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Helix Energy Solutions Group, Inc. (HLX) 10-Year Financial Performance & Capital Metrics

HLX • • Industrial / General
EnergyOilfield ServicesSubsea & Offshore EquipmentOffshore Marine Services
AboutHelix Energy Solutions Group, Inc., an offshore energy services company, provides specialty services to the offshore energy industry primarily in Brazil, the Gulf of Mexico, North Sea, the Asia Pacific, and West Africa regions. The company operates through three segments: Well Intervention, Robotics, and Production Facilities. It engages in the installation of flowlines, control umbilicals, and manifold assemblies and risers; trenching and burial of pipelines; installation and tie-in of riser and manifold assembly; commissioning, testing, and inspection activities; and provision of cable and umbilical lay, and connection services. The company also provides well intervention, intervention engineering, and production enhancement services; inspection, repair, and maintenance of production structures, trees, jumpers, risers, pipelines, and subsea equipment; and related support services. In addition, it offers reclamation and remediation services; well plug and abandonment services; pipeline abandonment services; and site inspections. Additionally, the company offers oil and natural gas processing facilities and services; and fast response system, as well as site clearance and subsea support services. It serves independent oil and gas producers and suppliers, pipeline transmission companies, renewable energy companies, and offshore engineering and construction firms. The company was formerly known as Cal Dive International, Inc. and changed its name to Helix Energy Solutions Group, Inc. in March 2006. Helix Energy Solutions Group, Inc. was incorporated in 1979 and is headquartered in Houston, Texas.Show more
  • Revenue $1.36B +5.3%
  • EBITDA $265M -2.0%
  • Net Income $56M +613.4%
  • EPS (Diluted) 0.36 +601.4%
  • Gross Margin 16.16% +4.0%
  • EBITDA Margin 19.48% -7.0%
  • Operating Margin 9.38% +14.2%
  • Net Margin 4.1% +587.4%
  • ROE 3.68% +612.8%
  • ROIC 5.43% +19.9%
  • Debt/Equity 0.44 +20.8%
  • Interest Coverage 3.76 -24.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 12.6%
  • ✓Trading at only 0.7x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.07%
5Y12.56%
3Y26.27%
TTM-1.95%

Profit (Net Income) CAGR

10Y-11.79%
5Y-0.8%
3Y-
TTM494.15%

EPS CAGR

10Y-15.1%
5Y-1.08%
3Y-
TTM606.75%

ROCE

10Y Avg-0.28%
5Y Avg1.58%
3Y Avg3.19%
Latest5.79%

Peer Comparison

Offshore Marine Services
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
HLXHelix Energy Solutions Group, Inc.1.06B7.20205.34%3.25%2.71%15.37%0.44
TDWTidewater Inc.2.89B58.3617.1633.25%11.14%13.32%8.51%0.57
VTOLBristow Group Inc.1.18B40.9512.769.1%9.56%13.75%1.07
VALValaris Limited3.81B54.7210.6932.42%16.51%16.28%0.52

