Helix Energy Solutions Group (HLX) Financials

$9.85 -0.01 (-0.05%)

Closing price 03:59 PM Eastern

Extended Trading

$9.76 -0.09 (-0.87%)

As of 06:12 PM Eastern

Annual Income Statements for Helix Energy Solutions Group

This table shows Helix Energy Solutions Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-377	-81	30	29	58	22	-62	-88	-11	56	31
Consolidated Net Income / (Loss)	-377	-81	30	29	58	20	-62	-88	-11	56	31
Net Income / (Loss) Continuing Operations	-377	-81	30	29	58	20	-62	-88	-11	56	31
Total Pre-Tax Income	-478	-94	-20	31	66	1.38	-71	-75	7.51	82	42
Total Operating Income	-307	-63	-1.13	52	68	13	-49	-45	64	127	65
Total Gross Profit	-234	47	62	122	138	80	15	51	200	220	159
Total Revenue	696	488	581	740	752	734	675	873	1,290	1,359	1,291
Operating Revenue	696	488	581	740	752	734	675	873	1,290	1,359	1,291
Total Cost of Revenue	930	441	519	618	614	654	659	822	1,089	1,139	1,132
Operating Cost of Revenue	930	441	519	618	614	654	659	822	1,089	1,139	1,132
Total Operating Expenses	74	110	63	70	70	67	64	95	137	92	94
Selling, General & Admin Expense	57	66	63	70	70	61	63	77	94	92	76
Impairment Charge	16	45	-	0.00	0.00	6.69	-	-	0.00	0.00	18
Restructuring Charge	-	-	-	-	-	0.00	0.00	2.66	0.54	0.00	0.00
Other Special Charges / (Income)	-0.09	-1.29	0.04	-0.15	0.00	-0.89	0.63	16	42	0.48	0.00
Total Other Income / (Expense), net	-171	-31	-19	-21	-2.44	-12	-22	-30	-56	-45	-23
Interest Expense	-	3.54	0.40	1.18	0.02	-9.24	0.14	0.00	37	21	0.00
Interest & Investment Income	-151	-33	-21	-18	-3.59	-28	-20	-7.00	-15	-21	-21
Other Income / (Expense), net	-20	6.27	2.30	-1.69	1.17	7.43	-1.49	-23	-3.59	-3.92	-1.39
Income Tax Expense	-101	-12	-50	2.40	7.86	-19	-8.96	13	18	26	12
Basic Earnings per Share	($3.58)	($0.73)	$0.20	$0.19	$0.39	$0.13	($0.41)	($0.58)	($0.07)	$0.37	$0.21
Weighted Average Basic Shares Outstanding	105.42M	111.61M	145.30M	146.70M	147.54M	148.99M	150.06M	151.28M	150.92M	151.99M	148.35M
Diluted Earnings per Share	($3.58)	($0.73)	$0.20	$0.19	$0.38	$0.13	($0.41)	($0.58)	($0.07)	$0.36	$0.21
Weighted Average Diluted Shares Outstanding	105.42M	111.61M	145.30M	146.83M	149.58M	149.90M	150.06M	151.28M	150.92M	154.70M	148.45M
Weighted Average Basic & Diluted Shares Outstanding	105.30M	111.60M	150.30M	150.50M	149.96M	150.71M	151.64M	152.15M	152.42M	150.94M	147.30M

This table shows Helix Energy Solutions Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	16	-28	-26	32	30	20	3.07	-2.60	22	8.27	-13
Consolidated Net Income / (Loss)	16	-28	-26	32	30	20	3.07	-2.60	22	8.27	-13
Net Income / (Loss) Continuing Operations	16	-28	-26	32	30	20	3.07	-2.60	22	8.27	-13
Total Pre-Tax Income	24	-20	-28	47	39	24	3.53	-8.60	41	6.30	-17
Total Operating Income	36	15	-1.28	53	45	31	8.17	-3.15	48	12	-13
Total Gross Profit	81	49	20	75	66	59	28	15	66	51	8.83
Total Revenue	396	335	296	365	342	355	278	302	377	334	288
Operating Revenue	396	335	296	365	342	355	278	302	377	334	288
Total Cost of Revenue	315	286	277	289	277	296	251	287	311	284	279
Operating Cost of Revenue	315	286	277	289	277	296	251	287	311	284	279
Total Operating Expenses	44	34	21	22	21	28	19	18	18	38	22
Selling, General & Admin Expense	28	23	21	22	21	28	19	18	18	20	22
Total Other Income / (Expense), net	-12	-35	-27	-6.18	-5.61	-6.88	-4.65	-5.44	-6.60	-5.97	-3.24
Interest & Investment Income	-4.07	-4.68	-3.57	-5.89	-5.56	-5.51	-5.71	-5.88	-5.62	-5.48	-5.23
Other Income / (Expense), net	-8.26	6.96	-2.22	-0.29	-0.05	-1.37	1.06	0.44	-0.98	-0.49	1.99
Income Tax Expense	8.34	8.72	-1.70	15	9.52	3.88	0.45	-6.00	19	-1.97	-3.15
Basic Earnings per Share	$0.10	($0.19)	($0.17)	$0.21	$0.19	$0.14	$0.02	($0.02)	$0.15	$0.06	($0.09)
Weighted Average Basic Shares Outstanding	150.55M	150.92M	152.37M	152.23M	151.91M	151.99M	151.04M	148.52M	146.91M	148.35M	147.16M
Diluted Earnings per Share	$0.10	($0.19)	($0.17)	$0.21	$0.19	$0.13	$0.02	($0.02)	$0.15	$0.06	($0.09)
Weighted Average Diluted Shares Outstanding	153.62M	150.92M	152.37M	155.02M	154.85M	154.70M	152.17M	148.52M	147.70M	148.45M	147.16M
Weighted Average Basic & Diluted Shares Outstanding	150.71M	152.42M	152.45M	152.05M	152.10M	150.94M	151.53M	146.99M	147.08M	147.30M	147.30M

