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International Seaways vs Tidewater: INSW and TDW compared
International Seaways is the larger company: $483M of revenue in its latest quarter (Q3 2026) against $342M for Tidewater (Q2 2026). International Seaways is growing faster (+146% against +0.3% a year earlier). International Seaways is more profitable, with an operating margin of 72.7% against 18.3%.
Where the money goes: INSW and TDW
International Seaways (INSW) · Q3 2026
International Seaways, Q3 2026: revenue $483M (+146% year over year), operating margin 72.7%, net earnings $344M, operating cash flow $243M. The chart follows the revenue to costs, profit and cash.
Tidewater (TDW) · Q2 2026
Tidewater, Q2 2026: revenue $342M (+0.3% year over year), operating margin 18.3%, net earnings $21.7M, operating cash flow $67.0M. The chart follows the revenue to costs, profit and cash.
| International Seaways (INSW) | Tidewater (TDW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $483M | $342M |
| Revenue growth, Y/Y | +146% | +0.3% |
| Operating margin | 72.7% | 18.3% |
| Net earnings | $344M | $21.7M |
| Net margin | 71.2% | 6.3% |
| Operating cash flow | $243M | $67.0M |
| Free cash flow | $234M | $52.1M |
| Market value | $4.9B | $3.5B |
| P/E | 6.3× | 14.3× |
| Analysts’ mean target | $131.33 | $96.75 |
Where the revenue comes from
International Seaways
- Pool Revenue Leases: $216M (45%)
- Voyage charter revenues: $154M (32%)
- Time and Bareboat Charter Leases: $114M (24%)
Tidewater
- Vessel: $340M (99%)
- Product and Service, Other: $2.6M (1%)
Questions
Which is bigger, International Seaways or Tidewater?
International Seaways is the larger company: $483M of revenue in its latest quarter (Q3 2026) against $342M for Tidewater (Q2 2026).
Is International Seaways or Tidewater growing faster?
International Seaways is growing faster (+146% against +0.3% a year earlier).
Which is more profitable, International Seaways or Tidewater?
International Seaways is more profitable, with an operating margin of 72.7% against 18.3%.
More: International Seaways earnings · how International Seaways makes money · Tidewater earnings · how Tidewater makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 3, 2026). Fiscal quarters can end on different dates. Not investment advice.