Tidewater Inc. (TDW) Stock Price & How to Invest
Short answer
Tidewater (NYSE: TDW) is the largest publicly traded owner and operator of offshore support vessels, so investing in it is a leveraged bet on offshore oil and gas activity and rising vessel day rates rather than on any single commodity price. It trades on U.S. exchanges and is accessible to ordinary brokerage investors, but it is a cyclical, capital-intensive energy-services name that swings with the offshore drilling cycle.
TDW stock price
As of 2026-07-09, Tidewater Inc. (TDW) last closed at $70.66, up 33.2% over the past year. Over the past 52 weeks it has traded between $46.32 and $91.12.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Tidewater Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Tidewater Inc. (TDW) do?
Tidewater owns and charters offshore support vessels (mainly platform supply vessels and anchor handling tug supply vessels) that ferry crews, equipment, and supplies between shore bases and offshore oil, gas, and wind installations. As of March 2026 the company operated a fleet of roughly 206 vessels with an average age of about 13 years across the major global offshore basins, and its earnings are driven almost entirely by vessel utilization and day rates. It generates revenue through charter contracts with energy producers and drillers, so its results track the broader offshore capital spending cycle closely.
The investment picture is that of a tightening-supply cyclical. Management points to a global offshore support vessel fleet that is essentially flat and aging, with a small order book (around 3% of the fleet), which it argues supports rising day rates into 2026 and 2027. Tidewater reaffirmed 2026 revenue guidance of roughly $1.43 billion to $1.48 billion with gross margins targeted near 49% to 51%, and it agreed to buy Wilson Sons Ultratug Offshore (22 Brazilian platform supply vessels) for about $500 million to expand in a growth basin. The offsets are real: offshore drilling activity can slow, margins face elevated crew and insurance costs, and the shares are volatile with the energy cycle.
What's driving Tidewater Inc. (TDW)?
1. Tightening vessel supply
The global offshore support vessel fleet is essentially flat and aging, with a large share of vessels approaching retirement age over the next decade and an order book of only about 3% of the fleet. Management argues this supply-demand imbalance can push day rates higher by roughly $3,000 to $4,000 per day annually. If that thesis holds, revenue and margins can expand without adding vessels.
2. Contracted backlog and reaffirmed guidance
Tidewater entered 2026 with about $1.1 billion of revenue already contracted for the year and reaffirmed full-year revenue guidance near $1.43 billion to $1.48 billion. Global average day rates rose about 1% sequentially in fiscal Q1 2026, led by Europe/Mediterranean and Asia-Pacific. This visibility gives some cushion against short-term demand wobbles.
3. Brazil expansion via Wilson Sons Ultratug
The company agreed to acquire Wilson Sons Ultratug Offshore for about $500 million, adding 22 platform supply vessels focused on Brazil, one of the fastest-growing deepwater basins. The deal was targeted to close by the end of fiscal Q2 2026 and expands Tidewater's exposure to a market with active drilling programs. Integration and financing execution are the key watch items.
4. Capital returns and balance sheet
Tidewater has reset its debt structure and reaffirmed share repurchase capacity of about $500 million, signaling confidence in free cash flow. A moderate debt-to-equity ratio (roughly 0.5) leaves room to fund the Wilson acquisition while continuing buybacks. Capital returns can support the equity if day rates cooperate.
What are the risks to Tidewater Inc. (TDW)?
Tidewater's revenue is tightly linked to offshore oil and gas capital spending, which is highly cyclical and sensitive to commodity prices, so a downturn in drilling activity would pressure utilization and day rates directly. Fiscal Q1 2026 net income fell sharply year over year (to about $6 million from roughly $43 million) even as revenue held near $326 million, showing how quickly profitability can compress. Elevated crew and insurance costs, partly tied to Middle East conflict, can squeeze margins through at least mid-2026. The Wilson Sons acquisition carries integration and financing risk, and the shares are volatile. As a capital-intensive vessel owner, the company also faces vessel-aging, drydock, and regulatory costs that can weigh on cash flow.
