Intrinsic value of Tetra Technologies - TTI

Previous Close

$4.09

  Intrinsic Value

$0.49

stock screener

  Rating & Target

str. sell

-88%

Previous close

$4.09

 
Intrinsic value

$0.49

 
Up/down potential

-88%

 
Rating

str. sell

We calculate the intrinsic value of TTI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -38.50
  22.00
  20.30
  18.77
  17.39
  16.15
  15.04
  14.03
  13.13
  12.32
  11.59
  10.93
  10.33
  9.80
  9.32
  8.89
  8.50
  8.15
  7.84
  7.55
  7.30
  7.07
  6.86
  6.67
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
Revenue, $m
  695
  848
  1,020
  1,211
  1,422
  1,652
  1,900
  2,167
  2,452
  2,754
  3,073
  3,408
  3,761
  4,129
  4,514
  4,915
  5,333
  5,768
  6,220
  6,690
  7,178
  7,685
  8,212
  8,760
  9,330
  9,923
  10,540
  11,183
  11,853
  12,551
  13,279
Variable operating expenses, $m
 
  799
  961
  1,141
  1,339
  1,555
  1,789
  2,040
  2,308
  2,592
  2,892
  3,207
  3,539
  3,886
  4,248
  4,625
  5,019
  5,428
  5,853
  6,295
  6,754
  7,231
  7,727
  8,243
  8,780
  9,338
  9,918
  10,523
  11,153
  11,810
  12,495
Fixed operating expenses, $m
 
  221
  227
  233
  238
  244
  250
  257
  263
  270
  276
  283
  290
  298
  305
  313
  321
  329
  337
  345
  354
  363
  372
  381
  391
  400
  410
  421
  431
  442
  453
Total operating expenses, $m
  866
  1,020
  1,188
  1,374
  1,577
  1,799
  2,039
  2,297
  2,571
  2,862
  3,168
  3,490
  3,829
  4,184
  4,553
  4,938
  5,340
  5,757
  6,190
  6,640
  7,108
  7,594
  8,099
  8,624
  9,171
  9,738
  10,328
  10,944
  11,584
  12,252
  12,948
Operating income, $m
  -171
  -172
  -167
  -162
  -155
  -148
  -139
  -130
  -119
  -108
  -96
  -82
  -69
  -54
  -39
  -23
  -6
  12
  30
  49
  70
  91
  113
  136
  160
  185
  211
  239
  268
  299
  330
EBITDA, $m
  -41
  -21
  14
  54
  98
  146
  199
  256
  317
  382
  450
  523
  599
  679
  763
  850
  941
  1,036
  1,135
  1,237
  1,344
  1,455
  1,571
  1,691
  1,817
  1,947
  2,083
  2,225
  2,373
  2,527
  2,689
Interest expense (income), $m
  55
  50
  67
  86
  107
  130
  156
  183
  213
  244
  277
  313
  350
  389
  430
  472
  516
  563
  611
  661
  713
  767
  823
  881
  942
  1,005
  1,070
  1,138
  1,210
  1,284
  1,361
Earnings before tax, $m
  -237
  -222
  -234
  -248
  -262
  -278
  -295
  -313
  -332
  -352
  -373
  -395
  -418
  -443
  -468
  -495
  -522
  -551
  -581
  -611
  -643
  -676
  -710
  -745
  -782
  -820
  -859
  -899
  -941
  -985
  -1,030
Tax expense, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -161
  -222
  -234
  -248
  -262
  -278
  -295
  -313
  -332
  -352
  -373
  -395
  -418
  -443
  -468
  -495
  -522
  -551
  -581
  -611
  -643
  -676
  -710
  -745
  -782
  -820
  -859
  -899
  -941
  -985
  -1,030

