W&T Offshore Inc. (WTI) intrinsic value & 10-year financials
W&T Offshore Inc. (WTI) has a Graham intrinsic value of $1.29 per share. At $3.80 on Oct 17, 2026, the stock trades 195% above that value. Over the last 10 fiscal years revenue grew 2.5% a year to $501.5M, with an average return on invested capital of 18.5%.
- Graham intrinsic value
- $1.29
- Share price (Oct 17, 2026)
- $3.80
- Price vs Graham value
- 195% above
- Market cap
- $563.2M
- Revenue (FY2025)
- $501.5M
- Revenue growth (10-yr CAGR)
- 2.5%
- ROIC (10-yr avg)
- 18.5%
- Free cash flow (FY2025)
- —
WTI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $501.5M | -$150.1M | -$1.01 | — | -10.5% | -40.1% |
| FY2024 | $525.3M | -$87.1M | -$0.59 | — | -8.0% | -15.1% |
| FY2023 | $532.7M | $15.6M | $0.11 | — | 5.5% | 5.8% |
| FY2022 | $921.0M | $231.1M | $1.59 | — | 49.3% | 147.6% |
| FY2021 | $558.0M | -$41.5M | -$0.29 | — | 34.0% | 50.1% |
| FY2020 | $346.6M | $37.8M | $0.26 | — | 7.1% | 6.0% |
| FY2019 | $534.9M | $74.1M | $0.52 | — | 11.0% | 8.2% |
| FY2018 | $580.7M | $248.8M | — | $305.0M | 42.5% | 82.9% |
| FY2017 | $487.1M | $79.7M | — | — | 22.6% | 36.0% |
| FY2016 | $400.0M | -$249.0M | — | — | -82.6% | -96.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
W&T OFFSHORE INC has demonstrated mature, steady growth, with revenue compounding at 2.5% annually over the past decade.
W&T OFFSHORE INC has earned high returns on invested capital, averaging 18.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
W&T OFFSHORE INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, W&T OFFSHORE INC is modeled at 2.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1.29 per share.