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Tidewater vs Viking: revenue, profit, margins and growth compared

Tidewater brought in $1.4B of revenue in fiscal 2025, Viking $6.5B in fiscal 2025. Revenue changed by +0.5% at Tidewater and +21.9% at Viking on the year before, so Viking grew faster. Tidewater kept 24.7% of its revenue as net profit, Viking 17.7%.

Side by side, latest fiscal year

TDWVIK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.4B$6.5B
Revenue growth+0.5%+21.9%
Net income$334.7M$1.1B
Net margin24.7%17.7%
Free cash flow$353.3Mn/a
Free cash flow margin26.1%n/a
Earnings per share (diluted)$6.64$2.57
Cash$578.8M$3.8B
Debt$670.1M$5.7B
Price to earnings12.5n/a
Market value$4.1B$35.4B
Dividend yieldn/an/a
Rank by revenue in sector#435 of 1065 · Consumer discretionary#177 of 1065 · Consumer discretionary

Over the years

Revenue
TDW FY2018: $406.5MTDW FY2019: $486.5MTDW FY2020: $397MTDW FY2021: $371MTDW FY2022: $647.7MTDW FY2023: $1BTDW FY2024: $1.3BTDW FY2025: $1.4BVIK FY2022: $3.2BVIK FY2024: $4.7BVIK FY2024: $5.3BVIK FY2025: $6.5BFY18FY19FY20FY21FY22FY23FY24FY25
TDW $1.4BVIK $6.5B
Net income
TDW FY2018: -$171.5MTDW FY2019: -$141.7MTDW FY2020: -$196.2MTDW FY2021: -$129MTDW FY2022: -$21.7MTDW FY2023: $97.2MTDW FY2024: $180.7MTDW FY2025: $334.7MVIK FY2022: $414.7MVIK FY2024: -$1.9BVIK FY2024: $152.3MVIK FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
TDW $334.7MVIK $1.1B
Net margin
TDW FY2018: -42.2%TDW FY2019: -29.1%TDW FY2020: -49.4%TDW FY2021: -34.8%TDW FY2022: -3.4%TDW FY2023: 9.6%TDW FY2024: 13.4%TDW FY2025: 24.7%VIK FY2022: 13.1%VIK FY2024: -39.3%VIK FY2024: 2.9%VIK FY2025: 17.7%FY18FY19FY20FY21FY22FY23FY24FY25
TDW 24.7%VIK 17.7%
Revenue growth
TDW FY2019: +19.7%TDW FY2020: -18.4%TDW FY2021: -6.5%TDW FY2022: +74.6%TDW FY2023: +55.9%TDW FY2024: +33.3%TDW FY2025: +0.5%VIK FY2024: +48.3%VIK FY2024: +13.2%VIK FY2025: +21.9%FY19FY20FY21FY22FY23FY24FY25
TDW +0.5%VIK +21.9%
Free cash flow
TDW FY2018: -$17.5MTDW FY2019: -$49.4MTDW FY2020: -$10.9MTDW FY2021: $6.1MTDW FY2022: $23.6MTDW FY2023: $72.6MTDW FY2024: $254.9MTDW FY2025: $353.3MFY18FY19FY20FY21FY22FY23FY24FY25
TDW $353.3MVIK

Fiscal years as each company reports them; the two may end in different months.

Questions about Tidewater and Viking

Which is bigger by revenue, Tidewater or Viking?

Viking is bigger by revenue: $6.5B in fiscal 2025, against $1.4B for Tidewater in fiscal 2025.

Which keeps more of its revenue as profit, Tidewater or Viking?

Tidewater had a net margin of 24.7% in fiscal 2025; Viking had 17.7% in fiscal 2025.

Which grew revenue faster, Tidewater or Viking?

In their latest fiscal years revenue changed by +0.5% at Tidewater and +21.9% at Viking.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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