Here are the 10-K annual reports from Tidewater, Inc. (TDW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow TDW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TDW filings page.
Tidewater Inc. provides marine and transportation services to the global offshore energy industry, operating 208 vessels across more than 30 countries as of December 31, 2025. Its fleet is mainly platform supply vessels (139 PSVs) and anchor handling towing supply vessels (52 AHTS), which together generate most vessel revenue.
The company agreed to acquire the Wilson Companies for $500 million, adding 22 PSVs in Brazil, with closing expected in late Q2 2026 subject to antitrust and lender approvals. In July 2025 it issued $650 million of 9.125% Senior Notes due 2030 and used the proceeds to redeem multiple higher-cost debt instruments, recording a $27.1 million loss on early extinguishment.
Tidewater has been active in share repurchases, buying back 4,264,889 shares for about $215.7 million over three years, including 2,290,204 shares for roughly $90 million in 2025, under increasingly larger Board-authorized programs up to $500 million. Key risks highlighted include dependence on oil and gas capital spending, energy transition and climate-related regulation, acquisition integration (including the Wilson deal), leverage and refinancing risk, and extensive international, regulatory and cybersecurity exposure.