Professional
Added to YB: 2026-02-13
Pitch date: 2026-02-05
TDW [neutral]
Tidewater Inc.
+17.04%
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
$3.5B
Pitch Price
$63.10
Price Target
N/A
Dividend
N/A
EV/EBITDA
8.36
P/E
23.57
EV/Sales
2.73
Sector
Energy Equipment and Services
Category
turnaround
Black Bear Value Partners Portfolio Holding: Tidewater Inc.
TDW: World's largest OSV fleet serving energy industry. Strong long-term outlook as offshore capex rebounds in 1-2 yrs. Fleet aging + 60% shipyard capacity drop since GFC = 40% global OSV decline over next decade, driving pricing power. Currently $300M FCF vs $2.5B mcap (12% yield); normal env could yield $500M-$1B (20-40%). Debt paid off, $500M buyback initiated.
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