Bristow (VTOL)
Market Price (5/30/2026): $41.67 | Market Cap: $1.2 BilSector: Energy | Industry: Oil & Gas Equipment & Services
Bristow (VTOL)
Market Price (5/30/2026): $41.67Market Cap: $1.2 BilSector: EnergyIndustry: Oil & Gas Equipment & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.4% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Low stock price volatilityVol 12M is 33% Megatrend and thematic driversMegatrends include Advanced Aviation & Space, and Offshore Wind Development. Themes include Advanced Helicopter Operations, Search & Rescue Aviation Technologies, Show more. | Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -9.6% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 54% Key risksVTOL key risks include [1] a significant dependence on the volatile offshore energy market and [2] transition and execution challenges with major government contracts like the Irish Coast Guard and UK Search and Rescue. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.7%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.4% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 33% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space, and Offshore Wind Development. Themes include Advanced Helicopter Operations, Search & Rescue Aviation Technologies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -9.6% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 54% |
| Key risksVTOL key risks include [1] a significant dependence on the volatile offshore energy market and [2] transition and execution challenges with major government contracts like the Irish Coast Guard and UK Search and Rescue. |
Qualitative Assessment
AI Analysis | Feedback
Bristow (VTOL) stock has lost about 5% since 1/31/2026 because of the following key factors:
1. Mixed First Quarter 2026 Financial Results Presented a Balanced View.
Bristow Group reported an increase in total revenues to $388.7 million for the first quarter ended March 31, 2026, surpassing analyst estimates of $384.1 million. However, diluted earnings per share (EPS) significantly missed expectations, coming in at $0.44 against a forecast of $0.99, a negative surprise of 55.56%. This combination of revenue growth and an earnings miss resulted in an immediate stock decline of 9.47% to 10.89% following the announcement, but overall, it created a mixed signal that contributed to the stock remaining largely flat over the broader period.
2. Increased Operational Costs and Depreciation Offset Revenue Gains.
The decline in net income for Q1 2026 was primarily driven by company-specific increased operating costs and depreciation. Key factors included a $6.4 million additional depreciation expense due to shortening the useful life of S76D helicopters and a $2.8 million loss on extinguishment of debt related to refinancing senior notes. Furthermore, Adjusted EBITDA saw a sequential decline of $0.9 million, attributed to higher repairs, maintenance, and leased-in equipment costs across segments. These substantial cost pressures largely counteracted the positive impact of increased revenues.
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Stock Movement Drivers
Fundamental Drivers
The -4.7% change in VTOL stock from 1/31/2026 to 5/29/2026 was primarily driven by a -22.7% change in the company's Net Income Margin (%).| (LTM values as of) | 1312026 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.70 | 41.64 | -4.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,467 | 1,529 | 4.2% |
| Net Income Margin (%) | 9.7% | 7.5% | -22.7% |
| P/E Multiple | 8.9 | 10.6 | 19.8% |
| Shares Outstanding (Mil) | 29 | 29 | -1.3% |
| Cumulative Contribution | -4.7% |
Market Drivers
1/31/2026 to 5/29/2026| Return | Correlation | |
|---|---|---|
| VTOL | -4.7% | |
| Market (SPY) | 9.6% | 20.1% |
| Sector (XLE) | 11.0% | 25.5% |
Fundamental Drivers
The 2.9% change in VTOL stock from 10/31/2025 to 5/29/2026 was primarily driven by a 8.4% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.46 | 41.64 | 2.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,446 | 1,529 | 5.7% |
| Net Income Margin (%) | 8.2% | 7.5% | -8.9% |
| P/E Multiple | 9.8 | 10.6 | 8.4% |
| Shares Outstanding (Mil) | 29 | 29 | -1.5% |
| Cumulative Contribution | 2.9% |
Market Drivers
10/31/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| VTOL | 2.9% | |
| Market (SPY) | 11.5% | 23.8% |
| Sector (XLE) | 29.7% | 32.9% |
Fundamental Drivers
