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Oceaneering International Inc (OII) stock analysis

OIINYSEOil & Gas Field Services, NECFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 22, 2026Score 10/3018% above fair value
$34.78−0.34 (-0.97%)

Close on Nov 12, 2026Market cap $3.46BP/E –Yield –

StockData Score

Prices as of Nov 12, 2026How the score works

Value1Growth3Performance1Health5Dividend0

Mixed10 of 30 checks passed

Oceaneering International passes 10 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
1/6
Growth
3/6
Past performance
1/6
Financial health
5/6
Dividend
0/6

What stands out

  • Return on capital over 10%

    Return on invested capital was 25.9%, above the 10% that usually covers the cost of capital.

  • Revenue growing 10%+ a year

    Revenue grew 10.5% a year over the last three fiscal years.

  • EPS growing 10%+ a year

    Diluted EPS grew 138% a year over the last three fiscal years.

  • Interest well covered

    Operating income covers interest expense 8.6 times.

What to watch

  • Margin of safety under 20%

    The price is 18.3% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $34.78 is above our fair value estimate of $29.40.

  • High debt

    Debt is 40.2% of shareholders' equity, above the 40% we consider low.

  • P/B above the industry

    Oceaneering International's price-to-book of 2.83 is above the Oil and Gas Field Services median of 1.33.

Valuation1/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA below its 5-year median

    Oceaneering International's EV/EBITDA of 7.8 is below its 5-year median of 8.8.

  • P/B above the industry

    Oceaneering International's price-to-book of 2.83 is above the Oil and Gas Field Services median of 1.33.

  • Trading above fair value

    The share price of $34.78 is above our fair value estimate of $29.40.

  • Margin of safety under 20%

    The price is 18.3% above fair value, so there is no margin of safety.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 10.5% a year over the last three fiscal years.

  • EPS growing 10%+ a year

    Diluted EPS grew 138% a year over the last three fiscal years.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 3.0% over the last twelve months; the Oil and Gas Field Services median is 4.6%.

  • Guidance raised

    Oceaneering International raised its Full-year 2026 Consolidated adjusted EBITDA outlook on Jul 22, 2026.

  • Gross margin slipping

    Gross margin was 19.9% over the last twelve months, against 20.4% a year earlier.

Past performance1/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on capital over 10%

    Return on invested capital was 25.9%, above the 10% that usually covers the cost of capital.

  • Return on equity against the industry

    Needs positive equity.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin against its history

    Needs five years of revenue and net income.

  • Net margin against the industry

    Needs revenue and net income.

Financial health5/6

  • High debt

    Debt is 40.2% of shareholders' equity, above the 40% we consider low.

  • Debt falling against equity

    Debt to equity fell from 146% five years ago to 40.2%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 77.4% of total debt.

  • Interest well covered

    Operating income covers interest expense 8.6 times.

  • Short-term assets cover short-term debts

    Current assets are 2.20 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 4.20; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Oceaneering International has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$29.40

The share price is 18% above this estimate.

20%+ below
Near fair value
20%+ above
$34.78Price$29.40Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA8.2×8.8×7.5×$36.3158%
P/B2.4×3.5×1.3×$29.9717%
Earnings power11.1% cost of equity––$12.8925%
Fair value$29.40100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • EV/EBITDA at month end
  • Own 5-year median 8.8
  • Oil and Gas Field Services median 7.5

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$40.40M
Value traded per 1% price move
$21.27M

Downside

Medium risk

Typical loss in a bad month
19.4%
Volatility (annualized)
50%
Sharpe ratio, 1 year
0.86
Beta to the S&P 500 (5Y)
1.22

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

20.4%+11.4 pts over 5 years

Operating margin

10.9%+35.3 pts over 5 years

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