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+695.8M487.58M581.38M739.82M751.91M733.55M674.73M873.1M1.29B1.36B
Revenue Growth %-0.37%-0.3%0.19%0.27%0.02%-0.02%-0.08%0.29%0.48%0.05%
Cost of Goods Sold+929.58M441.07M519.22M618.13M614.07M653.65M659.34M822.48M1.09B1.14B
COGS % of Revenue1.34%0.9%0.89%0.84%0.82%0.89%0.98%0.94%0.84%0.84%
Gross Profit+-233.77M46.52M62.17M121.68M137.84M79.91M15.39M50.62M200.36M219.56M
Gross Margin %-0.34%0.1%0.11%0.16%0.18%0.11%0.02%0.06%0.16%0.16%
Gross Profit Growth %-1.68%1.2%0.34%0.96%0.13%-0.42%-0.81%2.29%2.96%0.1%
Operating Expenses+57.28M65.93M63.26M70.29M69.84M66.88M63.45M76.75M94.43M92.13M
OpEx % of Revenue0.08%0.14%0.11%0.1%0.09%0.09%0.09%0.09%0.07%0.07%
Selling, General & Admin57.28M65.93M63.26M70.29M69.84M61.08M63.45M76.75M94.43M91.65M
SG&A % of Revenue0.08%0.14%0.11%0.1%0.09%0.08%0.09%0.09%0.07%0.07%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses000005.8M000479K
Operating Income+-307.36M-63.23M-1.13M51.54M68M13.03M-48.06M-26.14M105.93M127.44M
Operating Margin %-0.44%-0.13%-0%0.07%0.09%0.02%-0.07%-0.03%0.08%0.09%
Operating Income Growth %-2.17%0.79%0.98%46.61%0.32%-0.81%-4.69%0.46%5.05%0.2%
EBITDA+-186.96M50.95M107.61M162.06M180.72M146.73M93.46M116.55M270.05M264.64M
EBITDA Margin %-0.27%0.1%0.19%0.22%0.24%0.2%0.14%0.13%0.21%0.19%
EBITDA Growth %-1.5%1.27%1.11%0.51%0.12%-0.19%-0.36%0.25%1.32%-0.02%
D&A (Non-Cash Add-back)120.4M114.19M108.75M110.52M112.72M133.71M141.51M142.69M164.12M137.2M
EBIT-449.19M-60.59M996K47.99M76.5M30.74M-47.15M-55.01M28.87M115.97M
Net Interest Income+-26.91M-31.24M-18.78M-13.75M-8.33M-28.53M-23.2M-18.95M-17.34M-22.63M
Interest Income2.07M2.09M2.59M3.24M2.61M825K288K1.23M4.02M11.27M
Interest Expense28.98M33.33M21.37M16.99M10.94M29.36M23.49M20.18M21.36M33.9M
Other Income/Expense-170.81M-30.68M-19.24M-20.55M-2.44M-11.64M-22.59M-49.04M-98.42M-45.37M
Pretax Income+-478.17M-93.92M-20.37M31M65.56M1.38M-70.64M-75.18M7.51M82.06M
Pretax Margin %-0.69%-0.19%-0.04%0.04%0.09%0%-0.1%-0.09%0.01%0.06%
Income Tax+-101.19M-12.47M-50.42M2.4M7.86M-18.7M-8.96M12.6M18.35M26.43M
Effective Tax Rate %0.79%0.87%-1.48%0.92%0.88%16.03%0.87%1.17%-1.44%0.68%
Net Income+-376.98M-81.44M30.05M28.6M57.92M22.17M-61.68M-87.78M-10.84M55.64M
Net Margin %-0.54%-0.17%0.05%0.04%0.08%0.03%-0.09%-0.1%-0.01%0.04%
Net Income Growth %-2.93%0.78%1.37%-0.05%1.03%-0.62%-3.78%-0.42%0.88%6.13%
Net Income (Continuing)-376.98M-81.44M30.05M28.6M57.7M20.08M-61.68M-87.78M-10.84M55.64M
Discontinued Operations0000000000
Minority Interest00003.46M3.85M0000
EPS (Diluted)+-3.58-0.730.200.190.380.13-0.41-0.58-0.070.36
EPS Growth %-2.94%0.8%1.27%-0.05%1%-0.66%-4.15%-0.41%0.88%6.01%
EPS (Basic)-3.58-0.730.200.190.390.13-0.41-0.58-0.070.37
Diluted Shares Outstanding105.42M111.61M145.3M146.83M149.58M149.9M150.06M151.28M150.92M154.7M
Basic Shares Outstanding105.3M111.57M145.29M146.7M147.54M148.99M150.06M151.28M150.92M151.99M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+684.03M522.78M451.64M450.93M438.47M502.12M529.54M460.59M697.84M709.68M
