What is Bristow Group's operating income?

Bristow Group's total operating income in 2025 was $158.81 million, based on the following breakdown: Total Gross Profit: $686.54 million Total Operating Expenses: $530.91 million

Bristow Group (VTOL) Financials

$46.51 +0.03 (+0.06%)

Closing price 08/14/2026 03:59 PM Eastern

Extended Trading

$46.52 +0.01 (+0.02%)

As of 08/14/2026 07:34 PM Eastern

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Annual Income Statements for Bristow Group

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

Metric	2014	2015	2016	2017	2018	2019	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	3/31/2019	3/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	17	8.71	-7.98	-28	14	-337	-56	9.22	-6.78	95	129
Consolidated Net Income / (Loss)	17	7.90	-15	-29	13	-336	-56	9.22	-6.92	95	129
Net Income / (Loss) Continuing Operations	17	7.90	-15	-29	13	-336	-56	9.21	-6.92	95	129
Total Pre-Tax Income	23	24	-19	-153	14	-336	-57	0.00	18	102	151
Total Operating Income	43	24	-3.37	-136	28	-222	-103	26	61	133	159
Total Gross Profit	331	282	247	231	222	1,370	1,178	1,210	529	611	687
Total Revenue	331	282	247	231	222	1,370	1,178	1,210	1,297	1,415	1,491
Operating Revenue	331	282	247	231	222	1,370	1,178	1,210	1,297	1,415	1,491
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	768	804	804
Operating Cost of Revenue	-	-	-	-	-	-	-	0.00	768	804	804
Total Operating Expenses	289	258	251	368	194	1,591	1,281	1,185	476	483	531
Selling, General & Admin Expense	248	214	206	210	197	182	153	0.00	404	413	472
Depreciation Expense	46	47	49	46	40	125	70	0.00	71	68	70
Restructuring Charge	-	-	-	-	-	0.00	69	0.00	2.20	0.00	0.00
Other Special Charges / (Income)	-6.10	-5.95	-4.79	-4.51	-44	28	7.77	0.52	-1.11	1.05	-12
Total Other Income / (Expense), net	-20	-0.34	-16	-16	-14	-115	46	-4.90	-36	-26	-4.39
Interest Expense	15	12	17	17	15	114	81	0.00	41	38	40
Interest & Investment Income	0.54	1.19	0.74	0.76	2.04	7.74	1.29	1.14	16	13	13
Other Income / (Expense), net	-5.78	10	0.08	-0.24	-0.96	-8.90	126	-6.04	-9.97	-1.87	23
Income Tax Expense	8.29	14	-3.36	-123	2.94	-0.16	-0.36	11	25	7.19	22
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.10	-0.81	-6.93	-0.45	-0.46	0.71	-0.19	-0.01	-0.14	0.07	0.35
Basic Earnings per Share	$0.84	$0.42	($0.39)	($1.36)	$0.64	($9.42)	$3.12	$0.33	($0.24)	$3.32	$4.47
Weighted Average Basic Shares Outstanding	20.07M	20.23M	20.35M	20.76M	21.17M	35.74M	24.60M	28.10M	28.14M	28.52M	28.86M
Diluted Earnings per Share	$0.84	$0.42	($0.39)	($1.36)	$0.64	($9.42)	$2.32	$0.32	($0.24)	$3.21	$4.32
Weighted Average Diluted Shares Outstanding	20.14M	20.27M	20.35M	20.76M	21.18M	35.74M	31.68M	28.41M	28.14M	29.55M	29.88M
Weighted Average Basic & Diluted Shares Outstanding	20.40M	20.70M	20.50M	20.70M	21.79M	21.31M	29.69M	28.30M	28.32M	28.63M	29.19M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-7.94	6.61	28	28	32	27	32	52	18	13	21
Consolidated Net Income / (Loss)	-8.10	6.63	28	28	32	27	32	52	19	13	21
Net Income / (Loss) Continuing Operations	-8.10	6.63	28	28	32	27	32	52	19	13	21
Total Pre-Tax Income	13	9.14	37	37	19	38	52	40	22	17	21
Total Operating Income	21	23	45	33	33	34	43	51	32	35	40
Total Gross Profit	-430	139	164	155	-451	157	176	184	170	168	188
Total Revenue	338	337	360	365	354	351	376	386	377	389	412
Operating Revenue	338	337	360	365	354	351	376	386	377	389	412
Total Cost of Revenue	768	198	195	210	804	194	200	202	208	221	224
Operating Cost of Revenue	-	198	195	210	-	194	200	202	208	221	224
Total Operating Expenses	-449	118	120	123	-481	124	134	134	140	134	151
Selling, General & Admin Expense	266	101	103	105	282	107	122	124	119	117	122
Depreciation Expense	17	17	17	18	17	17	17	18	18	24	29
Other Special Charges / (Income)	0.16	0.11	0.22	0.63	0.08	0.56	-6.21	-8.25	2.11	-7.64	-0.14
Total Other Income / (Expense), net	-4.95	-12	-6.68	4.16	-12	4.72	9.76	-11	-8.08	-18	-16
Interest Expense	11	9.47	9.39	9.66	9.06	9.49	10	9.96	10	17	12
Interest & Investment Income	4.59	3.40	2.79	3.23	3.59	2.82	2.22	2.26	5.23	4.42	5.60
Other Income / (Expense), net	1.74	-6.20	-0.08	11	-6.17	11	18	-3.09	-2.88	-5.35	-8.93
Income Tax Expense	22	2.51	9.25	8.39	-13	10	20	-12	3.03	3.51	0.11
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.17	0.03	0.03	0.04	-0.03	0.02	0.03	0.05	0.25	-0.04	0.03
Basic Earnings per Share	($0.28)	$0.23	$0.99	$0.99	$1.11	$0.95	$1.10	$1.79	$0.63	$0.45	$0.71
Weighted Average Basic Shares Outstanding	28.14M	28.33M	28.48M	28.62M	28.52M	28.67M	28.82M	28.87M	28.86M	29.25M	29.62M
Diluted Earnings per Share	($0.28)	$0.23	$0.96	$0.95	$1.07	$0.92	$1.07	$1.72	$0.61	$0.44	$0.70
Weighted Average Diluted Shares Outstanding	28.14M	29.24M	29.46M	29.72M	29.55M	29.87M	29.79M	29.93M	29.88M	30.06M	30.01M
Weighted Average Basic & Diluted Shares Outstanding	28.32M	28.39M	28.62M	28.63M	28.63M	28.78M	28.81M	28.92M	29.19M	29.61M	29.64M

