OII · Oceaneering International Inc
Key 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.”
Key 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.”
Key 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.”
Price & Indicators
Up next
Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Jul 23, 2026TL;DR. Oceaneering reported Q2 2026 consolidated adjusted EBITDA of $115 million, exceeding the top end of guidance, with all segments growing except IMDS (hit by Middle East/Africa softness), and raised full-year consolidated adjusted EBITDA guidance to $400–$440 million while refinancing its 2028 senior notes and expanding its revolver.
- + Q2 adjusted EBITDA of $115 million exceeded the top end of guidance.
- + Full-year 2026 consolidated adjusted EBITDA guidance raised to $400–$440 million.
- + Offshore Projects Group operating income up 39% to $30.0 million on a 22% revenue gain with margin improving to 16%.
- + Manufactured Products operating income rose to $21.9 million with margin expanding to 15% on improved umbilicals and mobility solutions.
- + Subsea Robotics revenue rose to $232 million with operating income up 3% to $66.3 million on higher ROV day rates and increased survey activity.
- + Refinancing extended debt maturities via $500 million of 6.875% senior notes due 2034 and expanded revolver from $215 million to $345 million maturing July 2031, ending the quarter with $629 million cash and no borrowings.
- − ADTech operating income margin declined to 12% (from 15%) on program cost mix and timing despite 22% revenue growth.
- − ROV utilization slipped to 66% from 67%, with U.S. Gulf activity lower, partially offsetting gains in Europe and Africa.
- − Manufactured Products backlog declined to $445 million with a trailing 12-month book-to-bill of 0.88, and management cites ongoing Middle East uncertainty for IMDS.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Backlog at End of Period | $445M | Three Months Ended June 30, 2026 filing | — |
| Fleet size (work-class ROVs) | 250 | Three Months Ended Jun 30, 2026 filing | — |
| ROV Days Available | 22,750 | Three Months Ended June 30, 2026 filing | — |
| ROV Days Utilized | 14,930 | Three Months Ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Equipment & Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
OII
this stock
Oceaneering International Inc
|
$4.60B | +81.6% | +4.6% | 13.3 | 7.6% |
|
SLB
Slb Limited/Nv
|
$76.49B | +26.9% | +9.5% | 25.1 | 4.1% |
|
BKR
Baker Hughes Co
|
$55.51B | +20.6% | -0.3% | — | 2.5% |
|
TS
Tenaris SA
|
$28.00B | +43.5% | — | — | 0.8% |
|
FTI
TechnipFMC plc
|
$27.84B | +52.4% | +9.4% | 24.7 | 3.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| OII | -5.6% | -15.0% | +19.7% | -15.7% | +81.6% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -5.0% | -15.1% | +7.5% | -15.1% | +69.7% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.