Cash & Short-Term Investments494.19M356.65M266.59M279.46M208.43M291.32M253.51M186.6M332.19M368.03M
Cash Only494.19M356.65M266.59M279.46M208.43M291.32M253.51M186.6M332.19M368.03M
Short-Term Investments0000000000
Accounts Receivable114.59M112.15M143.28M125.7M126.2M185.25M174.7M219.07M286.25M273.49M
Days Sales Outstanding60.1183.9689.9562.0261.2692.1894.591.5881.0173.48
Inventory4.99M2.55M-311K-863K54.13M002.51M00
Days Inventory Outstanding1.962.11--32.17--1.11--
Other Current Assets54.69M27.46M31.67M35.46M37.08M9.65M83.1M25.8M51.05M41.39M
Total Non-Current Assets+1.73B1.72B1.91B1.9B2.16B2B1.8B1.93B1.86B1.89B
Property, Plant & Equipment1.6B1.65B1.81B1.83B2.07B1.93B1.76B1.84B1.74B1.77B
Fixed Asset Turnover0.43x0.30x0.32x0.40x0.36x0.38x0.38x0.47x0.74x0.77x
Goodwill45.11M0007.16M00000
Intangible Assets781K001.4M3.85M3.81M3.47M4.46M4.11M3.63M
Long-Term Investments26.2M3.28M4.41M201K27.26M0024.83M25.62M24.83M
Other Non-Current Assets28K55.95M100.79M70.06M73.5M59.73M31.18M9.71M86.39M91.44M
Total Assets+2.41B2.25B2.36B2.35B2.6B2.5B2.33B2.39B2.56B2.6B
Asset Turnover0.29x0.22x0.25x0.32x0.29x0.29x0.29x0.37x0.50x0.52x
Asset Growth %-0.11%-0.07%0.05%-0.01%0.11%-0.04%-0.07%0.03%0.07%0.02%
Total Current Liabilities+210.91M186.4M265.64M191.49M284.96M279.31M278.28M297.95M448.62M304.42M
Accounts Payable65.37M60.21M81.3M54.81M69.06M50.02M87.96M135.27M134.55M144.79M
Days Payables Outstanding25.6749.8357.1532.3741.0527.9348.6960.0345.0846.4
Short-Term Debt71.64M67.57M109.86M47.25M99.73M142.25M42.87M38.2M48.29M9.19M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities44.02M29M28.39M32.41M19.4M54.13M54.78M0109.4M0
Current Ratio3.24x2.80x1.70x2.35x1.54x1.80x1.90x1.55x1.56x2.33x
Quick Ratio3.22x2.79x1.70x2.36x1.35x1.80x1.90x1.54x1.56x2.33x
Cash Conversion Cycle36.436.24--52.39--32.67--
Total Non-Current Liabilities+922.08M778.73M529.8M538.46M612.18M474.62M400.28M574.67M606.42M772.9M
Long-Term Debt677.7M558.4M385.77M393.06M306.12M258.91M262.14M225.88M313.43M305.97M
Capital Lease Obligations0000151.83M101.01M50.2M154.69M116.19M285.98M
Deferred Tax Liabilities180.97M167.35M103.35M105.86M112.13M110.82M86.97M98.88M110.56M113.97M
Other Non-Current Liabilities51.41M52.98M40.69M18.72M33.81M2.01M499K95.23M66.25M66.27M
Total Liabilities1.13B965.13M795.44M729.95M897.14M753.93M678.56M872.63M1.06B1.08B
Total Debt+761.33M625.97M495.63M440.31M611.47M502.17M410.95M469.68M540.57M661.12M
Net Debt267.14M269.32M229.03M160.86M403.03M210.85M157.43M283.07M208.38M293.09M
Debt / Equity0.60x0.49x0.32x0.27x0.36x0.29x0.25x0.31x0.36x0.44x
Debt / EBITDA-12.29x4.61x2.72x3.38x3.42x4.40x4.03x2.00x2.50x
Net Debt / EBITDA-5.29x2.13x0.99x2.23x1.44x1.68x2.43x0.77x1.11x
Interest Coverage-10.61x-1.90x-0.05x3.03x6.22x0.44x-2.05x-1.30x4.96x3.76x
Total Equity+1.28B1.28B1.57B1.62B1.7B1.74B1.65B1.52B1.5B1.52B
Equity Growth %-0.23%0%0.22%0.03%0.05%0.02%-0.06%-0.08%-0.01%0.01%
Book Value per Share12.1311.4810.7911.0211.3911.6410.9810.039.959.82
