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Tidewater Inc.

TDW Energy Oil & Gas Equipment & Services

Tidewater Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 0.52% from fiscal 2024.

Revenue
+0.25%
EPS
−70.1%
Free cash flow
−15.9%
Total debt
+4.47%

Quarter to June 2026, against a year earlier

69.32 4.22 −5.74%
Market cap
$3.4B
P/E
13.9×
Fwd P/E
32.8×
Dividend yield
—
F-score
7/9
Altman Z
2.56
Beneish M
−2.39
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 9.55
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 2 2 — — — — 2 3 — —
Insider Ownership 5.88%

Capital & Financial Ratios $m

Size
Market Cap 3,440.00
Revenue ttm 1,346.42
Net income ttm 245.49
Free cash flow ttm 274.96
Net debt Q 39.66
Valuation
P/E 13.92
Forward P/E 32.80
Price / sales 2.56
Forward P/S Powerpack
Price / FCF 12.54
Price / book 2.48
Financial health
Current ratio Q 3.58 (at or above 1.5: strong)
Debt / equity Q 0.47 (at or below 0.5: strong)
Interest coverage Q 3.81
Growth
Revenue growth Q +0.25% (above 0%: growing)
Operating income growth Q −22.73% (below 0%: shrinking)
EPS, this year −57.76% (below 0%: weak)
EPS, next year A +125.45% (at or above 15%: strong)
Revenue, next year A +6.89%
EPS, past 5 yrs —
EPS, next 5 yrs A +6.53%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.6×, against a ten-year median of 2.1×; over the ten years it ranged from 0.6× in 2020 to 13.6× in 2016.
P/E against its own 10 years 25.18%
10-year low 10-year high
P/S against its own 10 years 64.94%
10-year low 10-year high
P/B against its own 10 years 69.49%
10-year low 10-year high
EV/Sales against its own 10 years 61.24%
10-year low 10-year high
EV/FCF against its own 10 years 26.29%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 276 327 579 614
Receivables 268 324 285 307
Inventory 32 34 38 30
Other — — — —
591 699 914 967
2023 2024 2025 Q'26
Payables 45 71 66 63
ST’ Debt 103 65 6 6
Other 55 65 90 68
329 332 315 270

Compound Annual Growth %

10y 5y 3y
Sales 3.29% 27.78% 27.83%
Cash Flow 4.11% 148.68% 111.23%
Earnings 0.00% 0.00% 0.00%
Book Value (5.11%) 10.58% 16.27%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.32 Actual 0.43

