A Business at a Glance
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HELIX ENERGY SOLUTIONS GROUP INC
HLX
$1.5B
Mkt Cap
$9.91
+2.16%
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a current P/E ratio of 47.2, compared to its historical median P/E of 29.2. The stock is currently considered Expensive based on its historical valuation range.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a 5-year average return on invested capital (ROIC) of 0.5%. This is below average and may indicate limited pricing power.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a market capitalization of $1.5B. It is classified as a small-cap stock.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) does not currently pay a regular dividend.
Based on historical P/E analysis, HELIX ENERGY SOLUTIONS GROUP INC (HLX) appears expensive. The current P/E of 47.2 is 61% above its historical median of 29.2. The estimated fair value CAGR (P/E method) is -3.4%.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) operates in the Oil & Gas Field Services, Nec industry, within the Energy sector.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Item 1. Business 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. Our principal executive offices are located at 3505 West Sam Houston Parkway North, Suite 400, Houston, Texas 77043; our phone number is 281-618-0400. Our common stock trades on the New York Stock Exchange (“NYSE”) under the ticker symbol “HLX.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.4B | 1.3B | 873M | 675M |
| Net Income | 14M | 31M | 56M | -11M | -88M | -62M |
| EPS | $0.10 | $0.21 | $0.36 | $-0.07 | $-0.58 | $-0.41 |
| Free Cash Flow | 167M | 120M | 163M | 133M | 18M | 132M |
| ROIC | 2.1% | 2.9% | 5.2% | 2.3% | -4.8% | -3.2% |
| Gross Margin | 10.8% | 12.3% | 16.2% | 15.5% | 5.8% | 2.3% |
| Debt/Equity | 0.20 | 0.40 | 0.44 | 0.36 | 0.31 | 0.25 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 44M | 65M | 127M | 64M | -45M | -49M |
| Operating Margin | 3.4% | 5.0% | 9.4% | 4.9% | -5.1% | -7.2% |
| ROE | 0.9% | 2.0% | 3.7% | -0.7% | -5.5% | -3.6% |
| Shares Outstanding | 147M | 147M | 154M | 155M | 151M | 151M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.1B | 696M | 488M | 581M | 740M | 752M | 734M | 675M | 873M | 1.3B | 1.4B | 1.3B | 1.3B |
| Gross Margin | 31.1% | -33.6% | 9.5% | 10.7% | 16.4% | 18.3% | 10.9% | 2.3% | 5.8% | 15.5% | 16.2% | 12.3% | 10.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 93M | 57M | 66M | 63M | 70M | 70M | 61M | 63M | 77M | 94M | 92M | 76M | 79M |
| EBIT | 262M | -307M | -63M | N/A | 52M | 68M | 13M | -49M | -45M | 64M | 127M | 65M | 44M |
| Op. Margin | 23.6% | -44.2% | -13.0% | N/A | 7.0% | 9.0% | 1.8% | -7.2% | -5.1% | 4.9% | 9.4% | 5.0% | 3.4% |
| Net Income | 195M | -377M | -81M | 30M | 28M | 57M | 20M | -62M | -88M | -11M | 56M | 31M | 14M |
| Net Margin | 17.6% | -54.2% | -16.7% | 5.2% | 3.8% | 7.6% | 2.7% | -9.2% | -10.1% | -0.8% | 4.1% | 2.4% | 1.1% |
| Non-Recurring | 10M | 16M | 46M | -39K | 146K | 0 | 7.6M | -631K | 0 | 367K | -479K | 18M | 18M |
