TTEC Holdings, Inc. (TTEC)
NASDAQ:TTEC
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TTEC Holdings
(NASDAQ:TTEC)
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Rating:47Neutral
Price Target:
$2.50
▼(-26.25% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (declining revenue, sustained GAAP losses, and high leverage with a thin equity base). The earnings call provides partial support via margin/EBITDA improvement guidance, positive free cash flow, and deleveraging progress, but these are offset by continued expected revenue declines and Digital segment headwinds. Technicals add further pressure due to a generally weak trend and limited momentum, while valuation is difficult to assess given the negative P/E and lack of dividend yield.
Positive Factors
Improving cash generation
TTEC’s recent shift to sustained positive operating and free cash flow provides durable internal funding for debt reduction, capex for automation, and strategic investments. Consistent cash generation improves liquidity and supports deleveraging even if earnings remain volatile.
Negative Factors
High leverage, thin equity
Very high net debt versus a shrunken equity base constrains financial flexibility and increases refinancing and covenant risk. Even with improving cash flow, elevated leverage limits capital allocation options and raises vulnerability to downturns or slower cash conversion.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving cash generation
TTEC’s recent shift to sustained positive operating and free cash flow provides durable internal funding for debt reduction, capex for automation, and strategic investments. Consistent cash generation improves liquidity and supports deleveraging even if earnings remain volatile.
Read all positive factors
TTEC Holdings (TTEC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$119.21M
Dividend YieldN/A
Average Volume (3M)544.59K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth-3.08%
EPS Growth37.75%
CountryUS
Employees50,000
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-4.18
Shares Outstanding48,658,382
10 Day Avg. Volume605,975
30 Day Avg. Volume544,586
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.83
Price to Sales (P/S)0.08
P/FCF Ratio2.13
Enterprise Value/Market Cap8.42
Enterprise Value/Revenue0.48
Enterprise Value/Gross Profit2.45
Enterprise Value/Ebitda-42.04
Forecast
1Y Price Target
$4.00Price Target Upside17.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.17
Revenue Forecast (FY)$2.03B
TTEC Holdings Business Overview & Revenue Model
Company Description
TTEC Holdings, Inc., a customer experience technology and services company, that designs, builds, orchestrates, and delivers digitally enabled customer experiences designed for various brands. It operates in two segments, TTEC Digital and TTEC Eng...
How the Company Makes Money
TTEC primarily makes money by providing contracted services to client organizations, typically under multi-month or multi-year agreements that outsource portions of customer interaction operations and related CX functions. A major revenue stream c...
TTEC Holdings Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: the company delivered improved profitability (adjusted EBITDA growth, margin expansion), a meaningful free cash flow turnaround, EPS improvement, and debt reduction while investing in AI, talent, and strategic partnerships. However, those positives were offset by continued top-line pressure (full-year revenue decline and 2026 revenue guidance down ~5%), a sizable $205M noncash goodwill impairment in the Digital reporting unit, Digital recurring revenue/mix challenges, and transitory reliance on product resale. Management expects near-term revenue tradeoffs from offshoring and contract rationalizations but projects continued EBITDA and margin improvement in 2026.Positive Updates
Full-Year Financial Results Beat Guidance with EBITDA Growth
Full-year 2025 GAAP revenue roughly $2.14B (exceeded the high end of guidance), adjusted EBITDA $214.0M (+5.6% year-over-year) representing ~10% of revenue (up ~80 bps). Non-GAAP operating income grew to $155M (7.3% of revenue) and full-year EPS improved to $1.10 from $0.71.
Negative Updates
Top-Line Pressure and Year-over-Year Revenue Declines
Consolidated full-year revenue declined ~3.2% YoY to ~$2.14B. Engage revenue down ~4.6% and Digital recurring revenue down (~4% full year). Company expects 2026 GAAP revenue to decline ~5% YoY (guidance midpoint) with Engage revenue ~-4% and Digital revenue ~-8.4% driven by product resale declines and contract rationalizations.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Financial Results Beat Guidance with EBITDA Growth
Full-year 2025 GAAP revenue roughly $2.14B (exceeded the high end of guidance), adjusted EBITDA $214.0M (+5.6% year-over-year) representing ~10% of revenue (up ~80 bps). Non-GAAP operating income grew to $155M (7.3% of revenue) and full-year EPS improved to $1.10 from $0.71.
