A Business at a Glance
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Bristow Group Inc.
VTOL
$1.4B
Mkt Cap
$45.71
+1.22%
Bristow Group Inc. (VTOL) has a current P/E ratio of 10.6, compared to its historical median P/E of 13.6. The stock is currently considered Fair based on its historical valuation range.
Bristow Group Inc. (VTOL) has a 5-year average return on invested capital (ROIC) of 7.4%. This is below average and may indicate limited pricing power.
Bristow Group Inc. (VTOL) has a market capitalization of $1.4B. It is classified as a small-cap stock.
Bristow Group Inc. (VTOL) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.75%.
Based on historical P/E analysis, Bristow Group Inc. (VTOL) appears fair. The current P/E of 10.6 is 22% below its historical median of 13.6. The estimated fair value CAGR (P/E method) is 16.6%.
Bristow Group Inc. (VTOL) operates in the Air Transportation, Nonscheduled industry, within the Industrials sector.
Bristow Group Inc. (VTOL) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Unless the context indicates otherwise, the terms “we,” “our,” “ours,” “us”, “Bristow Group” and the “Company” refer to Bristow Group Inc. and its consolidated subsidiaries. Bristow Group Inc. was incorporated in 1999 in Delaware. Our common stock, par value $0.01 per share (the “common stock”), is traded on the New York Stock Exchange (“NYSE”) under the symbol “VTOL”. Bristow Group’s principal executive office is located at 3151 Briarpark Drive, Suite 700, Houston, Texas 77042, and our telephone number is (713) 267-7600. Our website address is www.bristowgroup.com. The reference to our website is not intended to incorporate the information on the website into this Annual Report on Form 10-K. Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. We primarily provide aviation services to a broad base of offshore energy companies and government entities.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.5B | 1.5B | 1.4B | 1.3B | 1.2B | 1.2B |
| Net Income | 115M | 129M | 95M | -6.8M | 9.2M | 77M |
| EPS | $3.96 | $4.32 | $3.21 | $-0.24 | $0.32 | $2.32 |
| Free Cash Flow | 59M | 56M | -78M | -49M | -57M | 82M |
| ROIC | 9.6% | 9.0% | 8.8% | 2.8% | 2.9% | 13.4% |
| Gross Margin | - | 28.7% | 29.0% | 26.7% | 34.0% | 23.0% |
| Debt/Equity | 0.71 | 0.86 | 1.07 | 1.02 | 0.96 | 0.61 |
| Dividends/Share | $0.00 | - | - | - | - | $0.36 |
| Operating Income | 160M | 159M | 133M | 61M | 61M | 128M |
| Operating Margin | 10.5% | 10.7% | 9.4% | 4.7% | 5.1% | 10.8% |
| ROE | 10.8% | 13.2% | 11.1% | -0.8% | 1.1% | 11.6% |
| Shares Outstanding | 30M | 30M | 30M | 28M | 29M | 33M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 299M | 331M | 282M | 247M | 231M | 222M | 1.4B | 1.2B | 1.2B | 1.3B | 1.4B | 1.5B | 1.5B |
| Gross Margin | 43.6% | 42.8% | 44.0% | 38.3% | 34.9% | 38.5% | 25.1% | 23.0% | 34.0% | 26.7% | 29.0% | 28.7% | N/A |
| 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 | 39M | 44M | 43M | 36M | 42M | 45M | 182M | 153M | 159M | 182M | 176M | 174M | 175M |
| EBIT | 46M | 43M | 24M | -3.4M | -136M | 28M | N/A | 128M | 61M | 61M | 133M | 159M | 160M |
| Op. Margin | 15.4% | 12.9% | 8.6% | -1.4% | -59.0% | 12.7% | N/A | 10.8% | 5.1% | 4.7% | 9.4% | 10.7% | 10.5% |
