NYSE : WTI
W&T Offshore, Inc. — Financial statements
Energy · Oil & Gas Exploration & Production · United States
Last price 4.05 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 627.33M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
W&T Offshore, Inc. (WTI) reported revenue of 601.43M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 587.09M | 492.16M | 514.48M | 523.99M | 905.07M | 547.65M |
| Other Revenue | 14.34M | 9.30M | 10.79M | 8.66M | 15.93M | 10.36M |
| Revenue | 601.43M | 501.46M | 525.26M | 532.66M | 921.00M | 558.01M |
| Cost of Revenue | 322.34M | 324.52M | 309.67M | 283.93M | 259.54M | 202.50M |
| Gross Profit | 279.09M | 176.94M | 215.60M | 248.73M | 661.46M | 355.51M |
| Selling, General & Admin | 104.64M | 79.95M | 82.39M | 75.54M | 73.75M | 54.50M |
| Other Operating Expenses | 34.86M | 33.38M | 32.37M | 29.02M | 26.51M | 22.93M |
| Operating Expenses | 249.10M | 229.74M | 257.79M | 219.24M | 207.38M | 167.95M |
| Operating Income | 29.99M | -52.80M | -42.19M | 29.49M | 454.08M | 187.56M |
| Interest Expense | -36.37M | -36.49M | -40.45M | -44.69M | -69.44M | -70.05M |
| Other Non Operating Income (Expenses) | -40.66M | 5.18M | -14.48M | 49.14M | -99.83M | -169.15M |
| EBT Excluding Unusual Items | -47.05M | -84.12M | -97.13M | 33.94M | 284.81M | -51.63M |
| Other Unusual Items | -15.02M | 2.10M | ||||
| Pretax Income | -47.05M | -99.14M | -97.13M | 33.94M | 284.81M | -49.53M |
| Income Tax Expense | 3.70M | 50.93M | -9.98M | 18.34M | 53.66M | -8.06M |
| Net Income | -50.74M | -150.06M | -87.14M | 15.60M | 231.15M | -41.48M |
| Net Income to Common | -50.74M | -150.06M | -87.14M | 15.60M | 231.15M | -41.48M |
| Shares Outstanding (Basic) | 149.79M | 148.21M | 147.13M | 146.48M | 143.14M | 142.27M |
| Shares Outstanding (Diluted) | 149.79M | 148.21M | 147.13M | 148.30M | 145.09M | 142.27M |
| EPS (Basic) | -0.34 | -1.01 | -0.59 | 0.11 | 1.61 | -0.29 |
| EPS (Diluted) | -0.34 | -1.01 | -0.59 | 0.11 | 1.59 | -0.29 |
| Free Cash Flow | 61.54M | 27.76M | -58.64M | 33.72M | 244.45M | 100.94M |
| Free Cash Flow Per Share | 0.41 | 0.19 | -0.40 | 0.23 | 1.69 | 0.71 |
| Dividend Per Share | 0.04 | 0.04 | 0.04 | 0.01 | ||
| Gross Margin | 46.40% | 35.28% | 41.05% | 46.70% | 71.82% | 63.71% |
| Operating Margin | 4.99% | -10.53% | -8.03% | 5.54% | 49.30% | 33.61% |
| Profit Margin | -8.44% | -29.93% | -16.59% | 2.93% | 25.10% | -7.43% |
| Free Cash Flow Margin | 10.23% | 5.54% | -11.16% | 6.33% | 26.54% | 18.09% |
| EBITDA | 173.79M | 96.98M | 133.21M | 173.19M | 587.71M | 301.01M |
| EBITDA Margin | 28.90% | 19.34% | 25.36% | 32.51% | 63.81% | 53.94% |
| D&A For EBITDA | 143.80M | 149.79M | 175.40M | 143.69M | 133.63M | 113.45M |
