# Bristow Group (VTOL.US)

Canonical: https://gigainvestors.com/s/VTOL

Analysis as of: 2026-10-16T07:32:58.896Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $37.88 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Arnold Van Den Berg](https://gigainvestors.com/VAN): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 23% since Apr 2026 · "Bristow raises 2026 adjusted EBITDA guidance midpoint by 27% amid strong offshore energy outlook" (seekingalpha.com, Aug 2025)

Story as of 2026-10-16T09:59:49.923Z; price observation 2026-10-15.

- 2025-08-07: Bristow raises 2026 adjusted EBITDA guidance midpoint by 27% amid strong offshore energy outlook ([seekingalpha.com](https://seekingalpha.com/news/4480947-bristow-raises-2026-adjusted-ebitda-guidance-midpoint-by-27-percent-amid-strong-offshore?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in oil & gas equipment & services; annual sales are USD 1.5 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1525221/000152522126000013/vtol-20251231.htm (filed 2026-02-26); FY2025: revenue 1490512000; grossProfit 317964000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); VTOL.US: 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, Government Services, and Other Services. The company offers various aviation services comprising personnel transportation, search and rescue (SAR), medevac, fixed wing transportation, unmanned systems, and ad-hoc helicopter services. It also operates specialized helicopters, as well as provides trained personnel. In addition, the company is involved in dry leasing of aircraft to third-party operators; and sales of parts. Further, it provides equipment or additional services, such as logistical and maintenance support, training services, and flight and maintenance crews; and regular passenger transport and charter services. Bristow Group Inc. was founded in 1948 and is based in Houston, Texas.

### Why customers stay

Margins ranged from 21.3% to 28.1% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2023: grossProfit / revenue = 25.5%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2024: grossProfit / revenue = 28.1%.

- Source: https://www.sec.gov/Archives/edgar/data/1525221/000152522126000013/vtol-20251231.htm (filed 2026-02-26); FY2025: grossProfit / revenue = 21.3%.

### Where the cash goes

Spends 46.8% of cash earnings on expansion; paid dividends in 1 of 6 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2021: growth capex 0; upkeep 14844000; owner earnings 19526000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2022: growth capex 0; upkeep 31068000; owner earnings 40377000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2022: growth capex 0; upkeep 49574000; owner earnings 39396800. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2024: growth capex 115845343.11754036; upkeep 139547656.88245964; cash acquisitions 0; owner earnings 38437343.11754036. Growth capex plus acquisitions / owner earnings = 3.013874886286714.

- Source: https://www.sec.gov/Archives/edgar/data/1525221/000152522126000013/vtol-20251231.htm (filed 2026-02-26); FY2025: growth capex 60355000; upkeep 81666000; owner earnings 129074000. Growth capex / owner earnings = 0.46759998140601516.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); Dividend observations: [[2021,3549000],[2022,0],[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1525221/000152522126000013/vtol-20251231.htm (filed 2026-02-26); FY2025: cash repurchases 15213000 USD.

### Are managers owners

Insiders own 3.2% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); VTOL.US SharesStats.PercentInsiders = 3.1809999999999996 percentage points; cache date 2026-10-15.

### What the price says

The price is 0.8 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); Closing price 37.88 USD; reporting-to-trading FX 1; FY2025 annual sales per share 49.87658947932004; price multiple 0.7594745429758365. FY2025 cash earnings/share 4.319167447463526. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2016-10: $7.55 per share

