TIDEWATER INC
TDW, TDDWW, TDGMW · Water Transportation · 49.7M shares · +8%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $24M (gross $35M, SBC $11M)
Reference price $80.56 · est. market cap ~$4.0B — last insider sale, 2026-03-05 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Largest global offshore-vessel operator posting top-tier returns at a strong point in the OSV cycle.
Strengths
- ROA top-decile (100th pct), ROE 24.5% (78th pct), net margin 24.7% (89th pct) and FCF margin 26% (89th pct)
- Broadest geographic footprint, strong liquidity (current ratio 2.9) and growing fleet via accretive acquisitions
Risks
- Commodity-cyclical demand tied to offshore E&P spending; flat revenue (30th pct)
- High-coupon 9.125% notes and acquisition-funded growth; no durable moat
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
20.9%
Net margin
24.7%
Return on equity
24.5%
Return on assets
14.0%
ROIC
11.1%
Revenue growth (QoQ)
-3.1%
Net-income growth
85.2%
Debt / equity
0.5×
Net debt / EBITDA
0.2×
Current ratio
2.9×
Free cash flow
$353M
EBITDA
$434M
Tangible book value
$1.4B
Cash & investments
$579M
Stock comp / revenue
1.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Zabrocky Lois K | Grant | 1.8K | — |
| 2026-06-16 | Cougle Melissa | Grant | 1.8K | — |
| 2026-06-16 | FAGERSTAL DICK | Grant | 1.8K | — |
| 2026-06-16 | RASPINO LOUIS | Grant | 1.8K | — |
| 2026-06-16 | Traub Kenneth | Grant | 1.8K | — |
| 2026-06-16 | ROBOTTI ROBERT | Grant | 1.8K | $70.99 |
| 2026-06-12 | ROBOTTI ROBERT | Gift | 17K | — |
| 2026-04-01 | Cougle Melissa | Grant | 374 | $83.44 |
| 2026-04-01 | ROBOTTI ROBERT | Grant | 374 | $83.44 |
| 2026-03-23 | Middleton Piers Dayer | Tax withheld | 347 | $72.48 |
| 2026-03-23 | Middleton Piers Dayer | Tax withheld | 1.4K | $72.48 |
| 2026-03-23 | Middleton Piers Dayer | Tax withheld | 979 | $72.48 |
| 2026-03-23 | Hudson Daniel A. | Tax withheld | 2.1K | $72.48 |
| 2026-03-23 | Hudson Daniel A. | Tax withheld | 629 | $72.48 |
| 2026-03-23 | Hudson Daniel A. | Tax withheld | 1.4K | $72.48 |
| 2026-03-23 | Rubio Samuel R | Tax withheld | 1.6K | $72.48 |
| 2026-03-23 | Rubio Samuel R | Tax withheld | 2.5K | $72.48 |
| 2026-03-23 | Rubio Samuel R | Tax withheld | 730 | $72.48 |
| 2026-03-23 | Kneen Quintin | Tax withheld | 5.8K | $72.48 |
| 2026-03-23 | Kneen Quintin | Tax withheld | 2.6K | $72.48 |
| 2026-03-23 | Kneen Quintin | Tax withheld | 5.9K | $72.48 |
| 2026-03-18 | Middleton Piers Dayer | Grant | 6.6K | $75.27 |
| 2026-03-18 | Hudson Daniel A. | Grant | 8.0K | $75.27 |
| 2026-03-18 | Hudson Daniel A. | Tax withheld | 3.3K | $75.27 |
| 2026-03-18 | Hudson Daniel A. | Grant | 6.6K | $75.27 |
| 2026-03-18 | Rubio Samuel R | Grant | 9.4K | $75.27 |
| 2026-03-18 | Rubio Samuel R | Tax withheld | 3.8K | $75.27 |
| 2026-03-18 | Rubio Samuel R | Grant | 6.6K | $75.27 |
| 2026-03-18 | Kneen Quintin | Grant | 66K | $75.27 |
| 2026-03-18 | Kneen Quintin | Tax withheld | 26K | $75.27 |
| 2026-03-18 | Kneen Quintin | Grant | 26K | $75.27 |
| 2026-03-17 | ROBOTTI ROBERT | Gift | 10K | — |
| 2026-03-05 | Hudson Daniel A. | Sell | 5.2K | $80.56 |
| 2026-03-05 | Rubio Samuel R | Sell | 22K | $80.05 |
| 2026-02-23 | Hudson Daniel A. | Sell | 15K | $77.50 |
| 2026-02-11 | Hudson Daniel A. | Sell | 10K | $70.01 |
| 2026-01-02 | Middleton Piers Dayer | Tax withheld | 2.1K | $52.23 |
| 2026-01-02 | Cougle Melissa | Grant | 598 | $52.23 |
| 2026-01-02 | ROBOTTI ROBERT | Grant | 598 | $52.23 |
| 2025-10-01 | ROBOTTI ROBERT | Grant | 570 | $54.80 |
| 2025-10-01 | Cougle Melissa | Grant | 570 | $54.80 |
| 2025-08-05 | Hudson Daniel A. | Sell | 10K | $57.56 |
| 2025-07-08 | Hudson Daniel A. | Sell | 5.0K | $50.02 |
| 2025-07-01 | ROBOTTI ROBERT | Grant | 655 | $47.70 |
| 2025-07-01 | Cougle Melissa | Grant | 655 | $47.70 |
| 2025-06-05 | FAGERSTAL DICK | Grant | 3.0K | — |
