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W&T Offshore Inc (WTI) stock

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NYSE: WTI NYSE Oil & Gas Exploration & Production Next results ~January 25, 2027

D Fundamentals grade

W&T Offshore Inc is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$4.8

Cash-flow model

Base case. Range ~$3.3–$6.7 across our lower- and higher-growth cases (3.2%–13.2% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

W&T Offshore Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 8 sales by directors and officers, last 12 monthsInsider trades
  • Funds109 adding, 71 cuttingOf 38 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter W&T Offshore files

10-Q filed October 29: W&T Offshore

Model value −50.3%

W&T Offshore reported revenue of $601m for the twelve months to September 2026, up 20.3% on a year earlier and an acceleration from the 13.7% growth seen a quarter earlier. Free-cash-flow margin climbed to 16.4%, from 9.3% a year earlier, while operating margin widened to 5.0% from -10.1%. Diluted shares outstanding rose 2.6% over the same period, diluting existing holders. Despite the improved profitability, our model value has fallen sharply, from $11.46 to $5.69 a share. The stock currently trades at $4.07, below both the prior and the revised model value.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where W&T Offshore stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $562m, up 13.7% on a year earlier, faster than the 1.4% growth a quarter earlier. Free-cash-flow margin rose to 15.7% from 7.0% a year earlier. Operating margin widened to 1.0% from -11.5%. The diluted share count is up 2.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $11.46 a share, against a share price of $4.09.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 25, 2027 (estimated)

W&T Offshore Inc's trailing-twelve-month revenue grew 20.3% year on year, with a free-cash-flow margin of 16.4%. Where it lags: stock pay as % of revenue of 4.2% ranks 44 of 47 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$4.8 per share in the base case (~$3.3–$6.7 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 112.8% while net income grew 65.3%: a 47pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 20.3% over the last 12 months, against a median of 10.6% for oil & gas exploration & production companies we cover.
  • Growth speeding up. The growth rate is 6.5 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 15.1 points on a year ago.

Things to watch

  • Share dilution. Diluted shares rose 2.6% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 82% and a beta of -1.5 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.2% ranks 44 of 47 oil & gas exploration & production companies we cover (median 1.2%).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 35.4% ranks 37 of 43 oil & gas exploration & production companies we cover (median 17.6%).
  • Heavily shorted. 13.7% of the shares available to trade are sold short (3.8 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.01 against an average estimate of -$0.05: beat by 121.1%
Revenue
$167m, up 31.0% on a year earlier
Share reaction
-4.0% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 29, 2026; average EPS estimate -$0.03

W&T Offshore's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-11.4%
  • 1 week-15.3%
  • 1 month+0.8%
  • This year+122.1%
  • 1 year+73.3%
  • 5 years-8.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$601M
Operating margin
5.0%
Net margin
-8.4%
EPS (TTM, diluted)
$-0.33

Growth

Revenue growth
+20.3%
Change in growth rate
+6.5 pts
Share count change
+2.6%

Cash

Free cash flow (TTM)
$98.5M
FCF margin
16.4%
Stock pay % of revenue
4.2%

Earnings

Last results
October 29, 2026
Next results (est.)
January 25, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Leadership
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

W&T Offshore Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Our value per share comes from a discounted-cash-flow model of W&T Offshore Inc's free cash flow after stock-based pay ( $43.3M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value W&T Offshore Inc as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.57 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. ~$3.2 Primary model, counts double
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$4.8 ~$3.3–$6.7 Included
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.8 ~$3.2–$4.8 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare W&T Offshore Inc with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▲ +82%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $3$5$6$9$12$17
8.5% $2$3$5$6$9$12
10% $2$2$3$5$7$9

