Hornbeck Offshore Services, Inc (HOS) AI Stock Analysis

Hornbeck Offshore Services, Inc. provides marine transportation services to exploration and production, oilfield service, offshore construction, and military customers. The company operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-based facility to deliver logistics support and specialty services to the offshore oil and gas industry. Its fleet supports deep-well, deep-water, and ultra-deep-water operations such as exploration, field development, production, and maintenance. In addition, Hornbeck provides vessel management services, including crewing and operational maintenance, and serves non-oilfield end-markets including military support, renewable energy, disaster relief, and aerospace support services.

Hornbeck generated revenue of $640.9M in FY2024, representing 11.8% growth after expanding 27.1% to $573.4M in FY2023, reflecting a two-year revenue CAGR of 19.2%. Operating margin decreased across those years, moving from 31.7% in FY2022 to 23.5% in FY2023 and 20.5% in FY2024, while FY2024 net income reached $92.8M with a 14.5% net margin. Trailing twelve months revenue totaled $729.4M with an operating margin of 18.5% and a profit margin of 17.7%. In the latest quarter ended September 30, 2025, growth slowed as quarterly revenue fell 11.3% year-over-year and quarterly earnings fell 84.7%.

As of September 30, 2025, Hornbeck held $97.8M in cash and short-term investments against total debt of $440.3M, resulting in net debt of $342.6M. Shareholders' equity was $571.0M alongside total assets of $1.16B, producing a current ratio of 2.82 and a debt-to-equity ratio of 0.77. Operating cash flow in FY2024 declined to $16.5M from $146.1M in FY2023, and free cash flow stood at -$103.6M. Capital allocation in FY2024 included $120.1M in capital expenditures and $78.4M directed toward share buybacks.

Hornbeck has a market capitalization of $2.24B and an enterprise value of $3.11B. Trading at a trailing P/E of 16.3x and an EV-to-EBITDA of 12.1x, the company trades below the median of its US-listed Industrials peers, which stand at 24.8x and 13.9x, respectively. Its price-to-sales ratio of 3.1x sits above the peer median of 1.5x. Over the past year, HOS returned 9.4%, trailing the S&P 500 (SPY) return of 16.8%. Over five years, the stock gained 57.8% versus 83.0% for SPY, and its last close of $6.85 sat 24.3% below its 200-day average.

Analysts have established a mean price target of $13.00 for Hornbeck, which is 89.8% above its last close of $6.85. For the current fiscal year ending December 31, 2026, consensus estimates anticipate revenue of $1.29B and EPS of $0.72. For the subsequent fiscal year, 2 analysts project revenue of $1.87B, representing 45.6% growth, alongside an EPS estimate of $0.54, reflecting a 25.0% decline. Over the last four quarters, Hornbeck has beaten EPS estimates in 1 quarter.

This page is an AI-written research summary of Hornbeck Offshore Services, Inc (HOS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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