HORNBECK OFFSHORE SERVICES, INC. HLX
Helix Energy Solutions Group, Inc. (together with its subsidiaries, unless context requires otherwise, "Helix," the "Company," "we," "us" or "our") was incorporated in 1979 and in 1983 was re-incorporated in the state of Minnesota. We are an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. See "Our Operations" below for additional information regarding business operations.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.29B | $1.36B | $1.29B | $873.1M | $674.7M | $733.6M | $751.9M | $739.8M | $581.4M | $487.6M |
| Cost of revenue | $1.13B | $1.14B | $1.09B | $822.5M | $659.3M | $653.6M | $614.1M | $618.1M | $519.2M | $441.1M |
| Gross profit | $159.1M | $219.6M | $200.4M | $50.6M | $15.4M | $79.9M | $137.8M | $121.7M | $62.2M | $46.5M |
| SG&A | $75.9M | $91.7M | $94.4M | $76.8M | $63.4M | $61.1M | $69.8M | $70.3M | $63.3M | $65.9M |
| Operating income | $65.1M | $127.4M | $63.5M | -$44.9M | -$48.7M | $13.0M | $68.0M | $51.5M | -$1.1M | -$63.2M |
| Interest expense | $33.0M | $33.9M | $21.4M | $20.2M | $23.5M | $30.5M | $31.2M | $32.6M | $38.3M | $45.1M |
| Pre-tax income | $42.5M | $82.1M | $7.5M | -$75.2M | -$70.6M | $1.4M | $65.6M | $31.0M | -$20.4M | -$93.9M |
| Income tax | $11.7M | $26.4M | $18.4M | $12.6M | $9.0M | $18.7M | $7.9M | $2.4M | $50.4M | $12.5M |
| Net income | $30.8M | $55.6M | -$10.8M | -$87.8M | -$61.5M | $22.2M | $57.9M | $28.6M | $30.1M | -$81.4M |
| EPS, basic | 0.21 | 0.37 | -0.07 | -0.58 | -0.41 | 0.13 | 0.39 | 0.19 | 0.20 | -0.73 |
| EPS, diluted | 0.21 | 0.36 | -0.07 | -0.58 | -0.41 | 0.13 | 0.38 | 0.19 | 0.20 | -0.73 |
| Shares, diluted (wtd. avg.) | $148.5M | $154.7M | $150.9M | $151.3M | $150.1M | $149.9M | $149.6M | $146.8M | $145.3M | $111.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $445.2M | $368.0M | $332.2M | $189.1M | $327.1M | $291.3M | $262.6M | $279.5M | $266.6M | $356.6M |
| Receivables | $303.9M | $258.6M | $280.4M | $212.8M | $144.1M | $132.2M | $125.5M | $67.9M | $113.3M | $101.8M |
| Total current assets | $825.0M | $709.7M | $697.8M | $460.6M | $529.5M | $525.6M | $438.5M | $450.9M | $451.6M | $522.8M |
| Property, plant and equipment | $1.36B | $1.44B | $1.57B | $1.64B | $1.66B | $1.78B | $1.87B | $1.83B | $1.81B | $1.65B |
| Goodwill | — | — | — | — | — | $0 | $7.2M | $0 | — | $0 |
| Other intangibles | $3.3M | $3.6M | $4.1M | $4.5M | $3.5M | $3.8M | $3.8M | $1.4M | — | — |
| Total assets | $2.62B | $2.60B | $2.56B | $2.39B | $2.33B | $2.50B | $2.60B | $2.35B | $2.36B | $2.25B |
| Accounts payable | $134.3M | $144.8M | $134.6M | $135.3M | $88.0M | $50.0M | $69.1M | $54.8M | $81.3M | $60.2M |
| Short-term debt | $9.6M | $9.2M | $48.3M | $38.2M | $42.9M | $90.7M | $99.7M | $47.3M | $109.9M | $67.6M |
| Total current liabilities | $299.7M | $304.4M | $448.6M | $298.0M | $278.3M | $279.3M | $285.0M | $191.5M | $265.6M | $186.4M |
| Long-term debt | $298.4M | $306.0M | $313.4M | $225.9M | $262.1M | $258.9M | $306.1M | $393.1M | $385.8M | $558.4M |
| Total liabilities | $1.04B | $1.08B | $1.06B | $872.6M | $678.6M | $753.9M | $893.7M | $730.0M | $795.4M | $965.1M |
| Retained earnings | $398.9M | $368.1M | $312.4M | $323.3M | $411.1M | $464.5M | $445.4M | $383.0M | $352.9M | $322.9M |
| Total equity | $1.58B | $1.52B | $1.50B | $1.52B | $1.65B | $1.74B | $1.70B | $1.62B | $1.57B | $1.28B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $136.7M | $186.0M | $152.5M | $51.1M | $140.1M | $98.8M | $169.7M | $196.7M | $51.6M | $38.7M |
| Depreciation and amortisation | $187.4M | $173.3M | $164.1M | $142.7M | $141.5M | $133.7M | $112.7M | $110.5M | $108.7M | $114.2M |
| Stock-based compensation | $6.6M | $7.3M | $6.5M | $7.5M | $7.7M | $8.6M | $11.5M | $9.9M | $10.9M | $5.9M |
| Capital expenditure | $16.3M | $23.3M | $19.6M | $33.5M | $8.3M | $20.2M | $140.9M | $137.1M | $231.1M | $186.5M |
| Investing cash flow | -$16.3M | -$22.8M | -$18.7M | -$138.3M | -$8.3M | -$19.3M | -$142.4M | -$136.0M | -$221.1M | -$147.1M |
| Financing cash flow | -$45.1M | -$125.3M | $25.1M | -$44.8M | -$96.0M | -$52.6M | -$45.8M | -$46.2M | $77.5M | -$25.5M |
| Buybacks | — | $29.6M | $12.0M | — | — | — | — | — | — | $341.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000866829-26-000008.
Others in SIC 1389
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|---|---|---|---|---|
| SLB | SLB LIMITED/NV | $85.35B | 24.5x | -1.6% |
| HAL | HALLIBURTON CO | $30.88B | — | -3.3% |
| OII | OCEANEERING INTERNATIONAL INC | $5.12B | 14.7x | 4.1% |
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| LBRT | Liberty Energy Inc. | $3.36B | 23.1x | -7.2% |
| WBI | WaterBridge Infrastructure LLC | $1.57B | — | 66.2% |
| RES | RPC INC | $1.44B | 43.3x | 15.0% |
| PUMP | ProPetro Holding Corp. | $1.41B | 1,147.0x | -12.1% |