TTEC Holdings Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
The red rating here is not about the fallen share price — price is not a quality attribute — but about documented balance sheet substance. Equity fell from $615.5 million to $101.8 million in 27 months and, after deducting $493.9 million of intangibles, is deeply negative at minus $410.3 million, against $889.0 million drawn on the credit facility. Income from operations in 2025 covered interest expense only 1.3 times, and from October 1, 2026 the credit margin rises contractually by three percentage points, worth roughly $27 million a year — more than the entire cushion between operating income and interest. Net leverage of 3.77 sits close to the 4.00 covenant ceiling that steps down to 3.00 by 2027, and drawing headroom shrank from $95 million to $50 million in a single quarter. All covenants were met as of March 31, 2026, there is no going-concern qualification and no qualified audit opinion — the color describes the substance, not an acute event. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
TTEC Holdings is not a cheap stock; it is a small stock in a large, indebted company. The price-to-free-cash-flow ratio of 0.96 that lifted it to rank 17 of our screen on July 26, 2026 is arithmetically correct: roughly $102 million of market value against $87.8 million of free cash flow over four quarters. But it measures only the equity slice — enterprise value is about $900 million because $889.0 million is drawn on the credit facility. The operating business carries itself with 51,000 employees and long-standing client relationships, yet it has been shrinking since 2023. Two goodwill impairments totaling $438.9 million pushed equity down to $101.8 million and tangible equity to minus $410.3 million. Two dates decide the rest: October 1, 2026, with the margin step-up and extension fee, and November 23, 2027, when the facility matures. Not investment advice.
Core business
The business carries itself but is shrinking. Revenue fell from $2,462.8 million in 2023 to $2,136.9 million in 2025 and another 7.1 percent to $496.2 million in the first quarter of 2026. The large Engage segment returned to $60.7 million of income from operations in 2025 (2024: a loss of $197.2 million) and revenue retention rose from 82 to 95 percent.
Cash generation
After interest, taxes and capital expenditure, $83.0 million was left in 2025 (2024: minus $104.0 million), with $21.1 million in the first quarter of 2026 against $16.2 million a year earlier. Over the four quarters through March 31, 2026 free cash flow totals $87.8 million — the basis of the screen placement and the most solid number in this analysis.
Balance sheet and leverage
Equity fell from $615.5 million on December 31, 2023 to $101.8 million on March 31, 2026, of which $83.5 million is attributable to TTEC shareholders; after deducting $493.9 million of intangibles, tangible equity is minus $410.3 million. Against that stand $889.0 million drawn on the credit facility. Net leverage rose from 3.58 to 3.77 against a 4.00 covenant ceiling that steps down to 3.00 by the third quarter of 2027, and remaining availability shrank from roughly $95 million to roughly $50 million.
Financing calendar
Contractual, not forecast: from October 1, 2026 the credit margin on SOFR loans rises from 3.0 to 6.0 percentage points — roughly $27 million of extra annual interest on $889.0 million drawn. If the facility is still in effect that day, a one-time extension fee of 1.5 percent of the commitment also falls due, about $15 million on roughly $1.0 billion. The facility matures on November 23, 2027; a financial advisor is evaluating refinancing alternatives with no assurance of an outcome (Form 10-K 2025).
AI classification
TTEC sells artificial intelligence — TTEC Digital is focused on AI and analytics, and TTEC Engage lists "AI Operations," including data annotation, as its own service line. The same 2025 annual report also carries, for the first time, a risk factor absent from the 2024 edition: rapid adoption of AI by clients could reduce demand for TTEC's services. Both statements come from the same document filed February 26, 2026.
Ownership and control
Founder and chief executive Kenneth D. Tuchman holds roughly 57 percent of the shares (Form 10-K 2025). He withdrew his September 27, 2024 buyout proposal at $6.85 per share on August 1, 2025, citing market conditions; no transaction is under way (no Form S-4, no DEFM14A, no Rule 425 communication). The conversion from Delaware to Texas effective May 22, 2026 changed neither capital nor control.
Worth Noting
Hook and reference: rank 17 in our in-house price-to-free-cash-flow ranking of the U.S. selection, measured live on July 26, 2026 (544 hits in total, the 25 strongest displayed). The stated ratio is 0.96, rounded to 1.0 in the table. The screens are recalculated daily; the placement is a snapshot.
Why the low ratio does not come from earnings power: free cash flow over four quarters ($87.8 million) sits below the level of 2019 through 2021 ($177.2 / $212.1 / $190.9 million). What fell is the numerator: market value of roughly $102 million is barely a tenth of an enterprise value of about $900 million, because $889.0 million is drawn on the credit facility (March 31, 2026).
Merger check: no transaction is under way. The founder's September 27, 2024 proposal at $6.85 per share was withdrawn on August 1, 2025; no Form S-4, no DEFM14A, no Rule 425 communication, no Form 25 and no Form 15 in the filing history.