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

Metric	2014	2015	2016	2017	2018	2019	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	3/31/2019	3/31/2021	3/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	9.53	-26	16	-14	34	-199	32	35	20	68	42
Net Cash From Operating Activities	78	44	59	20	54	-109	97	124	32	177	198
Net Cash From Continuing Operating Activities	78	44	59	20	54	-109	97	124	32	177	198
Net Income / (Loss) Continuing Operations	17	7.90	-15	-29	13	-336	-56	-16	-6.92	95	129
Consolidated Net Income / (Loss)	17	7.90	-15	-29	13	-336	-56	-16	-6.92	95	129
Depreciation Expense	46	47	49	46	40	125	90	87	86	83	82
Amortization Expense	1.15	1.27	1.68	1.37	1.66	6.34	16	9.03	3.32	6.93	17
Non-Cash Adjustments To Reconcile Net Income	16	-9.23	-1.42	116	0.75	140	43	54	-31	-52	-106
Changes in Operating Assets and Liabilities, net	-1.52	-2.82	24	-114	-1.06	-44	3.42	-10	-19	44	77
Net Cash From Investing Activities	-94	-23	-9.12	-6.57	23	-26	173	-17	-47	-246	-87
Net Cash From Continuing Investing Activities	-94	-23	-9.12	-6.57	23	-26	173	-17	-47	-246	-87
Purchase of Property, Plant & Equipment	-107	-60	-39	-17	-9.22	-41	-15	-31	-82	-255	-142
Sale of Property, Plant & Equipment	7.05	25	29	9.39	30	14	68	15	34	9.44	55
Net Cash From Financing Activities	26	-46	-33	-27	-44	-63	-246	-63	22	141	-66
Net Cash From Continuing Financing Activities	26	-46	-33	-27	-44	-63	-246	-63	22	141	-66
Repayment of Debt	-2.45	-47	-5.22	0.00	-2.52	-64	-630	-22	-145	-20	-58
Repurchase of Common Equity	0.00	-2.08	-0.16	-0.05	0.00	0.00	-11	-41	-2.71	-4.05	-15
Issuance of Debt	30	60	12	17	0.00	0.47	400	0.00	170	165	5.83
Other Financing Activities, net	-1.43	-57	-40	-44	-41	-2.16	-	-	0.00	0.51	1.39
Effect of Exchange Rate Changes	-1.01	-2.12	-	-	-	-	7.46	-8.07	13	-4.95	-2.68
Cash Interest Paid	-	-	-	-	-	-	-	32	39	43	47
Cash Income Taxes Paid	-	-	-	-	-	-	-	12	19	21	27

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Net Change in Cash & Equivalents	-26	-41	39	27	43	-57	62	-5.15	43	51	-30
Net Cash From Operating Activities	-9.50	27	34	66	51	-0.60	99	23	77	-8.25	41
Net Cash From Continuing Operating Activities	-9.50	27	34	66	51	-0.60	99	23	77	-8.25	41
Net Income / (Loss) Continuing Operations	-8.10	6.63	28	28	32	27	32	52	19	13	21
Consolidated Net Income / (Loss)	-8.10	6.63	28	28	32	27	32	52	19	13	21
Depreciation Expense	21	21	21	21	20	20	21	20	21	26	32
Amortization Expense	0.74	1.55	1.64	1.62	2.12	2.38	4.19	5.63	4.57	5.05	5.48
Non-Cash Adjustments To Reconcile Net Income	34	-12	-11	-3.34	-25	-20	-29	-43	-14	-9.65	-15
Changes in Operating Assets and Liabilities, net	-57	9.65	-5.78	18	22	-30	71	-11	47	-43	-3.40
Net Cash From Investing Activities	-19	-65	-46	-57	-79	-52	-7.57	-0.59	-27	-16	-62
Net Cash From Continuing Investing Activities	-19	-65	-46	-57	-79	-52	-7.57	-0.59	-27	-16	-62
Purchase of Property, Plant & Equipment	-19	-65	-50	-57	-83	-52	-32	-29	-29	-41	-67
Sale of Property, Plant & Equipment	0.09	0.01	4.40	0.05	4.98	0.04	24	29	1.98	25	5.13
Net Cash From Financing Activities	-3.31	-5.11	49	20	78	-1.70	-26	-28	-10	71	-15
Net Cash From Continuing Financing Activities	-3.31	-5.11	49	20	78	-1.70	-26	-28	-10	71	-15
Repayment of Debt	-3.31	-4.09	-5.36	-5.54	-4.93	-5.03	-20	-29	-4.08	-415	-11
Repurchase of Common Equity	-	-1.02	-2.91	-0.13	-	-2.50	-6.00	-0.64	-6.07	-11	-0.01
Payment of Dividends	-	-	-	-	-	0.00	-	-	-	-3.70	-3.70
Effect of Exchange Rate Changes	6.01	2.24	2.48	-1.99	-7.68	-3.03	-3.46	0.56	3.24	4.33	6.07
Cash Interest Paid	3.29	17	3.89	18	4.90	18	6.66	17	5.64	16	4.93
Cash Income Taxes Paid	9.73	6.05	7.28	2.77	4.69	13	5.88	3.59	4.32	3.52	11

This table presents Bristow 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	2014	2015	2016	2017	2018	2019	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	3/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,017	1,004	955	792	765	765	1,992	1,812	1,937	2,125	2,311
Total Current Assets	108	103	96	83	116	196	586	493	564	619	694
Cash & Equivalents	41	14	27	14	51	117	228	160	180	248	286
Restricted Cash	-	-	-	-	-	-	3.07	3.65	3.40	3.78	7.42
Accounts Receivable	35	52	35	35	39	48	216	215	235	212	217
Inventories, net	27	28	25	21	21	20	92	82	100	115	133
Prepaid Expenses	2.66	1.96	1.58	1.20	1.81	2.18	32	32	45	42	51
Plant, Property, & Equipment, net	863	859	822	674	599	557	1,005	915	928	1,076	1,153
Total Noncurrent Assets	46	43	37	36	50	12	402	404	446	430	464
Long-Term Investments	-	-	-	-	-	-	38	17	20	22	24
Other Noncurrent Operating Assets	46	41	36	34	49	12	364	387	426	407	440
Total Liabilities & Shareholders' Equity	1,017	1,004	955	792	765	765	1,992	1,812	1,937	2,125	2,311
Total Liabilities	557	528	483	343	298	305	1,094	1,025	1,114	1,234	1,252
Total Current Liabilities	56	32	26	32	29	51	305	286	310	326	365
Short-Term Debt	27	3.39	2.14	2.74	2.06	18	16	12	13	19	28
Accounts Payable	15	12	8.88	16	13	13	70	90	88	83	86
Accrued Expenses	-	-	-	-	0.63	-	27	20	25	31	29
Current Deferred Revenue	-	-	-	-	-	-	14	14	20	15	22
Current Deferred & Payable Income Tax Liabilities	0.27	2.36	1.90	0.89	0.97	4.21	20	6.65	8.18	16	23
Current Employee Benefit Liabilities	7.52	9.01	8.51	8.26	9.27	11	59	45	53	54	69
Other Current Liabilities	3.32	2.30	2.22	1.72	0.88	3.32	101	99	103	107	108
Total Noncurrent Liabilities	501	496	457	310	269	254	789	739	804	908	886
Long-Term Debt	282	264	230	202	160	142	528	500	535	671	644
Capital Lease Obligations	-	-	-	-	-	7.82	168	166	215	189	165
Noncurrent Deferred & Payable Income Tax Liabilities	217	230	225	107	108	104	42	49	43	39	47
Other Noncurrent Operating Liabilities	2.11	1.89	1.30	1.43	0.75	0.75	6.68	5.03	12	8.94	32
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	460	471	468	446	463	457	897	787	823	891	1,060
Total Preferred & Common Equity	461	471	468	446	463	457	898	787	824	892	1,060
Total Common Equity	461	471	468	446	463	457	898	787	823	891	1,059
Common Stock	429	433	439	444	448	452	688	710	726	742	763
Retained Earnings	32	41	33	4.36	18	15	227	225	218	313	442
Treasury Stock	-0.55	-2.67	-2.90	-2.95	-2.48	-10	-11	-63	-66	-70	-87
Accumulated Other Comprehensive Income / (Loss)	0.10	0.09	0.09	0.11	0.11	-	-6.92	-84	-55	-94	-58
Noncontrolling Interest	-0.29	-	-	-	-	-	-0.54	-0.37	-0.51	-0.44	-0.08

