Professional
Added to YB: 2026-08-19
Pitch date: 2026-07-09
TDW [neutral]
Tidewater Inc.
Author Info
No bio for this author
Company Info
Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide.
Market Cap
$4.7B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.71
P/E
19.05
EV/Sales
3.51
Sector
Energy Equipment and Services
Category
turnaround
Black Bear Value Partners Portfolio Holding: Tidewater Inc.
TDW (holding update): World's largest OSV operator, -20% Q2 but +32% YTD. Bull case on supply: shipyard capacity down ~60% post-GFC, scarce financing, aging fleet = declining supply as offshore demand recovers 1-2yrs. ~$350M FCF 2025 (8% yield); normalized $500M-$1B = 15-30% FCF yield.
Read full article (1 min)