| Returns on Capital | |||||||||||||
| ROIC | 11.8% | -18.2% | -4.3% | N/A | 2.7% | 3.1% | 0.7% | -3.2% | -4.8% | 2.3% | 5.2% | 2.9% | 2.1% |
| ROE | 12.4% | -25.7% | -6.4% | 2.1% | 1.8% | 3.5% | 1.1% | -3.6% | -5.5% | -0.7% | 3.7% | 2.0% | 0.9% |
| ROA | 7.4% | -14.8% | -3.5% | 1.3% | 1.2% | 2.3% | 0.8% | -2.6% | -3.7% | -0.4% | 2.2% | 1.2% | 0.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 359M | 111M | 39M | 52M | 197M | 170M | 99M | 140M | 51M | 152M | 186M | 137M | 182M |
| Free Cash Flow | 23M | -210M | -148M | -179M | 60M | 29M | 79M | 132M | 18M | 133M | 163M | 120M | 167M |
| Owner Earnings | 247M | -16M | -81M | -68M | 76M | 45M | -43M | -9.1M | -99M | -18M | 5.5M | -57M | -13M |
| CapEx | 337M | 320M | 186M | 231M | 137M | 141M | 20M | 8.3M | 34M | 20M | 23M | 16M | 15M |
| Maint. CapEx | 109M | 120M | 114M | 109M | 111M | 113M | 134M | 142M | 143M | 164M | 173M | 187M | 189M |
| Growth CapEx | 228M | 200M | 72M | 122M | 27M | 28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 109M | 120M | 114M | 109M | 111M | 113M | 134M | 142M | 143M | 164M | 173M | 187M | 189M |
| CapEx/OCF | 93.7% | 289.1% | 481.7% | 447.6% | 69.7% | 83.0% | 20.5% | 5.9% | 65.6% | 12.8% | 12.5% | 12.0% | 8.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 8.4M | 1.1M | 341K | 0 | 0 | 0 | 0 | 0 | 0 | 12M | 30M | 0 | 0 |
| Buyback Yield | 0.4% | 0.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.7% | N/A | N/A | 0.0% |
| Stock-Based Comp | 3.1M | 6.5M | 5.9M | 11M | 9.9M | 11M | 8.6M | 7.7M | 7.5M | 6.5M | 7.3M | 6.6M | 6.3M |
| Debt Repayment | 0 | 0 | 138M | 0 | 60M | 0 | 183M | 0 | 35M | 261M | 61M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 75M | 263M | 273M | 229M | 161M | 403M | 211M | 157M | 283M | 208M | 293M | 185M | -198M |
| Cash & Equiv. | 476M | 494M | 357M | 267M | 279M | 208M | 291M | 254M | 187M | 332M | 368M | 445M | 501M |
| Long-Term Debt | 523M | 678M | 558M | 386M | 393M | 306M | 259M | 262M | 226M | 313M | 306M | 298M | 294M |
| Debt/Equity | 0.33 | 0.59 | 0.49 | 0.32 | 0.27 | 0.36 | 0.29 | 0.25 | 0.31 | 0.36 | 0.44 | 0.40 | 0.20 |
| Interest Coverage | 7.9 | -7.7 | -1.4 | N/A | 1.6 | 2.2 | 0.4 | -2.1 | -2.2 | 3.0 | 3.8 | 2.0 | 1.3 |
| Equity | 1.7B | 1.3B | 1.3B | 1.6B | 1.6B | 1.7B | 1.7B | 1.6B | 1.5B | 1.5B | 1.5B | 1.6B | 1.6B |
| Total Assets | 2.7B | 2.4B | 2.2B | 2.4B | 2.3B | 2.6B | 2.5B | 2.3B | 2.4B | 2.6B | 2.6B | 2.6B | 2.6B |
| Total Liabilities | 1.0B | 1.1B | 965M | 795M | 730M | 894M | 754M | 679M | 873M | 1.1B | 1.1B | 1.0B | 1.0B |
| Intangibles | 696K | 781K | N/A | N/A | 1.4M | 3.8M | 3.8M | 3.5M | 4.5M | 4.1M | 3.6M | 3.3M | 3.1M |
| Retained Earnings | 781M | 404M | 323M | 353M | 383M | 445M | 465M | 411M | 323M | 312M | 368M | 399M | 386M |
| Working Capital | 469M | 473M | 336M | 186M | 259M | 154M | 246M | 251M | 163M | 249M | 405M | 525M | 538M |
| Current Assets | 694M | 684M | 523M | 452M | 451M | 438M | 526M | 530M | 461M | 698M | 710M | 825M | 819M |
