What is Tidewater's earnings per share (EPS)?

Tidewater (TDGMW) reported diluted earnings per share of $6.64 for fiscal year 2025. This represents a 95.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tidewater Financials

TDGMW

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Tidewater (TDGMW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 68/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Tidewater has an operating margin of 20.9%, meaning the company retains $21 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is down from 23.1% the prior year.

Growth

Tidewater's revenue grew a modest 0.5% year-over-year to $1.4B. This slow but positive growth earns a score of 34/100.

Leverage

Tidewater carries a low D/E ratio of 0.48, meaning only $0.48 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Tidewater's current ratio of 2.90 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Tidewater converts 26.1% of revenue into free cash flow ($353.3M). This strong cash generation earns a score of 90/100.

Returns

Tidewater earns a strong 24.5% return on equity (ROE), meaning it generates $25 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 66/100. This is up from 16.2% the prior year.

Piotroski F-Score Strong

7/9

Tidewater passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.13x

For every $1 of reported earnings, Tidewater generates $1.13 in operating cash flow ($379.1M OCF vs $334.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.3x

Tidewater earns $4.3 in operating income for every $1 of interest expense ($282.6M vs $66.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.4B

YoY+0.5%

5Y CAGR+27.8%

10Y CAGR-1.0%

Tidewater generated $1.4B in revenue in fiscal year 2025. This represents an increase of 0.5% from the prior year.

EBITDA

$433.7M

YoY-7.2%

10Y CAGR+12.1%

Tidewater's EBITDA was $433.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.2% from the prior year.

Net Income

$334.7M

YoY+85.2%

Tidewater reported $334.7M in net income in fiscal year 2025. This represents an increase of 85.2% from the prior year.

EPS (Diluted)

$6.64

YoY+95.3%

Tidewater earned $6.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 95.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$353.3M

YoY+38.6%

Tidewater generated $353.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 38.6% from the prior year.

Cash & Debt

$578.8M

YoY+78.1%

5Y CAGR+31.0%

10Y CAGR+22.1%

Tidewater held $578.8M in cash against $649.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

50M

YoY-3.7%

5Y CAGR+4.0%

10Y CAGR+0.5%

Tidewater had 50M shares outstanding in fiscal year 2025. This represents a decrease of 3.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

20.9%

YoY-2.2pp

5Y CAGR+67.9pp

10Y CAGR+23.4pp

Tidewater's operating margin was 20.9% in fiscal year 2025, reflecting core business profitability. This is down 2.2 percentage points from the prior year.

Net Margin

24.7%

YoY+11.3pp

5Y CAGR+74.2pp

10Y CAGR+29.1pp

Tidewater's net profit margin was 24.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11.3 percentage points from the prior year.

Return on Equity

24.5%

YoY+8.3pp

5Y CAGR+48.4pp

10Y CAGR+27.1pp

Tidewater's ROE was 24.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$90.1M

YoY-0.7%

10Y CAGR-1.0%

Tidewater spent $90.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 0.7% from the prior year.

Capital Expenditures

$25.8M

YoY-6.6%

5Y CAGR+11.6%

10Y CAGR-23.3%

Tidewater invested $25.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.6% from the prior year.

TDGMW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.4B+0.5%	$1.3B+33.3%	$1.0B+55.9%	$647.7M+74.6%	$371.0M-6.5%	$397.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	-$29.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$134.5M+21.4%	$110.8M+16.3%	$95.3M-6.5%	$101.9M+48.8%	$68.5M-6.7%	$73.4M
Operating Income	$282.6M-9.2%	$311.3M+70.9%	$182.2M+582.2%	$26.7M+128.1%	-$95.0M+49.1%	-$186.8M
Interest Expense	$66.1M-9.7%	$73.2M+50.2%	$48.7M+179.9%	$17.4M+11.6%	$15.6M-35.4%	$24.2M
Income Tax	-$113.2M-325.4%	$50.2M+16.0%	$43.3M+117.8%	$19.9M+238.5%	$5.9M+708.8%	-$965K
Net Income	$334.7M+85.2%	$180.7M+85.9%	$97.2M+546.8%	-$21.7M+83.1%	-$129.0M+34.3%	-$196.2M
EPS (Diluted)	$6.64+95.3%	$3.40+84.8%	$1.84+475.5%	$-0.49+84.4%	$-3.14+35.4%	$-4.86