- 2016-11: $11.71 per share

- 2016-12: $16.97 per share

- 2017-01: $15.66 per share

- 2017-02: $13.78 per share

- 2017-03: $13.26 per share

- 2017-04: $12.71 per share

- 2017-05: $8.41 per share

- 2017-06: $9.46 per share

- 2017-07: $8.76 per share

- 2017-08: $8.81 per share

- 2017-09: $11.19 per share

- 2017-10: $10.76 per share

- 2017-11: $11.04 per share

- 2017-12: $10.75 per share

- 2018-01: $10.13 per share

- 2018-02: $9.45 per share

- 2018-03: $9.35 per share

- 2018-04: $10.55 per share

- 2018-05: $12.93 per share

- 2018-06: $12.95 per share

- 2018-07: $14.13 per share

- 2018-08: $11.94 per share

- 2018-09: $12.35 per share

- 2018-10: $11.32 per share

- 2018-11: $10.06 per share

- 2018-12: $8.74 per share

- 2019-01: $9.42 per share

- 2019-02: $11.52 per share

- 2019-03: $11.54 per share

- 2019-04: $9.64 per share

- 2019-05: $7.35 per share

- 2019-06: $8.34 per share

- 2019-07: $10.32 per share

- 2019-08: $9.48 per share

- 2019-09: $10.56 per share

- 2019-10: $9.67 per share

- 2019-11: $9.57 per share

- 2019-12: $10.17 per share

- 2020-01: $9.94 per share

- 2020-02: $9.80 per share

- 2020-03: $5.33 per share

- 2020-04: $5.12 per share

- 2020-05: $5.01 per share

- 2020-06: $13.93 per share

- 2020-07: $16.01 per share

- 2020-08: $18.91 per share

- 2020-09: $21.25 per share

- 2020-10: $20.78 per share

- 2020-11: $22.25 per share

- 2020-12: $26.32 per share

- 2021-01: $24.21 per share

- 2021-02: $26.62 per share

- 2021-03: $25.88 per share

- 2021-04: $26.46 per share

- 2021-05: $27.28 per share

- 2021-06: $25.61 per share

- 2021-07: $25.98 per share

- 2021-08: $31.56 per share

- 2021-09: $31.83 per share

- 2021-10: $34.60 per share

- 2021-11: $29.70 per share

- 2021-12: $31.67 per share

- 2022-01: $32.85 per share

- 2022-02: $33.14 per share

- 2022-03: $37.08 per share

- 2022-04: $29.82 per share

- 2022-05: $31.79 per share

- 2022-06: $23.40 per share

- 2022-07: $25.80 per share

- 2022-08: $29.01 per share

- 2022-09: $23.49 per share

- 2022-10: $29.94 per share

- 2022-11: $26.00 per share

- 2022-12: $27.13 per share

- 2023-01: $30.54 per share

- 2023-02: $27.24 per share

- 2023-03: $22.40 per share

- 2023-04: $22.37 per share

- 2023-05: $24.45 per share

- 2023-06: $28.73 per share

- 2023-07: $30.77 per share

- 2023-08: $27.70 per share

- 2023-09: $28.17 per share

- 2023-10: $26.14 per share

- 2023-11: $25.75 per share

- 2023-12: $28.27 per share

- 2024-01: $26.38 per share

- 2024-02: $26.95 per share

- 2024-03: $27.20 per share

- 2024-04: $26.31 per share

- 2024-05: $35.91 per share

- 2024-06: $33.53 per share

- 2024-07: $37.95 per share

- 2024-08: $39.81 per share

- 2024-09: $34.69 per share

- 2024-10: $33.17 per share

- 2024-11: $38.22 per share

- 2024-12: $34.30 per share

- 2025-01: $33.37 per share

- 2025-02: $37.04 per share

- 2025-03: $31.58 per share

- 2025-04: $29.04 per share

- 2025-05: $29.26 per share

- 2025-06: $32.97 per share

- 2025-07: $34.57 per share

- 2025-08: $38.51 per share

- 2025-09: $36.08 per share

- 2025-10: $40.70 per share

- 2025-11: $37.51 per share

- 2025-12: $36.62 per share

- 2026-01: $43.96 per share

- 2026-02: $47.70 per share

- 2026-03: $46.89 per share

- 2026-04: $49.13 per share

- 2026-05: $41.64 per share

- 2026-06: $41.32 per share

- 2026-07: $45.32 per share

- 2026-08: $45.39 per share

- 2026-09: $40.72 per share

- 2026-10: $37.88 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1525221/000152522126000013/vtol-20251231.htm); period 2025-12-31, filed 2026-02-26.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.