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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $287.95M | - | $376.96M | $302.29M | $278.06M | - | $342.42M | $364.80M | $296.21M | - |
| Cost of Revenue | $279.12M | - | $310.94M | $287.34M | $250.53M | - | $276.75M | $289.31M | $276.66M | - |
| Gross Profit | $8.83M | - | $66.02M | $14.95M | $27.54M | - | $65.67M | $75.49M | $19.55M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $22.14M | - | $18.17M | $18.10M | $19.37M | - | $21.13M | $22.29M | $20.68M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $43.86M | - | $42.90M | $43.47M | $42.48M | - | - | - | $46.35M | - |
| Operating Income | ($13.31M) | - | $47.85M | ($3.15M) | $8.17M | - | $44.64M | $53.19M | ($1.28M) | - |
| Interest Expense | $8.20M | - | $8.24M | $8.25M | $8.78M | - | $8.41M | $8.40M | $8.78M | - |
| Income Tax | ($3.15M) | - | $19.17M | ($6.00M) | $453.0K | - | $9.52M | $14.72M | ($1.70M) | - |
| Net Income | ($13.41M) | - | $22.08M | ($2.60M) | $3.07M | - | $29.51M | $32.29M | ($26.29M) | - |
| EPS - Basic | ($0.09) | - | $0.15 | ($0.02) | $0.02 | - | $0.19 | $0.21 | ($0.17) | - |
| EPS - Diluted | ($0.09) | - | $0.15 | ($0.02) | $0.02 | - | $0.19 | $0.21 | ($0.17) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $501.27M | $445.20M | $338.03M | $319.74M | $369.99M | $368.03M | $324.12M | $275.07M | $323.85M | $332.19M |
| Accounts Receivable | $230.11M | $303.94M | $359.61M | $327.92M | $258.49M | $258.63M | $270.88M | $283.64M | $219.84M | $280.43M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $138.41M | $134.29M | $147.40M | $172.25M | $159.84M | $144.79M | $142.40M | $144.83M | $120.38M | $134.55M |
| Current Assets | $819.29M | $824.99M | $798.24M | $760.40M | $736.21M | $709.68M | $693.94M | $623.91M | $605.76M | $697.84M |
| Total Assets | $2.57B | $2.62B | $2.63B | $2.67B | $2.64B | $2.60B | $2.66B | $2.60B | $2.61B | $2.56B |
| Current Liabilities | $281.06M | $299.68M | $314.12M | $347.96M | $323.39M | $304.42M | $303.22M | $300.17M | $348.03M | $448.62M |
| Long-term Debt | $294.37M | $298.35M | $297.83M | $302.20M | $301.70M | $305.97M | $305.49M | $309.66M | $309.20M | $313.43M |
| Total Liabilities | $1.01B | $1.04B | $1.06B | $1.10B | $1.09B | $1.08B | $1.09B | $1.10B | $1.15B | $1.06B |
| Stockholders' Equity | $1.56B | $1.58B | $1.57B | $1.57B | $1.55B | $1.52B | $1.57B | $1.50B | $1.47B | $1.50B |
| Retained Earnings | $385.51M | $398.91M | $390.64M | $368.56M | $371.16M | $368.09M | $347.97M | $318.45M | $286.16M | $312.45M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $61.79M | - | - | - | $16.44M | - | - | - | $64.48M | - |
| Investing Cash Flow | ($2.81M) | - | - | - | ($4.49M) | - | - | - | ($3.24M) | - |
| Financing Cash Flow | ($4.34M) | - | - | - | ($11.07M) | - | - | - | ($69.30M) | - |
| CapEx | $2.81M | - | - | - | $4.49M | - | - | - | $3.60M | - |
| Free Cash Flow | $58.98M | - | - | - | $11.95M | - | - | - | $60.88M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 3.1% | - | 17.5% | 4.9% | 9.9% | - | 19.2% | 20.7% | 6.6% | - |
| Operating margin | -4.6% | - | 12.7% | -1.0% | 2.9% | - | 13.0% | 14.6% | -0.4% | - |
| EBITDA margin | 10.6% | - | 24.1% | 13.3% | 18.2% | - | - | - | 15.2% | - |
