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TPC

Tutor Perini Corporation Common Stock (TPC) fair value

Industrials · Engineering & Construction · NYSE · United States
$76.86-0.03%
Market cap $4.0BNext earnings 2026-11-04Updated Oct 20, 2026
Add earnings to calendarGoogle
Our verdict
Trades 8% above our fair value
Price
$76.86
Model fair valueConfidence: good
$71.07
Model range
$28.13 to $126
Fair value $71.07
Price $76.86
3 models fit Tutor Perini Corporation Common Stock and they disagree: 0 of 3 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)Bronze51
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionTutor Perini Corporation Common Stock (TPC)
Fair value (3 models)
$71.07
ACCE price target
$90.00
Rating
Fairly valued
Horizon
12 months
Fair value published on 20 Oct 2026, 16:04 CEST; previously $82.03 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $76.86 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
8.1% above
-7.5% to fair value
ACCE score
64
out of 100
Analysts
100% buy
4 covering
P/E
33.1x
forward 12.9x
1-year return
+13.6%
Dividend yield
0.22%

Tutor Perini Corporation Common Stock in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Tutor Perini builds and rebuilds heavy civil infrastructure in the United States, including bridges, transit systems, tunnels, dams, and buildings, and it generally takes on large fixed-price public contracts that run for years. The competitive edge is a long backlog of public work and the bonding capacity needed to win projects of this size, which few smaller contractors can match. Revenue grew 19.2% over the last year, and the forward P/E of 12.9 against a trailing 33.9 suggests earnings are expected to recover sharply as large legacy projects roll off and margins improve from a 7.2% operating margin. The valuation gap between trailing and forward earnings is the key question: whether the margin recovery is real and durable, given that an 11.5% gross margin leaves little room for cost overruns on fixed-price work. Worth a deeper look to test backlog quality and project-level margins before any view on the forward earnings estimate.

AI-assisted·How I use AIWritten Oct 18, 2026
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
  • high
    Thin margins, lumpy earnings
    Net margin is only +2.1% and gross margin +11.5%. The +224.7% earnings jump on +19.2% revenue growth looks driven by a low base or one-offs, not a durable step-up. Quarterly revenue fell 7.8%.
  • moderate
    Flat long-term revenue growth
    Five-year revenue CAGR is just +0.8%, well behind the recent +19.2% year. Growth may not be a steady trend.

AI research notes

AI-assisted·How I use AIWritten Oct 20, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
  • Free cash flow over the last twelve months reached $567M, and the stock yields 13.9% on that cash flow.
Why it could disappoint
  • Return on invested capital is only 3.9%, and net margin is 2.1%, so most revenue never becomes profit for owners.
  • The trailing P/E of 33.5x sits well above the forward P/E of 12.9x and the sector median forward P/E of 23.8x.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Next results

Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle

Walk me through this stock

Plain-English pros, cons, and what to watch. Pro feature.

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Valuation

INVESTOR
Where TPC's valuation models land
Price
$76.86
Model fair value
$71.07
Model range
$28.13 to $126
Fair value $71.07
Price $76.86
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
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Quality

INVESTOR
Quality and conviction INVESTOR FEATURE

The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.

  • +A plain reason under every score
  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

Bullish100% buy · 4 covering analysts
● Strong buy 4● Buy 0● Hold 0● Sell 0● Strong sell 0
Analyst intelligence INVESTOR FEATURE

The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
Do politicians beat the market? Our backtest →
Smart money tracking PRO FEATURE

Follow the informed money: 13F position changes, insider and Congress trades, and 13D activist filings.

  • +Quarter-over-quarter institutional position changes
  • +Every insider and Congress trade, with how late it was disclosed
  • +Active 13D activist filings and top holders

Compare

Where it sits vs peers

News and Record

Press releases mentioning this company

Recent performance

1 week
-1.0%
1 month
-8.9%
3 months
-11.4%
6 months
-11.4%
YTD
+14.7%
1 year
+13.6%

SEC filings

Recommendation history, last 12 months

DateTypeNewPreviousPrice
20 Oct 2026, 16:04 CESTRatingFairly valuedfirst publication$78.27
20 Oct 2026, 16:04 CESTFair value$71.07$82.03$78.27
16 Oct 2026, 00:00 CESTFair value$82.03$83.56$79.48
11 Oct 2026, 00:00 CESTACCE price target$90.00first publication$83.36
11 Oct 2026, 00:00 CESTFair value$83.56$130$83.36
7 Oct 2026, 00:00 CESTFair value$130$134$86.43
4 Oct 2026, 00:00 CESTFair value$134$131$86.73
30 Sept 2026, 00:00 CESTFair value$131$133$83.98
15 Sept 2026, 00:00 CESTFair value$133$136$89.13
10 Sept 2026, 00:00 CESTFair value$136$135$89.52

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth88Value79Quality49Momentum38Total64
Valuation
Trailing P/E
33.1x
Forward P/E
12.9x
PEG
0.15
P/B
3.50x
EV / Revenue
0.7x
Book value/sh
$23.98
Enterprise value
$3.9B
Profitability
ROE
13.7%
FCF yield
14.03%
ROIC
3.9%
Health and risk
Debt / equity
0.39
Dividend yield
0.22%
Beta
2.06

Price

+11.7% · 1Y

Ask anything about TPC

Answered from Tutor Perini Corporation Common Stock fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 17% of peers
low 4.6x33.1xhigh 42.4x
ROEbetter than 60% of peers
low 10%14%high 24%
Div yieldbetter than 0% of peers
low 0.2%0.2%high 6.9%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
TPC Tutor Perini Corporation Common Stock$76.86$718% above33.1x13.7%4964
1721.T COMSYS Holdings Corporation¥5589.00--16.8x10.2%5167
RVNL.NS Rail Vikas Nigam Limited₹181.31--42.4x-4537
5076.T INFRONEER Holdings Inc.¥2257.50--4.6x23.7%5269
1959.T Kraftia Corporation¥7530.00¥889015% below13.1x12.3%6444
1951.T EXEO Group, Inc.¥2572.00--15.5x10.3%4863
SWEC-B.ST Sweco AB (publ)kr 138.20kr 11718% above21.9x18.8%6964

Sector report card

Where TPC ranks against its sector peers on each metric.

Computing percentiles…
  • Business Wire•Oct 6, 2026
    Fisk Electric Awarded $24 Million Data Center Electrical Project, Expanding Prefabrication Capabilities in Houston
  • Business Wire•Oct 5, 2026
    Perini Management Services, Inc. Awarded $315 Million Maritime Infrastructure Project to Construct Fuel Pier to Support Major Cutter Operations at U.S. Coast Guard Base Kodiak
  • Business Wire•Sep 24, 2026
    Perini Management Services, Inc. Awarded $43 Million U.S. Coast Guard Astoria Fast Response Cutter Homeport Phase 2 Project
3 more press releases · full archive on Investor+.INVESTOR
40 filings
October 2026
Oct 13
8-KCurrent reportPeriod 2026-10-07
View on SEC →
September 2026
Sep 2
Form 4Insider transactionPeriod 2026-08-31
View on SEC →
August 2026
Aug 28
Form 4Insider transactionPeriod 2026-08-27
View on SEC →
37 more filings + AI summaries on Investor+.INVESTOR