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  30
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,316
  1,570
  1,889
  2,243
  2,634
  3,059
  3,519
  4,013
  4,540
  5,099
  5,690
  6,312
  6,964
  7,647
  8,360
  9,103
  9,876
  10,681
  11,518
  12,388
  13,292
  14,231
  15,207
  16,222
  17,278
  18,376
  19,519
  20,710
  21,950
  23,243
  24,591
Adjusted assets (=assets-cash), $m
  1,286
  1,570
  1,889
  2,243
  2,634
  3,059
  3,519
  4,013
  4,540
  5,099
  5,690
  6,312
  6,964
  7,647
  8,360
  9,103
  9,876
  10,681
  11,518
  12,388
  13,292
  14,231
  15,207
  16,222
  17,278
  18,376
  19,519
  20,710
  21,950
  23,243
  24,591
Revenue / Adjusted assets
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
  0.540
Average production assets, $m
  1,074
  1,310
  1,576
  1,872
  2,197
  2,552
  2,936
  3,348
  3,788
  4,254
  4,747
  5,266
  5,810
  6,380
  6,974
  7,594
  8,240
  8,911
  9,610
  10,335
  11,089
  11,873
  12,688
  13,534
  14,415
  15,331
  16,285
  17,278
  18,313
  19,391
  20,516
Working capital, $m
  159
  158
  190
  225
  265
  307
  353
  403
  456
  512
  572
  634
  699
  768
  840
  914
  992
  1,073
  1,157
  1,244
  1,335
  1,429
  1,527
  1,629
  1,735
  1,846
  1,961
  2,080
  2,205
  2,334
  2,470
Total debt, $m
  701
  940
  1,208
  1,506
  1,834
  2,192
  2,579
  2,994
  3,437
  3,907
  4,404
  4,927
  5,476
  6,050
  6,649
  7,274
  7,925
  8,602
  9,306
  10,037
  10,797
  11,587
  12,408
  13,262
  14,150
  15,073
  16,035
  17,036
  18,079
  19,166
  20,300
Total liabilities, $m
  1,082
  1,321
  1,589
  1,887
  2,215
  2,573
  2,960
  3,375
  3,818
  4,288
  4,785
  5,308
  5,857
  6,431
  7,030
  7,655
  8,306
  8,983
  9,687
  10,418
  11,178
  11,968
  12,789
  13,643
  14,531
  15,454
  16,416
  17,417
  18,460
  19,547
  20,681
Total equity, $m
  234
  250
  300
  357
  419
  486
  560
  638
  722
  811
  905
  1,004
  1,107
  1,216
  1,329
  1,447
  1,570
  1,698
  1,831
  1,970
  2,113
  2,263
  2,418
  2,579
  2,747
  2,922
  3,104
  3,293
  3,490
  3,696
  3,910
Total liabilities and equity, $m
  1,316
  1,571
  1,889
  2,244
  2,634
  3,059
  3,520
  4,013
  4,540
  5,099
  5,690
  6,312
  6,964
  7,647
  8,359
  9,102
  9,876
  10,681
  11,518
  12,388
  13,291
  14,231
  15,207
  16,222
  17,278
  18,376
  19,520
  20,710
  21,950
  23,243
  24,591
Debt-to-equity ratio
  2.996
  3.760
  4.020
  4.220
  4.380
  4.510
  4.610
  4.690
  4.760
  4.820
  4.870
  4.910
  4.950
  4.980
  5.000
  5.030
  5.050
  5.060
  5.080
  5.100
  5.110
  5.120
  5.130
  5.140
  5.150
  5.160
  5.170
  5.170
  5.180
  5.190
  5.190
Adjusted equity ratio
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159
  0.159