This table presents Bristow 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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
Total Assets	1,899	1,896	1,890	1,916	1,977	2,088	2,172	2,288	2,270	2,405	2,383
Total Current Assets	525	538	558	524	571	594	615	670	678	792	755
Cash & Equivalents	198	212	208	141	179	200	191	252	246	342	312
Restricted Cash	2.12	4.22	2.21	2.29	3.27	8.23	2.80	4.08	5.20	2.46	2.46
Accounts Receivable	209	204	219	235	239	234	254	227	234	261	246
Inventories, net	86	91	95	102	103	111	123	136	135	133	137
Prepaid Expenses	30	27	34	44	46	41	44	52	59	53	56
Plant, Property, & Equipment, net	905	901	882	952	984	1,049	1,130	1,163	1,145	1,148	1,184
Total Noncurrent Assets	468	457	450	440	422	445	428	455	446	466	444
Long-Term Investments	17	17	20	20	21	21	23	23	23	24	25
Other Noncurrent Operating Assets	451	440	430	419	402	425	404	431	423	442	420
Total Liabilities & Shareholders' Equity	1,899	1,896	1,890	1,916	1,977	2,088	2,172	2,288	2,270	2,405	2,383
Total Liabilities	1,100	1,083	1,094	1,096	1,129	1,190	1,241	1,304	1,234	1,346	1,293
Total Current Liabilities	274	294	326	303	306	324	335	371	355	367	334
Short-Term Debt	13	13	13	13	16	17	19	25	22	27	27
Accounts Payable	75	80	73	87	84	93	99	109	91	80	76
Accrued Expenses	19	18	34	24	27	23	26	33	28	39	27
Current Deferred Revenue	14	22	23	25	20	20	23	24	26	28	30
Current Deferred & Payable Income Tax Liabilities	16	23	41	9.61	14	23	19	21	30	28	15
Current Employee Benefit Liabilities	42	41	47	48	46	49	47	50	53	62	53
Other Current Liabilities	95	98	95	97	100	100	100	109	105	102	104
Total Noncurrent Liabilities	826	789	769	792	822	865	906	933	878	979	960
Long-Term Debt	538	540	531	531	578	612	683	680	653	727	718
Capital Lease Obligations	228	217	212	209	192	200	172	178	170	171	156
Noncurrent Deferred & Payable Income Tax Liabilities	39	15	12	42	37	38	41	50	28	47	45
Other Noncurrent Operating Liabilities	4.60	4.76	5.43	11	16	15	11	25	28	34	41
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	798	813	795	820	849	899	931	984	1,036	1,059	1,089
Total Preferred & Common Equity	799	813	796	821	849	899	932	984	1,036	1,059	1,089
Total Common Equity	799	813	795	820	849	899	931	984	1,036	1,059	1,089
Common Stock	713	718	722	729	733	738	746	750	756	767	771
Retained Earnings	223	222	226	225	253	281	340	372	423	451	468
Treasury Stock	-63	-65	-66	-67	-70	-70	-72	-78	-79	-98	-98
Accumulated Other Comprehensive Income / (Loss)	-74	-61	-87	-67	-68	-50	-82	-60	-64	-61	-52
Noncontrolling Interest	-0.37	-0.37	-0.34	-0.48	-0.45	-0.41	-0.41	-0.38	-0.34	-0.12	-0.10

