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Onterris
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Updated Nov 5, 2026
Onterris Q3 2026: Record 17.7% EBITDA margin on core consulting strength, 25% EBITDA CAGR guidance through 2030.
Onterris delivered record quarterly Adjusted EBITDA margin of 17.7% in Q3 2026, with Consulting and Treatment segment EBITDA reaching 21.7% of revenue despite a 9.7% decline in total revenue driven by normalization of prior-year emergency response work. Excluding that event, core consulting and water treatment revenue grew 13%, demonstrating resilience in the underlying business. Management guided to 15% revenue CAGR and 25% Adjusted EBITDA CAGR through 2030, anchored by elevated water treatment growth expectations and sustained margin expansion, with full-year 2026 leverage anticipated at 2.5x.
Tone: bullishRevenue
$830.5M
ONT 10-K · FY 2025
Employees
3,500
Revenue FY2024
$696.4M
EBITDA margin
17.7%
Profile
ONT 10-K Item 1 · Feb 26, 2026Montrose Environmental Group is a pure-play environmental services company providing assessment, permitting, response, testing, measurement, and remediation services to private and public sector clients across North America and Australia. The company operates through three segments — Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse — serving industries from oil and gas to renewable energy. Its growth model combines organic expansion with a disciplined acquisition program, having completed over 70 acquisitions since its 2012 founding.
Read filing description ↓ Collapse description ↑
Since our inception in 2012, our mission has been to help clients and communities meet their environmental goals and needs. We service complex and often non-discretionary environmental needs of our diverse clients across our three business segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. Our industry is highly fragmented with no single market leader. By focusing solely on environmental solutions, we believe we are uniquely positioned to become a leading platform in the environmental industry. We provide a diverse range of environmental services to our private and public sector clients across the life cycle of their needs—whether they are launching new projects, maintaining operations, decommissioning operations, rehabilitating assets, managing the impacts of climate change or responding to unexpected environmental disruption. Our integrated platform has been a catalyst for our organic growth and we have built on this platform through strategic acquisitions. Innovation is core to our strategy. As the world's environmental challenges grow in number, scope and complexity, increasing public pressure and ongoing regulatory changes are driving the demand for better information and advanced solutions. We prioritize innovation to enhance the quality of information provided to clients, and provide solutions tailored to clients' specific environmental needs. Examples include more accurately measuring emissions, or identifying and remediating known and emerging contaminants. Our revenue and earnings are highly resilient. We do not rely upon any single service, product, political approach or regulatory framework. We serve a diverse set of clients across a wide variety of end markets and geographies in both the private and public sectors, with the majority of clients being in the private sector. Funding for our services is typically non-discretionary given regulatory drivers and public health concerns.
Primary products
- environmental assessments
- environmental emergency response and recovery
- toxicology consulting
- environmental audits and permits
- source and ambient air testing and monitoring
- leak detection
Business segments
End markets
Geographies
Named competitors
“We believe that few, if any, of our competitors currently provide the full range of environmental solutions that we offer.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue grew from $696.4 million in 2024 to $830.5 million in 2025, driven by both organic growth and the contribution of acquisitions completed in prior periods.
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