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Tidewater Inc (TDW) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS EQUIPMENT & SERVICES · DATA UPDATED 2026-08-22

Tidewater Inc (TDW) operates in the OIL & GAS EQUIPMENT & SERVICES industry and is headquartered in Houston, United States with about 7,300 employees. Its market capitalization is roughly $4 billion. In the fiscal year ended 2025-12-31, TDW reported $1.4B in revenue and $335M in net income.

Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide.

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TDW Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$1.3B	$1.4B	$1.3B	$1.0B	$648M	$371M	$397M	$487M	$407M	$330M	$602M	$979M	$1.5B	$1.4B	$1.2B	$1.1B	$1.1B	$1.2B	$1.4B	$1.3B	$1.1B
Gross Profit	$385M	$416M	$406M	$269M	$129M	($8M)	$8M	$53M	$73M	$12M	$62M	$217M	$459M	$456M	$392M	$301M	$272M	$536M	$701M	$638M	$603M
Gross Margin %	28.6%	30.8%	30.2%	26.6%	19.9%	-2.0%	2.1%	10.8%	18.0%	3.6%	10.4%	22.1%	30.7%	31.8%	31.5%	28.2%	25.7%	45.9%	50.4%	50.2%	53.6%
Operating Income (EBIT)	$251M	$290M	$311M	$182M	$27M	($95M)	($187M)	($87M)	($107M)	($77M)	($578M)	($70M)	($37M)	$202M	$206M	$114M	$139M	$295M	$439M	$449M	$470M
Operating Margin %	18.6%	21.4%	23.1%	18.0%	4.1%	-25.6%	-47.0%	-17.8%	-26.4%	-23.2%	-96.0%	-7.1%	-2.5%	14.0%	16.6%	10.6%	13.2%	25.3%	31.6%	35.4%	41.8%
Net Income	$247M	$335M	$181M	$97M	($22M)	($129M)	($196M)	($142M)	($172M)	($2.2B)	($660M)	($160M)	($65M)	$140M	$151M	$87M	$106M	$259M	$407M	$349M	$357M
Net Margin %	18.4%	24.7%	13.4%	9.6%	-3.4%	-34.8%	-49.4%	-29.1%	-42.2%	-681.0%	-109.7%	-16.4%	-4.4%	9.8%	12.1%	8.2%	10.0%	22.2%	29.3%	27.5%	31.7%
EBITDA	$464M	$549M	$459M	$316M	$98M	($35M)	($100M)	($7M)	($72M)	$68M	($401M)	$97M	$159M	$384M	$372M	$272M	$299M	$425M	$644M	$570M	$587M
Earnings Per Share (EPS)	$4.98	$6.69	$3.40	$1.84	$-0.49	$-3.14	$-4.86	$-3.71	$-6.45	$-101.66	$-35.77	$-8.68	$-3.53	$7.60	$8.17	$4.74	$5.72	$162.15	$254.31	$205.17	$198.12
Shares Outstanding (M)	50M	50M	53M	53M	44M	41M	40M	38M	27M	22M	18M	18M	18M	18M	18M	18M	—	2M	2M	2M	2M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TDW Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$342M	$326M	$337M	$341M	$341M	$333M	$345M	$340M
Gross Profit	$97M	$93M	$98M	$97M	$107M	$102M	$109M	$98M
Gross Margin %	28.4%	28.4%	29.1%	28.5%	31.2%	30.5%	31.7%	28.9%
Operating Income (EBIT)	$63M	$59M	$67M	$62M	$81M	$75M	$81M	$70M
Operating Margin %	18.3%	18.1%	20.0%	18.2%	23.7%	22.5%	23.6%	20.5%
Net Income	$22M	$6M	$220M	($1M)	$73M	$43M	$37M	$46M
Net Margin %	6.3%	1.9%	65.3%	-0.2%	21.4%	12.8%	10.7%	13.6%
EBITDA	$129M	$124M	$107M	$104M	$132M	$124M	$108M	$116M
