A Business at a Glance
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W&T OFFSHORE INC
WTI
$541M
Mkt Cap
$3.66
-4.94%
W&T OFFSHORE INC (WTI) has a 5-year average return on invested capital (ROIC) of 60.5%. This indicates strong capital allocation and a potential competitive advantage.
W&T OFFSHORE INC (WTI) has a market capitalization of $545M. It is classified as a small-cap stock.
Yes, W&T OFFSHORE INC (WTI) pays a dividend with a trailing twelve-month yield of 1.10%.
W&T OFFSHORE INC (WTI) operates in the Crude Petroleum & Natural Gas industry, within the Energy sector.
W&T OFFSHORE INC (WTI) reported annual revenue of $525 million in its most recent fiscal year, based on SEC EDGAR filings.
W&T OFFSHORE INC (WTI) has a net profit margin of -16.6%. The company is currently unprofitable.
W&T OFFSHORE INC (WTI) generated $60 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ITEM 1. BUSINESS W&T Offshore, Inc. (“we,” “our” or “us”) is a publicly held Texas corporation. We are an independent oil and natural gas producer with substantially all our operations offshore in the Gulf of America. We are active in the acquisition, exploration and development of oil and natural gas properties. We operate in one reportable segment. Since our founding in 1983 by our Chairman and Chief Executive Officer, Tracy Krohn, we have developed significant technical expertise in finding and developing properties in the Gulf of America with existing production which provide the best opportunity to achieve a return on our invested capital. We have successfully discovered and produced properties on the conventional shelf and in the deepwater across the Gulf of America. We have continually grown our footprint in the Gulf of America through acquisitions, exploration and development.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 500M | 525M | 533M | 921M | 558M | 347M |
| Net Income | -146M | -87M | 16M | 231M | -41M | 38M |
| EPS | $-0.99 | $-0.59 | $0.11 | $1.59 | $-0.29 | $0.26 |
| Free Cash Flow | 0 | 60M | 115M | 340M | 134M | 109M |
| ROIC | -75.3% | -27.8% | 5.5% | 153.7% | 79.7% | 91.6% |
| Gross Margin | - | 94.6% | 95.1% | 96.2% | 95.0% | 95.4% |
| Debt/Equity | 0.00 | -6.96 | 12.52 | 90.84 | -2.78 | -3.00 |
| Dividends/Share | $0.04 | $0.04 | $0.01 | - | - | - |
| Operating Income | -51M | -42M | 29M | 454M | 190M | 69M |
| Operating Margin | -10.1% | -8.0% | 5.5% | 49.3% | 34.0% | 19.9% |
| ROE | 0.0% | - | 50.0% | 3027.9% | - | - |
| Shares Outstanding | 149M | 148M | 142M | 145M | 143M | 145M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 984M | 949M | N/A | 400M | 487M | 581M | 535M | 347M | 558M | 921M | 533M | 525M | 500M |
| Gross Margin | 72.5% | 72.1% | N/A | 61.9% | N/A | 96.1% | 95.1% | 95.4% | 95.0% | 96.2% | 95.1% | 94.6% | 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 | 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 |
| EBIT | 147M | 62M | -1.1B | -331M | 110M | 247M | 59M | 69M | 190M | 454M | 29M | -42M | -51M |
| Op. Margin | 14.9% | 6.5% | N/A | -82.6% | 22.6% | 42.5% | 11.0% | 19.9% | 34.0% | 49.3% | 5.5% | -8.0% | -10.1% |
| Net Income | 51M | -12M | -1.0B | -249M | 80M | 249M | 74M | 38M | -41M | 231M | 16M | -87M | -146M |
| Net Margin | 5.2% | -1.2% | N/A | -62.3% | 16.4% | 42.8% | 13.9% | 10.9% | -7.4% | 25.1% | 2.9% | -16.6% | -29.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 5.4% | 3.4% | -154.7% | -70.5% | 40.9% | 89.5% | 13.4% | 91.6% | 79.7% | 153.7% | 5.5% | -27.8% | -75.3% |
| ROE | 9.5% | -2.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3027.9% | 50.0% | N/A | 0.0% |
| ROA | 2.0% | -0.4% | -86.5% | -30.0% | 8.8% | 29.3% | 7.4% | 4.0% | -3.5% | 16.1% | 1.4% | -7.9% | -15.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 561M | 474M | 133M | 14M | 159M | 322M | 232M | 109M | 134M | 340M | 115M | 60M | 47M |
| Free Cash Flow | 561M | 474M | 133M | 14M | 159M | 322M | 232M | 109M | 134M | 340M | 115M | 60M | 0 |
| Owner Earnings | 98M | -52M | -271M | -208M | -3.5M | 168M | 80M | -16M | 17M | 198M | -39M | -126M | -139M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 452M | 511M | 394M | 212M | 156M | 150M | 148M | 120M | 113M | 134M | 144M | 175M | 175M |
| Growth CapEx | 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 |
