Oceaneering International (OII) financial statements
Oceaneering International reported revenue of $2.8B in fiscal 2025, up 2.3% a year over 9 years.
Net income was $354M and the operating margin 10.9%, against 3.1% in 2016.
Free cash flow was $208M, and the company returned $40M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Oceaneering International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B | $1.9B | $1.9B | $2.0B | $1.8B | $1.9B | $2.1B | $2.4B | $2.7B | $2.8B |
| Cost of revenue | $2.0B | $1.7B | $1.8B | $1.9B | $1.7B | $1.6B | $1.8B | $2.0B | $2.2B | $2.2B |
| Gross profit | $279M | $195M | $129M | $98M | $164M | $264M | $307M | $399M | $485M | $568M |
| Selling, general and admin | $208M | $184M | $198M | $215M | $196M | $224M | $197M | $218M | $239M | $264M |
| Operating income | $71M | $11M | -$145M | -$291M | -$446M | $40M | $111M | $181M | $246M | $305M |
| Interest expense | $25M | $28M | $38M | $43M | $44M | $39M | $38M | $37M | $38M | $37M |
| Pre-tax income | -$180M | -$93M | -$132M | -$272M | -$306M | -$125M | -$50M | -$62M | -$9M | $42M |
| Income tax | $19M | -$184M | $26M | $18M | -$2M | $44M | $53M | $64M | $77M | -$68M |
| Net income | $25M | $166M | -$212M | -$348M | -$497M | -$49M | $26M | $97M | $147M | $354M |
| EPS (diluted) | $0.25 | $1.68 | -$2.16 | -$3.52 | -$5.01 | -$0.49 | $0.26 | $0.95 | $1.44 | $3.49 |
| Diluted shares | 98M | 99M | 98M | 99M | 99M | 100M | 101M | 102M | 102M | 101M |
| Gross margin | 12.3% | 10.1% | 6.8% | 4.8% | 9.0% | 14.1% | 14.9% | 16.5% | 18.2% | 20.4% |
| Operating margin | 3.1% | 0.6% | -7.6% | -14.2% | -24.4% | 2.1% | 5.4% | 7.5% | 9.3% | 10.9% |
| Net margin | 1.1% | 8.7% | -11.1% | -17.0% | -27.2% | -2.6% | 1.3% | 4.0% | 5.5% | 12.7% |
Balance sheet
Fiscal years, from Oceaneering International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $450M | $430M | $364M | $384M | $462M | $545M | $575M | $462M | $505M | $696M |
| Receivables | $490M | $477M | $369M | $421M | $296M | $263M | $297M | $331M | $304M | $308M |
| Inventory | $280M | $215M | $195M | $175M | $141M | $154M | $184M | $210M | $223M | $202M |
| Total current assets | $1.3B | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B | $1.3B | $1.3B | $1.4B | $1.5B |
| Property, plant and equipment | $1.2B | $1.1B | $965M | $777M | $591M | $490M | $438M | $424M | $420M | $452M |
| Goodwill | $444M | $456M | $413M | $405M | $35M | $35M | $34M | $34M | $49M | $51M |
| Total assets | $3.1B | $3.0B | $2.8B | $2.7B | $2.0B | $2.0B | $2.0B | $2.2B | $2.3B | $2.7B |
| Total current liabilities | $508M | $436M | $495M | $601M | $437M | $501M | $568M | $732M | $797M | $762M |
| Long-term debt | $793M | $792M | $787M | $797M | $805M | $702M | $701M | $477M | $482M | $487M |
| Total liabilities | $1.6B | $1.4B | $1.4B | $1.7B | $1.5B | $1.5B | $1.5B | $1.6B | $1.6B | $1.6B |
| Shareholders' equity | $1.5B | $1.7B | $1.4B | $1.1B | $552M | $505M | $520M | $628M | $714M | $1.1B |
| Net debt | $343M | $362M | $432M | $423M | $353M | $164M | $132M | $15M | -$16M | -$201M |
Cash flow
Fiscal years, from Oceaneering International's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $339M | $136M | $37M | $158M | $137M | $225M | $121M | $210M | $203M | $319M |
| Capital spending | $112M | $94M | $109M | $148M | $61M | $50M | $81M | $101M | $107M | $111M |
| Free cash flow | $227M | $43M | -$73M | $10M | $76M | $175M | $40M | $109M | $96M | $208M |
| Stock-based compensation | $15M | $12M | $12M | $11M | $9M | $11M | $10M | $12M | $13M | $15M |
| Dividends paid | — | $44M | $0 | $0 | — | — | — | — | — | — |
| Share buybacks (net) | $0 | $0 | — | — | — | — | — | — | -$20M | -$40M |
| Net borrowing | $0 | $0 | -$4M | $0 | $0 | — | — | — | — | — |
| Free cash flow margin | 10.0% | 2.2% | -3.8% | 0.5% | 4.2% | 9.4% | 1.9% | 4.5% | 3.6% | 7.5% |
| Dividends per share | — | $0.45 | — | — | — | — | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for OII.
Open OII in InvestinglyQuestions
What was Oceaneering International's revenue in 2025?
$2.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Oceaneering International generate?
$208M in fiscal 2025 (operating cash flow minus capital spending).
From Oceaneering International's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.