OII · Oceaneering International Inc
$52.20
+0.85 (+1.66%)
At close · Aug 14
View the 10-K filed Feb 20, 2026
Customer concentration
— top 5 customers 31% of revenue
5 customers — 31% of revenue (2025)
“Our top five customers in 2025, 2024 and 2023 accounted for 31%, 31% and 36%, respectively, of our consolidated revenue.”
One customer — 12% of revenue (the year ended December 31, 2025)
“For the year ended December 31, 2025, revenue from one customer, the U.S. Government, accounted for 12% of our total consolidated annual revenue, and no other customer accounted for more than 10% of our total consolidated revenue.”
5 customers — 31% of revenue (2024)
“Our top five customers in 2025, 2024 and 2023 accounted for 31%, 31% and 36%, respectively, of our consolidated revenue.”
5 customers — 36% of revenue (2023)
“Our top five customers in 2025, 2024 and 2023 accounted for 31%, 31% and 36%, respectively, of our consolidated revenue.”
One customer — 10% of revenue (the year ended December 31, 2023)
“For the year ended December 31, 2023, revenue from one customer, the U.S. Government, accounted for 10% of our total consolidated annual revenue, and no other customer accounted for more than 10% of our total consolidated revenue.”
Market Cap
$5.20B
Shares
99.53M
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$2.78B
+4.6%
FY2025
Net Income
$353.76M
+139.9%
FY2025
Gross Margin
20.42%
+2.2pp
FY2025
Operating Margin
10.94%
+1.7pp
FY2025
Diluted EPS
$3.49
+142.4%
FY2025
Operating Cash Flow
$318.86M
+56.9%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $2.87B | $2.78B | $2.66B | $2.42B | $2.07B | $1.87B | $1.83B | $2.05B | $1.91B | $1.92B | $2.27B | $3.06B | $3.66B | $3.29B | $2.78B | $2.19B | $1.92B | $1.82B | $1.98B | |
| $2.3B | $2.22B | $2.18B | $2.03B | $1.76B | $1.61B | $1.66B | $1.95B | $1.78B | $1.73B | $1.99B | $2.46B | $2.8B | $2.52B | $2.15B | $1.68B | $1.45B | $1.38B | $1.51B | |
| $569.26M | $568.44M | $485.49M | $398.97M | $307.38M | $264.07M | $163.94M | $98.24M | $129.23M | $194.61M | $279.23M | $605.43M | $859.2M | $765.54M | $627.86M | $508.76M | $466.32M | $437.73M | $464.8M | |
| — | 20.42% | 18.24% | 16.45% | 14.88% | 14.13% | 8.97% | 4.8% | 6.77% | 10.13% | 12.29% | 19.77% | 23.48% | 23.29% | 22.56% | 23.2% | 24.32% | 24.02% | 23.51% | |
| $271.34M | $263.89M | $239.22M | $217.64M | $196.51M | $224.27M | $195.7M | $214.89M | $198.26M | $183.95M | $208.46M | $231.62M | $230.87M | $220.42M | $199.26M | $173.93M | $156.82M | $145.61M | $147.24M | |
| $16.5M | $16M | $14M | $6.4M | $7.5M | $3.8M | $15M | $36M | $18M | $10M | $10.2M | $7.8M | $6.6M | $5.2M | — | — | — | — | — | |
| $107.01M | $102.26M | $103.44M | $104.96M | $120.97M | $139.72M | $528.9M | $263.43M | $293.59M | $213.52M | $250.25M | $241.24M | $229.78M | $202.23M | $176.48M | $151.23M | $153.65M | $122.95M | $115.03M | |
| — | — | — | — | — | — | — | — | — | — | $11.6M | — | — | — | — | — | — | — | — | |
| $297.92M | $304.55M | $246.27M | $181.33M | $110.86M | $39.8M | -$446.08M | -$290.71M | -$145.48M | $10.66M | $70.76M | $373.81M | $628.33M | $545.12M | $428.6M | $334.83M | $309.5M | $292.12M | $317.56M | |
| — | 10.94% | 9.25% | 7.48% | 5.37% | 2.13% | -24.4% | -14.19% | -7.62% | 0.55% | 3.12% | 12.21% | 17.17% | 16.58% | 15.4% | 15.27% | 16.14% | 16.03% | 16.06% | |
| $404.92M | $406.81M | $349.71M | $286.29M | $231.83M | $179.52M | $82.82M | -$27.29M | $148.11M | $224.18M | $321.01M | $615.05M | $858.11M | $747.34M | $605.08M | $486.06M | $463.15M | $415.06M | $432.59M | |
| $35.99M | $36.98M | $37.92M | $36.52M | $38.22M | $38.81M | $43.9M | $42.71M | $37.74M | $27.82M | $25.32M | $25.05M | $4.71M | $2.19M | $4.22M | $1.1M | $6.01M | $7.78M | $13.49M | |