| EBIT | 29.99M | -52.80M | -42.19M | 29.49M | 454.08M | 187.56M |
| EBIT Margin | 4.99% | -10.53% | -8.03% | 5.54% | 49.30% | 33.61% |
| Effective Tax Rate | 54.05% | 18.84% | ||||
| Revenue as Reported | 601.43M | 501.46M | 525.26M | 532.66M | 921.00M | 558.01M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 191.32M | 140.56M | 109.00M | 173.34M | 461.36M | 245.80M |
| Cash & Short-Term Investments | 191.32M | 140.56M | 109.00M | 173.34M | 461.36M | 245.80M |
| Accounts Receivable | 104.57M | 84.11M | 89.40M | 67.56M | 80.15M | 64.66M |
| Other Receivables | 2.22M | |||||
| Receivables | 104.57M | 84.11M | 89.40M | 69.78M | 80.15M | 64.66M |
| Restricted Cash | 62.00K | 1.55M | 4.42M | 4.42M | 4.42M | |
| Other Current Assets | 18.48M | 14.54M | 18.50M | 17.45M | 24.34M | 43.38M |
| Total Current Assets | 314.36M | 239.27M | 218.46M | 264.98M | 570.26M | 358.26M |
| Property, Plant & Equipment | 621.48M | 673.11M | 787.79M | 759.57M | 745.58M | 675.85M |
| Long-Term Investments | 2.18M | 2.45M | 2.53M | |||
| Long-Term Deferred Tax Assets | 96.00K | 35.00K | 48.81M | 38.77M | 57.28M | 102.50M |
| Other Long-Term Assets | 55.09M | 43.39M | 43.88M | 48.50M | 56.22M | 54.06M |
| Total Assets | 991.03M | 955.81M | 1.10B | 1.11B | 1.43B | 1.19B |
| Accounts Payable | 95.41M | 98.41M | 83.62M | 78.86M | 65.16M | 67.41M |
| Accrued Expenses | 18.00M | 29.12M | 26.27M | 24.26M | 25.82M | 22.92M |
| Current Portion of Long-Term Debt | 1.00M | 8.46M | 27.29M | 29.37M | 582.25M | 42.96M |
| Current Portion of Leases | 1.28M | 1.76M | 1.52M | 1.46M | 1.63M | 1.11M |
| Current Income Taxes Payable | 358.00K | 202.00K | 412.00K | 133.00K | ||
| Other Current Liabilities | 123.92M | 96.32M | 107.38M | 82.92M | 117.07M | 189.84M |
| Total Current Liabilities | 239.97M | 234.28M | 246.08M | 216.85M | 792.33M | 324.38M |
| Long-Term Debt | 350.97M | 342.36M | 365.94M | 361.24M | 111.19M | 687.94M |
| Long-Term Leases | 11.03M | 10.39M | 10.80M | 10.53M | 11.23M | |
| Long-Term Deferred Tax Liabilities | 1.90M | 8.00K | 51.00K | 72.00K | 113.00K | |
| Other Long-Term Liabilities | 590.02M | 565.99M | 529.09M | 493.87M | 510.04M | 416.73M |
| Total Liabilities | 1.18B | 1.16B | 1.15B | 1.08B | 1.42B | 1.44B |
| Common Stock | 2.00K | 2.00K | 2.00K | 1.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 643.05M | 604.73M | 595.41M | 586.01M | 576.59M | 552.92M |
| Retained Earnings | -808.82M | -780.32M | -623.82M | -530.66M | -544.79M | -775.94M |
| Treasury Stock | -24.17M | -24.17M | -24.17M | -24.17M | -24.17M | -24.17M |
| Shareholders' Equity | -189.93M | -199.75M | -52.58M | 31.19M | 7.63M | -247.18M |
