Oceaneering International (OII) AI Stock Analysis

• Market Cap: $2.66B
• Dividend Yield: N/A
• Average Volume (3M): 757.00K
• Price to Earnings (P/E): 11.4
• Beta (1Y): 1.26
• Revenue Growth: 8.71%
• EPS Growth: 72.09%
• Country: US
• Employees: 10,400
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.55
• Shares Outstanding: 99,775,210
• 10 Day Avg. Volume: 759,715
• 30 Day Avg. Volume: 756,996
• PEG Ratio: 0.35
• Price to Book (P/B): 3.69
• Price to Sales (P/S): 0.99
• P/FCF Ratio: 27.46
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 1.02
• Enterprise Value/Gross Profit: 5.01
• Enterprise Value/Ebitda: 6.79
• 1Y Price Target: $25.00
• Price Target Upside: -7.54% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): 1.85
• Revenue Forecast (FY): $2.79B

• Rating: 73 Outperform
• Price Target: $26.00 ▼(-3.85% Downside)

Oceaneering International's strong financial performance and undervaluation are key strengths, supported by record EBITDA and strategic growth in the ADTech segment. However, technical indicators suggest weak momentum, and anticipated revenue declines in Q4 present challenges. The company's solid cash flow and strategic positioning provide resilience and potential for future growth.

Positive Factors

Strong EBITDA Performance

Record EBITDA indicates robust operational efficiency and profitability, enhancing the company's ability to invest in growth and innovation.

ADTech Segment Growth

Significant growth in ADTech demonstrates strong market demand and positions Oceaneering for future expansion in diversified sectors.

Strong Free Cash Flow

Robust free cash flow supports financial flexibility, enabling strategic investments and debt reduction, enhancing long-term stability.

Negative Factors

Decline in OPG Revenue

A decline in OPG revenue suggests challenges in international markets, potentially impacting overall revenue and profitability.

IMDS Revenue Decline

Reduced activity in IMDS could weaken Oceaneering's service diversification, affecting its market position and revenue stability.

Projected Q4 Revenue Decline

Anticipated Q4 revenue decline highlights potential volatility in core segments, posing risks to consistent financial performance.

Oceaneering International Business Overview & Revenue Model

Company Description

Oceaneering International, Inc. is a global provider of engineered services and products, primarily to the offshore oil and gas industry. The company operates in various sectors, including subsea services, robotics, and advanced technologies. Its core offerings include remotely operated vehicles (ROVs), subsea intervention services, and engineering solutions that enhance operational efficiency and safety in challenging underwater environments. Oceaneering also serves the aerospace, defense, and entertainment industries through its innovative applications of robotics and advanced technology.

How the Company Makes Money

Oceaneering generates revenue through multiple key streams. The primary source is the provision of subsea services, which includes the rental and operation of ROVs for underwater exploration, inspection, and maintenance tasks. Additionally, the company earns income from engineering services that support complex projects in the oil and gas sector. Oceaneering also benefits from the sale of specialized equipment and technology solutions, such as tooling and subsea hardware. Significant partnerships with major oil and gas companies and government contracts in defense and aerospace projects further contribute to its earnings. The company’s diversified portfolio allows it to mitigate market risks while capitalizing on opportunities in various sectors.

Oceaneering International Financial Statement Overview

Summary

Oceaneering International shows consistent revenue growth and improved profitability with a strong gross profit margin. The balance sheet reflects reduced leverage and strong return on equity, while cash flow generation is robust. However, there is room for improvement in profitability and cash conversion efficiency.

Income Statement

Oceaneering International has demonstrated consistent revenue growth, with a TTM growth rate of 2.28% and a strong improvement in profitability metrics. The gross profit margin has increased to 20.43%, and the net profit margin has improved to 8.21%, indicating enhanced operational efficiency. The EBIT and EBITDA margins have also shown positive trends, reflecting better cost management. However, the growth rate is moderate, and there is room for further improvement in profitability.

Balance Sheet

The company's balance sheet shows a significant reduction in leverage, with the debt-to-equity ratio decreasing to 0.53 in the TTM period, indicating improved financial stability. Return on equity has increased to 28.59%, showcasing strong profitability relative to shareholder equity. However, the equity ratio remains moderate, suggesting a balanced but not overly conservative capital structure.

Cash Flow

Oceaneering International's cash flow performance is solid, with a 9.84% growth in free cash flow in the TTM period. The operating cash flow to net income ratio is 0.30, indicating adequate cash generation relative to net income. The free cash flow to net income ratio of 0.49 suggests a healthy conversion of earnings into cash. While cash flow metrics are strong, further improvement in cash conversion efficiency could enhance the financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.83B	2.66B	2.42B	2.07B	1.87B	1.83B
Gross Profit	578.11M	485.49M	398.97M	307.38M	264.06M	163.94M
EBITDA	426.91M	366.28M	302.54M	238.24M	172.82M	73.90M
Net Income	232.21M	147.47M	97.40M	25.94M	-49.31M	-496.75M
Balance Sheet
Total Assets	2.54B	2.34B	2.24B	2.03B	1.96B	2.05B
Cash, Cash Equivalents and Short-Term Investments	512.99M	504.52M	461.57M	575.11M	544.34M	462.19M
Total Debt	899.92M	851.75M	848.66M	872.39M	879.35M	980.12M
Total Liabilities	1.63B	1.62B	1.60B	1.51B	1.45B	1.49B
Stockholders Equity	907.67M	714.26M	628.02M	519.74M	504.96M	552.09M
Cash Flow
Free Cash Flow	113.66M	96.08M	109.23M	39.84M	175.12M	75.96M
Operating Cash Flow	228.11M	203.21M	209.96M	120.88M	225.31M	136.65M
Investing Cash Flow	-131.44M	-124.17M	-86.35M	-76.86M	-34.16M	-52.59M
Financing Cash Flow	-45.62M	-27.04M	-227.30M	-1.86M	-101.68M	-1.70M

Oceaneering International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OII, the sentiment is Positive. The current price of 27.04 is above the 20-day moving average (MA) of 25.21, above the 50-day MA of 24.10, and above the 200-day MA of 21.88, indicating a bullish trend. The MACD of 0.87 indicates Negative momentum. The RSI at 57.52 is Neutral, neither overbought nor oversold. The STOCH value of 70.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OII.

Oceaneering International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TDW	78 Outperform	$2.76B	18.79	13.43%	―	4.42%	-13.55%
OII	73 Outperform	$2.66B	11.39	28.92%	―	8.71%	72.09%
NOV	72 Outperform	$5.98B	16.37	5.93%	3.11%	-1.43%	-63.13%
HLX	71 Outperform	$1.05B	24.86	2.71%	―	-1.95%	530.91%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
PUMP	61 Neutral	$1.16B	―	-2.05%	―	-11.65%	87.57%
AESI	50 Neutral	$1.25B	―	-1.20%	9.81%	20.68%	-112.42%

Oceaneering International Corporate Events

Oceaneering International Releases Investor Handout Online

Oceaneering International announced that an investor handout will be available for viewing and downloading on their website starting November 17, 2025, after market close. This release is intended for institutional investor meetings and clarifies that the information provided will not be considered ‘filed’ under the Securities Exchange Act of 1934 or the Securities Act of 1933 unless specifically referenced.

Oceaneering International Releases Investor Handout

Oceaneering International announced that an investor handout will be available for viewing and downloading on their website starting November 4, 2025, after market close. This handout is intended for institutional investor meetings and will not be considered filed under the Securities Exchange Act of 1934 or incorporated by reference in any securities filings unless specifically identified.