# Tidewater Midstream and Infrastructure Ltd. (TWM.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Energy / Oil, Gas & Consumable Fuels. Price C$20.54, market value C$451 million.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Tidewater Midstream and Infrastructure Ltd. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.3×**. Each dollar of revenue is priced at 0.3×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.6×**. The shares trade at 2.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 9.7×**. Enterprise value is 9.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 12.7%** (5-yr avg -38.6%). Free cash flow equals 12.7% of the market value, above its five-year average of -38.6%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.

## Profitability
- **Gross margin: 7.7%**. Tidewater Midstream and Infrastructure Ltd. keeps 7.7% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 5.8%**. 5.8% of revenue is left after running the business.
- **Net margin: -8.5%**. The company reported a net loss over the last twelve months.
- **Return on equity: -61.6%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 12.2%**. Return on all capital, debt included, is 12.2%.
- **Return on assets: -6.9%**. Each dollar of assets produces -6.9% of profit.

## Growth
- **Revenue growth (1 yr): -19.6%** (3-yr -22.9%/yr, 5-yr 6.1%/yr). Revenue fell 19.6% over the last year, against 6.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -319.2%**. Earnings per share fell 319.2%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 3.15**. Debt is 3.15 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 5.4×**. It would take 5.4 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 1.5×**. Operating profit covers interest 1.5×, thin but manageable.
- **Current ratio: 0.61** (quick 0.37). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.40**. A Z-score of 1.40 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Tidewater Midstream and Infrastructure Ltd. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 367.9%** (YTD 290.5%, 3-mo 19.7%). The shares are up 367.9% over twelve months including dividends.
- **From 52-week high: -16.1%** (357.5% above the low). Trading 16% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 49**. An RSI of 49 is neutral.
- **Beta (1 yr): 0.11** (volatility 51%). Beta of 0.11 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TWM.TO · Page: https://foliofundamentals.com/stocks/twm.to

Not investment advice.