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1. Company Snapshot

1.a. Company Description

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 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.

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1.b. Last Insights on OII

Breaking News: Oceaneering International Inc recently reported no recent earnings release data available. However SVP Jennifer Fremont Simons sold 10284 shares for approximately 401000 on Feb 25 2026. The sale accounted for 2252 of her total holdings. The company is shifting away from oilfield services. No analyst recommendation is available as of the latest data. Analysts at various firms have not provided any recent recommendations on the stock. The transaction was made at a weighted average price of 3896 per share.

1.c. Company Highlights

2. Oceaneering's Strong 2025 Execution Sets Stage for Continued Growth

Oceaneering reported a robust financial performance in 2025, with consolidated revenue reaching $2.8 billion, a 5% increase from 2024. The company's operating income improved significantly, rising by $58 million or 24% to $305 million, while adjusted EBITDA grew by $54 million or 16% to $401 million. Earnings per share (EPS) came in at $0.45, beating estimates of $0.44. The strong performance was driven by continued pricing progression, operational delivery, and growing contributions from Aerospace and Defense Technologies (ADTech).

Publication Date: Feb -22

📋 Highlights
  • 2025 Revenue Growth: Consolidated revenue reached $2.8 billion, reflecting a 5% increase compared to 2024.
  • Operating Income Improvement: Operating income rose to $305 million, a $58 million (24%) increase year-over-year.
  • ADTech Growth Momentum: Aerospace and Defense Technologies (ADTech) drove revenue and operating income growth across all three government-focused businesses.
  • 2026 EBITDA Guidance: EBITDA projected to range between $390 million and $440 million, with year-over-year improvements in all segments except OPG.
  • Capital Allocation Strategy: Organic capital expenditures set at $105–$115 million, with 40% allocated to growth projects and 60% to maintenance.

Segment Performance

The company's operating segments demonstrated varied performance, with all segments except IMDS achieving revenue increases. The ADTech segment is expected to drive growth in 2026, with significant improvements anticipated. As Roderick Larson noted, "We have momentum in ADTech, digital and software services, and international projects," highlighting the company's diversified growth drivers.

Guidance and Outlook

Oceaneering projects consolidated revenue to grow in the low to mid-single-digit percentage range in 2026, with EBITDA expected to range from $390 million to $440 million. The company anticipates free cash flow of $100 million to $120 million, with a year-over-year reduction primarily due to the early receipt of customer payments in the fourth quarter of 2025. Analysts estimate revenue growth at 8.1% next year, indicating a positive outlook.

Valuation and Metrics

With a P/E Ratio of 9.91, P/B Ratio of 3.26, and EV/EBITDA of 7.92, Oceaneering's valuation appears reasonable. The company's ROIC of 15.98% and ROE of 39.31% indicate strong profitability. The Net Debt / EBITDA ratio of -0.49 suggests a healthy balance sheet, providing flexibility for future acquisitions and investments.

Growth Drivers and Opportunities

Oceaneering's growth is driven by its diversified portfolio, including ADTech, digital and software services, and international projects. The company's expertise in ROVs, maritime, and space systems positions it well for future opportunities. Additionally, the integration of machine vision, machine learning, and AI is expected to improve inspection capabilities, driving growth in the IMDS segment.

3. NewsRoom

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Are You Looking for a Top Momentum Pick? Why Oceaneering International (OII) is a Great Choice

Mar -04

Source: zacks.com

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Oceaneering's SVP Sells 10k Shares as Company Shifts Away from Oilfield Services

Mar -01

Source: fool.com

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Oceaneering International (NYSE:OII) Trading 6.5% Higher on Analyst Upgrade

Feb -24

Source: defenseworld.net

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CenterBook Partners LP Invests $409,000 in Oceaneering International, Inc. $OII

Feb -22

Source: defenseworld.net

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Oceaneering International (NYSE:OII) Stock Price Down 4.6% – Here’s Why

Feb -22

Source: defenseworld.net

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Oceaneering Q4 Earnings Surpass Estimates, Revenues Miss

Feb -20

Source: zacks.com

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Oceaneering Announces Participation at First Quarter 2026 Investor Conferences

Feb -20

Source: businesswire.com

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Oceaneering International, Inc. (OII) Hit a 52 Week High, Can the Run Continue?

Feb -20

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.44%)

6. Segments

Subsea Robotics

Expected Growth: 5.5%

Oceaneering International's Subsea Robotics segment growth of 5.5% is driven by increasing demand for offshore oil and gas exploration, rising adoption of autonomous underwater vehicles (AUVs) for inspection and maintenance, and growing need for efficient subsea operations. Additionally, advancements in robotics and artificial intelligence (AI) are enhancing the capabilities of subsea robots, further fueling growth.