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$336.8M-1.3%	$341.1M-0.1%	$341.4M+2.4%	$333.4M-3.4%	$345.1M+1.4%	$340.4M+0.3%	$339.2M+5.6%	$321.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$39.0M+10.5%	$35.3M+13.0%	$31.2M+7.3%	$29.1M-5.2%	$30.7M+7.8%	$28.5M+8.1%	$26.3M+3.9%	$25.3M
Operating Income	$64.0M+2.1%	$62.7M-22.6%	$80.9M+7.8%	$75.0M-7.8%	$81.4M+16.3%	$69.9M-10.5%	$78.1M-4.6%	$81.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$166.6M-867.4%	$21.7M+288.8%	$5.6M-78.6%	$26.1M+59.4%	$16.4M+27.1%	$12.9M+63.3%	$7.9M-39.7%	$13.1M
Net Income	$219.9M+27380.9%	-$806K-101.1%	$72.9M+71.0%	$42.7M+15.6%	$36.9M-20.4%	$46.4M-7.9%	$50.4M+7.1%	$47.0M
EPS (Diluted)	N/A	$-0.02-101.4%	$1.46+75.9%	$0.83	N/A	$0.87-7.4%	$0.94+5.6%	$0.89

TDGMW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.4B+15.0%	$2.1B+0.6%	$2.1B+59.0%	$1.3B+18.4%	$1.1B-12.4%	$1.3B
Current Assets	$914.1M+30.8%	$698.7M+18.2%	$591.1M+56.4%	$377.9M+10.3%	$342.7M-11.8%	$388.6M
Cash & Equivalents	$578.8M+78.1%	$324.9M+18.4%	$274.4M+67.1%	$164.2M+10.2%	$149.0M-0.6%	$149.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.0B+6.3%	$960.8M-6.1%	$1.0B+137.1%	$431.7M+9.4%	$394.5M-8.1%	$429.1M
Current Liabilities	$315.2M-4.9%	$331.6M+0.9%	$328.7M+68.8%	$194.8M+23.3%	$157.9M-13.8%	$183.2M
Long-Term Debt	$649.0M+13.5%	$571.7M-9.4%	$631.4M+273.5%	$169.0M+0.7%	$167.9M+1.8%	$164.9M
Total Equity	$1.4B+22.6%	$1.1B+7.2%	$1.0B+20.0%	$866.0M+23.5%	$701.3M-14.7%	$822.1M
Retained Earnings	-$305.2M+44.4%	-$548.8M+14.0%	-$637.8M+8.8%	-$699.6M-3.2%	-$677.9M-23.5%	-$548.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$2.4B+12.1%	$2.1B+2.6%	$2.1B+0.4%	$2.1B-0.4%	$2.1B+1.4%	$2.0B-2.0%	$2.1B+0.6%	$2.1B
Current Assets	$914.1M+14.2%	$800.3M+10.5%	$724.5M+3.8%	$698.2M-0.1%	$698.7M+11.6%	$626.0M-3.2%	$646.9M+5.1%	$615.5M
Cash & Equivalents	$578.8M+35.2%	$428.2M+15.9%	$369.4M+8.1%	$341.8M+5.2%	$324.9M+15.7%	$280.8M-11.1%	$315.9M+12.5%	$280.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.0B+3.6%	$986.2M+5.5%	$934.7M-1.9%	$952.5M-0.9%	$960.8M+3.2%	$930.7M-7.7%	$1.0B-1.2%	$1.0B
Current Liabilities	$315.2M+14.0%	$276.5M-19.4%	$343.1M+1.6%	$337.5M+1.8%	$331.6M+21.2%	$273.6M-19.6%	$340.2M+0.3%	$339.1M
Long-Term Debt	$649.0M-0.1%	$649.8M+22.2%	$531.9M-4.3%	$556.0M-2.7%	$571.7M-4.3%	$597.4M-1.8%	$608.0M-2.0%	$620.3M
Total Equity	$1.4B+19.5%	$1.1B+0.3%	$1.1B+2.3%	$1.1B0.0%	$1.1B-0.2%	$1.1B+3.3%	$1.1B+2.3%	$1.1B
Retained Earnings	-$305.2M+41.9%	-$525.0M-0.2%	-$524.2M+4.0%	-$545.9M+0.5%	-$548.8M-1.4%	-$541.2M+5.6%	-$573.4M+3.5%	-$594.3M

TDGMW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$379.1M+34.2%	$282.5M+171.1%	$104.2M+159.0%	$40.2M+168.1%	$15.0M+276.5%	$4.0M
Capital Expenditures	$25.8M-6.6%	$27.6M-12.7%	$31.6M+89.9%	$16.6M+85.9%	$9.0M-39.9%	$14.9M
Free Cash Flow	$353.3M+38.6%	$254.9M+251.1%	$72.6M+207.8%	$23.6M+289.6%	$6.1M+155.5%	-$10.9M
Investing Cash Flow	-$7.5M-3879.8%	-$188K+100.0%	-$610.3M-2463.2%	-$23.8M-195.0%	$25.1M+7.1%	$23.4M
Financing Cash Flow	-$136.0M+38.9%	-$222.6M-136.2%	$615.6M+22764.1%	-$2.7M+93.4%	-$41.0M+58.9%	-$99.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$90.1M-0.7%	$90.7M+159.1%	$35.0M	$0	$0	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$153.0M+179.4%	$54.7M-35.9%	$85.4M-0.6%	$86.0M-14.1%	$100.0M+104.1%	$49.0M-37.7%	$78.6M+43.6%	$54.8M
Capital Expenditures	$5.1M+0.5%	$5.1M-2.0%	$5.2M-49.1%	$10.3M+126.4%	$4.5M-20.6%	$5.7M-10.6%	$6.4M-41.6%	$10.9M
Free Cash Flow	$147.8M+197.9%	$49.6M-38.1%	$80.2M+5.9%	$75.7M-20.7%	$95.5M+120.5%	$43.3M-40.1%	$72.3M+64.9%	$43.8M
Investing Cash Flow	$184K+104.7%	-$3.9M-286.4%	$2.1M+135.9%	-$5.8M-201.2%	$5.8M+239.2%	-$4.2M-24.6%	-$3.3M-319.3%	$1.5M
Financing Cash Flow	-$3.6M+55.0%	-$8.0M+87.7%	-$65.1M-10.0%	-$59.2M-1.7%	-$58.2M+23.7%	-$76.3M-75.6%	-$43.5M+2.5%	-$44.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0-100.0%	$50.8M+29.4%	$39.3M-10.9%	$44.1M+221.0%	$13.7M-53.3%	$29.4M+739.7%	$3.5M

