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Tidewater vs Odyssey Marine Exploration: TDW and OMEX compared
Tidewater is the larger company: $342M of revenue in its latest quarter (Q2 2026) against $109K for Odyssey Marine Exploration (Q3 2026). Odyssey Marine Exploration is growing faster (+79% against +0.3% a year earlier).
Where the money goes: TDW and OMEX
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.
Odyssey Marine Exploration (OMEX) · Q3 2026
Odyssey Marine Exploration, Q3 2026: revenue $109K (+79% year over year), net loss $4.6M, operating cash flow −$6.0M. The chart follows the revenue to costs, profit and cash.
| Tidewater (TDW) | Odyssey Marine Exploration (OMEX) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $342M | $109K |
| Revenue growth, Y/Y | +0.3% | +79% |
| Operating margin | 18.3% | n/m |
| Net earnings | $21.7M | −$4.6M |
| Net margin | 6.3% | — |
| Operating cash flow | $67.0M | −$6.0M |
| Free cash flow | $52.1M | — |
| Market value | $3.5B | — |
| P/E | 14.3× | — |
| Analysts’ mean target | $96.75 | — |
Where the revenue comes from
Tidewater
- Vessel: $340M (99%)
- Product and Service, Other: $2.6M (1%)
Questions
Which is bigger, Tidewater or Odyssey Marine Exploration?
Tidewater is the larger company: $342M of revenue in its latest quarter (Q2 2026) against $109K for Odyssey Marine Exploration (Q3 2026).
Is Tidewater or Odyssey Marine Exploration growing faster?
Odyssey Marine Exploration is growing faster (+79% against +0.3% a year earlier).
More: Tidewater earnings · how Tidewater makes money · Odyssey Marine Exploration earnings · how Odyssey Marine Exploration makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 3, 2026; 10-Q filed Nov 2, 2026). Fiscal quarters can end on different dates. Not investment advice.