A Business at a Glance
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OCEANEERING INTERNATIONAL INC
OII
$5.3B
Mkt Cap
$52.73
+9.81%
OCEANEERING INTERNATIONAL INC (OII) has a current P/E ratio of 15.1, compared to its historical median P/E of 17.5. The stock is currently considered Fair based on its historical valuation range.
OCEANEERING INTERNATIONAL INC (OII) has a 5-year average return on invested capital (ROIC) of 23.3%. This indicates strong capital allocation and a potential competitive advantage.
OCEANEERING INTERNATIONAL INC (OII) has a market capitalization of $5.8B. It is classified as a mid-cap stock.
OCEANEERING INTERNATIONAL INC (OII) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.52%.
Based on historical P/E analysis, OCEANEERING INTERNATIONAL INC (OII) appears fair. The current P/E of 15.1 is 14% below its historical median of 17.5. The estimated fair value CAGR (P/E method) is 97.0%.
OCEANEERING INTERNATIONAL INC (OII) operates in the Oil & Gas Field Services, Nec industry, within the Energy sector.
GENERAL DEVELOPMENT OF BUSINESS Oceaneering International, Inc. (“Oceaneering,” “we,” “us” or “our”) is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace and manufacturing industries. Oceaneering was organized as a Delaware corporation in 1969 out of the combination of three diving service companies founded in the early 1960s. Since our establishment, we have concentrated on the development and marketing of underwater services and products to meet customer needs requiring the use of advanced technology. The continued evolution of applying our advanced technologies has expanded our presence into numerous adjacent markets focused on autonomous robotics. We believe we are one of the world's largest underwater services contractors.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.8B | 2.8B | 2.7B | 2.4B | 2.1B | 1.9B |
| Net Income | 970K | 354M | 56M | 113M | 95M | 275M |
| EPS | $0.01 | $3.49 | $1.44 | $0.95 | $0.26 | $2.75 |
| Free Cash Flow | 238M | 208M | 96M | 109M | 40M | 175M |
| ROIC | 17.5% | 39.2% | 24.7% | 20.1% | 10.9% | 21.4% |
| Gross Margin | 20.0% | 20.4% | 18.2% | 16.5% | 14.9% | 14.1% |
| Debt/Equity | 0.44 | 0.46 | 0.67 | 0.76 | 1.35 | 1.39 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 289M | 305M | 246M | 181M | 111M | 40M |
| Operating Margin | 10.3% | 10.9% | 9.3% | 7.5% | 5.4% | 2.1% |
| ROE | 0.1% | 39.6% | 8.3% | 19.6% | 18.5% | 52.0% |
| Shares Outstanding | 111M | 101M | 39M | 118M | 365M | 100M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.7B | 3.1B | 2.3B | 1.9B | 1.9B | 2.0B | 1.8B | 1.9B | 2.1B | 2.4B | 2.7B | 2.8B | 2.8B |
| Gross Margin | 23.5% | 19.8% | 12.3% | 10.1% | 6.8% | 4.8% | 9.0% | 14.1% | 14.9% | 16.5% | 18.2% | 20.4% | 20.0% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 231M | 232M | 208M | 184M | 198M | 215M | 196M | 224M | 197M | 218M | 239M | 264M | 272M |
| EBIT | 628M | 374M | 71M | 11M | -145M | -291M | -446M | 40M | 111M | 181M | 246M | 305M | 289M |
| Op. Margin | 17.2% | 12.2% | 3.1% | 0.6% | -7.6% | -14.2% | -24.4% | 2.1% | 5.4% | 7.5% | 9.3% | 10.9% | 10.3% |
| Net Income | 293M | 333M | 315M | 166M | 249M | 506M | 633M | 275M | 95M | 113M | 56M | 354M | 970K |
