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Oceaneering International cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$142M in Q3 2026 · $288M over twelve months

Operating cash flow$163M
Capital spending−$21.1M
Free cash flow+$142M
Cash / net income3.1×
Cash conversion cycle55 days

Analysis

In Q3 2026, Oceaneering International generated $163M of operating cash flow and spent $21.1M on capital projects, leaving free cash flow of $142M. That is $64.9M more than in Q3 2025 ($77.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $380M; the largest uses were capital spending ($92.1M), buybacks ($25.1M), other financing ($21.5M); besides operations, cash came from other investing ($4.5M), asset & business sales ($896K); the cash balance rose by $237M.

Operating cash flow was $163M against net income of $52.6M — 3.1× profit, cash ran ahead of reported earnings. The largest differences: other liabilities +$58.4M, depreciation & amortization +$26.6M, inventory +$20.4M.

Its cash conversion cycle was 55 days (receivables 51 + inventory 28 − payables 24).

Free cash flow

Oceaneering International: free cash flow by quarterOceaneering International: free cash flow by quarter$94.5MQ4 2024−$107MQ1 2025$46.9MQ2 2025$77.0MQ3 2025$191MQ4 2025−$76.5MQ1 2026$32.0MQ2 2026$142MQ3 2026
Operating cash flow less capital spending.
Oceaneering International: operating cash flow against capital spendingOceaneering International: operating cash flow against capital spendingOperating cash flowCapital spending$128M$33.9MQ4 2024−$80.7M$26.1MQ1 2025$77.2M$30.3MQ2 2025$101M$24.2MQ3 2025$221M$30.4MQ4 2025−$59.1M$17.4MQ1 2026$55.2M$23.2MQ2 2026$163M$21.1MQ3 2026
Latest (Q3 2026): Operating cash flow $163M, Capital spending $21.1M.

Capital allocation, year by year

Oceaneering International: where the cash came from (up) and went (down), by fiscal yearOceaneering International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $225MFY2021: Net borrowing −$100MFY2021: Asset sales $7.1MFY2021: Capital spending −$50.2M$232MFY2021FY2022: Operating cash flow $121MFY2022: Asset sales $6.5MFY2022: Capital spending −$81.0M$127MFY2022FY2023: Operating cash flow $210MFY2023: Net borrowing −$222MFY2023: Asset sales $7.8MFY2023: Capital spending −$101M$218MFY2023FY2024: Operating cash flow $203MFY2024: Asset sales $217KFY2024: Capital spending −$107MFY2024: Acquisitions −$27.1MFY2024: Buybacks −$20.0M$203MFY2024FY2025: Operating cash flow $319MFY2025: Asset sales $8.9MFY2025: Capital spending −$111MFY2025: Buybacks −$40.3M$328MFY2025
Over these 5 years operating cash flow totalled $1.1B; the largest uses were capital spending ($450M) and net borrowing ($322M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$742M
Debt$487M
Net cash$255M

Oceaneering International funds itself: free cash flow was $288M over the last twelve months, and $742M of cash and investments stands against $487M of debt.

Where the cash came from and went

Oceaneering International: sources (+) and uses (−) of cash, Q3 2026Oceaneering International: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$163MCash drawn (+) / kept (−)−$114MOther financing−$21.5MCapital spending−$21.1MBuybacks−$5.0MExchange rates−$1.9MOther investing$496KTaxes on employees’ shares$29K
Oceaneering International: sources (+) and uses (−) of cash, TTM to Q3 2026Oceaneering International: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$380MCash drawn (+) / kept (−)−$237MCapital spending−$92.1MBuybacks−$25.1MOther financing−$21.5MTaxes on employees’ shares−$8.4MOther investing$4.5MExchange rates−$1.0MAsset & business sales$896K

From profit to cash

Oceaneering International: net income to operating cash flow, Q3 2026Oceaneering International: net income to operating cash flow, Q3 2026Net income$52.6MDepreciation & amortization$26.6MStock-based pay$5.3MDeferred taxes−$3.5MGains on disposals−$179KOther non-cash$55KReceivables−$19.1MInventory$20.4MPrepaid and other assets$6.3MOther liabilities$58.4MOperating cash flow$163M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202651282455
Q2 202647302452
Q1 202644332849
Q4 202549363056
Q3 202549352658
Q2 202550372759
Q1 202545372953
Q4 202444372952

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026$163M−$21.1M−$5.0M−$114M$142M
Q2 2026$55.2M−$23.2M−$10.1M−$22.0M$32.0M
Q1 2026−$59.1M−$17.4M—$81.4M−$76.5M
Q4 2025$221M−$30.4M−$10.1M−$183M$191M
Q3 2025$101M−$24.2M−$10.1M−$71.9M$77.0M
Q2 2025$77.2M−$30.3M−$10.1M−$52.1M$46.9M
Q1 2025−$80.7M−$26.1M−$10.0M$116M−$107M
Q4 2024$128M−$33.9M−$10.1M−$45.7M$94.5M

Oceaneering International: income statement and cash flow

Oceaneering International, Q3 2026: revenue $785M (+6% year over year), operating margin 11.7%. The chart follows the revenue to costs, profit and cash.

Oceaneering International: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.