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Oceaneering International, Inc. provides engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries in the United States, Africa, the United Kingdom, Norway, Brazil, Asia, Australia, and internationally. It operates through five segments: Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies. The Subsea Robotics segment offers 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; ROV tooling; and survey services comprising hydrographic survey and positioning services and autonomous underwater vehicles for geoscience. Its Manufactured Products segment provides distribution and connection systems, such as production control umbilicals and field development hardware and pipeline connection and repair systems; connectors and subsea and topside control valves primarily to the energy industry; and autonomous mobile robotic technology to various industries. The Offshore Projects Group segment offers subsea installation and intervention, including riserless light well intervention services, inspection, maintenance and repair services; installation and workover control systems and ROV workover control systems; diving services; project management and engineering; and drill pipe riser services and systems and wellhead load relief solutions. Its Integrity Management & Digital Solution segment provides asset integrity management services, as well as software, digital, and connectivity solutions for the energy industry. The Aerospace and Defense Technologies segment offers services and products, such as engineering and related manufacturing in defense and space exploration activities. The company was founded in 1964 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.8B | $425M | $354M | $208M | 33.0% | 4.6% | 139.9% |
| 2024 | $2.7B | $366M | $147M | $96M | 20.6% | 9.8% | 51.4% |
| 2023 | $2.4B | $303M | $97M | $109M | 15.5% | 17.4% | 275.5% |
| 2022 | $2.1B | $238M | $26M | $40M | 5.0% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,066.08 | 2,424.71 | 2,661.16 | 2,784.16 |
| Operating Revenue | - | 2,066.08 | 2,424.71 | 2,661.16 | 2,784.16 |
| Cost Of Revenue | - | 1,758.71 | 2,025.74 | 2,175.67 | 2,215.71 |
| Gross Profit | - | 307.38 | 398.97 | 485.49 | 568.44 |
| Operating Expense | - | 196.51 | 217.64 | 239.22 | 263.89 |
| Selling General And Administration | - | 196.51 | 217.64 | 239.22 | 263.89 |
| Total Expenses | - | 1,955.22 | 2,243.38 | 2,414.89 | 2,479.60 |
| Operating Income | - | 110.86 | 181.33 | 246.27 | 304.55 |
| Total Operating Income As Reported | - | 110.86 | 181.33 | 246.27 | 304.55 |
| EBITDA | - | 238.24 | 302.54 | 366.28 | 425.13 |
| Normalized EBITDA | - | 238.24 | 302.54 | 366.28 | 425.13 |
| EBIT | - | 117.27 | 197.58 | 262.83 | 322.88 |
| Interest Income | - | 5.71 | 15.42 | 12.12 | 14.48 |
| Interest Expense | - | 38.22 | 36.52 | 37.92 | 36.98 |
| Net Interest Income | - | -32.51 | -21.10 | -25.79 | -22.49 |
| Other Non Operating Income Expenses | - | -1.01 | -1.24 | 3.51 | 2.80 |
| Other Income Expense | - | 0.70 | 0.82 | 4.44 | 3.84 |
| Interest Income Non Operating | - | 5.71 | 15.42 | 12.12 | 14.48 |
| Interest Expense Non Operating | - | 38.22 | 36.52 | 37.92 | 36.98 |
| Net Non Operating Interest Income Expense | - | -32.51 | -21.10 | -25.79 | -22.49 |
| Pretax Income | - | 79.05 | 161.06 | 224.92 | 285.90 |
| Tax Provision | - | 53.11 | 63.65 | 77.45 | -67.86 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Net Income From Continuing And Discontinued Operation | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Net Income From Continuing Operation Net Minority Interest | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Net Income | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Net Income Common Stockholders | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Net Income Including Noncontrolling Interests | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Normalized Income | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Diluted NI Availto Com Stockholders | - | 25.94 | 97.40 | 147.47 | 353.76 |
| Basic Average Shares | - | 100.26 | 100.80 | 100.66 | 99.36 |
| Diluted Average Shares | - | 101.45 | 102.16 | 102.37 | 101.26 |
| Reconciled Depreciation | - | 120.97 | 104.96 | 103.44 | 102.26 |
| Reconciled Cost Of Revenue | - | 1,758.71 | 2,025.74 | 2,175.67 | 2,215.71 |
| Total Unusual Items | 0 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | 0 | - | - | - |
| Special Income Charges | 0 | 0 | - | - | - |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Earnings From Equity Interest | - | 1.71 | 2.06 | 0.93 | 1.05 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Oceaneering International, Inc.this co. | OII | $4.0B | 11.22 | 3.71 | 33.0% | 9.77 |
| Cactus, Inc. | WHD | $4.1B | 24.62 | 3.33 | 13.5% | 12.23 |
| Comstock Resources, Inc. | CRK | $4.1B | 9.67 | 1.53 | 15.9% | 5.06 |
| Crescent Energy Company | CRGY | $4.0B | 30.32 | 0.78 | 2.6% | 5.84 |
| Helmerich & Payne, Inc. | HP | $4.0B |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| -24.17 |
| 1.45 |
| -6.0% |
| 9.06 |
| International Seaways, Inc. | INSW | $3.9B | 12.56 | 1.92 | 15.3% | 8.43 |
| Peabody Energy Corporation | BTU | $3.8B | -71.88 | 1.08 | -1.5% | 9.47 |
| Tidewater Inc. | TDW | $3.7B | 11.04 | 2.71 | 24.5% | 8.67 |
| CVR Energy, Inc. | CVI | $3.4B | 125.66 | 4.65 | 3.7% | 7.89 |
| Peer Median | - | 11.80 | 1.73 | 8.6% | 8.55 | |