| Net Income | 18M | 17M | 8.7M | -8.0M | -28M | 14M | -337M | 77M | 9.2M | -6.8M | 95M | 129M | 115M |
| Net Margin | 6.0% | 5.2% | 3.1% | -3.2% | -12.2% | 6.3% | -24.6% | 6.5% | 0.8% | -0.5% | 6.7% | 8.7% | 7.5% |
| Non-Recurring | 18M | 6.1M | 7.8M | 4.8M | 122M | 2.6M | 117M | 111M | 7.8M | 0 | -1.0M | 12M | 12M |
| Returns on Capital | |||||||||||||
| ROIC | 4.5% | 3.8% | 2.0% | -1.1% | -4.2% | 3.6% | N/A | 13.4% | 2.9% | 2.8% | 8.8% | 9.0% | 9.6% |
| ROE | 5.1% | 3.8% | 1.9% | -1.7% | -6.2% | 3.1% | -73.2% | 11.6% | 1.1% | -0.8% | 11.1% | 13.2% | 10.8% |
| ROA | 1.9% | 1.7% | 0.9% | -0.8% | -3.2% | 1.8% | -44.1% | 3.9% | 0.5% | -0.4% | 4.7% | 5.8% | 4.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 64M | 78M | 44M | 59M | 20M | 54M | -109M | 97M | -7.7M | 32M | 177M | 198M | 191M |
| Free Cash Flow | -46M | -28M | -16M | 19M | 3.3M | 45M | -150M | 82M | -57M | -49M | -78M | 56M | 59M |
| Owner Earnings | 17M | 26M | -6.6M | 4.6M | -30M | 12M | -241M | 15M | -199M | -55M | 93M | 111M | 96M |
| CapEx | 110M | 107M | 60M | 39M | 17M | 9.2M | 41M | 15M | 50M | 82M | 255M | 142M | 131M |
| Maint. CapEx | 46M | 46M | 47M | 49M | 46M | 40M | 125M | 70M | 180M | 71M | 68M | 70M | 78M |
| Growth CapEx | 65M | 60M | 13M | 0 | 0 | 0 | 0 | 0 | 0 | 11M | 187M | 72M | 53M |
| D&A | 46M | 46M | 47M | 49M | 46M | 40M | 125M | 70M | 180M | 71M | 68M | 70M | 78M |
| CapEx/OCF | 171.0% | 136.3% | 135.1% | 67.0% | 83.4% | 17.0% | 23.8% | 15.3% | 25.1% | 254.4% | 143.9% | 71.6% | 68.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 5.0M | 0 | 0 | 0 | 0 | 0 | 0 | 12M | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 0.5% | N/A | N/A | N/A | N/A | N/A | N/A | 1.2% | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 2.1M | 161K | 52K | 0 | 0 | 11M | 41M | 2.7M | 4.1M | 15M | 24M |
| Buyback Yield | N/A | N/A | 0.9% | 0.0% | 0.0% | N/A | 3.6% | 1.2% | 5.7% | 0.3% | 0.4% | 1.4% | 1.8% |
| Stock-Based Comp | 1.8M | 5.8M | 3.7M | 4.6M | 4.6M | 2.9M | 6.4M | 12M | 12M | 16M | 16M | 17M | 17M |
| Debt Repayment | 0 | 2.4M | 71K | 886K | 0 | 1.3M | 61M | 618M | 19M | 142M | 15M | 58M | 58M |
| Balance Sheet | |||||||||||||
| Net Debt | 251M | 269M | 253M | 205M | 191M | 112M | 52M | 266M | 594M | 658M | 710M | 627M | 413M |
| Cash & Equiv. | 31M | 41M | 14M | 27M | 14M | 51M | 117M | 277M | 160M | 180M | 248M | 286M | 342M |
| Long-Term Debt | 279M | 282M | 264M | 230M | 202M | 160M | 142M | 528M | 500M | 535M | 671M | 644M | 727M |
| Debt/Equity | 0.65 | 0.67 | 0.57 | 0.50 | 0.46 | 0.35 | 0.37 | 0.61 | 0.96 | 1.02 | 1.07 | 0.86 | 0.71 |
| Interest Coverage | 2.6 | 2.9 | 1.8 | -0.2 | -8.1 | 1.9 | N/A | 2.5 | 1.5 | 1.5 | 3.5 | 4.0 | 3.6 |
| Equity | 436M | 461M | 471M | 468M | 446M | 463M | 457M | 898M | 787M | 824M | 892M | 1.1B | 1.1B |
| Total Assets | 959M | 1.0B | 1.0B | 955M | 792M | 765M | 765M | 2.0B | 1.8B | 1.9B | 2.1B | 2.3B | 2.4B |
| Total Liabilities | 523M | 557M | 528M | 483M | 343M | 298M | 305M | 1.1B | 1.0B | 1.1B | 1.2B | 1.3B | 1.3B |
| Intangibles | N/A | 0 | 1.2M | 1.1M | 1.1M | 1.1M | 96K | 109M | 84M | 48M | 29M | 13M | 13M |
| Retained Earnings | 15M | 32M | 41M | 33M | 4.4M | 18M | 15M | 227M | 225M | 218M | 313M | 442M | 451M |
