undamentalytics Newsletter
Sign in

Oceaneering International Inc (OII) stock

Add to watchlist

Add holding +

NYSE: OII NYSE Oil & Gas Equipment & Services Next results ~January 20, 2027

B Fundamentals grade

Oceaneering International Inc is a US-listed company in the oil & gas equipment & services industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$41

Cash-flow model

Base case. Range ~$32–$54 across our lower- and higher-growth cases (0.5%–10.5% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 6% below our base value.

Price used: $38.80, November 3, 2026

Oceaneering International Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 13 selling0 purchases and 26 sales by directors and officers, last 12 monthsInsider trades
  • Funds204 adding, 163 cuttingOf 51 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Oceaneering International files

Where Oceaneering International stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $2.91bn, up 3.0% on a year earlier, slower than the 3.8% growth a quarter earlier. Free-cash-flow margin rose to 9.9% from 3.9% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 5 of our 6 financial-health checks. Our cash-flow model value is $41.91 a share, against a share price of $40.55. At that price, our model says the market is pricing in about 4.8% a year of cash-flow growth for five years, slower than the 9.3% a year revenue growth it has delivered.

Source: 10-Q filed October 22, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 20, 2027 (estimated)

Oceaneering International Inc's trailing-twelve-month revenue grew 3.0% year on year, with a free-cash-flow margin of 9.9%. Where it stands out: net margin of 11.4% ranks 6 of 35 oil & gas equipment & services companies we cover.

Our discounted-cash-flow model values the business at ~$41 per share in the base case (~$32–$54 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 158.0% while net income grew 42.7%: a 115pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 5.6% over 90 days.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 50% and a beta of 1.0 against the S&P 500.
  • Insiders selling. 13 insiders sold $11M of stock over the past 365 days and none bought (13% under pre-set trading plans).
  • Below peers: change in growth rate. Change in growth rate of -0.8pp ranks 26 of 34 oil & gas equipment & services companies we cover (median +1.5pp).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed October 22, 2026
Earnings per share
$0.50 against an average estimate of $0.59: missed by 15.1%
Revenue
$785m, up 5.6% on a year earlier
Share reaction
-16.9% in the first session after the results on October 21, 2026, against -0.7% for the S&P 500
Next report
October 21, 2026; average EPS estimate $0.50

Oceaneering International's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.5%
  • 1 week-6.4%
  • 1 month-12.4%
  • This year+59.1%
  • 1 year+60.6%
  • 5 years+185.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.9B
Operating margin
10.4%
Net margin
11.4%
EPS (TTM, diluted)
$3.29

Growth

Revenue growth
+3.0%
Change in growth rate
−0.8 pts
Share count change
−0.9%

Cash

Free cash flow (TTM)
$288M
FCF margin
9.9%
Stock pay % of revenue
0.7%

Earnings

Last results
October 21, 2026
Next results (est.)
January 20, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Announcement
  4. Announcement
  5. Announcement
  6. Results
  7. Partnership
  8. Agreement
  9. Financing

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Oceaneering International Inc valuation models and calculator

What the price is pricing in

The share price implies about 4.1% a year of cash-flow growth for five years.That is slower than the 9.3% a year revenue growth Oceaneering International has delivered.

  • Priced in4.1%
  • Last 12 months3.0%
  • 3 years a year8.1%
  • 5 years a year9.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($38.73, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$41
Price used
$38.73close November 3, 2026
Implied change
▲ +7%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Oceaneering International Inc's free cash flow after stock-based pay with after-tax interest added back ($196M, FY2026 Q3 TTM), growing 4.7% and 5.3% in the next two years (forecasts, guidance and its record), then back to 5.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$32–~$54 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Oceaneering International Inc's free cash flow after stock-based pay ( $196M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Oceaneering International Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$41 ~$32–$54 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$31 ~$28–$40 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$26 ~$19–$35 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$27 ~$24–$32 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$33 ~$26–$41 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Oceaneering International Inc with Oil & Gas Equipment & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −9%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $30$40$54$71$94$123
8.5% $24$31$41$53$69$90
10% $20$26$33$42$55$71

