W&T Offshore Inc. (WTI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.03	$0.02	-33.3%	—	$162.6M	—
Q4 25	-$0.12	-$0.14	-16.7%	—	$121.7M	—
Q3 25	-$0.07	-$0.05	+28.6%	—	$127.5M	—
Q2 25	-$0.17	-$0.08	+52.9%	—	$122.4M	—
Q1 25	-$0.15	-$0.13	+13.3%	—	$129.9M	—
Q4 24	-$0.19	-$0.18	+5.3%	—	$120.3M	—
Q3 24	-$0.22	-$0.17	+22.7%	—	$121.4M	—
Q2 24	-$0.05	-$0.05	0.0%	—	$142.8M	—
Q1 24	-$0.03	-$0.05	-66.7%	—	$140.8M	—
Q4 23	$0.01	-$0.06	-700.0%	—	$132.3M	—
Q3 23	$0.05	$0.01	-80.0%	—	$142.4M	—
Q2 23	-$0.06	-$0.08	-33.3%	—	$126.2M	—
Q1 23	-$0.01	-$0.02	-100.0%	—	$131.7M	—
Q4 22	$0.06	$0.3	+400.0%	—	$189.7M	—
Q3 22	$0.45	$0.46	+2.2%	—	$266.5M	—
Q2 22	$0.37	$1.32	+256.8%	—	$273.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.01	—	—	$501.5M	—
FY24	—	-$0.59	—	—	$525.3M	—
FY23	—	$0.11	—	—	$532.7M	—
FY22	—	$1.61	—	—	$921M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$400M	$487.1M	$580.7M	$534.9M	$346.6M	$558M	$921M	$532.7M	$525.3M	$501.5M
YoY change	-21.1%	+21.8%	+19.2%	-7.89%	-35.2%	+61%	+65.1%	-42.2%	-1.39%	-4.53%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	400M	487.1M	580.7M	534.9M	346.6M	558M	921M	532.7M	525.3M	501.5M
Cost of revenue	218.9M	160.7M	155.6M	157.5M	118.7M	118.4M	142.3M	140.9M	171.2M	142.1M
Gross profit	181.1M	326.4M	425.1M	377.4M	227.9M	439.6M	778.7M	391.7M	354.1M	359.3M
Gross margin	45.3%	67%	73.2%	70.6%	65.8%	78.8%	84.6%	73.5%	67.4%	71.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	212.1M	203.5M	213.4M	239.4M	204.6M	227M	298.2M	333.2M	363.9M	378.7M
Operating expenses	229.7M	220.7M	231.8M	258.8M	227.1M	249.9M	324.7M	362.2M	396.3M	412.1M
Operating income	-48.6M	105.8M	193.2M	118.5M	801K	189.7M	454.1M	29.5M	-42.2M	-52.8M
Operating margin	-12.1%	21.7%	33.3%	22.2%	0.23%	34%	49.3%	5.54%	-8.03%	-10.5%
Non-operating income, net	-159.4M	6.9M	104.8M	-60.1M	68.3M	-169.1M	-99.8M	49.1M	-14.5M	-9.8M
Pretax income	-292.4M	67.1M	249.4M	-1.1M	7.6M	-49.5M	284.8M	33.9M	-97.1M	-99.1M
Income tax	-43.4M	-12.6M	535K	-75.2M	-30.2M	-8.1M	53.7M	18.3M	-10M	50.9M
Net income	-249M	79.7M	248.8M	74.1M	37.8M	-41.5M	231.1M	15.6M	-87.1M	-150.1M
Net margin	-62.3%	16.4%	42.8%	13.9%	10.9%	-7.43%	25.1%	2.93%	-16.6%	-29.9%
EBITDA	161.7M	256.3M	347M	266.8M	118.1M	309.3M	573.4M	167.6M	115.1M	88.6M
EPS	-2.6	0.56	1.72	0.52	0.26	-0.29	1.61	0.11	-0.59	-1.01
Diluted EPS	-2.6	0.56	1.72	0.52	0.26	-0.29	1.59	0.11	-0.59	-1.01

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	142.4M	132.3M	140.8M	142.8M	121.4M	120.3M	129.9M	122.4M	127.5M	121.7M	150M	162.6M
Cost of revenue	36.9M	40.3M	41.5M	45.3M	40.4M	44.1M	38.5M	31.9M	34.4M	37.3M	35.9M	32.1M
Gross profit	105.5M	92.1M	99.3M	97.5M	81M	76.2M	91.3M	90.4M	93.1M	84.5M	114.1M	130.5M
Gross margin	74.1%	69.6%	70.5%	68.3%	66.8%	63.3%	70.3%	73.9%	73%	69.4%	76.1%	80.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	81.8M	82.9M	91.3M	95.3M	92.1M	85.1M	91.2M	94.6M	97.7M	95.2M	90.9M	99.1M
Operating expenses	88.2M	90.3M	99.3M	103.7M	100M	93.2M	99.6M	103.3M	105.7M	103.6M	99.5M	107.8M
Operating income	17.3M	1.8M	-4K	-6.2M	-19M	-17M	-8.2M	-12.9M	-12.6M	-19.1M	14.6M	22.6M
Operating margin	12.1%	1.35%	-0%	-4.37%	-15.6%	-14.1%	-6.35%	-10.5%	-9.89%	-15.7%	9.76%	13.9%
Non-operating income, net	-436K	92.5M	-353K	-3.6M	-12.5M	2M	-17.5M	-1.4M	6.1M	2.9M	-25.3M	-2.2M
Pretax income	6.9M	1.5M	-10.4M	-20M	-41.5M	-25.2M	-35.2M	-23.3M	-15.5M	-25.2M	-19.9M	11.2M
Income tax	4.8M	1.9M	1M	-4.6M	-4.5M	-1.8M	-4.6M	-2.4M	56M	1.9M	2.6M	-1.4M
Net income	2.1M	-443K	-11.5M	-15.4M	-36.9M	-23.4M	-30.6M	-20.9M	-71.5M	-27.1M	-22.5M	12.6M
Net margin	1.51%	-0.33%	-8.15%	-10.8%	-30.4%	-19.4%	-23.5%	-17.1%	-56.1%	-22.3%	-15%	7.72%
EBITDA	52M	-44.1M	36.7M	37.6M	7.4M	33.5M	33.4M	8.8M	26M	20.4M	49.6M	56.7M
EPS	0.01	-0	-0.08	-0.1	-0.25	-0.16	-0.21	-0.14	-0.48	-0.18	-0.15	0.08
Diluted EPS	0.01	-0	-0.08	-0.1	-0.25	-0.16	-0.21	-0.14	-0.48	-0.18	-0.15	0.08

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	572.7M	781.6M	307.3M	459.5M	798.7M	477.5M	244.2M	241.6M	540.4M
Enterprise value	—	—	1.2B	1.5B	900.6M	957M	1B	707.1M	530M	464.6M	753.7M
Shares outstanding	95.6M	137.6M	139M	140.6M	141.6M	142.3M	143.1M	146.5M	147.1M	148.2M	148.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	2.3	10.6	8.13	—	3.46	30.6	—	—	21.2
P/S	—	—	0.99	1.46	0.89	0.82	0.87	0.9	0.46	0.48	0.96
P/B	—	—	-1.76	-3.13	-1.48	-1.86	104.6	15.3	-4.65	-1.21	-2.69
EV/EBITDA	—	—	3.38	5.53	7.63	3.09	1.82	4.22	4.6	5.25	5.06
EV/Sales	—	—	2.02	2.76	2.6	1.71	1.13	1.33	1.01	0.93	1.34
Earnings yield	—	—	43.4%	9.48%	12.3%	—	28.9%	3.27%	—	—	4.72%
FCF yield	—	—	37.4%	-12%	28.4%	22%	30.8%	7.17%	-24%	11.5%	22.9%
PEG	—	—	—	—	—	—	—	—	—	—	-0.13

