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Bristow Group
(NYSE:VTOL)
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Rating:68Neutral
Price Target:
$44.00
▼(-2.33% Downside)
Action:Reiterated
Date:08/06/26
VTOL scores above average mainly on improving profitability and a supportive earnings outlook with affirmed 2026 growth guidance and an accretive acquisition. The score is held back by weak and volatile free cash flow (negative in TTM) and a still-meaningful debt load, while technicals are positive but somewhat overextended and valuation appears reasonable rather than clearly cheap.
Positive Factors
2026 EBITDA growth guidance
Affirmed guidance provides evidence that management expects substantial earnings expansion over the next several quarters. The outlook is supported by segment-level targets and improving operations, giving Bristow a clearer basis for investing in fleet capacity, contracts, and strategic growth.
Negative Factors
Inconsistent free cash flow
Repeatedly negative free cash flow limits the cash available for debt reduction, fleet investment, acquisitions, and shareholder distributions. Although operating cash flow is positive, weak conversion from accounting earnings suggests reinvestment needs or working-capital swings may remain a durable constraint.
Read all positive and negative factors
Positive Factors
Negative Factors
2026 EBITDA growth guidance
Affirmed guidance provides evidence that management expects substantial earnings expansion over the next several quarters. The outlook is supported by segment-level targets and improving operations, giving Bristow a clearer basis for investing in fleet capacity, contracts, and strategic growth.
Read all positive factors
Bristow Group Key Performance Indicators (KPIs)
Bristow Group (VTOL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.21B
Dividend Yield0.92%
Average Volume (3M)272.93K
Price to Earnings (P/E)11.4
Beta (1Y)0.99
Revenue Growth8.19%
EPS Growth-13.77%
CountryUS
Employees3,660
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)3.58
Shares Outstanding29,642,000
10 Day Avg. Volume191,476
30 Day Avg. Volume272,931
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.01
Price to Sales (P/S)0.71
P/FCF Ratio18.97
Enterprise Value/Market Cap1.57
Enterprise Value/Revenue1.21
Enterprise Value/Gross Profit2.86
Enterprise Value/Ebitda7.38
Forecast
1Y Price Target
$56.00Price Target Upside24.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.56
Revenue Forecast (FY)$1.67B
Bristow Group Business Overview & Revenue Model
Company Description
Bristow Group Inc. provides vertical flight solutions to offshore energy companies and government agencies in the United Kingdom, Norway, the United States, Nigeria, and internationally. It operates through three segments: Offshore Energy Services...
How the Company Makes Money
Bristow primarily makes money by operating and managing aircraft to deliver contracted aviation services. Its core revenue stream is helicopter services for offshore energy operations, where it transports personnel and light cargo between onshore ...
Bristow Group Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial positives: affirmed 2026 adjusted EBITDA guidance with ~25% growth, sequential revenue and EBITDA improvement, immediate accretive M&A (Berry Aviation), tightened OES guidance, upgraded Government Services revenue and a materially higher adjusted operating income range versus 2025 midpoint, and improved quarterly operating cash flow and liquidity. Offsetting items were focused and mostly execution/timing related: supply chain and OEM delivery delays causing roughly $8M of 2026 operating income pressure in Government Services, a $1.5M fuel-related margin hit (now contractually mitigated), elevated transition and working capital costs, and early-stage disposal of the Norway business. Overall the positives—sizable guidance affirmation, accretive acquisition, better cash generation, and long-term market tailwinds—outweigh the limited but notable execution headwinds.Positive Updates
Affirmed Full-Year 2026 Adjusted EBITDA Guidance
Company affirmed adjusted EBITDA guidance of $295M to $325M for full-year 2026, representing approximately 25% year-over-year growth versus prior year expectations.
Negative Updates
Supply Chain Delays Adversely Impacting Government Services
Continued supply chain challenges (notably OEM delivery and modification delays for AW189/other models) resulted in delayed aircraft deliveries, elevated KPI penalties and extended transition costs, adversely impacting 2026 adjusted operating income by approximately $8M.
Read all updates
Q2-2026 Updates
Positive
Negative
Affirmed Full-Year 2026 Adjusted EBITDA Guidance
Company affirmed adjusted EBITDA guidance of $295M to $325M for full-year 2026, representing approximately 25% year-over-year growth versus prior year expectations.