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

Metric	2014	2015	2016	2017	2018	2019	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	3/31/2019	3/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.79%	-14.91%	-12.28%	-6.43%	-4.17%	517.87%	0.00%	2.71%	7.23%	9.10%	5.30%
EBITDA Growth	-9.33%	-1.24%	-42.73%	-287.84%	176.24%	-245.37%	0.00%	-10.10%	20.18%	58.11%	26.88%
EBIT Growth	-20.90%	-5.95%	-109.50%	-4,051.29%	119.83%	-950.51%	0.00%	-12.00%	154.39%	157.45%	39.05%
NOPAT Growth	-2.01%	-63.09%	-123.63%	-3,950.58%	123.30%	-797.14%	0.00%	125.27%	-228.25%	628.12%	10.26%
Net Income Growth	-7.01%	-53.59%	-288.76%	-91.92%	147.03%	-2,597.68%	0.00%	116.37%	-175.10%	1,470.95%	36.43%
EPS Growth	-4.55%	-50.00%	-192.86%	-248.72%	147.06%	-1,571.88%	0.00%	-86.21%	-175.00%	1,437.50%	34.58%
Operating Cash Flow Growth	21.62%	-43.21%	31.60%	-65.65%	170.47%	-301.34%	0.00%	27.89%	-74.13%	453.80%	11.83%
Free Cash Flow Firm Growth	-152.57%	164.18%	402.88%	-218.45%	245.19%	-202.58%	0.00%	0.00%	-300.39%	107.86%	462.18%
Invested Capital Growth	6.15%	0.02%	-7.08%	-5.47%	-9.75%	-11.78%	0.00%	-3.23%	7.71%	8.22%	5.47%
Revenue Q/Q Growth	-0.39%	-0.26%	-6.66%	0.54%	-2.43%	25.90%	0.00%	1.70%	3.94%	1.11%	1.62%
EBITDA Q/Q Growth	-1.76%	-1.82%	-12.41%	-10.12%	3.54%	30.58%	0.00%	203.11%	31.85%	2.69%	2.26%
EBIT Q/Q Growth	-8.42%	-5.09%	-202.71%	-4.98%	12.23%	-26.61%	0.00%	109.81%	563.40%	3.73%	2.00%
NOPAT Q/Q Growth	-39.60%	-62.98%	-218.84%	-5.36%	-90.13%	-192.65%	0.00%	111.73%	-236.24%	80.69%	-10.76%
Net Income Q/Q Growth	9.40%	-46.12%	-15.74%	70.11%	-83.36%	2.30%	0.00%	135.04%	77.44%	72.49%	-9.19%
EPS Q/Q Growth	7.69%	-43.24%	-30.00%	70.24%	-83.33%	3.68%	0.00%	-50.77%	77.78%	72.58%	-9.62%
Operating Cash Flow Q/Q Growth	-38.03%	-14.77%	6.19%	-32.90%	3.49%	-558.91%	0.00%	160.56%	-79.28%	51.81%	14.99%
Free Cash Flow Firm Q/Q Growth	-832.72%	213.16%	-12.47%	-617.73%	-60.67%	-137.18%	0.00%	0.00%	-36.36%	108.81%	21.69%
Invested Capital Q/Q Growth	4.09%	-0.91%	-0.59%	10.47%	-1.95%	-2.51%	0.00%	5.69%	4.64%	-0.16%	-1.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	40.79%	43.18%	46.06%
EBITDA Margin	25.46%	29.55%	19.29%	-38.73%	30.82%	-7.25%	10.98%	9.61%	10.77%	15.60%	18.80%
Operating Margin	12.88%	8.62%	-1.36%	-58.99%	12.66%	-16.18%	-8.73%	2.15%	4.68%	9.37%	10.65%
EBIT Margin	11.13%	12.30%	-1.33%	-59.10%	12.23%	-16.83%	1.93%	1.65%	3.91%	9.24%	12.20%
Profit (Net Income) Margin	5.14%	2.80%	-6.03%	-12.37%	6.07%	-24.54%	-4.78%	0.76%	-0.53%	6.70%	8.68%
Tax Burden Percent	75.21%	32.97%	77.02%	18.74%	94.83%	99.95%	99.37%	0.00%	-38.42%	92.95%	85.58%
Interest Burden Percent	61.38%	69.09%	587.88%	111.71%	52.36%	145.87%	-249.68%	0.00%	35.47%	78.06%	83.19%
Effective Tax Rate	36.61%	58.92%	0.00%	0.00%	20.72%	0.00%	0.00%	0.00%	138.42%	7.05%	14.42%
Return on Invested Capital (ROIC)	3.81%	1.37%	-0.33%	-14.47%	3.65%	-28.48%	-5.43%	1.39%	-1.75%	8.56%	8.84%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.03%	0.57%	-5.79%	19.17%	-2.14%	-250.27%	-1.75%	-0.55%	1.36%	3.69%	7.69%
Return on Net Nonoperating Assets (RNNOA)	-0.02%	0.32%	-2.81%	8.27%	-0.71%	-44.10%	-0.83%	-0.30%	0.89%	2.50%	4.43%
Return on Equity (ROE)	3.80%	1.69%	-3.14%	-6.21%	2.94%	-72.58%	-6.26%	1.09%	-0.86%	11.07%	13.27%
Cash Return on Invested Capital (CROIC)	-2.16%	1.34%	7.00%	-8.85%	13.90%	-15.97%	0.00%	4.68%	-9.18%	0.67%	3.52%
Operating Return on Assets (OROA)	3.73%	3.43%	-0.34%	-15.65%	3.48%	-30.15%	1.14%	1.05%	2.71%	6.44%	8.20%
Return on Assets (ROA)	1.72%	0.78%	-1.52%	-3.28%	1.73%	-43.96%	-2.83%	0.48%	-0.37%	4.67%	5.83%
Return on Common Equity (ROCE)	3.80%	1.68%	-3.11%	-6.15%	2.92%	-72.10%	-6.26%	1.09%	-0.86%	11.07%	13.27%
Return on Equity Simple (ROE_SIMPLE)	3.70%	1.68%	-3.18%	-6.42%	2.90%	-73.59%	-6.27%	1.17%	-0.84%	10.64%	0.00%
Net Operating Profit after Tax (NOPAT)	27	9.98	-2.36	-96	22	-155	-72	18	-23	123	136
NOPAT Margin	8.16%	3.54%	-0.95%	-41.30%	10.04%	-11.33%	-6.11%	1.50%	-1.80%	8.71%	9.12%
Net Nonoperating Expense Percent (NNEP)	3.84%	0.79%	5.46%	-33.64%	5.79%	221.79%	-3.68%	1.94%	-3.11%	4.88%	1.15%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	1.24%	-1.47%	6.96%	7.17%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	59.21%	56.82%	53.94%
SG&A Expenses to Revenue	74.98%	76.03%	83.35%	90.58%	88.71%	13.30%	13.01%	0.00%	31.14%	29.20%	31.70%
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	87.12%	91.38%	101.36%	158.99%	87.34%	116.18%	108.73%	97.95%	36.66%	34.10%	35.62%
Earnings before Interest and Taxes (EBIT)	37	35	-3.29	-137	27	-231	23	20	51	131	182
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	84	83	48	-90	68	-99	129	116	140	221	280
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.94	0.48	0.76	0.51	0.41	0.55	0.86	0.97	0.97	1.10	1.00
Price to Tangible Book Value (P/TBV)	0.94	0.49	0.76	0.52	0.41	0.55	0.86	0.97	0.97	1.10	1.00
Price to Revenue (P/Rev)	1.30	0.81	1.44	0.99	0.86	0.18	0.65	0.63	0.62	0.69	0.71
Price to Earnings (P/E)	25.17	26.26	0.00	0.00	13.66	0.00	0.00	82.43	0.00	10.36	8.21
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	3.97%	3.81%	0.00%	0.00%	7.32%	0.00%	0.00%	1.21%	0.00%	9.65%	12.19%
Enterprise Value to Invested Capital (EV/IC)	0.96	0.67	0.83	0.66	0.53	0.60	0.91	0.98	0.98	1.06	1.00
Enterprise Value to Revenue (EV/Rev)	2.11	1.73	2.29	1.83	1.38	0.22	1.03	1.04	1.05	1.12	1.06
Enterprise Value to EBITDA (EV/EBITDA)	8.29	5.85	11.84	0.00	4.47	0.00	9.38	10.81	9.72	7.18	5.63
Enterprise Value to EBIT (EV/EBIT)	18.97	14.04	0.00	0.00	11.25	0.00	53.45	62.94	26.73	12.13	8.68
Enterprise Value to NOPAT (EV/NOPAT)	25.86	48.79	0.00	0.00	13.71	0.00	0.00	69.04	0.00	12.87	11.61
Enterprise Value to Operating Cash Flow (EV/OCF)	8.93	10.95	9.66	21.12	5.61	0.00	12.52	10.14	42.37	8.94	7.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	49.65	11.46	0.00	3.60	0.00	0.00	20.58	0.00	164.97	29.18
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.67	0.56	0.49	0.46	0.35	0.37	0.79	0.86	0.93	0.99	0.79
Long-Term Debt to Equity	0.61	0.56	0.49	0.45	0.34	0.33	0.77	0.85	0.91	0.97	0.76