Possible confusion: TTEC Holdings, Inc. was named TeleTech Holdings, Inc. until November 20, 2017 — price history and older filings under the former name concern the same company (CIK 0001013880). The conversion from Delaware to Texas on May 22, 2026 changed neither the ticker, the share count nor the listing.
As-of dates: fundamental data and screen values from July 26, 2026; all balance sheet and income figures come from the SEC filings named above with their respective reporting dates. The market value was cross-checked: 48,658,381 shares (10-Q cover page, May 1, 2026) times $2.10 gives $102.2 million against $103.2 million from fundamental data.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at TTEC since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 1.20 $ to 3.90 $ · Last price: 1.20 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Information Technology Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| TTEC Holdings Inc TTEC | 0.1 | – | 5.5 | 23.3 | – | -3.2 | -67.0 |
| International Business Machines IBM | 212.8 | 21.3 | 16.3 | 58.1 | 13.8 | 7.6 | -5.9 |
| Accenture plc ACN | 117.9 | 15.3 | 9.0 | 32.0 | 17.0 | 7.4 | -18.5 |
| Infosys Ltd INFY | 45.0 | 13.7 | 9.0 | 29.7 | 21.2 | 4.6 | -32.7 |
| Cognizant Technology Solutions Corporation CTSH | 29.3 | 13.1 | 7.3 | 33.4 | 15.6 | 7.0 | -9.6 |
| CDW Corp CDW | 19.1 | 17.3 | 12.4 | 21.4 | 6.6 | 6.8 | -9.0 |
| Broadridge Financial Solutions Inc BR | 19.0 | 17.6 | 12.1 | 31.8 | 18.4 | 5.9 | -31.4 |
| Fidelity National Information Services, Inc. FIS | 18.8 | 7.2 | 9.6 | 35.8 | 16.4 | 5.4 | -43.7 |
| Wipro Limited WIT | 16.6 | 12.9 | 7.4 | 29.0 | 15.7 | 4.0 | -37.3 |
| Median of companies shown | 19.1 | 14.5 | 9.0 | 31.8 | 16.0 | 5.9 | -31.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,275 | 53 | 34 | 0.71 | 108 | 362 | 846 |
| 2017 | 1,477 | 100 | 7 | 0.16 | 113 | 363 | 1,079 |
| 2018 | 1,509 | 92 | 36 | 0.77 | 168 | 353 | 1,055 |
| 2019 | 1,644 | 124 | 77 | 1.65 | 238 | 419 | 1,377 |
| 2020 | 1,949 | 205 | 119 | 2.52 | 272 | 445 | 1,516 |
| 2021 | 2,273 | 217 | 141 | 2.97 | 251 | 522 | 1,997 |
| 2022 | 2,444 | 169 | 103 | 2.18 | 137 | 560 | 2,154 |
| 2023 | 2,463 | 118 | 8 | 0.18 | 145 | 599 | 2,186 |
| 2024 | 2,208 | -174 | -321 | -6.74 | -59 | 250 | 1,753 |
| 2025 | 2,137 | 96 | -192 | -3.99 | 120 | 95 | 1,499 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.04 | – | 567 | -9.40 | 0.40 | -1 | -10 |
| 2025: Q1 | 0.03 | – | 534 | -7.30 | 0.30 | 22 | 16 |
| 2025: Q2 | -0.17 | – | 513 | -4.00 | -1.60 | 93 | 100 |
| 2025: Q3 | -0.28 | – | 519 | -1.90 | -2.60 | 4 | -10 |
| 2025: Q4 | -3.58 | -8,709.40 | 570 | 0.40 | -30.30 | 3 | -9 |
| 2026: Q1 | -0.16 | -645.80 | 496 | -7.20 | -1.50 | 27 | 21 |
| 2026: Q2 | -0.31 | -82.40 | 456 | -11.20 | -3.40 | 51 | 39 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 10 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Momentum & Trend
Research
Risk & Weakness
- Below the 50- & 200-SMA
- Near 52-Week Low
- RS Weakness (≤10)
- Stage 4 (Downtrend)
- Stan Weinstein: Stage 4
- Stan Weinstein: Stage 4B-
- Weakness Cluster
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.85 | 0.79 – 0.89 | 1,956 | -23.0% | 3 |
| 12/31/2027 | 1.08 | 0.94 – 1.28 | 1,970 | 27.6% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
With these assumptions (discount rate 10.0%, terminal growth 2.5%), no growth rate between -20.0% and 60.0% per year explains today’s market value — the reverse calculation yields no meaningful figure here.
| Free cash flow (last twelve months) | $41.0M |
|---|---|
| Market cap | $56.0M |
| Free cash flow in year ten | – |
| Terminal value as a share of market value | – |
For comparison: over the past five years free cash flow shrank by 17.4% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
TTEC verkauft KI als eigene Leistung — das Segment TTEC Digital ist im Geschäftsbericht ausdrücklich auf die Schnittstelle aus Contact Center as a Service, CRM sowie KI und Analytik ausgerichtet, und TTEC Engage führt „AI Operations“ mit Datenannotation und -kennzeichnung als eigene Leistungslinie; zugleich benennt derselbe Bericht die KI-Einführung bei den eigenen Kunden erstmals als Nachfragerisiko (Vorrang-Regel: verkauft schlägt bedroht).