Read all positive updates
Company Guidance
Management affirmed full‑year 2026 consolidated guidance of $1.6–$1.7 billion in revenues and $295–$325 million of adjusted EBITDA (≈25% year‑over‑year growth), with segment updates including OES adjusted operating income raised to $235–$245 million, Government Services revenues revised to $475–$495 million with adjusted operating income of $55–$65 million (roughly 60% higher vs. the 2025 midpoint), and Other Services revenues of $155–$175 million with adjusted operating income of $25–$30 million; they closed the Berry Aviation acquisition (July 13), which they expect to be immediately accretive to earnings and free cash flow and to bolster EBITDA margins, noted the planned Norway OES exit would be neutral to 2025 EBITDA on a pro‑forma basis, reported unrestricted cash of $312 million and total liquidity of ≈$372 million, Q2 operating cash flow of $41.4 million (versus $(8.3) million in Q1), paid $3.7 million of dividends and declared $0.125/share, disclosed total 2026 CapEx of ~$160 million (growth $130M + maintenance $30M), and cautioned about a ~ $8 million 2026 adverse impact from supply‑chain delays (plus a $1.5 million fuel timing effect now addressed contractually).Bristow Group Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.56B | 1.49B | 1.42B | 1.30B | 1.20B | 1.19B |
| Gross Profit | 661.74M | 317.96M | 398.28M | 330.81M | 278.88M | 191.81M |
| EBITDA | 256.66M | 272.82M | 230.07M | 156.16M | 126.85M | 124.34M |
| Net Income | 104.23M | 129.07M | 94.80M | -6.78M | 9.21M | -15.79M |
Balance Sheet | ||||||
| Total Assets | 2.38B | 2.31B | 2.13B | 1.94B | 1.81B | 1.82B |
| Cash, Cash Equivalents and Short-Term Investments | 314.75M | 293.63M | 247.50M | 180.26M | 163.68M | 263.77M |
| Total Debt | 969.75M | 913.04M | 957.09M | 838.32M | 753.64M | 720.98M |
| Total Liabilities | 1.29B | 1.25B | 1.23B | 1.11B | 1.03B | 988.91M |
| Stockholders Equity | 1.09B | 1.06B | 891.71M | 823.69M | 787.31M | 835.82M |
Cash Flow | ||||||
| Free Cash Flow | -34.46M | 56.15M | -77.97M | -49.47M | -63.70M | 92.79M |
| Operating Cash Flow | 132.56M | 198.17M | 177.42M | 32.04M | -14.13M | 123.85M |
| Investing Cash Flow | -106.39M | -87.33M | -245.95M | -47.32M | -44.14M | -17.37M |
| Financing Cash Flow | 18.52M | -65.81M | 141.10M | 22.04M | -19.91M | -63.48M |
Bristow Group Technical Analysis
Negative
45.05
Price Trends
43.67
Negative
43.29
Negative
43.73
Negative
Market Momentum
-0.91
Positive
39.32
Neutral
31.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VTOL, the sentiment is Negative. The current price of 45.05 is above the 20-day moving average (MA) of 41.38, above the 50-day MA of 43.67, and above the 200-day MA of 43.73, indicating a bearish trend. The MACD of -0.91 indicates Positive momentum. The RSI at 39.32 is Neutral, neither overbought nor oversold. The STOCH value of 31.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VTOL.
Bristow Group Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $4.46B | 12.88 | 32.92% | 2.69% | 3.84% | 75.32% | |
69 Neutral | $4.25B | 17.14 | 18.74% | 0.11% | -1.02% | 28.16% | |
68 Neutral | $1.21B | 11.37 | 9.82% | 0.92% | 8.19% | -13.77% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $1.82B | 88.99 | 1.37% | 4.67% | -7.11% | -70.32% | |
62 Neutral | $1.66B | -2.35 | -8.68% | ― | 1.97% | -51.44% | |
58 Neutral | $6.76B | 72.96 | 1.53% | 2.29% | -1.63% | -78.44% |
* Energy Sector Average
VTOL
Bristow Group
40.69
3.38
9.06%
HOS
Hornbeck Offshore Services
7.47
1.15
18.20%
NOV
NOV
18.97
6.54
52.65%
OII
Oceaneering International
44.81
22.20
98.19%
TDW
Tidewater
85.42
35.79
72.11%
XPRO
Expro Group Holdings
16.17
3.74
30.09%
Bristow Group Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Bristow Group Boosts Q2 Results, Acquires Berry Aviation
Positive
Aug 4, 2026
For the quarter ended June 30, 2026, Bristow Group reported a solid sequential improvement in financial performance, with revenues rising to $411.8 million from $388.7 million in the first quarter and net income increasing to $21.2 million, or $0....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.