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The Screen · Energy · Oil & Gas Equipment & Services
Tidewater Inc.
TDW · the NYSE · USD · Market cap $3.4B · 7,300 employees
Tidewater Inc., together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide.
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 1.38, read 2026-11-05
Ethical passes the values gate
Price69.08 USD
Fair value74.92
Ethical score70.0/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-11-04Read Distribution77.44-10.8% to today ✓Accumulation gives way to Distribution
2026-10-28Read Accumulation79.61-13.2% to today Markdown gives way to Accumulation after a 7% slide in 4 weeks
2026-10-02Read Markdown85.57-19.3% to today ✓Accumulation gives way to Markdown after an 8% slide in 3 weeks
2026-09-14Read Accumulation93.04-25.8% to today Markup gives way to Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Tidewater Inc. holds its Distribution at $69.08. Consolidating, no directional conviction, held for 33 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 33 days
Price at the screen
$69.08
Valuation
14.07 trailing · 11.37 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.61
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
28.46%
Below 33%
Interest-bearing debt is just 28.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
36.20%
Below 49%
Money owed to the company is 36.2% of assets, under the 49% limit.
Pass
Revenue purity
0.60%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Tidewater clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 28%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today TDW passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades at roughly an 8% discount to our $74.92 fair value, 0.30% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 7.8% discount to the base estimate.
Where our models see it going: fair-value estimate $74.92, with a range of $61.20 to $86.15, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Offshore vessels chase oil that rarely stays steady
Picture a fleet of ships servicing rigs that only earn when crude prices cooperate. Tidewater sits right in that spot, offering marine support to the offshore energy patch, yet revenue has already dropped 43% while the forward multiple sits at just 12.1 times. Our fair value sits below the current price, so the apparent bargain is no bargain at all.
The low multiple reflects peak-cycle earnings, not a durable edge. Profit margins of 22% and return on equity of 24% look solid today, but both numbers are hostages to energy prices that swing hard and fast. Analysts rate the shares a hold with a median target above the market price, yet none of that changes the fact that the business is cyclical by nature.
Currency swings, contract gaps and sudden rig idling sit at the core of the risk. The ethical screen clears without issue, yet the absence of any margin of safety leaves nothing to work with here. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TDW trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-06Distribution$69.08-6.1%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-05Distribution$73.54-5.0%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Accumulation$79.04-9.5%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 9.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Accumulation$87.33+9.7%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 9.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter.
2026-10-21Markdown$79.18-7.3%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter.
2026-10-14Markdown$85.42-0.2%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter.
2026-10-02Markdown · changed$85.57-8.0%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87. Insiders have been net sellers over the past quarter.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 15% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $87.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