| Net Margin | 8.0% | 10.9% | 13.9% | 8.7% | 13.0% | 24.7% | 34.7% | 14.7% | 4.6% | 4.6% | 2.1% | 12.7% | 0.0% |
| Non-Recurring | 1.2M | -4.9M | 11M | -216K | 86M | 7.0M | 342M | 1.4M | 1.1M | 1.0M | -502K | 19M | 19M |
| Returns on Capital | |||||||||||||
| ROIC | 19.8% | 11.9% | 13.4% | 7.0% | 10.7% | 24.9% | 39.3% | 21.4% | 10.9% | 20.1% | 24.7% | 39.2% | 17.5% |
| ROE | 15.9% | 20.6% | 20.3% | 10.5% | 16.2% | 40.8% | 78.1% | 52.0% | 18.5% | 19.6% | 8.3% | 39.6% | 0.1% |
| ROA | 8.8% | 9.6% | 9.6% | 5.4% | 8.5% | 18.2% | 26.5% | 13.7% | 4.8% | 5.3% | 2.4% | 14.1% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 722M | 564M | 339M | 136M | 37M | 158M | 137M | 225M | 121M | 210M | 203M | 319M | 340M |
| Free Cash Flow | 335M | 364M | 227M | 43M | -73M | 9.9M | 76M | 175M | 40M | 109M | 96M | 208M | 238M |
| Owner Earnings | 472M | 305M | 75M | -89M | -269M | -117M | -401M | 75M | -10M | 93M | 87M | 202M | 219M |
| CapEx | 387M | 200M | 112M | 94M | 109M | 148M | 61M | 50M | 81M | 101M | 107M | 111M | 102M |
| Maint. CapEx | 230M | 241M | 250M | 214M | 294M | 263M | 529M | 140M | 121M | 105M | 103M | 102M | 105M |
| Growth CapEx | 157M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.7M | 8.8M | 0 |
| D&A | 230M | 241M | 250M | 214M | 294M | 263M | 529M | 140M | 121M | 105M | 103M | 102M | 105M |
| CapEx/OCF | 53.6% | 35.5% | 33.1% | 68.6% | N/A | 93.7% | 44.4% | 22.3% | 67.0% | 48.0% | 52.7% | 34.8% | 30.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | 1.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 590M | 100M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20M | 40M | 30M |
| Buyback Yield | 14.6% | 1.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.8% | 1.6% | 0.5% |
| Stock-Based Comp | 20M | 17M | 15M | 12M | 12M | 11M | 8.7M | 11M | 10M | 12M | 13M | 15M | 16M |
| Debt Repayment | 6.9M | 6.9M | 0 | 0 | 300M | 0 | 0 | 0 | 0 | 178M | 112K | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 313M | 411M | 343M | 362M | 422M | 413M | 343M | 158M | 126M | 15M | -23M | -208M | -119M |
| Cash & Equiv. | 431M | 385M | 450M | 430M | 354M | 374M | 452M | 538M | 569M | 462M | 498M | 689M | 607M |
| Long-Term Debt | 743M | 796M | 793M | 792M | 787M | 797M | 805M | 702M | 701M | 477M | 482M | 487M | 489M |
| Debt/Equity | 0.45 | 0.50 | 0.52 | 0.48 | 0.56 | 0.74 | 1.46 | 1.39 | 1.35 | 0.76 | 0.67 | 0.46 | 0.44 |
| Interest Coverage | 133.5 | 14.9 | 2.8 | 0.4 | -3.9 | -6.8 | -10.2 | 1.0 | 2.9 | 5.0 | 6.5 | 8.2 | 7.8 |
| Equity | 1.7B | 1.6B | 1.5B | 1.7B | 1.4B | 1.1B | 552M | 505M | 520M | 628M | 714M | 1.1B | 1.1B |
| Total Assets | 3.5B | 3.4B | 3.1B | 3.0B | 2.8B | 2.7B | 2.0B | 2.0B | 2.0B | 2.2B | 2.3B | 2.7B | 2.6B |
| Total Liabilities | 1.8B | 1.9B | 1.6B | 1.4B | 1.4B | 1.7B | 1.5B | 1.5B | 1.5B | 1.6B | 1.6B | 1.6B | -33M |
| Intangibles | 61M | 94M | 88M | 85M | 80M | 26M | 14M | 13M | 12M | 21M | 33M | 30M | 30M |
| Retained Earnings | 2.2B | 2.4B | 2.3B | 2.4B | 2.2B | 1.9B | 1.4B | 1.3B | 1.3B | 1.4B | 1.6B | 1.9B | 2.0B |
| Working Capital | 1.0B | 902M | 754M | 752M | 750M | 643M | 733M | 687M | 729M | 573M | 591M | 751M | 788M |
| Current Assets | 1.7B | 1.5B | 1.3B | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.3B | 1.3B | 1.4B | 1.5B | 1.5B |
