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Oceaneering International, Inc. (OII) 10-Year Financial Performance & Capital Metrics

OII • • Industrial / General
EnergyOilfield ServicesSubsea & Offshore EquipmentSubsea Systems & Equipment
AboutOceaneering 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.Show more
  • Revenue $2.66B +9.8%
  • EBITDA $350M +22.2%
  • Net Income $147M +51.4%
  • EPS (Diluted) 1.44 +51.6%
  • Gross Margin 18.24% +10.9%
  • EBITDA Margin 13.14% +11.3%
  • Operating Margin 9.25% +23.7%
  • Net Margin 5.54% +37.9%
  • ROE 21.78% +29.7%
  • ROIC 17.63% +19.9%
  • Debt/Equity 1.18 -11.7%
  • Interest Coverage 6.49 +30.8%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading near 52-week high
  • ✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.14%
5Y5.38%
3Y12.49%
TTM8.71%

Profit (Net Income) CAGR

10Y-10.11%
5Y-
3Y-
TTM70.87%

EPS CAGR

10Y-9.71%
5Y-
3Y-
TTM-36.09%

ROCE

10Y Avg1.99%
5Y Avg2.95%
3Y Avg11.99%
Latest16.17%

Peer Comparison

Subsea Systems & Equipment
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
FTITechnipFMC plc21.16B52.3127.3916.02%9.92%28.83%3.21%0.57
OIIOceaneering International, Inc.2.7B27.0718.809.75%8.21%25.41%3.56%1.18

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+3.06B2.27B1.92B1.91B2.05B1.83B1.87B2.07B2.42B2.66B
Revenue Growth %-0.16%-0.26%-0.15%-0.01%0.07%-0.11%0.02%0.11%0.17%0.1%
Cost of Goods Sold+2.46B1.99B1.73B1.78B1.95B1.66B1.61B1.76B2.03B2.18B
COGS % of Revenue0.8%0.88%0.9%0.93%0.95%0.91%0.86%0.85%0.84%0.82%
Gross Profit+605.43M279.23M194.61M129.23M98.24M163.94M264.06M307.38M398.97M485.49M
Gross Margin %0.2%0.12%0.1%0.07%0.05%0.09%0.14%0.15%0.16%0.18%
Gross Profit Growth %-0.3%-0.54%-0.3%-0.34%-0.24%0.67%0.61%0.16%0.3%0.22%
Operating Expenses+231.62M208.46M183.95M198.26M214.89M610.02M224.27M196.51M217.64M239.22M
OpEx % of Revenue0.08%0.09%0.1%0.1%0.1%0.33%0.12%0.1%0.09%0.09%
Selling, General & Admin231.62M208.46M183.95M198.26M214.89M195.69M224.27M196.51M217.64M239.22M
SG&A % of Revenue0.08%0.09%0.1%0.1%0.1%0.11%0.12%0.1%0.09%0.09%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses00000414.32M0000
Operating Income+373.81M70.76M10.66M-145.48M-116.65M-446.08M39.8M110.86M181.33M246.27M
Operating Margin %0.12%0.03%0.01%-0.08%-0.06%-0.24%0.02%0.05%0.07%0.09%
Operating Income Growth %-0.41%-0.81%-0.85%-14.65%0.2%-2.82%1.09%1.79%0.64%0.36%
EBITDA+615.04M321.01M224.18M148.11M132.07M82.82M179.52M231.83M286.29M349.71M
EBITDA Margin %0.2%0.14%0.12%0.08%0.06%0.05%0.1%0.11%0.12%0.13%
EBITDA Growth %-0.28%-0.48%-0.3%-0.34%-0.11%-0.37%1.17%0.29%0.23%0.22%
D&A (Non-Cash Add-back)241.24M250.25M213.52M293.59M248.71M528.89M139.72M120.97M104.96M103.44M
EBIT408.51M79.66M10.66M-148.09M-288.11M-455M33.1M117.27M197.58M262.83M
Net Interest Income+-24.44M-21.42M-20.46M-27.78M-34.82M-40.82M-36.33M-32.51M-21.1M-25.79M
Interest Income607K3.9M7.36M9.96M7.89M3.08M2.48M5.71M15.43M12.12M
Interest Expense25.05M25.32M27.82M37.74M42.71M43.9M38.81M38.22M36.52M37.92M
Other Income/Expense-37.55M-27.42M-28.5M-40.35M-214.17M-52.82M-45.51M-31.81M-20.27M-21.35M
Pretax Income+336.26M43.35M-17.84M-185.83M-330.82M-498.9M-5.71M79.05M161.06M224.92M
Pretax Margin %0.11%0.02%-0.01%-0.1%-0.16%-0.27%-0%0.04%0.07%0.08%
Income Tax+105.25M18.76M-184.24M26.49M17.62M-2.15M43.6M53.11M63.65M77.45M
Effective Tax Rate %0.69%0.57%-9.33%1.14%1.05%1%8.64%0.33%0.6%0.66%
Net Income+231.01M24.59M166.4M-212.33M-348.44M-496.75M-49.31M25.94M97.4M147.47M
Net Margin %0.08%0.01%0.09%-0.11%-0.17%-0.27%-0.03%0.01%0.04%0.06%
Net Income Growth %-0.46%-0.89%5.77%-2.28%-0.64%-0.43%0.9%1.53%2.75%0.51%
Net Income (Continuing)231.01M24.59M166.4M-212.33M-348.44M-496.75M-49.31M25.94M97.4M147.47M
Discontinued Operations0000000000
Minority Interest005.35M6.06M6.06M6.06M6.06M6.06M6.06M6.06M
EPS (Diluted)+2.340.251.68-2.15-3.52-5.01-0.490.260.951.44
EPS Growth %-0.41%-0.89%5.72%-2.28%-0.64%-0.42%0.9%1.53%2.65%0.52%
EPS (Basic)2.360.251.69-2.16-3.52-5.01-0.490.260.971.46
Diluted Shares Outstanding98.81M98.42M98.76M98.54M98.88M99.23M99.71M101.45M102.16M102.37M
Basic Shares Outstanding97.85M98.07M98.28M98.5M98.88M99.23M99.71M100.19M100.7M101.18M
Dividend Payout Ratio0.46%3.83%0.27%-------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.52B1.26B1.19B1.24B1.24B1.17B1.19B1.3B1.31B1.39B
