Tidewater Inc (TDW) financials
Tidewater revenue and earnings by year
Tidewater's revenue was $1.35 billion in the fiscal year to December 31, 2025, up 0.5% from the year before. Net income was $335 million, 24.7% of revenue. Since the fiscal year to December 31, 2018, revenue has grown 18.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 8 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.35 | 1.35 | 1.01 | 0.65 | 0.37 | 0.40 | 0.49 | 0.41 |
| Revenue growth | 0.5% | 33.3% | 55.9% | 74.6% | -6.5% | -18.4% | 19.7% | — |
| Gross profit | 0.67 | 0.65 | 0.45 | 0.25 | 0.11 | 0.12 | 0.15 | 0.13 |
| Gross margin | 49.2% | 48.2% | 44.5% | 38.3% | 28.8% | 31.4% | 31.8% | 32.3% |
| Operating income | 0.28 | 0.31 | 0.18 | 0.03 | -0.10 | -0.19 | -0.09 | -0.11 |
| Operating margin | 20.9% | 23.1% | 18.0% | 4.1% | -25.6% | -47.0% | -17.8% | -26.4% |
| Net income | 0.33 | 0.18 | 0.10 | -0.02 | -0.13 | -0.20 | -0.14 | -0.17 |
| Net margin | 24.7% | 13.4% | 9.6% | -3.4% | -34.8% | -49.4% | -29.1% | -42.2% |
| Diluted EPS | $6.64 | $3.40 | $1.84 | -$0.49 | -$3.14 | -$4.86 | -$3.67 | -$6.10 |
| Free cash flow | 0.35 | 0.25 | 0.07 | 0.02 | 0.01 | -0.02 | -0.04 | -0.02 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open TDW in Markets.
How Tidewater makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Vessel | $340M | 99.3% |
| Product & Service Other | $2.56M | 0.7% |
See also: TDW valuation and P/E history · TDW returns
No forecast, no recommendation. This page describes Tidewater Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.