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$35.64$27.72$21.14$12.10$14.91$7.95$11.31$17.49$21.28$26.08$24.03$38.24
Market value$3.5bn$2.7bn$2.1bn$1.2bn$1.5bn$789m$1.1bn$1.8bn$2.2bn$2.7bn$2.4bn$3.9bn
+ Net debt (− = net cash)$411m$343m$362m$432m$423m$353m$164m$132m$15m−$16m−$201m−$244m
Enterprise value$3.9bn$3.1bn$2.4bn$1.6bn$1.9bn$1.1bn$1.3bn$1.9bn$2.2bn$2.7bn$2.2bn$3.6bn
Multiples
Price / sales 1.1x1.2x1.1x0.6x0.7x0.4x0.6x0.9x0.9x1.0x0.9x1.3x
Price / earnings 15.2x111.0x12.5x————68.4x22.3x18.1x6.9x11.6x
Price / free cash flow 9.7x12.0x48.8x—149.1x10.4x6.4x44.5x19.9x27.8x11.7x13.4x
EV / EBITDA 6.4x9.6x10.9x11.0x—13.8x7.2x8.2x7.6x7.6x5.5x8.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

36 /100

Weak moat

How hard Oceaneering International's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Cash operating profit has been a median 4.9% of total assets over 10 years.

  • Pricing power 5 / 20

    Gross margin has been a median 13.7%, moving by 5.2 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 2.9%; its worst year was -35.7%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 10 years, at a median 4.3% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 0.9% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.97 — $2.9bn +5%
Next $2.25 — $3.1bn +4%

Next year's EPS estimate has moved +5.6% in 90 days, across 3 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.59 $0.50 −15.1%
Jun 2026 $0.45 $0.63 +40.5%
Mar 2026 $0.33 $0.30 −8.3%
Dec 2025 $0.31 $0.45 +47.1%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Oceaneering International Inc's revenue by +4.7% next year and +5.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.0%, weight 56%) and the company's own record (+5.5%, weight 44%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy00%
Hold375%
Sell125%

Monthly trend

  1. Oct 2026314
  2. Sep 2026314
  3. Aug 2026314
  4. Jul 2026314

Counts of recommendations published by analysts covering Oceaneering International Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.7%
of tradable shares
Days to cover
7.52
at average volume
Short interest, 1 month
+7%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
1.3%
of shares
Employees
11,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +64.2%

$23.29 on October 31, 2025 to $38.24

ThenNowEffect
Revenue (last 12 months) $2.8bn $2.9bn +3.8%
Net margin 7.3% 12.2% +66.8%
P/E multiple 11.8x 11.0x −6.3%
Share count 102m 101m +1.2%

Biggest factor: net margin.

Last 3 years +67.8%

$22.79 on November 3, 2023 to $38.24

ThenNowEffect
Revenue (last 12 months) $2.2bn $2.9bn +28.7%
Net margin 2.9% 12.2% +321.6%
P/E multiple 36.1x 11.0x −69.5%
Share count 102m 101m +1.3%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
OII+42%+55%+22%+23%−8%+59%
Industry peers (median)−1%+38%−7%−9%+3%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OII58%58%58%33%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OII−42%−58%−31%−25%−43%−32%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 95% from November 3, 2015 to March 18, 2020. Getting back needed a 1983% gain, reached on July 21, 2026, 2316 days after the low.