| Total Liabilities & Equity | 991.03M | 955.81M | 1.10B | 1.11B | 1.43B | 1.19B |
| Total Debt | 353.25M | 363.61M | 405.13M | 402.86M | 705.59M | 743.24M |
| Net Cash (Debt) | -161.94M | -223.05M | -296.13M | -229.52M | -244.24M | -497.44M |
| Net Cash Per Share | -1.08 | -1.50 | -2.01 | -1.55 | -1.68 | -3.50 |
| Filing Date Shares Outstanding | 154.90M | 148.78M | 147.64M | 146.86M | 146.42M | 142.94M |
| Total Common Shares Outstanding | 154.89M | 148.78M | 147.37M | 146.58M | 146.09M | 142.79M |
| Working Capital | 74.39M | 4.99M | -27.63M | 48.13M | -222.07M | 33.88M |
| Book Value Per Share | -1.23 | -1.34 | -0.36 | 0.21 | 0.05 | -1.73 |
| Tangible Book Value | -189.93M | -199.75M | -52.58M | 31.19M | 7.63M | -247.18M |
| Tangible Book Value Per Share | -1.23 | -1.34 | -0.36 | 0.21 | 0.05 | -1.73 |
| Machinery | 20.91M | 20.84M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -50.74M | -150.06M | -87.14M | 15.60M | 231.15M | -41.48M |
| Depreciation & Amortization | 143.80M | 149.79M | 175.40M | 143.69M | 133.63M | 113.45M |
| Other Amortization | 3.14M | 3.37M | 4.56M | 6.98M | 7.55M | 6.55M |
| Stock-Based Compensation | 32.64M | 12.23M | 10.19M | 10.38M | 7.92M | 3.36M |
| Other Operating Activities | 16.02M | 66.66M | -9.14M | -45.21M | 42.73M | 45.34M |
| Change in Accounts Receivable | -19.17M | 5.29M | -19.62M | 12.59M | -15.48M | -14.99M |
| Change in Accounts Payable | 10.89M | 23.32M | 26.43M | 7.97M | -23.65M | 46.10M |
| Change in Income Taxes | -20.00K | |||||
| Change in Other Net Operating Assets | -38.13M | -33.35M | -41.14M | -36.68M | -44.32M | -24.65M |
| Operating Cash Flow | 98.46M | 77.24M | 59.54M | 115.33M | 339.53M | 133.67M |
| Capital Expenditures | -36.92M | -49.48M | -118.18M | -81.61M | -95.08M | -32.72M |
| Sale of Property, Plant & Equipment | 11.92M | 2.00K | ||||
| Investment in Securities | 927.00K | |||||
| Other Investing Activities | 58.50M | 5.28M | ||||
| Investing Cash Flow | -36.92M | 21.86M | -118.18M | -81.61M | -95.08M | -27.44M |
| Long-Term Debt Issued | 350.00M | 275.00M | 215.00M | |||
| Long-Term Debt Repaid | -385.09M | -1.10M | -586.93M | -42.96M | -104.14M | |
| Net Debt Issued (Repaid) | -1.10M | -35.09M | -1.10M | -311.93M | -42.96M | 110.86M |
| Issuance of Common Stock | 14.67M | 16.46M | ||||
| Common Dividends Paid | -6.19M | -6.01M | -5.90M | -1.47M | ||
| Other Financing Activities | -3.96M | -27.94M | -1.56M | -8.34M | -2.39M | -10.59M |
| Financing Cash Flow | 3.43M | -69.04M | -8.56M | -321.74M | -28.89M | 100.27M |
| Net Cash Flow | 64.97M | 30.07M | -67.20M | -288.02M | 215.56M | 206.49M |
| Free Cash Flow | 61.54M | 27.76M | -58.64M | 33.72M | 244.45M | 100.94M |
