Oceaneering International Inc

Energy
Oilfield Services/Equipment
www.oceaneering.com

Earnings Score
Moat Score
Safety Score

Market Cap $2.74B
PE 20
Debt $480.71M
Cash $451.86M
EV $2.77B
FCF $120.35M

Earnings

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Sales & Net Margins

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Earnings	$135.90M
EBIT	$215.84M
ROE	19%
ROA	9%
FCF	$120.35M
Equity	$704.04M
Growth Stability	-151%
PE	20.19
PEG	2.29
PB	3.9
P/FCF	22.8
P/S	1.05
Price/Cash	0.16
Debt/Equity	0.68
Debt/FCF	3.99
Net Margins	5%
Gross Margins	17%
Op. Margins	8%
Earnings CAGR	-1%
Sales Growth YoY	7%
Sales Growth QoQ	2%
Sales CAGR	-1%
FCF CAGR	-7%
Equity CAGR	-14%
Earnings Stability	0.01
Earnings Growth YoY	38%
Earnings Growth QoQ	18%

Earnings CAGR 5Y	9%
Sales CAGR 5Y	6%
FCF CAGR 5Y	32%
Equity CAGR 5Y	-2%
Earnings CAGR 3Y	14%
Sales CAGR 3Y	14%
FCF CAGR 3Y	11%
Equity CAGR 3Y	14%
Market Cap	$2.74B
Revenue	$2.60B
Assets	$2.36B
Total Debt	$480.71M
Cash	$451.86M
Shares Outstanding	101.29M
EV	2.77B
Earnings Score	6%
Moat Score	88%
Safety Score	57%
Final Score	50%
Working Capital	610.96M
Current Ratio	1.76
Gross Profit	$449.19M
Shares Growth 3y	1%
Equity Growth QoQ	7%
Equity Growth YoY	23%

Assets & ROA

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Stockholders Equity & ROE

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Oceaneering International is a global provider of engineered services and products for the oil and gas industry. Most of Oceaneering's products are produced for the offshore oil and gas market. It had a 2020 segment realignment to promote synergies and cost-efficiency. The five segments are subsea robotics; manufactured products; offshore projects group; integrity management and digital solutions; and aerospace and defense technologies. Within the segments are two businesses - services and products provided primarily to the oil and gas industry. The firm is also involved in the offshore renewables and mobility solutions industries (energy services and products) and services and products provided to nonenergy industries (aerospace and defense technologies).

SEC Filings

Direct access to Oceaneering International Inc (OII) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Oceaneering International Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Oceaneering International Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -1%

Stability 1%

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Oceaneering International Inc Discounted Cash Flow

Fully customizable DCF calculator online for Oceaneering International Inc.

Years

Calculation mode

= $750M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$120M	$112M	$104M	$96M	$89M	$83M	$77M	$71M	$66M	$61M	$57M	$569M
DCF		$102M	$86M	$72M	$61M	$51M	$43M	$37M	$31M	$26M	$22M	$219M
Value	$750M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	12%	8%	1%	9%	-11%	-17%	-27%	-3%	1%	4%	5%
ROA	-	11%	2%	0%	-5%	-11%	-22%	2%	5%	8%	9%
ROE	-	15%	2%	10%	-15%	-32%	-89%	-10%	5%	15%	19%

Bad Net Margins (4.69%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.21	3.48	18.51	-10.79	80.58	10.6	4.01	17.59	4.37	3.99
Debt over Equity	0.45	0.5	0.52	0.48	0.56	0.74	1.44	1.37	1.33	0.75	0.68
Growth Stability	-	-	-	73%	-151%	-	-	-	-	-	-151%

Neutral Debt/FCF ratio (3.99)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.68)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-151%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-16%	-26%	-15%	-1%	7%	-11%	2%	11%	17%	6%
Earnings YoY growth	-	-46%	-89%	577%	-228%	64%	43%	-90%	-153%	275%	9%
Equity YoY growth	-	-5%	-4%	10%	-15%	-24%	-48%	-8%	3%	21%	-2%
FCF YoY growth	-	8%	-37%	-81%	-270%	-114%	668%	131%	-77%	174%	32%