The 44.2% change in VTOL stock from 4/30/2025 to 5/29/2026 was primarily driven by a 21.7% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.87 | 41.64 | 44.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,415 | 1,529 | 8.0% |
| Net Income Margin (%) | 6.7% | 7.5% | 12.2% |
| P/E Multiple | 8.7 | 10.6 | 21.7% |
| Shares Outstanding (Mil) | 29 | 29 | -2.1% |
| Cumulative Contribution | 44.2% |
Market Drivers
4/30/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| VTOL | 44.2% | |
| Market (SPY) | 38.0% | 25.1% |
| Sector (XLE) | 44.3% | 40.2% |
Fundamental Drivers
The 87.2% change in VTOL stock from 4/30/2023 to 5/29/2026 was primarily driven by a 454.8% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.24 | 41.64 | 87.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,192 | 1,529 | 28.2% |
| Net Income Margin (%) | 1.4% | 7.5% | 454.8% |
| P/E Multiple | 38.5 | 10.6 | -72.5% |
| Shares Outstanding (Mil) | 28 | 29 | -4.4% |
| Cumulative Contribution | 87.2% |
Market Drivers
4/30/2023 to 5/29/2026| Return | Correlation | |
|---|---|---|
| VTOL | 87.2% | |
| Market (SPY) | 89.0% | 40.9% |
| Sector (XLE) | 45.8% | 56.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VTOL Return | 20% | -14% | 4% | 21% | 7% | 15% | 60% |
| Peers Return | 5% | 1% | 53% | 42% | 24% | 15% | 225% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| VTOL Win Rate | 67% | 67% | 50% | 50% | 50% | 60% | |
| Peers Win Rate | 48% | 53% | 57% | 55% | 53% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| VTOL Max Drawdown | -26% | -43% | -32% | -18% | -32% | -16% | |
| Peers Max Drawdown | -29% | -37% | -19% | -29% | -30% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FTAI, AIR, CAE, LMT, BA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
| Event | VTOL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.7% | -18.8% |
| % Gain to Breakeven | 42.2% | 23.1% |
| Time to Breakeven | 106 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.1% | -9.5% |
| % Gain to Breakeven | 20.7% | 10.5% |
| Time to Breakeven | 148 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.5% | -6.7% |
| % Gain to Breakeven | 39.9% | 7.1% |
| Time to Breakeven | 102 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.5% | -24.5% |
| % Gain to Breakeven | 48.1% | 32.4% |
| Time to Breakeven | 673 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -68.7% | -33.7% |
| % Gain to Breakeven | 219.9% | 50.9% |
| Time to Breakeven | 52 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.0% | -19.2% |
| % Gain to Breakeven | 45.0% | 23.8% |
| Time to Breakeven | 534 days | 105 days |
In The Past
Bristow's stock fell -29.7% during the 2025 US Tariff Shock. Such a loss loss requires a 42.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | VTOL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.7% | -18.8% |
| % Gain to Breakeven | 42.2% | 23.1% |
| Time to Breakeven | 106 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.5% | -6.7% |
| % Gain to Breakeven | 39.9% | 7.1% |
| Time to Breakeven | 102 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.5% | -24.5% |
| % Gain to Breakeven | 48.1% | 32.4% |
| Time to Breakeven | 673 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -68.7% | -33.7% |
| % Gain to Breakeven | 219.9% | 50.9% |
| Time to Breakeven | 52 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.0% | -19.2% |
| % Gain to Breakeven | 45.0% | 23.8% |
| Time to Breakeven | 534 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -58.9% | -12.2% |
| % Gain to Breakeven | 143.2% | 13.9% |
| Time to Breakeven | 1642 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -70.6% | -6.8% |
| % Gain to Breakeven | 240.6% | 7.3% |
| Time to Breakeven | 1758 days | 15 days |
In The Past
Bristow's stock fell -29.7% during the 2025 US Tariff Shock. Such a loss loss requires a 42.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Bristow (VTOL)
AI Analysis | Feedback
Bristow is like the "FedEx for offshore oil rigs," flying critical personnel and equipment, that also provides "Coast Guard-style" search and rescue operations globally.
AI Analysis | Feedback
```html- Offshore Energy Aviation Services: Providing helicopter transportation for personnel and equipment to support integrated, national, and independent offshore energy operations.
- Search and Rescue (SAR) Services: Offering specialized helicopter services for commercial and public sector search and rescue missions.
- Ad Hoc Transportation Services: Delivering other non-scheduled helicopter and fixed-wing aircraft transportation solutions for various clients.