This table details how cash moves in and out of Helix Energy Solutions Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	18	-138	-92	13	-19	29	36	-138	143	36	77
Net Cash From Operating Activities	111	39	52	197	170	99	140	51	152	186	137
Net Cash From Continuing Operating Activities	111	39	52	197	170	99	140	51	152	186	137
Net Income / (Loss) Continuing Operations	-377	-81	30	29	58	20	-62	-88	-11	56	31
Consolidated Net Income / (Loss)	-377	-81	30	29	58	20	-62	-88	-11	56	31
Depreciation Expense	120	114	109	111	113	134	142	129	138	137	135
Amortization Expense	12	14	11	9.33	9.86	10	3.18	16	28	38	55
Non-Cash Adjustments To Reconcile Net Income	492	55	14	16	9.42	-2.24	-4.49	-14	-11	-64	-27
Changes in Operating Assets and Liabilities, net	-136	-63	-112	32	-20	-63	62	8.16	7.47	19	-57
Net Cash From Investing Activities	-296	-147	-221	-136	-142	-19	-8.27	-138	-19	-23	-16
Net Cash From Continuing Investing Activities	-296	-147	-221	-136	-142	-19	-8.27	-138	-19	-23	-16
Purchase of Property, Plant & Equipment	-320	-186	-231	-137	-141	-20	-8.32	-34	-20	-23	-16
Sale of Property, Plant & Equipment	18	13	10	0.03	2.55	0.96	0.05	0.00	0.37	0.10	0.00
Other Investing Activities, net	-	0.00	0.00	1.04	-	-	0.00	0.00	0.56	0.36	0.00
Net Cash From Financing Activities	205	-26	77	-46	-46	-53	-96	-45	25	-125	-45
Net Cash From Continuing Financing Activities	205	-26	77	-46	-46	-42	-96	-45	25	-125	-45
Repayment of Debt	-48	-247	-240	-170	-80	-237	-92	-44	-276	-71	-9.19
Repurchase of Common Equity	-	-	-	-	0.00	0.00	-2.36	0.00	-12	-30	-30
Issuance of Debt	250	125	100	125	35	200	0.00	0.00	299	0.00	0.00
Issuance of Common Equity	3.48	97	220	0.51	0.46	0.62	0.65	0.58	0.98	1.86	1.75
Other Financing Activities, net	-1.12	-0.34	-2.04	-1.41	-1.68	-5.26	-2.00	-1.90	14	-27	-7.40
Effect of Exchange Rate Changes	-2.01	-3.63	-	-1.68	-	1.82	-0.04	-5.99	-16	-2.04	1.82

This table details how cash moves in and out of Helix Energy Solutions Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-14	164	-8.34	-49	49	44	1.96	-50	18	107	56
Net Cash From Operating Activities	32	95	64	-12	56	78	16	-17	24	113	62
Net Cash From Continuing Operating Activities	32	95	64	-12	56	78	16	-17	24	113	62
Net Income / (Loss) Continuing Operations	16	-28	-26	32	30	20	3.07	-2.60	22	8.27	-13
Consolidated Net Income / (Loss)	16	-28	-26	32	30	20	3.07	-2.60	22	8.27	-13
Depreciation Expense	43	18	37	43	43	4.47	33	34	34	34	34
Amortization Expense	0.64	26	10	0.59	0.56	37	9.79	12	22	11	11
Non-Cash Adjustments To Reconcile Net Income	10	-27	15	1.98	-1.59	-90	-17	-15	-12	17	-8.06
Changes in Operating Assets and Liabilities, net	-38	105	28	-90	-16	106	-13	-45	-42	43	39
Net Cash From Investing Activities	-8.25	-2.86	-3.24	-3.99	-3.09	-13	-4.49	-4.47	-1.69	-5.70	-2.81
Net Cash From Continuing Investing Activities	-8.25	-2.86	-3.24	-3.99	-3.09	-13	-4.49	-4.47	-1.69	-5.70	-2.81
Purchase of Property, Plant & Equipment	-8.25	-3.42	-3.61	-3.99	-3.19	-13	-4.49	-4.47	-1.69	-5.70	-2.81
Net Cash From Financing Activities	-36	76	-69	-32	-4.05	-20	-11	-30	-4.14	-0.14	-4.34
Net Cash From Continuing Financing Activities	-36	76	-69	-32	-4.05	-20	-11	-30	-4.14	-0.14	-4.34
Repayment of Debt	-35	-237	-66	-0.13	-4.79	-0.08	-4.54	-	-4.65	-	-4.76
Issuance of Common Equity	0.39	-	0.50	0.62	0.74	-	0.73	0.51	0.51	-	0.49
Other Financing Activities, net	-	15	0.38	-27	-	-0.23	-7.27	-	-	-0.14	-0.07
Effect of Exchange Rate Changes	-1.34	-4.54	-0.28	-0.41	0.46	-1.81	1.08	1.06	-0.16	-0.17	1.44

This table presents Helix Energy Solutions Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,400	2,247	2,363	2,348	2,597	2,498	2,326	2,389	2,556	2,597	2,616
Total Current Assets	684	523	452	451	438	526	530	461	698	710	825
Cash & Equivalents	494	357	267	279	208	291	254	187	332	368	445
Accounts Receivable	97	112	143	120	125	132	144	213	280	259	304
Other Current Assets	40	37	42	52	50	102	58	59	85	83	76
Plant, Property, & Equipment, net	1,603	1,652	1,806	1,827	1,873	1,783	1,658	1,642	1,573	1,438	1,362
Plant, Property & Equipment, gross	2,545	2,451	2,696	2,786	2,922	2,949	2,938	3,016	3,079	3,069	3,157
Accumulated Depreciation	942	799	890	959	1,050	1,166	1,281	1,375	1,506	1,631	1,794
Total Noncurrent Assets	113	73	105	70	286	190	139	287	285	450	428
Other Noncurrent Operating Assets	42	73	105	70	286	190	139	287	285	450	428
Total Liabilities & Shareholders' Equity	2,400	2,247	2,363	2,348	2,597	2,498	2,326	2,389	2,556	2,597	2,616
Total Liabilities	1,121	965	795	730	894	754	679	873	1,055	1,077	1,036
Total Current Liabilities	211	186	266	191	285	279	278	298	449	304	300
Short-Term Debt	72	68	110	47	100	91	43	38	48	9.19	9.64
Accounts Payable	65	60	81	55	69	50	88	135	135	145	134
Accrued Expenses	72	59	72	86	62	87	92	74	203	90	95
Other Current Liabilities	-	-	-	0.00	54	52	56	51	63	60	61
Total Noncurrent Liabilities	910	779	530	538	609	475	400	575	606	773	736
Long-Term Debt	678	558	386	393	306	259	262	226	313	306	298
Noncurrent Deferred & Payable Income Tax Liabilities	181	167	103	106	112	111	87	99	111	114	106
Other Noncurrent Operating Liabilities	51	53	41	40	190	105	51	250	182	353	332
Commitments & Contingencies	0.00	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,279	1,282	1,567	1,618	1,700	1,740	1,647	1,517	1,501	1,520	1,580
Total Preferred & Common Equity	1,279	1,282	1,567	1,618	1,700	1,740	1,647	1,517	1,501	1,520	1,580
Total Common Equity	1,279	1,282	1,567	1,618	1,700	1,740	1,647	1,517	1,501	1,520	1,580
Common Stock	946	1,056	1,284	1,309	1,319	1,328	1,292	1,299	1,272	1,252	1,218
Retained Earnings	404	323	353	383	445	465	411	323	312	368	399
Accumulated Other Comprehensive Income / (Loss)	-71	-97	-70	-74	-65	-52	-56	-105	-83	-101	-37