Cash & Short-Term Investments385.24M450.19M430.32M364.44M383.83M462.19M544.34M575.11M461.57M504.52M
Cash Only385.24M450.19M430.32M354.26M373.65M452.02M538.11M568.75M461.57M497.52M
Short-Term Investments00010.18M10.18M10.18M6.23M6.37M07M
Accounts Receivable612.78M489.75M476.9M625.09M642.65M518.21M427.81M481.4M565.83M578.86M
Days Sales Outstanding73.0378.6990.59119.49114.53103.4883.5385.0585.1879.4
Inventory328.45M280.13M215.28M194.51M174.74M141.24M153.68M184.38M209.8M222.85M
Days Inventory Outstanding48.7951.3245.539.8832.7130.9834.9438.2737.837.39
Other Current Assets57.34M000000000
Total Non-Current Assets+1.91B1.87B1.84B1.58B1.5B875.58M774.86M734.62M933.35M948.45M
Property, Plant & Equipment1.27B1.15B1.06B964.67M939.77M732.31M635.69M578.06M761.85M754.82M
Fixed Asset Turnover2.42x1.97x1.81x1.98x2.18x2.50x2.94x3.57x3.18x3.53x
Goodwill426.87M443.55M455.6M413.12M405.08M35.02M34.91M34.34M34.21M49.35M
Intangible Assets93.7M87.8M85.29M80M25.77M14.32M12.64M11.52M21.18M33.33M
Long-Term Investments49.14M98.96M117.37M39.33M37.9M34.17M30.5M30.05M30.45M14.44M
Other Non-Current Assets645.31M71.97M89.44M615.44M87.71M59.77M61.11M80.66M59.63M64.61M
Total Assets+3.43B3.13B3.02B2.82B2.74B2.05B1.96B2.03B2.24B2.34B
Asset Turnover0.89x0.73x0.64x0.68x0.75x0.89x0.95x1.02x1.08x1.14x
Asset Growth %-0.02%-0.09%-0.03%-0.07%-0.03%-0.25%-0.04%0.04%0.1%0.04%
Total Current Liabilities+615.96M508.36M435.8M494.74M600.96M437.12M501.16M568.41M732.48M796.94M
Accounts Payable118.28M77.59M85.54M102.64M145.93M94.21M122.33M148.02M156.06M181.5M
Days Payables Outstanding17.5714.2118.0821.0427.3220.6627.8230.7228.1230.45
Short-Term Debt0000018.8M18.78M19.58M00
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities20.39M000055.37M52.48M63.21M00
Current Ratio2.46x2.48x2.72x2.52x2.07x2.68x2.37x2.28x1.78x1.74x
Quick Ratio1.93x1.93x2.23x2.12x1.78x2.35x2.06x1.96x1.50x1.46x
Cash Conversion Cycle104.25115.8118.01138.32119.92113.890.6692.5994.8686.33
Total Non-Current Liabilities+1.23B1.11B923.63M914.96M1.06B1.05B950.67M937.46M872.45M819.09M
Long-Term Debt795.84M793.06M792.31M786.58M796.52M805.25M702.07M700.97M477.06M482.01M
Capital Lease Obligations0000160.99M156.07M158.5M151.84M293.48M238.32M
Deferred Tax Liabilities353.18M236.11M42.04M18.24M1.13M2.99M1.38M2.23M1.03M2.49M
Other Non-Current Liabilities439.01M76.14M89.28M110.14M105.67M86.25M88.73M82.42M100.87M96.27M
Total Liabilities1.85B1.61B1.36B1.41B1.67B1.49B1.45B1.51B1.6B1.62B
Total Debt+795.84M793.06M792.31M786.58M977.37M980.12M879.35M872.39M848.66M851.75M
Net Debt410.6M342.87M362M432.32M603.71M528.11M341.24M303.65M387.09M354.23M
Debt / Equity0.50x0.52x0.47x0.55x0.91x1.76x1.72x1.66x1.34x1.18x
Debt / EBITDA1.29x2.47x3.53x5.31x7.40x11.83x4.90x3.76x2.96x2.44x
Net Debt / EBITDA0.67x1.07x1.61x2.92x4.57x6.38x1.90x1.31x1.35x1.01x
Interest Coverage14.92x2.80x0.38x-3.85x-2.73x-10.16x1.03x2.90x4.96x6.49x
Total Equity+1.58B1.52B1.67B1.42B1.08B558.16M511.02M525.8M634.08M720.32M
Equity Growth %-0.05%-0.04%0.1%-0.15%-0.24%-0.48%-0.08%0.03%0.21%0.14%
Book Value per Share15.9815.4116.9114.4210.885.625.135.186.217.04
