Bristow Group (VTOL) AI Stock Analysis

• Market Cap: $1.28B
• Dividend Yield: N/A
• Average Volume (3M): 186.09K
• Price to Earnings (P/E): 9.4
• Beta (1Y): 1.20
• Revenue Growth: 4.78%
• EPS Growth: 156.83%
• Country: US
• Employees: 3,447
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 1.72
• Shares Outstanding: 28,920,000
• 10 Day Avg. Volume: 187,163
• 30 Day Avg. Volume: 186,089
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 0.69
• P/FCF Ratio: -12.54
• Enterprise Value/Market Cap: 1.55
• Enterprise Value/Revenue: 1.32
• Enterprise Value/Gross Profit: 4.59
• Enterprise Value/Ebitda: 8.43
• 1Y Price Target: $52.33
• Price Target Upside: 18.53% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: $50.00 ▲(13.25% Upside)

The score is driven by attractive valuation (low P/E) and a positive earnings outlook with raised/tightened EBITDA guidance, supported by strong price trend and positive momentum. The main offset is cash-flow quality (negative free cash flow) plus overbought technical readings that raise near-term volatility risk.

Positive Factors

Improving profitability and margins

Sustained margin expansion signals stronger pricing power and operational efficiency in core helicopter services. Higher gross and net margins provide a structural buffer against cyclical revenue swings in offshore energy, supporting durable earnings and reinvestment capacity over the next 2-6 months.

Strong liquidity position

Material cash and available liquidity increase financial flexibility to fund operations, service debt, and absorb contract transition costs. This liquidity supports execution of strategic initiatives and refinancing, reducing near-term default risk and enabling selective investment over the medium term.

Government services inflection

Rapidly improving government segment profitability diversifies revenue away from cyclical offshore energy. A near-doubling of operating income indicates contract scale and margin uplift, creating a more resilient revenue mix and higher recurring cash flow potential beyond commodity-driven cycles.

Negative Factors

Weak free cash flow conversion

Negative free cash flow despite improving growth highlights a structural conversion issue between reported earnings and cash available for debt reduction or capex. Low OCF-to-net-income reduces ability to self-fund fleet maintenance or VTOL investment without external financing over the next several quarters.

Persistent supply-chain constraints

Aircraft and aftermarket delays limit capacity to capture demand and raise maintenance costs, constraining revenue growth and utilization rates. Ongoing supply disruption can depress serviceable flight hours and increase capital and operating expense variability for multiple quarters.

Regional demand softness and lower utilization

Softer utilization across Europe, Africa and a mature North Sea market weigh on sustainable revenue growth for core offshore services. Structural regional weakness reduces pricing leverage and may prolong recovery timelines, pressuring segment margins and fleet deployment decisions over the medium term.

Bristow Group Business Overview & Revenue Model

Company Description

Bristow Group Inc. provides aviation services to integrated, national, and independent offshore energy companies in the United States. It also offers commercial search and rescue services; and other helicopter and fixed wing transportation services. As of March 31, 2022, the company had a fleet of 229 aircrafts, of which 213 were helicopters. It also has operations in Australia, Brazil, Canada, Chile, the Dutch Caribbean, Guyana, India, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, and the United Kingdom. The company was founded 1948 and is headquartered in Houston, Texas.

How the Company Makes Money

Bristow Group generates revenue primarily through its helicopter transportation services, which cater to the offshore oil and gas industry, as well as the wind energy sector. The company's revenue model includes contracts for long-term service agreements, flight hour billing, and project-based services. Key revenue streams come from daily operational flights, maintenance services, and training programs for pilots and crew. The company also benefits from strategic partnerships with major energy companies and government agencies, which secure consistent demand for its services. Additionally, Bristow's investment in VTOL technology positions it to capitalize on new market opportunities, further enhancing its earnings potential.

Bristow Group Financial Statement Overview

Summary

Financials are solid but uneven: income statement strength (improving profitability and ~49% gross margin, ~9.7% net margin) is offset by weaker cash-flow quality (negative free cash flow despite strong growth, and moderate operating cash flow vs. net income). Leverage appears manageable (debt-to-equity 0.65) with improved ROE (14.83%).

Income Statement

Bristow Group's income statement shows a strong performance with a consistent increase in revenue, evidenced by a TTM revenue growth rate of 1.46%. The gross profit margin has improved to 49.19% in the TTM, indicating effective cost management. The net profit margin also increased to 9.71%, reflecting enhanced profitability. However, the gross profit margin has decreased from the previous year, suggesting potential cost pressures.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.65, indicating a manageable level of debt. The return on equity has improved to 14.83%, showcasing effective utilization of equity. However, the equity ratio is not explicitly provided, which limits a comprehensive assessment of asset financing.

