HLX · Helix Energy Solutions Group Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.29B | $1.36B | $1.29B | $873.10M | $674.73M | $733.55M |
| Cost of Revenue | $1.13B | $1.14B | $1.09B | $822.48M | $659.34M | $653.65M |
| Gross Profit | $159.14M | $219.56M | $200.36M | $50.62M | $15.39M | $79.91M |
| R&D | - | - | - | - | - | - |
| SG&A | $75.94M | $91.65M | $94.43M | $76.75M | $63.45M | $61.08M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $187.38M | $173.29M | $164.12M | $142.69M | $141.51M | $133.71M |
| Operating Income | $65.14M | $127.44M | $63.51M | ($44.85M) | ($48.69M) | $13.03M |
| Interest Expense | $32.97M | $33.90M | $21.36M | $20.18M | $23.49M | $30.54M |
| Income Tax | $11.65M | $26.43M | $18.35M | $12.60M | ($8.96M) | ($18.70M) |
| Net Income | $30.83M | $55.64M | ($10.84M) | ($87.78M) | ($61.54M) | $22.17M |
| EPS - Basic | $0.21 | $0.37 | ($0.07) | ($0.58) | ($0.41) | $0.13 |
| EPS - Diluted | $0.21 | $0.36 | ($0.07) | ($0.58) | ($0.41) | $0.13 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $445.20M | $368.03M | $332.19M | $186.60M | $253.51M | $291.32M |
| Accounts Receivable | $303.94M | $258.63M | $280.43M | $212.78M | $144.14M | $132.23M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $134.29M | $144.79M | $134.55M | $135.27M | $87.96M | $50.02M |
| Current Assets | $824.99M | $709.68M | $697.84M | $460.59M | $529.54M | $525.64M |
| Total Assets | $2.62B | $2.60B | $2.56B | $2.39B | $2.33B | $2.50B |
| Current Liabilities | $299.68M | $304.42M | $448.62M | $297.95M | $278.28M | $279.31M |
| Long-term Debt | $298.35M | $305.97M | $313.43M | $225.88M | $262.14M | $258.91M |
| Total Liabilities | $1.04B | $1.08B | $1.06B | $872.63M | $678.56M | $753.93M |
| Stockholders' Equity | $1.58B | $1.52B | $1.50B | $1.52B | $1.65B | $1.74B |
| Retained Earnings | $398.91M | $368.09M | $312.45M | $323.29M | $411.07M | $464.52M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $136.75M | $186.03M | $152.46M | $51.11M | $140.12M | $98.80M |
| Investing Cash Flow | ($16.34M) | ($22.84M) | ($18.66M) | ($138.29M) | ($8.27M) | ($19.28M) |
| Financing Cash Flow | ($45.06M) | ($125.31M) | $25.11M | ($44.84M) | ($96.00M) | ($52.58M) |
| CapEx | $16.34M | $23.30M | $19.59M | $33.50M | $8.32M | $20.24M |
| Free Cash Flow | $120.41M | $162.72M | $132.87M | $17.60M | $131.79M | $78.56M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 12.3% | 16.2% | 15.5% | 5.8% | 2.3% | 10.9% |
| Operating margin | 5.0% | 9.4% | 4.9% | -5.1% | -7.2% | 1.8% |
| EBITDA margin | 19.6% | 22.1% | 17.6% | 11.2% | 13.8% | 20.0% |
| Net margin | 2.4% | 4.1% | -0.8% | -10.1% | -9.1% | 3.0% |
| Free cash flow margin | 9.3% | 12.0% | 10.3% | 2.0% | 19.5% | 10.7% |
| FCF / Net income | 3.91 | 2.92 | -12.26 | -0.20 | -2.14 | 3.54 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 5.9% | 6.7% | 7.3% | 8.8% | 9.4% | 8.3% |
| Effective tax rate | 27.4% | 32.2% | 244.2% | - | - | -538.5% |