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$2.19$2.63$3.14$3.91$5.27$2.06$3.06$5.29$3.10$1.61$1.62$3.59
Market value$166m$251m$432m$543m$758m$295m$436m$768m$460m$236m$240m$545m
+ Net debt (− = net cash)$1.1bn$956m$893m$613m$698m$589m$498m$239m$227m$290m$218m$161m
Enterprise value$1.3bn$1.2bn$1.3bn$1.2bn$1.5bn$884m$933m$1.0bn$687m$527m$458m$706m
Multiples
Price / sales 0.3x0.6x0.9x0.9x1.4x0.9x0.8x0.8x0.9x0.5x0.5x0.9x
Price / earnings ——5.4x2.2x10.2x7.8x—3.3x29.5x———
Price / free cash flow ———1.8x17.1x2.8x3.3x2.7x5.2x—3.1x5.5x
EV / EBITDA ——5.3x3.1x5.9x9.0x3.3x1.8x4.8x5.2x7.2x5.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard W&T Offshore's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Net income has been a median 5.6% of total assets over 10 years.

  • Durability 3 / 20

    Operating margin has been a median 12.2%; its worst year was -10.1%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 6 of 6 years, at a median 11.5% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 5.6% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.04 +90% $596m +19%
Next −$0.07 −82% $563m −6%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is 0.0% on 90 days ago. In the last 30 days, 0 analysts raised W&T Offshore Inc's forecast and 1 cut it.

Consensus EPS forecast W&T Offshore Inc, last 90 days
−$0.20 −$0.15 −$0.10 −$0.05 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.04 Current fiscal year, 60 days ago: −$0.03 Current fiscal year, 30 days ago: −$0.04 Current fiscal year, 7 days ago: −$0.04 Current fiscal year, Now: −$0.04 −$0.04 Next fiscal year, 90 days ago: −$0.15 Next fiscal year, 60 days ago: −$0.10 Next fiscal year, 30 days ago: −$0.11 Next fiscal year, 7 days ago: −$0.11 Next fiscal year, Now: −$0.07 −$0.07

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.04−$0.15
60 days ago −$0.03−$0.10
30 days ago −$0.04−$0.11
7 days ago −$0.04−$0.11
Now −$0.04−$0.07

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.05 $0.01 +121.1%
Jun 2026 $0.03 $0.02 −42.8%
Mar 2026 $0.02 $0.00 −100.0%
Dec 2025 −$0.12 −$0.14 −20.7%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows W&T Offshore Inc's revenue by -0.1% next year and +4.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-5.0%, weight 62%) and the company's own record (+8.2%, weight 38%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026123
  2. Sep 2026123
  3. Aug 2026123
  4. Jul 2026123

Counts of recommendations published by analysts covering W&T Offshore Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
13.7%
of tradable shares
Days to cover
3.75
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
56%
of shares
Held by insiders
36.1%
of shares
Employees
370
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +73.3%

$2.07 on October 31, 2025 to $3.59

ThenNowEffect
Revenue (last 12 months) $494m $562m +13.7%
P/S multiple 0.6x 1.0x +55.8%
Share count 148m 151m −2.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −10.3%

$4.00 on November 3, 2023 to $3.59

ThenNowEffect
Revenue (last 12 months) $714m $562m −21.3%
P/S multiple 0.8x 1.0x +17.1%
Share count 147m 151m −2.6%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
WTI+49%+73%−41%−48%+1%+122%
Industry peers (median)+88%+54%−8%+2%−15%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WTI58%58%25%8%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WTI−46%−58%−55%−58%−41%−37%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 89% from October 1, 2018 to March 16, 2020. Getting back needed a 803% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.49 – $4.89
From 52-week high
−26.5%
vs 50-day average
−5.9%
vs 200-day average
+5.1%
Volatility (1 year)
83%
Beta vs S&P 500
-1.50

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±5.9%
After a week
5 up, 6 down
typical move ±10.9%
After a month
4 up, 7 down
typical move ±12.4%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −4.0% −2.1% — —
August 5, 2026 −2.3% −0.4% +7.6% +14.0%
May 7, 2026 −2.9% +0.5% +16.5% +3.6%
March 16, 2026 −7.4% +1.3% −14.8% −14.3%
March 9, 2026 −14.3% +0.7% −1.3% −6.7%
November 5, 2025 −2.5% −0.7% −3.6% −5.6%
August 4, 2025 +1.8% +1.0% +1.2% +4.7%
May 6, 2025 +8.7% −0.4% +39.1% +40.1%
March 3, 2025 −9.6% −2.9% −13.2% −12.0%
November 7, 2024 −11.2% +1.2% −15.7% −25.7%
August 7, 2024 +6.2% +1.6% +5.2% −3.8%
May 10, 2024 +0.4% +0.1% −1.3% −5.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