Total Shareholders' Equity1.58B1.52B1.66B1.42B1.07B552.09M504.96M519.74M628.02M714.26M
Common Stock27.71M27.71M27.71M27.71M27.71M27.71M27.71M27.71M27.71M27.71M
Retained Earnings2.36B2.3B2.42B2.2B1.85B1.35B1.3B1.33B1.43B1.57B
Treasury Stock-743.58M-731.2M-718.95M-704.07M-681.64M-660.02M-631.81M-605.55M-574.38M-555.35M
Accumulated OCI-300.36M-302.66M-292.14M-339.38M-334.1M-359.31M-366.46M-386.13M-382.34M-429.45M
Minority Interest005.35M6.06M6.06M6.06M6.06M6.06M6.06M6.06M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+560.41M340.52M136.48M36.57M157.57M136.65M225.31M120.88M209.96M203.21M
Operating CF Margin %0.18%0.15%0.07%0.02%0.08%0.07%0.12%0.06%0.09%0.08%
Operating CF Growth %-0.22%-0.39%-0.6%-0.73%3.31%-0.13%0.65%-0.46%0.74%-0.03%
Net Income231.01M24.59M166.4M-212.33M-348.44M-496.75M-49.31M25.94M97.4M147.47M
Depreciation & Amortization241.24M250.25M213.52M293.59M263.43M528.89M139.72M120.97M104.96M103.44M
Stock-Based Compensation17.29M14.69M11.52M11.62M11.43M15.1M11.01M10.37M12.06M12.81M
Deferred Taxes29.09M98K-235.01M11.91M-12.27M-4.16M-1.8M829K-26.79M-11.29M
Other Non-Cash Items4.92M30.88M216K-8.21M176.63M81.39M26.02M-2.66M1.36M1.78M
Working Capital Changes36.87M20.03M-20.16M-60.01M66.8M12.17M99.67M-34.57M20.96M-50.99M
Change in Receivables178.8M123.04M13.14M-86.72M-17.56M125.54M41.1M-50.73M-83.08M-8M
Change in Inventory59.18M17.83M65.5M-12.48M-11.78M26.47M7.31M-30.69M-25.42M-13.09M
Change in Payables-44.78M-117.13M-76.31M28.5M17.56M-125.54M0000
Cash from Investing+-437.18M-169.47M-112.03M-98.84M-134.79M-52.59M-34.16M-76.86M-86.35M-124.17M
Capital Expenditures-199.97M-112.39M-93.68M-109.47M-147.68M-60.69M-50.2M-81.04M-100.73M-107.14M
CapEx % of Revenue0.07%0.05%0.05%0.06%0.07%0.03%0.03%0.04%0.04%0.04%
Acquisitions----------
Investments----------
Other Investing6.34M12.17M4.37M19.64M11.05M6.58M11.56M-2.29M8.14M-1.69M
Cash from Financing+-157M-97.14M-45.92M-5.63M-2.3M-1.7M-101.68M-1.86M-227.3M-27.04M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-106.45M-94.14M-44.22M0000000
Share Repurchases----------
Other Financing3.44M-3M-1.7M-1.44M-2.3M-1.7M-1.68M-1.86M-4.97M-6.88M
Net Change in Cash----------
Free Cash Flow+360.44M228.13M42.8M-72.9M9.88M75.96M175.12M39.84M109.23M96.08M
FCF Margin %0.12%0.1%0.02%-0.04%0%0.04%0.09%0.02%0.05%0.04%
FCF Growth %0.08%-0.37%-0.81%-2.7%1.14%6.68%1.31%-0.77%1.74%-0.12%
FCF per Share3.652.320.43-0.740.100.771.760.391.070.94
FCF Conversion (FCF/Net Income)2.43x13.85x0.82x-0.17x-0.45x-0.28x-4.57x4.66x2.16x1.38x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)14.28%1.59%10.44%-13.74%-27.91%-60.82%-9.22%5%16.8%21.78%
Return on Invested Capital (ROIC)14.14%2.76%0.41%-5.62%-4.95%-24.2%3.08%9.89%14.7%17.63%
Gross Margin19.77%12.29%10.13%6.77%4.8%8.97%14.13%14.88%16.45%18.24%
Net Margin7.54%1.08%8.66%-11.12%-17.01%-27.18%-2.64%1.26%4.02%5.54%
Debt / Equity0.50x0.52x0.47x0.55x0.91x1.76x1.72x1.66x1.34x1.18x
Interest Coverage14.92x2.80x0.38x-3.85x-2.73x-10.16x1.03x2.90x4.96x6.49x
FCF Conversion2.43x13.85x0.82x-0.17x-0.45x-0.28x-4.57x4.66x2.16x1.38x
Revenue Growth-16.31%-25.83%-15.41%-0.63%7.26%-10.75%2.26%10.53%17.36%9.75%