| $17.79M | $14.48M | $12.12M | $15.43M | $5.71M | $2.48M | $3.08M | $7.89M | $9.96M | $7.36M | $3.9M | $607K | $293K | $554K | $1.94M | $888K | $580K | $694K | $907K | |
| — | — | — | — | — | — | — | -$6.62M | -$8.79M | -$6.06M | -$6.24M | -$15.34M | -$387K | -$1.27M | -$6.07M | -$539K | -$926K | $1.5M | $321K | |
| $1.86M | $1.05M | $929K | $2.06M | $1.71M | $594K | $2.27M | $1.33M | -$3.78M | -$1.98M | $244K | $2.23M | -$51K | $133K | $1.67M | $3.8M | $2.08M | $3.24M | $1.92M | |
| -$69.62M | -$67.86M | $77.45M | $63.65M | $53.11M | $43.6M | -$2.15M | $17.62M | $26.49M | -$184.24M | $18.76M | $105.25M | $195.15M | $170.84M | $132.91M | $102.23M | $104.69M | $101.42M | $107.83M | |
| $350.06M | $353.76M | $147.47M | $97.4M | $25.94M | -$49.31M | -$496.75M | -$348.44M | -$212.33M | $166.4M | $24.59M | $231.01M | $428.33M | $371.5M | $289.02M | $235.66M | $200.53M | $188.35M | $199.39M | |
| — | 12.71% | 5.54% | 4.02% | 1.26% | -2.64% | -27.18% | -17.01% | -11.12% | 8.66% | 1.08% | 7.54% | 11.7% | 11.3% | 10.39% | 10.75% | 10.46% | 10.34% | 10.08% | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | $289.02M | $235.66M | $199.82M | $187.03M | — | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $205.14M | $243.5M | $90.82M | |
| USD/shares | — | $3.53 | $1.46 | $0.97 | $0.26 | -$0.49 | -$5.01 | -$3.52 | -$2.16 | $1.69 | $0.25 | $2.35 | $4.02 | $3.43 | $2.68 | $2.18 | $1.83 | $1.71 | $3.59 |
| USD/shares | — | $3.49 | $1.44 | $0.95 | $0.26 | -$0.49 | -$5.01 | -$3.52 | -$2.16 | $1.68 | $0.25 | $2.34 | $4.00 | $3.42 | $2.66 | $2.16 | $1.82 | $1.70 | $3.56 |
| shares | — | 100.22M | 101.18M | 100.7M | 100.19M | 99.71M | 99.23M | 98.88M | 98.5M | 98.24M | 98.04M | 98.42M | 106.59M | 108.16M | 108.02M | 108.31M | 109.12M | 109.53M | — |
| shares | — | 101.26M | 102.37M | 102.16M | 101.45M | 99.71M | 99.23M | 98.88M | 98.5M | 98.76M | 98.42M | 98.81M | 107.09M | 108.73M | 108.62M | 109M | 109.54M | 110.05M | — |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $892.46M in buybacks, $44.22M in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
1.74×
Peer median 2.08×
EV/EBIT
16.74×
Peer median 20.46×
P/E (TTM)
15.04×
Peer median 28.56×
Peer medians compare against the 30 similar-size Oil & Gas Equipment & Services companies (of 46 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Subsea Robotics | $855,216,000 | $829,822,000 | $752,521,000 | $621,921,000 | $538,515,000 | $493,332,000 | $583,652,000 | $513,701,000 |
| Offshore Projects Group | $616,045,000 | $591,037,000 | $546,366,000 | $489,317,000 | $378,121,000 | $289,127,000 | $380,966,000 | $413,598,000 |
| Manufactured Products | $568,971,000 | $555,500,000 | $493,692,000 | $382,361,000 | $344,251,000 | $477,419,000 | $498,350,000 | $431,459,000 |
| Aerospace and Defense Technologies | $459,904,000 | $392,936,000 | $376,845,000 | $342,601,000 | $366,995,000 | $341,073,000 | $319,070,000 | $277,149,000 |
| Integrity Management Digital Solutions | $284,020,000 | $291,866,000 | $255,282,000 | $229,884,000 | $241,393,000 | $226,938,000 | $266,086,000 | $273,575,000 |
| Advanced Technologies | — | — | — | — | — | — | $425,535,000 | $416,632,000 |
| Inspection | — | — | — | — | — | — | $242,954,000 | $253,886,000 |
| Rovs | — | — | — | — | — | — | $449,830,000 | $394,801,000 |
| Subsea Products | — | — | — | — | — | — | $602,249,000 | $515,000,000 |
| Subsea Projects | — | — | — | — | — | — | $327,556,000 | $329,163,000 |
By Geography (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Non Us | $1,540,711,000 | $1,533,356,000 | $1,394,325,000 | $1,087,272,000 | $1,057,732,000 | $967,027,000 | $1,126,799,000 | $103,548,000 |
| United States | $1,243,445,000 | $1,127,805,000 | $1,030,381,000 | $978,812,000 | $811,543,000 | $860,862,000 | $921,325,000 | $949,185,000 |
