Tidewater Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Tidewater Inc has an operating margin of 23.1%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 18.0% the prior year.
Tidewater Inc's revenue surged 33.3% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Tidewater Inc carries a low D/E ratio of 0.51, meaning only $0.51 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.
Tidewater Inc's current ratio of 2.11 indicates adequate short-term liquidity, earning a score of 64/100. The company can meet its near-term obligations, though with limited headroom.
Tidewater Inc converts 18.3% of revenue into free cash flow ($246.3M). This strong cash generation earns a score of 91/100.
Tidewater Inc earns a strong 16.2% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 65/100. This is up from 9.3% the prior year.
Tidewater Inc scores 3.15, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.5B) relative to total liabilities ($960.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Tidewater Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Tidewater Inc generates $1.52 in operating cash flow ($273.8M OCF vs $180.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Tidewater Inc earns $4.3 in operating income for every $1 of interest expense ($311.3M vs $73.2M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
This page shows Tidewater Inc (TDW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Key Financial Metrics
Tidewater Inc generated $1.3B in revenue in fiscal year 2024. This represents an increase of 33.3% from the prior year.
Tidewater Inc's EBITDA was $467.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 50.3% from the prior year.
Tidewater Inc generated $246.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 236.8% from the prior year.
Tidewater Inc reported $180.7M in net income in fiscal year 2024. This represents an increase of 85.9% from the prior year.
Tidewater Inc earned $3.40 per diluted share (EPS) in fiscal year 2024. This represents an increase of 84.8% from the prior year.
Tidewater Inc held $324.9M in cash against $571.7M in long-term debt as of fiscal year 2024.
Tidewater Inc had 51M shares outstanding in fiscal year 2024. This represents a decrease of 1.5% from the prior year.
Tidewater Inc's operating margin was 23.1% in fiscal year 2024, reflecting core business profitability. This is up 5.1 percentage points from the prior year.
Tidewater Inc's net profit margin was 13.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.8 percentage points from the prior year.
Tidewater Inc's ROE was 16.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 6.9 percentage points from the prior year.
Tidewater Inc spent $90.7M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 159.1% from the prior year.
Tidewater Inc invested $27.6M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 12.7% from the prior year.
TDW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $341.1M-0.1% | $341.4M+2.4% | $333.4M-3.4% | $345.1M+1.7% | $339.2M+5.6% | $321.2M+6.1% | $302.7M+1.1% | $299.3M |
| 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 | $35.3M+13.0% | $31.2M+7.3% | $29.1M-5.2% | $30.7M+16.6% | $26.3M+3.9% | $25.3M+2.4% | $24.7M+17.7% | $21.0M |
| Operating Income | $62.7M-22.6% | $80.9M+7.8% | $75.0M-7.8% | $81.4M+4.2% | $78.1M-4.6% | $81.9M+29.8% | $63.1M+13.3% | $55.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $21.7M+288.8% | $5.6M-78.6% | $26.1M+59.4% | $16.4M+107.6% | $7.9M-39.7% | $13.1M+21.1% | $10.8M+16.6% | $9.3M |
| Net Income | -$806K-101.1% | $72.9M+71.0% | $42.7M+15.6% | $36.9M-26.7% | $50.4M+7.1% | $47.0M+24.9% | $37.7M+43.8% | $26.2M |
| EPS (Diluted) | $-0.02-101.4% | $1.46+75.9% | $0.83+18.6% | $0.70-25.5% | $0.94+5.6% | $0.89+25.4% | $0.71+44.9% | $0.49 |
TDW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.1B+2.6% | $2.1B+0.4% | $2.1B-0.4% | $2.1B-0.7% | $2.1B+0.6% | $2.1B+0.7% | $2.1B-0.4% | $2.1B |
| Current Assets | $800.3M+10.5% | $724.5M+3.8% | $698.2M-0.1% | $698.7M+8.0% | $646.9M+5.1% | $615.5M+4.1% | $591.1M+2.7% | $575.4M |
| Cash & Equivalents | $428.2M+15.9% | $369.4M+8.1% | $341.8M+5.2% | $324.9M+2.9% | $315.9M+12.5% | $280.9M+2.3% | $274.4M-0.2% | $275.1M |
| 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 | $986.2M+5.5% | $934.7M-1.9% | $952.5M-0.9% | $960.8M-4.7% | $1.0B-1.2% | $1.0B-0.3% | $1.0B-1.5% | $1.0B |
| Current Liabilities | $276.5M-19.4% | $343.1M+1.6% | $337.5M+1.8% | $331.6M-2.5% | $340.2M+0.3% | $339.1M+3.2% | $328.7M-1.1% | $332.5M |
| Long-Term Debt | $649.8M+22.2% | $531.9M-4.3% | $556.0M-2.7% | $571.7M-6.0% | $608.0M-2.0% | $620.3M-1.7% | $631.4M-1.5% | $641.3M |
| Total Equity | $1.1B+0.3% | $1.1B+2.3% | $1.1B0.0% | $1.1B+3.0% | $1.1B+2.3% | $1.1B+1.7% | $1.0B+0.6% | $1.0B |
| Retained Earnings | -$525.0M-0.2% | -$524.2M+4.0% | -$545.9M+0.5% | -$548.8M+4.3% | -$573.4M+3.5% | -$594.3M+6.8% | -$637.8M+0.4% | -$640.1M |
