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Side-by-side financial comparison of Blue Bird Corp (BLBD) and TIDEWATER INC (TDW). Click either name above to swap in a different company.
TIDEWATER INC is the larger business by last-quarter revenue ($336.8M vs $333.1M, roughly 1.0× Blue Bird Corp). TIDEWATER INC runs the higher net margin — 65.3% vs 9.2%, a 56.1% gap on every dollar of revenue. On growth, Blue Bird Corp posted the faster year-over-year revenue change (6.1% vs -2.4%). TIDEWATER INC produced more free cash flow last quarter ($147.8M vs $31.1M). Over the past eight quarters, TIDEWATER INC's revenue compounded faster (2.4% CAGR vs -1.9%).
The Blue Bird Corporation is an American bus manufacturer. Headquartered in Fort Valley, Georgia, the company was best known for its production of school buses. The company has also manufactured a wide variety of other bus types, including transit buses, motorhomes, and specialty vehicles such as mobile libraries and mobile police command centers.
Tidewater, Inc. is a publicly traded international petroleum service company headquartered in Houston, Texas, U.S. It operates a fleet of ships, primarily providing vessels and marine services to the offshore petroleum and offshore wind industries.
BLBD vs TDW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $333.1M | $336.8M |
| Net Profit | $30.8M | $219.9M |
| Gross Margin | 21.4% | — |
| Operating Margin | 11.3% | 19.0% |
| Net Margin | 9.2% | 65.3% |
| Revenue YoY | 6.1% | -2.4% |
| Net Profit YoY | 7.1% | 495.8% |
| EPS (diluted) | $0.94 | $4.37 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $333.1M | $336.8M | ||
| Q3 25 | $409.4M | $341.1M | ||
| Q2 25 | $398.0M | $341.4M | ||
| Q1 25 | $358.9M | $333.4M | ||
| Q4 24 | $313.9M | $345.1M | ||
| Q3 24 | $350.2M | $340.4M | ||
| Q2 24 | $333.4M | $339.2M | ||
| Q1 24 | $345.9M | $321.2M |
| Q4 25 | $30.8M | $219.9M | ||
| Q3 25 | $36.5M | $-806.0K | ||
| Q2 25 | $36.5M | $72.9M | ||
| Q1 25 | $26.0M | $42.7M | ||
| Q4 24 | $28.7M | $36.9M | ||
| Q3 24 | $24.7M | $46.4M | ||
| Q2 24 | $28.7M | $50.4M | ||
| Q1 24 | $26.0M | $47.0M |
| Q4 25 | 21.4% | — | ||
| Q3 25 | 21.1% | — | ||
| Q2 25 | 21.6% | — | ||
| Q1 25 | 19.7% | — | ||
| Q4 24 | 19.2% | — | ||
| Q3 24 | 17.0% | — | ||
| Q2 24 | 20.8% | — | ||
| Q1 24 | 18.4% | — |
| Q4 25 | 11.3% | 19.0% | ||
| Q3 25 | 12.3% | 18.4% | ||
| Q2 25 | 12.6% | 23.7% | ||
| Q1 25 | 9.4% | 22.5% | ||
| Q4 24 | 10.5% | 23.6% | ||
| Q3 24 | 7.3% | 20.6% | ||
| Q2 24 | 11.9% | 23.0% | ||
| Q1 24 | 10.4% | 25.5% |
| Q4 25 | 9.2% | 65.3% | ||
| Q3 25 | 8.9% | -0.2% | ||
| Q2 25 | 9.2% | 21.4% | ||
| Q1 25 | 7.3% | 12.8% | ||
| Q4 24 | 9.2% | 10.7% | ||
| Q3 24 | 7.0% | 13.6% | ||
| Q2 24 | 8.6% | 14.8% | ||
| Q1 24 | 7.5% | 14.6% |
| Q4 25 | $0.94 | $4.37 | ||
| Q3 25 | $1.11 | $-0.02 | ||
| Q2 25 | $1.12 | $1.46 | ||
| Q1 25 | $0.79 | $0.83 | ||
| Q4 24 | $0.86 | $0.70 | ||