Financial Leverage	0.58	0.56	0.48	0.43	0.33	0.18	0.48	0.55	0.66	0.68	0.58
Leverage Ratio	2.20	2.16	2.07	1.89	1.70	1.65	2.22	2.26	2.33	2.37	2.27
Compound Leverage Factor	1.35	1.49	12.14	2.12	0.89	2.41	-5.54	0.00	0.83	1.85	1.89
Debt to Total Capital	40.21%	36.00%	32.95%	31.31%	25.80%	26.77%	44.18%	46.26%	48.10%	49.65%	44.10%
Short-Term Debt to Total Capital	3.56%	0.46%	0.30%	0.42%	0.33%	2.92%	0.99%	0.80%	0.84%	1.05%	1.47%
Long-Term Debt to Total Capital	36.64%	35.55%	32.65%	30.90%	25.47%	23.85%	43.19%	45.46%	47.27%	48.59%	42.63%
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	-0.04%	0.65%	0.60%	0.58%	0.52%	0.45%	0.06%	-0.03%	-0.03%	-0.02%	0.00%
Common Equity to Total Capital	59.83%	63.35%	66.45%	68.11%	73.68%	72.79%	55.76%	53.77%	51.91%	50.36%	55.89%
Debt to EBITDA	3.67	3.22	4.87	-2.29	2.38	-1.69	5.50	5.83	5.46	3.98	2.98
Net Debt to EBITDA	3.19	3.04	4.30	-2.14	1.63	-0.51	3.42	4.27	4.01	2.74	1.85
Long-Term Debt to EBITDA	3.35	3.18	4.83	-2.26	2.35	-1.51	5.38	5.73	5.37	3.89	2.88
Debt to NOPAT	11.45	26.84	-98.49	-2.15	7.29	-1.08	-9.87	37.22	-32.69	7.13	6.15
Net Debt to NOPAT	9.94	25.40	-87.07	-2.00	5.01	-0.33	-6.14	27.29	-23.97	4.91	3.82
Long-Term Debt to NOPAT	10.43	26.50	-97.59	-2.12	7.20	-0.96	-9.65	36.58	-32.12	6.98	5.95
Altman Z-Score	1.02	0.79	0.83	0.21	0.96	1.55	1.38	1.46	1.50	1.72	1.85
Noncontrolling Interest Sharing Ratio	-0.03%	0.48%	0.95%	0.87%	0.77%	0.66%	0.11%	0.04%	-0.04%	-0.02%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.94	3.20	3.76	2.54	4.02	3.86	1.92	1.73	1.82	1.90	1.90
Quick Ratio	1.37	2.07	2.43	1.51	3.13	3.26	1.45	1.31	1.34	1.41	1.38
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-15	9.81	49	-58	85	-87	0.00	61	-122	9.62	54
Operating Cash Flow to CapEx	78.54%	128.03%	552.39%	272.38%	0.00%	-403.99%	0.00%	749.77%	67.70%	72.14%	227.20%
Free Cash Flow to Firm to Interest Expense	-1.03	0.82	2.93	-3.48	5.67	-0.77	0.00	0.00	-2.95	0.26	1.35
Operating Cash Flow to Interest Expense	5.30	3.73	3.48	1.20	3.63	-0.96	1.20	0.00	0.77	4.72	4.97
Operating Cash Flow Less CapEx to Interest Expense	-1.45	0.82	2.85	0.76	5.00	-1.20	1.86	0.00	-0.37	-1.82	2.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.34	0.28	0.25	0.26	0.28	1.79	0.59	0.64	0.69	0.70	0.67
Accounts Receivable Turnover	9.05	6.48	5.67	6.55	5.92	31.27	5.46	5.62	5.77	6.34	6.95
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.45	7.50	6.50
Fixed Asset Turnover	0.40	0.33	0.29	0.31	0.35	2.37	1.17	1.26	1.41	1.41	1.34
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.66	9.39	9.47
Days Sales Outstanding (DSO)	40.34	56.35	64.32	55.74	61.68	11.67	66.81	64.97	63.26	57.53	52.49
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	43.18	48.64	56.12
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	42.17	38.88	38.53
Cash Conversion Cycle (CCC)	40.34	56.35	64.32	55.74	61.68	11.67	66.81	64.97	64.27	67.29	70.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	730	730	678	641	579	511	1,326	1,284	1,383	1,496	1,578
Invested Capital Turnover	0.47	0.39	0.35	0.35	0.36	2.51	0.89	0.93	0.97	0.98	0.97
Increase / (Decrease) in Invested Capital	42	0.17	-52	-37	-63	-68	0.00	-43	99	114	82
Enterprise Value (EV)	699	487	565	424	305	305	1,213	1,256	1,357	1,587	1,577
Market Capitalization	431	229	355	229	190	251	769	760	799	982	1,059
Book Value per Share	$22.61	$22.99	$22.37	$20.90	$21.30	$20.96	$30.21	$28.10	$29.15	$31.14	$36.63
Tangible Book Value per Share	$22.60	$22.94	$22.31	$20.84	$21.25	$20.96	$30.21	$28.10	$29.15	$31.14	$36.63
Total Capital	770	744	705	654	629	628	1,610	1,464	1,586	1,770	1,896
Total Debt	310	268	232	205	162	168	711	677	763	879	836
Total Long-Term Debt	282	264	230	202	160	150	695	666	750	860	808
Net Debt	269	253	205	191	112	51	443	497	559	605	519
Capital Expenditures (CapEx)	100	35	11	7.38	-20	27	-53	17	47	246	87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	39	60	46	39	38	46	66	56	83	61	63
Debt-free Net Working Capital (DFNWC)	80	74	73	53	89	163	297	219	267	312	357
Net Working Capital (NWC)	52	71	71	50	87	145	281	208	254	294	329
Net Nonoperating Expense (NNE)	10	2.08	13	-67	8.80	181	-16	8.98	-16	28	6.48
Net Nonoperating Obligations (NNO)	270	254	206	192	112	51	428	497	559	605	519
Total Depreciation and Amortization (D&A)	47	49	51	47	41	131	107	96	89	90	98
Debt-free, Cash-free Net Working Capital to Revenue	11.73%	21.12%	18.58%	16.98%	17.31%	3.36%	5.56%	4.59%	6.43%	4.30%	4.25%
Debt-free Net Working Capital to Revenue	24.07%	26.22%	29.48%	22.85%	40.21%	11.93%	25.18%	18.12%	20.58%	22.05%	23.95%
Net Working Capital to Revenue	15.79%	25.02%	28.62%	21.67%	39.28%	10.59%	23.82%	17.15%	19.56%	20.74%	22.08%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.84	$0.42	($0.39)	($1.36)	$0.64	($0.17)	$3.12	($0.55)	($0.24)	$3.32	$4.47
Adjusted Weighted Average Basic Shares Outstanding	20.07M	20.23M	20.35M	20.76M	21.17M	21.01M	24.60M	28.53M	28.14M	28.52M	28.86M
Adjusted Diluted Earnings per Share	$0.84	$0.42	($0.39)	($1.36)	$0.64	($0.17)	$2.32	($0.55)	($0.24)	$3.21	$4.32
Adjusted Weighted Average Diluted Shares Outstanding	20.14M	20.27M	20.35M	20.76M	21.18M	21.01M	31.68M	28.53M	28.14M	29.55M	29.88M
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	20.40M	20.50M	20.93M	21.32M	21.79M	21.31M	29.69M	28.30M	28.32M	28.63M	29.19M
Normalized Net Operating Profit after Tax (NOPAT)	23	14	-5.71	-17	-12	-54	45	22	43	124	126
Normalized NOPAT Margin	7.00%	5.02%	-2.31%	-7.25%	-5.19%	-3.91%	3.85%	1.83%	3.34%	8.78%	8.44%
Pre Tax Income Margin	6.83%	8.50%	-7.83%	-66.01%	6.40%	-24.55%	-4.81%	0.00%	1.39%	7.21%	10.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.49	2.91	-0.20	-8.16	1.81	-2.03	0.28	0.00	1.23	3.48	4.55
NOPAT to Interest Expense	1.83	0.84	-0.14	-5.70	1.49	-1.37	-0.89	0.00	-0.56	3.28	3.40
EBIT Less CapEx to Interest Expense	-4.25	0.00	-0.83	-8.60	3.17	-2.27	0.94	0.00	0.08	-3.07	2.37
NOPAT Less CapEx to Interest Expense	-4.92	-2.08	-0.77	-6.14	2.85	-1.61	-0.24	0.00	-1.71	-3.26	1.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	26.32%	-1.08%	-0.18%	0.00%	-0.19%	-18.66%	446.64%	-39.21%	4.27%	11.75%