| Net margin | -4.7% | - | 5.9% | -0.9% | 1.1% | - | 8.6% | 8.9% | -8.9% | - |
| Free cash flow margin | 20.5% | - | - | - | 4.3% | - | - | - | 20.6% | - |
| FCF / Net income | -4.40 | - | - | - | 3.89 | - | - | - | -2.32 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 7.7% | - | 4.8% | 6.0% | 7.0% | - | 6.2% | 6.1% | 7.0% | - |
| Effective tax rate | - | - | 46.5% | - | 12.9% | - | 24.4% | 31.3% | - | - |
| Return on assets | -0.5% | - | 0.8% | -0.1% | 0.1% | - | 1.1% | 1.2% | -1.0% | - |
| Return on equity | -0.9% | - | 1.4% | -0.2% | 0.2% | - | 1.9% | 2.2% | -1.8% | - |
| Return on invested capital | -0.6% | - | 1.4% | -0.1% | 0.4% | - | 1.8% | 2.0% | -0.1% | - |
| Liquidity | ||||||||||
| Current ratio | 2.92 | 2.75 | 2.54 | 2.19 | 2.28 | 2.33 | 2.29 | 2.08 | 1.74 | 1.56 |
| Quick ratio | 2.92 | 2.75 | 2.54 | 2.19 | 2.28 | 2.33 | 2.29 | 2.08 | 1.74 | 1.56 |
| Cash ratio | 1.78 | 1.49 | 1.08 | 0.92 | 1.14 | 1.21 | 1.07 | 0.92 | 0.93 | 0.74 |
| Leverage | ||||||||||
| Debt / Equity | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.19 | 0.21 | 0.21 | 0.21 |
| Debt / Assets | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.11 | 0.12 | 0.12 | 0.12 |
| Debt / EBITDA | 9.64 | - | 3.28 | 7.50 | 5.96 | - | - | - | 6.86 | - |
| Interest coverage | -1.6x | - | 5.8x | -0.4x | 0.9x | - | 5.3x | 6.3x | -0.1x | - |
| Equity multiplier | 1.65 | 1.66 | 1.67 | 1.70 | 1.71 | 1.71 | 1.69 | 1.74 | 1.78 | 1.70 |
| Liabilities / Assets | 0.39 | 0.40 | 0.40 | 0.41 | 0.41 | 0.41 | 0.41 | 0.42 | 0.44 | 0.41 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.14 | 0.11 | 0.11 | - | 0.13 | 0.14 | 0.11 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 292d | - | 348d | 396d | 339d | - | 289d | 284d | 271d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 181d | - | 173d | 219d | 233d | - | 188d | 183d | 159d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 43.7x | - | 415.5x | - | 58.4x | 56.9x | - | - |
| P / B | 0.9x | - | 0.6x | 0.6x | 0.8x | - | 1.1x | 1.2x | 1.1x | - |
| P / S | 5.1x | - | 2.6x | 3.1x | 4.5x | - | 5.0x | 5.1x | 5.6x | - |
| EV / EBITDA | 40.9x | - | 10.2x | 22.5x | 23.6x | - | - | - | 36.3x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 3.6% | - | 10.1% | -17.1% | -6.1% | - | -13.5% | 18.1% | 18.4% | - |
| Revenue CAGR (3y) | 4.8% | - | 11.4% | 23.0% | 22.8% | - | 23.7% | 31.1% | 21.9% | - |
| Revenue CAGR (5y) | 12.0% | - | 14.3% | 8.7% | 9.0% | - | 10.0% | 12.6% | 12.2% | - |
| Gross profit growth (YoY) | -67.9% | - | 0.5% | -80.2% | 40.8% | - | -18.5% | 36.4% | 28.8% | - |
| Operating income growth (YoY) | - | - | 7.2% | - | - | - | 23.2% | 163.3% | 84.6% | - |
| Net income growth (YoY) | - | - | -25.2% | - | - | - | 89.7% | 354.8% | -408.9% | - |
| EPS growth (YoY) | - | - | -21.1% | - | - | - | 90.0% | 320.0% | -466.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | -1.3% | - | - | - | -2.0% | 13.8% | - | - |
| FCF growth (YoY) | 393.3% | - | - | - | -80.4% | - | - | - | - | - |
| FCF CAGR (5y) | 8.9% | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 0.8% | 4.0% | 0.3% | 4.8% | 5.3% | 1.3% | 2.6% | -2.3% | -3.2% | -1.0% |
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%
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.