| Current Liabilities | 679M | 616M | 508M | 436M | 495M | 601M | 437M | 501M | 568M | 732M | 797M | 762M | 729M |
| Per Share Data | |||||||||||||
| EPS | 4.00 | 2.34 | 0.25 | 1.68 | 2.53 | 5.12 | 6.38 | 2.75 | 0.26 | 0.95 | 1.44 | 3.49 | 0.01 |
| Owner EPS | 6.43 | 2.15 | 0.06 | -0.89 | -2.73 | -1.19 | -4.04 | 0.75 | -0.03 | 0.78 | 2.25 | 1.99 | 1.98 |
| Book Value | 22.59 | 11.10 | 1.20 | 16.75 | 14.31 | 10.82 | 5.56 | 5.06 | 1.42 | 5.30 | 18.45 | 10.56 | 9.99 |
| Cash Flow/Share | 9.84 | 3.96 | 0.27 | 1.38 | 0.37 | 1.59 | 1.38 | 2.26 | 0.33 | 1.77 | 5.25 | 3.15 | 0.96 |
| Dividends/Share | 1.03 | 1.08 | 0.96 | 0.45 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 73.4M | 142.2M | 1.3B | 99.0M | 98.5M | 98.9M | 99.2M | 99.7M | 365.2M | 118.5M | 38.7M | 101.4M | 110.8M |
| Valuation | |||||||||||||
| P/E Ratio | 13.8 | 15.6 | 111.0 | 12.4 | N/A | N/A | N/A | N/A | 63.8 | 22.8 | 17.5 | 6.9 | N/A |
| P/FCF | 12.1 | 14.3 | 154.0 | 48.2 | N/A | 148.8 | 10.4 | 6.6 | 152.0 | 23.5 | 10.2 | 11.8 | 24.5 |
| EV/EBIT | 7.0 | 15.0 | 498.8 | N/A | N/A | N/A | N/A | N/A | 55.7 | 14.2 | 8.4 | 5.1 | 19.8 |
| Price/Book | 2.4 | 3.3 | 23.0 | N/A | N/A | N/A | N/A | N/A | 11.6 | 4.1 | 3.6 | 2.3 | 5.3 |
| Price/Sales | 1.3 | 2.1 | 15.9 | N/A | N/A | N/A | N/A | N/A | 2.2 | 1.0 | 0.9 | 0.8 | 2.1 |
| FCF Yield | 8.3% | 7.0% | 0.6% | N/A | N/A | N/A | N/A | N/A | 0.7% | 4.3% | 3.7% | 8.5% | 4.1% |
| Market Cap | 4.1B | 5.2B | 35.0B | N/A | N/A | N/A | N/A | N/A | 6.1B | 2.6B | 2.6B | 2.4B | 5.8B |
| Avg. Price | 64.15 | 44.70 | 28.68 | 24.41 | 22.02 | 15.53 | 6.73 | 12.71 | 12.27 | 20.35 | 24.09 | 22.54 | 52.73 |
| Year-End Price | 55.30 | 36.47 | 27.76 | 20.83 | 12.03 | 14.88 | 7.97 | 11.64 | 16.58 | 21.62 | 25.20 | 24.16 | 52.73 |
OCEANEERING INTERNATIONAL INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
OCEANEERING INTERNATIONAL INC trades at 15.1x trailing earnings, compared to its 15-year median P/E of 17.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 25.2x vs a median of 11.1x. The company's 5-year average ROIC is 23.3% with a gross margin of 16.8%. Total shareholder yield (buybacks) is 0.5%. At current prices, the estimated annualized return to fair value is +0.1%.
OCEANEERING INTERNATIONAL INC (OII) reported annual revenue of $2.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
OCEANEERING INTERNATIONAL INC (OII) has a net profit margin of 12.7%. This is a healthy margin.
OCEANEERING INTERNATIONAL INC (OII) generated $208 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
OCEANEERING INTERNATIONAL INC (OII) has a debt-to-equity ratio of 0.46. This indicates a conservatively financed balance sheet.
OCEANEERING INTERNATIONAL INC (OII) reported earnings per share (EPS) of $3.49 in its most recent fiscal year.
OCEANEERING INTERNATIONAL INC (OII) has a return on equity (ROE) of 39.6%. This indicates the company generates strong returns for shareholders.
OCEANEERING INTERNATIONAL INC (OII) has a 5-year average gross margin of 16.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for OCEANEERING INTERNATIONAL INC (OII), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
OCEANEERING INTERNATIONAL INC (OII) has a book value per share of $10.56, based on its most recent annual SEC filing.