Professional
Added to YB: 2025-07-14
Pitch date: 2025-06-28
TDW [bullish]
Tidewater Inc.
+28.52%
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
$2.9B
Pitch Price
$46.84
Price Target
145.00 (+141%)
Dividend
N/A
Sector
Energy Equipment and Services
Category
value
Sharmos Capital Partners: Tidewater Inc.
TDW: World's largest OSV fleet (190 vessels) at severe discount to NAV. Trading at $45/share vs $145 NAV. FCF projections: $400M (2025) growing to $750M-$1B by 2029-30. Debt covenants limiting buybacks now removed; expect 30-40% share reduction. Acquired Swire/Solstad vessels at $0.10-0.30/dollar of replacement value. Projects economic at $35-40 oil.