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 $4.3B against $3.7B — 1.2× the size. Tidewater Inc. trades at the lower P/E: 17.0× against 373×. 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 17.02 372.50 24.78
P/S 3.13 1.94 1.28
P/B 3.04 0.79 1.85
Price to free cash flow 15.33 n/m 15.03
EV/EBITDA 8.22 8.33 8.93
EV/Sales 3.16 4.02 1.40
Earnings yield 5.88% 0.27% 3.12%
Free cash flow yield 6.52% (8.31%) 5.01%

Profitability

Metric TDW WBI Oil & Gas Equipment & Services median
Gross margin 48.09% 56.99% 23.27%
Operating margin 18.43% 15.54% 9.34%
Net margin 18.34% (0.63%) 4.69%
Free cash flow margin 20.42% (16.08%) 5.05%
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% — —
Revenue growth, 5-year CAGR 27.78% — 10.60%
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 2.11
Net debt to EBITDA 0.14 6.16 0.76

Dividend

Metric TDW WBI Oil & Gas Equipment & Services median
Dividend yield 0.17% — 2.12%
Payout ratio 0.00 — 0.00

Size

Metric TDW WBI Oil & Gas Equipment & Services median
Market cap 4.32b 3.70b 1.81b

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