COMP <GO>

TDW vs DHT // 10Y YIELD & FRED MACRO BETA

Tidewater Inc. (NYSE) VS. DHT Holdings Inc. (NYSE) • 15-METRIC TALLY: TDW 7 — DHT 3

■ METRIC PARITY

LAST: $79.04 (-9.49%) • MKT CAP: $4.35B

macro-sensitivity

—

LAST: $23.86 (-4.64%) • MKT CAP: $4.03B

macro-sensitivity

0.88

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (TDW VS. DHT) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	TDW	DHT	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	15.60%	9.90%	+5.70	TDW	/roic <GO>
EV/EBITDA & P/E Valuation	14.2x	21.0x	-6.80	TDW	/valuation <GO>
Free Cash Flow Yield	8.33%	2.21%	+6.12	TDW	/fcf-yield <GO>
Operating Margin	20.90%	13.90%	+7.00	TDW	/operating-margins <GO>
Net Profit Margin	24.70%	10.90%	+13.80	TDW	/net-margins <GO>
Revenue Growth (YoY)	0.50%	9.90%	-9.40	DHT	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	3.74	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	8/9	-1.00	DHT	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	56.3	59.7	-3.40	DHT	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	0.88	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	11.8x	30.5x	-18.70	TDW	/forward-pe <GO>
Enterprise Scale & Market Cap	$4.35B	$4.03B	$315.9M	TDW	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	TDW REV	DHT REV	TDW GROSS %	DHT GROSS %	TDW FCF	DHT FCF
FY 2025	$1.35B	—	—	—	$353.3M	—
FY 2024	$1.35B	—	—	—	$254.9M	—
FY 2023	$1.01B	—	—	—	$104.2M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

TDW // BETA —

DHT // BETA 0.88