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Side-by-side financial comparison of HELIX ENERGY SOLUTIONS GROUP INC (HLX) and BRC Group Holdings, Inc. (RILY). 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 $188.3M, roughly 1.5× BRC Group Holdings, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs -4.7%, a 52.6% gap on every dollar of revenue. On growth, HELIX ENERGY SOLUTIONS GROUP INC posted the faster year-over-year revenue change (-13.8% vs -21.9%). Over the past eight quarters, HELIX ENERGY SOLUTIONS GROUP INC's revenue compounded faster (-11.2% CAGR vs -15.4%).
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.
HLX vs RILY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $287.9M | $188.3M |
| Net Profit | $-13.4M | $90.3M |
| Gross Margin | 3.1% | 79.5% |
| Operating Margin | — | 32.3% |
| Net Margin | -4.7% | 47.9% |
| Revenue YoY | -13.8% | -21.9% |
| Net Profit YoY | -536.4% | 1710.8% |
| EPS (diluted) | $-0.09 | $2.78 |
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 | $334.2M | $188.3M | ||
| Q3 25 | $377.0M | $215.3M | ||
| Q2 25 | $302.3M | $188.2M | ||
| Q1 25 | $278.1M | $197.2M | ||
| Q4 24 | $355.1M | $241.0M | ||
| Q3 24 | $342.4M | $225.5M | ||
| Q2 24 | $364.8M | $256.0M |
| Q1 26 | $-13.4M | — | ||
| Q4 25 | $8.3M | $90.3M | ||
| Q3 25 | $22.1M | $91.1M | ||
| Q2 25 | $-2.6M | $139.5M | ||
| Q1 25 | $3.1M | $-10.0M | ||
| Q4 24 | $20.1M | $-5.6M | ||
| Q3 24 | $29.5M | $-284.4M | ||
| Q2 24 | $32.3M | $-433.6M |
| Q1 26 | 3.1% | — | ||
| Q4 25 | 15.2% | 79.5% | ||
| Q3 25 | 17.5% | 83.7% | ||
| Q2 25 | 4.9% | 81.3% | ||
| Q1 25 | 9.9% | 81.4% | ||
| Q4 24 | 16.6% | 79.8% | ||
| Q3 24 | 19.2% | 82.1% | ||
| Q2 24 | 20.7% | 84.5% |
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | 32.3% | ||
| Q3 25 | 12.7% | 30.4% | ||
| Q2 25 | -1.0% | 5.7% | ||
| Q1 25 | 2.9% | -31.2% | ||
| Q4 24 | 8.7% | -69.2% | ||
| Q3 24 | 13.0% | -36.4% | ||
| Q2 24 | 14.6% | -90.8% |
| Q1 26 | -4.7% | — | ||
| Q4 25 | 2.5% | 47.9% | ||
| Q3 25 | 5.9% | 42.3% | ||
| Q2 25 | -0.9% | 74.1% | ||
| Q1 25 | 1.1% | -5.1% | ||
| Q4 24 | 5.7% | -2.3% | ||
| Q3 24 | 8.6% | -126.1% | ||
| Q2 24 | 8.9% | -169.4% |
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $0.06 | $2.78 | ||
| Q3 25 | $0.15 | $2.91 | ||
| Q2 25 | $-0.02 | $4.50 | ||
| Q1 25 | $0.02 | $-0.39 | ||
| Q4 24 | $0.13 | $-0.01 | ||
| Q3 24 | $0.19 | $-9.39 | ||
| Q2 24 | $0.21 | $-14.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $501.3M | $226.6M |
| Total DebtLower is stronger | $303.8M | $1.4B |
| Stockholders' EquityBook value | $1.6B | $-171.5M |
| Total Assets | $2.6B | $1.7B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $501.3M | — | ||
| Q4 25 | $445.2M | $226.6M | ||
| Q3 25 | $338.0M | $184.2M | ||
| Q2 25 | $319.7M | $267.4M | ||
| Q1 25 | $370.0M | $138.3M | ||
| Q4 24 | $368.0M | $146.9M | ||
| Q3 24 | $324.1M | $159.2M | ||
| Q2 24 | $275.1M | $236.9M |
| Q1 26 | $303.8M | — | ||
| Q4 25 | $308.0M | $1.4B | ||
| Q3 25 | $307.5M | $1.3B | ||
| Q2 25 | $311.6M | $1.3B | ||
| Q1 25 | $311.1M | $1.4B | ||
| Q4 24 | $315.2M | $1.5B | ||
| Q3 24 | $314.7M | — | ||
| Q2 24 | $318.6M | — |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $-171.5M | ||
| Q3 25 | $1.6B | $-260.5M | ||
| Q2 25 | $1.6B | $-351.7M | ||
| Q1 25 | $1.5B | $-496.8M | ||
| Q4 24 | $1.5B | $-488.2M | ||
| Q3 24 | $1.6B | $-497.6M | ||
| Q2 24 | $1.5B | $-218.3M |
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $1.7B | ||
| Q3 25 | $2.6B | $1.7B | ||
| Q2 25 | $2.7B | $1.5B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.7B | $2.2B | ||
| Q2 24 | $2.6B | $3.2B |
| Q1 26 | 0.20× | — | ||
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 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 | $61.8M | $26.2M |
| Free Cash FlowOCF − Capex | $59.0M | — |
| FCF MarginFCF / Revenue | 20.5% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | — | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $167.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $61.8M | — | ||
| Q4 25 | $113.2M | $26.2M | ||
| Q3 25 | $24.3M | $-60.6M | ||
| Q2 25 | $-17.1M | $-25.6M | ||
| Q1 25 | $16.4M | $184.0K | ||
| Q4 24 | $78.0M | $-2.7M | ||
| Q3 24 | $55.7M | $19.5M | ||
| Q2 24 | $-12.2M | $111.5M |
| Q1 26 | $59.0M | — | ||
| Q4 25 | $107.5M | — | ||
| Q3 25 | $22.6M | — | ||
| Q2 25 | $-21.6M | — | ||
| Q1 25 | $12.0M | — | ||
| Q4 24 | $65.5M | — | ||
| Q3 24 | $52.5M | — | ||
| Q2 24 | $-16.2M | — |
| Q1 26 | 20.5% | — | ||
| Q4 25 | 32.2% | — | ||
| Q3 25 | 6.0% | — | ||
| Q2 25 | -7.1% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 18.4% | — | ||
| Q3 24 | 15.3% | — | ||
| Q2 24 | -4.4% | — |
| Q1 26 | 1.0% | — | ||
| Q4 25 | 1.7% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 1.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 13.68× | 0.29× | ||
| Q3 25 | 1.10× | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | 5.35× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | -0.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLX
Segment breakdown not available.
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
