Tidewater operates a fleet of offshore support vessels, including platform supply, anchor handling and subsea vessels that service drilling rigs and production platforms for oil majors in the Gulf of Mexico, West Africa and the Middle East. The moat is the fleet itself: new-build vessels cost far more than they did a decade ago and the supply of modern tonnage is tight, so incumbents with a young, well-maintained fleet keep pricing power when utilisation rises. Revenue growth is nearly flat at 0.3%, so the case rests on margin and mix rather than volume, with a 17.3% operating margin and a 48.1% gross margin doing the work. The valuation looks full on forward earnings, with a forward P/E of 36.4 against a trailing 16.1, which implies the market expects earnings to fall or the trailing figure to be flattered by a one-off. A 19.4% return on equity is respectable for a cyclical equipment owner, but the question for a deeper look is whether offshore day rates can keep rising while top-line growth stalls.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 20 Oct 2026, 14:06 CEST | Fair value | $56.72 | $66.49 | $80.81 |
| 20 Oct 2026, 14:06 CEST | Rating | Overvalued | first publication | $80.81 |
| 11 Oct 2026, 00:00 CEST | ACCE price target | $85.00 | first publication | $85.42 |
| 11 Oct 2026, 00:00 CEST | Fair value | $66.49 | $64.62 | $85.42 |
| 6 Oct 2026, 00:00 CEST | Fair value | $64.62 | $65.87 | $82.42 |
| 4 Oct 2026, 00:00 CEST | Fair value | $65.87 | $65.12 | $82.42 |
| 29 Sept 2026, 00:00 CEST | Fair value | $65.12 | $65.95 | $84.74 |
| 27 Sept 2026, 00:00 CEST | Fair value | $65.95 | $68.40 | $84.74 |
| 24 Sept 2026, 00:00 CEST | Fair value | $68.40 | $67.22 | $87.16 |
| 21 Sept 2026, 00:00 CEST | Fair value | $67.22 | $68.15 | $86.69 |
Answered from Tidewater Inc. Common Stock fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| TDW Tidewater Inc. Common Stock | $86.07 | $57 | 52% above | 16.2x | 19.4% | 80 | 59 |
| WBI WaterBridge Infrastructure LLC Class A Shares Representing Limited Liability Company Interests | $29.74 | - | - | 371.8x | -1.3% | 56 | 62 |
| OII Oceaneering International Inc. Common Stock | $39.27 | $31 | 28% above | 11.2x | 34.6% | 73 | 70 |
| WHD Cactus Inc. Class A Common Stock | $63.15 | $41 | 53% above | 53.1x | 13.1% | 72 | 70 |
| KGS Kodiak Gas Services Inc. Common Stock | $44.31 | $41 | 9% above | 57.2x | 4.6% | 71 | 61 |
| 6269.T MODEC, Inc. | ¥7701.00 | - | - | 7.9x | 34.9% | 70 | 68 |
| WOR.AX Worley | A$9.50 | A$8 | 14% above | 20.2x | 4.8% | 39 | 35 |
Where TDW ranks against its sector peers on each metric.