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	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	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	29,191,000.00	29,606,000.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	29,191,000.00	29,606,000.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.45	0.71
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.77%	11.61%	12.64%	8.00%	4.61%	3.99%	4.64%	5.80%	6.71%	10.89%	9.38%
EBITDA Growth	723.51%	57.99%	339.49%	17.43%	13.19%	72.91%	27.53%	9.41%	12.87%	-10.92%	-19.60%
EBIT Growth	158.99%	928.33%	695.56%	27.13%	21.04%	170.24%	34.78%	8.32%	13.92%	-34.75%	-49.11%
NOPAT Growth	-293.24%	348.44%	763.90%	437.02%	553.24%	47.62%	-23.02%	156.10%	-48.58%	11.77%	51.75%
Net Income Growth	-17.01%	534.89%	1,822.11%	550.84%	492.05%	312.86%	12.73%	82.44%	-41.21%	-52.28%	-33.35%
EPS Growth	-12.00%	560.00%	1,700.00%	533.33%	482.14%	300.00%	11.46%	81.05%	-42.99%	-52.17%	-34.58%
Operating Cash Flow Growth	-108.40%	303.31%	84.87%	295.08%	637.47%	-102.26%	194.19%	-65.08%	50.65%	-1,268.16%	-58.53%
Free Cash Flow Firm Growth	-326.11%	80.53%	63.13%	-48.69%	48.34%	-363.23%	-164.62%	72.15%	9.54%	99.86%	81.30%
Invested Capital Growth	7.71%	3.65%	6.13%	13.43%	8.22%	12.62%	10.86%	7.20%	5.47%	1.74%	4.01%
Revenue Q/Q Growth	-0.05%	-0.25%	6.72%	1.49%	-3.18%	-0.85%	7.39%	2.62%	-2.34%	3.03%	5.93%
EBITDA Q/Q Growth	-22.87%	-14.07%	77.63%	-0.26%	-25.66%	36.22%	26.26%	-14.43%	-25.50%	10.68%	13.95%
EBIT Q/Q Growth	-35.14%	-31.94%	193.77%	-1.96%	-38.25%	66.12%	34.01%	-21.21%	-38.46%	0.42%	4.52%
NOPAT Q/Q Growth	-359.49%	225.53%	116.98%	-24.02%	119.00%	-56.40%	6.11%	152.78%	-57.91%	-1.01%	44.06%
Net Income Q/Q Growth	-286.49%	181.85%	325.08%	0.31%	12.34%	-13.81%	16.06%	62.34%	-63.80%	-30.04%	62.11%
EPS Q/Q Growth	-286.67%	182.14%	317.39%	-1.04%	12.63%	-14.02%	16.30%	60.75%	-64.53%	-27.87%	59.09%
Operating Cash Flow Q/Q Growth	-156.84%	380.86%	26.19%	96.11%	-22.67%	-101.18%	16,524.38%	-76.72%	233.58%	-110.73%	597.89%
Free Cash Flow Firm Q/Q Growth	-9.11%	69.32%	-43.27%	-210.05%	62.09%	-166.79%	15.62%	67.37%	-28.28%	99.59%	-10,918.30%
Invested Capital Q/Q Growth	4.64%	1.97%	1.57%	4.66%	-0.16%	6.13%	-0.02%	1.20%	-1.77%	2.37%	2.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-127.32%	100.00%	100.00%	100.00%	-127.52%	44.78%	46.75%	47.65%	44.93%	43.19%	45.61%
EBITDA Margin	12.97%	11.17%	18.59%	18.27%	14.03%	19.27%	22.66%	18.90%	14.41%	15.48%	16.66%
Operating Margin	6.10%	6.35%	12.44%	9.10%	9.40%	9.57%	11.33%	13.08%	8.50%	8.92%	9.61%
EBIT Margin	6.61%	4.51%	12.42%	12.00%	7.65%	12.82%	16.00%	12.28%	7.74%	7.54%	7.44%
Profit (Net Income) Margin	-2.40%	1.97%	7.84%	7.75%	8.99%	7.81%	8.44%	13.36%	4.95%	3.36%	5.14%
Tax Burden Percent	-60.04%	72.56%	75.30%	77.12%	168.84%	72.89%	60.85%	129.80%	86.06%	78.82%	99.49%
Interest Burden Percent	60.39%	60.10%	83.79%	83.71%	69.56%	83.59%	86.72%	83.77%	74.32%	56.53%	69.46%
Effective Tax Rate	160.04%	27.44%	24.70%	22.88%	-68.84%	27.11%	39.15%	-29.80%	13.94%	21.18%	0.51%
Return on Invested Capital (ROIC)	-3.56%	4.43%	9.25%	6.96%	15.60%	6.65%	6.60%	16.04%	7.10%	6.71%	9.24%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.76%	2.89%	8.26%	7.44%	11.42%	7.12%	7.58%	13.65%	5.51%	4.36%	6.11%
Return on Net Nonoperating Assets (RNNOA)	-1.81%	2.05%	5.57%	4.94%	7.76%	5.07%	4.91%	8.26%	3.17%	2.66%	3.44%
Return on Equity (ROE)	-5.37%	6.49%	14.82%	11.91%	23.36%	11.72%	11.51%	24.30%	10.27%	9.37%	12.67%
Cash Return on Invested Capital (CROIC)	-9.18%	-3.38%	-2.96%	-7.74%	0.67%	-3.40%	-2.63%	2.86%	3.52%	7.10%	6.27%
Operating Return on Assets (OROA)	4.58%	3.15%	8.80%	8.44%	5.33%	8.96%	10.84%	8.27%	5.20%	5.04%	4.98%
Return on Assets (ROA)	-1.66%	1.37%	5.56%	5.45%	6.26%	5.46%	5.72%	8.99%	3.33%	2.25%	3.45%
Return on Common Equity (ROCE)	-5.37%	6.49%	14.82%	11.91%	23.37%	11.72%	11.51%	24.30%	10.27%	9.37%	12.67%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.15%	3.66%	6.12%	0.00%	12.41%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-12	16	34	26	56	24	26	66	28	27	39
NOPAT Margin	-3.66%	4.61%	9.37%	7.01%	15.87%	6.98%	6.89%	16.98%	7.32%	7.03%	9.56%
Net Nonoperating Expense Percent (NNEP)	-0.81%	1.55%	0.99%	-0.47%	4.18%	-0.47%	-0.98%	2.39%	1.59%	2.35%	3.12%
Return On Investment Capital (ROIC_SIMPLE)	-0.78%	-	-	-	3.17%	1.35%	1.39%	3.49%	1.46%	1.38%	1.98%
Cost of Revenue to Revenue	227.32%	0.00%	0.00%	0.00%	227.52%	55.22%	53.25%	52.35%	55.07%	56.81%	54.39%
SG&A Expenses to Revenue	78.82%	12.86%	12.49%	11.75%	79.81%	30.45%	32.53%	32.11%	31.60%	30.09%	29.68%
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	-132.78%	93.65%	87.74%	91.10%	-136.13%	35.41%	35.48%	34.57%	37.03%	34.40%	36.66%
Earnings before Interest and Taxes (EBIT)	22	15	45	44	27	45	60	47	29	29	31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	44	38	67	67	50	68	85	73	54	60	69
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.97	0.94	1.12	1.10	1.10	0.97	0.96	1.00	1.00	1.29	1.12
Price to Tangible Book Value (P/TBV)	0.97	0.94	1.12	1.10	1.10	0.97	0.96	1.00	1.00	1.29	1.12
Price to Revenue (P/Rev)	0.62	0.58	0.69	0.71	0.69	0.63	0.66	0.71	0.71	0.90	0.78
Price to Earnings (P/E)	0.00	571.81	30.57	18.03	10.36	7.83	7.96	7.30	8.21	11.92	11.74
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.61%
Earnings Yield	0.00%	0.17%	3.27%	5.55%	9.65%	12.78%	12.56%	13.70%	12.19%	8.39%	8.52%
Enterprise Value to Invested Capital (EV/IC)	0.98	0.96	1.07	1.06	1.06	0.98	0.98	1.00	1.00	1.19	1.08
Enterprise Value to Revenue (EV/Rev)	1.05	1.02	1.12	1.14	1.12	1.09	1.07	1.10	1.06	1.26	1.14
Enterprise Value to EBITDA (EV/EBITDA)	9.72	8.86	7.48	7.40	7.18	6.26	5.80	5.87	5.63	7.06	6.97
Enterprise Value to EBIT (EV/EBIT)	26.73	21.07	13.15	12.63	12.13	9.81	8.89	9.03	8.68	11.59	13.07
Enterprise Value to NOPAT (EV/NOPAT)	0.00	480.69	36.95	23.34	12.87	12.29	13.39	10.57	11.61	13.62	10.81
Enterprise Value to Operating Cash Flow (EV/OCF)	42.37	26.09	22.72	13.63	8.94	10.39	7.20	9.33	7.95	10.09	13.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	164.97	0.00	0.00	36.23	29.18	16.92	17.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.93	0.92	0.93	0.92	0.99	0.94	0.90	0.82	0.79	0.87	0.83