Read all positive updates
Company Guidance
TTEC’s 2026 guidance calls for GAAP revenue of $2.03B (≈‑5% YoY) with adjusted EBITDA of $230M (≈+7.6% YoY; 11.3% of revenue), non‑GAAP operating income of $169M (≈+9%; 8.3% margin) and non‑GAAP EPS of $1.19 (≈+9%); capital expenditures are guided at 1–2% of revenue (≈60% growth‑oriented), the full‑year effective tax rate is expected at 38–42%, and ~52% of revenue is anticipated in H2. At the segment level management expects Engage revenue to decline ~4% (Engage backlog $1.48B, or 92% of 2026 midpoint) with continued margin expansion, and Digital revenue to decline ~8.4% (Digital backlog $287M, or 67% of midpoint) as product resale and legacy recurring services normalize. Management also reiterated plans to grow EBITDA while continuing deleveraging (2025 free cash flow $83M; year‑end cash $83M; debt $908M; net debt $825M; net leverage 3.58x) and to drive near‑100% AI adoption across clients by year‑end 2026.TTEC Holdings Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
18
Very Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.10B | 2.14B | 2.21B | 2.46B | 2.44B | 2.27B |
| Gross Profit | 409.88M | 466.21M | 471.72M | 529.94M | 587.19M | 568.95M |
| EBITDA | -23.87M | -8.77M | -54.25M | 220.32M | 301.21M | 316.97M |
| Net Income | -201.46M | -192.47M | -320.96M | 8.43M | 103.24M | 140.97M |
Balance Sheet | ||||||
| Total Assets | 1.41B | 1.50B | 1.75B | 2.19B | 2.15B | 2.00B |
| Cash, Cash Equivalents and Short-Term Investments | 88.75M | 82.90M | 84.99M | 172.75M | 153.44M | 158.21M |
| Total Debt | 973.37M | 1.00B | 1.08B | 1.13B | 1.06B | 899.88M |
| Total Liabilities | 1.31B | 1.39B | 1.49B | 1.57B | 1.52B | 1.40B |
| Stockholders Equity | 83.52M | 95.07M | 250.25M | 598.63M | 559.91M | 522.21M |
Cash Flow | ||||||
| Free Cash Flow | 102.14M | 81.53M | -103.99M | 76.93M | 53.04M | 190.94M |
| Operating Cash Flow | 126.88M | 119.64M | -58.82M | 144.76M | 137.05M | 251.30M |
| Investing Cash Flow | -36.98M | -41.82M | 477.00K | -67.58M | -226.20M | -541.98M |
| Financing Cash Flow | -84.09M | -73.67M | -38.30M | -68.23M | 89.04M | 319.64M |
TTEC Holdings Technical Analysis
Negative
3.39
Price Trends
2.77
Negative
2.88
Negative
3.17
Negative
Market Momentum
-0.10
Positive
37.99
Neutral
9.91
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTEC, the sentiment is Negative. The current price of 3.39 is above the 20-day moving average (MA) of 2.85, above the 50-day MA of 2.77, and above the 200-day MA of 3.17, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 37.99 is Neutral, neither overbought nor oversold. The STOCH value of 9.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TTEC.
TTEC Holdings Risk Analysis
TTEC Holdings disclosed 48 risk factors in its most recent earnings report. TTEC Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TTEC Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $5.13B | 14.55 | 9.34% | 2.05% | 3.39% | -4.72% | |
71 Outperform | $4.92B | 10.72 | 22.44% | 1.41% | 6.47% | 10.82% | |
63 Neutral | $4.86B | 22.07 | 10.67% | ― | 14.21% | -2.92% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $1.47B | 23.28 | -37.51% | 3.38% | 3.81% | -636.38% | |
47 Neutral | $119.21M | -3.99 | -111.94% | ― | -3.08% | 37.75% |
* Technology Sector Average
TTEC
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TTEC Holdings Corporate Events
Business Operations and StrategyExecutive/Board Changes
TTEC Digital Announces Leadership Transition and Growth Focus
Positive
Mar 23, 2026
TTEC Holdings announced on March 23, 2026, that TTEC Digital CEO David J. Seybold will depart the company effective April 30, 2026, after leading the segment since 2022 and helping to establish a unified, AI-forward TTEC Digital brand. The leaders...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.