Price behaviour

52-week range
$22.61 – $54.11
From 52-week high
−29.3%
vs 50-day average
−16.6%
vs 200-day average
−5.3%
Volatility (1 year)
50%
Beta vs S&P 500
1.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
10 up, 2 down
typical move ±6.6%
After a week
6 up, 6 down
typical move ±7.2%
After a month
7 up, 4 down
typical move ±8.2%
Results releasedNext dayS&P 500 next day5 days21 days
October 21, 2026 −16.9% −0.7% −5.6% —
July 22, 2026 +7.5% −1.3% +4.3% +17.6%
April 22, 2026 +0.5% +0.6% −4.8% +1.7%
February 18, 2026 +11.8% +0.2% +17.2% +8.4%
October 22, 2025 +0.7% +0.1% −0.5% −1.1%
July 23, 2025 +13.3% +0.9% +5.9% +8.7%
April 23, 2025 +3.1% +3.7% +2.1% +9.3%
February 19, 2025 −6.0% −0.2% −13.8% −15.4%
October 23, 2024 +3.2% −0.7% +3.6% +20.7%
July 24, 2024 +10.5% −2.8% +14.5% −1.8%
April 24, 2024 +5.8% −0.4% −4.3% −1.9%
February 22, 2024 +0.2% +2.1% −9.9% +3.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Oceaneering International Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Oceaneering International Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Oceaneering International Inc
$2.4B $2.6B $2.8B $3B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $2.4B Revenue (TTM), FY24 Q1: $2.5B Revenue (TTM), FY24 Q2: $2.6B Revenue (TTM), FY24 Q3: $2.6B Revenue (TTM), FY24 Q4: $2.7B Revenue (TTM), FY25 Q1: $2.7B Revenue (TTM), FY25 Q2: $2.8B Revenue (TTM), FY25 Q3: $2.8B Revenue (TTM), FY25 Q4: $2.8B Revenue (TTM), FY26 Q1: $2.8B Revenue (TTM), FY26 Q2: $2.9B Revenue (TTM), FY26 Q3: $2.9B $2.9B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $2.4B
FY24 Q1 $2.5B
FY24 Q2 $2.6B
FY24 Q3 $2.6B
FY24 Q4 $2.7B
FY25 Q1 $2.7B
FY25 Q2 $2.8B
FY25 Q3 $2.8B
FY25 Q4 $2.8B
FY26 Q1 $2.8B
FY26 Q2 $2.9B
FY26 Q3 $2.9B
Revenue growth, TTM YoY Oceaneering International Inc
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 17.4% Revenue growth, TTM YoY, FY24 Q1: 15.3% Revenue growth, TTM YoY, FY24 Q2: 14.7% Revenue growth, TTM YoY, FY24 Q3: 12.8% Revenue growth, TTM YoY, FY24 Q4: 9.8% Revenue growth, TTM YoY, FY25 Q1: 10.0% Revenue growth, TTM YoY, FY25 Q2: 8.1% Revenue growth, TTM YoY, FY25 Q3: 8.7% Revenue growth, TTM YoY, FY25 Q4: 4.6% Revenue growth, TTM YoY, FY26 Q1: 2.4% Revenue growth, TTM YoY, FY26 Q2: 3.8% Revenue growth, TTM YoY, FY26 Q3: 3.0% 3.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 17.4%
FY24 Q1 15.3%
FY24 Q2 14.7%
FY24 Q3 12.8%
FY24 Q4 9.8%
FY25 Q1 10.0%
FY25 Q2 8.1%
FY25 Q3 8.7%
FY25 Q4 4.6%
FY26 Q1 2.4%
FY26 Q2 3.8%
FY26 Q3 3.0%
Operating margin (TTM) Oceaneering International Inc
7% 8% 9% 10% 11% 12% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 7.5% Operating margin (TTM), FY24 Q1: 7.7% Operating margin (TTM), FY24 Q2: 7.9% Operating margin (TTM), FY24 Q3: 8.3% Operating margin (TTM), FY24 Q4: 9.3% Operating margin (TTM), FY25 Q1: 10.3% Operating margin (TTM), FY25 Q2: 10.9% Operating margin (TTM), FY25 Q3: 11.2% Operating margin (TTM), FY25 Q4: 10.9% Operating margin (TTM), FY26 Q1: 10.3% Operating margin (TTM), FY26 Q2: 10.4% Operating margin (TTM), FY26 Q3: 10.4% 10.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 7.5%
FY24 Q1 7.7%
FY24 Q2 7.9%
FY24 Q3 8.3%
FY24 Q4 9.3%
FY25 Q1 10.3%
FY25 Q2 10.9%
FY25 Q3 11.2%
FY25 Q4 10.9%
FY26 Q1 10.3%
FY26 Q2 10.4%
FY26 Q3 10.4%
FCF margin (TTM) Oceaneering International Inc
0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 4.5% FCF margin (TTM), FY24 Q1: 3.0% FCF margin (TTM), FY24 Q2: 4.2% FCF margin (TTM), FY24 Q3: 4.6% FCF margin (TTM), FY24 Q4: 3.6% FCF margin (TTM), FY25 Q1: 3.1% FCF margin (TTM), FY25 Q2: 3.7% FCF margin (TTM), FY25 Q3: 3.9% FCF margin (TTM), FY25 Q4: 7.5% FCF margin (TTM), FY26 Q1: 8.5% FCF margin (TTM), FY26 Q2: 7.8% FCF margin (TTM), FY26 Q3: 9.9% 9.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 4.5%
FY24 Q1 3.0%
FY24 Q2 4.2%
FY24 Q3 4.6%
FY24 Q4 3.6%
FY25 Q1 3.1%
FY25 Q2 3.7%
FY25 Q3 3.9%
FY25 Q4 7.5%
FY26 Q1 8.5%
FY26 Q2 7.8%
FY26 Q3 9.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Oceaneering International took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $2.8B
  2. Other income $49.2M · 1.8%
  3. Cost of revenue $2.2B · 79.6%
  4. Gross profit $568M · 20.4%
  5. Selling, general and admin $264M · 9.5%
  6. Operating income $305M · 10.9%
  7. Net income $354M · 12.7%