This table presents Helix Energy Solutions Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,355	2,369	2,424	2,435	2,614	2,597	2,661	2,635	2,673	2,632	2,568
Total Current Assets	476	449	512	555	606	624	694	736	760	798	819
Cash & Equivalents	162	167	183	168	324	275	324	370	320	338	501
Accounts Receivable	228	217	253	308	220	284	271	258	328	360	230
Other Current Assets	83	63	76	79	62	65	99	108	113	101	88
Plant, Property, & Equipment, net	1,608	1,626	1,609	1,575	1,530	1,501	1,511	1,434	1,454	1,407	1,320
Plant, Property & Equipment, gross	2,946	3,037	3,059	3,050	3,067	3,074	3,137	3,114	3,199	3,173	3,137
Accumulated Depreciation	1,338	1,410	1,450	1,475	1,538	1,573	1,626	1,679	1,745	1,766	1,817
Total Noncurrent Assets	272	294	303	305	478	472	456	464	458	426	429
Other Noncurrent Operating Assets	272	294	303	305	478	472	456	464	458	426	429
Total Liabilities & Shareholders' Equity	2,355	2,369	2,424	2,435	2,614	2,597	2,661	2,635	2,673	2,632	2,568
Total Liabilities	874	854	892	904	1,147	1,100	1,091	1,090	1,104	1,057	1,011
Total Current Liabilities	330	288	383	390	348	300	303	323	348	314	281
Short-Term Debt	38	38	38	8.75	8.97	8.97	9.19	9.41	9.41	9.64	9.39
Accounts Payable	132	134	146	142	120	145	142	160	172	147	138
Accrued Expenses	112	61	143	178	164	89	92	91	105	99	69
Other Current Liabilities	48	54	56	61	55	58	60	64	62	58	64
Total Noncurrent Liabilities	543	566	509	514	799	800	787	766	756	743	730
Long-Term Debt	225	222	222	219	309	310	305	302	302	298	294
Noncurrent Deferred & Payable Income Tax Liabilities	97	98	100	106	110	120	124	113	115	118	105
Other Noncurrent Operating Liabilities	220	246	187	190	380	370	358	351	339	327	331
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,482	1,516	1,532	1,531	1,467	1,497	1,571	1,545	1,569	1,575	1,557
Total Preferred & Common Equity	1,482	1,516	1,532	1,531	1,467	1,497	1,571	1,545	1,569	1,575	1,557
Total Common Equity	1,482	1,516	1,532	1,531	1,467	1,497	1,571	1,545	1,569	1,575	1,557
Common Stock	1,297	1,294	1,291	1,291	1,270	1,268	1,270	1,247	1,219	1,222	1,220
Retained Earnings	321	318	325	341	286	318	348	371	369	391	386
Accumulated Other Comprehensive Income / (Loss)	-136	-97	-85	-101	-90	-89	-48	-73	-19	-37	-49

