Tidewater Inc. (TDW) vs WaterBridge Infrastructure LLC (WBI)

Tidewater Inc. and WaterBridge Infrastructure LLC are both Oil & Gas Equipment & Services companies. Tidewater Inc. is the larger, with a market value of $3.9B against $3.6B — 1.1× the size. Tidewater Inc. trades at the lower P/E: 16.0× against 356×. Tidewater Inc. has the higher net margin (18.3% vs −0.63%) and the higher return on invested capital (10.9% vs 2.15%). Across the 17 metrics below, Tidewater Inc. leads on 14 and WaterBridge Infrastructure LLC on 3.

Valuation

Metric TDW WBI Oil & Gas Equipment & Services median
P/E 15.96 356.13 22.50
P/S 2.94 1.85 1.17
P/B 2.85 0.76 1.82
Price to free cash flow 14.38 n/m 13.72
EV/EBITDA 7.71 8.16 8.68
EV/Sales 2.97 3.94 1.34
Earnings yield 6.26% 0.28% 3.94%
Free cash flow yield 6.95% (8.69%) 5.66%

Profitability

Metric TDW WBI Oil & Gas Equipment & Services median
Gross margin 48.09% 56.99% 23.26%
Operating margin 18.43% 15.54% 9.34%
Net margin 18.34% (0.63%) 4.69%
Free cash flow margin 20.42% (16.08%) 5.35%
Return on equity 19.56% (0.38%) 4.92%
Return on assets 11.12% (0.24%) 2.37%
Return on invested capital 10.86% 2.15% 4.32%

Growth

Metric TDW WBI Oil & Gas Equipment & Services median
Revenue growth (TTM) (1.02%) — 6.08%
EPS growth (last fiscal year) 95.29% — (13.00%)
Revenue growth, 5-year CAGR 27.78% — 14.44%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric TDW WBI Oil & Gas Equipment & Services median
Debt to equity 0.47 0.88 0.46
Current ratio 3.58 1.54 2.07
Net debt to EBITDA 0.14 6.16 0.75

Dividend

Metric TDW WBI Oil & Gas Equipment & Services median
Dividend yield — 0.53% 1.51%
Payout ratio — 1.88 0.38

Size

Metric TDW WBI Oil & Gas Equipment & Services median
Market cap 3.94b 3.55b 1.63b

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