Shares of revenue. Source: Oceaneering International's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1,822 1,917 2,193 2,783 3,287 3,660 3,063 2,272 1,922 1,909 2,048 1,828 1,869 2,066 2,425 2,661 2,784 2,914
Gross profit 438 466 509 628 766 859 605 279 195 129 98 164 264 307 399 485 568 581
EBITDA 415 463 486 605 747 858 615 321 224 148 −27 83 180 232 286 350 407 411
Operating income 292 310 335 429 545 628 374 71 11 −145 −291 −446 40 111 181 246 305 304
Net income 187 200 236 289 372 428 231 25 166 −212 −348 −497 −49 26 97 147 354 331
Diluted EPS $1.70 $1.82 $2.16 $2.66 $3.42 $4.00 $2.34 $0.25 $1.68 −$2.16 −$3.52 −$5.01 −$0.49 $0.26 $0.95 $1.44 $3.49 $3.29
Growth (year on year)
Revenue −7.9% +5.2% +14.4% +26.9% +18.1% +11.3% −16.3% −25.8% −15.4% −0.6% +7.3% −10.8% +2.3% +10.5% +17.4% +9.8% +4.6% +3.0%
EBITDA −4.1% +11.6% +4.9% +24.5% +23.5% +14.8% −28.3% −47.8% −30.2% −33.9% −118.4% — +116.8% +29.1% +23.5% +22.2% +16.3% −1.7%
Operating income −8.0% +6.0% +8.2% +28.0% +27.2% +15.3% −40.5% −81.1% −84.9% — — — — +178.6% +63.6% +35.8% +23.7% −4.3%
Net income −6.2% +6.8% +17.9% +22.6% +28.5% +15.3% −46.1% −89.4% — −227.6% — — — — — +51.4% +139.9% +42.7%
Diluted EPS −52.2% +7.1% +18.7% +23.1% +28.6% +17.0% −41.5% −89.3% — −228.6% — — — — — +51.6% +142.4% +44.0%
Margins
Gross margin 24.0% 24.3% 23.2% 22.6% 23.3% 23.5% 19.8% 12.3% 10.1% 6.8% 4.8% 9.0% 14.1% 14.9% 16.5% 18.2% 20.4% 19.9%
EBITDA margin 22.8% 24.2% 22.2% 21.7% 22.7% 23.4% 20.1% 14.1% 11.7% 7.8% −1.3% 4.5% 9.6% 11.2% 11.8% 13.1% 14.6% 14.1%
Operating margin 16.0% 16.1% 15.3% 15.4% 16.6% 17.2% 12.2% 3.1% 0.6% −7.6% −14.2% −24.4% 2.1% 5.4% 7.5% 9.3% 10.9% 10.4%
Net margin 10.3% 10.4% 10.7% 10.4% 11.3% 11.7% 7.5% 1.1% 8.7% −11.1% −17.0% −27.2% −2.6% 1.3% 4.0% 5.5% 12.7% 11.4%
Free-cash-flow margin 13.3% 13.4% 2.4% 4.9% 4.5% 9.2% 11.9% 10.0% 2.2% −3.8% 0.5% 4.2% 9.4% 1.9% 4.5% 3.6% 7.5% 9.9%
Cash flow
Cash from operations 418 442 289 438 531 722 564 339 136 37 158 137 225 121 210 203 319 380
Capital spending 175 185 235 301 383 387 200 112 94 109 148 61 50 81 101 107 111 92
Free cash flow 243 257 54 137 149 335 364 227 43 −73 10 76 175 40 109 96 208 288
Stock-based pay 6 8 13 16 19 20 17 15 12 12 11 9 11 10 12 13 15 19
Free cash flow after stock pay 237 248 41 121 130 315 347 212 31 −85 −2 67 164 29 97 83 193 269
Balance sheet
Cash 162 245 106 121 91 431 385 450 430 354 374 452 538 569 462 498 689 735
Total debt 120 0 120 94 0 743 796 793 792 787 797 805 702 701 477 482 487 491
Net debt (negative = net cash) −42 −245 14 −27 −91 313 411 343 362 432 423 353 164 132 15 −16 −201 −244
Diluted shares 110m 110m 109m 109m 109m 107m 99m 98m 99m 98m 99m 99m 100m 101m 102m 102m 101m 101m
Returned to shareholders
Dividends — — — — — — — — 44 0 0 — — — — — — —
Buybacks 0 50 17 19 0 590 100 0 0 — — — — — — 20 40 25
Total returned 0 50 17 19 0 590 100 0 44 0 0 — — — — 20 40 25

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 6 checks passed · September 30, 2026
What it owns · $2.8bn
Short-term assets $1.7bnLonger-term assets $1.1bn
What it owes, and who funded it · $2.0bn
Short-term liabilities $770mShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $1.7bn of assets due within a year against $770m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $735m of cash against $491m of debt.
  • Debt below 40% of shareholders' equity Debt is 40% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 141% to 40% over five years.
  • A year's operating cash flow covers at least 20% of debt $380m of operating cash flow against $491m of debt.
  • Operating profit covers interest at least five times over Operating income of $304m against $35m of interest.

From Oceaneering International Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$25.1M
Buybacks, last 3 fiscal years
$60.3M
Diluted share count
−0.9%
year over year
Total shareholder yield
0.7%
dividends 0.0% + buybacks 0.7% of market value
Sales & admin spending
9.5%
of revenue
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas equipment & services
Last 12 months unless stated OII EFXT LBRT WFRD RES ACDC Median
Revenue, last 12 months $2.9bn $2.6bn $4.4bn $4.7bn $1.8bn $1.8bn $1.2bn
Revenue growth, last 12 months 3.0% 6.5% 13.6% −5.7% 17.8% −16.2% 3.7%
Revenue growth, 3-year average 8.1% — −3.2% −2.0% 2.0% −16.4% 2.0%
Revenue growth, latest quarter 5.6% — 26.3% −7.2% 4.6% −0.8% 7.3%
Gross margin 19.9% 22.6% 18.0% 21.2% 23.3% 0.2% 21.1%
Operating margin 10.4% 11.9% 1.7% 12.4% −2.2% −15.0% 7.3%
Operating margin, 3-year average 10.0% — 4.9% 15.0% 3.6% −6.5% 7.2%
Net margin 11.4% 2.5% 0.9% 8.6% −1.8% −22.8% 2.6%
Cash from operations / revenue 13.1% 13.4% 12.6% 16.4% 9.8% 4.8% 11.7%
Free-cash-flow margin 9.9% 12.7% −14.7% 12.3% 2.0% −3.4% 2.0%
Free-cash-flow margin, 3-year average 6.2% — −2.2% 10.6% 5.5% 2.4% 4.0%
Stock pay / revenue 0.7% 1.0% 0.8% 1.1% 0.8% 0.6% 1.1%
Change in share count −0.9% −0.9% 0.1% −1.2% 1.0% 12.0% 1.0%

Median of all 35 companies we cover in oil & gas equipment & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

35 oil & gas equipment & services companies
Measure Company Peer median Rank
Revenue growth Growth 3.0% 3.7% 19 of 35
Change in growth rate Growth -0.8pp +1.5pp 26 of 34
Gross margin Profitability 19.9% 21.5% 15 of 21
Operating margin Profitability 10.4% 7.2% 11 of 32
Net margin Profitability 11.4% 2.6% 6 of 35
Free-cash-flow margin Cash generation 9.9% 2.0% 10 of 35
Stock pay as % of revenue Cash generation 0.7% 1.1% 7 of 32
Long-term debt as % of assets Balance sheet 17.7% 22.6% 12 of 32
Change in share count Balance sheet -0.9% 1.0% 11 of 31
Days sales outstanding Balance sheet 56 days 74 days 8 of 26

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Subsea Robotics $855M 30.7% ▲ 3.1%
Offshore Projects Group $616M 22.1% ▲ 4.2%
Manufactured Products $569M 20.4% ▲ 2.4%
Aerospace and Defense Technologies $460M 16.5% ▲ 17.0%
Integrity Management Digital Solutions $284M 10.2% ▼ 2.7%
Products and services
Line of business Revenue Share YoY
Services $2.2B 79.3% ▲ 5.2%
Products $576M 20.7% ▲ 2.4%
Geography
Region Revenue Share YoY
Outside the US $1.5B 55.2% ▲ 0.5%
United States $1.2B 80.7% ▲ 10.3%
United Kingdom $290M 18.8% ▼ 0.6%
Africa $418M 15.0% ▼ 3.9%
Asia Pacific $259M 9.3% ▲ 11.2%
Brazil $248M 8.9% ▲ 8.1%
NO $228M 8.2% ▲ 8.5%
Other Geographical Member $97.8M 3.5% ▼ 27.1%

From Oceaneering International Inc's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.2B
Institutions reporting
373
Shares held vs prior quarter
▲ 2.5%
Positions opened / closed
57 / 53

Top buyers and sellers, Q2 2026: 204 institutions bought and 163 sold ; the biggest buyer was Franklin Resources Inc (+2.2M shares) and the biggest seller Boston Partners (−855K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $665M 16.4M 15.7% ▲ 0.3%
Vanguard Portfolio Management LLC $321M 7.9M 7.6% ▲ 4.6%
State Street Corp $202M 5.0M 4.8% ▼ 0.8%
Brown Advisory Inc $201M 5.0M 4.8% ▼ 14.2%
Vanguard Capital Management LLC $182M 4.5M 4.3% ▲ 0.1%
American Century Companies Inc $163M 4.0M 3.9% ▲ 6.8%
Earnest Partners LLC $144M 3.5M 3.4% ▼ 3.7%
Dimensional Fund Advisors LP $144M 3.5M 3.4% ▲ 2.5%
Neuberger Berman Group LLC $131M 3.2M 3.1% ▲ 0.3%
Morgan Stanley Institutional Investment Advisors LLC $124M 3.1M 2.9% ▼ 11.2%
Franklin Resources Inc $124M 3.1M 2.9% ▲ 269.5%
Geode Capital Management, LLC $115M 2.8M 2.7% ▲ 19.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Oceaneering International Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $11.3M 26 trades by 13 insiders · 13% under pre-set plans
Net ▼ $11.3M net selling
Insider Date Trade Shares Price Value
Larson Roderick A. President and CEO October 1, 2026 Sell pre-set plan 4,300 $44.38 $190,834
Larson Roderick A. President and CEO October 1, 2026 Sell pre-set plan 1,700 $43.61 $74,137
Murphy Paul B Jr Director August 7, 2026 Sell 10,000 $48.37 $483,700
Childress Earl SVP, Chief Commercial Ofc. July 30, 2026 Sell 12,701 $46.71 $593,264
Mcevoy M Kevin Director July 30, 2026 Sell 3,000 $47.93 $143,790
Dyer Christopher J SVP, OPGroup July 30, 2026 Sell 1,200 $47.65 $57,180
Goodwin Deanna L Director June 30, 2026 Sell 7,000 $40.69 $284,830
Larson Roderick A. President and CEO May 18, 2026 Sell 5,000 $38.27 $191,350
Mcdonald Martin J SVP, Subsea Robotics May 13, 2026 Sell 43,947 $38.49 $1.7M
Mcdonald Martin J SVP, Subsea Robotics May 12, 2026 Sell 26,053 $38.33 $998,611
Mcevoy M Kevin Director March 11, 2026 Sell 25,678 $35.27 $905,663
Granato Leonardo P SVP, IMDS February 26, 2026 Sell 1,236 $37.00 $45,732

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Oceaneering International Inc disclosed in the last 12 months; 1 earlier trade on record.

  • Thomas MacArthur(NJ):Sale (full), $1,001 - $15,000, traded January 27, 2015, filed March 5, 2015

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 20, 2027 estimated from the company's past filing pattern, not announced

  • October 21, 2026
  • July 22, 2026
  • April 22, 2026
  • February 18, 2026
  • October 22, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Oceaneering International Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Oceaneering International Inc in brief

What does Oceaneering International Inc do?
Oceaneering International Inc is a US-listed company in the oil & gas equipment & services industry. Its financial year ends in December.
What is Oceaneering International Inc's stock ticker?
Oceaneering International Inc trades under the ticker OII on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Oceaneering International Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Oceaneering International Inc reported revenue of $2.9B, 3.0% higher than a year earlier, according to its SEC filings.
What is Oceaneering International Inc's free cash flow?
Oceaneering International Inc's free-cash-flow margin is 9.9% of revenue over the trailing twelve months, ranking 10 of the 35 oil & gas equipment & services companies we cover.
What is Oceaneering International Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Oceaneering International Inc's free cash flow after stock-based pay gives ~$41 per share in the base case, and ~$32–$54 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Oceaneering International Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Oceaneering International Inc buying back stock, and does it pay a dividend?
Oceaneering International Inc spent $25.1M on share repurchases over the trailing twelve months, and its diluted share count fell 0.9% over the year.
What is Oceaneering International Inc's market cap?
On November 2, 2026, Oceaneering International Inc's market capitalisation was about $3.9B, with a price-to-earnings ratio of 11.6 and net debt of -$244M. Market figures come from third-party market data and may be delayed.
How much debt does Oceaneering International Inc have?
Oceaneering International Inc's debt-to-equity ratio is 40.2%, from its latest balance sheet (141.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Oceaneering International Inc's competitors?
In our Oil & Gas Equipment & Services peer group, the companies closest to Oceaneering International Inc are Enerflex Ltd., Liberty Energy Inc., Weatherford International plc, RPC Inc and Profrac Holding Corp. The side-by-side comparison below sets their revenue, margins and growth against Oceaneering International Inc's.
Are insiders buying or selling Oceaneering International Inc stock?
Over the last 12 months, Oceaneering International Inc's directors and officers reported 0 open-market purchases and 26 sales on Form 4. The insider trading page charts every trade.
When is Oceaneering International Inc's next earnings date?
Around January 20, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Oceaneering International Inc announces its own schedule.