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Onterris, Inc.

Rank #181Startup

ONT · NYSE · Industrials

Onterris, Inc. (ONT) — Rank #181 by gross profitability (GP/assets 0.35) · ROE -0.2% · Piotroski F-Score 5 / 9.

As-of 2026-09-15 · CIK 0001643615 · all metrics point-in-time as of the filing date.

About

Onterris, Inc. operates as an environmental services company in the United States, Australia, Canada, and internationally.

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It operates in two segments: Consulting and Treatment, and Measurement and Analysis. The Consulting and Treatment segment provides environmental consulting, engineering, and implementation services to help clients assess, manage, and mitigate environmental risks across the lifecycle of their operations and projects. It supports environmental assessments, regulatory permitting, toxicology consulting, emergency preparedness, and response and environmental audits and permits; and offers engineering, design, and implementation solutions to treat contaminated water and remediate soil. The Measurement and Analysis segment offers environmental testing and laboratory services. It tests and analyzes air, water, and soil to determine concentrations of contaminants, as well as the toxicological impact of contaminants on flora, fauna, and human health. This segment's offerings include source and ambient air testing and monitoring, and leak detection, as well as air, soil, stormwater, wastewater, and drinking water analysis. The company was formerly known as Montrose Environmental Group, Inc. and changed its name to Onterris, Inc. in April 2026. Onterris, Inc.

was founded in 2012 and is headquartered in North Little Rock, Arkansas.

Industry
Waste Management
Sector
Industrials
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

ONT-64.8% · -18.8% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens for pre-profit companies.

Market Cap

$626.85M

P/E (annual)

—

P/S (annual)

0.8

P/B

1.5

P/OCF (annual)

5.8

Shareholder Yield

-5.6%

Employees

3,500

Industry

Waste Management

Exchange

NYSE

Signal Flags

3 green2 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.35
Return on equity
-0.2%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.25
Current ratio
2.00×
Net cash
-$336.32M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
5.1%

Growth

1/2 pass
Revenue growth
19.3%
Piotroski F-Score
5 / 9
Share dilution
6.2%

Terry Smith quality gate

Passes 0/5 Terry Smith thresholds

2 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

-7.3%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 6.2% — per-share value needs a total required return of -1.0% once share-count change is priced in.

vs. own 6-year median revenue growth: 17.0%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

-10.6%

r = 10% (base)

-7.3%

r = 12%

-4.3%

Net debt / market cap: 53.6%— material leverage inflates the implied growth read.

Note: current FCF margin is 1.9σ above its historical mean — implied growth may understate valuation risk if the margin reverts.

Base FCF: $91.2M3Y mean FCF: $39.5M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

1.2xCheap
0.9xmed 2.0x3.0x

P / B

Price / book value per share

2.2xCheap
1.5xmed 3.8x7.2x

P / GP

Price / gross profit per share

3.0xCheap
2.4xmed 5.2x8.8x

P / FCF

Price / free cash flow per share

11.0xCheap
11.0xmed 43.0x728.3x

Burn rate (cash flow) is the primary read at this stage — TAM and product-market fit aren't metrics this dashboard tracks.

Profitability

Gross profitability (GP / assets)

0.35

Primary signal (Novy-Marx).

5th of 5 SIC 87 peers

Return on equity

-0.2%

Gross margin

40.3%

3rd of 5 SIC 87 peers

Revenue growth (YoY)

19.3%

RPO growth (YoY)

-11.5%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.1%

Revenue CAGR (5Y)

20.4%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

104.6%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.25

4th of 5 SIC 87 peers (best = lowest)

Current ratio

2.00×

2nd of 5 SIC 87 peers

Quick ratio

1.22×

Net cash

-$336.32M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$91.16M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

109.14

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

5.1%

Stock-based comp intensity.

Dividend safety

Composite score

1.5 / 5

Weak
Payout ratio
N/A0/5 Weak
FCF coverage
21.97×5/5 Strong
Dividend growth streak
0 yr0/5 Weak
Balance-sheet health
D/E 1.25 · IC N/A1/5 Weak

Piotroski F-Score

F-Score

5 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Hypergrowth
Startup
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