(TDW) Tidewater - NYSE
Sector: Energy | Industry: Oil & Gas Equipment & Services | Exchange: NYSE (USA) | Market Cap: 3.216m USD | Total Return: 39.1% in 12m
Avg Turnover: 51.8M
EPS Trend: 73.5%
Qual. Beats: -2
Rev. Trend: 85.7%
Qual. Beats: 0
Warnings
Earnings expected to drop: P/E 10.9 → Forward 36.4
Below Avwap Earnings
Tailwinds
No distinct edge detected
Tidewater Inc. (TDW) operates a global fleet of offshore service vessels supporting the entire lifecycle of offshore energy production, including oil, natural gas, and offshore wind. Its operations span five geographic segments: Americas, Asia Pacific, Middle East, Europe/Mediterranean, and West Africa. The company provides critical logistics, including anchor handling, supply transportation, subsea support, and decommissioning services for integrated oil majors, independent producers, and windfarm developers.
The offshore vessel industry is highly cyclical and capital-intensive, with demand closely tied to offshore capital expenditure budgets and global utilization rates. Unlike onshore services, the offshore marine sector often features longer contract durations, providing a degree of revenue visibility during periods of stable energy prices. Investors may find it useful to review the company’s valuation metrics on ValueRay.
Headquartered in Houston, Texas, Tidewater maintains a diverse fleet consisting of platform supply vessels, crew boats, and specialty tugs. This diversified fleet allows the company to pivot between traditional hydrocarbon exploration and the emerging renewable energy sector, specifically supporting geotechnical surveys and cable laying for offshore wind installations.
- Rising day rates for platform supply vessels drive significant operating margin expansion
- Global offshore oil and gas capital expenditure increases demand for support fleets
- Consolidation of offshore vessel industry reduces competition and improves fleet utilization rates
- Expansion into offshore wind farm maintenance provides long-term revenue stream diversification
- High financial leverage and debt servicing costs impact net income during market volatility
| Net Income: 298.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -1.42 > 1.0 |
| NWC/Revenue: 46.80% < 20% (prev 26.56%; Δ 20.24% < -1%) |
| CFO/TA 0.13 > 3% & CFO 312.2m > Net Income 298.1m |
| Net Debt (126.5m) to EBITDA (467.1m): 0.27 < 3 |
| Current Ratio: 3.33 > 1.5 & < 3 |
| Outstanding Shares: last quarter (49.6m) vs 12m ago -3.71% < -2% |
| Gross Margin: 29.32% > 18% (prev 30.32%; Δ -1.00% > 0.5%) |
| Asset Turnover: 61.07% > 50% (prev 65.73%; Δ -4.66% > 0%) |
| Interest Coverage Ratio: 3.89 > 6 (EBIT TTM 259.3m / Interest Expense TTM 66.6m) |
| A: 0.27 (Total Current Assets 899.6m - Total Current Liabilities 269.9m) / Total Assets 2.34b |
| B: -0.13 (Retained Earnings -299.0m / Total Assets 2.34b) |
| C: 0.12 (EBIT TTM 259.3m / Avg Total Assets 2.20b) |
| D: 1.40 (Book Value of Equity 1.37b / Total Liabilities 976.7m) |
| Altman-Z'' = 3.61 = AA |
| DSRI: 0.97 (Receivables 299.7m/312.9m, Revenue 1.35b/1.36b) |
| GMI: 1.03 (GM 30.32% / 29.32%) |
| AQI: 1.61 (AQ_t 0.16 / AQ_t-1 0.10) |
| SGI: 0.99 (Revenue 1.35b / 1.36b) |
| TATA: -0.01 (NI 298.1m - CFO 312.2m) / TA 2.34b) |
| Beneish M = -2.67 (Cap -4..+1) = A |
As of June 21, 2026, the stock is trading at USD 64.67 with a total of 1,959,400 shares traded.
Over the past week, the price has changed by -12.87%,
over one month by -22.90%,
over three months by -12.94% and
over the past year by +39.08%.
Tidewater has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold TDW.