View the full file — quotes, sources, reviewed filings
„TTEC Digital is one of the largest CX technology and service providers and is focused on the intersection of Contact Center as a Service (“CCaaS”), Customer Relationship Management (“CRM”), and AI and Analytics."
TTEC Digital ist einer der größten Anbieter von CX-Technologie und -Dienstleistungen und richtet sich auf die Schnittstelle aus Contact Center as a Service (‚CCaaS'), Kundenbeziehungsmanagement (‚CRM') sowie KI und Analytik aus.
10-K · 2026-02-26 · View SEC filing
„The Company designs, builds, and operates Artificial Intelligence (“AI”) enabled customer experiences across live interaction channels and provides data-driven digital solutions to help clients improve customer satisfaction and loyalty, increase customer revenue and profitability, and optimize overall cost to serve."
Das Unternehmen entwirft, baut und betreibt mit Künstlicher Intelligenz (‚KI') ausgestattete Kundenerlebnisse über Live-Interaktionskanäle hinweg und liefert datengetriebene digitale Lösungen, die Kunden helfen, Kundenzufriedenheit und -treue zu verbessern, Kundenumsatz und Rentabilität zu steigern und die Gesamtkosten der Betreuung zu optimieren.
10-K · 2026-02-26 · View SEC filing
„Our clients are increasingly deploying AI-powered tools and solutions to automate, replace, or materially supplement some of the services that we have historically provided."
Unsere Kunden setzen zunehmend KI-gestützte Werkzeuge und Lösungen ein, um Teile der Leistungen, die wir historisch erbracht haben, zu automatisieren, zu ersetzen oder wesentlich zu ergänzen.
10-K · 2026-02-26 · View SEC filing
„• Customer Support • Tech Support • Revenue Generation and Growth Services • Fraud Mitigation • AI Operations, including data annotation and labeling • Back-Office Support"
• Kundenbetreuung • Technischer Support • Umsatz- und Wachstumsdienste • Betrugsabwehr • KI-Betrieb, einschließlich Datenannotation und -kennzeichnung • Back-Office-Unterstützung
10-Q · 2026-05-07 · View SEC filing
Filings Reviewed: 10-Q 2026-05-07 · 10-K 2026-02-26 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-08 · 10-K 2025-02-27
Rated on July 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -4.4%
- More than 10% revenue growth is expected for the coming year 0.0%
- Share count grows by less than 3% a year 0.6%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 0.6%
- Gross margin at 40% or higher and without meaningful erosion 21.8%
- Goodwill from acquisitions does not grow faster than revenue 24.6%
- Net debt below twice EBITDA failed
- Operating cash flow covers the profits of the last three years 711 m
- Return on capital at 15% or higher, or up versus two years ago 8.4%
- Insiders hold at least 10% or are net buyers 59.4%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
3/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 5.9%
- Exp. sales growth 3Y > 5% -4.0%
- EBIT growth 10Y > 5% 6.9%
- Exp. EBIT growth 3Y > 5% -4.0%
- Net debt < 4x EBIT 9.5x
- EBIT positive, 10Y straight 9
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% 8.4%
- Expected return > 10% 135.8%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Jul 17, 2026 | Abou John P. | President, TTEC Engage | Other | 7,023 | 2.16 | 15,170 |
| Jul 17, 2026 | Abou John P. | President, TTEC Engage | Other | 19,481 | 0.00 | – |
The company
About the Company
TTEC Holdings, Inc. ist ein Customer-Experience-(CX-)Unternehmen, das technologiegestützte Kundenerlebnisse über interaktive Live-Kanäle konzipiert, aufbaut und betreibt.
- Employees
- 44,900
- Headquarters
- Austin, TX
- Address
- 100 Congress Avenue, 78701 Austin, United States
- Phone
- 303 397 8100
- Website
- ttec.com
- IPO Date
- 07/31/1996
- ISIN
- US89854H1023
Management
| Name | Title | Birth Year |
|---|---|---|
| Kenneth D. Tuchman | Founder, Chairman & CEO | 1960 |
| Kenneth R. Wagers III | Chief Financial Officer | 1973 |
| John P. Abou | CEO of TTEC Engage | 1974 |
| Carlos M. Dean | Group Vice President & Chief Accounting Officer | 1973 |
| Robert Belknapp | Group Vice President of Corporate Finance | – |
| Alfredo Rizzo | Chief Technology Officer | – |
| Paul Miller | Head of Investor Relations, Senior VP & Treasurer | – |
| Margaret B. McLean J.D. | General Counsel & Chief Risk Officer | 1963 |
| Laura L. Butler | Chief People & Culture Officer | 1970 |
| Judith A. Hand | Chief Revenue Officer of Engage | 1961 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/10/2026 TTEC Holdings, Inc. (TTEC): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.