| 2025-06-05 | Zabrocky Lois K | Grant | 3.0K | — |
| 2025-06-05 | Traub Kenneth | Grant | 3.0K | — |
| 2025-06-05 | RASPINO LOUIS | Grant | 3.0K | — |
| 2025-06-05 | Cougle Melissa | Grant | 3.0K | — |
| 2025-06-05 | RASPINO LOUIS | Grant | 3.0K | — |
| 2025-06-05 | Anderson Darron M. | Grant | 3.0K | — |
| 2025-06-05 | ROBOTTI ROBERT | Grant | 3.0K | $42.23 |
| 2025-06-04 | ROBOTTI ROBERT | Buy | 15K | $42.05 |
| 2025-06-03 | ROBOTTI ROBERT | Buy | 10K | $42.14 |
| 2025-05-30 | ROBOTTI ROBERT | Buy | 560 | $40.55 |
| 2025-04-01 | ROBOTTI ROBERT | Grant | 727 | $42.96 |
| 2025-03-22 | Rubio Samuel R | Tax withheld | 2.5K | $42.07 |
| 2025-03-22 | Rubio Samuel R | Tax withheld | 730 | $42.07 |
| 2025-03-22 | Kneen Quintin | Tax withheld | 6.1K | $42.07 |
| 2025-03-22 | Kneen Quintin | Tax withheld | 2.7K | $42.07 |
| 2025-03-22 | Hudson Daniel A. | Tax withheld | 2.1K | $42.07 |
| 2025-03-22 | Hudson Daniel A. | Tax withheld | 629 | $42.07 |
| 2025-03-22 | Middleton Piers Dayer | Tax withheld | 1.4K | $42.07 |
| 2025-03-22 | Middleton Piers Dayer | Tax withheld | 347 | $42.07 |
| 2025-03-22 | Darling David E | Tax withheld | 2.5K | $42.07 |
| 2025-03-22 | Darling David E | Tax withheld | 913 | $42.07 |
| 2025-03-18 | Hudson Daniel A. | Tax withheld | 9.0K | $41.33 |
| 2025-03-18 | Middleton Piers Dayer | Grant | 7.9K | $41.33 |
| 2025-03-18 | Darling David E | Grant | 23K | $41.33 |
| 2025-03-18 | Darling David E | Tax withheld | 8.9K | $41.33 |
| 2025-03-18 | Darling David E | Grant | 15K | $41.33 |
| 2025-03-18 | Hudson Daniel A. | Grant | 23K | $41.33 |
| 2025-03-18 | Hudson Daniel A. | Grant | 10K | $41.33 |
| 2025-03-18 | Kneen Quintin | Grant | 186K | $41.33 |
| 2025-03-18 | Kneen Quintin | Tax withheld | 77K | $41.33 |
| 2025-03-18 | Kneen Quintin | Grant | 45K | $41.33 |
| 2025-03-18 | Rubio Samuel R | Grant | 23K | $41.33 |
| 2025-03-18 | Rubio Samuel R | Tax withheld | 8.9K | $41.33 |
| 2025-03-18 | Rubio Samuel R | Grant | 12K | $41.33 |
| 2025-03-13 | ROBOTTI ROBERT | Buy | 25K | $40.11 |
| 2025-03-10 | Kneen Quintin | Tax withheld | 13K | $40.35 |
| 2025-03-10 | Darling David E | Tax withheld | 4.6K | $40.35 |
| 2025-03-10 | Middleton Piers Dayer | Tax withheld | 1.8K | $40.35 |
| 2025-03-10 | Hudson Daniel A. | Tax withheld | 4.7K | $40.35 |
| 2025-03-10 | Rubio Samuel R | Tax withheld | 4.6K | $40.35 |
| 2025-03-05 | ROBOTTI ROBERT | Buy | 1.8K | $40.95 |
| 2025-01-02 | ROBOTTI ROBERT | Grant | 560 | $55.73 |
| 2025-01-02 | Middleton Piers Dayer | Tax withheld | 2.0K | $55.73 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (2)
- Solstad Offshore ASA
- Wilson Sons S.A.
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-18 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-04 | ResultsExhibits | filing ↗ |
| 2026-03-19 | Exec/director changeExhibits | filing ↗ |
| 2026-03-02 | ResultsExhibits | filing ↗ |
| 2026-02-24 | Material agreementReg FDExhibits | filing ↗ |
| 2025-11-10 | ResultsExhibits | filing ↗ |
| 2025-08-04 | ResultsOtherExhibits | filing ↗ |
| 2025-07-07 | Material agreement1.02Debt obligationExec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-16 | 0001104659-26-075757 ↗ |
| 10-Q | 2026-05-04 | 2026-03-31 | 0001437749-26-014662 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001437749-26-014666 ↗ |
| 8-K | 2026-03-19 | 2026-03-17 | 0001104659-26-032151 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001437749-26-006392 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001437749-26-006391 ↗ |
| 8-K | 2026-02-24 | 2026-02-22 | 0001104659-26-018759 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001437749-25-034124 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001437749-25-034117 ↗ |
| 10-Q | 2025-08-04 | 2025-06-30 | 0001437749-25-024640 ↗ |
| 8-K | 2025-08-04 | 2025-08-04 | 0001437749-25-024633 ↗ |
| 8-K | 2025-07-07 | 2025-07-01 | 0001104659-25-066169 ↗ |