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Tidewater Midstream and Infrastructure Ltd (TWM) Fair Value & Analysis

Energy · CA · Market cap C$414M

TM Tidewater Midstream and Infrastructure Ltd TWM · TO
PriceC$22.32
Fair ValueC$11.14
Upside-50.1%
Quality34/100
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Expensive Growth
Loss-making · -7.7% net margin
High debt · negative free cash flow
Trails peers (3/11)
Narrow moat 10/100
Evidence: Low Range C$8.32 – C$16.62 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from C$5.57 to C$11.14 (+100.0%) since Jul 14, 2026. Share price +17.6% over the past month.

Below-average quality, and screening another 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (C$16.62). The favourable scenario is already priced in.
  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (C$8.32 to C$16.62) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

C$636.53 C$4.39 Fair Value C$11.14 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range C$4.39 – C$636.53 · fair‑value band C$8.32 – C$16.62 · the C$22.32 price screens above the C$11.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

Tidewater Midstream and Infrastructure Ltd (TWM) currently trades at C$22.32, while our model-based Fair Value estimate is C$11.14, implying the stock looks roughly 50.1% overvalued today. The Quality Score stands at 34/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Tidewater Midstream and Infrastructure Ltd generated revenue of C$1.4B at a net margin of -7.7%. Revenue grew 24.4% year over year. It earns a return on equity of -41.9%. Net debt stands at C$574M. Fundamentals as of Aug 13, 2026

Our scenario range runs from C$8.32 (bear case) to C$16.62 (bull case); at C$22.32, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 77% below its 52-week high, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -39% fair-value upside, at -50%, TWM screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
NCAV (Graham) C$4.16 C$5.57 C$8.31 50
All 1 models by family
Asset-Based
NCAV (Graham) C$4.16 C$5.57 C$8.31 50

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Key figures & financial health

Revenue (TTM) C$1.4B
Revenue growth (YoY) +24.4%
Net margin -7.7%
Return on equity -41.9%
Free cash flow −C$11.8M FY2025
Operating margin -1.5%
More key figures
EPS (TTM) C$-4.96
EPS growth (YoY) -74.6%
Net debt C$574M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 31 · Market factors (momentum, volatility) 42

Profitability 18
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 3
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Tidewater Midstream and Infrastructure Ltd. operates as a downstream, midstream, and infrastructure company in Western Canada and the United States. It primarily focuses on processing natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services, as well as refining of light oil.

Full company description

Tidewater Midstream and Infrastructure Ltd. operates as a downstream, midstream, and infrastructure company in Western Canada and the United States. It primarily focuses on processing natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services, as well as refining of light oil. The company also engages in the sale of refined products, including low sulfur diesel, renewable diesel, and gasoline; natural gas, NGL extraction, as well as renewable fuels and emissions credits; and purchases, transports, sells, stores and blends both NGLs and crude oil. The company was incorporated in 2015 and is headquartered in Calgary, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tidewater Midstream and Infrastructure Ltd reported revenue of C$1.3B in FY2025 versus C$1.7B in FY2021, a compound −6.1%/yr. Reported net income was −C$112M in FY2025.

Growth Quality 19/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
C$1.3B
Latest YoY
−19.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−22.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.1%
Avg. growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+50.9%
Revenue −6.1%/yr
FY21 C$1.7B
FY22 C$2.9B
FY23 C$2.2B
FY24 C$1.6B
FY25 C$1.3B
Net income
FY21 C$71.5M
FY22 C$18.9M
FY23 −C$386M
FY24 −C$26.6M
FY25 −C$112M

TWM screens 50% overvalued. Compare with Enbridge Inc →

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Cite: Fair Value Calculator (2026). "Tidewater Midstream and Infrastructure Ltd Fair Value". https://www.fairvalue-calculator.com/stock/TWM

Peer Group

Oil & Gas Midstream · 90 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 31 · Bottom 25%
Fair Value upside −50% · Below median
Return on assets -2% · Bottom 25%
Net margin (TTM) -8% · Bottom 25%
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 24% · Above median
Debt / equity 2.16× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper

P/B 1.64× · Cheaper than median
P/S (TTM) 0.21× · Cheaper than 75% of peers
EV/EBITDA 22.4× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 44
PAST 0 · sector 41
HEALTH 0 · sector 56
DIVIDEND 0 · sector 92

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $51.44 $35.83 -30%
The Williams Companies, Inc WMB $73.70 $11.73 -84%
Enterprise Products Partners L.P. EPD $37.92 $24.74 -35%
TC Energy Corporation TRP C$88.72 C$24.53 -72%
Kinder Morgan, Inc KMI $31.73 $10.92 -66%
Energy Transfer LP, ET $20.95 $11.45 -45%
MPLX LP owns and MPLX $59.94 $36.42 -39%
ONEOK, Inc OKE $92.47 $58.62 -37%
Targa Resources Corp TRGP $268.67 $79.61 -70%
Cheniere Energy, Inc LNG $268.11 $199.99 -25%

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Frequently asked questions

Is Tidewater Midstream and Infrastructure Ltd (TWM) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$11.14 versus a price of C$22.32, about −50% (overvalued).
What is the fair value of TWM?
Our model-based fair value for Tidewater Midstream and Infrastructure Ltd is C$11.14 (as of Aug 13, 2026), built from audited fundamentals. The current price is C$22.32.
What is the quality score of TWM?
Tidewater Midstream and Infrastructure Ltd has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Tidewater Midstream and Infrastructure Ltd (TWM)?
Tidewater Midstream and Infrastructure Ltd reported trailing-twelve-month revenue of about C$1.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of TWM?
The net profit margin of Tidewater Midstream and Infrastructure Ltd is about -7.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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