<div id="readability-page-1"><div><ul> <li>Wondering if Helix Energy Solutions Group at around US$9.93 is offering good value right now? This article breaks down what the current price might be implying about the business.</li> <li>The stock has returned 8.8% over the last 7 days, while the 30 day return sits at a 1.7% decline and the year to date gain is 55.2%, with a 61.5% return over 1 year, 39.3% over 3 years and 123.6% over 5 years.</li> <li>Recent coverage has focused on Helix Energy Solutions Group as part of broader conversations around the energy services space. This keeps attention on companies providing offshore support and subsea solutions and helps frame how investors may be reassessing risk and potential for the stock after its strong multi year performance.</li> <li>Helix Energy Solutions Group currently has a value score of 2 out of 6. The next sections will break down what different valuation methods say about that score and will also point to a broader way to think about valuation at the end of the article.</li> </ul> Helix Energy Solutions Group scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown. <h2>Approach 1: Helix Energy Solutions Group Discounted Cash Flow (DCF) Analysis</h2> A Discounted Cash Flow model looks at the cash Helix Energy Solutions Group is expected to generate in the future, then discounts those amounts back to what they might be worth in today's dollars. For Helix, the latest twelve month free cash flow stands at about $164 million. Using a 2 Stage Free Cash Flow to Equity model, analysts and extrapolated estimates project annual free cash flow figures out to 2035, with 2030 specifically sitting at $124 million. Beyond the first few analyst covered years, Simply Wall St extrapolates the remaining cash flows to complete the ten year path. When all those projected cash flows are discounted back and summed, the model points to an estimated intrinsic value of about $15.52 per share. Against a current share price around $9.93, this indicates the stock is trading at roughly a 36.0% discount to that DCF estimate. On this model alone, the shares appear to be undervalued. Result: UNDERVALUED Our Discounted Cash Flow (DCF) analysis suggests Helix Energy Solutions Group is undervalued by 36.0%. Track this in your watchlist or portfolio, or discover 53 more high quality undervalued stocks. <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e16ba6d7-e45d-4bfc-b95d-60e458b80f7a/chart/dcf/query-ZGF0ZT0yMDI2LTA0LTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e16ba6d7-e45d-4bfc-b95d-60e458b80f7a/chart/dcf/query-ZGF0ZT0yMDI2LTA0LTI4"/><figcaption>HLX Discounted Cash Flow as at Apr 2026</figcaption></figure> Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Helix Energy Solutions Group. <h2>Approach 2: Helix Energy Solutions Group Price vs Earnings</h2> For profitable companies, the P/E ratio is a useful way to see how much investors are paying for each dollar of earnings. A higher P/E often lines up with stronger growth expectations or lower perceived risk, while a lower P/E can reflect more modest growth assumptions or higher uncertainty. Helix Energy Solutions Group currently trades on a P/E of about 102.1x. That is well above the Energy Services industry average of 31.2x and above the peer group average of 27.6x. On those simple comparisons, the shares look expensive relative to both the sector and closer peers. Simply Wall St’s Fair Ratio framework goes a step further by estimating what a more tailored P/E might look like for Helix, based on factors such as earnings growth, profit margins, industry, market cap and company specific risks. For Helix, this Fair Ratio is 19.5x, which is meaningfully below the current 102.1x P/E. On this metric, the shares screen as priced well above the level suggested by those fundamentals. Result: OVERVALUED <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e16ba6d7-e45d-4bfc-b95d-60e458b80f7a/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA0LTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e16ba6d7-e45d-4bfc-b95d-60e458b80f7a/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA0LTI4"/><figcaption>NYSE:HLX P/E Ratio as at Apr 2026</figcaption></figure> P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 18 top founder-led companies. <h3>Upgrade Your Decision Making: Choose your Helix Energy Solutions Group Narrative</h3> Earlier it was mentioned that there is an even better way to understand valuation, so Narratives are introduced here as simple stories you create about Helix Energy Solutions Group that connect your view of its business, your assumptions for future revenue, earnings and margins, and the fair value you think is reasonable, all