TDW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $54.7M-35.9% | $85.4M-0.6% | $86.0M-6.0% | $91.4M+16.2% | $78.6M+43.6% | $54.8M+16.0% | $47.2M+35.2% | $34.9M |
| Capital Expenditures | $5.1M-2.0% | $5.2M-49.1% | $10.3M+126.4% | $4.5M-29.1% | $6.4M-41.6% | $10.9M+30.5% | $8.4M+47.1% | $5.7M |
| Free Cash Flow | $49.6M-38.1% | $80.2M+5.9% | $75.7M-12.9% | $86.9M+20.2% | $72.3M+64.9% | $43.8M+12.8% | $38.8M+32.9% | $29.2M |
| Investing Cash Flow | -$3.9M-286.4% | $2.1M+135.9% | -$5.8M-201.2% | $5.8M+273.3% | -$3.3M-319.3% | $1.5M+161.2% | -$2.5M+99.6% | -$598.9M |
| Financing Cash Flow | -$8.0M+87.7% | -$65.1M-10.0% | -$59.2M-1.7% | -$58.2M-34.0% | -$43.5M+2.5% | -$44.6M+8.7% | -$48.8M-107.3% | $671.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $50.8M+29.4% | $39.3M-10.9% | $44.1M+50.0% | $29.4M+739.7% | $3.5M-90.0% | $35.0M | $0 |
TDW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 18.4%-5.3pp | 23.7%+1.2pp | 22.5%-1.1pp | 23.6%+0.6pp | 23.0%-2.5pp | 25.5%+4.7pp | 20.8%+2.2pp | 18.6% |
| Net Margin | -0.2%-21.6pp | 21.4%+8.6pp | 12.8%+2.1pp | 10.7%-4.2pp | 14.8%+0.2pp | 14.6%+2.2pp | 12.4%+3.7pp | 8.8% |
| Return on Equity | N/A | 6.4%+2.6pp | 3.8%+0.5pp | 3.3%-1.4pp | 4.7%+0.2pp | 4.5%+0.8pp | 3.6%+1.1pp | 2.5% |
| Return on Assets | -0.0%-3.6pp | 3.5%+1.5pp | 2.1%+0.3pp | 1.8%-0.6pp | 2.4%+0.2pp | 2.3%+0.4pp | 1.8%+0.6pp | 1.3% |
| Current Ratio | 2.89+0.8 | 2.11+0.0 | 2.07-0.0 | 2.11+0.2 | 1.90+0.1 | 1.81+0.0 | 1.80+0.1 | 1.73 |
| Debt-to-Equity | 0.57+0.1 | 0.47-0.0 | 0.50-0.0 | 0.51-0.0 | 0.56-0.0 | 0.59-0.0 | 0.61-0.0 | 0.62 |
| FCF Margin | 14.5%-8.9pp | 23.5%+0.8pp | 22.7%-2.5pp | 25.2%+3.9pp | 21.3%+7.6pp | 13.7%+0.8pp | 12.8%+3.1pp | 9.8% |
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Frequently Asked Questions
What is Tidewater Inc's annual revenue?
Tidewater Inc (TDW) reported $1.3B in total revenue for fiscal year 2024. This represents a 33.3% 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 Inc's revenue growing?
Tidewater Inc (TDW) revenue grew by 33.3% year-over-year, from $1.0B to $1.3B in fiscal year 2024.
Is Tidewater Inc profitable?
Yes, Tidewater Inc (TDW) reported a net income of $180.7M in fiscal year 2024, with a net profit margin of 13.4%.
What is Tidewater Inc's earnings per share (EPS)?
Tidewater Inc (TDW) reported diluted earnings per share of $3.40 for fiscal year 2024. This represents a 84.8% 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.
What is Tidewater Inc's EBITDA?
Tidewater Inc (TDW) had EBITDA of $467.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Tidewater Inc have?
As of fiscal year 2024, Tidewater Inc (TDW) had $324.9M in cash and equivalents against $571.7M in long-term debt.
What is Tidewater Inc's operating margin?
Tidewater Inc (TDW) had an operating margin of 23.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Tidewater Inc's net profit margin?
Tidewater Inc (TDW) had a net profit margin of 13.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Tidewater Inc's return on equity (ROE)?
Tidewater Inc (TDW) has a return on equity of 16.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Tidewater Inc's free cash flow?
Tidewater Inc (TDW) generated $246.3M in free cash flow during fiscal year 2024. This represents a 236.8% 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 Inc's operating cash flow?
Tidewater Inc (TDW) generated $273.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Tidewater Inc's total assets?
Tidewater Inc (TDW) had $2.1B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Tidewater Inc's capital expenditures?
Tidewater Inc (TDW) invested $27.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Tidewater Inc buy back shares?
Yes, Tidewater Inc (TDW) spent $90.7M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Tidewater Inc have outstanding?
Tidewater Inc (TDW) had 51M shares outstanding as of fiscal year 2024.
What is Tidewater Inc's current ratio?
Tidewater Inc (TDW) had a current ratio of 2.11 as of fiscal year 2024, which is generally considered healthy.
What is Tidewater Inc's debt-to-equity ratio?
Tidewater Inc (TDW) had a debt-to-equity ratio of 0.51 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tidewater Inc's return on assets (ROA)?
Tidewater Inc (TDW) had a return on assets of 8.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Tidewater Inc's Altman Z-Score?
Tidewater Inc (TDW) has an Altman Z-Score of 3.15, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Tidewater Inc's Piotroski F-Score?
Tidewater Inc (TDW) has a Piotroski F-Score of 8 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 Inc's earnings high quality?
Tidewater Inc (TDW) has an earnings quality ratio of 1.52x, 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 Inc cover its interest payments?
Tidewater Inc (TDW) 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 Inc?
Tidewater Inc (TDW) scores 85 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.