The mode-mismatched dual-beam thermal lens technique is widely applied in the characterization of optical and thermo-physical properties of solids and liquids. The technique has also been used to investigate transient acoustic waves induced by pulsed laser excitation at the nanosecond time scale. In this paper, we developed a semi-analytical model to describe the transient acoustic wave that allows a fitting procedure to get the physical properties of fluid samples. The method was used to investigate samples with different mixtures of ethanol and water, and quantitative information of piezo-optic coefficient and sound speed are evaluated for the fluid mixtures.