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Side-by-side financial comparison of H2O AMERICA (HTO) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $199.4M, roughly 1.9× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs 4.9%, a 3.2% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 5.8%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
HTO vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $377.3M |
| Net Profit | $16.2M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | 16.6% | 8.5% |
| Net Margin | 8.1% | 4.9% |
| Revenue YoY | 1.5% | 6.7% |
| Net Profit YoY | -29.2% | -42.1% |
| EPS (diluted) | $0.45 | $0.61 |
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 | $199.4M | $377.3M | ||
| Q3 25 | $243.5M | $386.3M | ||
| Q2 25 | $197.8M | $376.4M | ||
| Q1 25 | $164.9M | $350.5M | ||
| Q4 24 | $196.5M | $353.5M | ||
| Q3 24 | $216.7M | $365.1M | ||
| Q2 24 | $173.1M | $359.7M | ||
| Q1 24 | $150.0M | $337.1M |
| Q4 25 | $16.2M | $18.4M | ||
| Q3 25 | $45.1M | $51.5M | ||
| Q2 25 | $24.7M | $31.7M | ||
| Q1 25 | $16.6M | $27.4M | ||
| Q4 24 | $22.9M | $31.8M | ||
| Q3 24 | $38.7M | $28.2M | ||
| Q2 24 | $20.7M | $28.2M | ||
| Q1 24 | $11.7M | $6.6M |
| Q4 25 | 16.6% | 8.5% | ||
| Q3 25 | 26.5% | 13.1% | ||
| Q2 25 | 22.2% | 11.3% | ||
| Q1 25 | 21.8% | 9.6% | ||
| Q4 24 | 22.2% | 9.0% | ||
| Q3 24 | 26.9% | 9.1% | ||
| Q2 24 | 23.4% | 12.4% | ||
| Q1 24 | 18.6% | 6.8% |
| Q4 25 | 8.1% | 4.9% | ||
| Q3 25 | 18.5% | 13.3% | ||
| Q2 25 | 12.5% | 8.4% | ||
| Q1 25 | 10.0% | 7.8% | ||
| Q4 24 | 11.7% | 9.0% | ||
| Q3 24 | 17.8% | 7.7% | ||
| Q2 24 | 12.0% | 7.8% | ||
| Q1 24 | 7.8% | 2.0% |
| Q4 25 | $0.45 | $0.61 | ||
| Q3 25 | $1.27 | $1.72 | ||
| Q2 25 | $0.71 | $1.07 | ||
| Q1 25 | $0.49 | $0.92 | ||
| Q4 24 | $0.70 | $1.07 | ||
| Q3 24 | $1.17 | $0.95 | ||
| Q2 24 | $0.64 | $0.96 | ||
| Q1 24 | $0.36 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $286.2M |
| Total DebtLower is stronger | $1.9B | $671.5M |
| Stockholders' EquityBook value | $1.5B | $1.1B |
| Total Assets | $5.1B | $2.3B |
| Debt / EquityLower = less leverage | 1.23× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $286.2M | ||
| Q3 25 | $11.3M | $245.5M | ||
| Q2 25 | $19.8M | $251.8M | ||
| Q1 25 | $23.7M | $191.1M | ||
| Q4 24 | $11.1M | $247.5M | ||
| Q3 24 | $4.0M | $200.3M | ||
| Q2 24 | $22.8M | $178.6M | ||
| Q1 24 | $4.5M | $140.6M |
| Q4 25 | $1.9B | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | $1.7B | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | $1.5B | $1.0B | ||
| Q2 25 | $1.5B | $984.4M | ||
| Q1 25 | $1.4B | $931.7M | ||
| Q4 24 | $1.4B | $891.7M | ||
| Q3 24 | $1.3B | $899.2M | ||
| Q2 24 | $1.3B | $849.1M | ||
| Q1 24 | $1.2B | $820.7M |
| Q4 25 | $5.1B | $2.3B | ||
| Q3 25 | $5.0B | $2.3B | ||
| Q2 25 | $4.8B | $2.3B | ||
| Q1 25 | $4.7B | $2.2B | ||
| Q4 24 | $4.7B | $2.1B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $4.4B | $2.0B | ||
| Q1 24 | $4.4B | $1.9B |
| Q4 25 | 1.23× | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 1.26× | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $63.5M | $76.9M |
| Free Cash FlowOCF − Capex | — | $47.8M |
| FCF MarginFCF / Revenue | — | 12.7% |
| Capex IntensityCapex / Revenue | — | 7.7% |
| Cash ConversionOCF / Net Profit | 3.92× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $76.9M | ||
| Q3 25 | $77.3M | $23.1M | ||
| Q2 25 | $60.8M | $99.0M | ||
| Q1 25 | $43.2M | $-603.0K | ||
| Q4 24 | $41.5M | $51.1M | ||
| Q3 24 | $53.5M | $66.0M | ||
| Q2 24 | $49.3M | $33.7M | ||
| Q1 24 | $51.2M | $26.7M |
| Q4 25 | — | $47.8M | ||
| Q3 25 | — | $-6.2M | ||
| Q2 25 | — | $67.4M | ||
| Q1 25 | — | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $-16.7M | ||
| Q1 24 | — | $-37.9M |
| Q4 25 | — | 12.7% | ||
| Q3 25 | — | -1.6% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | — | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | -4.6% | ||
| Q1 24 | — | -11.2% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 23.6% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 14.0% | ||
| Q1 24 | — | 19.2% |
| Q4 25 | 3.92× | 4.17× | ||
| Q3 25 | 1.71× | 0.45× | ||
| Q2 25 | 2.47× | 3.12× | ||
| Q1 25 | 2.61× | -0.02× | ||
| Q4 24 | 1.81× | 1.61× | ||
| Q3 24 | 1.39× | 2.34× | ||
| Q2 24 | 2.38× | 1.20× | ||
| Q1 24 | 4.38× | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
