W&T Offshore Financials
W&T Offshore (WTI) reported $501.5M in revenue for fiscal year 2025, down 4.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Heavy noncash depreciation keeps cash generation alive while negative equity carries most of the economic strain.
By FY2025, net loss reached-$150.1M while operating cash flow remained positive at$77.2M , a gap that points to heavy noncash depreciation in an asset-heavy model rather than pure cash burn. Because the same pattern was already visible in FY2024, the damage is showing up more in book equity, which fell to-$199.8M , than in near-term liquidity with a current ratio near 1.0x.
Revenue was broadly similar between FY2023 and FY2025, but operating margin moved from
Balance-sheet support now comes more from creditors than from shareholder capital: FY2025 ended with
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of W&T Offshore's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for W&T Offshore, and counted as zero in the overall score.
W&T Offshore scores -0.50, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($573.6M) relative to total liabilities ($1.2B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
W&T Offshore passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
W&T Offshore reported a net loss of $150.1M while generating $77.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
W&T Offshore generated $501.5M in revenue in fiscal year 2025. This represents a decrease of 4.5% from the prior year.
W&T Offshore's EBITDA was $63.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.9% from the prior year.
W&T Offshore reported -$150.1M in net income in fiscal year 2025. This represents a decrease of 72.2% from the prior year.
W&T Offshore earned -$1.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 71.2% from the prior year.
Cash & Balance Sheet
W&T Offshore held $140.6M in cash against $342.4M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
W&T Offshore's operating margin was -10.5% in fiscal year 2025, reflecting core business profitability. This is down 2.5 percentage points from the prior year.
W&T Offshore's net profit margin was -29.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 13.3 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
WTI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $561.9M | $501.5M-4.5% | $525.3M-1.4% | $532.7M-42.2% | $921.0M+65.1% | $558.0M+61.0% | $346.6M-35.2% | $534.9M-7.9% | $580.7M+19.2% | $487.1M+21.8% | $400.0M-21.1% | $507.3M-46.5% | $948.7M-3.6% | $984.1M+12.5% | $874.5M-9.9% | $971.0M |
| SG&A Expenses | $94.5M | $80.0M-3.0% | $82.4M+9.1% | $75.5M+2.4% | $73.7M+40.7% | $52.4M+25.5% | $41.7M-24.2% | $55.1M-8.4% | $60.1M+0.7% | $59.7M0.0% | $59.7M-18.3% | $73.1M-16.0% | $87.0M+6.3% | $81.9M-0.2% | $82.0M+10.4% | $74.3M |
| Operating Income | $5.6M | -$52.8M-25.1% | -$42.2M-243.1% | $29.5M-93.5% | $454.1M+139.4% | $189.7M+23578.2% | $801K-99.3% | $118.5M-52.0% | $247.0M+124.7% | $110.0M+133.3% | -$330.6M+71.1% | -$1.1B-1945.9% | $62.1M-57.7% | $146.7M-13.3% | $169.3M-48.6% | $329.5M |
