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Bristow Group (VTOL) has released its FY 2025 numbers with Q4 revenue of US$377.3 million and basic EPS of US$0.63, alongside trailing twelve month EPS of US$4.47 and net income of US$129.1 million. These figures tie directly into the story on earnings growth and margin direction. The company has seen quarterly revenue hold around the US$350 million to US$386 million range over the past year, while basic EPS moved between US$0.95 and US$1.79 across FY 2025. This latest print comes against a backdrop of improving net profit margins and a clear focus on profitability quality rather than just top line scale.

With the headline figures on the table, the next step is to see how these results line up against the main narratives investors follow around Bristow Group's growth, margins, and long term earnings power.

See what the community is saying about Bristow Group

TTM earnings growth outpaces revenue

• Over the last 12 months, Bristow Group generated US$1.49b in revenue and US$129.1 million in net income, with trailing earnings up 36.2% year over year while revenue is forecast to grow 6.8% annually and earnings 11.3% annually.
• Consensus narrative highlights recurring offshore and government contract revenues as a key pillar, and the trailing numbers partly back that up but also show some tension:
  • On one hand, the move from a 6.7% to 8.7% net profit margin supports the idea of better earnings quality alongside those long term contracts.
  • On the other hand, the forecast that revenue and earnings grow more slowly than the broader US market suggests that, even with more stable contracts, growth expectations are relatively modest compared to higher growth names.

Q4 softness against strong TTM margins

• Q4 FY 2025 net income of US$18.4 million compares with trailing 12 month net income of US$129.1 million and an 8.7% net margin for the year, showing that the full year margin picture is stronger than the single quarter suggests.
• Bears point to rising costs and contract transition expenses as a risk, and the mix of quarterly and trailing figures gives both support and pushback to that view:
  • The step down from Q3 FY 2025 net income of US$51.5 million to US$18.4 million in Q4 backs the concern that expenses and ramp up costs can squeeze profit in individual periods.
  • At the same time, the 8.7% trailing margin and five year annualized earnings growth of 21.2% challenge the idea that higher costs are consistently blocking profitability, since the company stayed profitable on a full year basis.

Low P/E and DCF gap vs growth forecasts

• Bristow Group trades on a trailing P/E of 10.8x with a DCF fair value of US$153.59 versus a current share price of US$48.00, while earnings are forecast to grow 11.3% per year and revenue 6.8% per year.
• Skeptics argue that slower forecast growth can cap how much of this apparent discount closes, and the numbers give them some points but also raise questions:
  • Relative to the US Energy Services industry average P/E of 26.5x and peer average of 49.5x, the 10.8x multiple is much lower, which aligns with the view that the market is hesitant to pay up for a business with growth below broader US market forecasts.
  • However, when you set that low multiple and the 36.2% trailing earnings growth against the large gap to the US$153.59 DCF fair value, it challenges the bearish idea that slower forward growth alone fully explains the current pricing.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Bristow Group on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If this mix of optimism and caution has you on the fence, it is worth looking through the numbers yourself and forming your own view. To see what the market currently regards as the key positives, you can review 4 key rewards.

Explore Alternatives

The combination of softer Q4 earnings, relatively modest forecast growth and a low P/E multiple suggests the market is still cautious about Bristow Group's long term momentum.

If that caution is making you hesitate, put those concerns to work by scanning our 53 high quality undervalued stocks to spot other companies where pricing and fundamentals may look more compelling right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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