| Return on assets | 1.2% | 2.1% | -0.4% | -3.7% | -2.6% | 0.9% |
| Return on equity | 2.0% | 3.7% | -0.7% | -5.8% | -3.7% | 1.3% |
| Return on invested capital | 2.5% | 4.7% | 1.8% | -2.0% | -2.0% | 0.7% |
| Liquidity | ||||||
| Current ratio | 2.75 | 2.33 | 1.56 | 1.55 | 1.90 | 1.88 |
| Quick ratio | 2.75 | 2.33 | 1.56 | 1.55 | 1.90 | 1.88 |
| Cash ratio | 1.49 | 1.21 | 0.74 | 0.63 | 0.91 | 1.04 |
| Leverage | ||||||
| Debt / Equity | 0.19 | 0.20 | 0.21 | 0.15 | 0.16 | 0.15 |
| Debt / Assets | 0.11 | 0.12 | 0.12 | 0.09 | 0.11 | 0.10 |
| Debt / EBITDA | 1.18 | 1.02 | 1.38 | 2.31 | 2.82 | 1.76 |
| Interest coverage | 2.0x | 3.8x | 3.0x | -2.2x | -2.1x | 0.4x |
| Equity multiplier | 1.66 | 1.71 | 1.70 | 1.58 | 1.41 | 1.44 |
| Liabilities / Assets | 0.40 | 0.41 | 0.41 | 0.37 | 0.29 | 0.30 |
| Efficiency | ||||||
| Asset turnover | 0.49 | 0.52 | 0.50 | 0.37 | 0.29 | 0.29 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 86d | 69d | 79d | 89d | 78d | 66d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 43d | 46d | 45d | 60d | 49d | 28d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 29.9x | 25.9x | - | - | - | 32.3x |
| P / B | 0.6x | 0.9x | 1.0x | 0.7x | 0.3x | 0.4x |
| P / S | 0.7x | 1.1x | 1.2x | 1.3x | 0.7x | 0.9x |
| EV / EBITDA | 3.1x | 4.6x | 6.7x | 11.8x | 5.1x | 4.1x |
| Growth | ||||||
| Revenue growth (YoY) | -4.9% | 5.3% | 47.7% | 29.4% | -8.0% | -2.4% |
| Revenue CAGR (3y) | 13.9% | 26.3% | 20.7% | 5.1% | 11.4% | 8.1% |
| Revenue CAGR (5y) | 12.0% | 12.6% | 21.5% | 8.5% | 6.7% | 1.1% |
| Gross profit growth (YoY) | -27.5% | 9.6% | 295.8% | 228.8% | -80.7% | -42.0% |
| Operating income growth (YoY) | -48.9% | 100.7% | - | 7.9% | - | -80.8% |
| Net income growth (YoY) | -44.6% | - | 87.7% | -42.7% | - | -61.7% |
| EPS growth (YoY) | -41.7% | - | 87.9% | -41.5% | - | -65.8% |
| EPS CAGR (3y) | - | - | - | - | - | -13.4% |
| EPS CAGR (5y) | 10.1% | -1.1% | - | - | - | - |
| FCF growth (YoY) | -26.0% | 22.5% | 654.8% | -86.6% | 67.8% | 172.6% |
| FCF CAGR (5y) | 8.9% | 41.4% | 17.4% | - | - | - |
| Book value growth (YoY) | 4.0% | 1.3% | -1.0% | -7.9% | -5.3% | 2.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.62B totalReportable Segment Aggregation Before Other Operating Segment$1.29B · 49.4%
Well Intervention$729.37M · 27.9%
Robotics$323.35M · 12.4%
Shallow Water Abandonment$199.63M · 7.6%
Production Facilities$72.69M · 2.8%
Product / service
$886.60M totalDecommissioning$507.98M · 57.3%
Production Maximization$211.59M · 23.9%
Renewables$157.23M · 17.7%
Service Other$9.80M · 1.1%
Geographic
$1.49B totalUS$494.54M · 33.3%
BR$354.51M · 23.9%
North Sea$272.25M · 18.3%
GB$194.30M · 13.1%
Africa$95.52M · 6.4%
Asia Pacific$68.42M · 4.6%
Other Geographic Location$6.23M · 0.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.48
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Oil & Gas Field Services, NEC
Comparing HELIX ENERGY SOLUTIONS GROUP INC against the 5 most active filers in the same SIC group.