What does Tidewater do?

Tidewater owns and runs a worldwide fleet of ships that serve offshore oil and gas fields and offshore wind farms. Its vessels carry supplies and crews to offshore platforms and tow and anchor drilling rigs. They also support construction, subsea work and the eventual shutdown of old fields.

What is Tidewater's fair value?

On an owner-earnings DCF, Tidewater's most-likely fair value is about $49, versus a recent price near $85. A margin-of-safety estimate, not a price target. Analysis, not advice.

Energy · Oil & Gas Equipment & Services · TDW

What Tidewater Does & How It Makes Money (TDW)

Updated October 2026 · reflects Tidewater's latest reported financials

Offshore vessel operator supporting oil, gas and wind projects. It charters its vessels and crews to offshore energy companies, drilling contractors and wind developers, and earns fees for vessel time and marine support services across five regional segments.

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How Tidewater makes money

It charters its vessels and crews to offshore energy companies, drilling contractors and wind developers, and earns fees for vessel time and marine support services across five regional segments.

What Tidewater does

Tidewater Inc., founded in 1956 and based in Houston, Texas, operates one of the offshore energy industry's worldwide fleets of marine service vessels. Its fleet includes anchor handling towing supply vessels, platform supply vessels, crew boats, utility vessels, offshore tugs and other specialty ships. The company reports five regional segments: Americas, Asia Pacific, Middle East, Europe/Mediterranean and West Africa. Its vessels support every stage of an offshore field, from exploration and development through production, maintenance, abandonment and decommissioning. Work includes towing and anchoring drilling rigs, moving supplies and personnel, and supporting construction, seismic, subsea, pipe-laying and cable-laying projects. Customers include major and independent oil producers, state-owned oil companies, drilling contractors and offshore wind developers, so the business depends heavily on offshore energy activity.

Products & services

Anchor handling towing supply (AHTS) vessels
Platform supply vessels (PSVs)
Crew boats and utility vessels
Offshore tugs
Rig towing and anchor handling services
Windfarm construction and maintenance support

What is Tidewater worth?

On an owner-earnings DCF, Tidewater's most-likely value is about $49 versus a recent price near $85 (42% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$35) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.

Verdict: Fairly priced — no edge

Owner-earnings fair value · recent price ≈ $85

Fair value (most likely)

$49

Range

$39–$73

No-growth floor

$35

Price

~$85

Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.

Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →

Sector Energy Industry Oil & Gas Equipment & Services HQ United States Ticker TDW Official site

Related companies

Helix Energy Solutions (HLX) · TechnipFMC (FTI) · Ocean Power Technologies (OPTT) · International Seaways (INSW) · Offshore Oil Engineering (600583.SS)

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