AI Analysis | Feedback
Bristow Group Inc. (VTOL) primarily provides aviation services to **other companies** in the energy sector and to **public sector entities** for search and rescue services. Given its stated focus on "integrated, national, and independent offshore energy companies," Bristow's major customers are typically large oil and gas corporations and government agencies. While Bristow's SEC filings do not consistently name individual customers accounting for a significant portion of its revenue due to the nature of its contract-based business and confidentiality, the following public companies are representative examples of the types of major offshore energy companies it serves globally: * **ExxonMobil Corporation** (NYSE: XOM) * **Shell plc** (NYSE: SHEL) * **BP p.l.c.** (NYSE: BP) * **Chevron Corporation** (NYSE: CVX) * **Equinor ASA** (NYSE: EQNR) * **Petróleo Brasileiro S.A. - Petrobras** (NYSE: PBR) * **Woodside Energy Group Ltd** (NYSE: WDS) * **Hess Corporation** (NYSE: HES) In addition to these energy companies, Bristow also serves various government and public sector entities for search and rescue operations, such as the UK Maritime and Coastguard Agency, though these are not public companies with stock symbols.AI Analysis | Feedback
Here are Bristow's major suppliers:
- Leonardo S.p.A. (BIT: LDO)
- Airbus SE (Euronext Paris: AIR)
- Lockheed Martin Corporation (NYSE: LMT)
AI Analysis | Feedback
Christopher Bradshaw
President and Chief Executive Officer
Christopher Bradshaw has served as President and Chief Executive Officer of Bristow Group Inc., and formerly Era Group Inc., since 2014. He previously held the position of Chief Financial Officer of Era Group Inc. from October 2012 to September 2015. From 2009 until 2012, Mr. Bradshaw co-founded U.S. Capital Advisors LLC, an independent financial advisory firm, where he served as Managing Partner and Chief Financial Officer. Before co-founding U.S. Capital Advisors LLC, he was an energy investment banker at UBS Securities LLC, Morgan Stanley & Co., and PaineWebber Incorporated.
Jennifer Whalen
Senior Vice President, Chief Financial Officer
Jennifer Whalen became Senior Vice President, Chief Financial Officer for Bristow Group Inc. in June 2020. Prior to this, she served as the Senior Vice President, Chief Financial Officer for Era Group Inc. starting in February 2018. Ms. Whalen was also the Company's Vice President and Chief Accounting Officer from August 2013 until June 2017, when she was appointed Vice President, Acting Chief Financial Officer. She joined the company as Controller in April 2012. From August 2007 to March 2012, she held various roles, including Director of Accounting, at nLIGHT Photonics Corporation, a high-performance laser supplier.
David Stepanek
Executive Vice President, Chief Transformation Officer
David Stepanek assumed the role of Bristow's Executive Vice President, Chief Transformation Officer in February 2023. In this position, he is responsible for leading the company's transformation by introducing Advanced Air Mobility (AAM) aircraft and expanding its core business into new regions. He previously served as Bristow's Executive Vice President, Sales and Chief Transformation Officer from April 2021 to February 2023, and as Executive Vice President, Chief Operating Officer from June 2020 until March 2021. Mr. Stepanek joined Era Group Inc. in January 2020 as Senior Vice President, Business Development.
Alan Corbett
Chief Operating Officer for Government Services
Alan Corbett was appointed Chief Operating Officer for Government Services in February 2023. In this role, he is responsible for overseeing all of Bristow's Government Services activities, including existing operations, new business development, and emerging markets, particularly within the Search and Rescue (SAR) sector. He also has responsibility for Airnorth and the Humberside airport. Before this appointment, he served as Senior Vice President for Europe, Africa, Middle East, Asia (EAMEA) and Search and Rescue from June 2020 to February 2023.
Stuart Stavley
Chief Operating Officer for Energy Services
Stuart Stavley was appointed Chief Operating Officer for Energy Services in February 2023. He is responsible for the oversight of Bristow's oil and gas operations across all global regions, as well as global operational shared services such as Safety, Standards, Supply Chain, and Fleet Management. Prior to this, he served as Senior Vice President, Operations and Fleet Management from June 2020 to February 2023, and held the same role for Era Group Inc. before that.
AI Analysis | Feedback
The key risks to Bristow Group Inc.'s business include:
-
Supply Chain Constraints: Bristow faces persistent global supply chain challenges for new aircraft and critical parts, which is identified as the biggest near-term risk. These disruptions directly impact aircraft availability and utilization rates, hindering the company's ability to fully capitalize on demand and sometimes leading to penalties.
