OII
Oceaneering International, Inc.

Oceaneering International, Inc.OII

Energy · Oil & Gas Equipment & Services
34.24USD
+0.62%
Nov 08, 2026
OII overview ready
Operator of subsea robotics and intervention services for offshore energy
Oceaneering is a direct service-and-equipment enabler of offshore production activity: it operates work-class ROV fleets, provides survey and intervention support, supplies subsea hardware and umbilicals, executes installation projects, and provides integrity-management services.
Primary theme is lagging
Oil & Gas Equipment & Services is lagging (-6.5pp vs SPY over 21 sessions; 2 of 5 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Exposure to oil & gas industry cyclicality.
Market Nov 6Price action Nov 7Research Oct 23

Conviction Level

PriceAction3.4BusinessPerformance—BusinessQuality7.3Valuation7.8ThemeMomentum1.0This company's quarterly figures could not be reconciled to its filed statement totals, so no performance read is shown.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−6.5pp
Theme return
−11.5%
Beating SPY
2 of 5
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$3.4B
Avg Volume (60D)
1.0M
60 sessions
Revenue Growth YoY
+3.0%
Trailing twelve months
Gross Margin
+19.9%
Operating Margin
+10.4%
Trailing twelve months
Free Cash Flow Yield
+8.3%
Distance from 200DMA
-15.5%
P/E
10.4x
EV / EBITDA
8.4x
EV / Sales
1.2x
Market metrics as of Nov 7, 2026

Business Performance

Insufficient evidence

This company's quarterly figures could not be reconciled to its filed statement totals, so no performance read is shown.

Business Quality

7.3 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say cheap; own history is the dissenting view.
Oceaneering International, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

Company Research

Thesis
Oceaneering is a direct service-and-equipment enabler of offshore production activity: it operates work-class ROV fleets, provides survey and intervention support, supplies subsea hardware and umbilicals, executes installation projects, and provides integrity-management services.
Opportunity
Moderate opportunity
Offshore field-development, life-of-field maintenance, and intervention spending that requires subsea installation capability, remotely operated systems, umbilicals, inspection, and specialized marine execution.
Key risk
Exposure to oil & gas industry cyclicality.

Economic classification

Loading the economic classification…

Business & Markets

Energy · Oil & Gas Equipment & Services
What they do

Oceaneering International, Inc. provides engineered services, products, and robotic solutions primarily for offshore energy, defense, aerospace, and manufacturing industries across multiple global regions. It operates through five segments focused on subsea robotics, manufactured products, offshore projects, integrity management, and aerospace and defense technologies.

How it earns

The company generates revenue mainly through project-based contracts and transactional sales of equipment and services.

Products & services
Remotely operated vehicles (ROVs)
Subsea hardware and umbilicals
Survey and intervention support
Integrity management services
Aerospace and defense robotics
Customers & end markets
Offshore energy companies
Defense and aerospace organizations
Manufacturing industry clients
Market position

Oceaneering is a leader in providing subsea robotics and engineered services enabling offshore production activity.

Demand drivers
High cyclicality

The company’s business is closely tied to offshore energy capital expenditure cycles and oil & gas market conditions.