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Tidewater Inc (TDW) stock analysis

TDWNYSEWater TransportationFiscal year ends December 31Also trades as TDDWW, TDGMW
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 9/307% above fair value
$77.86−1.05 (-1.33%)

Close on Nov 12, 2026Market cap $3.87BP/E 14.7Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value2Growth1Performance4Health2Dividend0

Mixed9 of 30 checks passed

Tidewater passes 9 of the 30 checks behind our score; 10 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
1/6
Past performance
4/6
Financial health
2/6
Dividend
0/6

What stands out

  • Return on capital over 10%

    Return on invested capital was 14.5%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 27.8% a year over the last three fiscal years.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 36.5% of total debt.

  • P/E below its 5-year median

    Tidewater's P/E of 14.9 is below its own 5-year median of 17.4.

What to watch

  • Margin of safety under 20%

    The price is 7.0% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $78.91 is above our fair value estimate of $73.77.

  • Return on equity under 15%

    Return on equity was 20.8% over the last twelve months and averaged 6.9% over five years; we look for 15% on both.

  • High debt

    Debt is 61.3% of shareholders' equity, above the 40% we consider low.

Valuation2/6

  • P/E below its 5-year median

    Tidewater's P/E of 14.9 is below its own 5-year median of 17.4.

  • P/E above the industry

    Tidewater's P/E of 14.9 is above the Water Transportation median of 12.7.

  • EV/EBITDA below its 5-year median

    Tidewater's EV/EBITDA of 9.7 is below its 5-year median of 10.6.

  • P/B above the industry

    Tidewater's price-to-book of 2.79 is above the Water Transportation median of 2.12.

  • Trading above fair value

    The share price of $78.91 is above our fair value estimate of $73.77.

  • Margin of safety under 20%

    The price is 7.0% above fair value, so there is no margin of safety.

Growth1/6

  • Revenue growing 10%+ a year

    Revenue grew 27.8% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 0.3% over the last twelve months; the Water Transportation median is 4.9%.

  • Guidance lowered

    Tidewater lowered its 2026 revenue guidance outlook on Aug 3, 2026.

  • Gross margin trend

    This company does not report gross profit.

Past performance4/6

  • Return on equity under 15%

    Return on equity was 20.8% over the last twelve months and averaged 6.9% over five years; we look for 15% on both.

  • Return on capital over 10%

    Return on invested capital was 14.5%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Tidewater's return on equity of 20.8% is above the Water Transportation median of 13.0%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 19.4% over the last twelve months, against a 5-year average of 1.9%.

  • Net margin above the industry

    Tidewater's net margin of 19.4% is above the Water Transportation median of 11.4%.

Financial health2/6

  • High debt

    Debt is 61.3% of shareholders' equity, above the 40% we consider low.

  • Debt rising against equity

    Debt to equity rose from 23.4% five years ago to 61.3%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 36.5% of total debt.

  • Interest coverage

    Interest expense is not reported separately.

  • Short-term assets cover short-term debts

    Current assets are 2.23 times current liabilities.

  • Bankruptcy risk in the grey zone

    The Altman Z-score is 2.71; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Tidewater has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$73.77

The share price is 7% above this estimate.

20%+ below
Near fair value
20%+ above
$78.91Price
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E15.1×17.4×12.7×$79.8540%
EV/EBITDA9.8×10.6×9.0×$79.7935%
P/B2.3×2.6×2.1×$66.3610%
Earnings power9.4% cost of equity––$48.4615%
Fair value$73.77100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 17.4
  • Water Transportation median 12.7

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$52.69M
Value traded per 1% price move
$23.39M

Downside

Medium risk

Typical loss in a bad month
18.4%
Volatility (annualized)
51%
Sharpe ratio, 1 year
0.78
Beta to the S&P 500 (5Y)
0.91

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2010 to 2025

Gross margin

–

Operating margin

20.9%+67.9 pts over 5 years

Net margin

24.7%+74.2 pts over 5 years

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