-
Energy Market Volatility and Reliance on Offshore Energy Services: A substantial portion of Bristow's revenue, approximately 66-67%, is derived from its Offshore Energy Services segment, which is highly dependent on global energy demand and oil prices. This exposes the company to the inherent volatility of the energy market and potential downturns in offshore exploration and production activities.
-
Contract Transition Costs in Government Services: While the Government Services segment provides stable revenue and growth, the transition to new contracts, such as the Irish Coast Guard (IRCG) contract, can incur significant start-up costs. These initial expenses can negatively impact profitability in the short term, and delays in aircraft availability related to new contracts have also led to penalties.
AI Analysis | Feedback
The global energy transition away from fossil fuels, which is leading to reduced investment and activity in the offshore oil and gas industry, poses a clear emerging threat to Bristow's primary business of providing aviation services to offshore energy companies.
AI Analysis | Feedback
Bristow Group Inc. (VTOL) operates in two primary addressable markets:
-
Offshore Helicopter Services: The global offshore helicopter services market was valued at approximately USD 3.27 billion in 2024 and is projected to grow to USD 5.57 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 6.1% from 2026 to 2033. Another estimate valued the global market at USD 6.17 billion in 2025, with a projected growth to USD 10.44 billion by 2033 at a CAGR of 6.8%. North America held the largest share of this market, valued at USD 1.12 billion in 2025, and is expected to reach USD 1.141.5 million by 2032. Europe accounts for approximately 30% of the global market share. The oil and gas industry segment constituted 70.71% of the market share in 2026.
-
Search and Rescue (SAR) Helicopter Services: The global search and rescue helicopter market was valued at USD 1.91 billion in 2021 and is anticipated to reach USD 2.84 billion by 2030, with a CAGR of 4.1% from 2022 to 2030. More recent data indicates the market was valued at USD 2.6 billion in 2024 and is poised to grow to USD 3.73 billion by 2033. Another projection places the global market size at USD 2.90 billion in 2025, reaching USD 4.18 billion by 2033, with a CAGR of 4.68%. North America represented the largest revenue share in 2021, exceeding 37.30%.
AI Analysis | Feedback
Bristow Group Inc. (VTOL) is anticipated to drive future revenue growth over the next 2-3 years through several key areas:
- Expansion of Government Services Contracts: Bristow's Government Services segment is a significant growth engine, with adjusted operating income expected to double in 2026. The full-year contribution from new long-term contracts, such as the Irish Coast Guard (IRCG) search and rescue (SAR) contract and the Second-Generation Search and Rescue Aviation (UKSAR2G) program in the UK, is projected to materially boost earnings from 2026 onwards. Additionally, the company sees further growth opportunities in core government SAR and broader aviation services to government and military customers, supported by anticipated increases in defense spending.
- Increased Activity and Improved Pricing in Offshore Energy Services (OES): The company maintains a positive long-term outlook for offshore energy services, driven by favorable deepwater projects expected to attract increased upstream capital investment. Bristow anticipates a 15% increase in adjusted operating income from its offshore energy services business in 2026, primarily due to improved contract renewal terms, with global rate uplifts for leading-edge contracts averaging around 25%. Strong demand in offshore markets, particularly in regions like Brazil, Africa, and the Caribbean, coupled with a tight supply of heavy and super-medium helicopters, further supports revenue growth in this segment. New contracts, including a notable five-year agreement with a U.S.-based energy operator, are also expected to contribute by 2026.
- Fleet Modernization and Expansion: Bristow's strategic investment in new aircraft, such as the agreement for 10 AW189 super medium helicopters (with options for 10 more) for delivery between 2025 and 2028, is a key driver. These modern helicopters will enhance offshore transport and SAR capabilities, offering greater operational flexibility, superior performance, and lower operating costs, thereby driving EBITDA growth.
- Strategic Initiatives in Advanced Air Mobility (AAM): Bristow is strategically positioning itself in the emerging Advanced Air Mobility market. The company anticipates sustained revenue growth through these initiatives, as evidenced by CEO Chris Bradshaw's statement on strategic investments in AAM. A binding deposit agreement with Electra for the first EL9 aircraft deliveries further solidifies Bristow's strategic presence in the electric vertical takeoff and landing (VTOL) sector, presenting a potential avenue for future growth.