W&T Offshore Inc in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) W&T Offshore Inc
$450M $500M $550M $600M $650M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $532.7M Revenue (TTM), FY24 Q1: $541.7M Revenue (TTM), FY24 Q2: $558.3M Revenue (TTM), FY24 Q3: $537.3M Revenue (TTM), FY24 Q4: $525.3M Revenue (TTM), FY25 Q1: $514.3M Revenue (TTM), FY25 Q2: $494M Revenue (TTM), FY25 Q3: $500.1M Revenue (TTM), FY25 Q4: $501.5M Revenue (TTM), FY26 Q1: $521.6M Revenue (TTM), FY26 Q2: $561.9M Revenue (TTM), FY26 Q3: $601.4M $601.4M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $532.7M
FY24 Q1 $541.7M
FY24 Q2 $558.3M
FY24 Q3 $537.3M
FY24 Q4 $525.3M
FY25 Q1 $514.3M
FY25 Q2 $494M
FY25 Q3 $500.1M
FY25 Q4 $501.5M
FY26 Q1 $521.6M
FY26 Q2 $561.9M
FY26 Q3 $601.4M
Revenue growth, TTM YoY W&T Offshore Inc
-60% -40% -20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -42.2% Revenue growth, TTM YoY, FY24 Q1: -37.1% Revenue growth, TTM YoY, FY24 Q2: -21.8% Revenue growth, TTM YoY, FY24 Q3: -8.9% Revenue growth, TTM YoY, FY24 Q4: -1.4% Revenue growth, TTM YoY, FY25 Q1: -5.1% Revenue growth, TTM YoY, FY25 Q2: -11.5% Revenue growth, TTM YoY, FY25 Q3: -6.9% Revenue growth, TTM YoY, FY25 Q4: -4.5% Revenue growth, TTM YoY, FY26 Q1: 1.4% Revenue growth, TTM YoY, FY26 Q2: 13.7% Revenue growth, TTM YoY, FY26 Q3: 20.3% 20.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -42.2%
FY24 Q1 -37.1%
FY24 Q2 -21.8%
FY24 Q3 -8.9%
FY24 Q4 -1.4%
FY25 Q1 -5.1%
FY25 Q2 -11.5%
FY25 Q3 -6.9%
FY25 Q4 -4.5%
FY26 Q1 1.4%
FY26 Q2 13.7%
FY26 Q3 20.3%
Operating margin (TTM) W&T Offshore Inc
-15% -10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 5.5% Operating margin (TTM), FY24 Q1: 3.5% Operating margin (TTM), FY24 Q2: 2.3% Operating margin (TTM), FY24 Q3: -4.4% Operating margin (TTM), FY24 Q4: -8.0% Operating margin (TTM), FY25 Q1: -9.8% Operating margin (TTM), FY25 Q2: -11.5% Operating margin (TTM), FY25 Q3: -10.1% Operating margin (TTM), FY25 Q4: -10.5% Operating margin (TTM), FY26 Q1: -5.7% Operating margin (TTM), FY26 Q2: 1.0% Operating margin (TTM), FY26 Q3: 5.0% 5.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 5.5%
FY24 Q1 3.5%
FY24 Q2 2.3%
FY24 Q3 -4.4%
FY24 Q4 -8.0%
FY25 Q1 -9.8%
FY25 Q2 -11.5%
FY25 Q3 -10.1%
FY25 Q4 -10.5%
FY26 Q1 -5.7%
FY26 Q2 1.0%
FY26 Q3 5.0%
FCF margin (TTM) W&T Offshore Inc
-20% 0% 20% 40% FY22 Q3 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY22 Q3: 33.1% FCF margin (TTM), FY22 Q4: 31.3% FCF margin (TTM), FY23 Q1: 36.5% FCF margin (TTM), FY24 Q3: 3.8% FCF margin (TTM), FY24 Q4: -4.0% FCF margin (TTM), FY25 Q1: 8.6% FCF margin (TTM), FY25 Q2: 7.0% FCF margin (TTM), FY25 Q3: 9.3% FCF margin (TTM), FY25 Q4: 15.3% FCF margin (TTM), FY26 Q1: 15.9% FCF margin (TTM), FY26 Q2: 15.7% FCF margin (TTM), FY26 Q3: 16.4% 16.4%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY22 Q3 33.1%
