Oceaneering International (OII) AI Stock Analysis

• Market Cap: $2.67B
• Dividend Yield: N/A
• Average Volume (3M): 785.73K
• Price to Earnings (P/E): 11.5
• 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: 722,780
• 30 Day Avg. Volume: 785,733
• 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: $25.50
• Price Target Upside: -5.70% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $27.00 ▼(-0.15% Downside)

The score is driven primarily by improving financial performance (better margins, lower leverage, solid free cash flow) and a constructive earnings update with record EBITDA and strong cash generation. These positives are tempered by mixed/soft near-term technical momentum and guidance for a weaker Q4 with declines expected in OPG and IMDS, while valuation appears reasonable on P/E but lacks dividend support.

Positive Factors

Revenue Growth

The 9% revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion and competitiveness.

Cash Generation

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

Leadership Change

The appointment of a new CFO with a strong background can drive strategic financial management, improving long-term operational efficiency.

Negative Factors

Q4 Revenue Decline

Expected revenue decline in Q4 may impact short-term financial performance, potentially affecting investment capacity and market perception.

OPG Revenue Decline

A decline in OPG revenue suggests challenges in international projects, which could hinder growth in this segment and affect overall profitability.

IMDS Revenue Decline

Decreased activity in IMDS could weaken the company's market position in digital solutions, impacting long-term growth prospects.

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 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 25.02, above the 50-day MA of 24.69, and above the 200-day MA of 22.29, indicating a bullish trend. The MACD of 0.42 indicates Negative momentum. The RSI at 57.23 is Neutral, neither overbought nor oversold. The STOCH value of 76.13 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	$2.80B	19.30	13.43%	―	4.42%	-13.55%
NOV	72 Outperform	$6.39B	17.51	5.93%	3.24%	-1.43%	-63.13%
HLX	71 Outperform	$1.04B	24.72	2.71%	―	-1.95%	530.91%
OII	69 Neutral	$2.67B	11.50	28.92%	―	8.71%	72.09%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
PUMP	50 Neutral	$978.47M	-56.75	-2.05%	―	-11.65%	87.57%
AESI	50 Neutral	$1.28B	-110.62	-1.20%	10.12%	20.68%	-112.42%

Oceaneering International Corporate Events

Oceaneering International announces new CFO and director appointments

On December 22, 2025, Oceaneering International announced governance and leadership changes effective January 1, 2026, including the election of former Murphy Oil chief executive Roger Jenkins as an independent, non-executive Class III director with a term running to the 2028 annual meeting, and the appointment of Michael W. Sumruld as Senior Vice President and Chief Financial Officer following the planned year-end 2025 retirement of current CFO Alan R. Curtis. Jenkins, who has deep operational and governance experience across the energy and financial sectors through senior roles at Murphy Oil, Texaco, and board positions at Regions Financial, Noble Corporation and key industry associations, is expected to enhance the board’s strategic and risk oversight, while Sumruld, a former CFO of Parker Drilling with a broad mandate over finance, investor relations and corporate development, will take over Oceaneering’s financial leadership under a compensation and incentive structure aligned with other senior executives, signaling an emphasis on continuity and disciplined capital stewardship during a CFO transition supported by Curtis through an orderly handover period.

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 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.

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 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.

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.