TDGMW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	-7.5%
Operating Margin	20.9%-2.2pp	23.1%+5.1pp	18.0%+13.9pp	4.1%+29.7pp	-25.6%+21.4pp	-47.0%
Net Margin	24.7%+11.3pp	13.4%+3.8pp	9.6%+13.0pp	-3.4%+31.4pp	-34.8%+14.7pp	-49.4%
Return on Equity	24.5%+8.3pp	16.2%+6.9pp	9.3%+11.9pp	-2.5%+15.9pp	-18.4%+5.5pp	-23.9%
Return on Assets	14.0%+5.3pp	8.7%+4.0pp	4.7%+6.4pp	-1.7%+10.1pp	-11.8%+3.9pp	-15.7%
Current Ratio	2.90+0.8	2.11+0.3	1.80-0.1	1.94-0.2	2.17+0.0	2.12
Debt-to-Equity	0.48-0.0	0.51-0.1	0.61+0.4	0.20-0.0	0.24+0.0	0.20
FCF Margin	26.1%+7.2pp	18.9%+11.8pp	7.2%+3.6pp	3.6%+2.0pp	1.6%+4.4pp	-2.8%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	19.0%+0.6pp	18.4%-5.3pp	23.7%+1.2pp	22.5%-1.1pp	23.6%+3.0pp	20.5%-2.5pp	23.0%-2.5pp	25.5%
Net Margin	65.3%+65.5pp	-0.2%-21.6pp	21.4%+8.6pp	12.8%+2.1pp	10.7%-2.9pp	13.6%-1.2pp	14.8%+0.2pp	14.6%
Return on Equity	16.1%+16.2pp	-0.1%-6.5pp	6.4%+2.6pp	3.8%+0.5pp	3.3%-0.8pp	4.2%-0.5pp	4.7%+0.2pp	4.5%
Return on Assets	9.2%+9.3pp	-0.0%-3.6pp	3.5%+1.5pp	2.1%+0.3pp	1.8%-0.5pp	2.3%-0.1pp	2.4%+0.2pp	2.3%
Current Ratio	2.900.0	2.89+0.8	2.11+0.0	2.07-0.0	2.11-0.2	2.29+0.4	1.90+0.1	1.81
Debt-to-Equity	0.48-0.1	0.57+0.1	0.47-0.0	0.50-0.0	0.51-0.0	0.54-0.0	0.56-0.0	0.59
FCF Margin	43.9%+29.3pp	14.5%-8.9pp	23.5%+0.8pp	22.7%-5.0pp	27.7%+14.9pp	12.7%-8.6pp	21.3%+7.6pp	13.7%

Frequently Asked Questions

What is Tidewater's annual revenue?

Tidewater (TDGMW) reported $1.4B in total revenue for fiscal year 2025. This represents a 0.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Tidewater's revenue growing?

Tidewater (TDGMW) revenue grew by 0.5% year-over-year, from $1.3B to $1.4B in fiscal year 2025.

Is Tidewater profitable?

Yes, Tidewater (TDGMW) reported a net income of $334.7M in fiscal year 2025, with a net profit margin of 24.7%.

What is Tidewater's EBITDA?

Tidewater (TDGMW) had EBITDA of $433.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Tidewater have?

As of fiscal year 2025, Tidewater (TDGMW) had $578.8M in cash and equivalents against $649.0M in long-term debt.

What is Tidewater's operating margin?

Tidewater (TDGMW) had an operating margin of 20.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Tidewater's net profit margin?

Tidewater (TDGMW) had a net profit margin of 24.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Tidewater's return on equity (ROE)?

Tidewater (TDGMW) has a return on equity of 24.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Tidewater's free cash flow?

Tidewater (TDGMW) generated $353.3M in free cash flow during fiscal year 2025. This represents a 38.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Tidewater's operating cash flow?

Tidewater (TDGMW) generated $379.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Tidewater's total assets?

Tidewater (TDGMW) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Tidewater's capital expenditures?

Tidewater (TDGMW) invested $25.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Tidewater buy back shares?

Yes, Tidewater (TDGMW) spent $90.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Tidewater have outstanding?

Tidewater (TDGMW) had 50M shares outstanding as of fiscal year 2025.

What is Tidewater's current ratio?

Tidewater (TDGMW) had a current ratio of 2.90 as of fiscal year 2025, which is generally considered healthy.

What is Tidewater's debt-to-equity ratio?

Tidewater (TDGMW) had a debt-to-equity ratio of 0.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Tidewater's return on assets (ROA)?

Tidewater (TDGMW) had a return on assets of 14.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Tidewater's Piotroski F-Score?

Tidewater (TDGMW) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tidewater's earnings high quality?

Tidewater (TDGMW) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Tidewater cover its interest payments?

Tidewater (TDGMW) has an interest coverage ratio of 4.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Tidewater?

Tidewater (TDGMW) scores 68 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.