Total Shareholders' Equity1.28B1.28B1.57B1.62B1.7B1.74B1.65B1.52B1.5B1.52B
Common Stock945.57M1.06B1.28B1.31B1.32B1.33B1.29B1.3B1.27B1.25B
Retained Earnings404.3M322.85M352.91M383.03M445.37M464.52M411.07M323.29M312.45M368.09M
Treasury Stock0000000000
Accumulated OCI-70.9M-96.97M-69.79M-73.96M-64.74M-51.62M-56.08M-105.32M-83.02M-100.58M
Minority Interest00003.46M3.85M0000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+110.81M38.71M51.64M196.74M169.67M98.8M140.12M51.11M152.46M186.03M
Operating CF Margin %0.16%0.08%0.09%0.27%0.23%0.13%0.21%0.06%0.12%0.14%
Operating CF Growth %-0.69%-0.65%0.33%2.81%-0.14%-0.42%0.42%-0.64%1.98%0.22%
Net Income-376.98M-81.44M30.05M28.6M57.92M20.08M-61.68M-87.78M-10.84M55.64M
Depreciation & Amortization120.4M114.19M108.75M110.52M122.58M133.71M141.51M128.72M164.12M137.2M
Stock-Based Compensation6.54M5.86M10.88M9.93M11.47M8.57M7.69M7.45M6.51M7.27M
Deferred Taxes-103.02M14.85M-54.59M-2.43M0-3.88M-15.2M4.39M11.53M10.61M
Other Non-Cash Items515.56M54.36M9.22M11.96M-37.89M3.22M6.2M10.61M89.97M-33.22M
Working Capital Changes-51.7M-69.1M-52.67M38.17M15.59M-62.9M61.6M-12.28M-108.83M8.54M
Change in Receivables36.35M-22.44M-28.42M20.92M-3.05M-8.42M-14.15M-29.86M-64.52M13.74M
Change in Inventory492K-6.96M-11.73M-8.94M0-10.83M0000
Change in Payables-63.82M-630K33.38M-352K010.83M46.65M9.81M32M-9.16M
Cash from Investing+-295.72M-147.11M-221.13M-136.01M-142.38M-19.28M-8.27M-138.29M-18.66M-22.84M
Capital Expenditures-320.31M-186.49M-231.13M-137.08M-140.85M-20.24M-8.32M-33.5M-19.59M-23.3M
CapEx % of Revenue0.46%0.38%0.4%0.19%0.19%0.03%0.01%0.04%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing24.59M13.18M10M1.07M2.55M051K7.84M929K463K
Cash from Financing+204.63M-25.52M77.48M-46.19M-45.82M-52.58M-96M-44.84M25.11M-125.31M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing1.75M367K-1.61M-901K-1.12M-5.26M-5.04M-1.91M8M-26.22M
Net Change in Cash----------
Free Cash Flow+-209.51M-147.77M-179.49M59.66M28.81M78.56M131.79M17.6M132.87M162.72M
FCF Margin %-0.3%-0.3%-0.31%0.08%0.04%0.11%0.2%0.02%0.1%0.12%
FCF Growth %-10.28%0.29%-0.21%1.33%-0.52%1.73%0.68%-0.87%6.55%0.22%
FCF per Share-1.99-1.32-1.240.410.190.520.880.120.881.05
FCF Conversion (FCF/Net Income)-0.29x-0.48x1.72x6.88x2.93x4.46x-2.27x-0.58x-14.07x3.34x
Interest Paid00001.91M15.94M20.72M18.27M20.98M25.45M
Taxes Paid000007.43M8.31M9.52M7.39M14.12M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-25.71%-6.36%2.11%1.8%3.49%1.29%-3.64%-5.55%-0.72%3.68%
Return on Invested Capital (ROIC)-14.08%-3.06%-0.05%2.16%2.63%0.48%-1.92%-1.09%4.53%5.43%
Gross Margin-33.6%9.54%10.69%16.45%18.33%10.89%2.28%5.8%15.53%16.16%
Net Margin-54.18%-16.7%5.17%3.87%7.7%3.02%-9.14%-10.05%-0.84%4.1%
Debt / Equity0.60x0.49x0.32x0.27x0.36x0.29x0.25x0.31x0.36x0.44x
Interest Coverage-10.61x-1.90x-0.05x3.03x6.22x0.44x-2.05x-1.30x4.96x3.76x
FCF Conversion-0.29x-0.48x1.72x6.88x2.93x4.46x-2.27x-0.58x-14.07x3.34x
Revenue Growth-37.15%-29.93%19.24%27.25%1.63%-2.44%-8.02%29.4%47.72%5.34%