Revenue by Segment

2015201620172018201920202021202220232024
Subsea Robotics Member------538.51M621.92M752.52M829.82M
Subsea Robotics Member Growth-------15.49%21.00%10.27%
Offshore Projects Group------378.12M489.32M546.37M591.04M
Offshore Projects Group Growth-------29.41%11.66%8.18%
Manufactured Products Member------344.25M382.36M493.69M555.5M
Manufactured Products Member Growth-------11.07%29.12%12.52%
Aerospace and Defense Technologies Member------367M342.6M376.85M392.94M
Aerospace and Defense Technologies Member Growth--------6.65%10.00%4.27%
Integrity Managements & Digital Solutions Member------241.39M229.88M255.28M291.87M
Integrity Managements & Digital Solutions Member Growth--------4.77%11.05%14.33%
Service----1.33B1.34B----
Service Growth-----0.47%----
Product----714.34M487.86M----
Product Growth------31.71%----
Oil And Gas2.74B1.96B1.55B1.49B------
Oil And Gas Growth--28.50%-21.13%-3.56%------
Subsea Products Member959.71M692.03M625.51M515M------
Subsea Products Member Growth--27.89%-9.61%-17.67%------
Advanced Technologies Member317.88M309.08M373.57M416.63M------
Advanced Technologies Member Growth--2.77%20.87%11.53%------
Rovs Member807.72M522.12M393.65M394.8M------
Rovs Member Growth--35.36%-24.60%0.29%------
Subsea Projects Member604.48M472.98M291.99M329.16M------
Subsea Projects Member Growth--21.75%-38.27%12.73%------
Inspection Member372.96M275.4M236.78M253.89M------
Inspection Member Growth--26.16%-14.02%7.23%------

Revenue by Geography

2015201620172018201920202021202220232024
Non-US-----90.54M1.06B1.09B1.39B1.53B
Non-US Growth------1068.24%2.79%28.24%9.97%
UNITED STATES1.31B977.34M932.58M949.18M921.33M860.86M811.54M978.81M1.03B1.13B
UNITED STATES Growth--25.13%-4.58%1.78%-2.94%-6.56%-5.73%20.61%5.27%9.46%
Segment, Geographical, Groups of Countries, Foreign1.76B1.29B988.92M960.3M1.13B967.03M----
Segment, Geographical, Groups of Countries, Foreign Growth--26.35%-23.59%-2.89%17.34%-14.18%----
Segment, Geographical, Groups of Countries, Group Three116.65M66.87M81.36M103.55M91.59M-----
Segment, Geographical, Groups of Countries, Group Three Growth--42.67%21.67%27.27%-11.55%-----

Frequently Asked Questions

Valuation & Price

Oceaneering International, Inc. (OII) has a price-to-earnings (P/E) ratio of 18.8x. This is roughly in line with market averages.

Growth & Financials

Oceaneering International, Inc. (OII) reported $2.83B in revenue for fiscal year 2024. This represents a 29% increase from $2.19B in 2011.

Oceaneering International, Inc. (OII) grew revenue by 9.8% over the past year. This is steady growth.

Yes, Oceaneering International, Inc. (OII) is profitable, generating $232.2M in net income for fiscal year 2024 (5.5% net margin).

Dividend & Returns

Oceaneering International, Inc. (OII) has a return on equity (ROE) of 21.8%. This is excellent, indicating efficient use of shareholder capital.

Oceaneering International, Inc. (OII) generated $113.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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