- StrongBuy: 0
- Buy: 2
- Hold: 5
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 86.6 | 33.9% |
P/E Trailing = 10.9056
P/E Forward = 36.3636
P/S = 2.3901
P/B = 2.3504
P/EG = -0.04
Revenue TTM = 1.35b USD
EBIT TTM = 259.3m USD
EBITDA TTM = 467.1m USD
Long Term Debt = 648.6m USD (from longTermDebt, last quarter)
Short Term Debt = 5.76m USD (from shortTermDebt, last quarter)
Debt = 678.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 24.4m
Net Debt = 126.5m USD (calculated: Debt 678.7m - CCE 552.3m)
Enterprise Value = 3.34b USD (3.22b + Debt 678.7m - CCE 552.3m)
Interest Coverage Ratio = 3.89 (Ebit TTM 259.3m / Interest Expense TTM 66.6m)
EV/FCF = 11.86x (Enterprise Value 3.34b / FCF TTM 281.8m)
FCF Yield = 8.43% (FCF TTM 281.8m / Enterprise Value 3.34b)
FCF Margin = 20.95% (FCF TTM 281.8m / Revenue TTM 1.35b)
Net Margin = 22.16% (Net Income TTM 298.1m / Revenue TTM 1.35b)
Gross Margin = 29.32% ((Revenue TTM 1.35b - Cost of Revenue TTM 951.1m) / Revenue TTM)
Gross Margin QoQ = 28.40% (prev 29.06%)
Tobins Q-Ratio = 1.43 (Enterprise Value 3.34b / Total Assets 2.34b)
Interest Expense / Debt = 9.82% (Interest Expense 66.6m / Debt 678.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 204.9m (EBIT 259.3m * (1 - 21.00%))
Current Ratio = 3.33 (Total Current Assets 899.6m / Total Current Liabilities 269.9m)
Debt / Equity = 0.50 (Debt 678.7m / totalStockholderEquity, last quarter 1.37b)
Debt / EBITDA = 0.27 (Net Debt 126.5m / EBITDA 467.1m)
Debt / FCF = 0.45 (Net Debt 126.5m / FCF TTM 281.8m)
Total Stockholder Equity = 1.25b (last 4 quarters mean from totalStockholderEquity)
RoA = 13.53% (Net Income 298.1m / Total Assets 2.34b)
RoE = 23.78% (Net Income TTM 298.1m / Total Stockholder Equity 1.25b)
RoCE = 13.63% (EBIT 259.3m / Capital Employed (Equity 1.25b + L.T.Debt 648.6m))
RoIC = 10.20% (NOPAT 204.9m / Invested Capital 2.01b)
WACC = 8.73% (E(3.22b)/V(3.89b) * Re(8.93%) + D(678.7m)/V(3.89b) * Rd(9.82%) * (1-Tc(0.21)))
Discount Rate = 8.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -77.78 | Cagr: -3.72%
[DCF] Terminal Value 74.31% ; FCFF base≈280.4m ; Y1≈284.6m ; Y5≈308.2m
[DCF] Fair Price = 87.83 (EV 4.49b - Net Debt 126.5m = Equity 4.37b / Shares 49.7m; r=8.73% [WACC]; 5y FCF grow 1.32% → 2.50% )
EPS Correlation: 73.47 | EPS CAGR: 38.01% | SUE: -1.39 | # QB: -2
Revenue Correlation: 85.71 | Revenue CAGR: 19.71% | SUE: 0.21 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.48 | Chg30d=-37.49% | Revisions=+0% | Analysts=4
EPS next Quarter (2026-09-30): EPS=1.36 | Chg30d=-4.44% | Revisions=+14% | Analysts=4
EPS current Year (2026-12-31): EPS=3.51 | Chg30d=-5.44% | Revisions=-43% | GrowthEPS=+4.6% | GrowthRev=+7.2%
EPS next Year (2027-12-31): EPS=6.27 | Chg30d=+3.57% | Revisions=-25% | GrowthEPS=+78.5% | GrowthRev=+13.4%
[Analyst] Revisions Ratio: -43%