How is Tidewater Inc. (TDW) valued? (approximate, Q1 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Tidewater Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$1.35B
- 2026 revenue guidance: ~$1.43B-$1.48B
- Fiscal Q1 2026 revenue: ~$326M
- Fiscal Q1 2026 net income: ~$6M
- P/E (TTM): ~12x
- EV/EBITDA: ~8.5x
Tidewater reported fiscal Q1 2026 revenue of about $326 million with net income of roughly $6 million, down sharply from about $43 million a year earlier as costs and margins pressured the bottom line even though the top line held up. The stock trades around a low-double-digit trailing P/E and an EV/EBITDA near 8.5x, valuations that reflect its cyclical, capital-heavy profile. Management reaffirmed 2026 revenue guidance of roughly $1.43 billion to $1.48 billion and gross margins near 49% to 51%.
Who competes with Tidewater Inc. (TDW)?
International OSV operators
DOF Group, Bourbon Offshore, and Solstad Offshore are established global operators of offshore support vessels that compete with Tidewater across major basins. The segment is consolidating (DOF absorbed Maersk Supply Service in 2024), which can tighten supply but also concentrates competition among a few large fleets.
Regional and specialty vessel owners
Edison Chouest, SEACOR Marine, Siem Offshore, and Havila Shipping operate sizable regional or niche fleets, often strong in specific geographies like the U.S. Gulf or the North Sea. Competition is based on vessel capability, technical expertise, and local relationships rather than a single global standard.
Broader offshore energy services
Tidewater also competes for offshore spending against the wider oilfield-services complex (drillers and subsea and logistics providers) whose activity levels ultimately drive demand for support vessels. When operators cut offshore budgets, vessel demand across all these providers falls together.
How to invest in Tidewater Inc. (TDW)
There are three common ways to get TDW exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so TDW sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where TDW fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Tidewater Inc. (TDW)
TDW is a pure-play offshore support vessel operator whose fortunes rise and fall with offshore drilling demand and day rates, making it a high-cyclicality way to express a bullish offshore energy view.
More on Tidewater Inc. (TDW)
Whether TDW is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is TDW a buy?, and where the stock could go from here in the TDW stock forecast.
For income investors, whether TDW pays a dividend and how the payout looks is covered in does TDW pay a dividend?
Build a basket around TDW with Walnut
Use Tidewater Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Tidewater (TDW) do?
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Tidewater owns and operates offshore support vessels, primarily platform supply vessels and anchor handling tug supply vessels, that transport crews, equipment, and supplies to offshore oil, gas, and wind installations. It charters these vessels to energy producers and drillers around the world.
Is TDW a U.S.-listed stock I can buy in a normal brokerage?
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Yes. Tidewater is listed on the New York Stock Exchange under the ticker TDW and is available through standard U.S. brokerage accounts. It is a real operating company, not an OTC shell or foreign-only listing.
What drives Tidewater's earnings?
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Earnings are driven almost entirely by vessel utilization and day rates, which in turn depend on offshore drilling and development activity. Higher offshore spending and a tight vessel supply lift day rates and margins, while downturns compress them quickly.
How big is Tidewater's fleet?
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As of March 2026, Tidewater operated roughly 206 offshore support vessels with an average age of about 13 years, spread across the major global offshore basins. Its pending Wilson Sons Ultratug deal would add 22 more platform supply vessels in Brazil.
How did Tidewater perform in its latest quarter?
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In fiscal Q1 2026, Tidewater reported revenue of about $326 million but net income of only about $6 million, down from roughly $43 million a year earlier. Revenue held up while profitability was squeezed by higher costs and margin pressure.
What is the bull case for TDW?
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The bull case rests on a flat, aging global vessel fleet and a small order book creating tight supply, which management believes can lift day rates by several thousand dollars per day annually into 2026 and 2027. Reaffirmed guidance, buybacks, and Brazil expansion support that view.
What are the main risks to TDW?
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The main risks are the cyclicality of offshore oil and gas spending, sharp swings in profitability, elevated crew and insurance costs, integration and financing risk from the Wilson Sons acquisition, and general commodity-price and vessel-aging exposure. The shares are volatile.
How is TDW valued relative to peers?
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Tidewater trades around a low-double-digit trailing P/E and an EV/EBITDA near 8.5x, valuations typical of a cyclical, capital-intensive vessel operator. Comparable public peers include DOF Group, Bourbon Offshore, Solstad Offshore, and SEACOR Marine, though many rivals are regional or privately held.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Tidewater Inc.'s investor relations page or your broker before making investment decisions.