AI Analysis | Feedback
Share Repurchases
- Bristow Group Inc. authorized a share repurchase program of up to $125 million on February 26, 2025.
- Since February 2025, Bristow repurchased 123,966 shares for US$3.95 million.
- Common stock repurchases amounted to approximately $15.2 million in 2025, $4.1 million in 2024, and $2.7 million in 2023.
Capital Expenditures
- Maintenance capital expenditures were approximately $11.7 million in 2025.
- Maintenance capital expenditures were approximately $16.5 million in 2024.
- The company's investments focus on next-generation aircraft and emergency response services to broaden its customer base, support innovation, and improve long-term profitability.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 171.88 |
| Mkt Cap | 17.5 |
| Rev LTM | 4,024 |
| Op Inc LTM | 444 |
| FCF LTM | 48 |
| FCF 3Y Avg | -8 |
| CFO LTM | 491 |
| CFO 3Y Avg | 94 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.9% |
| Rev Chg 3Y Avg | 9.6% |
| Rev Chg Q | 12.4% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | 24.3% |
| Op Inc Chg 3Y Avg | 22.0% |
| Op Mgn LTM | 9.4% |
| Op Mgn 3Y Avg | 9.5% |
| QoQ Delta Op Mgn LTM | -0.6% |
| CFO/Rev LTM | 6.4% |
| CFO/Rev 3Y Avg | 5.5% |
| FCF/Rev LTM | 2.5% |
| FCF/Rev 3Y Avg | -0.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 17.5 |
| P/S | 1.7 |
| P/Op Inc | 14.9 |
| P/EBIT | 16.2 |
| P/E | 26.3 |
| P/CFO | 13.6 |
| Total Yield | 3.8% |
| Dividend Yield | 0.2% |
| FCF Yield 3Y Avg | -1.4% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.6% |
| 3M Rtn | -12.6% |
| 6M Rtn | 19.8% |
| 12M Rtn | 27.0% |
| 3Y Rtn | 54.4% |
| 1M Excs Rtn | -2.6% |
| 3M Excs Rtn | -22.8% |
| 6M Excs Rtn | 10.7% |
| 12M Excs Rtn | -0.3% |
| 3Y Excs Rtn | -32.7% |
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Offshore energy services | 597 | 624 | ||
| Government services | 434 | 427 | ||
| Cash and cash equivalents | 248 | 180 | ||
| Construction-in-progress | 244 | 99 | ||
| Accounts receivable, net | 212 | 235 | ||
| Other assets | 143 | 138 | ||
| Inventories | 115 | 100 | ||
| Other Services | 63 | 61 | ||
| Prepaid expenses and other current assets | 42 | 45 | ||
| Investment in unconsolidated affiliates | 22 | 20 | ||
| Restricted cash | 4 | 3 | ||
| Corporate | 3 | 4 | ||
| Total | 2,125 | 1,937 |
Price Behavior
| Market Price | $41.64 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 01/22/2013 | |
| Distance from 52W High | -16.5% | |
| 50 Days | 200 Days | |
| DMA Price | $45.86 | $41.09 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -9.2% | 1.3% |
| 3M | 1YR | |
| Volatility | 34.5% | 33.4% |
| Downside Capture | 93.25 | 57.85 |
| Upside Capture | 10.62 | 78.87 |
| Correlation (SPY) | 18.7% | 24.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.61 | 0.76 | 0.74 | 0.77 | 0.79 | 1.02 |
| Up Beta | 0.83 | 0.89 | 0.86 | 0.81 | 0.97 | 1.03 |
| Down Beta | 0.79 | 0.71 | 1.05 | 0.77 | 0.79 | 1.25 |
| Up Capture | 52% | 71% | 78% | 101% | 86% | 85% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 12 | 22 | 33 | 68 | 137 | 388 |
| Down Capture | -88% | 75% | 42% | 56% | 53% | 94% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 21 | 30 | 56 | 113 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VTOL | |
|---|---|---|---|---|
| VTOL | 41.1% | 33.3% | 1.07 | - |
| Sector ETF (XLE) | 42.5% | 20.5% | 1.62 | 39.0% |
| Equity (SPY) | 30.3% | 11.8% | 1.94 | 23.9% |
| Gold (GLD) | 37.5% | 26.7% | 1.17 | 13.3% |