FY22 Q4 31.3%
FY23 Q1 36.5%
FY24 Q3 3.8%
FY24 Q4 -4.0%
FY25 Q1 8.6%
FY25 Q2 7.0%
FY25 Q3 9.3%
FY25 Q4 15.3%
FY26 Q1 15.9%
FY26 Q2 15.7%
FY26 Q3 16.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 611 706 971 874 984 949 507 400 487 581 535 347 558 921 533 525 501 601
EBITDA 88 435 628 505 577 553 −772 −137 248 378 248 99 280 561 144 101 64 140
Operating income −220 167 329 169 147 62 −1,146 −331 110 247 119 1 190 454 29 −42 −53 30
Net income −188 118 173 72 51 −12 −1,045 −249 80 249 74 38 −41 231 16 −87 −150 −51
Diluted EPS −$2.51 $1.58 $2.29 $0.95 $0.68 −$0.16 −$13.76 −$2.60 $0.56 $1.72 $0.52 $0.26 −$0.29 $1.59 $0.11 −$0.59 −$1.01 −$0.33
Growth (year on year)
Revenue — +15.5% +37.6% −9.9% +12.5% −3.6% −46.5% −21.1% +21.8% +19.2% −7.9% −35.2% +61.0% +65.1% −42.2% −1.4% −4.5% +20.3%
EBITDA — +393.3% +44.4% −19.6% +14.2% −4.3% −239.8% — — +52.3% −34.6% −60.2% +184.3% +100.3% −74.3% −30.1% −36.9% +85.1%
Operating income — — +97.5% −48.6% −13.3% −57.7% <−999% — — +124.7% −52.0% −99.3% — +139.4% −93.5% −243.1% — —
Net income — — +46.6% −58.3% −28.7% −122.7% — — — +212.3% −70.2% −49.0% −209.8% — −93.3% −658.7% — —
Diluted EPS — — +44.9% −58.5% −28.4% −123.5% — — — +207.1% −69.8% −50.0% −211.5% — −93.1% −636.4% — —
Margins
EBITDA margin 14.4% 61.7% 64.7% 57.8% 58.7% 58.2% −152.3% −34.1% 51.0% 65.2% 46.3% 28.4% 50.2% 60.9% 27.1% 19.2% 12.7% 23.2%
Operating margin −36.0% 23.6% 33.9% 19.4% 14.9% 6.5% −225.9% −82.6% 22.6% 42.5% 22.2% 0.2% 34.0% 49.3% 5.5% −8.0% −10.5% 5.0%
Net margin −30.8% 16.7% 17.8% 8.2% 5.2% −1.2% −206.0% −62.3% 16.4% 42.8% 13.9% 10.9% −7.4% 25.1% 2.9% −16.6% −29.9% −8.4%
Free-cash-flow margin 25.2% 32.3% 8.7% 20.5% 48.7% 42.4% — — — 52.5% 8.3% 30.5% 23.8% 31.3% 16.5% −4.0% 15.3% 16.4%
Cash flow
Cash from operations 156 465 521 385 561 475 133 14 159 322 232 109 134 340 115 60 77 98
Capital spending 2 237 437 206 82 72 — — — 17 188 3 1 51 27 81 1 0
Free cash flow 154 228 84 180 479 403 — — — 305 44 106 133 288 88 −21 77 98
Stock-based pay 6 6 10 12 12 15 10 11 7 4 4 4 3 8 10 10 12 25
Free cash flow after stock pay 147 222 75 167 467 388 — — — 301 41 102 130 280 78 −31 64 73
Balance sheet
Cash 38 29 5 12 16 24 85 70 99 33 32 44 246 461 173 109 141 191
Total debt 0 450 717 1,088 1,205 1,352 1,197 1,026 992 646 730 632 743 700 400 399 359 352
Net debt (negative = net cash) −38 421 712 1,075 1,190 1,328 1,111 956 893 613 698 589 498 239 227 290 218 161
Diluted shares — 74m 74m 74m 75m 76m 76m 96m 138m 139m 144m 143m 142m 145m 148m 147m 148m 152m
Returned to shareholders
Dividends 9 60 59 83 59 30 — — — — — — — — 1 6 6 6
Total returned 9 60 59 83 59 30 — — — — — — — — 1 6 6 6