| D&A | 452M | 511M | 394M | 212M | 156M | 150M | 148M | 120M | 113M | 134M | 144M | 175M | 175M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 59M | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.5M | 5.9M | 6.0M |
| Dividend Yield | 5.5% | 3.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.2% | 1.8% | 1.1% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback 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 | 0.0% |
| Stock-Based Comp | 12M | 15M | 10M | 11M | 7.2M | 3.5M | 3.7M | 4.0M | 3.4M | 7.9M | 10M | 10M | 10M |
| Debt Repayment | 3.9M | 0 | 6.7M | 18M | 421K | 22M | 0 | 0 | 9.8M | 1.7M | 7.4M | 762K | 762K |
| Balance Sheet | |||||||||||||
| Net Debt | 1.2B | 1.3B | 1.1B | 950M | 893M | 600M | 687M | 582M | 485M | 232M | 217M | 284M | 226M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 125M |
| Long-Term Debt | 1.2B | 1.4B | 1.2B | 1.0B | 969M | 634M | 720M | 625M | 688M | 111M | 361M | 366M | 366M |
| Debt/Equity | 2.23 | 2.65 | -2.27 | -1.54 | -1.69 | -1.95 | -2.89 | -3.00 | -2.78 | 90.84 | 12.52 | -6.96 | 0.00 |
| Interest Coverage | 1.7 | 0.7 | -11.0 | -3.6 | 2.4 | 5.1 | 1.0 | 1.1 | 2.7 | 6.5 | 0.7 | -1.0 | -1.0 |
| Equity | 541M | 509M | -526M | -659M | -574M | -325M | -249M | -208M | -247M | 7.6M | 31M | -53M | -172M |
| Total Assets | 2.5B | 2.7B | 1.2B | 830M | 908M | 849M | 1.0B | 941M | 1.2B | 1.4B | 1.1B | 1.1B | 961M |
| Total Liabilities | 2.0B | 2.2B | 1.7B | 1.5B | 1.5B | 1.2B | 1.3B | 1.1B | 1.4B | 1.4B | 1.1B | 1.2B | 19M |
| Intangibles | 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 |
| Retained Earnings | 161M | 119M | -926M | -1.2B | -1.1B | -846M | -772M | -734M | -776M | -545M | -531M | -624M | -624M |
| Working Capital | -120M | -114M | -58M | -11M | 22M | 40M | -48M | -7.8M | 34M | -222M | 48M | -28M | -28M |
| Current Assets | 174M | 171M | 169M | 192M | 191M | 226M | 142M | 107M | 358M | 570M | 265M | 218M | 218M |
| Current Liabilities | 293M | 284M | 227M | 203M | 168M | 186M | 190M | 115M | 324M | 792M | 217M | 246M | 246M |
| Per Share Data | |||||||||||||
| EPS | 0.68 | -0.16 | -13.76 | -2.60 | 0.56 | 1.72 | 0.52 | 0.26 | -0.29 | 1.59 | 0.11 | -0.59 | -0.99 |
| Owner EPS | 1.30 | -0.71 | -3.57 | -2.18 | -0.02 | 1.16 | 0.56 | -0.11 | 0.12 | 1.36 | -0.27 | -0.85 | -0.93 |
| Book Value | 7.16 | 6.99 | -6.93 | -6.88 | -4.03 | -2.25 | -1.75 | -1.43 | -1.73 | 0.05 | 0.22 | -0.36 | -1.16 |
| Cash Flow/Share | 7.44 | 6.50 | 1.75 | 0.15 | 1.12 | 2.22 | 1.63 | 0.75 | 0.93 | 2.34 | 0.81 | 0.40 | 0.20 |
| Dividends/Share | 0.78 | 0.42 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.01 | 0.04 | 0.04 |
| Shares Out. | 75.5M | 72.9M | 75.9M | 95.8M | 142.3M | 144.7M | 142.5M | 145.3M | 143.0M | 145.4M | 141.8M | 147.7M | 148.8M |
| Valuation | |||||||||||||
| P/E Ratio | 22.2 | N/A | N/A | N/A | 5.7 | 2.3 | 9.9 | 8.3 | N/A | 3.3 | 29.0 | N/A | -3.7 |
| P/FCF | 2.0 | 1.1 | 1.3 | 18.8 | 2.8 | 1.8 | 3.2 | 2.9 | 3.5 | 2.2 | 3.9 | 3.9 | N/A |
| EV/EBIT | 15.9 | 29.8 | N/A | N/A | 12.2 | 4.7 | 24.2 | 12.9 | 5.0 | 2.2 | 22.7 | N/A | N/A |
| Price/Book | 2.1 | 1.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 99.4 | 14.5 | N/A | N/A |
| Price/Sales | 1.1 | 1.0 | N/A | 0.5 | 0.7 | 1.4 | 1.3 | 1.0 | 0.9 | 0.8 | 1.1 | 0.6 | 1.1 |
| FCF Yield | 49.3% | 90.8% | 77.5% | 5.3% | 35.2% | 56.9% | 31.6% | 34.7% | 28.9% | 44.7% | 25.5% | 25.7% | N/A |
| Market Cap | 1.1B | 522M | 172M | 266M | 453M | 566M | 734M | 313M | 462M | 759M | 453M | 232M | 545M |
| Avg. Price | 14.26 | 12.74 | 4.46 | 1.90 | 2.45 | 5.81 | 4.73 | 2.43 | 3.43 | 5.32 | 4.25 | 2.27 | 3.66 |
| Year-End Price | 15.10 | 7.16 | 2.27 | 2.78 | 3.18 | 3.91 | 5.15 | 2.15 | 3.23 | 5.22 | 3.19 | 1.57 | 3.66 |
W&T OFFSHORE INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 9.1x vs a median of 3.0x. The company's 5-year average ROIC is 60.5% with a gross margin of 95.3%. Total shareholder yield (dividends) is 1.1%. At current prices, the estimated annualized return to fair value is -14.6%.
W&T OFFSHORE INC (WTI) reported earnings per share (EPS) of $-0.59 in its most recent fiscal year.
W&T OFFSHORE INC (WTI) has a 5-year average gross margin of 95.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 14 years of financial data for W&T OFFSHORE INC (WTI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
W&T OFFSHORE INC (WTI) has a book value per share of $-0.36, based on its most recent annual SEC filing.
No recent press releases.