| Commodities (DBC) | 39.6% | 18.8% | 1.63 | 21.6% |
| Real Estate (VNQ) | 12.5% | 13.1% | 0.64 | 17.0% |
| Bitcoin (BTCUSD) | -31.8% | 41.6% | -0.81 | 10.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VTOL | |
|---|---|---|---|---|
| VTOL | 8.2% | 40.8% | 0.31 | - |
| Sector ETF (XLE) | 21.0% | 26.0% | 0.73 | 58.9% |
| Equity (SPY) | 14.3% | 17.0% | 0.66 | 43.8% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 10.6% |
| Commodities (DBC) | 10.2% | 19.4% | 0.41 | 38.6% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 36.8% |
| Bitcoin (BTCUSD) | 14.6% | 54.6% | 0.46 | 18.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VTOL | |
|---|---|---|---|---|
| VTOL | 16.1% | 83.6% | 0.42 | - |
| Sector ETF (XLE) | 9.9% | 29.5% | 0.37 | 35.4% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 27.1% |
| Gold (GLD) | 13.3% | 16.0% | 0.69 | 3.4% |
| Commodities (DBC) | 7.3% | 17.9% | 0.33 | 22.5% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 27.0% |
| Bitcoin (BTCUSD) | 67.0% | 66.9% | 1.06 | 7.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 5/29/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | -11.7% | -13.5% | |
| 2/25/2026 | 2.8% | -3.9% | -0.6% |
| 11/4/2025 | -6.1% | -6.7% | -11.2% |
| 8/5/2025 | 8.9% | 8.9% | 6.4% |
| 5/6/2025 | -5.8% | 2.5% | 0.5% |
| 2/26/2025 | 9.2% | -6.1% | -6.5% |
| 11/5/2024 | 9.4% | 9.3% | 4.1% |
| 8/6/2024 | 11.7% | 9.5% | 6.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 12 | 14 |
| # Negative | 12 | 13 | 10 |
| Median Positive | 4.7% | 8.4% | 6.4% |
| Median Negative | -6.0% | -6.1% | -9.1% |
| Max Positive | 11.7% | 11.6% | 35.8% |
| Max Negative | -11.7% | -13.5% | -26.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 03/06/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/09/2023 | 10-KT |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
Recent Forward Guidance
Updated 5/28/2026Latest: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.58 Bil | 1.64 Bil | 1.69 Bil | 0 | Affirmed | Guidance: 1.64 Bil for 2026 | |
| 2026 Adjusted EBITDA | 295.00 Mil | 310.00 Mil | 325.00 Mil | 0 | Affirmed | Guidance: 310.00 Mil for 2026 | |
| 2026 Cash interest | 40.00 Mil | ||||||
| 2026 Cash taxes | 25.00 Mil | 27.50 Mil | 30.00 Mil | ||||
| 2026 Maintenance capital expenditures | 20.00 Mil | 22.50 Mil | 25.00 Mil | ||||
Prior: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.58 Bil | 1.64 Bil | 1.69 Bil | 0 | Affirmed | Guidance: 1.64 Bil for 2026 | |
| 2026 Adjusted EBITDA | 295.00 Mil | 310.00 Mil | 325.00 Mil | 0 | Affirmed | Guidance: 310.00 Mil for 2026 | |
| 2026 Adjusted Free Cash Flow | 200.00 Mil | Higher New | |||||
| 2026 Adjusted Operating Income | 280.00 Mil | 295.00 Mil | 310.00 Mil | Higher New | |||
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bradshaw, Christopher Scott | President and CEO | Direct | Sell | 3262026 | 45.47 | 29,625 | 1,347,049 | 13,774,591 | Form |
| 2 | Brass, Lorin L | Direct | Sell | 3242026 | 45.00 | 1,000 | 45,000 | 785,475 | Form | |
| 3 | Miller, Maryanne | Direct | Sell | 3052026 | 44.90 | 2,200 | 98,769 | 909,214 | Form | |
| 4 | Whalen, Jennifer Dawn | SVP, CFO | Direct | Sell | 3032026 | 46.90 | 26,667 | 1,250,620 | 5,076,250 | Form |
| 5 | Bradshaw, Christopher Scott | President and CEO | Direct | Sell | 3032026 | 47.51 | 68,340 | 3,246,601 | 17,669,985 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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