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W&T Offshore, Inc., an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of America. The company sells crude oil, condensate, natural gas, liquids, and natural gas liquids. The company also provides construction, drilling, and production activities necessary to retrieve oil and gas from its natural reservoirs, including the acquisition, construction, installation, and maintenance of field gathering and storage systems, such as lifting oil and gas, and gathering, treating, and field processing; and extraction of hydrocarbons, solid, liquid, or gaseous state, oil sands, shale, coalbeds, or other nonrenewable natural resources. W&T Offshore, Inc. was founded in 1983 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 | $501M | $87M | $-150M | $28M | 75.1% | -4.5% | 72.2% |
| 2024 | $525M | $119M | $-87M | $-59M | 165.7% | -1.4% | -658.7% |
| 2023 | $533M | $222M | $16M | $34M | 50.0% | -42.2% | -93.3% |
| 2022 | $921M | $488M | $231M | $244M | 3027.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 921 | 532.66 | 525.26 | 501.46 |
| Operating Revenue | - | 905.07 | 523.99 | 514.48 | 492.16 |
| Cost Of Revenue | - | 142.25 | 140.93 | 171.20 | 142.15 |
| Gross Profit | - | 778.75 | 391.73 | 354.06 | 359.31 |
| Operating Expense | - | 324.67 | 362.24 | 396.25 | 412.12 |
| Selling General And Administration | - | 298.16 | 333.22 | 363.88 | 378.74 |
| Total Expenses | - | 466.92 | 503.16 | 567.46 | 554.26 |
| Operating Income | - | 454.08 | 29.49 | -42.19 | -52.80 |
| Total Operating Income As Reported | - | 454.08 | 29.49 | -42.19 | -52.80 |
| EBITDA | - | 487.88 | 222.33 | 118.72 | 87.15 |
| Normalized EBITDA | - | 573.41 | 167.57 | 115.13 | 88.57 |
| EBIT | - | 354.25 | 78.63 | -56.68 | -62.64 |
| Interest Expense | - | 69.44 | 44.69 | 40.45 | 36.49 |
| Net Interest Income | - | -69.44 | -44.69 | -40.45 | -36.49 |
| Other Non Operating Income Expenses | - | -14.30 | -5.62 | -18.07 | -8.41 |
| Other Income Expense | - | -99.83 | 49.14 | -14.48 | -9.84 |
| Interest Expense Non Operating | - | 69.44 | 44.69 | 40.45 | 36.49 |
| Net Non Operating Interest Income Expense | - | -69.44 | -44.69 | -40.45 | -36.49 |
| Pretax Income | - | 284.81 | 33.94 | -97.13 | -99.14 |
| Tax Provision | - | 53.66 | 18.34 | -9.98 | 50.93 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -16.08 | 11.50 | 0.37 | -0.30 |
| Net Income Continuous Operations | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Net Income From Continuing And Discontinued Operation | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Net Income From Continuing Operation Net Minority Interest | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Net Income | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Net Income Common Stockholders | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Net Income Including Noncontrolling Interests | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Normalized Income | - | 300.60 | -27.66 | -90.37 | -148.94 |
| Diluted NI Availto Com Stockholders | - | 231.15 | 15.60 | -87.14 | -150.06 |
| Basic Average Shares | - | 143.14 | 146.48 | 147.13 | 148.21 |
| Diluted Average Shares | - | 145.09 | 148.30 | 147.13 | 148.21 |
| Reconciled Depreciation | - | 133.63 | 143.70 | 175.40 | 149.79 |
| Reconciled Cost Of Revenue | - | 142.25 | 140.93 | 171.20 | 142.15 |
| Total Unusual Items | - | -85.53 | 54.76 | 3.59 | -1.42 |
| Total Unusual Items Excluding Goodwill | - | -85.53 | 54.76 | 3.59 | -1.42 |
| Special Income Charges | - | 0 | 0 | 0 | -15.02 |
| Other Special Charges | - | - | - | - | 15.02 |
| Gain On Sale Of Security | - | -85.53 | 54.76 | 3.59 | 13.59 |
| General And Administrative Expense | - | 298.16 | 333.22 | 363.88 | 378.74 |
| Other Gand A | - | 73.75 | 75.54 | 82.39 | 79.96 |
| Rent Expense Supplemental | - | 224.41 | 257.68 | 281.49 | 298.78 |
| Other Operating Expenses | - | 26.51 | 29.02 | 32.37 | 33.38 |
| Rent And Landing Fees | - | 224.41 | 257.68 | 281.49 | 298.78 |
| Otherunder Preferred Stock Dividend | 0 | - | - | - | - |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| W&T Offshore, Inc.this co. | WTI | $610M | -4.06 | -3.05 | 75.1% | 9.56 |
| Vitesse Energy, Inc. | VTS | $743M | 29.39 | 1.18 | 4.0% | 5.00 |
| Granite Ridge Resources, Inc. | GRNT | $658M | 27.03 | 1.09 | 4.0% | 3.76 |
| Core Laboratories Inc. | CLB | $630M | 21.22 | 2.37 | 11.2% | 10.84 |
| Forum Energy Technologies, Inc. | FET | $606M | -62.77 |
| - |
| - |
| - |
| - |
| - |
| 2.08 |
| -3.3% |
| 11.53 |
| VAALCO Energy, Inc. | EGY | $600M | -14.50 | 1.35 | -9.3% | 7.50 |
| SandRidge Energy, Inc. | SD | $578M | 8.23 | 1.13 | 13.7% | 4.32 |
| Oil States International, Inc. | OIS | $523M | - | 0.91 | -19.1% | - |
| Natural Gas Services Group, Inc. | NGS | $521M | 26.15 | 1.90 | 7.3% | 9.94 |
| Peer Median | - | 21.22 | 1.27 | 4.0% | 7.50 | |