Helix Energy Solutions Group, Inc., together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the United States, North Sea, the Asia Pacific, West Africa, and internationally. The company operates through four segments: Well Intervention, Robotics, Shallow Water Abandonment, and Production Facilities. It engages in the installation of flowlines, control umbilicals, and manifold assemblies and risers; trenching and burial of pipelines; installation and tie-in of riser and manifold assembly; commissioning, testing, and inspection; and cable and umbilical lay. The company also provides well intervention, intervention engineering, and production enhancement services; coiled tubing operations; and inspection, repair, and maintenance IRM of production structures, trees, jumpers, risers, pipelines, and subsea equipment, as well as related support services. In addition, it offers reclamation and remediation services; well plug and abandonment P&A services; pipeline, cable and umbilical abandonment services; and site inspections. Further, the company offers oil and natural gas processing facilities and services; and fast response system, as well as site clearance and subsea support services. Additionally, it provides offshore oilfield decommissioning and reclamation, site clearance, project management, engineered solutions, intervention, heavy lift, and commercial diving services. It serves independent oil and gas producers and suppliers, pipeline transmission companies, renewable energy companies, and offshore engineering and construction firms. The company was formerly known as Cal Dive International, Inc. and changed its name to Helix Energy Solutions Group, Inc. in March 2006. The company was incorporated in 1979 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.3B | $210M | $31M | $120M | 2.0% | -4.9% | -44.6% |
| 2024 | $1.4B | $253M | $56M | $163M | 3.7% | 5.3% | -613.4% |
| 2023 | $1.3B | $167M | $-11M | $133M | -0.7% | 47.7% | -87.7% |
| 2022 | $873M | $74M | $-88M | $18M | -5.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 873.10 | 1,289.73 | 1,358.56 | 1,291.47 |
| Cost Of Revenue | - | 822.48 | 1,089.37 | 1,139 | 1,132.34 |
| Gross Profit | - | 50.62 | 200.36 | 219.56 | 159.14 |
| Operating Expense | - | 76.75 | 94.43 | 91.65 | 75.94 |
| Operating Income | - | -26.14 | 105.93 | 127.91 | 83.20 |
| EBITDA | - | 73.72 | 167.30 | 253.17 | 209.99 |
| EBIT | - | -55 | 28.87 | 115.96 | 75.45 |
| Pretax Income | - | -75.18 | 7.51 | 82.06 | 42.48 |
| Tax Provision | - | 12.60 | 18.35 | 26.43 | 11.65 |
| Net Income | - | -87.78 | -10.84 | 55.64 | 30.83 |
| Net Income Common Stockholders | - | -87.78 | -10.84 | 55.58 | 30.80 |
| Total Expenses | - | 899.24 | 1,183.80 | 1,230.65 | 1,208.28 |
| Interest Expense | - | 20.18 | 21.36 | 33.90 | 32.97 |
| Interest Income | - | 1.23 | 4.02 | 11.27 | 10.20 |
| Selling General And Administration | - | 76.75 | 94.43 | 91.65 | 75.94 |
| Normalized EBITDA | - | 92.44 | 246.99 | 274.57 | 228.06 |
| Normalized Income | - | -72.21 | 52.12 | 70.15 | 43.94 |
| Market Cap | 1,456.76 | 1,456.76 | 1,456.76 | 1,456.76 | 1,456.76 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Helix Energy Solutions Group, Inc.this co. | HLX | $1.5B | 47.26β premium | 0.92 | 2.0% | 7.82 |
| FLEX LNG Ltd. | FLNG | $1.7B | 23.13 | 2.40 | 10.4% | 12.95 |
| RPC, Inc. | RES | $1.7B | 55.27 | 1.61 | 2.9% | 7.43 |
| Dorian LPG Ltd. | LPG | $1.6B | 17.83 | 1.54 | 8.6% | 10.39 |
| Navigator Holdings Ltd. | NVGS | $1.4B |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 14.66 |
| 1.15 |
| 8.0% |
| 8.69 |
| ProFrac Holding Corp. | ACDC | $1.4B | - | 1.94 | -45.4% | 9.87 |
| NPK International Inc. | NPKI | $1.3B | 37.26 | 3.77 | 11.1% | 18.32 |
| Nordic American Tankers Limited | NAT | $1.2B | 92.17 | 2.63 | 9.2% | 17.71 |
| Diversified Energy Company | DEC | $1.1B | 3.57 | 1.28 | 34.3% | 4.59 |
| Peer Median | - | 23.13 | 1.77 | 8.9% | 10.13 | |