| Interest Expense | N/A | N/A | N/A | $44.7M-35.6% | $69.4M-0.9% | $70.0M+14.0% | $61.5M+3.2% | $59.6M+22.5% | $48.6M+6.9% | $45.5M | N/A | N/A | N/A | N/A | $63.3M+20.8% | $52.4M |
| Income Tax | $59.2M | $50.9M+610.0% | -$10.0M-154.4% | $18.3M-65.8% | $53.7M+766.0% | -$8.1M+73.3% | -$30.2M+59.9% | -$75.2M-14155.0% | $535K+104.3% | -$12.6M+71.0% | -$43.4M+78.6% | -$203.0M-4452.2% | -$4.5M-115.5% | $28.8M-39.5% | $47.5M-48.0% | $91.5M |
| Net Income | -$108.6M | -$150.1M-72.2% | -$87.1M-658.7% | $15.6M-93.3% | $231.1M+657.3% | -$41.5M-209.8% | $37.8M-49.0% | $74.1M-70.2% | $248.8M+212.3% | $79.7M+132.0% | -$249.0M+76.2% | -$1.0B-8859.1% | -$11.7M-122.7% | $51.3M-28.7% | $72.0M-58.3% | $172.8M |
| EPS (Diluted) | — | -$1.01-71.2% | -$0.59-636.4% | $0.11-93.1% | $1.59+648.3% | -$0.29-211.5% | $0.26-50.0% | $0.52 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WTI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $955.8M-13.0% | $1.1B-1.4% | $1.1B-22.2% | $1.4B+20.0% | $1.2B+26.9% | $940.6M-6.3% | $1.0B+18.2% | $848.9M-6.5% | $907.6M+9.4% | $829.7M-31.3% | $1.2B-55.1% | $2.7B+7.3% | $2.5B+6.7% | $2.3B+25.7% | $1.9B |
| Current Assets | $239.3M+9.5% | $218.5M-17.6% | $265.0M-53.5% | $570.3M+59.2% | $358.3M+234.1% | $107.2M-24.4% | $141.8M-37.3% | $226.2M+18.6% | $190.7M-0.6% | $191.7M+13.2% | $169.3M-0.9% | $170.9M-1.6% | $173.6M-27.7% | $240.1M+49.0% | $161.2M |
| Cash & Equivalents | $140.6M+28.9% | $109.0M-37.1% | $173.3M-62.4% | $461.4M+87.7% | $245.8M+462.1% | $43.7M+34.8% | $32.4M-2.6% | $33.3M-66.4% | $99.1M+41.0% | $70.2M-17.8% | $85.4M+260.9% | $23.7M+49.8% | $15.8M+29.0% | $12.2M+171.4% | $4.5M |
| Accounts Receivable | $59.6M-6.2% | $63.6M+22.0% | $52.1M-21.3% | $66.1M+20.4% | $54.9M+41.4% | $38.8M-32.3% | $57.4M+20.0% | $47.8M+5.2% | $45.4M+5.5% | $43.1M+23.0% | $35.0M-47.9% | $67.2M-30.5% | $96.8M-1.0% | $97.7M-0.8% | $98.5M |
| Total Liabilities | $1.2B+0.4% | $1.2B+6.3% | $1.1B-24.0% | $1.4B-1.1% | $1.4B+25.4% | $1.1B-8.3% | $1.3B+6.8% | $1.2B-20.8% | $1.5B-0.5% | $1.5B-14.2% | $1.7B-20.4% | $2.2B+10.9% | $2.0B+8.8% | $1.8B+36.5% | $1.3B |
| Current Liabilities | $234.3M-4.8% | $246.1M+13.5% | $216.9M-72.6% | $792.3M+144.3% | $324.4M+182.1% | $115.0M-39.5% | $190.0M+2.0% | $186.3M+10.7% | $168.3M-17.1% | $203.0M-10.8% | $227.5M-20.0% | $284.5M-2.9% | $293.1M+6.7% | $274.6M-4.6% | $287.9M |
| Long-Term Debt | $342.4M-6.4% | $365.9M+1.3% | $361.2M+224.9% | $111.2M-83.8% | $687.9M+10.0% | $625.3M-13.1% | $719.5M+13.6% | $633.5M-34.6% | $969.1M-4.3% | $1.0B-15.4% | $1.2B-11.5% | $1.4B+12.2% | $1.2B+10.8% | $1.1B+51.7% | $717.0M |
| Total Equity | -$199.8M-279.9% | -$52.6M-268.6% | $31.2M+308.6% | $7.6M+103.1% | -$247.2M-18.7% | -$208.3M+16.5% | -$249.4M+23.2% | -$324.8M+43.4% | -$573.5M+13.0% | -$659.0M-25.2% | -$526.5M-203.4% | $509.3M-5.8% | $540.6M-0.1% | $541.2M-0.6% | $544.6M |
| Retained Earnings | -$780.3M-25.1% | -$623.8M-17.6% | -$530.7M+2.6% | -$544.8M+29.8% | -$775.9M-5.6% | -$734.5M+4.9% | -$772.2M+8.8% | -$846.3M+22.7% | -$1.1B+6.8% | -$1.2B-26.9% | -$925.8M-878.7% | $118.9M-26.2% | $161.2M-4.7% | $169.2M-7.0% | $181.8M |
Not reported in any period shown, so not listed: Inventory, Goodwill.
