Added to YB: 2025-02-04
Pitch date: 2024-12-18
TDW [bullish]
Tidewater Inc.
+9.25%
current return
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
$2.8B
Pitch Price
$51.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.86
P/E
19.05
EV/Sales
2.24
Sector
Energy Equipment and Services
Category
value
Tidewater Inc. - $TDW
TDW: Largest OSV operator. 10.375% 2028 bonds attractive at 106.5, YTW 7.9%. Shares at 5x EBITDA, 15% FCF yield. Strong market for 3+ years. 2024 EBITDA $535M. CEO sees temporary weakness, recovery in 2H25. 2025 FCF ~$7.50/share. Catalysts: refinancing, FCF, 2025 guidance, day rates.
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