This table displays calculated financial ratios and metrics derived from Helix Energy Solutions Group's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-37.15%	-29.93%	19.24%	27.25%	1.63%	-2.44%	-8.02%	29.40%	47.72%	5.34%	-4.94%
EBITDA Growth	-148.81%	136.36%	70.43%	40.53%	12.99%	-14.31%	-42.48%	-18.71%	194.84%	32.06%	-15.28%
EBIT Growth	-216.96%	82.57%	102.06%	4,157.05%	38.74%	-70.42%	-345.26%	-35.89%	187.88%	106.13%	-48.39%
NOPAT Growth	-210.35%	79.43%	98.21%	6,111.67%	25.85%	216.06%	-118.02%	7.87%	-191.75%	194.31%	-45.29%
Net Income Growth	-292.78%	78.40%	136.90%	-4.84%	101.75%	-65.19%	-407.13%	-42.31%	87.65%	613.35%	-44.59%
EPS Growth	-293.51%	79.61%	127.40%	-5.00%	100.00%	-65.79%	-415.38%	-41.46%	87.93%	614.29%	-41.67%
Operating Cash Flow Growth	-69.18%	-65.06%	33.38%	281.01%	-13.76%	-41.77%	41.82%	-63.52%	198.30%	22.02%	-26.49%
Free Cash Flow Firm Growth	-305.03%	39.38%	-181.26%	126.55%	-112.02%	3,063.92%	-38.53%	-98.41%	-1,435.81%	592.52%	-52.38%
Invested Capital Growth	-4.49%	2.87%	15.81%	-0.99%	3.81%	-2.37%	-9.83%	-2.07%	-3.84%	-4.16%	-1.65%
Revenue Q/Q Growth	-6.64%	-5.73%	6.45%	-0.66%	1.68%	-1.46%	1.32%	15.81%	3.81%	1.49%	-1.60%
EBITDA Q/Q Growth	-205.83%	128.07%	65.26%	-6.16%	7.62%	5.89%	-28.30%	107.17%	8.84%	0.45%	-5.39%
EBIT Q/Q Growth	-658.26%	85.22%	102.33%	-20.06%	21.81%	17.86%	-263.36%	33.88%	31.41%	4.18%	-21.76%
NOPAT Q/Q Growth	-473.62%	83.11%	97.85%	-62.86%	24.04%	294.32%	-132.02%	32.64%	-441.24%	313.17%	-20.41%
Net Income Q/Q Growth	-1,181.81%	81.10%	140.10%	-69.22%	60.20%	-15.97%	-94.84%	24.58%	-153.64%	674.56%	-27.77%
EPS Q/Q Growth	-1,184.85%	82.15%	133.33%	-68.85%	58.33%	-18.75%	-86.36%	24.68%	-150.00%	800.00%	-25.00%
Operating Cash Flow Q/Q Growth	13.82%	-55.41%	-5.41%	14.96%	24.95%	-28.62%	-13.20%	152.25%	41.91%	-8.26%	34.64%
Free Cash Flow Firm Q/Q Growth	41.68%	-310.43%	-51.83%	106.17%	-31.69%	359.98%	13.03%	-94.01%	-268.30%	205.00%	-6.23%
Invested Capital Q/Q Growth	-17.92%	1.15%	8.30%	1.34%	2.04%	-0.23%	-2.40%	0.70%	-3.70%	-6.04%	-6.58%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-33.60%	9.54%	10.69%	16.45%	18.33%	10.89%	2.28%	5.80%	15.53%	16.16%	12.32%
EBITDA Margin	-28.01%	14.53%	20.77%	22.94%	25.50%	22.40%	14.01%	8.80%	17.56%	22.02%	19.62%
Operating Margin	-44.17%	-12.97%	-0.19%	6.97%	9.04%	1.78%	-7.22%	-5.14%	4.92%	9.38%	5.04%
EBIT Margin	-46.98%	-11.68%	0.20%	6.74%	9.20%	2.79%	-7.44%	-7.81%	4.65%	9.09%	4.94%
Profit (Net Income) Margin	-54.18%	-16.70%	5.17%	3.87%	7.67%	2.74%	-9.14%	-10.05%	-0.84%	4.10%	2.39%
Tax Burden Percent	78.84%	86.72%	-147.52%	92.26%	88.01%	1,452.21%	87.32%	116.76%	-144.24%	67.80%	72.57%
Interest Burden Percent	146.27%	164.85%	-1,739.71%	62.18%	94.79%	6.76%	140.79%	110.26%	12.54%	66.44%	66.64%
Effective Tax Rate	0.00%	0.00%	0.00%	7.74%	11.99%	-1,352.21%	0.00%	0.00%	244.24%	32.20%	27.43%
Return on Invested Capital (ROIC)	-13.94%	-2.89%	-0.05%	2.66%	3.30%	10.37%	-1.99%	-1.95%	-5.87%	5.76%	3.25%
ROIC Less NNEP Spread (ROIC-NNEP)	-223.83%	-17.82%	12.33%	-7.06%	1.89%	-157.41%	-154.80%	-215.34%	148.72%	269.33%	20.55%
Return on Net Nonoperating Assets (RNNOA)	-11.77%	-3.47%	2.16%	-0.86%	0.17%	-9.20%	-1.65%	-3.60%	5.15%	-2.08%	-1.26%
Return on Equity (ROE)	-25.71%	-6.36%	2.11%	1.80%	3.47%	1.17%	-3.64%	-5.55%	-0.72%	3.68%	1.99%
Cash Return on Invested Capital (CROIC)	-9.35%	-5.72%	-14.70%	3.66%	-0.43%	12.77%	8.35%	0.14%	-1.95%	10.01%	4.91%
Operating Return on Assets (OROA)	-12.82%	-2.45%	0.05%	2.12%	2.80%	0.80%	-2.08%	-2.89%	2.42%	4.79%	2.45%
Return on Assets (ROA)	-14.78%	-3.51%	1.30%	1.21%	2.33%	0.79%	-2.56%	-3.72%	-0.44%	2.16%	1.18%
Return on Common Equity (ROCE)	-25.71%	-6.36%	2.11%	1.80%	3.47%	1.16%	-3.63%	-5.55%	-0.72%	3.68%	1.99%
Return on Equity Simple (ROE_SIMPLE)	-29.48%	-6.35%	1.92%	1.77%	3.39%	1.15%	-3.74%	-5.79%	-0.72%	3.66%	0.00%
Net Operating Profit after Tax (NOPAT)	-215	-44	-0.79	48	60	189	-34	-31	-92	86	47
NOPAT Margin	-30.92%	-9.08%	-0.14%	6.43%	7.96%	25.79%	-5.05%	-3.60%	-7.10%	6.36%	3.66%
Net Nonoperating Expense Percent (NNEP)	209.89%	14.92%	-12.38%	9.72%	1.41%	167.78%	152.82%	213.39%	-154.59%	-263.56%	-17.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-1.76%	-4.92%	4.71%	2.50%
Cost of Revenue to Revenue	133.60%	90.46%	89.31%	83.55%	81.67%	89.11%	97.72%	94.20%	84.47%	83.84%	87.68%
SG&A Expenses to Revenue	8.23%	13.52%	10.88%	9.50%	9.29%	8.33%	9.40%	8.79%	7.32%	6.75%	5.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	10.58%	22.51%	10.89%	9.48%	9.29%	9.12%	9.50%	10.93%	10.61%	6.78%	7.28%
Earnings before Interest and Taxes (EBIT)	-327	-57	1.17	50	69	20	-50	-68	60	124	64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-195	71	121	170	192	164	95	77	227	299	253
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.44	0.83	0.71	0.50	0.84	0.36	0.29	0.74	1.03	0.93	0.58
Price to Tangible Book Value (P/TBV)	0.45	0.83	0.71	0.50	0.84	0.36	0.29	0.74	1.03	0.93	0.58
Price to Revenue (P/Rev)	0.80	2.18	1.92	1.08	1.91	0.86	0.70	1.28	1.20	1.04	0.71
Price to Earnings (P/E)	0.00	0.00	37.06	28.03	24.74	28.44	0.00	0.00	0.00	25.48	29.92
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	2.70%	3.57%	4.04%	3.52%	0.00%	0.00%	0.00%	3.92%	3.34%
Enterprise Value to Invested Capital (EV/IC)	0.52	0.86	0.75	0.54	0.86	0.38	0.28	0.75	1.03	0.93	0.54
Enterprise Value to Revenue (EV/Rev)	1.13	2.73	2.31	1.30	2.10	0.94	0.66	1.37	1.22	1.00	0.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	18.81	11.12	5.67	8.24	4.22	4.75	15.56	6.97	4.56	3.10
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	1,146.75	19.31	22.84	33.86	0.00	0.00	26.35	11.05	12.31
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	20.24	26.40	3.66	0.00	0.00	0.00	15.80	16.61
Enterprise Value to Operating Cash Flow (EV/OCF)	7.10	34.42	26.01	4.89	9.31	7.01	3.20	23.39	10.36	7.34	5.74
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	14.73	0.00	2.97	3.13	524.19	0.00	9.10	10.99
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.59	0.49	0.32	0.27	0.24	0.20	0.19	0.17	0.24	0.21	0.19
Long-Term Debt to Equity	0.53	0.44	0.25	0.24	0.18	0.15	0.16	0.15	0.21	0.20	0.19