| Free Cash Flow Margin | 10.23% | 5.54% | -11.16% | 6.33% | 26.54% | 18.09% |
| Free Cash Flow Per Share | 0.41 | 0.19 | -0.40 | 0.23 | 1.69 | 0.71 |
| Levered Free Cash Flow | 159.65M | 77.62M | 33.75M | 64.79M | 226.13M | 280.83M |
| Unlevered Free Cash Flow | 179.24M | 97.05M | 54.47M | 85.74M | 261.98M | 318.05M |
| Cash Interest Paid | 35.88M | 35.88M | 40.57M | 42.13M | 71.13M | 64.81M |
| Cash Income Tax Paid | -607.00K | -2.00M | 2.40M | 8.20M | 152.00K | |
| Change in Working Capital | -46.41M | -4.74M | -34.33M | -16.12M | -83.45M | 6.44M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 556.07M | 242.51M | 244.61M | 477.83M | 798.61M | 459.62M |
| Enterprise Value | 718.01M | 469.89M | 512.13M | 738.57M | 1.07B | 956.44M |
| Last Close Price | 3.59 | 1.62 | 1.61 | 3.10 | 5.29 | 3.06 |
| PE Ratio | 30.63 | 3.46 | ||||
| Forward PE | 19.46 | 20.78 | 17.16 | 5.81 | 4.58 | |
| PS Ratio | 0.92 | 0.48 | 0.47 | 0.90 | 0.87 | 0.82 |
| PB Ratio | -1.21 | -4.65 | 15.32 | 104.61 | -1.86 | |
| P/TBV Ratio | 15.32 | 104.61 | ||||
| P/FCF Ratio | 9.04 | 8.74 | 14.17 | 3.27 | 4.55 | |
| P/OCF Ratio | 5.65 | 3.14 | 4.11 | 4.14 | 2.35 | 3.44 |
| EV/Sales Ratio | 1.19 | 0.94 | 0.97 | 1.39 | 1.16 | 1.71 |
| EV/EBITDA Ratio | 4.13 | 4.84 | 3.85 | 4.26 | 1.81 | 3.18 |
| EV/EBIT Ratio | 23.94 | 25.04 | 2.35 | 5.10 | ||
| EV/FCF Ratio | 11.67 | 16.93 | 21.90 | 4.36 | 9.47 | |
| Debt / Equity Ratio | -1.86 | -1.82 | -7.71 | 12.92 | 92.43 | -3.01 |
| Debt / EBITDA Ratio | 2.00 | 3.64 | 2.98 | 2.29 | 1.19 | 2.41 |
| Debt / FCF Ratio | 5.74 | 13.10 | 11.95 | 2.89 | 7.36 | |
| Net Debt / Equity Ratio | -0.85 | -1.12 | -5.63 | 7.36 | 31.99 | -2.01 |
| Net Debt / EBITDA Ratio | 0.93 | 2.30 | 2.22 | 1.32 | 0.42 | 1.65 |
| Net Debt / FCF Ratio | 2.63 | 8.04 | -5.05 | 6.81 | 1.00 | 4.93 |
| Asset Turnover | 0.62 | 0.49 | 0.47 | 0.42 | 0.70 | 0.52 |
| Quick Ratio | 1.23 | 0.96 | 0.81 | 1.12 | 0.68 | 0.96 |
| Current Ratio | 1.31 | 1.02 | 0.89 | 1.22 | 0.72 | 1.10 |
| Return on Equity (ROE) | 80.35% | |||||
| Return on Assets (ROA) | 1.92% | -3.21% | -2.38% | 1.45% | 21.62% | 10.99% |
| Return on Invested Capital (ROIC) | 4.04% | -6.71% | -7.58% | 5.29% | 65.77% | 22.14% |
| Return on Capital Employed (ROCE) | 4.00% | -7.30% | -4.90% | 3.30% | 71.00% | 21.60% |
| Earnings Yield | -9.44% | -61.88% | -35.63% | 3.26% | 28.94% | -9.02% |
| FCF Yield | 11.07% | 11.45% | -23.97% | 7.06% | 30.61% | 21.96% |
| Dividend Yield | 1.11% | 2.45% | 2.41% | 0.31% | ||
| Payout Ratio | 9.40% | |||||
| Buyback Yield / Dilution | -1.28% | -0.73% | 0.79% | -2.21% | -1.98% | 0.70% |
| Total Shareholder Return | -0.17% | 1.72% | 3.20% | -1.91% | -1.98% | 0.70% |