Tidewater Inc (TDW)
Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide. The company operates through five segments: Americas, Asia Pacific, Middle East, Europe/Mediterranean, and West Africa. It offers phases of offshore crude oil and natural gas exploration, field development, production, maintenance, and windfarm development and maintenance activities; towing and anchor handling for mobile offshore drilling units; transportation of supplies and personnel necessary to sustain drilling, workover, and production operations; and field abandonment, dismantlement, and restoration activities. The company also provides offshore construction; seismic and subsea support; various other specialized services, such as pipe laying, cable laying, and geotechnical survey support for windfarm construction. Its vessels consist of anchor handling towing supply vessels, platform supply vessels, and other specialty vessels, as well as crew boats, utility vessels, and offshore tugs. The company serves integrated and independent oil and gas exploration, development, and production companies; mid-sized and smaller independent exploration and production companies; foreign government-owned or government-controlled organizations engaged in the exploration, development, and production of oil and gas; offshore drilling contractors; and other companies that provide services to the offshore energy industry comprising offshore construction companies, windfarm development companies, diving companies, and well stimulation companies. Tidewater Inc. was incorporated in 1956 and is headquartered in Houston, Texas.
- Symbol
- TDW
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Equipment & Services
- Market cap
- $4.34B
- 52 week range
- 46.65 - 101.58
Valuation
- Share price
- $85.91 (close of 2026-09-23)
- P/E (TTM)
- 17.61x
- Price to book
- 3.12x
- Price to free cash flow
- 15.99x
- Enterprise value
- $4.38B
- Book value per share
- $27.90
Price performance
| Period | Change |
|---|
| 1 day | +0.40% |
| 5 days | -6.41% |
| 1 month | -9.81% |
| 3 months | +29.36% |
| 6 months | +13.88% |
| Year to date | +70.09% |
| 1 year | +55.52% |
| 3 years | +30.34% |
| 5 years | +647.04% |
| 10 years | +9.59% |
| All time | -87.90% |
Profitability and growth
- Return on equity
- 24.58%
- Return on invested capital
- 19.33%
- Return on assets
- 14.02%
- Return on capital employed
- 13.64%
- Gross margin
- 49.69%
- Net margin
- 24.74%
- EBITDA margin
- 40.28%
- Revenue growth
- 0.52%
- Net income growth
- 85.25%
- Free cash flow growth
- 38.63%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 6.25%
- Current ratio
- 3.58x
- Net debt to EBITDA
- 0.10x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $1.35B
- Cost of revenue
- $680.58M
- Gross profit
- $672.20M
- EBITDA
- $544.93M
- Net income
- $334.66M
- Earnings per share
- $6.69
- Interest expense
- $66.12M
- Shares outstanding
- 50.05M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $1.35B | $672.20M | $334.66M | $6.69 |
| 2024-12-31 | $1.35B | $652.73M | $180.66M | $3.44 |
| 2023-12-31 | $1.01B | $453.47M | $97.19M | $1.88 |
| 2022-12-31 | $647.68M | $250.38M | $-21.75M | $-0.49 |
| 2021-12-31 | $371.03M | $109.22M | $-128.97M | $-3.14 |
| 2020-12-31 | $397.04M | $-29.67M | $-196.24M | $-4.86 |
| 2019-12-31 | $486.55M | $6.89M | $-141.74M | $-3.71 |
| 2018-12-31 | $406.52M | $6.07M | $-171.52M | $-6.45 |
| 2017-03-31 | $601.61M | $-59.38M | $-660.12M | $-452.26 |
| 2016-03-31 | $979.06M | $69.57M | $-160.18M | $-110.00 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 49.69% | 24.74% | 24.58% | 19.33% |
| 2024-12-31 | 48.50% | 13.42% | 16.26% | 18.35% |
| 2023-12-31 | 44.90% | 9.62% | 9.37% | 9.27% |
| 2022-12-31 | 38.66% | -3.36% | -2.51% | 1.53% |
| 2021-12-31 | 29.44% | -34.76% | -18.38% | -13.19% |
| 2020-12-31 | -7.47% | -49.43% | -23.84% | -21.46% |
| 2019-12-31 | 1.42% | -29.13% | -13.95% | -7.93% |
| 2018-12-31 | 1.49% | -42.19% | -14.98% | -8.87% |
| 2017-03-31 | -9.87% | -109.73% | -39.98% | -19.40% |
| 2016-03-31 | 7.11% | -16.36% | -6.95% | -1.21% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $578.76M | $649.05M |
| 2024-12-31 | $324.92M | $571.71M |
| 2023-12-31 | $274.44M | $631.36M |
| 2022-12-31 | $164.19M | $169.04M |
| 2021-12-31 | $149.04M | $167.88M |
| 2020-12-31 | $149.93M | $164.93M |
| 2019-12-31 | $218.29M | $279.04M |
| 2018-12-31 | $371.79M | $430.44M |
| 2017-03-31 | $706.40M | - |
| 2016-03-31 | $678.44M | $2.05B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $353.35M | $14.48M |
| 2024-12-31 | $254.89M | $13.68M |
| 2023-12-31 | $72.61M | $10.76M |
| 2022-12-31 | $23.59M | $7.37M |
| 2021-12-31 | $6.05M | $5.64M |
| 2020-12-31 | $-10.91M | $5.12M |
| 2019-12-31 | $-49.42M | $19.60M |
| 2018-12-31 | $-17.45M | $13.41M |
| 2017-03-31 | $4.32M | $3.28M |
| 2016-03-31 | $58.88M | $13.22M |
Dividend history
- Most recent payment
- 2020-12-30
| Payment date | Dividend per share |
|---|
| 2020-12-30 | $0.01 |
| 2017-12-28 | $0.01 |
| 2015-12-02 | $8.06 |
| 2015-09-02 | $8.06 |
| 2015-06-03 | $8.06 |
| 2015-03-04 | $8.06 |
| 2014-12-03 | $8.06 |
| 2014-09-03 | $8.06 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-09
- Consensus EPS estimate
- $0.64
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-03 | Jun/2026 | $0.32 |
| 2026-05-04 | - | - |
| 2026-03-02 | - | - |
| 2025-11-10 | - | - |
| 2025-08-04 | - | - |
| 2025-05-05 | - | - |
| 2025-02-27 | - | - |
| 2024-11-07 | - | - |
Filings and sources
- Company website
- tdw.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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