Financial Leverage	0.05	0.19	0.17	0.12	0.09	0.06	0.01	0.02	0.03	-0.01	-0.06
Leverage Ratio	1.74	1.81	1.62	1.48	1.49	1.48	1.42	1.49	1.64	1.71	1.68
Compound Leverage Factor	2.54	2.99	-28.15	0.92	1.41	0.10	2.00	1.64	0.21	1.13	1.12
Debt to Total Capital	36.94%	32.81%	24.02%	21.39%	19.24%	16.69%	15.62%	14.83%	19.42%	17.18%	16.31%
Short-Term Debt to Total Capital	3.53%	3.54%	5.33%	2.30%	4.73%	4.33%	2.20%	2.15%	2.59%	0.50%	0.51%
Long-Term Debt to Total Capital	33.41%	29.27%	18.70%	19.10%	14.52%	12.37%	13.43%	12.68%	16.83%	16.67%	15.80%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.16%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	63.06%	67.19%	75.98%	78.61%	80.59%	83.12%	84.38%	85.17%	80.58%	82.82%	83.69%
Debt to EBITDA	-3.84	8.83	4.10	2.59	2.12	2.13	3.23	3.44	1.60	1.05	1.22
Net Debt to EBITDA	-1.17	3.80	1.90	0.95	0.75	0.35	-0.23	0.98	0.13	-0.18	-0.54
Long-Term Debt to EBITDA	-3.48	7.88	3.19	2.32	1.60	1.58	2.77	2.94	1.38	1.02	1.18
Debt to NOPAT	-3.48	-14.14	-626.58	9.26	6.78	1.85	-8.95	-8.41	-3.95	3.65	6.52
Net Debt to NOPAT	-1.06	-6.08	-289.55	3.38	2.39	0.31	0.65	-2.39	-0.32	-0.61	-2.90
Long-Term Debt to NOPAT	-3.15	-12.62	-487.69	8.27	5.12	1.37	-7.69	-7.19	-3.42	3.54	6.31
Altman Z-Score	0.61	1.18	1.39	1.41	1.65	1.20	1.01	1.31	1.75	1.86	1.56
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.10%	0.21%	0.11%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.24	2.80	1.70	2.35	1.54	1.88	1.90	1.55	1.56	2.33	2.75
Quick Ratio	2.80	2.52	1.54	2.09	1.17	1.52	1.43	1.34	1.37	2.06	2.50
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-144	-87	-246	65	-7.86	233	143	2.28	-30	150	71
Operating Cash Flow to CapEx	36.60%	22.34%	23.35%	143.55%	122.68%	512.42%	1,694.08%	152.54%	793.10%	801.74%	836.79%
Free Cash Flow to Firm to Interest Expense	0.00	-24.72	-619.86	55.24	-436.54	0.00	1,052.66	0.00	-0.82	7.17	0.00
Operating Cash Flow to Interest Expense	0.00	10.94	130.07	166.31	9,426.06	0.00	1,030.27	0.00	4.09	8.89	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-38.02	-426.92	50.45	1,742.50	0.00	969.46	0.00	3.57	7.78	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.21	0.25	0.31	0.30	0.29	0.28	0.37	0.52	0.53	0.50
Accounts Receivable Turnover	6.05	4.67	4.55	5.62	6.13	5.69	4.88	4.89	5.23	5.04	4.59
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.42	0.30	0.34	0.41	0.41	0.40	0.39	0.53	0.80	0.90	0.92
Accounts Payable Turnover	12.50	7.02	7.34	9.08	9.91	10.98	9.56	7.37	8.07	8.15	8.11
Days Sales Outstanding (DSO)	60.33	78.19	80.18	64.92	59.55	64.11	74.75	74.60	69.79	72.41	79.50
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	29.21	51.96	49.74	40.19	36.81	33.25	38.19	49.53	45.20	44.76	44.98
Cash Conversion Cycle (CCC)	31.12	26.23	30.44	24.73	22.73	30.86	36.56	25.07	24.59	27.65	34.52
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,508	1,551	1,796	1,779	1,846	1,803	1,625	1,592	1,531	1,467	1,443
Invested Capital Turnover	0.45	0.32	0.35	0.41	0.41	0.40	0.39	0.54	0.83	0.91	0.89
Increase / (Decrease) in Invested Capital	-71	43	245	-18	68	-44	-177	-34	-61	-64	-24
Enterprise Value (EV)	787	1,333	1,343	962	1,580	693	449	1,195	1,579	1,365	785
Market Capitalization	558	1,063	1,114	802	1,433	631	471	1,120	1,549	1,418	922
Book Value per Share	$12.05	$10.63	$10.61	$10.92	$11.42	$11.59	$10.92	$9.99	$9.96	$9.99	$10.74
Tangible Book Value per Share	$11.63	$10.63	$10.61	$10.92	$11.42	$11.59	$10.92	$9.99	$9.96	$9.99	$10.74
Total Capital	2,028	1,908	2,063	2,058	2,109	2,094	1,952	1,781	1,863	1,835	1,888
Total Debt	749	626	496	440	406	350	305	264	362	315	308
Total Long-Term Debt	678	558	386	393	306	259	262	226	313	306	298
Net Debt	229	269	229	161	143	58	-22	75	30	-53	-137
Capital Expenditures (CapEx)	303	173	221	137	138	19	8.27	34	19	23	16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	51	47	29	27	-9.32	46	-33	12	-35	46	90
Debt-free Net Working Capital (DFNWC)	545	404	296	307	253	337	294	201	298	414	535
Net Working Capital (NWC)	473	336	186	259	154	246	251	163	249	405	525
Net Nonoperating Expense (NNE)	162	37	-31	19	2.15	169	28	56	-81	31	16
Net Nonoperating Obligations (NNO)	229	269	229	161	143	58	-22	75	30	-53	-137
Total Depreciation and Amortization (D&A)	132	128	120	120	123	144	145	145	167	176	190
Debt-free, Cash-free Net Working Capital to Revenue	7.27%	9.70%	5.04%	3.68%	-1.24%	6.23%	-4.89%	1.34%	-2.69%	3.42%	6.95%
Debt-free Net Working Capital to Revenue	78.29%	82.85%	50.89%	41.46%	33.68%	45.94%	43.59%	23.00%	23.07%	30.51%	41.42%
Net Working Capital to Revenue	68.00%	68.99%	31.99%	35.07%	20.42%	33.58%	37.24%	18.63%	19.32%	29.83%	40.68%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($3.58)	($0.73)	$0.20	$0.19	$0.39	$0.13	($0.41)	($0.58)	($0.07)	$0.37	$0.21
Adjusted Weighted Average Basic Shares Outstanding	105.42M	111.61M	145.30M	146.70M	147.54M	148.99M	150.06M	151.28M	150.92M	151.99M	148.35M
Adjusted Diluted Earnings per Share	($3.58)	($0.73)	$0.20	$0.19	$0.38	$0.13	($0.41)	($0.58)	($0.07)	$0.36	$0.21
Adjusted Weighted Average Diluted Shares Outstanding	105.42M	111.61M	145.30M	146.83M	149.58M	149.90M	150.06M	151.28M	150.92M	154.70M	148.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	107.54M	147.66M	148.08M	148.79M	149.96M	150.71M	151.64M	152.15M	152.42M	150.94M	147.30M
Normalized Net Operating Profit after Tax (NOPAT)	-204	-14	-0.76	47	60	13	-34	-18	74	87	60
Normalized NOPAT Margin	-29.28%	-2.79%	-0.13%	6.41%	7.96%	1.80%	-4.99%	-2.10%	5.75%	6.38%	4.68%
Pre Tax Income Margin	-68.72%	-19.26%	-3.50%	4.19%	8.72%	0.19%	-10.47%	-8.61%	0.58%	6.04%	3.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-16.09	2.95	42.14	3,842.33	0.00	-368.95	0.00	1.61	5.90	0.00
NOPAT to Interest Expense	0.00	-12.50	-1.99	40.20	3,324.74	0.00	-250.59	0.00	-2.46	4.13	0.00
EBIT Less CapEx to Interest Expense	0.00	-65.05	-554.05	-73.72	-3,841.22	0.00	-429.76	0.00	1.09	4.79	0.00
NOPAT Less CapEx to Interest Expense	0.00	-61.46	-558.99	-75.66	-4,358.81	0.00	-311.41	0.00	-2.97	3.02	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.82%	0.00%	-110.61%	53.24%	98.01%