Offshore Projects Group

Expected Growth: 5.8%

Oceaneering International's Offshore Projects Group growth of 5.8% is driven by increasing deepwater exploration and production activities, rising demand for subsea infrastructure, and growing adoption of advanced technologies such as ROVs and AUVs. Additionally, the group's strategic partnerships and expanding presence in regions like the Gulf of Mexico and Asia Pacific contribute to its growth momentum.

Manufactured Products

Expected Growth: 5.2%

Oceaneering International's 5.2% growth in manufactured products is driven by increasing demand for subsea equipment and services, expansion in the renewable energy sector, and growing adoption of remotely operated vehicles (ROVs) in offshore oil and gas exploration and production.

Aerospace and Defense Technologies

Expected Growth: 5.0%

Oceaneering International's Aerospace and Defense Technologies segment growth is driven by increasing demand for unmanned underwater vehicles, advanced sensors, and communication systems. Government investments in defense modernization, rising adoption of autonomous systems, and growing need for surveillance and reconnaissance capabilities are key growth catalysts, contributing to a 5.0% growth rate.

Integrity Management & Digital Solutions

Expected Growth: 5.6%

Oceaneering International's Integrity Management & Digital Solutions segment growth of 5.6% is driven by increasing demand for asset integrity services, adoption of digital technologies, and expansion into new markets. Growing need for predictive maintenance, inspection, and repair services, as well as investments in data analytics and cloud-based solutions, also contribute to this growth.

7. Detailed Products

Remotely Operated Vehicles (ROVs)

Oceaneering's ROVs are unmanned underwater vehicles that are operated remotely to perform a variety of tasks, including inspection, maintenance, and repair of offshore oil and gas platforms, wind farms, and other underwater infrastructure.

Diving Services

Oceaneering provides diving services for offshore oil and gas platforms, wind farms, and other underwater infrastructure, including saturation diving, surface diving, and remotely operated vehicle (ROV) support.

Asset Integrity

Oceaneering's asset integrity services provide inspection, maintenance, and repair of offshore oil and gas platforms, wind farms, and other underwater infrastructure to ensure the integrity and reliability of these assets.

Non-Destructive Testing (NDT) and Inspection

Oceaneering provides NDT and inspection services to detect and diagnose defects or damage in offshore oil and gas platforms, wind farms, and other underwater infrastructure.

Decommissioning and Abandonment

Oceaneering provides decommissioning and abandonment services for offshore oil and gas platforms, wind farms, and other underwater infrastructure, including plugging and abandonment of wells, and removal of infrastructure.

Renewable Energy Services

Oceaneering provides services for the renewable energy industry, including installation, maintenance, and repair of offshore wind farms and other renewable energy infrastructure.

Autonomous Underwater Vehicles (AUVs)

Oceaneering's AUVs are unmanned underwater vehicles that are used for a variety of tasks, including survey, inspection, and monitoring of offshore oil and gas platforms, wind farms, and other underwater infrastructure.

8. Oceaneering International, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Oceaneering International, Inc. is medium due to the availability of alternative products and services in the oil and gas industry.

Bargaining Power Of Customers

The bargaining power of customers for Oceaneering International, Inc. is low due to the company's strong relationships with its customers and the lack of buyer concentration in the industry.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Oceaneering International, Inc. is medium due to the presence of several suppliers in the industry, but the company's large scale of operations gives it some bargaining power.

Threat Of New Entrants

The threat of new entrants for Oceaneering International, Inc. is low due to the high barriers to entry in the oil and gas industry, including the need for significant capital investment and specialized expertise.

Intensity Of Rivalry

The intensity of rivalry for Oceaneering International, Inc. is high due to the competitive nature of the oil and gas industry, with many established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 46.92%
Debt Cost 7.12%
Equity Weight 53.08%
Equity Cost 16.14%
WACC 11.91%
Leverage 88.40%

11. Quality Control: Oceaneering International, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Archrock

A-Score: 5.6/10

Value: 3.9

Growth: 4.9

Quality: 5.9

Yield: 8.0

Momentum: 5.0

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
NOV

A-Score: 5.4/10

Value: 7.7

Growth: 5.4

Quality: 5.0

Yield: 4.0

Momentum: 5.0

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
Tidewater

A-Score: 5.2/10

Value: 6.7

Growth: 7.2

Quality: 7.0

Yield: 0.0

Momentum: 7.5

Volatility: 2.7

1-Year Total Return ->

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Stock-Card
Weatherford

A-Score: 4.7/10

Value: 5.9

Growth: 7.2

Quality: 6.1

Yield: 1.0

Momentum: 4.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Cactus

A-Score: 4.4/10

Value: 5.5

Growth: 4.4

Quality: 8.1

Yield: 2.0

Momentum: 1.5

Volatility: 5.0

1-Year Total Return ->

View Full Report
Stock-Card
Oceaneering

A-Score: 4.2/10

Value: 6.3

Growth: 4.6

Quality: 6.2

Yield: 0.0

Momentum: 3.5

Volatility: 4.7

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

35.14$

Current Price

35.14$

Potential

-0.00%

Expected Cash-Flows