TDW on NYSE

Tidewater

Logo: tdw.com4

American marine services corporation

Tidewater, Inc. is a publicly traded international petroleum service company headquartered in Houston, Texas, U.S. It operates a fleet of ships, primarily providing vessels and marine services to the offshore petroleum and offshore wind industries.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1956Founded1

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  • TickerTDW on NYSE1
  • Industrywater transport1
  • HeadquartersHouston1
  • Websitewww.tdw.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address842 West Sam Houston Parkway North, Suite 400, Houston, Tx 770245
  • Filer categoryLarge accelerated filer5

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Garza Tide107
Photo: Ciacho5, CC BY-SA 4.0, via Wikimedia Commons6

Tidewater, Inc. is a publicly traded international petroleum service company headquartered in Houston, Texas, U.S. It operates a fleet of ships, primarily providing vessels and marine services to the offshore petroleum and offshore wind industries.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.9%Operating margin7
24.7%Net margin7
0.5%Revenue growth, 20257
24.5%Return on equity7
0.48×Debt to equity7
$353.3MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Vessel brought in 99% of the revenue Tidewater broke down this way in fiscal 2025.

  1. Vessel$1.3B799%up 0% from 2024
  2. Product and Service, Other$13.9M71%up 69% from 2024
Products and services by year
Products and services202320242025
Vessel$999.0M$1.3B$1.3B
Product and Service, Other$11.0M$8.2M$13.9M

Regions

Other Countries brought in 45% of the revenue Tidewater broke down this way in fiscal 2025.

  1. Other Countries$613.6M745%up 2% from 2024
  2. AO$155.8M712%up 8% from 2024
  3. United Kingdoms$149.0M711%up 1% from 2024
  4. SA$133.8M710%up 3% from 2024
  5. NO$117.4M79%up 5% from 2024
  6. AUMember$108.5M78%down 17% from 2024
  7. United States$74.6M76%down 9% from 2024
Regions by year
Regions20242025
Other Countries$600.3M$613.6M
AO$144.6M$155.8M
United Kingdoms$147.2M$149.0M
SA$129.3M$133.8M
NO$112.2M$117.4M
AUMember$130.8M$108.5M
United States$81.5M$74.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs67¢$904.9M
  • Income tax8¢$113.2M
  • Profit25¢$334.7M

Out of $1.4B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending7¢$25.8M
  • Share buybacks24¢$90.1M
  • Kept or used elsewhere69¢$263.3M

Out of $379.1M of cash from operations.7

Financial statements

Revenue8910117$1.4B in 2025+178% since 2019
0$500.0M$1.0B$1.5B2019: $486.5M$486.5M20192020: $397.0M$397.0M2020−18%2021: $371.0M$371.0M2021−7%2022: $647.7M$647.7M2022+75%2023: $1.0B$1.0B2023+56%2024: $1.3B$1.3B2024+33%2025: $1.4B$1.4B2025+1%
Gross profit12-$29.7M in 2020
-$30.0M-$20.0M-$10.0M0$10.0M2019: $6.9M$6.9M20192020: -$29.7M-$29.7M2020
Operating income8910117$282.6M in 2025
-$200.0M0$200.0M$400.0M2019: -$86.6M-$86.6M20192020: -$186.8M-$186.8M2020+116%2021: -$95.0M-$95.0M2021−49%2022: $26.7M$26.7M20222023: $182.2M$182.2M2023+582%2024: $311.3M$311.3M2024+71%2025: $282.6M$282.6M2025−9%
Net income8910117$334.7M in 2025
-$200.0M0$200.0M$400.0M2019: -$141.7M-$141.7M20192020: -$196.2M-$196.2M2020+38%2021: -$129.0M-$129.0M2021−34%2022: -$21.7M-$21.7M2022−83%2023: $97.2M$97.2M20232024: $180.7M$180.7M2024+86%2025: $334.7M$334.7M2025+85%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Revenue$1.4B$1.3B$1.0B
Vessel operating costs$680.6M$693.1M$556.5M
Costs of other operating revenues$6.4M$3.6M$4.3M
General and Administrative Expense$134.5M$110.8M$95.3M
Depreciation and amortization$262.3M$242.8M$180.3M
Gain on asset dispositions, net-$13.7M-$15.8M-$8.7M
Total costs and expenses$1.1B$1.0B$827.8M
Operating income$282.6M$311.3M$182.2M
Foreign exchange gain (loss)$22.7M-$15.3M-$1.4M
Equity in net earnings of unconsolidated companies$0$0$39.0K
Interest income and other, net$8.2M$6.4M$6.5M
Loss on early extinguishment of debt-$27.1M$0$0
Interest and other debt costs, net-$66.1M-$73.0M-$48.5M
Total other expense-$62.4M-$81.9M-$43.3M
Income before income taxes$220.2M$229.5M$138.9M
Income tax expense (benefit)-$113.2M$50.2M$43.3M
Net income$333.5M$179.3M$95.6M
Less: Net losses attributable to noncontrolling interests-$1.2M-$1.4M-$1.6M
Net income attributable to Tidewater Inc.$334.7M$180.7M$97.2M
Basic income per common share (in dollars per share)$6.69$3.44$1.88
Diluted income per common share (in dollars per share)$6.64$3.40$1.84
Weighted average common shares outstanding (in shares)50.1M shares52.5M shares51.6M shares
Dilutive effect of warrants, restricted stock units and stock options (in shares)379.0K shares619.0K shares1.3M shares
Adjusted weighted average common shares (in shares)50.4M shares53.1M shares52.9M shares

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Leadership

Who has led Tidewater, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Dean E. Taylor2003–2012
  2. Jeffrey Platt2012–2017
  3. Larry T. Rigdon2017–2018
  4. John T. Rynd2018–2019
  5. Quintin Kneen2019–now

Chair

  1. Dean E. Taylor2003–2007

President

  1. Dean E. Taylor2003–2012
  2. Jeffrey Platt2012–2017
  3. Larry T. Rigdon2017–2018
  4. John T. Rynd2018–2019
  5. Quintin Kneen2019–now

Chief financial officer

  1. J. Keith Lousteau2004–2008
  2. Quinn P. Fanning2012–2018
  3. Quintin Kneen2018–2020
  4. Samuel R. Rubio2021–now

Chief operating officer

  1. Jeffrey Platt2010–2012
  2. Jeffrey A. Gorski2012–2019
  3. Piers Dayer Middleton2026–now
197019801990200020102020
Board members and other officers (45)

Employees over time

  • 20204,5131

Timeline

  1. Nov 18, 2019New chief executive Quintin Kneen becomes CEO15
  2. Mar 6, 2018New chief executive John T. Rynd becomes CEO16
  3. Oct 17, 2017New chief executive Larry T. Rigdon becomes CEO17
  4. Aug 1, 2017Went public Listed on NYSE1
  5. Jun 1, 2012New chief executive Jeffrey Platt becomes CEO18
  6. Dec 3, 2003New chief executive Dean E. Taylor becomes CEO19
  7. 1956Founded Founded1

Recent filings

  1. Oct 5, 20268-K
  2. Sep 25, 20268-K
  3. Sep 18, 20264/A PRIMARY DOCUMENT
  4. Sep 17, 20264 PRIMARY DOCUMENT
  5. Sep 16, 2026144
  6. Sep 3, 20264
  7. Sep 3, 20264
  8. Sep 2, 2026144
  9. Sep 1, 2026144
  10. Aug 31, 20268-K
  11. Aug 20, 20264
  12. Aug 14, 20264
  13. Aug 12, 2026144
  14. Aug 11, 2026144
  15. Aug 11, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

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