| Q3 24 | $0.71 | $0.87 | ||
| Q2 24 | $0.85 | $0.94 | ||
| Q1 24 | $0.79 | $0.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $241.7M | $578.8M |
| Total DebtLower is stronger | — | $670.1M |
| Stockholders' EquityBook value | $271.4M | $1.4B |
| Total Assets | $642.3M | $2.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.7M | $578.8M | ||
| Q3 25 | $229.3M | $428.2M | ||
| Q2 25 | $173.1M | $369.4M | ||
| Q1 25 | $130.7M | $341.8M | ||
| Q4 24 | $136.1M | $324.9M | ||
| Q3 24 | $127.7M | $280.8M | ||
| Q2 24 | $88.4M | $315.9M | ||
| Q1 24 | $93.1M | $280.9M |
| Q4 25 | — | $670.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $647.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $271.4M | $1.4B | ||
| Q3 25 | $255.4M | $1.1B | ||
| Q2 25 | $221.8M | $1.1B | ||
| Q1 25 | $190.4M | $1.1B | ||
| Q4 24 | $179.7M | $1.1B | ||
| Q3 24 | $159.6M | $1.1B | ||
| Q2 24 | $137.3M | $1.1B | ||
| Q1 24 | $105.8M | $1.1B |
| Q4 25 | $642.3M | $2.4B | ||
| Q3 25 | $625.3M | $2.1B | ||
| Q2 25 | $575.5M | $2.1B | ||
| Q1 25 | $543.7M | $2.1B | ||
| Q4 24 | $535.2M | $2.1B | ||
| Q3 24 | $524.9M | $2.0B | ||
| Q2 24 | $468.1M | $2.1B | ||
| Q1 24 | $456.5M | $2.1B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $36.6M | $153.0M |
| Free Cash FlowOCF − Capex | $31.1M | $147.8M |
| FCF MarginFCF / Revenue | 9.3% | 43.9% |
| Capex IntensityCapex / Revenue | 1.6% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.19× | 0.70× |
| TTM Free Cash FlowTrailing 4 quarters | $162.6M | $353.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.6M | $153.0M | ||
| Q3 25 | $65.1M | $54.7M | ||
| Q2 25 | $56.9M | $85.4M | ||
| Q1 25 | $27.8M | $86.0M | ||
| Q4 24 | $26.4M | $100.0M | ||
| Q3 24 | $55.4M | $49.0M | ||
| Q2 24 | $989.0K | $78.6M | ||
| Q1 24 | $54.6M | $54.8M |
| Q4 25 | $31.1M | $147.8M | ||
| Q3 25 | $60.5M | $49.6M | ||
| Q2 25 | $52.3M | $80.2M | ||
| Q1 25 | $18.7M | $75.7M | ||
| Q4 24 | $21.8M | $95.5M | ||
| Q3 24 | $50.2M | $43.3M | ||
| Q2 24 | $-3.5M | $72.3M | ||
| Q1 24 | $51.8M | $43.8M |
| Q4 25 | 9.3% | 43.9% | ||
| Q3 25 | 14.8% | 14.5% | ||
| Q2 25 | 13.1% | 23.5% | ||
| Q1 25 | 5.2% | 22.7% | ||
| Q4 24 | 7.0% | 27.7% | ||
| Q3 24 | 14.3% | 12.7% | ||
| Q2 24 | -1.1% | 21.3% | ||
| Q1 24 | 15.0% | 13.6% |
| Q4 25 | 1.6% | 1.5% | ||
| Q3 25 | 1.1% | 1.5% | ||
| Q2 25 | 1.2% | 1.5% | ||
| Q1 25 | 2.5% | 3.1% | ||
| Q4 24 | 1.5% | 1.3% | ||
| Q3 24 | 1.5% | 1.7% | ||
| Q2 24 | 1.3% | 1.9% | ||
| Q1 24 | 0.8% | 3.4% |
| Q4 25 | 1.19× | 0.70× | ||
| Q3 25 | 1.78× | — | ||
| Q2 25 | 1.56× | 1.17× | ||
| Q1 25 | 1.07× | 2.02× | ||
| Q4 24 | 0.92× | 2.71× | ||
| Q3 24 | 2.24× | 1.06× | ||
| Q2 24 | 0.03× | 1.56× | ||
| Q1 24 | 2.10× | 1.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLBD
| Alternative Fuel Buses | $151.4M | 45% |
| Diesel Buses | $144.9M | 43% |
| Parts | $24.8M | 7% |
| Other | $12.1M | 4% |
TDW
Segment breakdown not available.