This table displays calculated financial ratios and metrics derived from Helix Energy Solutions Group's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	147,296,092.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	147,296,092.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.09
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	45.18%	16.45%	18.44%	18.13%	-13.46%	5.96%	-6.13%	-17.14%	10.09%	-5.91%	3.55%
EBITDA Growth	149.26%	37.78%	30.68%	78.60%	22.53%	5.28%	16.95%	-55.40%	17.10%	-20.43%	-36.61%
EBIT Growth	463.40%	178.59%	28.13%	265.74%	59.42%	32.07%	323.80%	-105.13%	5.11%	-60.09%	-222.73%
NOPAT Growth	175.63%	505.94%	84.63%	165.15%	43.09%	140.44%	897.34%	-106.04%	-24.11%	-37.79%	-230.87%
Net Income Growth	182.93%	-1,145.88%	-408.94%	354.77%	89.68%	171.02%	111.69%	-108.05%	-25.18%	-58.90%	-536.39%
EPS Growth	183.33%	-1,050.00%	-466.67%	320.00%	90.00%	168.42%	111.76%	-109.52%	-21.05%	-53.85%	-550.00%
Operating Cash Flow Growth	28.24%	90.57%	1,295.92%	-138.61%	76.30%	-17.69%	-74.50%	-40.85%	-56.44%	45.12%	275.78%
Free Cash Flow Firm Growth	-84.08%	131.76%	786.10%	275.43%	317.88%	24.50%	-112.51%	-121.14%	-31.61%	-55.00%	749.38%
Invested Capital Growth	0.55%	-3.84%	-9.08%	-4.34%	-1.78%	-4.16%	1.73%	1.32%	-1.08%	-1.65%	-8.55%
Revenue Q/Q Growth	28.12%	-15.29%	-11.62%	23.15%	-6.13%	3.71%	-21.70%	8.71%	24.70%	-11.35%	-13.83%
EBITDA Q/Q Growth	32.35%	-6.61%	-37.27%	123.00%	-9.20%	-19.76%	-28.02%	-14.96%	138.41%	-45.47%	-41.06%
EBIT Q/Q Growth	93.37%	-20.12%	-114.22%	1,615.03%	-15.72%	-33.82%	-73.52%	-134.74%	1,826.26%	-74.87%	-196.20%
NOPAT Q/Q Growth	71.21%	-54.36%	-108.30%	4,190.09%	-7.61%	-23.31%	-72.49%	-130.98%	1,260.97%	-37.13%	-157.88%
Net Income Q/Q Growth	119.15%	-282.09%	7.22%	222.83%	-8.59%	-31.83%	-84.73%	-184.57%	950.00%	-62.55%	-262.10%
EPS Q/Q Growth	100.00%	-290.00%	10.53%	223.53%	-9.52%	-31.58%	-84.62%	-200.00%	850.00%	-60.00%	-250.00%
Operating Cash Flow Q/Q Growth	0.35%	199.70%	-31.93%	-118.86%	558.16%	39.92%	-78.91%	-204.20%	241.70%	366.13%	-45.40%
Free Cash Flow Firm Q/Q Growth	124.47%	384.39%	101.60%	-26.59%	-41.71%	44.31%	-120.25%	-24.12%	288.55%	-5.04%	192.22%
Invested Capital Q/Q Growth	-1.29%	-3.70%	-4.53%	5.42%	1.35%	-6.04%	1.33%	5.00%	-1.05%	-6.58%	-5.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.36%	14.70%	6.60%	20.69%	19.18%	16.57%	9.90%	4.95%	17.51%	15.15%	3.07%
EBITDA Margin	18.16%	20.02%	14.68%	26.58%	25.71%	19.89%	18.29%	14.31%	27.35%	16.82%	11.51%
Operating Margin	9.16%	4.59%	-0.43%	14.58%	13.04%	8.69%	2.94%	-1.04%	12.69%	3.67%	-4.62%
EBIT Margin	7.07%	6.67%	-1.18%	14.50%	13.02%	8.31%	2.81%	-0.90%	12.43%	3.52%	-3.93%
Profit (Net Income) Margin	3.93%	-8.45%	-8.87%	8.85%	8.62%	5.67%	1.10%	-0.86%	5.86%	2.47%	-4.66%
Tax Burden Percent	65.11%	144.47%	93.93%	68.68%	75.61%	83.83%	87.15%	30.23%	53.53%	131.31%	80.96%
Interest Burden Percent	85.43%	-87.78%	801.40%	88.86%	87.54%	81.33%	45.11%	316.57%	88.02%	53.48%	146.16%
Effective Tax Rate	34.89%	0.00%	0.00%	31.32%	24.39%	16.17%	12.85%	0.00%	46.47%	-31.31%	0.00%
Return on Invested Capital (ROIC)	4.67%	2.65%	-0.26%	8.85%	8.38%	6.61%	2.33%	-0.60%	5.74%	4.28%	-2.96%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.51%	-72.18%	-59.60%	1.88%	-8.77%	56.01%	14.87%	-2.81%	23.40%	12.52%	0.23%
Return on Net Nonoperating Assets (RNNOA)	-0.29%	-2.50%	-1.71%	0.08%	-0.14%	-0.43%	-0.32%	-0.03%	-0.30%	-0.77%	-0.02%
Return on Equity (ROE)	4.38%	0.15%	-1.97%	8.92%	8.24%	6.17%	2.01%	-0.63%	5.45%	3.51%	-2.98%
Cash Return on Invested Capital (CROIC)	1.14%	-1.95%	12.73%	2.53%	3.12%	10.01%	5.24%	3.18%	4.91%	4.91%	10.89%
Operating Return on Assets (OROA)	3.67%	3.48%	-0.63%	8.04%	6.84%	4.38%	1.44%	-0.44%	6.17%	1.75%	-1.97%
Return on Assets (ROA)	2.04%	-4.41%	-4.76%	4.91%	4.53%	2.99%	0.56%	-0.42%	2.91%	1.23%	-2.33%
Return on Common Equity (ROCE)	4.38%	0.15%	-1.97%	8.92%	8.24%	6.17%	2.01%	-0.63%	5.45%	3.51%	-2.98%
Return on Equity Simple (ROE_SIMPLE)	1.32%	0.00%	-2.18%	-0.45%	0.46%	0.00%	5.50%	3.19%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	24	11	-0.89	37	34	26	7.12	-2.21	26	16	-9.32
NOPAT Margin	5.96%	3.21%	-0.30%	10.01%	9.86%	7.29%	2.56%	-0.73%	6.80%	4.82%	-3.24%
Net Nonoperating Expense Percent (NNEP)	10.18%	74.83%	59.34%	6.96%	17.15%	-49.40%	-12.55%	2.21%	-17.66%	-8.24%	-3.19%
Return On Investment Capital (ROIC_SIMPLE)	-	0.58%	-	-	-	1.41%	0.38%	-0.12%	1.36%	0.85%	-0.50%
Cost of Revenue to Revenue	79.64%	85.30%	93.40%	79.31%	80.82%	83.43%	90.10%	95.06%	82.49%	84.85%	96.93%
SG&A Expenses to Revenue	7.03%	6.85%	6.98%	6.11%	6.17%	7.76%	6.96%	5.99%	4.82%	6.08%	7.69%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	11.20%	10.11%	7.03%	6.11%	6.14%	7.88%	6.96%	5.99%	4.82%	11.48%	7.69%
Earnings before Interest and Taxes (EBIT)	28	22	-3.49	53	45	30	7.82	-2.72	47	12	-11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	72	67	43	97	88	71	51	43	103	56	33
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.10	1.03	1.13	1.22	1.07	0.93	0.81	0.60	0.61	0.58	0.94
Price to Tangible Book Value (P/TBV)	1.10	1.03	1.13	1.22	1.07	0.93	0.81	0.60	0.61	0.58	0.94
Price to Revenue (P/Rev)	1.36	1.20	1.24	1.31	1.26	1.04	0.94	0.74	0.73	0.71	1.12
Price to Earnings (P/E)	83.38	0.00	0.00	0.00	234.97	25.48	14.76	18.87	22.59	29.92	101.52
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.20%	0.00%	0.00%	0.00%	0.43%	3.92%	6.78%	5.30%	4.43%	3.34%	0.99%
Enterprise Value to Invested Capital (EV/IC)	1.10	1.03	1.13	1.21	1.08	0.93	0.80	0.60	0.60	0.54	0.93
Enterprise Value to Revenue (EV/Rev)	1.40	1.22	1.23	1.34	1.25	1.00	0.89	0.73	0.71	0.61	0.97
Enterprise Value to EBITDA (EV/EBITDA)	8.38	6.97	6.89	6.62	5.64	4.56	3.90	3.71	3.49	3.10	5.37
Enterprise Value to EBIT (EV/EBIT)	38.24	26.35	25.93	18.28	14.16	11.05	8.87	11.84	11.46	12.31	29.16
Enterprise Value to NOPAT (EV/NOPAT)	64.95	0.00	33.35	0.00	80.26	15.80	11.67	13.46	15.72	16.61	45.03
Enterprise Value to Operating Cash Flow (EV/OCF)	16.23	10.36	7.41	10.43	8.28	7.34	8.66	7.05	9.19	5.74	6.92
