RPC vs Tidewater
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KIRAβs take AI analyst
I put RPC and Tidewater side by side, using each oneβs latest annual report. Here is what stands out:
- RPC is the larger business, with $1.6B of revenue in fiscal 2025 against $1.4B for Tidewater.
- RPC grew revenue faster (15.0%, against 0.5%).
- Tidewater kept more of each dollar of sales as operating profit (20.9% operating margin, against 2.8%).
- Tidewater turned more of its sales into free cash flow (26.1% FCF margin, against 3.3%).
- Investors pay more for each dollar of RPCβs earnings: a P/E of 62.5x against 17.6x for Tidewater.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
RPC
RES
2/8
Revenue growthNet debt / EBITDA
Tidewater
TDW
6/8
5-year growthOperating marginNet marginFCF marginReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | RES FY25 | TDW FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.3B | $4.3B |
| Revenue | $1.6B | $1.4B |
| Free cash flow | $52.9M | $353M |
| Net income | $32.1M | $335M |
| Growth | ||
| Revenue growth | 15.0% | 0.5% |
| 5-year growth | 22.1% | 27.8% |
| Share count change | 0.4% | β5.0% |
| Profitability | ||
| Gross margin | 24.2% | β |
| Operating margin | 2.8% | 20.9% |
| Net margin | 2.0% | 24.7% |
| FCF margin | 3.3% | 26.1% |
| Return on capital | β | 19.4% |
| Return on equity | 3.0% | 27.0% |
| Balance sheet | ||
| Net debt | β$158M | $116M |
| Net debt / EBITDA | β0.8x | 0.3x |
| Dividends and buybacks | $38.0M | $90.1M |
| Valuation & quality | ||
| P/E | 62.5x | 17.6x |
| Piotroski F-score | β | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.