Revenue by Segment

2015201620172018201920202021202220232024
Renewables---------152.31M
Renewables Growth----------
Service, Other---------14.79M
Service, Other Growth----------
Well Intervention373.3M294M406.34M199.29M214.93M206.81M308.73M395.87M732.76M-
Well Intervention Growth--21.24%38.21%-50.95%7.84%-3.78%49.28%28.22%85.10%-
Robotics301.03M160.58M152.75M89.07M94.5M117.44M89.67M97.53M257.88M-
Robotics Growth--46.66%-4.87%-41.69%6.10%24.27%-23.65%8.77%164.40%-
Production Facilities75.95M72.36M64.35M-61.21M58.3M69.35M82.31M87.89M-
Production Facilities Growth--4.73%-11.06%---4.75%18.94%18.70%6.77%-
Other----------
Other Growth----------

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES298.39M298.28M283.93M271.26M297.16M304.56M---542.86M
UNITED STATES Growth--0.04%-4.81%-4.46%9.55%2.49%----
North Sea263.44M137.31M159.96M-----274.75M249.97M
North Sea Growth--47.88%16.49%-------9.02%
Asia Pacific--------163.96M222.12M
Asia Pacific Growth---------35.47%
BRAZIL--70.71M208.05M216.8M208.56M---185.54M
BRAZIL Growth---194.24%4.20%-3.80%----
Other------60.73M89.49M20.78M86.11M
Other Growth-------47.35%-76.78%314.45%
Africa---------71.96M
Africa Growth----------
United States------232.66M447.2M644.75M-
United States Growth-------92.21%44.17%-
Brazil------154.33M81.94M177.07M-
Brazil Growth--------46.90%116.10%-
West Africa------126.86M87.49M8.42M-
West Africa Growth--------31.03%-90.37%-
Other Geographic Location---66.07M44.05M87.42M----
Other Geographic Location Growth-----33.33%98.47%----
Other Geographic Region133.97M51.99M66.78M-------
Other Geographic Region Growth--61.19%28.45%-------

Frequently Asked Questions

Valuation & Price

Helix Energy Solutions Group, Inc. (HLX) has a price-to-earnings (P/E) ratio of 20.0x. This is roughly in line with market averages.

Growth & Financials

Helix Energy Solutions Group, Inc. (HLX) reported $1.31B in revenue for fiscal year 2024. This represents a 6% decrease from $1.40B in 2011.

Helix Energy Solutions Group, Inc. (HLX) grew revenue by 5.3% over the past year. This is steady growth.

Yes, Helix Energy Solutions Group, Inc. (HLX) is profitable, generating $42.7M in net income for fiscal year 2024 (4.1% net margin).

Dividend & Returns

Helix Energy Solutions Group, Inc. (HLX) has a return on equity (ROE) of 3.7%. This is below average, suggesting room for improvement.

Helix Energy Solutions Group, Inc. (HLX) generated $78.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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