| Working Capital | 75M | 52M | 71M | 71M | 50M | 87M | 145M | 281M | 208M | 254M | 294M | 329M | 424M |
| Current Assets | 105M | 108M | 103M | 96M | 83M | 116M | 196M | 586M | 493M | 564M | 619M | 694M | 792M |
| Current Liabilities | 30M | 56M | 32M | 26M | 32M | 29M | 51M | 305M | 286M | 310M | 326M | 365M | 367M |
| Per Share Data | |||||||||||||
| EPS | 0.88 | 0.84 | 0.42 | -0.39 | -1.36 | 0.64 | -9.42 | 2.32 | 0.32 | -0.24 | 3.21 | 4.32 | 3.96 |
| Owner EPS | 0.83 | 1.29 | -0.32 | 0.22 | -1.46 | 0.55 | -6.73 | 0.46 | -6.93 | -1.95 | 3.16 | 3.72 | 3.23 |
| Book Value | 21.35 | 22.61 | 22.74 | 22.90 | 21.52 | 21.30 | 12.77 | 27.10 | 27.34 | 29.16 | 30.19 | 35.47 | 35.77 |
| Cash Flow/Share | 3.15 | 3.84 | 2.14 | 2.86 | 0.97 | 2.50 | -3.06 | 2.92 | -0.27 | 1.13 | 6.01 | 6.64 | 6.51 |
| Dividends/Share | 0.24 | 0.00 | 0.00 | N/A | N/A | N/A | 0.00 | 0.36 | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 20.4M | 20.4M | 20.7M | 20.5M | 20.7M | 21.8M | 35.8M | 33.1M | 28.8M | 28.3M | 29.5M | 29.9M | 29.6M |
| Valuation | |||||||||||||
| P/E Ratio | 35.1 | 25.3 | 27.3 | N/A | N/A | 13.6 | N/A | 13.7 | N/A | N/A | 10.4 | 8.5 | 11.5 |
| P/FCF | N/A | N/A | N/A | 36.3 | 133.5 | 8.4 | N/A | 12.8 | N/A | N/A | N/A | 19.4 | 22.8 |
| EV/EBIT | 18.5 | 16.2 | 19.8 | N/A | N/A | 9.0 | N/A | N/A | 25.0 | 16.7 | 9.0 | 7.7 | 11.0 |
| Price/Book | 1.4 | 0.9 | 0.5 | 0.7 | 0.5 | 0.4 | 0.5 | 1.0 | 0.9 | 1.0 | 1.1 | 1.0 | 1.3 |
| Price/Sales | 1.8 | 1.6 | 1.4 | 0.8 | 1.0 | 1.1 | 0.9 | 0.7 | 0.7 | 0.6 | 0.7 | 0.7 | 0.9 |
| FCF Yield | -7.3% | -6.6% | -6.6% | 5.5% | 1.5% | 23.8% | -71.1% | 9.1% | -7.9% | -6.1% | -7.9% | 5.2% | 4.4% |
| Market Cap | 630M | 434M | 237M | 350M | 222M | 190M | 211M | 897M | 724M | 814M | 981M | 1.1B | 1.4B |
| Avg. Price | 51.58 | 53.53 | 36.93 | 18.92 | 22.67 | 22.69 | 19.48 | 29.23 | 28.99 | 26.59 | 32.30 | 34.72 | 45.71 |
| Year-End Price | 61.70 | 42.58 | 22.90 | 34.22 | 21.44 | 17.44 | 20.00 | 31.69 | 25.22 | 28.80 | 33.23 | 36.62 | 45.71 |
Bristow Group Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Bristow Group Inc. trades at 10.6x trailing earnings, compared to its 15-year median P/E of 13.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 23.7x vs a median of 16.1x. The company's 5-year average ROIC is 7.4% with a gross margin of 28.3%. Total shareholder yield (buybacks) is 1.8%. At current prices, the estimated annualized return to fair value is -9.0%.
Bristow Group Inc. (VTOL) has a net profit margin of 8.7%. This is a modest margin.
Bristow Group Inc. (VTOL) generated $56 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Bristow Group Inc. (VTOL) has a debt-to-equity ratio of 0.86. This indicates moderate leverage.
Bristow Group Inc. (VTOL) reported earnings per share (EPS) of $4.32 in its most recent fiscal year.
Bristow Group Inc. (VTOL) has a return on equity (ROE) of 13.2%. This indicates moderate shareholder returns.
Bristow Group Inc. (VTOL) has a 5-year average gross margin of 28.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for Bristow Group Inc. (VTOL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Bristow Group Inc. (VTOL) has a book value per share of $35.47, based on its most recent annual SEC filing.