Enterprise Value to Free Cash Flow (EV/FCFF)	96.32	0.00	8.43	46.80	34.12	9.10	15.49	19.00	12.25	10.99	8.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.24	0.22	0.21	0.20	0.21	0.20	0.20	0.20	0.19	0.20
Long-Term Debt to Equity	0.14	0.21	0.21	0.21	0.19	0.20	0.20	0.19	0.19	0.19	0.19
Financial Leverage	0.05	0.03	0.03	0.04	0.02	-0.01	-0.02	0.01	-0.01	-0.06	-0.08
Leverage Ratio	1.59	1.64	1.67	1.66	1.64	1.71	1.74	1.72	1.68	1.68	1.68
Compound Leverage Factor	1.36	-1.44	13.39	1.47	1.44	1.39	0.79	5.44	1.48	0.90	2.45
Debt to Total Capital	12.93%	19.42%	17.82%	17.55%	16.69%	17.18%	16.76%	16.57%	16.33%	16.31%	16.33%
Short-Term Debt to Total Capital	0.50%	2.59%	0.50%	0.49%	0.49%	0.50%	0.51%	0.50%	0.51%	0.51%	0.50%
Long-Term Debt to Total Capital	12.43%	16.83%	17.32%	17.06%	16.20%	16.67%	16.25%	16.07%	15.82%	15.80%	15.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.07%	80.58%	82.18%	82.45%	83.31%	82.82%	83.24%	83.43%	83.67%	83.69%	83.67%
Debt to EBITDA	1.09	1.60	1.33	1.13	1.06	1.05	1.01	1.23	1.15	1.22	1.30
Net Debt to EBITDA	0.28	0.13	-0.02	0.15	-0.03	-0.18	-0.19	-0.03	-0.11	-0.54	-0.84
Long-Term Debt to EBITDA	1.05	1.38	1.29	1.10	1.03	1.02	0.98	1.20	1.11	1.18	1.26
Debt to NOPAT	8.47	-3.95	6.44	-10.60	15.05	3.65	3.04	4.48	5.18	6.52	10.86
Net Debt to NOPAT	2.19	-0.32	-0.12	-1.45	-0.45	-0.61	-0.57	-0.12	-0.51	-2.90	-7.06
Long-Term Debt to NOPAT	8.14	-3.42	6.26	-10.30	14.61	3.54	2.95	4.34	5.01	6.31	10.53
Altman Z-Score	1.94	1.70	1.64	1.92	1.85	1.74	1.59	1.37	1.53	1.50	1.82
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.42	1.56	1.74	2.08	2.29	2.33	2.28	2.19	2.54	2.75	2.92
Quick Ratio	1.22	1.37	1.56	1.86	1.96	2.06	1.94	1.86	2.22	2.50	2.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	15	72	145	106	62	90	-18	-23	42	40	118
Operating Cash Flow to CapEx	383.40%	2,767.66%	1,788.74%	-304.94%	1,805.93%	622.67%	366.35%	-383.29%	1,438.21%	1,986.71%	2,198.01%
Free Cash Flow to Firm to Interest Expense	0.00	1.93	6.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	2.54	3.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	2.45	2.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.52	0.54	0.55	0.53	0.53	0.51	0.49	0.50	0.50	0.50
Accounts Receivable Turnover	4.64	5.23	6.12	5.19	4.62	5.04	5.60	4.18	4.16	4.59	5.33
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.78	0.80	0.85	0.90	0.87	0.90	0.90	0.86	0.90	0.92	0.94
Accounts Payable Turnover	7.73	8.07	8.88	8.03	7.93	8.15	7.94	7.01	7.90	8.11	7.79
Days Sales Outstanding (DSO)	78.75	69.79	59.67	70.38	78.93	72.41	65.13	87.34	87.67	79.50	68.52
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	47.20	45.20	41.10	45.47	46.02	44.76	45.95	52.09	46.19	44.98	46.89
Cash Conversion Cycle (CCC)	31.55	24.59	18.57	24.91	32.90	27.65	19.17	35.25	41.48	34.52	21.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,589	1,531	1,461	1,540	1,561	1,467	1,486	1,561	1,544	1,443	1,359
Invested Capital Turnover	0.78	0.83	0.87	0.88	0.85	0.91	0.91	0.82	0.85	0.89	0.91
Increase / (Decrease) in Invested Capital	8.74	-61	-146	-70	-28	-64	25	20	-17	-24	-127
Enterprise Value (EV)	1,744	1,579	1,647	1,864	1,678	1,365	1,195	937	934	785	1,259
Market Capitalization	1,685	1,549	1,652	1,820	1,688	1,418	1,254	946	964	922	1,457
Book Value per Share	$10.15	$9.96	$9.62	$9.82	$10.33	$9.99	$10.24	$10.35	$10.71	$10.74	$10.57
Tangible Book Value per Share	$10.15	$9.96	$9.62	$9.82	$10.33	$9.99	$10.24	$10.35	$10.71	$10.74	$10.57
Total Capital	1,758	1,863	1,785	1,815	1,885	1,835	1,856	1,880	1,882	1,888	1,861
Total Debt	227	362	318	319	315	315	311	312	307	308	304
Total Long-Term Debt	219	313	309	310	305	306	302	302	298	298	294
Net Debt	59	30	-5.69	44	-9.45	-53	-59	-8.13	-31	-137	-198
Capital Expenditures (CapEx)	8.25	3.42	3.61	3.99	3.09	13	4.49	4.47	1.69	5.70	2.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	5.08	-35	-57	58	76	46	52	102	156	90	46
Debt-free Net Working Capital (DFNWC)	173	298	267	333	400	414	422	422	494	535	548
Net Working Capital (NWC)	165	249	258	324	391	405	413	412	484	525	538
Net Nonoperating Expense (NNE)	8.03	39	25	4.24	4.24	5.77	4.05	0.39	3.53	7.83	4.09
Net Nonoperating Obligations (NNO)	59	30	-5.69	44	-9.45	-53	-59	-8.13	-31	-137	-198
Total Depreciation and Amortization (D&A)	44	45	47	44	43	41	43	46	56	44	44
Debt-free, Cash-free Net Working Capital to Revenue	0.41%	-2.69%	-4.28%	4.14%	5.66%	3.42%	3.90%	7.99%	11.87%	6.95%	3.56%
Debt-free Net Working Capital to Revenue	13.96%	23.07%	19.96%	23.90%	29.88%	30.51%	31.50%	33.01%	37.62%	41.42%	42.08%
Net Working Capital to Revenue	13.26%	19.32%	19.29%	23.26%	29.19%	29.83%	30.80%	32.27%	36.89%	40.68%	41.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.10	($0.19)	($0.17)	$0.21	$0.19	$0.14	$0.02	($0.02)	$0.15	$0.06	($0.09)
Adjusted Weighted Average Basic Shares Outstanding	150.55M	150.92M	152.37M	152.23M	151.91M	151.99M	151.04M	148.52M	146.91M	148.35M	147.16M
Adjusted Diluted Earnings per Share	$0.10	($0.19)	($0.17)	$0.21	$0.19	$0.13	$0.02	($0.02)	$0.15	$0.06	($0.09)
Adjusted Weighted Average Diluted Shares Outstanding	153.62M	150.92M	152.37M	155.02M	154.85M	154.70M	152.17M	148.52M	147.70M	148.45M	147.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	150.71M	152.42M	152.45M	152.05M	152.10M	150.94M	151.53M	146.99M	147.08M	147.30M	147.30M
Normalized Net Operating Profit after Tax (NOPAT)	34	18	-0.79	37	34	26	7.12	-2.21	26	8.58	-9.32
Normalized NOPAT Margin	8.68%	5.49%	-0.27%	10.01%	9.84%	7.39%	2.56%	-0.73%	6.80%	2.57%	-3.24%
Pre Tax Income Margin	6.04%	-5.85%	-9.45%	12.89%	11.40%	6.76%	1.27%	-2.84%	10.94%	1.88%	-5.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.60	-0.17	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.29	-0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.51	-0.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.20	-0.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	59.33%	-110.61%	-34.99%	-178.97%	141.85%	53.24%	29.93%	99.07%	116.32%	98.01%	0.00%