Earnings Per Share (EPS)	$0.44	$0.12	$4.44	$-0.02	$1.46	$0.83	$0.70	$0.87
Shares Outstanding (M)	50M	50M	50M	49M	50M	52M	53M	53M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TDW Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$313M	$379M	$274M	$105M	$40M	$15M	$4M	($31M)	$4M	($57M)	$30M	$253M	$359M	$105M	$214M	$222M	$264M	$328M	$526M	$490M	$435M
Capital Expenditures (CapEx)	$55M	$26M	$28M	$32M	$17M	$9M	$15M	$18M	$21M	$12M	$25M	$194M	$364M	$595M	$441M	$357M	$615M	$452M	$474M	$354M	$235M
Free Cash Flow (FCF)	$258M	$353M	$246M	$73M	$24M	$6M	($11M)	($49M)	($17M)	($69M)	$4M	$59M	($5M)	($490M)	($227M)	($135M)	($351M)	($124M)	$53M	$135M	$200M
FCF Margin %	19.2%	26.1%	18.3%	7.2%	3.6%	1.6%	-2.8%	-10.2%	-4.3%	-21.0%	0.7%	6.0%	-0.4%	-34.2%	-18.2%	-12.6%	-33.3%	-10.6%	3.8%	10.7%	17.8%
Dividends Paid	—	—	—	$1.1B	—	—	—	—	—	—	$0M	$35M	$49M	$50M	$50M	$51M	$51M	$52M	$52M	$33M	$34M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TDW Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$86M	$19M	$153M	$55M	$85M	$86M	$91M	$49M
Capital Expenditures (CapEx)	$30M	$15M	$5M	$5M	$5M	$10M	$5M	$6M
Free Cash Flow (FCF)	$56M	$4M	$148M	$50M	$80M	$76M	$87M	$43M
FCF Margin %	16.5%	1.3%	43.9%	14.5%	23.5%	22.7%	25.1%	12.8%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TDW Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$2.4B	$2.4B	$2.1B	$2.1B	$1.3B	$1.1B	$1.3B	$1.6B	$1.8B	$1.8B	$4.2B	$5.0B	$4.8B	$4.9B	$4.2B	$4.1B	$3.7B	$3.3B	$3.1B	$2.8B	$2.6B
Cash & Cash Equivalents	$614M	$579M	$325M	$274M	$164M	$149M	$150M	$218M	$372M	$432M	$706M	$678M	$79M	$60M	$41M	$321M	$246M	$223M	$251M	$270M	$394M
Total Liabilities	$978M	$1.0B	$964M	$1.0B	$432M	$394M	$428M	$563M	$683M	$738M	$2.5B	$2.7B	$2.3B	$2.2B	$1.6B	$1.5B	$1.2B	$829M	$829M	$822M	$763M
Total Debt (Short + Long-Term)	$653M	$679M	$637M	$734M	$171M	$169M	$193M	$289M	$439M	$448M	$2.0B	$2.0B	$1.5B	$1.5B	$1.2B	$950M	$700M	$300M	$300M	$310M	$322M
Total Shareholders' Equity	$1.4B	$1.4B	$1.1B	$1.0B	$866M	$702M	$822M	$1.0B	$1.1B	$1.0B	$1.6B	$2.3B	$2.5B	$2.7B	$2.6B	$2.5B	$2.5B	$2.5B	$2.2B	$1.9B	$1.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive TDW viewer.

Other Companies in OIL & GAS EQUIPMENT & SERVICES

WFRD · Weatherford International plc — $6 billion
AROC · Archrock Inc — $6 billion
WHD · Cactus Inc — $5 billion
OII · Oceaneering International Inc — $5 billion
WBI · WaterBridge Infrastructure LLC — $4 billion
NESR · National Energy Services Reunited Corp Ordinary Shares — $3 billion
LBRT · Liberty Energy Inc. — $3 billion
WTTR · Select Energy Services Inc — $3 billion

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