Stock

Oceaneering International

OII

Oil & Gas Equipment & Services · Energy

Also trades as: 0KAN.L GBP 0.39 (+6.40%)

Price

$39.27

+2.65 (+7.24%)

Market Cap

$3.91B

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Oct 25, 2026 · filings through Sep 30, 2026

§How the score breaks down

Quality

Mixed

13/30

Growth

Good

11/20

Cash Flow

Strong

8/10

Stability

Strong

7/10

Valuation

Good

5/10

Ownership

Mixed

4/15

Dividends

Not counted

n/a

48 of 95 counted points = Winston Score 51. Pillars marked n/a do not apply to this company and are left out of the total.

Track this stock — start free trial

Share count rising — dilution

+1.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 99.7M (2021) → 101.3M (2025)

§Winston Score History

The full picture

Oceaneering International is a company that builds and operates underwater robots and equipment used in the oil and gas industry. Its main products include remotely operated vehicles (ROVs), which are underwater machines that inspect and repair pipelines and drilling equipment on the ocean floor. Energy companies like BP, Shell, and Chevron are its core customers, and Oceaneering is one of the largest providers of ROV services in the world.

The company earns money by renting out its ROVs and providing specialized engineering services under contracts with offshore energy producers. It operates globally, with a strong presence in the Gulf of Mexico, North Sea, and offshore West Africa. Oceaneering has also been expanding into non-energy markets like aerospace and defense, which helps reduce its dependence on oil prices — but its financial results still move closely with offshore drilling activity, meaning a slowdown in deepwater exploration remains its biggest risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+5.6% YoY

YoY Growth Rate

Slow revenue growth

Reported EPS Growth

-26.8% YoY

Quarterly reporting periods ended:

30 Sept 2025: $0.71

30 Sept 2026: $0.52

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

1.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$735M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Oceaneering International is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

21.0%

Thin — 21.0% gross margin

Profit after running costs

Operating Margin

11.7%

Modest — 11.7% operating margin

Return on the money invested

ROCE

17.7%

Strong — 17.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+3.0%

Nearly flat sales (+3.0% YoY)

Profit growth

EPS YoY

+287.1%

Earnings growing fast (+287.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

115%

Turns 115% of profit into real cash

Spare cash per sale

FCF Margin

9.9%

Modest free cash flow (9.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.40

Conservative — low debt load (0.40)

Covers its interest

Interest Cover

6.94x

Adequate interest coverage (6.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

11.9x

Attractive valuation — P/E 11.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-5.0

SLOWING

Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial