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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and HELIX ENERGY SOLUTIONS GROUP INC (HLX). Click either name above to swap in a different company.
HELIX ENERGY SOLUTIONS GROUP INC is the larger business by last-quarter revenue ($287.9M vs $233.0M, roughly 1.2× CSW INDUSTRIALS, INC.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -4.7%, a 9.1% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -13.8%). HELIX ENERGY SOLUTIONS GROUP INC produced more free cash flow last quarter ($59.0M vs $22.7M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -11.2%).
Helix Energy Solutions Inc., known as Cal Dive International prior to 2006, is an American oil and gas services company headquartered in Houston, Texas. The company is a global provider of offshore services in well intervention and ROV operations of new and existing oil and gas fields.
CSW vs HLX — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $287.9M |
| Net Profit | $10.3M | $-13.4M |
| Gross Margin | 39.7% | 3.1% |
| Operating Margin | 7.4% | — |
| Net Margin | 4.4% | -4.7% |
| Revenue YoY | 20.3% | -13.8% |
| Net Profit YoY | -61.9% | -536.4% |
| EPS (diluted) | $0.62 | $-0.09 |
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.
| Q1 26 | — | $287.9M | ||
| Q4 25 | $233.0M | $334.2M | ||
| Q3 25 | $277.0M | $377.0M | ||
| Q2 25 | $263.6M | $302.3M | ||
| Q1 25 | $230.5M | $278.1M | ||
| Q4 24 | $193.6M | $355.1M | ||
| Q3 24 | $227.9M | $342.4M | ||
| Q2 24 | $226.2M | $364.8M |
| Q1 26 | — | $-13.4M | ||
| Q4 25 | $10.3M | $8.3M | ||
| Q3 25 | $40.7M | $22.1M | ||
| Q2 25 | $40.9M | $-2.6M | ||
| Q1 25 | $35.1M | $3.1M | ||
| Q4 24 | $26.9M | $20.1M | ||
| Q3 24 | $36.1M | $29.5M | ||
| Q2 24 | $38.6M | $32.3M |
| Q1 26 | — | 3.1% | ||
| Q4 25 | 39.7% | 15.2% | ||
| Q3 25 | 43.0% | 17.5% | ||
| Q2 25 | 43.8% | 4.9% | ||
| Q1 25 | 44.2% | 9.9% | ||
| Q4 24 | 41.4% | 16.6% | ||
| Q3 24 | 45.6% | 19.2% | ||
| Q2 24 | 47.5% | 20.7% |
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | 3.7% | ||
| Q3 25 | 20.5% | 12.7% | ||
| Q2 25 | 20.8% | -1.0% | ||
| Q1 25 | 19.5% | 2.9% | ||
| Q4 24 | 15.3% | 8.7% | ||
| Q3 24 | 22.6% | 13.0% | ||
| Q2 24 | 24.3% | 14.6% |
| Q1 26 | — | -4.7% | ||
| Q4 25 | 4.4% | 2.5% | ||
| Q3 25 | 14.7% | 5.9% | ||
| Q2 25 | 15.5% | -0.9% | ||
| Q1 25 | 15.2% | 1.1% | ||
| Q4 24 | 13.9% | 5.7% | ||
| Q3 24 | 15.8% | 8.6% | ||
| Q2 24 | 17.1% | 8.9% |
| Q1 26 | — | $-0.09 | ||
| Q4 25 | $0.62 | $0.06 | ||
| Q3 25 | $2.41 | $0.15 | ||
| Q2 25 | $2.43 | $-0.02 | ||
| Q1 25 | $2.05 | $0.02 | ||
| Q4 24 | $1.60 | $0.13 | ||
| Q3 24 | $2.26 | $0.19 | ||
| Q2 24 | $2.47 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $501.3M |
| Total DebtLower is stronger | — | $303.8M |
| Stockholders' EquityBook value | $1.1B | $1.6B |
| Total Assets | $2.3B | $2.6B |
| Debt / EquityLower = less leverage | — | 0.20× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $501.3M | ||
| Q4 25 | $40.2M | $445.2M | ||
| Q3 25 | $31.5M | $338.0M | ||
| Q2 25 | $38.0M | $319.7M | ||
| Q1 25 | $225.8M | $370.0M | ||
| Q4 24 | $213.8M | $368.0M | ||
| Q3 24 | $273.2M | $324.1M | ||
| Q2 24 | $18.9M | $275.1M |
| Q1 26 | — | $303.8M | ||
| Q4 25 | — | $308.0M | ||
| Q3 25 | — | $307.5M | ||
| Q2 25 | — | $311.6M | ||
| Q1 25 | $800.1M | $311.1M | ||
| Q4 24 | — | $315.2M | ||
| Q3 24 | — | $314.7M | ||
| Q2 24 | — | $318.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $1.0B | $1.6B | ||
| Q2 24 | $650.2M | $1.5B |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $2.3B | $2.6B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.5B | $2.7B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $1.4B | $2.6B | ||
| Q3 24 | $1.4B | $2.7B | ||
| Q2 24 | $1.1B | $2.6B |
| Q1 26 | — | 0.20× | ||
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | 0.20× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | 0.75× | 0.20× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.21× |
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 | $28.9M | $61.8M |
| Free Cash FlowOCF − Capex | $22.7M | $59.0M |
| FCF MarginFCF / Revenue | 9.8% | 20.5% |
| Capex IntensityCapex / Revenue | 2.6% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $167.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.8M | ||
| Q4 25 | $28.9M | $113.2M | ||
| Q3 25 | $61.8M | $24.3M | ||
| Q2 25 | $60.6M | $-17.1M | ||
| Q1 25 | $27.3M | $16.4M | ||
| Q4 24 | $11.6M | $78.0M | ||
| Q3 24 | $66.8M | $55.7M | ||
| Q2 24 | $62.7M | $-12.2M |
| Q1 26 | — | $59.0M | ||
| Q4 25 | $22.7M | $107.5M | ||
| Q3 25 | $58.7M | $22.6M | ||
| Q2 25 | $57.7M | $-21.6M | ||
| Q1 25 | $22.8M | $12.0M | ||
| Q4 24 | $8.5M | $65.5M | ||
| Q3 24 | $61.3M | $52.5M | ||
| Q2 24 | $59.6M | $-16.2M |
| Q1 26 | — | 20.5% | ||
| Q4 25 | 9.8% | 32.2% | ||
| Q3 25 | 21.2% | 6.0% | ||
| Q2 25 | 21.9% | -7.1% | ||
| Q1 25 | 9.9% | 4.3% | ||
| Q4 24 | 4.4% | 18.4% | ||
| Q3 24 | 26.9% | 15.3% | ||
| Q2 24 | 26.3% | -4.4% |
| Q1 26 | — | 1.0% | ||
| Q4 25 | 2.6% | 1.7% | ||
| Q3 25 | 1.1% | 0.4% | ||
| Q2 25 | 1.1% | 1.5% | ||
| Q1 25 | 2.0% | 1.6% | ||
| Q4 24 | 1.6% | 3.5% | ||
| Q3 24 | 2.4% | 0.9% | ||
| Q2 24 | 1.4% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.81× | 13.68× | ||
| Q3 25 | 1.52× | 1.10× | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | 5.35× | ||
| Q4 24 | 0.43× | 3.88× | ||
| Q3 24 | 1.85× | 1.89× | ||
| Q2 24 | 1.62× | -0.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
HLX
Segment breakdown not available.
