W&T Offshore, Inc. (WTI) 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

+158.2%

$9.52

vs $3.69 price

Levered DCF

$4.26

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.09

Distress zone

Rating

C+

Overall 2 / 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	-1.61×	-2.81×	29.64×	3.47×	-11.14×	8.35×	10.69×	2.3×
P/B	-1.21×	-4.65×	15.31×	104.63×	-1.86×	-1.48×	-3.13×	-1.76×
P/S	0.48×	0.46×	0.9×	0.87×	0.82×	0.89×	1.46×	0.99×
EV / EBITDA	5.18×	4.46×	3.18×	2.14×	7.14×	4.76×	7.13×	2.96×
Gross margin	71.7%	67.4%	73.5%	84.6%	78.8%	65.8%	70.6%	70.0%
Operating margin	-10.5%	-8.0%	5.5%	49.3%	34.0%	0.2%	22.2%	42.5%
Net margin	-29.9%	-16.6%	2.9%	25.1%	-7.4%	10.9%	13.9%	42.8%
Current ratio	1.02×	0.89×	1.22×	0.72×	1.1×	0.93×	0.75×	1.21×
Debt / equity	-1.76×	-7.51×	12.92×	92.43×	-3.01×	-3.06×	-2.91×	-1.95×
Interest coverage	-1.45×	-1.04×	0.66×	6.54×	2.71×	0.01×	1.99×	5.08×
Dividend yield	2.5%	2.4%	0.3%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	-4.0%	-6.8%	9.4%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	75.1%	165.7%	50.0%	3027.9%	16.8%	-18.1%	-29.7%	-76.6%
Return on invested capital	-7.2%	-4.3%	1.5%	30.1%	17.4%	0.1%	-970.7%	37.2%
Return on assets	-15.7%	-7.9%	1.4%	16.1%	-3.5%	4.0%	7.4%	29.3%
Free cash flow yield	11.5%	-24.0%	7.2%	30.8%	22.0%	28.4%	-12.0%	34.7%
Earnings yield	-62.1%	-35.7%	3.3%	28.9%	-9.0%	12.3%	9.5%	43.4%
Enterprise value	$451.8M	$530M	$707.1M	$1B	$957M	$900.6M	$1.5B	$1.2B
Net debt / EBITDA	2.41×	2.41×	1.03×	0.5×	3.71×	3.13×	3.35×	1.51×
Cash conversion cycle (days)	-191	-116	-156	-135	-165	-75	-184	-99