WTI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $88.3M | $77.2M+29.7% | $59.5M-48.4% | $115.3M-66.0% | $339.5M+154.0% | $133.7M+23.2% | $108.5M-53.3% | $232.2M-27.8% | $321.8M+101.8% | $159.4M+1024.2% | $14.2M-89.4% | $133.2M-71.9% | $474.8M-15.4% | $561.4M+45.8% | $385.1M-26.1% | $521.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $16.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $305.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$49.6M | $21.9M+118.5% | -$118.2M-44.8% | -$81.6M+14.2% | -$95.1M-246.5% | -$27.4M+42.4% | -$47.6M+84.8% | -$313.8M-372.7% | -$66.4M+38.0% | -$107.1M-30.0% | -$82.4M | N/A | N/A | -$614.8M+6.5% | -$657.4M+9.0% | -$722.7M |
| Financing Cash Flow | -$10.3M | -$69.0M-706.3% | -$8.6M+97.3% | -$321.7M-1013.6% | -$28.9M-128.8% | $100.3M+302.1% | -$49.6M-161.4% | $80.7M+125.1% | -$321.1M-1267.8% | -$23.5M-144.3% | $53.0M | N/A | N/A | $57.0M-79.6% | $280.0M+58.2% | $177.1M |
| Dividends Paid | $6.1M | $6.0M+1.8% | $5.9M+302.6% | $1.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $30.3M-48.6% | $58.8M-29.0% | $82.8M+41.0% | $58.8M |
Not reported in any period shown, so not listed: Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WTI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -10.5%-2.5pp | -8.0%-13.6pp | 5.5%-43.8pp | 49.3%+15.3pp | 34.0%+33.8pp | 0.2%-21.9pp | 22.2%-20.4pp | 42.5%+20.0pp | 22.6%+105.2pp | -82.6% | -225.9% | 6.5%-8.4pp | 14.9%-4.4pp | 19.4%-14.6pp | 33.9% |
| Net Margin | -29.9%-13.3pp | -16.6%-19.5pp | 2.9%-22.2pp | 25.1%+32.5pp | -7.4%-18.3pp | 10.9%-3.0pp | 13.9%-29.0pp | 42.9%+26.5pp | 16.4%+78.6pp | -62.3% | -205.9% | -1.2%-6.5pp | 5.2%-3.0pp | 8.2%-9.6pp | 17.8% |
| Return on Equity | N/A | N/A | 50.0%-2977.9pp | 3027.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -2.3%-11.8pp | 9.5%-3.8pp | 13.3%-18.4pp | 31.7% |
| Return on Assets | -15.7%-7.8pp | -7.9%-9.3pp | 1.4%-14.7pp | 16.1%+19.6pp | -3.5%-7.5pp | 4.0%-3.4pp | 7.4%-21.9pp | 29.3%+20.5pp | 8.8%+38.8pp | -30.0%+56.5pp | -86.5%-86.1pp | -0.4%-2.5pp | 2.1%-1.0pp | 3.1%-6.2pp | 9.3% |
| Current Ratio | 1.02+0.1x | 0.89-0.3x | 1.22+0.5x | 0.72-0.4x | 1.10+0.2x | 0.93+0.2x | 0.75-0.5x | 1.21+0.1x | 1.13+0.2x | 0.94+0.2x | 0.74+0.1x | 0.600.0x | 0.59-0.3x | 0.87+0.3x | 0.56 |
| Debt-to-Equity | N/A | N/A | 11.58-3.0x | 14.56 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.65+0.4x | 2.23+0.2x | 2.01+0.7x | 1.32 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 52.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$199.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where W&T Offshore Ranks
Frequently Asked Questions
What is W&T Offshore's annual revenue?
W&T Offshore (WTI) reported $501.5M in total revenue for fiscal year 2025. This represents a -4.5% 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 W&T Offshore's revenue growing?
W&T Offshore (WTI) revenue declined by 4.5% year-over-year, from $525.3M to $501.5M in fiscal year 2025.
Is W&T Offshore profitable?
No, W&T Offshore (WTI) reported a net income of -$150.1M in fiscal year 2025, with a net profit margin of -29.9%.
What is W&T Offshore's EBITDA?
W&T Offshore (WTI) had EBITDA of $63.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does W&T Offshore have?
As of fiscal year 2025, W&T Offshore (WTI) had $140.6M in cash and equivalents against $342.4M in long-term debt.
What is W&T Offshore's operating margin?
W&T Offshore (WTI) had an operating margin of -10.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is W&T Offshore's net profit margin?
W&T Offshore (WTI) had a net profit margin of -29.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is W&T Offshore's operating cash flow?
W&T Offshore (WTI) generated $77.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are W&T Offshore's total assets?
W&T Offshore (WTI) had $955.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What is W&T Offshore's current ratio?
W&T Offshore (WTI) had a current ratio of 1.02 as of fiscal year 2025, which is considered adequate.
What is W&T Offshore's return on assets (ROA)?
W&T Offshore (WTI) had a return on assets of -15.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is W&T Offshore's debt-to-equity ratio negative or not reported?
W&T Offshore (WTI) has negative shareholder equity of -$199.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is W&T Offshore's Altman Z-Score?
W&T Offshore (WTI) has an Altman Z-Score of -0.50, placing it in the Distress Zone (elevated 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 W&T Offshore's Piotroski F-Score?
W&T Offshore (WTI) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are W&T Offshore's earnings high quality?
W&T Offshore (WTI) reported a net loss of $150.1M while generating $77.2M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
How financially healthy is W&T Offshore?
W&T Offshore (WTI) scores 20 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.