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	45.3%	67%	73.2%	70.6%	65.8%	78.8%	84.6%	73.5%	67.4%	71.7%	80.2%
Operating margin	-12.1%	21.7%	33.3%	22.2%	0.23%	34%	49.3%	5.54%	-8.03%	-10.5%	13.9%
Net margin	-62.3%	16.4%	42.8%	13.9%	10.9%	-7.43%	25.1%	2.93%	-16.6%	-29.9%	-19.3%
ROE	37.8%	-13.9%	-76.6%	-29.7%	-18.1%	16.8%	3K%	50%	165.7%	75.1%	75.1%
ROA	-30%	8.78%	29.3%	7.38%	4.02%	-3.48%	16.1%	1.4%	-7.93%	-15.7%	0.35%
ROIC	-16.7%	33.1%	70%	26.6%	0.21%	75.8%	146.3%	5.2%	-18.1%	-226.6%	85.4%
Return on tangible assets	-30%	8.78%	29.3%	7.38%	4.02%	-3.48%	16.1%	1.4%	-7.93%	-15.7%	-11.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.94	1.13	1.21	0.75	0.93	1.1	0.72	1.22	0.89	1.02	1.17
Quick ratio	0.94	1.13	1.21	0.75	0.93	1.1	0.72	1.22	0.89	1.02	1.17
Debt / equity	-1.55	-1.73	-1.95	-2.91	-3.06	-3.01	92.4	12.9	-7.51	-1.82	-0.02
Debt / assets	1.23	1.09	0.75	0.72	0.68	0.62	0.49	0.36	0.36	0.38	0.37
Net debt / EBITDA	5.88	3.48	1.73	2.6	5.02	1.61	0.43	1.37	2.48	2.52	1.33
Interest coverage	-2.47	2.47	6.13	0.98	1.12	0.29	5.1	1.76	-1.4	-1.72	-0.36
Effective tax rate	0%	0%	0.21%	0%	0%	0%	18.8%	54%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.18	3.54	4.18	3.8	2.45	3.92	6.43	3.64	3.57	3.38	3.77
EPS (basic)	-2.6	0.56	1.72	0.52	0.26	-0.29	1.61	0.11	-0.59	-1.01	-1.01
EPS (diluted)	-2.6	0.56	1.72	0.52	0.26	-0.29	1.59	0.11	-0.59	-1.01	-0.73
Book value per share	-6.89	-4.17	-2.34	-1.77	-1.47	-1.74	0.05	0.21	-0.36	-1.35	-1.49
FCF per share	-0.73	0.38	1.54	-0.67	0.62	0.71	1.72	0.23	-0.4	0.19	0.24
Cash per share	0.73	0.72	0.24	0.23	0.31	1.73	3.22	1.18	0.74	0.95	1
Capex per share	0.88	0.78	0.77	2.32	0.15	0.23	0.65	0.55	0.8	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	21%	22%	18.5%	60.9%	6.08%	5.86%	10.1%	15.2%	22.5%	—	—
Capex / operating cash flow	-62.8%	63.7%	28.9%	271.3%	17.2%	-39.6%	39.8%	50%	183%	—	—
Payout ratio	0%	0%	0%	0%	—	0%	0%	9.4%	-6.77%	-4%	9.09%
Dividend yield	—	—	0%	0%	—	0%	0%	0.31%	2.42%	2.49%	1.14%

Yield

1.14%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.01

ex-dividend Aug 19, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 19, 2026	$0.01
May 21, 2026	$0.01
Mar 19, 2026	$0.01
Nov 19, 2025	$0.01