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.46 0.53 Beat by 0.07
Q4 FY25 0.65 0.33 Miss by 0.32
Q1 FY26 0.75 0.12 Miss by 0.63
Q2 FY26 0.32 0.43 Beat by 0.11
Q3 FY26 0.64 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.12 0.43 — — —
’25 0.83 1.46 (0.02) 4.41 6.64
’24 0.89 0.94 0.87 0.70 3.40
’23 0.21 0.43 0.49 0.70 1.84
’22 (0.29) (0.61) 0.10 0.20 (0.49)
’21 (0.87) (0.72) (0.64) (0.92) (3.14)
’20 (0.46) (2.74) (0.94) (0.72) (4.86)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 326 342 — — —
’25 333 341 341 337 1,353
’24 321 339 340 345 1,346
’23 193 215 299 303 1,010
’22 106 163 192 187 648
’21 84 90 92 105 371
’20 116 102 86 92 397
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 19 67 — — —
’25 80 74 72 153 379
’24 55 79 49 100 282
’23 13 10 35 47 104
’22 (12) (22) 28 45 40
’21 6 5 (2) 7 15
’20 (28) 15 15 2 4
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 8 64 — — —
’25 74 76 68 136 353
’24 56 75 43 81 255
’23 10 4 21 38 73
’22 (13) (18) 22 32 24
’21 16 23 1 1 40
’20 (21) 25 25 (1) 27
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 979 330 407 487 397 371 648 1,010 1,346 1,353 1,346 +3.7% 1,446 1,699 1,773 +9.4%
Gross margin, % 18.71 3.60 32.33 31.77 31.45 28.84 38.33 44.47 48.24 49.22 48.09 +30.5 pt
EBT (140) (1,685) (154) (113) (198) (124) (2) 139 229 220 161 n/m
EBT margin, % (14.25) (510.37) (37.76) (23.33) (49.78) (33.36) (0.36) 13.76 17.05 16.28 11.92 +30.5 pt
Net income (160) (650) (172) (141) (197) (130) (22) 96 179 333 245 n/m
Per share, $
Per share, $ Revenue 654.67 14.93 15.29 12.74 9.84 9.05 14.68 19.58 25.66 27.03 27.07 (29.8%)
Earnings (107.12) (13.81) (6.45) (3.71) (4.86) (3.14) (0.49) 1.88 3.44 6.69 4.98 n/m
Cash flow 169.41 (2.58) 0.15 (0.82) 0.10 0.37 0.91 2.02 5.39 7.57 6.26 (29.2%)
Capex 0.00 0.00 0.93 0.28 0.58 0.61 (0.38) (0.61) (0.53) (0.51) (0.73) n/m
Free cash flow 169.41 (2.58) 1.08 (0.54) 0.68 0.98 0.53 1.41 4.86 7.06 5.53 (29.7%)
Book value 1,537.95 46.21 43.06 26.60 20.40 17.11 19.62 20.11 21.18 27.20 27.91 (36.1%)
Shares, m 1 22 27 38 40 41 44 52 52 50 50 +47.7%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 37.55 15.86 7.52 13.92 6.1
P/S 8.32 0.95 1.25 1.51 0.88 1.18 2.34 3.59 2.13 1.87 2.56 2.4
P/B 3.14 0.48 0.44 0.72 0.42 0.63 1.75 3.49 2.58 1.86 2.48 1.6
EV/Sales 12.61 0.94 1.35 1.65 0.98 1.23 2.35 4.04 2.36 1.93 2.59 2.9
EV/FCF (288.64) (62.28) 19.18 (38.96) 14.22 11.43 64.52 56.21 12.48 7.37 12.68 (20.4)
Cash, $m
Cash, $m Operating cash flow 253 (57) 4 (31) 4 15 40 104 282 379 311 +4.6%
Capex (194) (12) 25 11 23 25 (17) (32) (28) (26) (36) (20.1%)
Free cash flow 253 (57) 29 (21) 27 40 24 73 255 353 275 +3.8%
Balance, $m
Balance, $m Working capital (1,136) 625 525 352 205 185 183 262 367 599 697 n/m
Net debt 1,374 (5) 41 65 41 19 6 459 310 76 40 (27.5%)
Shareholders’ equity 2,300 1,022 1,145 1,016 823 702 866 1,038 1,111 1,361 1,388 (5.7%)
Returns, %
Returns, % ROA (3.21) 0.00 (9.56) (8.32) (13.87) (10.99) (1.82) 5.78 8.73 15.00 11.12 +18.2 pt
ROIC 0.00 0.00 (5.66) (5.01) (13.51) (8.24) 1.92 7.61 13.69 12.29 10.86 +12.3 pt
ROE (6.96) 0.00 (15.83) (13.12) (21.33) (16.91) (2.77) 10.21 16.81 27.07 19.56 +34.0 pt
People
People Employees 6,550 5,510 5,500 5,300 5,400 4,400 6,300 7,300 7,700 7,300 — +1.2%
Revenue/emp, $m 0.00 0.00 0.07 0.09 0.07 0.08 0.10 0.14 0.17 0.19 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Tidewater Inc. vs peers in Oil & Gas Equipment & Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AROC Archrock, Inc. $4.7B 13.8× 18.4× −3.04% (below 0%: shrinking) +21.00% (above 0%: growing) +28.48% (above 0%: growing) 66.83% 39.53% Compare
WHD Cactus, Inc. $4.4B 37.6× 23.4× +63.24% (above 0%: growing) +45.90% (above 0%: growing) −95.60% (below 0%: shrinking) 36.40% 21.83% Compare
SEI Solaris Energy Infrastructure, Inc. $4.1B 50.4× 49.5× +46.92% (above 0%: growing) +13.33% (above 0%: growing) −89.73% (below 0%: shrinking) 57.55% 25.76% Compare
KGS Kodiak Gas Services, Inc. $3.9B 46.4× 24.4× +21.15% (above 0%: growing) +22.73% (above 0%: growing) −194.00% (below 0%: shrinking) 63.09% 31.76% Compare
USAC USA Compression Partners, LP $3.5B 21.5× 20.9× +42.73% (above 0%: growing) +22.22% (above 0%: growing) −74.45% (below 0%: shrinking) 62.19% 28.60% Compare
TDW Tidewater Inc. $3.4B 13.9× 32.8× +0.25% (above 0%: growing) −70.07% (below 0%: shrinking) −15.92% (below 0%: shrinking) 46.88% 18.27%
OII Oceaneering International, Inc. $3.4B 10.4× 21.1× +5.61% (above 0%: growing) −26.76% (below 0%: shrinking) +66.85% (above 0%: growing) 20.97% 11.75% Compare
WBI WaterBridge Infrastructure LLC $3.0B 127× 205× +94.86% (above 0%: growing) n/m +325.23% (above 0%: growing) 0.00% 17.20% Compare
EROK EagleRock Land LLC $2.4B — — — n/m — 79.13% (128.01%) Compare
Median of peers $3.7B 37.6× 23.4× +42.73% +21.61% −74.45% 59.87% 23.80%

All 48 Oil & Gas Equipment & Services stocks →

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 5.73m 4.35m 585.00
2024 5.87m 688.33k 633.00
2023 4.96m 24.64m 835.00
2022 5.54m 21.69m 427.00
2021 3.02m 3.86m 124.00

Ownership

Directors and executive officers, together 5.90%
BlackRock, Inc. 14.20%
T. Rowe Price Associates, Inc. 8.90%
Neuberger Berman Group LLC 6.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Tidewater Inc. (TDW) Latest News

18 Oct

Impact 4 · · Simply Wall St.

14 Oct

Impact 3 · · Insider Monkey

30 Sep

Impact 3 · · StockStory

22 Sep

Impact 3 · · StockStory

8 Sep

Impact 3 ·

31 Aug

Impact 4 ·
Impact 4 ·

15 Aug

Impact 3 ·

14 Aug

Impact 3 · · MarketBeat transcript
Impact 3 · · MarketBeat

11 Aug

Impact 3 ·

10 Aug

Impact 4 · · The Motley Fool transcript

9 Aug

Impact 4 · · MarketBeat

4 Aug

Impact 4 · transcript
Impact 3 · · Moby transcript

3 Aug

Impact 3 ·
Impact 3 ·
Impact 3 ·

2 Aug

Impact 4 ·

10 Jul

Impact 3 ·

29 Jun

Impact 4 ·

22 Jun

Impact 4 · · Insider Monkey

13 Jun

Impact 3 ·

1 Jun

Impact 3 · · StockStory

13 May

Impact 3 · · StockStory

10 May

Impact 4 · · Simply Wall St.

5 May

Impact 4 · · StockStory
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

4 May

Impact 3 · · Zacks

TDW metrics, ten years each

stockrow.com/TDW · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com