OII

MKT CAP:$4B

Oceaneering International, Inc.

Market Cap

$4B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NYSE

Energy·Oil & Gas Equipment & Services·🇺🇸·NYSE

Stock Price

$37.97+$13.12 (+52.80%)

Apr 23, 2026

Company Details

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 ...

CEO

Roderick A. Larson

IPO Date

Oct 31, 1975

Website

www.oceaneering.com

Key Metrics TTM

Revenue

$2.8B

+2.4% YoY

Net Income

$339M

EPS (Diluted)

$3.01

Free Cash Flow

$240M

Revenue / Share

—

Gross Margin

15.5%

Operating Margin

8.2%

Net Margin

12.1%

FCF Margin

8.6%

P/S

1.3x

P/E

11.0x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$692M+2.7%EPS $0.00

FY 2025

Feb 20, 2026

$2.8B+4.6%EPS $3.49

Q4 2025

Feb 20, 2026

$669M-6.3%EPS $1.76

Q3 2025

Oct 23, 2025

$743M+9.3%EPS $0.71

Q2 2025

Jul 24, 2025

$698M+4.4%EPS $0.54

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$524M	$76M	$23M
Q3 22	$560M	$96M	$47M
Q4 22	$536M	$90M	$42M
Q1 23	$537M	$78M	$27M
Q2 23	$598M	$101M	$49M
Q3 23	$635M	$115M	$58M
Q4 23	$655M	$106M	$47M
Q1 24	$599M	$92M	$37M
Q2 24	$669M	$120M	$60M
Q3 24	$680M	$131M	$71M
Q4 24	$713M	$142M	$78M
Q1 25	$675M	$135M	$73M
Q2 25	$698M	$148M	$79M
Q3 25	$743M	$153M	$87M
Q4 25	$669M	$132M	$65M
Q1 26	$692M	$0	$0

Valuation

Quarter	P/S	P/E
Q2 22	0.6x	—
Q3 22	0.5x	—
Q4 22	0.8x	66.4x
Q1 23	0.9x	37.5x
Q2 23	0.9x	30.1x
Q3 23	1.1x	32.7x
Q4 23	0.9x	21.2x
Q1 24	1.0x	21.8x
Q2 24	0.9x	19.2x
Q3 24	1.0x	18.5x
Q4 24	1.0x	17.6x
Q1 25	0.8x	12.1x
Q2 25	0.8x	10.3x
Q3 25	0.9x	10.9x
Q4 25	0.9x	6.8x
Q1 26	1.2x	10.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	-$44M	-$60M
Q3 22	$86M	$67M
Q4 22	$155M	$129M
Q1 23	-$35M	-$54M
Q2 23	$13M	-$9M
Q3 23	$64M	$38M
Q4 23	$152M	$118M
Q1 24	-$70M	-$95M
Q2 24	$53M	$30M
Q3 24	$92M	$67M
Q4 24	$128M	$95M
Q1 25	-$81M	-$107M
Q2 25	$79M	$49M
Q3 25	$101M	$77M
Q4 25	$221M	$191M
Q1 26	-$59M	-$77M

Capital Expenditures

Quarter	CapEx
Q2 22	$16M
Q3 22	$19M
Q4 22	$26M
Q1 23	$18M
Q2 23	$22M
Q3 23	$26M
Q4 23	$34M
Q1 24	$26M
Q2 24	$23M
Q3 24	$25M
Q4 24	$34M
Q1 25	$26M
Q2 25	$30M
Q3 25	$24M
Q4 25	$30M
Q1 26	$17M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+5.2%	+5.4%
Q3 22	+19.9%	+13.7%
Q4 22	+14.9%	+3.1%
Q1 23	+20.4%	+14.1%
Q2 23	+14.1%	+9.5%
Q3 23	+13.5%	+12.6%
Q4 23	+22.1%	+22.9%
Q1 24	+11.6%	+10.2%
Q2 24	+11.9%	+10.9%
Q3 24	+7.0%	+5.4%
Q4 24	+9.0%	+4.7%
Q1 25	+12.6%	+6.9%
Q2 25	+4.4%	+1.7%
Q3 25	+9.3%	+7.9%
Q4 25	-6.3%	-5.1%
Q1 26	+2.7%	+15.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$2M	0.5%
Q3 22	$2M	0.4%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$14M	2.1%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q2 22	$53M
Q3 22	$49M
Q4 22	$48M
Q1 23	$51M
Q2 23	$52M
Q3 23	$57M
Q4 23	$58M
Q1 24	$56M
Q2 24	$60M
Q3 24	$60M
Q4 24	$64M
Q1 25	$62M
Q2 25	$62M
Q3 25	$123M