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · September 30, 2026
What it owns · $991m
Short-term assets $314mLonger-term assets $677m
What it owes, and who funded it · $240m
Short-term liabilities $240mShareholders' equity $-190m
  • Short-term assets cover short-term liabilities $314m of assets due within a year against $240m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $191m of cash against $352m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $98m of operating cash flow against $352m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From W&T Offshore Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$6.2M
Returned to shareholders
6%
of free cash flow
Diluted share count
+2.6%
year over year
Total shareholder yield
1.1%
dividends 1.1% + buybacks 0.0% of market value
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated WTI BSM TXO GRNT GPRK REPX Median
Revenue, last 12 months $601m $524m $497m $496m $493m $484m $1.4bn
Revenue growth, last 12 months 20.3% 19.8% 49.6% 14.6% −25.5% 23.2% 10.6%
Revenue growth, 3-year average 0.6% −10.8% 9.2% 4.7% — 13.3% 1.4%
Revenue growth, latest quarter 31.0% −6.6% 67.9% 36.7% — 94.2% 31.5%
Operating margin 5.0% 56.4% −8.7% 7.5% 22.4% 38.4% 21.1%
Operating margin, 3-year average −3.2% 62.3% −27.0% 15.4% 24.5% 39.4% 16.5%
Net margin −8.4% 48.5% −7.5% −5.6% 10.1% 24.5% 10.1%
Cash from operations / revenue 16.4% 61.1% 28.8% 51.7% 3.0% 49.4% 42.4%
Free-cash-flow margin 16.4% 39.2% 7.4% 31.6% −17.0% 48.4% 19.3%
Free-cash-flow margin, 3-year average 9.8% 56.0% 12.4% 44.7% 2.3% 51.5% 19.1%
Stock pay / revenue 4.2% 2.0% 2.7% 1.1% 0.9% 2.3% 1.5%
Change in share count 2.6% — 28.8% 0.2% −2.0% −0.1% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth 20.3% 10.6% 18 of 57
Change in growth rate Growth +6.5pp +4.9pp 25 of 57
Operating margin Profitability 5.0% 19.9% 29 of 42
Net margin Profitability -8.4% 10.1% 44 of 57
Free-cash-flow margin Cash generation 16.4% 23.2% 32 of 51
Stock pay as % of revenue Cash generation 4.2% 1.2% 44 of 47
Long-term debt as % of assets Balance sheet 35.4% 17.6% 37 of 43
Change in share count Balance sheet 2.6% 0.4% 32 of 48
Days sales outstanding Balance sheet 48 days 41 days 27 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Oil and Condensate $328M 65.4% ▼ 17.1%
Natural Gas Production $144M 28.7% ▲ 58.4%
Natural Gas Liquids Reserves $20.4M 4.1% ▼ 27.2%
Other $9.3M 1.9% ▼ 13.8%