Cash Flow

Cash flow analysis reveals a significant improvement in free cash flow growth at 175.82%, although the free cash flow remains negative. The operating cash flow to net income ratio is 0.42, indicating moderate cash generation relative to net income. The negative free cash flow to net income ratio suggests challenges in converting profits into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.49B	1.42B	1.30B	1.20B	1.19B	1.14B
Gross Profit	429.76M	398.28M	330.81M	278.88M	191.81M	287.85M
EBITDA	234.01M	215.17M	141.18M	116.67M	124.34M	159.05M
Net Income	142.44M	94.80M	-6.78M	9.21M	-15.79M	-56.09M
Balance Sheet
Total Assets	2.27B	2.13B	1.94B	1.81B	1.82B	1.99B
Cash, Cash Equivalents and Short-Term Investments	250.71M	247.50M	180.26M	163.68M	263.77M	228.01M
Total Debt	924.61M	957.09M	838.32M	753.64M	720.98M	789.12M
Total Liabilities	1.23B	1.23B	1.11B	1.03B	988.91M	1.09B
Stockholders Equity	1.04B	891.71M	823.69M	787.31M	835.82M	897.61M
Cash Flow
Free Cash Flow	-23.84M	-77.97M	-49.47M	-63.70M	92.79M	82.00M
Operating Cash Flow	172.55M	177.42M	32.04M	-14.13M	123.85M	96.84M
Investing Cash Flow	-138.69M	-245.95M	-47.32M	-44.14M	-17.37M	173.27M
Financing Cash Flow	21.88M	141.10M	22.04M	-19.91M	-63.48M	-245.62M

Bristow Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 44.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VTOL, the sentiment is Positive. The current price of 44.15 is above the 20-day moving average (MA) of 40.86, above the 50-day MA of 38.41, and above the 200-day MA of 35.76, indicating a bullish trend. The MACD of 1.83 indicates Negative momentum. The RSI at 73.87 is Negative, neither overbought nor oversold. The STOCH value of 85.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VTOL.

Bristow Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FTI	80 Outperform	$22.35B	24.77	28.72%	0.44%	11.73%	45.70%
VTOL	74 Outperform	$1.28B	9.42	14.72%	―	4.78%	156.83%
NOV	72 Outperform	$6.70B	18.36	5.93%	3.24%	-1.43%	-63.13%
HLX	71 Outperform	$1.11B	28.05	2.71%	―	-1.95%	530.91%
OII	69 Neutral	$2.96B	13.30	28.92%	―	8.71%	72.09%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Bristow Group Corporate Events

Bristow Group completes major refinancing and credit extension

On January 26, 2026, Bristow Group Inc. completed a private offering of $500 million in 6.750% senior secured notes due 2033, guaranteed by key subsidiaries and secured against helicopters and other assets, while also amending and extending its asset‑based revolving credit facility to 2031 with reduced commitments of $70 million and lower pricing but an option to increase total commitments to $105 million. A portion of the note proceeds was used to redeem in full Bristow’s outstanding 6.875% senior secured notes due 2028, satisfying and discharging the related indenture and releasing associated liens, a refinancing that extends the company’s debt maturity profile, lowers the cost and complexity of its capital structure and supports a stronger liquidity position for its global aviation operations, with remaining proceeds earmarked for general corporate purposes.

The most recent analyst rating on (VTOL) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on Bristow Group stock, see the VTOL Stock Forecast page.

Bristow Group Launches $400 Million Senior Secured Notes

On January 13, 2026, Bristow Group Inc. announced it had launched, subject to market conditions, a private offering of $400 million in senior secured notes due 2033 to eligible institutional and non-U.S. investors under Rule 144A and Regulation S. The notes, secured by first-priority liens on a broad pool of collateral including roughly 70 pledged aircraft and guaranteed by key domestic and foreign subsidiaries, are intended to fund the full redemption and satisfaction of the company’s outstanding 6.875% senior secured notes due 2028, of which about $397 million remained as of September 30, 2025, marking a significant refinancing step that extends Bristow’s debt maturity profile and could strengthen its capital structure for continued operations in its global aviation services markets.

The most recent analyst rating on (VTOL) stock is a Hold with a $44.00 price target. To see the full list of analyst forecasts on Bristow Group stock, see the VTOL Stock Forecast page.

Bristow Group Reports Strong Q3 2025 Financial Results

Bristow Group reported strong financial results for the third quarter of 2025, with total revenues of $386.3 million and a net income of $51.5 million, marking a significant increase from the previous quarter. The company anticipates continued growth in 2026, driven by a tight supply of offshore helicopters and a positive outlook for offshore energy services, despite a mid-cycle activity plateau in the industry.

The most recent analyst rating on (VTOL) stock is a Buy with a $41.00 price target. To see the full list of analyst forecasts on Bristow Group stock, see the VTOL Stock Forecast page.