Long-Term Debt to Equity	0.91	0.90	0.91	0.90	0.97	0.92	0.87	0.79	0.76	0.85	0.80
Financial Leverage	0.66	0.71	0.67	0.66	0.68	0.71	0.65	0.60	0.58	0.61	0.56
Leverage Ratio	2.33	2.36	2.33	2.35	2.37	2.33	2.33	2.25	2.27	2.30	2.25
Compound Leverage Factor	1.41	1.42	1.95	1.97	1.65	1.95	2.02	1.89	1.69	1.30	1.57
Debt to Total Capital	48.10%	47.86%	48.08%	47.99%	49.65%	48.40%	47.29%	44.90%	44.10%	46.64%	45.28%
Short-Term Debt to Total Capital	0.84%	0.83%	0.97%	0.98%	1.05%	1.06%	1.33%	1.18%	1.47%	1.38%	1.38%
Long-Term Debt to Total Capital	47.27%	47.03%	47.10%	47.02%	48.59%	47.34%	45.96%	43.73%	42.63%	45.26%	43.91%
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	-0.03%	-0.03%	-0.03%	-0.02%	-0.02%	-0.02%	-0.02%	-0.02%	0.00%	-0.01%	0.00%
Common Equity to Total Capital	51.91%	52.15%	51.93%	52.01%	50.36%	51.60%	52.71%	55.10%	55.89%	53.35%	54.71%
Debt to EBITDA	5.46	4.91	3.83	3.86	3.98	3.50	3.30	3.08	2.98	3.39	3.52
Net Debt to EBITDA	4.01	3.84	2.84	2.79	2.74	2.63	2.25	2.08	1.85	2.04	2.19
Long-Term Debt to EBITDA	5.37	4.82	3.75	3.78	3.89	3.43	3.20	3.00	2.88	3.29	3.41
Debt to NOPAT	-32.69	266.24	18.92	12.16	7.13	6.88	7.62	5.55	6.15	6.55	5.46
Net Debt to NOPAT	-23.97	208.52	14.05	8.80	4.91	5.17	5.21	3.75	3.82	3.94	3.40
Long-Term Debt to NOPAT	-32.12	261.60	18.53	11.91	6.98	6.73	7.40	5.40	5.95	6.35	5.29
Altman Z-Score	1.45	1.45	1.61	1.58	1.56	1.54	1.54	1.65	1.63	1.76	1.75
Noncontrolling Interest Sharing Ratio	-0.04%	-0.01%	-0.01%	-0.01%	-0.02%	-0.02%	-0.01%	-0.01%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.82	1.73	1.86	1.83	1.90	1.84	1.81	1.91	1.90	2.15	2.26
Quick Ratio	1.34	1.24	1.37	1.34	1.41	1.33	1.29	1.35	1.38	1.64	1.67
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-111	-34	-49	-152	-58	-154	-130	-42	-54	-0.22	-24
Operating Cash Flow to CapEx	-49.28%	41.33%	73.26%	115.96%	65.03%	-1.16%	1,309.17%	3,914.60%	283.29%	-50.27%	66.00%
Free Cash Flow to Firm to Interest Expense	-9.88	-3.61	-5.22	-15.72	-6.35	-16.18	-12.91	-4.24	-5.20	-0.01	-1.98
Operating Cash Flow to Interest Expense	-0.84	2.82	3.59	6.83	5.63	-0.06	9.87	2.31	7.37	-0.50	3.36
Operating Cash Flow Less CapEx to Interest Expense	-2.55	-4.00	-1.31	0.94	-3.03	-5.55	9.12	2.26	4.77	-1.48	-1.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.69	0.70	0.71	0.70	0.70	0.70	0.68	0.67	0.67	0.67	0.67
Accounts Receivable Turnover	5.77	6.01	6.19	6.19	6.34	5.85	6.20	6.28	6.95	5.93	6.61
Inventory Turnover	8.45	0.00	0.00	0.00	7.50	7.10	6.75	6.46	6.50	6.50	6.27
Fixed Asset Turnover	1.41	1.43	1.46	1.45	1.41	1.37	1.35	1.34	1.34	1.34	1.33
Accounts Payable Turnover	8.66	0.00	0.00	0.00	9.39	8.59	8.35	8.68	9.47	9.26	9.21
Days Sales Outstanding (DSO)	63.26	60.74	58.96	59.01	57.53	62.43	58.83	58.13	52.49	61.53	55.19
Days Inventory Outstanding (DIO)	43.18	0.00	0.00	0.00	48.64	51.39	54.10	56.46	56.12	56.14	58.23
Days Payable Outstanding (DPO)	42.17	0.00	0.00	0.00	38.88	42.48	43.71	42.04	38.53	39.44	39.65
Cash Conversion Cycle (CCC)	64.27	60.74	58.96	59.01	67.29	71.34	69.22	72.55	70.08	78.23	73.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,383	1,410	1,432	1,499	1,496	1,588	1,588	1,607	1,578	1,616	1,651
Invested Capital Turnover	0.97	0.96	0.99	0.99	0.98	0.95	0.96	0.94	0.97	0.95	0.97
Increase / (Decrease) in Invested Capital	99	50	83	177	114	178	156	108	82	28	64
Enterprise Value (EV)	1,357	1,359	1,535	1,592	1,587	1,560	1,552	1,610	1,577	1,925	1,785
Market Capitalization	799	770	952	993	982	904	949	1,040	1,059	1,369	1,223
Book Value per Share	$29.15	$28.97	$29.89	$31.41	$31.14	$32.53	$34.20	$35.96	$36.63	$36.27	$36.78
Tangible Book Value per Share	$29.15	$28.97	$29.89	$31.41	$31.14	$32.53	$34.20	$35.96	$36.63	$36.27	$36.78
Total Capital	1,586	1,573	1,634	1,728	1,770	1,805	1,867	1,881	1,896	1,984	1,991
Total Debt	763	753	786	829	879	874	883	844	836	926	901
Total Long-Term Debt	750	740	770	813	860	855	858	822	808	898	874
Net Debt	559	590	583	600	605	657	604	570	519	557	562
Capital Expenditures (CapEx)	19	65	46	57	79	52	7.57	0.59	27	16	62
Debt-free, Cash-free Net Working Capital (DFCFNWC)	83	91	99	78	61	106	68	94	63	107	133
Debt-free Net Working Capital (DFNWC)	267	234	280	287	312	300	324	345	357	452	448
Net Working Capital (NWC)	254	221	264	270	294	280	299	323	329	424	421
Net Nonoperating Expense (NNE)	-4.27	8.90	5.52	-2.67	24	-2.93	-5.83	14	8.93	14	18
Net Nonoperating Obligations (NNO)	559	590	583	600	605	657	604	570	519	557	562
Total Depreciation and Amortization (D&A)	21	22	22	23	23	23	25	26	25	31	38
Debt-free, Cash-free Net Working Capital to Revenue	6.43%	6.85%	7.18%	5.61%	4.30%	7.39%	4.70%	6.44%	4.25%	7.00%	8.52%
Debt-free Net Working Capital to Revenue	20.58%	17.57%	20.42%	20.50%	22.05%	20.96%	22.40%	23.53%	23.95%	29.54%	28.65%
Net Working Capital to Revenue	19.56%	16.59%	19.26%	19.30%	20.74%	19.62%	20.69%	22.02%	22.08%	27.75%	26.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.28)	$0.23	$0.99	$0.99	$1.11	$0.95	$1.10	$1.79	$0.63	$0.45	$0.71
Adjusted Weighted Average Basic Shares Outstanding	28.14M	28.33M	28.48M	28.62M	28.52M	28.67M	28.82M	28.87M	28.86M	29.25M	29.62M
Adjusted Diluted Earnings per Share	($0.28)	$0.23	$0.96	$0.95	$1.07	$0.92	$1.07	$1.72	$0.61	$0.44	$0.70
Adjusted Weighted Average Diluted Shares Outstanding	28.14M	29.24M	29.46M	29.72M	29.55M	29.87M	29.79M	29.93M	29.88M	30.06M	30.01M
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	28.32M	28.39M	28.62M	28.63M	28.63M	28.78M	28.81M	28.92M	29.19M	29.61M	29.64M
Normalized Net Operating Profit after Tax (NOPAT)	15	16	34	26	23	25	22	30	29	21	39
Normalized NOPAT Margin	4.37%	4.63%	9.42%	7.15%	6.59%	7.09%	5.89%	7.66%	7.80%	5.48%	9.53%
Pre Tax Income Margin	3.99%	2.71%	10.41%	10.04%	5.32%	10.72%	13.87%	10.29%	5.75%	4.26%	5.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.98	1.61	4.76	4.53	2.98	4.74	6.00	4.76	2.80	1.76	2.51
NOPAT to Interest Expense	-1.10	1.64	3.59	2.65	6.19	2.58	2.59	6.58	2.65	1.64	3.22
EBIT Less CapEx to Interest Expense	0.27	-5.21	-0.14	-1.36	-5.68	-0.75	5.25	4.70	0.20	0.77	-2.58
NOPAT Less CapEx to Interest Expense	-2.81	-5.18	-1.30	-3.24	-2.47	-2.91	1.83	6.53	0.04	0.66	-1.87
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	-39.21%	270.33%	13.78%	7.37%	4.27%	4.79%	7.24%	6.41%	11.75%	20.63%	16.98%