hosted in the Simply Wall St Community where millions of investors share their views. Each Narrative ties the company’s story to a set of explicit forecasts and a resulting fair value estimate. It then compares that fair value to the current share price to help you decide whether the stock looks attractively priced or stretched on your numbers. The tools automatically refresh your Narrative when new news, guidance or earnings are added to the platform. For example, one Helix Energy Solutions Group Narrative might align with the higher analyst fair value of US$14.00, built on assumptions about free cash flow, profit margins and a future P/E of 26.5x. Another might sit closer to the lower fair value of US$8.00 with a future P/E of 15.3x. By choosing the story that best matches your expectations, you can quickly see how different views on the same company lead to very different conclusions about what the shares are worth today. For Helix Energy Solutions Group however we will make it really easy for you with previews of two leading Helix Energy Solutions Group Narratives: 🐂 Helix Energy Solutions Group Bull Case Fair value: US$14.00 Current price vs this fair value: around 29.1% below that fair value on these assumptions Implied revenue growth used in this story: 3.33% a year <ul> <li>Views Helix as building on free cash flow and multi year contract visibility, with 2026 guidance and updated assumptions around revenue and margins feeding into a higher fair value of US$14.00.</li> <li>Highlights catalysts such as decommissioning demand, offshore renewables work, and proprietary robotics as key supports for earnings quality and longer term margin potential, while still flagging risks around regulation, client concentration, capital intensity, and labor costs.</li> <li>Aligns with the higher end of analyst targets, where this fair value assumes earnings and margins move ahead of current levels and that investors are willing to pay a P/E of 26.4x in the future for that earnings profile.</li> </ul> 🐻 Helix Energy Solutions Group Bear Case Fair value: US$9.75 Current price vs this fair value: around 1.9% above that fair value on these assumptions Implied revenue growth used in this story: 3.06% a year <ul> <li>Anchors on the analyst consensus target of US$9.75, where earnings and margins are expected to improve but are paired with a future P/E of 15.0x that sits closer to the current Energy Services industry level.</li> <li>Emphasises that while backlog, robotics, and renewables support the business case, project deferrals, spot market exposure, cost pressures, and capital needs can weigh on revenue visibility, margins, and free cash flow.</li> <li>Frames Helix as closer to fairly priced on these inputs, with only a small premium to the implied fair value at the recent US$9.93 share price, so outcomes are sensitive to how contract timing, utilization, and costs actually play out versus these assumptions.</li> </ul> Once you have seen both stories side by side, you can decide which set of assumptions feels closer to how you see Helix playing out over the next few years, or even build your own version inside the Simply Wall St Community to reflect your personal view on risk, earnings power, and a fair price for the stock. Do you think there's more to the story for Helix Energy Solutions Group? Head over to our Community to see what others are saying! <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e16ba6d7-e45d-4bfc-b95d-60e458b80f7a/chart/quote-price/query-ZGF0ZT0yMDI2LTA0LTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/e16ba6d7-e45d-4bfc-b95d-60e458b80f7a/chart/quote-price/query-ZGF0ZT0yMDI2LTA0LTI4"/><figcaption>NYSE:HLX 1-Year Stock Price Chart</figcaption></figure> 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.<div><h3>Valuation is complex, but we're here to simplify it.</h3>Discover if Helix Energy Solutions Group might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free Analysis</div></div></div>

Helix Energy Solutions Group (HLX) is currently priced at approximately US$9.93, showing an 8.8% return over the past week and a year-to-date gain of 55.2%. Despite a strong performance, its valuation score is low at 2 out of 6. A Discounted Cash Flow analysis suggests the stock is undervalued by 36%, estimating an intrinsic value of $15.52 per share. However, its P/E ratio of 102.1x is significantly higher than industry averages, indicating it may be overvalued based on earnings expectations. Investors are encouraged to reassess the stock's potential.

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Helix Energy Solutions

Is It Time To Reassess Helix Energy Solutions Group (HLX) After Its Strong Multi Year Run?