NYSE: OII · Oil & Gas Equipment & Services
Oceaneering International (OII) fair value: undervalued or overvalued?
As of 26 Sep 2026, Faircurve's model values Oceaneering International (OII) at $41.77 a share. The stock last closed at $44.32, which puts the model's fair value 5.8% below the price. On the model's bands that reads as Fairly valued.
Revalued . Price is the close of 2 Oct 2026. Oceaneering International, Inc.
Faircurve Insights · 26 Sep 2026
Headquartered in Houston, Texas, Oceaneering International, Inc., established in 1964, is a global provider of specialized engineering services, innovative products, and advanced robotic solutions.
On 26 Sep 2026, Faircurve's model gave a fair value of $41.77 a share, the midpoint of 2,000 simulations. The previous run, on 19 Sep 2026, gave $42.25; the fair value moved -1.1%. The model's calibrated range over 63 trading days, $35.04 to $50.93, held the price 60% of the time at this horizon. The evidence grade for this valuation is High.
The model scores the business at 62 out of 100 on overall quality against comparable companies. These comparable companies are Cactus, Inc. (WHD), Tidewater Inc. (TDW), Archrock, Inc. (AROC), Kodiak Gas Services, Inc. (KGS), Weatherford International plc (WFRD), Liberty Energy Inc. (LBRT), NOV Inc. (NOV), and Innovex International, Inc. (INVX). The stock has moved +7.5% around its 22 Jul 2026 earnings report and +0.5% around its 22 Apr 2026 report.
Written from the figures on this page for the 26 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give OII?
The calibrated range for OII over 63 trading days is $35.04 to $50.93. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,327 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $31.56 to $55.12. In 38% of the simulations the fair value came out above the price the model ran on.
How does OII score on business quality?
Oceaneering International's overall quality score is 62 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 95 | 21.8%ROIC | 10.9% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 9 | 0.64xFCF / net income | 1.31x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 50 | 4.6%Revenue growth, trailing | 3.4% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 70 | 0.4%Net buybacks / market value | 0.7% |
| Balance sheetNet debt to EBITDA and interest coverage. | 62 | 0.47xNet debt / EBITDA | 0.95x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 89 | 1.5 ptsEBITDA margin downside volatility, 5y | 5.6 pts |
How does OII compare with similar companies?
The companies in oil & gas equipment & services closest to Oceaneering International in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| WHD Cactus, Inc. | $63.44 | $63.89 | +0.7% | Fairly valued |
| TDW Tidewater Inc. | $82.42 | $83.54 | +1.4% | Fairly valued |
| AROC Archrock, Inc. | $30.33 | $28.27 | -6.8% | Fairly valued |
| KGS Kodiak Gas Services, Inc. | $54.33 | $54.08 | -0.5% | Fairly valued |
| WFRD Weatherford International plc | $79.72 | $104.42 | +31.0% | Undervalued |
| LBRT Liberty Energy Inc. | $19.31 | $18.48 | -4.3% | Fairly valued |
| NOV NOV Inc. | $18.80 | $18.98 | +1.0% | Fairly valued |
| INVX Innovex International, Inc. | $27.31 | $24.78 | -9.3% | Fairly valued |
All oil & gas equipment & services stocks ranked by gap to fair value
When does OII report earnings, and how has the stock reacted?
Oceaneering International's next earnings report is scheduled for 28 Oct 2026. Companies can move their dates.
How OII moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 6.8%.
| Report date | Two session move |
|---|---|
| 22 Jul 2026 | +7.5% |
| 22 Apr 2026 | +0.5% |
| 18 Feb 2026 | +11.8% |
| 22 Oct 2025 | +0.7% |
| 23 Jul 2025 | +13.3% |
| 23 Apr 2025 | +18.0% |
| 19 Feb 2025 | -6.0% |
| 23 Oct 2024 | +3.2% |
Oceaneering International at a glance
Headquartered in Houston, Texas, Oceaneering International, Inc., established in 1964, is a global provider of specialized engineering services, innovative products, and advanced robotic solutions.
- Market value
- $4.6B
- Sector
- Energy
- Industry
- Oil & Gas Equipment & Services
- Revenue expected, next twelve months
- $3.0B
- Consensus revenue growth, next fiscal year
- +6.0%
- Analysts with estimates
- 1
- Beta to the US market
- 1.10
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices Oceaneering International on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 19 Sep 2026 the model's fair value for OII was $42.25. As of 26 Sep 2026 it is $41.77, a change of -1.1%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Oceaneering International's valuation
Is Oceaneering International stock undervalued or overvalued?
On Faircurve's model, OII reads as Fairly valued as of 26 Sep 2026. The model's fair value is $41.77 a share against a last close of $44.32, a gap of -5.8%.
What is OII's fair value?
$41.77 a share as of 26 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $31.56 to $55.12.
What price range does the model give OII?
$35.04 to $50.93 over 63 trading days. Ranges built this way held the price 60% of the time across 4,327 past valuations, refreshed 26 Sep 2026.
When does Oceaneering International report earnings next?
The next report is scheduled for 28 Oct 2026. Companies can move their dates.
How much has OII moved on past earnings reports?
Across its last 8 reports the median two session move was 6.8%, ignoring direction. The largest was +18.0% around the report of 23 Apr 2025.
How confident is the model in this valuation?
The model's evidence grade for OII is high. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.