Oceaneering International, Inc. (OII) AI Stock Analysis

Oceaneering International, Inc. provides engineered services, products, and advanced robotic solutions across offshore energy, defense, aerospace, manufacturing, and entertainment sectors. The Subsea Robotics segment operates a fleet of 250 work-class remotely operated vehicles (ROVs) for subsea hardware installation, pipeline inspection, surveying, maintenance, and repair, alongside autonomous underwater vehicles. The Manufactured Products segment supplies distribution and connection systems, production control umbilicals, pipeline repair systems, autonomous mobile robots, automated guided vehicles, and entertainment systems. The Offshore Projects Group delivers subsea installation and intervention services, while the Integrity Management & Digital Solutions segment provides asset integrity management and digital solutions.

Oceaneering grew revenue from $1.87B in FY2021 to $2.78B in FY2025, representing a 5-year revenue CAGR of 8.8%. Profitability improved steadily over this timeframe, with gross margin expanding from 14.1% to 20.4% and operating margin rising from 2.1% to 10.9%. Net income transitioned from -$49.3M in FY2021 to $353.8M in FY2025, resulting in diluted EPS increasing from $0.17 to $1.92. In the trailing twelve months ended June 30, 2026, revenue stood at $2.87B with an operating margin of 11.5% and EPS of $3.46. For the latest quarter ended June 30, 2026, quarterly revenue grew 10.0% year-over-year, while quarterly earnings grew 20.4%.

As of June 30, 2026, Oceaneering held $629.5M in cash and short-term investments against total debt of $822.2M, leaving net debt at $192.7M. Total assets stood at $2.69B and shareholders' equity was $1.17B, supported by a current ratio of 2.18 and a debt-to-equity ratio of 0.70. Operating cash flow in FY2025 reached $318.9M, funding capital expenditures of $111.0M and generating free cash flow of $207.8M. The company directed $40.3M toward share buybacks in FY2025.

At a last close of $43.79, Oceaneering has a market cap of $4.36B and an enterprise value of $4.77B. The stock trades at a trailing P/E of 12.7x, below the 15.0x median of its US-listed Energy peers, but its forward P/E of 18.8x and EV/EBITDA of 11.3x trade at premiums to the peer medians of 12.7x and 8.0x. Price-to-sales is 1.5x compared to the peer median of 1.8x. Over the past year, the stock returned 94.2%, outperforming the S&P 500 (SPY) return of 16.8%, and over five years returned 186.4% versus 83.0% for the index.

Wall Street coverage includes 3 Hold ratings and 1 Sell rating, with no Buy or Strong Buy recommendations. The mean price target is $46.00, representing a 5.0% premium over the last close of $43.79. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $2.95B and EPS of $2.06, reflecting 6.7% EPS growth. For FY2027, 3 analysts project revenue of $3.06B and EPS of $2.32. The company exceeded EPS estimates in 3 of the last 4 quarters, with the next earnings date set for October 21, 2026.

This page is an AI-written research summary of Oceaneering International, Inc. (OII). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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