Helix Energy Solutions Group, Inc. (HLX) Stock Analysis
Energy · Oil & Gas Equipment & Services · NYSE
Helix Energy Solutions Group, Inc. (HLX) posted $1.29B in revenue for fiscal 2025 (down 4.9% year over year), at a 2.4% net margin, and has compounded revenue about 12.0%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Helix Energy Solutions Group, Inc.
Helix Energy Solutions Group, Inc. has grown revenue from $487.58M to $1.29B over the last 10 fiscal years, compounding about 12% a year. The most recent year was down 4.9%, so growth has cooled from its longer-run pace.
Net margin sits at 2.4%, down 1.7 points year over year on a 12.3% gross margin. It carries about $308.00M of total debt.
At today's valuation the market is pricing in roughly 0.5% annual free-cash-flow growth — versus the 8.9% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Helix Energy Solutions Group, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Helix Energy Solutions Group, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $487.58M | $581.38M | $739.82M | $751.91M | $733.55M | $674.73M | $873.10M | $1.29B | $1.36B | $1.29B |
| Gross profit | $46.52M | $62.17M | $121.68M | $137.84M | $79.91M | $15.39M | $50.62M | $200.36M | $219.56M | $159.14M |
| Net income | $-81.44M | $30.05M | $28.60M | $57.92M | $22.17M | $-61.54M | $-87.78M | $-10.84M | $55.64M | $30.83M |
| Net margin | -16.7% | 5.2% | 3.9% | 7.7% | 3.0% | -9.1% | -10.1% | -0.8% | 4.1% | 2.4% |
Source: Helix Energy Solutions Group, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
Helix Energy Solutions Group, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 17.5% while revenue rose -4.9% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
What growth is priced into HLX stock?
At today's market cap of $1.42B, Helix Energy Solutions Group, Inc. is priced for free-cash-flow growth of about 0.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $120.41M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 8.9%/yr over the last five fiscal years and revenue 12%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Helix Energy Solutions Group, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
Open the interactive view — freeOr start a 7-day free trial to track HLX in your portfolio →
Helix Energy Solutions Group, Inc. financial history by metric
Compare Helix Energy Solutions Group, Inc. with peers
About Helix Energy Solutions Group, Inc.
Helix Energy Solutions Group, Inc., together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the United States, North Sea, the Asia Pacific, West Africa, and internationally. The company operates through four segments: Well Intervention, Robotics, Shallow Water Abandonment, and Production Facilities. It engages in the installation of flowlines, control umbilicals, and manifold assemblies and risers; trenching and burial of pipelines; installation and tie-in of riser and manifold assembly; commissioning, testing, and inspection; and cable and umbilical lay. The company also provides well intervention, intervention engineering, and production enhancement services; coiled tubing operations; and inspection, repair, and maintenance IRM of production structures, trees, jumpers, risers, pipelines, and subsea equipment, as well as related support services. In addition, it offers reclamation and remediation services; well plug and abandonment P&A services; pipeline, cable and umbilical abandonment services; and site inspections. Further, the company offers oil and natural gas processing facilities and services; and fast response system, as well as site clearance and subsea support services. Additionally, it provides offshore oilfield decommissioning and reclamation, site clearance, project management, engineered solutions, intervention, heavy lift, and commercial diving services. It serves independent oil and gas producers and suppliers, pipeline transmission companies, renewable energy companies, and offshore engineering and construction firms. The company was formerly known as Cal Dive International, Inc. and changed its name to Helix Energy Solutions Group, Inc. in March 2006. The company was incorporated in 1979 and is headquartered in Houston, Texas.
Helix Energy Solutions Group, Inc. — frequently asked questions
What is Helix Energy Solutions Group, Inc.'s revenue?
Helix Energy Solutions Group, Inc. (HLX) reported revenue of $1.29B for fiscal year 2025, down 4.9% from the prior year, according to its SEC filings.
Is Helix Energy Solutions Group, Inc. profitable?
Yes. HLX earned net income of $30.83M in fiscal 2025, a net margin of 2.4%.
What is HLX's P/E ratio?
Helix Energy Solutions Group, Inc. trades at a price-to-earnings ratio of about 96.3 based on the latest data in our nightly-refreshed cache.
How fast is Helix Energy Solutions Group, Inc. growing?
HLX's revenue grew at roughly 12.0% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Helix Energy Solutions Group, Inc. have?
As of fiscal year 2025, HLX carried roughly $308.00M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Helix Energy Solutions Group, Inc.'s gross margin?
HLX's gross margin was 12.3% in fiscal 2025 — gross profit of $159.14M on revenue of $1.29B.
What is Helix Energy Solutions Group, Inc.'s market cap?
Helix Energy Solutions Group, Inc. (HLX) has a market capitalization of about $1.42B, based on the latest data in our nightly-refreshed cache.
When does Helix Energy Solutions Group, Inc.'s fiscal year end?
HLX's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into HLX stock?
At today's market cap of $1.42B, Helix Energy Solutions Group, Inc. is priced for free-cash-flow growth of about 0.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $120.41M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 8.9%/yr over the last five fiscal years and revenue 12%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Helix Energy Solutions Group, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.