Tidewater Inc. (TDW) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+291.2%

$321.76

vs $82.24 price

Levered DCF

$365.80

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.54

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	7.55×	15.9×	38.36×	-75.2×	-3.41×	-1.78×	-5.2×	-2.97×
P/B	1.85×	2.58×	3.58×	1.88×	0.63×	0.42×	0.73×	0.44×
P/S	1.87×	2.13×	3.68×	2.51×	1.18×	0.88×	1.51×	1.25×
EV / EBITDA	6.01×	6.94×	13.22×	16.58×	-13.1×	-3.9×	-109.35×	-8.03×
Gross margin	30.8%	30.2%	26.6%	19.9%	-2.0%	2.1%	10.8%	18.0%
Operating margin	21.4%	23.1%	18.0%	4.1%	-25.6%	-47.0%	-17.8%	-26.4%
Net margin	24.7%	13.4%	9.6%	-3.4%	-34.8%	-49.4%	-29.1%	-42.2%
Current ratio	2.9×	2.11×	1.8×	1.94×	2.17×	2.12×	2.89×	4.32×
Debt / equity	0.5×	0.57×	0.71×	0.2×	0.24×	0.23×	0.28×	0.38×
Interest coverage	4.39×	4.27×	3.76×	1.55×	-6.1×	-7.73×	-2.98×	-3.53×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-0.2%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	24.5%	16.2%	9.4%	-2.5%	-18.4%	-23.9%	-14.0%	-15.0%
Return on invested capital	13.8%	13.4%	6.8%	2.4%	-10.1%	-17.0%	-6.2%	-6.4%
Return on assets	14.0%	8.7%	4.7%	-1.7%	-11.8%	-15.7%	-9.0%	-9.4%
Free cash flow yield	14.0%	8.6%	2.0%	1.5%	1.4%	-3.1%	-6.7%	-3.4%
Earnings yield	13.2%	6.3%	2.6%	-1.3%	-29.4%	-56.3%	-19.2%	-33.7%
Enterprise value	$2.6B	$3.2B	$4.2B	$1.6B	$458.1M	$391.5M	$807.2M	$575.9M
Net debt / EBITDA	0.23×	0.68×	1.45×	0.05×	-0.54×	-0.43×	-9.57×	-0.94×
Cash conversion cycle (days)	66	73	91	82	146	160	172	217