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Side-by-side financial comparison of dLocal Ltd (DLO) and TIDEWATER INC (TDW). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $336.8M, roughly 1.0× TIDEWATER INC). TIDEWATER INC runs the higher net margin — 65.3% vs 16.5%, a 48.8% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs -2.4%). TIDEWATER INC produced more free cash flow last quarter ($147.8M vs $99.8M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
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.
DLO vs TDW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $336.8M |
| Net Profit | $55.6M | $219.9M |
| Gross Margin | 34.3% | — |
| Operating Margin | 18.6% | 19.0% |
| Net Margin | 16.5% | 65.3% |
| Revenue YoY | 65.2% | -2.4% |
| Net Profit YoY | 87.3% | 495.8% |
| EPS (diluted) | $0.18 | $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 | $337.9M | $336.8M | ||
| Q3 25 | $282.5M | $341.1M | ||
| Q2 25 | — | $341.4M | ||
| Q1 25 | — | $333.4M | ||
| Q4 24 | $204.5M | $345.1M | ||
| Q3 24 | $185.8M | $340.4M | ||
| Q2 24 | — | $339.2M | ||
| Q1 24 | — | $321.2M |
| Q4 25 | $55.6M | $219.9M | ||
| Q3 25 | $141.3M | $-806.0K | ||
| Q2 25 | — | $72.9M | ||
| Q1 25 | — | $42.7M | ||
| Q4 24 | $29.7M | $36.9M | ||
| Q3 24 | $90.8M | $46.4M | ||
| Q2 24 | — | $50.4M | ||
| Q1 24 | — | $47.0M |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 18.6% | 19.0% | ||
| Q3 25 | 19.7% | 18.4% | ||
| Q2 25 | — | 23.7% | ||
| Q1 25 | — | 22.5% | ||
| Q4 24 | 20.7% | 23.6% | ||
| Q3 24 | 22.1% | 20.6% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 25.5% |
| Q4 25 | 16.5% | 65.3% | ||
| Q3 25 | 50.0% | -0.2% | ||
| Q2 25 | — | 21.4% | ||
| Q1 25 | — | 12.8% | ||
| Q4 24 | 14.5% | 10.7% | ||
| Q3 24 | 48.9% | 13.6% | ||
| Q2 24 | — | 14.8% | ||
| Q1 24 | — | 14.6% |
| Q4 25 | $0.18 | $4.37 | ||
| Q3 25 | $0.17 | $-0.02 | ||
| Q2 25 | — | $1.46 | ||
| Q1 25 | — | $0.83 | ||
| Q4 24 | $0.09 | $0.70 | ||
| Q3 24 | $0.09 | $0.87 | ||
| Q2 24 | — | $0.94 | ||
| Q1 24 | — | $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 | $719.9M | $578.8M |
| Total DebtLower is stronger | $86.7M | $670.1M |
| Stockholders' EquityBook value | $569.4M | $1.4B |
| Total Assets | $1.5B | $2.4B |
| Debt / EquityLower = less leverage | 0.15× | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $578.8M | ||
| Q3 25 | $604.5M | $428.2M | ||
| Q2 25 | — | $369.4M | ||
| Q1 25 | — | $341.8M | ||
| Q4 24 | $425.2M | $324.9M | ||
| Q3 24 | $560.5M | $280.8M | ||
| Q2 24 | — | $315.9M | ||
| Q1 24 | — | $280.9M |
| Q4 25 | $86.7M | $670.1M | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $39.8M | $647.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $569.4M | $1.4B | ||
| Q3 25 | $504.7M | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $489.0M | $1.1B | ||
| Q3 24 | $457.0M | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $1.5B | $2.4B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | 0.15× | 0.49× | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.08× | 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 | $100.4M | $153.0M |
| Free Cash FlowOCF − Capex | $99.8M | $147.8M |
| FCF MarginFCF / Revenue | 29.5% | 43.9% |
| Capex IntensityCapex / Revenue | 0.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.80× | 0.70× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $353.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $153.0M | ||
| Q3 25 | $315.0M | $54.7M | ||
| Q2 25 | — | $85.4M | ||
| Q1 25 | — | $86.0M | ||
| Q4 24 | $-141.1M | $100.0M | ||
| Q3 24 | $108.3M | $49.0M | ||
| Q2 24 | — | $78.6M | ||
| Q1 24 | — | $54.8M |
| Q4 25 | $99.8M | $147.8M | ||
| Q3 25 | $313.4M | $49.6M | ||
| Q2 25 | — | $80.2M | ||
| Q1 25 | — | $75.7M | ||
| Q4 24 | $-141.6M | $95.5M | ||
| Q3 24 | $107.1M | $43.3M | ||
| Q2 24 | — | $72.3M | ||
| Q1 24 | — | $43.8M |
| Q4 25 | 29.5% | 43.9% | ||
| Q3 25 | 110.9% | 14.5% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | — | 22.7% | ||
| Q4 24 | -69.2% | 27.7% | ||
| Q3 24 | 57.6% | 12.7% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 13.6% |
| Q4 25 | 0.2% | 1.5% | ||
| Q3 25 | 0.6% | 1.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | 0.2% | 1.3% | ||
| Q3 24 | 0.7% | 1.7% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 3.4% |
| Q4 25 | 1.80× | 0.70× | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | — | 1.17× | ||
| Q1 25 | — | 2.02× | ||
| Q4 24 | -4.75× | 2.71× | ||
| Q3 24 | 1.19× | 1.06× | ||
| Q2 24 | — | 1.56× | ||
| Q1 24 | — | 1.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