Revenue Segments

Quarter	Aerospace and Defense Technologies Member	Integrity Managements & Digital Solutions Member	Manufactured Products Member	Offshore Projects Group	Subsea Robotics Member
Q2 22	$86M	$59M	$105M	$116M	$157M
Q3 22	$85M	$58M	$94M	$153M	$169M
Q4 22	$91M	$55M	$100M	$122M	$167M
Q1 23	$90M	$60M	$113M	$104M	$169M
Q2 23	$93M	$63M	$125M	$131M	$187M
Q3 23	$99M	$66M	$123M	$150M	$197M
Q4 23	$95M	$66M	$133M	$161M	$200M
Q1 24	$98M	$70M	$129M	$115M	$187M
Q2 24	$97M	$73M	$139M	$144M	$215M
Q3 24	$99M	$74M	$144M	$148M	$216M
Q4 24	$99M	$75M	$143M	$184M	$212M
Q1 25	$97M	$71M	$135M	$165M	$206M
Q2 25	$110M	$75M	$145M	$149M	$219M
Q3 25	$126M	$71M	$156M	$171M	$219M

Revenue by Geography

Quarter	Non-US	United States
Q2 22	$271M	$253M
Q3 22	$290M	$270M
Q4 22	$277M	$260M
Q1 23	$288M	$249M
Q2 23	$331M	$267M
Q3 23	$370M	$265M
Q4 23	$406M	$248M
Q1 24	$336M	$263M
Q2 24	$385M	$284M
Q3 24	$384M	$296M
Q4 24	$428M	$285M
Q1 25	$379M	$295M
Q2 25	$384M	$314M
Q3 25	$405M	$338M
Q4 25	$372M	$296M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$438M	$6M	$444M
Q2 22	$368M	$6M	$374M
Q3 22	$428M	$6M	$434M
Q4 22	$569M	$6M	$575M
Q1 23	$505M	$6M	$511M
Q2 23	$504M	$6M	$510M
Q3 23	$556M	$0	$556M
Q4 23	$462M	$0	$462M
Q1 24	$355M	$0	$355M
Q2 24	$383M	$0	$383M
Q3 24	$452M	$7M	$459M
Q4 24	$498M	$7M	$505M
Q1 25	$382M	$7M	$389M
Q2 25	$434M	$7M	$441M
Q3 25	$506M	$7M	$513M
Q4 25	$689M	$0	$689M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	101M	+1.2%	+0.6%
Q3 22	101M	-0.1%	+1.5%
Q4 22	102M	+0.3%	+1.8%
Q1 23	102M	+0.4%	+1.8%
Q2 23	102M	-0.0%	+0.6%
Q3 23	102M	+0.2%	+0.9%
Q4 23	102M	+0.2%	+0.8%
Q1 24	102M	-0.1%	+0.2%
Q2 24	102M	+0.2%	+0.5%
Q3 24	103M	+0.1%	+0.4%
Q4 24	102M	-0.2%	+0.0%
Q1 25	102M	-0.5%	-0.3%
Q2 25	101M	-0.5%	-1.1%
Q3 25	101M	-0.3%	-1.5%
Q4 25	101M	-0.3%	-1.6%
Q1 26	0	-100.0%	-100.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$61.7K	9K
Q3 22	$65.8K	9K
Q4 22	$58.3K	9K
Q1 23	$58.4K	9K
Q2 23	$65.0K	9K
Q3 23	$69.0K	9K
Q4 23	$64.8K	10K
Q1 24	$59.3K	10K
Q2 24	$66.2K	10K
Q3 24	$67.3K	10K
Q4 24	$68.6K	10K
Q1 25	$64.9K	10K
Q2 25	$67.1K	10K
Q3 25	$71.4K	10K
Q4 25	$60.2K	11K
Q1 26	$62.4K	11K

Revenue / Employee