.2B | $2.0B | ||
| Q3 25 | $2.0B | $2.0B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.1B | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $4.2B | $2.7B | ||
| Q2 25 | $2.2B | $2.6B | ||
| Q1 25 | $2.2B | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $49.7M | $154.7M |
| Free Cash FlowOCF − Capex | $37.1M | $140.3M |
| FCF MarginFCF / Revenue | 7.3% | 22.4% |
| Capex IntensityCapex / Revenue | 2.5% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $61.3M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | $154.7M | ||
| Q3 25 | $19.0M | $122.4M | ||
| Q2 25 | $-6.5M | $69.7M | ||
| Q1 25 | $32.8M | $55.2M | ||
| Q4 24 | — | $139.5M | ||
| Q3 24 | — | $90.7M | ||
| Q2 24 | — | $85.3M | ||
| Q1 24 | — | $45.6M |
| Q4 25 | $37.1M | $140.3M | ||
| Q3 25 | $10.3M | $110.9M | ||
| Q2 25 | $-14.5M | $59.5M | ||
| Q1 25 | $28.3M | $45.6M | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | — | $78.5M | ||
| Q1 24 | — | $35.5M |
| Q4 25 | 7.3% | 22.4% | ||
| Q3 25 | 2.2% | 18.1% | ||
| Q2 25 | -4.6% | 9.2% | ||
| Q1 25 | 12.1% | 8.2% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 13.1% | ||
| Q1 24 | — | 6.2% |
| Q4 25 | 2.5% | 2.3% | ||
| Q3 25 | 1.8% | 1.9% | ||
| Q2 25 | 2.6% | 1.6% | ||
| Q1 25 | 1.9% | 1.7% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | — | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
WTS
Segment breakdown not available.
