Bristow Group Inc. (VTOL) 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

-82.7%

$7.21

vs $41.61 price

Levered DCF

-$29.67

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.94

Grey zone

Rating

Overall 3 / 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	8.19×	10.33×	-117.79×	82.21×	-57.58×	-8.44×	-179.47×	-2.78×
P/B	1.01×	1.1×	0.97×	0.97×	1.08×	0.72×	2.39×	1.16×
P/S	0.71×	0.69×	0.61×	0.64×	0.76×	0.57×	0.86×	0.72×
EV / EBITDA	6.18×	7.34×	9.31×	10.65×	10.94×	7.6×	47.35×	20.73×
Gross margin	21.3%	28.1%	25.5%	23.3%	16.2%	25.3%	21.0%	17.4%
Operating margin	9.7%	9.4%	4.7%	2.2%	0.1%	-9.0%	-7.3%	-16.6%
Net margin	8.7%	6.7%	-0.5%	0.8%	-1.3%	-4.9%	-58.6%	-25.8%
Current ratio	1.9×	1.9×	1.82×	1.73×	2.02×	1.92×	1.76×	19.63×
Debt / equity	0.86×	1.07×	1.02×	0.96×	0.86×	0.88×	2.03×	0.2×
Interest coverage	3.6×	3.53×	1.47×	0.64×	0.03×	-2.01×	0×	-1.91×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.2%	10.6%	-0.8%	1.2%	-1.9%	-6.2%	-163.5%	-41.8%
Return on invested capital	6.0%	6.5%	-1.4%	0.7%	0.1%	-5.7%	-4.6%	-8.7%
Return on assets	5.6%	4.5%	-0.3%	0.5%	-0.9%	-2.8%	-35.8%	-12.7%
Free cash flow yield	5.3%	-8.0%	-6.2%	-8.4%	10.3%	12.7%	2.1%	-16.0%
Earnings yield	12.1%	9.7%	-0.9%	1.2%	-1.7%	-8.7%	-68.5%	-35.9%
Enterprise value	$1.7B	$1.7B	$1.5B	$1.4B	$1.4B	$1.2B	$1.7B	$921.3M
Net debt / EBITDA	2.27×	3.08×	4.21×	4.65×	3.68×	3.53×	18.8×	-0.35×
Cash conversion cycle (days)	68	66	71	62	69	79	67	19