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -161
  -222
  -234
  -248
  -262
  -278
  -295
  -313
  -332
  -352
  -373
  -395
  -418
  -443
  -468
  -495
  -522
  -551
  -581
  -611
  -643
  -676
  -710
  -745
  -782
  -820
  -859
  -899
  -941
  -985
  -1,030
Depreciation, amort., depletion, $m
  130
  151
  182
  216
  253
  294
  338
  386
  436
  490
  546
  605
  668
  733
  802
  873
  947
  1,024
  1,105
  1,188
  1,275
  1,365
  1,458
  1,556
  1,657
  1,762
  1,872
  1,986
  2,105
  2,229
  2,358
Funds from operations, $m
  63
  -71
  -52
  -32
  -9
  16
  44
  73
  104
  138
  173
  210
  249
  290
  333
  378
  425
  473
  524
  577
  632
  689
  748
  810
  875
  943
  1,013
  1,087
  1,164
  1,244
  1,328
Change in working capital, $m
  9
  28
  32
  36
  39
  43
  46
  50
  53
  56
  59
  62
  66
  69
  72
  75
  78
  81
  84
  87
  91
  94
  98
  102
  106
  110
  115
  120
  125
  130
  135
Cash from operations, $m
  54
  -99
  -84
  -67
  -48
  -26
  -3
  23
  51
  82
  114
  148
  184
  222
  262
  303
  347
  392
  440
  489
  541
  594
  650
  708
  769
  832
  898
  967
  1,039
  1,114
  1,192
Maintenance CAPEX, $m
  0
  -123
  -151
  -181
  -215
  -253
  -293
  -337
  -385
  -435
  -489
  -546
  -605
  -668
  -733
  -802
  -873
  -947
  -1,024
  -1,105
  -1,188
  -1,275
  -1,365
  -1,458
  -1,556
  -1,657
  -1,762
  -1,872
  -1,986
  -2,105
  -2,229
New CAPEX, $m
  -21
  -237
  -266
  -296
  -326
  -355
  -384
  -412
  -440
  -467
  -493
  -519
  -544
  -569
  -595
  -620
  -646
  -672
  -698
  -726
  -754
  -784
  -815
  -847
  -881
  -916
  -954
  -993
  -1,035
  -1,079
  -1,125
Cash from investing activities, $m
  -14
  -360
  -417
  -477
  -541
  -608
  -677
  -749
  -825
  -902
  -982
  -1,065
  -1,149
  -1,237
  -1,328
  -1,422
  -1,519
  -1,619
  -1,722
  -1,831
  -1,942
  -2,059
  -2,180
  -2,305
  -2,437
  -2,573
  -2,716
  -2,865
  -3,021
  -3,184
  -3,354
Free cash flow, $m
  40
  -459
  -501
  -544
  -589
  -634
  -680
  -726
  -773
  -820
  -868
  -917
  -966
  -1,015
  -1,066
  -1,118
  -1,171
  -1,226
  -1,283
  -1,341
  -1,401
  -1,464
  -1,529
  -1,597
  -1,667
  -1,741
  -1,818
  -1,898
  -1,982
  -2,069
  -2,161
Issuance/(repayment) of debt, $m
  -164
  239
  268
  298
  328
  358
  387
  415
  443
  470
  497
  523
  549
  574
  599
  625
  651
  677
  704
  732
  760
  790
  821
  854
  888
  924
  961
  1,001
  1,043
  1,087
  1,134
Issuance/(repurchase) of shares, $m
  168
  267
  285
  304
  324
  345
  368
  391
  416
  441
  467
  494
  522
  551
  582
  613
  645
  679
  714
  750
  787
  825
  865
  907
  950
  994
  1,040
  1,089
  1,139
  1,191
  1,245
Cash from financing (excl. dividends), $m  
  -31
  506
  553
  602
  652
  703
  755
  806
  859
  911
  964
  1,017
  1,071
  1,125
  1,181
  1,238
  1,296
  1,356
  1,418
  1,482
  1,547
  1,615
  1,686
  1,761
  1,838
  1,918
  2,001
  2,090
  2,182
  2,278
  2,379
Total cash flow (excl. dividends), $m
  7
  47
  52
  58
  64
  69
  75
  80
  86
  91
  96
  100
  105
  110
  115
  120
  125
  130
  135
  140
  146
  151
  157
  164
  170
  177
  184
  192
  200
  208
  217
Retained Cash Flow (-), $m
  7
  -267
  -285
  -304
  -324
  -345
  -368
  -391
  -416
  -441
  -467
  -494
  -522
  -551
  -582
  -613
  -645
  -679
  -714
  -750
  -787
  -825
  -865
  -907
  -950
  -994
  -1,040
  -1,089
  -1,139
  -1,191
  -1,245
Prev. year cash balance distribution, $m
 
  30
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -190
  -233
  -246
  -261
  -276
  -293
  -311
  -330
  -350
  -371
  -394
  -417
  -441
  -467
  -493
  -521
  -549
  -579
  -609
  -641
  -674
  -708
  -743
  -779
  -817
  -856
  -897
  -939
  -982
  -1,027
Discount rate, %
 
  11.50
  12.08
  12.68
  13.31
  13.98
  14.68
  15.41
  16.18
  16.99
  17.84
  18.73
  19.67
  20.65
  21.68
  22.77
  23.91
  25.10
  26.36
  27.68
  29.06
  30.51
  32.04
  33.64
  35.32
  37.09
  38.94
  40.89
  42.93
  45.08
  47.34
PV of cash for distribution, $m
 
  -171
  -185
  -172
  -158
  -144
  -129
  -114
  -99
  -85
  -72
  -60
  -48
  -38
  -30
  -23
  -17
  -12
  -9
  -6
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  60.9
  39.1
  26.2
  18.1
  12.9
  9.4
  7.0
  5.3
  4.1
  3.2
  2.5
  2.0
  1.6
  1.3
  1.1
  0.9
  0.7
  0.6
  0.5
  0.4
  0.4
  0.3
  0.3
  0.2
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1

TETRA Technologies, Inc. is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore. The Fluids division manufactures and markets clear brine fluids, additives and associated products and services to the oil and gas industry. Its Production Testing division provides frac flowback services, production well testing services, offshore rig cooling and other associated services in various oil and gas producing regions. The Compression division provides compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Offshore division consists of two operating segments: Offshore Services and Maritech.