From W&T Offshore Inc's 10-K filed March 16, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$253M
Institutions reporting
176
Shares held vs prior quarter
▲ 18.0%
Positions opened / closed
36 / 22

Top buyers and sellers, Q2 2026: 109 institutions bought and 71 sold ; the biggest buyer was Acadian Asset Management LLC (+3.7M shares) and the biggest seller Two Sigma Investments, LP (−2.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $26.1M 8.3M 10.3% ▲ 8.0%
D. E. Shaw & Co., Inc. $19.6M 6.2M 7.8% ▲ 112.9%
Goldman Sachs Group Inc $15.8M 5.0M 6.2% ▲ 2.7%
Vanguard Capital Management LLC $13.7M 4.3M 5.4% ▲ 4.2%
Acadian Asset Management LLC $13.2M 4.2M 5.2% ▲ 730.2%
Vanguard Portfolio Management LLC $11.5M 3.6M 4.5% ▲ 31.4%
Ameriprise Financial Inc $11.3M 3.6M 4.5% ▲ 13.6%
Nuveen, LLC $10.7M 3.4M 4.2% ▲ 1230.2%
Two Sigma Investments, LP $9.3M 3.0M 3.7% ▼ 42.4%
Geode Capital Management, LLC $8.9M 2.8M 3.5% ▲ 16.2%
AQR Capital Management LLC $8.6M 2.7M 3.4% ▲ 268.0%
State Street Corp $7.9M 2.5M 3.1% ▼ 5.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not W&T Offshore Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.1M 8 trades by 8 insiders · 0% under pre-set plans
Net ▼ $1.1M net selling
Insider Date Trade Shares Price Value
Conwill Daniel O. Iv Director July 16, 2026 Sell 60,000 $3.41 $204,600
Chang Nancy T Director July 15, 2026 Sell 60,000 $3.31 $198,600
Boulet Virginia Director July 14, 2026 Sell 60,000 $3.54 $212,400
Gamblin Huan EVP & Chief Technical Officer July 14, 2026 Sell 30,000 $3.55 $106,500
Hartman Bart P. Iii VP & Chief Accounting Officer July 14, 2026 Sell 6,000 $3.54 $21,240
Hittner George EVP, GC & Corporate Secretary July 14, 2026 Sell 30,000 $3.53 $105,900
Parasnis Sameer EVP & Chief Financial Officer July 14, 2026 Sell 30,000 $3.56 $106,800
Williford William J EVP & Chief Operating Officer July 14, 2026 Sell 30,000 $3.56 $106,800

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • August 5, 2026
  • May 7, 2026
  • March 16, 2026
  • March 9, 2026
  • November 5, 2025

Recent SEC filings

Data status

When each part of this page on W&T Offshore Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

W&T Offshore Inc in brief

What does W&T Offshore Inc do?
W&T Offshore Inc is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is W&T Offshore Inc's stock ticker?
W&T Offshore Inc trades under the ticker WTI on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is W&T Offshore Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, W&T Offshore Inc reported revenue of $601M, 20.3% higher than a year earlier, according to its SEC filings.
What is W&T Offshore Inc's free cash flow?
W&T Offshore Inc's free-cash-flow margin is 16.4% of revenue over the trailing twelve months, ranking 32 of the 51 oil & gas exploration & production companies we cover.
What is W&T Offshore Inc's model value per share?
Our discounted-cash-flow model of W&T Offshore Inc's free cash flow after stock-based pay gives ~$4.8 per share in the base case, and ~$3.3–$6.7 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation. No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.
Who are W&T Offshore Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., D. E. Shaw & Co., Inc. and Goldman Sachs Group Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is W&T Offshore Inc's market cap?
On November 2, 2026, W&T Offshore Inc's market capitalisation was about $545M and net debt of $161M. Market figures come from third-party market data and may be delayed.
Does W&T Offshore Inc pay a dividend?
Yes: W&T Offshore Inc paid $6.2M in dividends over the trailing twelve months, a dividend yield of 1.13%.
Who are W&T Offshore Inc's competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to W&T Offshore Inc are Black Stone Minerals, L.p., TXO Partners, L.p., Granite Ridge Resources, Inc., Geopark Ltd and Riley Exploration Permian, Inc. The side-by-side comparison below sets their revenue, margins and growth against W&T Offshore Inc's.
Are insiders buying or selling W&T Offshore Inc stock?
Over the last 12 months, W&T Offshore Inc's directors and officers reported 0 open-market purchases and 8 sales on Form 4. The insider trading page charts every trade.
When is W&T Offshore Inc's next earnings date?
Around January 25, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — W&T Offshore Inc announces its own schedule.