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Side-by-side financial comparison of TIDEWATER INC (TDW) and EXPRO GROUP HOLDINGS N.V. (XPRO). Click either name above to swap in a different company.
EXPRO GROUP HOLDINGS N.V. is the larger business by last-quarter revenue ($367.6M vs $336.8M, roughly 1.1× TIDEWATER INC). On growth, TIDEWATER INC posted the faster year-over-year revenue change (-2.4% vs -6.0%). TIDEWATER INC produced more free cash flow last quarter ($147.8M vs $23.2M). Over the past eight quarters, TIDEWATER INC's revenue compounded faster (2.4% CAGR vs -11.5%).
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.
Expro is an energy services provider headquartered in Houston, Texas, United States.
TDW vs XPRO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $336.8M | $367.6M |
| Net Profit | $219.9M | — |
| Gross Margin | — | 6.7% |
| Operating Margin | 19.0% | 0.0% |
| Net Margin | 65.3% | — |
| Revenue YoY | -2.4% | -6.0% |
| Net Profit YoY | 495.8% | — |
| EPS (diluted) | $4.37 | $0.05 |
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 | — | $367.6M | ||
| Q4 25 | $336.8M | $382.1M | ||
| Q3 25 | $341.1M | $411.4M | ||
| Q2 25 | $341.4M | $422.7M | ||
| Q1 25 | $333.4M | $390.9M | ||
| Q4 24 | $345.1M | $436.8M | ||
| Q3 24 | $340.4M | $422.8M | ||
| Q2 24 | $339.2M | $469.6M |
| Q1 26 | — | — | ||
| Q4 25 | $219.9M | $5.8M | ||
| Q3 25 | $-806.0K | $14.0M | ||
| Q2 25 | $72.9M | $18.0M | ||
| Q1 25 | $42.7M | $13.9M | ||
| Q4 24 | $36.9M | $23.0M | ||
| Q3 24 | $46.4M | $16.3M | ||
| Q2 24 | $50.4M | $15.3M |
| Q1 26 | — | 6.7% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 19.0% | 3.1% | ||
| Q3 25 | 18.4% | 6.4% | ||
| Q2 25 | 23.7% | 7.7% | ||
| Q1 25 | 22.5% | 2.6% | ||
| Q4 24 | 23.6% | 7.3% | ||
| Q3 24 | 20.6% | 6.2% | ||
| Q2 24 | 23.0% | 5.9% |
| Q1 26 | — | — | ||
| Q4 25 | 65.3% | 1.5% | ||
| Q3 25 | -0.2% | 3.4% | ||
| Q2 25 | 21.4% | 4.3% | ||
| Q1 25 | 12.8% | 3.6% | ||
| Q4 24 | 10.7% | 5.3% | ||
| Q3 24 | 13.6% | 3.8% | ||
| Q2 24 | 14.8% | 3.3% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $4.37 | $0.05 | ||
| Q3 25 | $-0.02 | $0.12 | ||
| Q2 25 | $1.46 | $0.16 | ||
| Q1 25 | $0.83 | $0.12 | ||
| Q4 24 | $0.70 | $0.20 | ||
| Q3 24 | $0.87 | $0.14 | ||
| Q2 24 | $0.94 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $578.8M | $170.7M |
| Total DebtLower is stronger | $670.1M | $79.1M |
| Stockholders' EquityBook value | $1.4B | $1.5B |
| Total Assets | $2.4B | $2.2B |
| Debt / EquityLower = less leverage | 0.49× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $170.7M | ||
| Q4 25 | $578.8M | $196.1M | ||
| Q3 25 | $428.2M | $197.9M | ||
| Q2 25 | $369.4M | $206.8M | ||
| Q1 25 | $341.8M | $179.3M | ||
| Q4 24 | $324.9M | $183.0M | ||
| Q3 24 | $280.8M | $165.7M | ||
| Q2 24 | $315.9M | $133.5M |
| Q1 26 | — | $79.1M | ||
| Q4 25 | $670.1M | $79.1M | ||
| Q3 25 | — | $99.1M | ||
| Q2 25 | — | $121.1M | ||
| Q1 25 | — | $121.1M | ||
| Q4 24 | $647.9M | $121.1M | ||
| Q3 24 | — | $121.1M | ||
| Q2 24 | — | $121.1M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.1B | $1.5B | ||
| Q2 24 | $1.1B | $1.5B |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $2.4B | $2.3B | ||
| Q3 25 | $2.1B | $2.3B | ||
| Q2 25 | $2.1B | $2.3B | ||
| Q1 25 | $2.1B | $2.3B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.0B | $2.3B | ||
| Q2 24 | $2.1B | $2.3B |
| Q1 26 | — | 0.05× | ||
| Q4 25 | 0.49× | 0.05× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | 0.58× | 0.08× | ||
| Q3 24 | — | 0.08× | ||
| Q2 24 | — | 0.08× |
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 | $153.0M | $25.3M |
| Free Cash FlowOCF − Capex | $147.8M | $23.2M |
| FCF MarginFCF / Revenue | 43.9% | 6.3% |
| Capex IntensityCapex / Revenue | 1.5% | 1.2% |
| Cash ConversionOCF / Net Profit | 0.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $353.3M | $112.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $25.3M | ||
| Q4 25 | $153.0M | $57.1M | ||
| Q3 25 | $54.7M | $63.2M | ||
| Q2 25 | $85.4M | $48.4M | ||
| Q1 25 | $86.0M | $41.5M | ||
| Q4 24 | $100.0M | $97.4M | ||
| Q3 24 | $49.0M | $55.3M | ||
| Q2 24 | $78.6M | $-13.2M |
| Q1 26 | — | $23.2M | ||
| Q4 25 | $147.8M | $23.2M | ||
| Q3 25 | $49.6M | $39.0M | ||
| Q2 25 | $80.2M | $27.2M | ||
| Q1 25 | $75.7M | $8.4M | ||
| Q4 24 | $95.5M | $53.0M | ||
| Q3 24 | $43.3M | $23.3M | ||
| Q2 24 | $72.3M | $-49.5M |
| Q1 26 | — | 6.3% | ||
| Q4 25 | 43.9% | 6.1% | ||
| Q3 25 | 14.5% | 9.5% | ||
| Q2 25 | 23.5% | 6.4% | ||
| Q1 25 | 22.7% | 2.1% | ||
| Q4 24 | 27.7% | 12.1% | ||
| Q3 24 | 12.7% | 5.5% | ||
| Q2 24 | 21.3% | -10.5% |
| Q1 26 | — | 1.2% | ||
| Q4 25 | 1.5% | 8.9% | ||
| Q3 25 | 1.5% | 5.9% | ||
| Q2 25 | 1.5% | 5.0% | ||
| Q1 25 | 3.1% | 8.5% | ||
| Q4 24 | 1.3% | 10.2% | ||
| Q3 24 | 1.7% | 7.6% | ||
| Q2 24 | 1.9% | 7.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.70× | 9.89× | ||
| Q3 25 | — | 4.52× | ||
| Q2 25 | 1.17× | 2.69× | ||
| Q1 25 | 2.02× | 2.98× | ||
| Q4 24 | 2.71× | 4.23× | ||
| Q3 24 | 1.06× | 3.40× | ||
| Q2 24 | 1.56× | -0.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