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$142.4M	$132.3M	$140.8M	$142.8M	$121.4M	$120.3M	$129.9M	$122.4M	$127.5M	$121.7M	$150M	$162.6M
YoY change	-46.6%	-30.2%	+6.88%	+13.1%	-14.8%	-9.06%	-7.76%	-14.3%	+5.06%	+1.14%	+15.5%	+32.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	70.2M	99.1M	33.3M	32.4M	43.7M	245.8M	461.4M	173.3M	109M	140.6M
Receivables	43.1M	45.4M	47.8M	57.4M	38.8M	54.9M	66.1M	52.1M	63.6M	59.6M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	191.7M	190.7M	226.2M	141.8M	107.2M	358.3M	570.3M	265M	218.5M	239.3M
Property, plant & equipment	547.1M	579M	-7.7B	-7.8B	-7.9B	-8B	-8.1B	-8.2B	-8.3B	-8.4B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	829.7M	907.6M	848.9M	1B	940.6M	1.2B	1.4B	1.1B	1.1B	955.8M
Accounts payable	81M	79.7M	82.1M	102.3M	41.3M	67.4M	65.2M	78.9M	83.6M	98.4M
Short-term debt	8.3M	22.9M	—	2.7M	394K	44.1M	583.9M	30.8M	28.8M	10.2M
Total current liabilities	203M	168.3M	186.3M	190M	115M	324.4M	792.3M	216.9M	246.1M	234.3M
Long-term debt	1B	969.1M	633.5M	724M	636.6M	699.2M	121.7M	372M	365.9M	353.4M
Total liabilities	1.5B	1.5B	1.2B	1.3B	1.1B	1.4B	1.4B	1.1B	1.2B	1.2B
Shareholders' equity	-659M	-573.5M	-324.8M	-249.4M	-208.3M	-247.2M	7.6M	31.2M	-52.6M	-199.8M
Total debt	1B	992.1M	633.5M	726.7M	637M	743.2M	705.6M	402.9M	394.7M	363.6M
Net debt	950.5M	893M	600.2M	694.2M	593.3M	497.4M	244.2M	229.5M	285.7M	223.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	149M	173.3M	94.8M	123.4M	126.5M	109M	105.9M	120.7M	124.8M	140.6M	130.9M	150.7M
Receivables	48.5M	52.1M	67M	71.5M	52M	63.6M	65M	58.2M	57.3M	59.6M	72.4M	67.1M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	248.7M	265M	207.7M	247.9M	226.4M	218.5M	221.9M	237.9M	229.3M	239.3M	249.4M	262.8M
Property, plant & equipment	-8.1B	-8.2B	—	-8.3B	-8.3B	-8.3B	-8.4B	-8.4B	-8.4B	-8.4B	-8.5B	-8.5B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1B	1B	960.6M	955.8M	959.2M	959.5M
Accounts payable	80.4M	78.9M	76M	89.1M	86.9M	83.6M	78M	87.2M	89.4M	98.4M	90.6M	88.8M
Short-term debt	30.9M	30.8M	8.5M	16.4M	22.5M	28.8M	2.3M	2.3M	10.3M	10.2M	10.1M	10M
Total current liabilities	215.7M	216.9M	192M	234.4M	231.6M	246.1M	187.9M	200.6M	208.5M	234.3M	250.6M	224.4M
Long-term debt	378.8M	372M	384.2M	377M	371.6M	365.9M	349.5M	349.5M	341.8M	353.4M	342.9M	343.4M
Total liabilities	1.1B	1.1B	1.1B	1.1B	1.2B	1.2B	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B
Shareholders' equity	30M	31.2M	20.8M	5M	-31.5M	-52.6M	-82.8M	-102.7M	-172.5M	-199.8M	-221.8M	-196.2M
Total debt	409.7M	402.9M	392.7M	393.4M	394.1M	394.7M	351.7M	351.8M	352.2M	363.6M	353M	353.4M
Net debt	260.7M	229.5M	297.9M	270M	267.5M	285.7M	245.8M	231.1M	227.4M	223.1M	222.1M	202.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-249M	79.7M	248.8M	74.1M	37.8M	-41.5M	231.1M	15.6M	-87.1M	-150.1M
Depreciation & amortization	211.6M	155.7M	149.9M	148.5M	120.3M	113.4M	133.6M	143.7M	175.4M	149.8M
Stock-based compensation	11M	7.2M	3.5M	3.7M	4M	3.4M	7.9M	10.4M	10.2M	12.2M
Change in working capital	-65.9M	-8.1M	70.5M	-50.1M	-10.2M	-7.2M	-27.1M	9.8M	6.8M	28.6M
Operating cash flow	-133.7M	168.2M	372.2M	120.1M	122.8M	-82.6M	234.1M	162.1M	64.6M	77.2M
Capital expenditure	-83.9M	-107.1M	-107.5M	-325.9M	-21.1M	-32.7M	-93.2M	-81.1M	-118.2M	—
Investing cash flow	-82.4M	-83.2M	-66.4M	-313.8M	-47.6M	-27.4M	-95.1M	-81.6M	-118.2M	58.5M
Dividends paid	0	0	0	0	—	0	0	-1.5M	-5.9M	-6M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-287M	-16.1M	-351.4M	14.7M	-99.6M	20.3M	-28.9M	-321.7M	-8.6M	-69M
Net change in cash	-503M	68.8M	-45.6M	-179M	-24.5M	-89.8M	110.2M	-241.3M	-62.2M	66.7M
Free cash flow	-69.7M	52.3M	214.2M	-93.7M	87.4M	100.9M	246.3M	34.3M	-58.6M	27.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	2.1M	-443K	-11.5M	-15.4M	-36.9M	-23.4M	-30.6M	-20.9M	-71.5M	-27.1M	-22.5M	12.6M
Depreciation & amortization	36.6M	41M	41.9M	45.1M	42.1M	46.4M	41.3M	35.1M	36.6M	36.8M	35.8M	34.4M
Stock-based compensation	3.3M	3.1M	3M	1.4M	2M	3.8M	2.1M	2.9M	3.5M	3.7M	7.4M	11.1M
Change in working capital	-7.6M	-5M	-18.2M	-7.1M	21.9M	-17.1M	-20.8M	2M	3.9M	1.3M	-23.6M	7.3M
Operating cash flow	24M	31.9M	16.1M	14.8M	18.4M	-12.1M	-21.5M	28M	26.5M	25.9M	2.6M	33.3M
Capital expenditure	-44.9M	-337K	-87.6M	-6.8M	-9.6M	-14.1M	4.8M	—	—	—	—	—
Investing cash flow	-41.3M	-2.2M	-87.6M	-6.8M	-9.6M	-14.1M	63.3M	0	0	0	—	—
Dividends paid	0	—	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.6M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-7.8M	-7.7M	-2.5M	-2.1M	-2M	-1.9M	-63.1M	-2.4M	-1.6M	-1.9M	-1.9M	-4.9M
Net change in cash	-25M	22.1M	-74.1M	5.9M	6.8M	-28.1M	-21.4M	25.6M	24.9M	24M	629K	28.4M
Free cash flow	-14.9M	35.3M	-76M	30.7M	5.1M	-18.5M	-10.4M	17.2M	4.7M	16.2M	-7.8M	24.7M

W&T Offshore Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement