Oceaneering International (OII) AI Stock Analysis

• Market Cap: $2.14B
• Dividend Yield: N/A
• Average Volume (3M): 743.50K
• Price to Earnings (P/E): 11.9
• Beta (1Y): 1.07
• Revenue Growth: 10.04%
• EPS Growth: 68.14%
• Country: US
• Employees: 10,400
• Sector: Energy
• Sector Strength: 54
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.43
• Shares Outstanding: 100,594,530
• 10 Day Avg. Volume: 962,736
• 30 Day Avg. Volume: 743,502
• PEG Ratio: <0.01
• Price to Book (P/B): 2.78
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 24.88
• Enterprise Value/Market Cap: 1.21
• Enterprise Value/Revenue: 0.25
• Enterprise Value/Gross Profit: 4.92
• Enterprise Value/Ebitda: 1.87
• 1Y Price Target: $21.50
• Price Target Upside: 0.99% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 72 Outperform
• Price Target: $23.00 ▲(8.03%Upside)

Oceaneering International's overall stock score reflects strong financial performance and positive earnings call insights, particularly in key growth areas like Subsea Robotics. While technical indicators and valuation are moderate, the company's challenges in cash flow management and certain segments' performance slightly temper the overall outlook.

Oceaneering International Business Overview & Revenue Model

Company Description

Oceaneering International, Inc. provides engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair. This segment also offers ROV tooling, and survey services, such as hydrographic survey and positioning services, as well as autonomous underwater vehicles for geoscience. As of December 31, 2021, this segment owned 250 work-class ROVs. Its Manufactured Products segment provides distribution and connection systems, including production control umbilicals and field development hardware, pipeline connection, and repair systems to the energy industry; and autonomous mobile robots and automated guided vehicle technology and entertainment systems to various industries. The company's Offshore Projects Group segment offers subsea installation and intervention, including riserless light well intervention services and inspection, and maintenance and repair services; installation and workover control systems, and ROV workover control systems; project management and engineering; and drill pipe riser services and systems, and wellhead load relief solutions. Its Integrity Management & Digital Solutions segment provides asset integrity management; software and analytical solutions for the bulk cargo maritime industry; and software, digital, and connectivity solutions for the energy industry. The company's Aerospace and Defense Technologies segment offers government services and products, including engineering and related manufacturing in defense and space exploration activities to U.S. government agencies and their prime contractors. Oceaneering International, Inc. was founded in 1964 and is headquartered in Houston, Texas.

How the Company Makes Money

Oceaneering International generates revenue through a diverse range of products and services tailored for the offshore energy industry. The company's primary revenue streams include the leasing and operation of ROVs, subsea products and services, and asset integrity services. Key partnerships with major oil and gas companies facilitate long-term contracts and consistent demand for their specialized equipment and expertise. Additionally, Oceaneering has expanded its offerings to include technology solutions for renewable energy projects and advanced marine services, further diversifying its income sources. The company's ability to innovate and adapt to the evolving needs of the energy sector plays a significant role in sustaining its revenue model.

Oceaneering International Financial Statement Overview

Summary

Oceaneering International shows solid financial performance with strong revenue growth and improved profitability margins. The balance sheet indicates stability with moderate leverage and strong equity utilization. However, there is room for improvement in free cash flow growth.

Income Statement

Oceaneering International shows robust growth in its income statement. The company achieved a remarkable revenue growth rate of 15.1% from 2022 to 2023 and 9.8% from 2023 to 2024, indicating a strong upward trajectory. Gross profit margin for TTM is 19.3%, and the net profit margin improved significantly to 6.7% for the TTM, reflecting enhanced profitability. EBIT and EBITDA margins also exhibit positive trends, with EBIT margin at 10.3% and EBITDA margin at 13.4% for the TTM. This demonstrates effective cost management and operational efficiency. However, the volatility in net income over the years suggests potential concerns in consistent profitability.

Balance Sheet

The balance sheet of Oceaneering International portrays a stable financial position with a debt-to-equity ratio of 0.9, indicating moderate leverage. The company has successfully maintained a healthy equity ratio of 34.2% for the TTM, highlighting financial stability. Return on Equity (ROE) stands at 23.4% for the TTM, reflecting effective use of equity to generate profits. The decrease in total debt from 2023 to 2025 suggests prudent debt management. Nonetheless, the company should be cautious of its liabilities, which remain significant relative to equity.

Cash Flow

The cash flow statement reflects a stable cash flow position. Operating cash flow to net income ratio for TTM is 1.1, indicating healthy cash generation relative to net income. Free cash flow to net income ratio is 0.5 for TTM, suggesting reasonable liquidity. However, free cash flow showed a decline from 2023 to 2024 but rebounded slightly in TTM. The company should focus on improving its free cash flow growth to ensure adequate liquidity for future investments and obligations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.74B	2.66B	2.42B	2.07B	1.87B	1.83B
Gross Profit	528.12M	485.49M	398.97M	307.38M	264.06M	163.94M
EBITDA	396.28M	366.28M	302.54M	231.83M	179.52M	-269.98M
Net Income	182.71M	147.47M	97.40M	25.94M	-49.31M	-496.75M
Balance Sheet
Total Assets	2.28B	2.34B	2.24B	2.03B	1.96B	2.05B
Cash, Cash Equivalents and Short-Term Investments	388.98M	504.52M	461.57M	568.75M	538.11M	462.19M
Total Debt	832.91M	851.75M	848.66M	720.55M	702.07M	805.25M
Total Liabilities	1.50B	1.62B	1.60B	1.51B	1.45B	1.49B
Stockholders Equity	773.07M	714.26M	628.02M	525.80M	511.02M	558.16M
Cash Flow
Free Cash Flow	86.28M	96.08M	109.23M	39.84M	175.12M	75.96M
Operating Cash Flow	193.98M	203.21M	209.96M	120.88M	225.31M	136.65M
Investing Cash Flow	-127.04M	-124.17M	-86.35M	-76.86M	-34.16M	-52.59M
Financing Cash Flow	-35.20M	-27.04M	-227.30M	-1.86M	-101.68M	-1.70M

Oceaneering International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• 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 21.29 is above the 20-day moving average (MA) of 20.99, above the 50-day MA of 19.79, and below the 200-day MA of 23.27, indicating a neutral trend. The MACD of 0.37 indicates Positive momentum. The RSI at 58.30 is Neutral, neither overbought nor oversold. The STOCH value of 69.53 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	77 Outperform	$2.38B	14.40	16.24%	―	19.34%	31.76%
RES	76 Outperform	$1.14B	14.71	7.06%	3.11%	-9.78%	-49.45%
DNOW	75 Outperform	$1.49B	18.92	7.22%	―	4.74%	-65.65%
OII	72 Outperform	$2.14B	11.91	26.17%	―	10.04%	68.14%
Sector *	71 Outperform	€4.81B	18.28	11.45%	4.59%	10.17%	-4.71%
HLX	71 Outperform	$980.40M	11.79	5.64%	―	0.34%	―
LBRT	69 Neutral	$1.96B	8.01	13.18%	2.61%	-7.45%	-44.88%

Oceaneering International Corporate Events

Oceaneering International Announces CFO Succession Plan

Oceaneering International announced a CFO succession plan with Alan R. Curtis retiring as CFO effective January 1, 2026, after a long tenure with the company. Michael W. Sumruld will join as Senior Vice President of Finance in September 2025 and is expected to succeed Curtis, ensuring a smooth transition and continued focus on growth and shareholder value.

The most recent analyst rating on (OII) stock is a Hold with a $24.00 price target. To see the full list of analyst forecasts on Oceaneering International stock, see the OII Stock Forecast page.

Oceaneering International Releases Investor Handout May 2025

Oceaneering International announced that an investor handout will be available on their website starting May 19, 2025, after market close. This move is part of their efforts to engage with institutional investors, potentially impacting their investor relations and market perception.

The most recent analyst rating on (OII) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Oceaneering International stock, see the OII Stock Forecast page.

Oceaneering International Holds Annual Shareholders Meeting

On May 9, 2025, Oceaneering International held its annual shareholders meeting where several key resolutions were passed. The company elected three Class III directors for a term ending in 2028, approved executive compensation, ratified the appointment of Ernst & Young LLP as auditors for 2025, and approved an amended incentive plan. These decisions reflect Oceaneering’s ongoing governance and operational strategies, potentially impacting its market positioning and stakeholder relations.