Oceaneering International, Inc. (OII) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+34.2%

$52.89

vs $39.41 price

Levered DCF

$29.66

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.42

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	6.89×	17.86×	21.94×	67.27×	-23.08×	-1.59×	-4.24×	-5.6×
P/B	2.27×	3.69×	3.41×	3.37×	2.23×	1.43×	1.38×	0.84×
P/S	0.87×	0.99×	0.88×	0.85×	0.6×	0.43×	0.72×	0.62×
EV / EBITDA	5.25×	8.17×	8.36×	8.63×	8.5×	17.82×	-84.19×	11.16×
Gross margin	20.4%	18.2%	16.5%	14.9%	14.1%	9.0%	4.8%	6.8%
Operating margin	10.9%	9.3%	7.5%	5.4%	2.1%	-24.4%	-5.7%	-7.6%
Net margin	12.7%	5.5%	4.0%	1.3%	-2.6%	-27.2%	-17.0%	-11.1%
Current ratio	1.99×	1.74×	1.78×	2.28×	2.37×	2.68×	2.07×	2.52×
Debt / equity	0.46×	1.19×	1.35×	1.68×	1.74×	1.78×	0.91×	0.56×
Interest coverage	8.24×	6.49×	4.96×	2.9×	1.03×	-10.16×	-2.73×	-3.85×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	33.0%	20.6%	15.5%	5.0%	-9.8%	-90.0%	-32.6%	-15.0%
Return on invested capital	16.0%	9.7%	6.9%	2.5%	2.7%	-27.3%	-5.4%	-6.2%
Return on assets	13.3%	6.3%	4.4%	1.3%	-2.5%	-24.3%	-12.7%	-7.5%
Free cash flow yield	8.5%	3.6%	5.1%	2.3%	15.5%	9.6%	0.7%	-6.1%
Earnings yield	14.5%	5.6%	4.5%	1.5%	-4.4%	-63.0%	-23.6%	-17.8%
Enterprise value	$2.2B	$3B	$2.5B	$2.1B	$1.5B	$1.3B	$2.1B	$1.6B
Net debt / EBITDA	-0.47×	0.97×	1.28×	1.27×	1.97×	7.15×	-24.46×	2.97×
Cash conversion cycle (days)	0	86	95	93	91	114	120	138