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FINANCIAL RATIOS  of  Tetra Technologies (TTI)

Valuation Ratios
P/E Ratio -2.9
Price to Sales 0.7
Price to Book 2
Price to Tangible Book
Price to Cash Flow 8.7
Price to Free Cash Flow 14.3
Growth Rates
Sales Growth Rate -38.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -82.6%
Cap. Spend. - 3 Yr. Gr. Rate -27%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 299.6%
Total Debt to Equity 299.6%
Interest Coverage -3
Management Effectiveness
Return On Assets -7.2%
Ret/ On Assets - 3 Yr. Avg. -6.4%
Return On Total Capital -15.9%
Ret/ On T. Cap. - 3 Yr. Avg. -13.8%
Return On Equity -67.8%
Return On Equity - 3 Yr. Avg. -48.6%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 10.1%
Gross Margin - 3 Yr. Avg. 14.3%
EBITDA Margin -7.5%
EBITDA Margin - 3 Yr. Avg. -2.6%
Operating Margin -24.6%
Oper. Margin - 3 Yr. Avg. -16%
Pre-Tax Margin -34.1%
Pre-Tax Margin - 3 Yr. Avg. -22.2%
Net Profit Margin -23.2%
Net Profit Margin - 3 Yr. Avg. -16.7%
Effective Tax Rate -0.8%
Eff/ Tax Rate - 3 Yr. Avg. -3.5%
Payout Ratio 0%

TTI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TTI stock intrinsic value calculation we used $695 million for the last fiscal year's total revenue generated by Tetra Technologies. The default revenue input number comes from 2016 income statement of Tetra Technologies. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TTI stock valuation model: a) initial revenue growth rate of 22% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 11.5%, whose default value for TTI is calculated based on our internal credit rating of Tetra Technologies, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tetra Technologies.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TTI stock the variable cost ratio is equal to 94.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $216 million in the base year in the intrinsic value calculation for TTI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.1% for Tetra Technologies.

Corporate tax rate of 27% is the nominal tax rate for Tetra Technologies. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TTI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TTI are equal to 154.5%.

Life of production assets of 8.7 years is the average useful life of capital assets used in Tetra Technologies operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TTI is equal to 18.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $234 million for Tetra Technologies - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 116.974 million for Tetra Technologies is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tetra Technologies at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ Weatherford Internationals Correlation with Crude Oil   [Jan-03-18 10:32AM  Market Realist]
▶ Stocks Generating Improved Relative Strength: Tetra Technologies   [Dec-19-17 03:00AM  Investor's Business Daily]
▶ How Did Schlumberger React to Crude Oil Prices Last Week?   [Dec-11-17 04:55PM  Market Realist]
▶ How Weatherford Has Reacted to Crude Oil Price Changes   [Nov-28-17 10:32AM  Market Realist]
▶ These Oilfield Services Stocks Rose the Most Last Week   [Nov-24-17 09:40AM  Market Realist]
▶ Woodlands energy services company hires new president   [Nov-22-17 07:20AM  American City Business Journals]
▶ CSI Compressco LP Announces New President   [Nov-20-17 07:19PM  PR Newswire]
▶ How Schlumberger Reacted to Crude Oil Prices Last Week   [Nov-13-17 04:30PM  Market Realist]
▶ Tetra Technologies beats 3Q profit forecasts   [07:17AM  Associated Press]
▶ Stocks With Rising Relative Strength: Tetra Technologies   [Nov-03-17 03:00AM  Investor's Business Daily]
▶ Tetra Technologies Sees RS Rating Improve To 74   [Oct-25-17 03:00AM  Investor's Business Daily]
▶ Tetra Technologies Getting Closer To Key Technical Measure   [Oct-04-17 03:00AM  Investor's Business Daily]
▶ Oilfield Services Gainers: TTI, IO, FTK, TESO, and NR   [Sep-15-17 03:34PM  Market Realist]
▶ Tetra Technologies reports 2Q loss   [Aug-09-17 12:32PM  Associated Press]
▶ CSI Compressco LP Announces Second Quarter 2017 Results   [Aug-08-17 07:00AM  PR Newswire]
▶ Why TETRA Technologies Stock Jumped 18.5% Today   [May-10-17 01:42PM  Motley Fool]
▶ Tetra Technologies reports 1Q loss   [07:38AM  Associated Press]
▶ CSI Compressco LP Announces First Quarter 2017 Results   [May-09-17 07:20AM  PR Newswire]
▶ Tetra Technologies reports 4Q loss   [07:37AM  Associated Press]
▶ How TETRA Technologies, Inc. (TTI) Stacks Up Against Its Peers   [Dec-08-16 02:14PM  at Insider Monkey]
Financial statements of TTI
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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