Oceaneering International Inc
oceaneering.comWhat Do They Do?
Provides underwater services and robotic solutions, subsea equipment, and engineering and manufacturing services to offshore energy, government, and industrial customers.
10-K for FY2025, filed Feb 20, 2026Oceaneering International, Inc. (“Oceaneering,” “we,” “us” or “our”) is a global technology company delivering engineered services and…View ↗
We operate in five business segments. Our segments are contained within two businesses—services and products provided primarily to the oil…View ↗
Subsea Robotics. Our Subsea Robotics segment consists of our work-class remotely operated vehicles (“ROVs”), survey services and ROV…View ↗
Manufactured Products. Our Manufactured Products segment provides distribution systems, such as production control umbilicals and…View ↗
Aerospace and Defense Technologies. Our ADTech segment provides services and products, including engineering and related manufacturing in…View ↗
How Do They Make Money?
Energy customers pay dayrates for each day equipment is used, with invoices billed periodically. Product sales are generally fixed-price; some long-term product contracts are carried out over the life of the work.
10-K for FY2025, filed Feb 20, 2026In connection with the services we perform in our Energy business, we generally seek contracts that compensate us on a dayrate basis. Under…View ↗
Revenue Recognition. All of our revenue is realized through contracts with customers. We recognize our revenue according to the contract…View ↗
We account for significant fixed-price contracts, primarily within our Manufactured Products segment, and to a lesser extent in our…View ↗
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10-K for FY2025, filed Feb 20, 2026
FY2025 revenue by product or service ↗
$2.8B
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10-K for FY2025, filed Feb 20, 2026
$2.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service
Usage-based
10-K for FY2025, filed Feb 20, 2026 |
79%
FY2022: 81%
|
Service, FY2025
$2.2B Sources
|
Usage-based |
|
Product
|
21%
FY2022: 19%
|
Product, FY2025
$576M Sources
|
Who Are Their Customers?
Energy companies buy offshore services and products directly or through oilfield service companies acting as prime contractors. Government agencies and prime contractors buy defense and space work; industrial, manufacturing, healthcare and warehousing customers buy mobile robotics solutions.
10-K for FY2025, filed Feb 20, 2026
10-K for FY2025, filed Feb 20, 2026
Revenue. For the year ended December 31, 2025, revenue from one customer, the U.S. Government, which is served primarily by our ADTech…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 7 cents into free cash flow.
10-K for FY2025, filed Feb 20, 2026
$304.6MView ↗
10-K for FY2025, filed Feb 20, 2026
$353.8MView ↗
10-K for FY2025, filed Feb 20, 2026
$207.8MView ↗
How Are They Changing?
Growing. Revenue grew 49% in 4 years, from $1.9B in FY2021 to $2.8B in FY2025, about 10% a year.
Broader digital services
The acquisition of GDi adds asset management, engineering and software services to the digital offering, extending it beyond the older report's energy and maritime software solutions.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 20, 2026Integrity Management & Digital Solutions. We offer a wide range of asset integrity services to customers worldwide to help ensure the…View ↗
Integrity Management & Digital Solutions. We offer a wide range of asset integrity services to customers worldwide to help ensure the…View ↗
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