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OII

Oceaneering International, Inc.

OII

Oceaneering International, Inc. • NYSE
$24.40 ▼ -0.25% (-0.06)
Market Cap $2.45 B
52w High $30.98
52w Low $15.46
Dividend Yield 0%
P/E 10.66
Volume 256.82K
Outstanding Shares 100.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $742.898M ▲ $66.224M ▼ $71.289M ▲ 9.596% ▲ $0.71 ▲ $107.014M ▼
Q2-2025 $698.161M ▲ $69.238M ▲ $54.442M ▲ 7.798% ▲ $0.54 ▲ $113.288M ▲
Q1-2025 $674.523M ▼ $61.539M ▼ $50.377M ▼ 7.469% ▼ $0.5 ▲ $102.901M ▼
Q4-2024 $713.45M ▲ $64.057M ▲ $56.099M ▲ 7.863% ▲ $-0.9 ▼ $103.709M ▲
Q3-2024 $679.811M $59.629M $41.237M 6.066% $0.41 $103.327M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $512.992M ▲ $2.539B ▲ $1.626B ▲ $907.668M ▲
Q2-2025 $441.048M ▲ $2.328B ▲ $1.479B ▼ $842.061M ▲
Q1-2025 $388.984M ▼ $2.275B ▼ $1.496B ▼ $773.065M ▲
Q4-2024 $504.516M ▲ $2.336B ▼ $1.616B ▼ $714.259M ▲
Q3-2024 $458.858M $2.356B $1.652B $697.978M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $71.289M ▲ $101.263M ▲ $-16.512M ▲ $-10.093M ▼ $71.944M ▲ $77.048M ▲
Q2-2025 $54.442M ▲ $79.191M ▲ $-29.705M ▼ $-9.985M ▲ $52.064M ▲ $48.919M ▲
Q1-2025 $50.377M ▼ $-80.718M ▼ $-24.305M ▲ $-15.615M ▼ $-115.532M ▼ $-106.806M ▼
Q4-2024 $56.099M ▲ $128.377M ▲ $-60.923M ▼ $-9.929M ▲ $45.658M ▼ $94.503M ▲
Q3-2024 $41.237M $91.931M $-20.037M $-10.111M $68.985M $67.045M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aerospace and Defense Technologies Member
Aerospace and Defense Technologies Member
 $100.00M ▲$100.00M ▲$110.00M ▲$130.00M ▲
Integrity Managements Digital Solutions Member
Integrity Managements Digital Solutions Member
 $80.00M ▲$70.00M ▼$80.00M ▲$70.00M ▼
Manufactured Products Member
Manufactured Products Member
 $140.00M ▲$140.00M ▲$150.00M ▲$160.00M ▲
Offshore Projects Group
Offshore Projects Group
 $180.00M ▲$160.00M ▼$150.00M ▼$170.00M ▲
Subsea Robotics Member
Subsea Robotics Member
 $210.00M ▲$210.00M ▲$220.00M ▲$220.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Oceaneering’s income statement shows a clear turnaround story. Revenue has grown steadily for several years, and profits have improved at every level – from gross profit through operating income to net income. The company moved from sizable losses earlier in the decade to consistent profitability more recently. Margins have widened, suggesting better pricing, higher utilization of assets, or improved cost control. Earnings per share have swung from deep negative territory to solidly positive, indicating both business recovery and better efficiency. The main risk is that this progress is tied to offshore activity levels, which can be cyclical and sensitive to energy prices and project timing.

Balance Sheet

Balance Sheet The balance sheet looks sturdier than a few years ago, but it is not risk‑free. Total assets have grown gradually, and shareholders’ equity has been rebuilt after earlier losses, which strengthens the financial cushion. Cash on hand is healthy and has stayed broadly consistent, giving the company some flexibility. Debt levels have remained fairly stable rather than climbing, which is reassuring, but the absolute amount of debt is still meaningful for a cyclical business. Overall, leverage appears manageable today, yet a sharp downturn in offshore spending could put this balance between debt, cash, and equity under pressure.

Cash Flow

Cash Flow Cash generation has been a relative bright spot. Operating cash flow has been positive each year and has generally trended upward as profitability improved. After capital spending, free cash flow has also remained positive, even while the company continues to invest in its asset base and technology. Capital expenditure looks disciplined rather than aggressive, supporting growth and maintenance without overextending. This pattern suggests that reported earnings are backed by real cash, and that the company has room to service debt, fund innovation, and navigate industry volatility, as long as conditions do not deteriorate sharply.

Competitive Edge

Competitive Edge Oceaneering holds a strong niche position in subsea services and technology. It operates one of the largest fleets of remotely operated vehicles in the world, giving it scale, experience, and data advantages that are hard for smaller rivals to match. Its ability to offer integrated packages – robotics, subsea hardware, project services, and integrity management – makes it attractive to major energy companies that want fewer vendors and reliable execution. A broad global footprint and long‑standing relationships with large oil and gas customers and government agencies further reinforce its position. At the same time, the company remains exposed to the highly cyclical offshore oil and gas market, where competition can intensify when activity slows and clients push harder on pricing.

Innovation and R&D

Innovation and R&D Innovation is a core strength. Oceaneering has built out advanced subsea robots, including next‑generation autonomous underwater vehicles, and continues to enhance its work‑class ROV fleet. Its specialized subsea connectors and custom‑engineered products provide differentiated, higher‑value offerings rather than pure commodity equipment. The company is also pushing into digital solutions, data analytics, and remote inspection through acquisitions and internal development. Beyond oil and gas, it is applying its robotics and engineering know‑how to defense, aerospace, logistics, and potentially renewable energy. These efforts could diversify revenue and deepen the moat, but they require sustained investment and careful execution to convert technical promise into consistent returns.

Summary

Overall, Oceaneering looks like a cyclical engineering and services company that has emerged from a difficult period with stronger financial performance and a clearer strategic focus. Profitability and cash flow have improved meaningfully, while the balance sheet has become more resilient, though still leveraged. Its competitive edge rests on subsea robotics leadership, integrated offerings, and long‑built customer relationships, supported by ongoing innovation in autonomy, digitalization, and robotics. The main opportunities lie in deeper penetration of offshore projects, expansion into defense and renewables, and scaling new robotics and software platforms. Key risks revolve around offshore energy cycles, project execution, capital intensity, and the challenge of staying ahead in fast‑moving robotics and automation markets.

NEWS

November 4, 2025 · 5:01 PM UTC

Oceaneering Announces Participation at Upcoming Investor Conferences

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October 28, 2025 · 5:01 PM UTC

Oceaneering Announces Award of Riserless Light Well Intervention Contract by bp Exploration (Caspian Sea) Limited

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October 22, 2025 · 5:01 PM UTC

Oceaneering Reports Third Quarter 2025 Results

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September 25, 2025 · 7:59 AM UTC

Oceaneering Announces Dates for Third Quarter 2025 Earnings Release and Conference Call

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