| Africa | $417,615,000 | $434,536,000 | $331,891,000 | $286,687,000 | $273,095,000 | $198,505,000 | $292,818,000 | $239,959,000 |
| United Kingdom | $289,575,000 | $291,464,000 | $205,886,000 | $177,234,000 | $181,453,000 | $241,168,000 | $256,348,000 | $203,391,000 |
| Asia Pacific | $259,201,000 | $233,134,000 | $274,160,000 | $206,564,000 | $184,659,000 | $149,798,000 | $174,769,000 | $163,843,000 |
| Brazil | $248,064,000 | $229,534,000 | $202,892,000 | $139,859,000 | $111,198,000 | $84,636,000 | $93,511,000 | $64,004,000 |
| Norway | $228,445,000 | $210,582,000 | $189,802,000 | $180,186,000 | $214,306,000 | $202,379,000 | $217,762,000 | $185,552,000 |
| Other Geographical Member | $97,811,000 | $134,106,000 | $189,694,000 | $96,742,000 | $93,021,000 | $90,541,000 | $91,591,000 | — |
| Segment Geographical Groups of Countries Group Three | — | — | — | — | — | — | $91,591,000 | $103,548,000 |
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Service | $2,208,190,000 | $2,098,501,000 | $1,920,348,000 | $1,673,024,000 | $1,503,745,000 | $1,340,033,000 | $1,333,787,000 | $1,245,927,000 |
| Product | $575,966,000 | $562,660,000 | $504,358,000 | $393,060,000 | $365,530,000 | $487,856,000 | $714,337,000 | $663,555,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Subsea Robotics | $257,107,000 | $235,211,000 | $174,293,000 | $118,248,000 | $76,874,000 | -$65,817,000 | $11,627,000 | -$46,572,000 |
| Offshore Projects Group | $96,058,000 | $73,699,000 | $64,546,000 | $49,256,000 | $31,197,000 | -$105,680,000 | -$170,013,000 | -$36,909,000 |
| Manufactured Products | $72,460,000 | $43,000,000 | $35,551,000 | $11,692,000 | -$15,876,000 | -$88,253,000 | $5,730,000 | $14,028,000 |
| Aerospace and Defense Technologies | $57,744,000 | $42,201,000 | $45,003,000 | $44,168,000 | $60,992,000 | $56,023,000 | $42,574,000 | $32,734,000 |
| Integrity Management Digital Solutions | $10,741,000 | $9,827,000 | $13,373,000 | $14,901,000 | $18,572,000 | -$121,675,000 | -$52,527,000 | $546,000 |
| Unallocated Expenses Member | -$189,558,000 | -$157,668,000 | -$151,438,000 | -$127,402,000 | -$131,960,000 | -$120,677,000 | -$128,104,000 | -$109,309,000 |
| Advanced Technologies | — | — | — | — | — | — | $25,068,000 | $33,920,000 |
| Energy Services and Products | — | — | — | — | — | -$381,425,000 | -$205,183,000 | — |
| Inspection | — | — | — | — | — | — | -$53,387,000 | $8,660,000 |
| Rovs | — | — | — | — | — | — | $1,591,000 | $1,641,000 |
| Subsea Products | — | — | — | — | — | — | $9,831,000 | $5,614,000 |
| Subsea Projects | — | — | — | — | — | — | -$145,712,000 | -$86,008,000 |
| Unallocated Expenses | — | — | — | — | — | — | -$128,104,000 | -$109,309,000 |
| Oil And Gas | — | — | — | — | — | -$381,425,000 | -$205,183,000 | -$68,907,000 |
Operating Margin by Segment (%)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Subsea Robotics | 30.1% | 28.3% | 23.2% | 19% | 14.3% | -13.3% | 2% | -9.1% |
| Offshore Projects Group | 15.6% | 12.5% | 11.8% | 10.1% | 8.3% | -36.6% | -44.6% | -8.9% |
| Manufactured Products | 12.7% | 7.7% | 7.2% | 3.1% | -4.6% | -18.5% | 1.1% | 3.3% |
| Aerospace and Defense Technologies | 12.6% | 10.7% | 11.9% | 12.9% | 16.6% | 16.4% | 13.3% | 11.8% |
| Integrity Management Digital Solutions | 3.8% | 3.4% | 5.2% | 6.5% | 7.7% | -53.6% | -19.7% | 0.2% |
| Advanced Technologies | — | — | — | — | — | — | 5.9% | 8.1% |
| Inspection | — | — | — | — | — | — | -22% | 3.4% |
| Rovs | — | — | — | — | — | — | 0.4% | 0.4% |
| Subsea Products | — | — | — | — | — | — | 1.6% | 1.1% |
| Subsea Projects | — | — | — | — | — | — | -44.5% | -26.1% |
Key facts
CIK
73756
CUSIP
675232102
13F (30d)
349 filings
347 filers
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