| Current Liabilities | 226M | 211M | 186M | 266M | 191M | 285M | 279M | 278M | 298M | 449M | 304M | 300M | 281M |
| Per Share Data | |||||||||||||
| EPS | 1.85 | -3.58 | -0.73 | 0.20 | 0.19 | 0.38 | 0.13 | -0.41 | -0.58 | -0.07 | 0.36 | 0.21 | 0.10 |
| Owner EPS | 2.34 | -0.15 | -0.73 | -0.45 | 0.51 | 0.30 | -0.29 | -0.06 | -0.65 | -0.12 | 0.04 | -0.39 | -0.09 |
| Book Value | 15.68 | 12.15 | 11.49 | 10.43 | 10.85 | 11.27 | 11.52 | 10.93 | 10.02 | 9.69 | 9.84 | 10.77 | 10.57 |
| Cash Flow/Share | 3.41 | 1.05 | 0.35 | 0.34 | 1.32 | 1.13 | 0.65 | 0.93 | 0.34 | 0.98 | 1.20 | 0.93 | 1.38 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 105.4M | 105.3M | 111.6M | 150.3M | 149.1M | 150.8M | 151.0M | 150.7M | 151.4M | 154.8M | 154.4M | 146.7M | 147.3M |
| Valuation | |||||||||||||
| P/E Ratio | 11.7 | N/A | N/A | 37.7 | 28.6 | 24.9 | 31.7 | N/A | N/A | N/A | 25.4 | 29.8 | 101.6 |
| P/FCF | 101.1 | N/A | N/A | N/A | 13.6 | 49.5 | 7.9 | 3.8 | 59.9 | 12.1 | 8.7 | 7.6 | 8.7 |
| EV/EBIT | 7.3 | N/A | N/A | N/A | 14.5 | 22.5 | 43.0 | N/A | N/A | 21.3 | 7.9 | 5.3 | 28.9 |
| Price/Book | 1.4 | 0.4 | 0.8 | 0.7 | 0.5 | 0.8 | 0.4 | 0.3 | 0.7 | 1.1 | 0.9 | 0.6 | 0.9 |
| Price/Sales | 2.3 | 1.8 | 1.6 | 1.8 | 1.6 | 1.6 | 1.0 | 1.0 | 0.8 | 1.0 | 1.2 | 0.8 | 1.1 |
| FCF Yield | 1.0% | -38.6% | -14.7% | -15.8% | 7.3% | 2.0% | 11.2% | 26.8% | 1.7% | 8.3% | 11.5% | 13.1% | 11.5% |
| Market Cap | 2.3B | 542M | 1.0B | 1.1B | 819M | 1.4B | 703M | 492M | 1.1B | 1.6B | 1.4B | 919M | 1.5B |
| Avg. Price | 23.88 | 11.73 | 7.16 | 6.89 | 7.92 | 7.89 | 4.10 | 4.51 | 4.51 | 8.61 | 10.51 | 7.00 | 9.91 |
| Year-End Price | 21.65 | 5.15 | 9.03 | 7.54 | 5.44 | 9.46 | 4.12 | 3.28 | 6.97 | 10.36 | 9.16 | 6.26 | 9.91 |
HELIX ENERGY SOLUTIONS GROUP INC passes 2 of 9 quality checks, indicating weak fundamentals.
HELIX ENERGY SOLUTIONS GROUP INC trades at 47.2x trailing earnings, compared to its 15-year median P/E of 29.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 12.1x vs a median of 10.4x. The company's 5-year average ROIC is 0.5% with a gross margin of 10.4%. At current prices, the estimated annualized return to fair value is +18.2%.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a net profit margin of 2.4%. This is a modest margin.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) generated $120 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a debt-to-equity ratio of 0.40. This indicates a conservatively financed balance sheet.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) reported earnings per share (EPS) of $0.21 in its most recent fiscal year.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a return on equity (ROE) of 2.0%. This indicates moderate shareholder returns.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a 5-year average gross margin of 10.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for HELIX ENERGY SOLUTIONS GROUP INC (HLX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HELIX ENERGY SOLUTIONS GROUP INC (HLX) has a book value per share of $10.77, based on its most recent annual SEC filing.