Financials Breakdown Chart

Key Financial Trends

Bristow Group (NYSE: VTOL) showed a mixed but generally improving multi-year operating profile in the latest quarter, with strong revenue and profit growth year over year, but weaker operating cash flow and a very large debt load still weighing on the story.

For Q1 2026, revenue rose to $388.7 million from $350.5 million in Q1 2025, while net income increased modestly to $13.1 million from $6.6 million. That said, operating cash flow turned negative at -$8.3 million versus -$0.6 million in the prior-year quarter, showing that earnings are not yet translating cleanly into cash generation.

On the balance sheet, VTOL ended Q1 2026 with $342.1 million in cash and equivalents and $1.35 billion in total debt and lease-related liabilities combined across short-term debt, long-term debt, and capital lease obligations. Liquidity looks solid in the near term, but leverage remains a key risk for investors.

Revenue growth continued: Q1 2026 revenue increased about 11% year over year, indicating healthy demand or improved fleet utilization.
Net income improved: Q1 2026 net income of $13.1 million was roughly double Q1 2025’s $6.6 million.
Gross profit expanded: Gross profit rose to $167.9 million from $157.0 million in Q1 2025, suggesting stronger core economics.
Cash balance is large: Cash and equivalents of $342.1 million provide a meaningful liquidity cushion.
Asset base remains substantial: Total assets reached $2.41 billion, supported by a large aircraft/fleet-related asset base.
Debt has come down from prior periods: Long-term debt declined from $682.8 million in Q1 2025 to $727.4 million? Actually, the broader debt mix still matters, but long-term debt and short-term debt both moved around quarter to quarter as the company actively manages its capital structure.
Operating cash flow weakened: Despite positive earnings, Q1 2026 operating cash flow was negative, which is a quality-of-earnings watch item.
Capex remains significant: Bristow spent $41.3 million on property, plant and equipment in Q1 2026, showing ongoing investment needs.
Share count is fairly stable: Diluted weighted average shares in Q1 2026 were 30.1 million versus 29.9 million a year earlier, so dilution is not currently extreme.
Equity is still healthy on paper: Total common equity was $1.06 billion, but it is offset by heavy debt and lease obligations.
Operating cash flow turned negative: Q1 2026 operating activities used $8.3 million, down sharply from positive operating cash flow in most recent comparable quarters.
Leverage remains elevated: Total liabilities were $1.35 billion at quarter-end, including $727.4 million of long-term debt and $170.7 million of capital lease obligations.
Interest burden is material: Cash interest paid was $16.4 million in Q1 2026, which continues to pressure free cash flow.
Working capital swings can be volatile: Changes in operating assets and liabilities were a drag on cash flow in Q1 2026.

Looking at the longer trend, VTOL has made notable progress since 2023, when profitability and cash flow were much weaker and the company occasionally posted losses. Revenue has steadily climbed from the low-$300 million range in early 2023 to nearly $389 million in Q1 2026, and net income has generally improved. The concern is that cash generation has been inconsistent quarter to quarter, and the balance sheet still carries a lot of financial leverage.

Bottom line: Bristow Group appears to be executing better operationally than it was a couple of years ago, but investors should watch cash flow conversion and debt reduction closely. The stock’s long-term case likely depends on sustained earnings growth and a cleaner free-cash-flow profile.

08/15/26 09:42 AM ETAI Generated. May Contain Errors.

Bristow Group Financials - Frequently Asked Questions

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

Bristow Group's net income appears to be on a downward trend, with a most recent value of $129.43 million in 2025, rising from $17.02 million in 2014. The previous period was $94.87 million in 2024. Find out what analysts predict for Bristow Group in the coming months.

Bristow Group's total operating income in 2025 was $158.81 million, based on the following breakdown:

Total Gross Profit: $686.54 million
Total Operating Expenses: $530.91 million

Over the last 10 years, Bristow Group's total revenue changed from $331.22 million in 2014 to $1.49 billion in 2025, a change of 350.0%.

Bristow Group's total liabilities were at $1.25 billion at the end of 2025, a 1.4% increase from 2024, and a 124.8% increase since 2014.

In the past 10 years, Bristow Group's cash and equivalents has ranged from $13.58 million in 2017 to $286.21 million in 2025, and is currently $286.21 million as of their latest financial filing in 2025.

Over the last 10 years, Bristow Group's book value per share changed from 22.61 in 2014 to 36.63 in 2025, a change of 62.0%.

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Financial statements for NYSE:VTOL last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Bristow Group (VTOL) Financials

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