Financials Breakdown Chart

Key Financial Trends

MarketBeat analyzed Helix Energy Solutions Group (HLX) using the quarterly statements from the last four years. Below are the most notable trends across revenue, profitability, cash flow, and balance sheet metrics. Items are organized with positive, neutral, and negative items, in that order.

Q4 2025 shows strong cash generation: Net Cash From Continuing Operating Activities is 113.2M and Net Change in Cash is 107.2M, a meaningful positive swing versus earlier quarters.
Latest quarter net income to common shareholders is positive (8.27M for Q4 2025) with diluted earnings per share of 0.06, signaling quarterly profitability resumed in the most recent period.
Liquidity remains solid: cash & equivalents around 338.0M and total current assets about 798.2M versus total current liabilities of roughly 314.1M, implying a current ratio around 2.5x.
Debt levels are modest relative to equity: Long-Term Debt near 298.0M and Total Equity around 1.575B help keep leverage manageable; debt appears well-contained within the balance sheet context.
Revenue has stayed in a stable, mid‑range band (roughly 300–380M per quarter) over the recent four-year window, reflecting the cyclical nature of offshore activity without a clear runaway growth or collapse.
Operating margins swing quarter to quarter, with gross margins ranging from about 5% in some quarters to the high teens in others, indicating cyclical cost pressure tied to commodity markets and utilization of assets.
Non-cash items and working capital movements drive sizable quarterly cash-flow fluctuations (depreciation, amortization, and changes in operating assets/liabilities), which can mute simple, year-over-year cash-flow comparisons.
Occasional equity actions (issuance or small buybacks) occurred in select quarters, affecting share count and per-share metrics but not representing a consistent, ongoing capital-raising program.
Q2 2025 profitability softened: Net income from continuing operations was -2.60M and diluted EPS −0.02, signaling a quarterly profitability setback.
Q2 2025 gross margin compressed to about 4.9% (gross profit ~14.98M on 302.29M revenue), indicating margin pressure in that quarter.
Q2 2025 cash flow from continuing operating activities turned negative (about -17.13M), showing aperiod of weaker cash generation even amid other quarters’ improvement.

05/07/26 06:39 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Helix Energy Solutions Group's Financials

When does Helix Energy Solutions Group's financial year end?

According to the most recent income statement we have on file, Helix Energy Solutions Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Helix Energy Solutions Group's net income changed over the last 10 years?

Helix Energy Solutions Group's net income appears to be on a downward trend, with a most recent value of $30.83 million in 2025, falling from -$376.98 million in 2015. The previous period was $55.64 million in 2024. See Helix Energy Solutions Group's forecast for analyst expectations on whatâ€™s next for the company.

What is Helix Energy Solutions Group's operating income?

Helix Energy Solutions Group's total operating income in 2025 was $65.14 million, based on the following breakdown:

Total Gross Profit: $159.14 million
Total Operating Expenses: $94.00 million

How has Helix Energy Solutions Group's revenue changed over the last 10 years?

Over the last 10 years, Helix Energy Solutions Group's total revenue changed from $695.80 million in 2015 to $1.29 billion in 2025, a change of 85.6%.

How much debt does Helix Energy Solutions Group have?

Helix Energy Solutions Group's total liabilities were at $1.04 billion at the end of 2025, a 3.8% decrease from 2024, and a 7.6% decrease since 2015.

How much cash does Helix Energy Solutions Group have?

In the past 10 years, Helix Energy Solutions Group's cash and equivalents has ranged from $186.60 million in 2022 to $494.19 million in 2015, and is currently $445.20 million as of their latest financial filing in 2025.

How has Helix Energy Solutions Group's book value per share changed over the last 10 years?

Over the last 10 years, Helix Energy Solutions Group's book value per share changed from 12.05 in 2015 to 10.74 in 2025, a change of -10.9%.

Related Companies

Financial statements for NYSE:HLX last updated on 4/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Helix Energy Solutions Group (HLX) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Helix Energy Solutions Group's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Helix Energy Solutions Group (HLX) Financials

Annual Income Statements for Helix Energy Solutions Group

Quarterly Income Statements for Helix Energy Solutions Group

Annual Cash Flow Statements for Helix Energy Solutions Group

Quarterly Cash Flow Statements for Helix Energy Solutions Group

Annual Balance Sheets for Helix Energy Solutions Group

Quarterly Balance Sheets for Helix Energy Solutions Group

Annual Metrics And Ratios for Helix Energy Solutions Group

Quarterly Metrics And Ratios for Helix Energy Solutions Group

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Helix Energy Solutions Group's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools