Filing Flows › Oceaneering International (OII) › Q4 2025
Oceaneering International (OII) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Oceaneering International (OII) reported revenue of $669M for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -10% from the quarter before. Operating margin was 9.8%, net earnings $178M (26.6% of revenue).
Oceaneering International, Q4 2025: revenue $669M (-6% year over year), operating margin 9.8%, net earnings $178M, operating cash flow $221M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $669M | -10% | -6% |
| Gross profit | $132M | -13% | -7% |
| Operating profit | $65.4M | -24% | -16% |
| Net earnings | $178M | +149% | +217% |
| Operating cash flow | $221M | +118% | +72% |
| Free cash flow | $191M | +147% | +102% |
What changed
Revenue was $668.6M in Q4 2025, down 6% year over year and down 10% from the previous quarter.
Gross margin was 19.8%, down 0.1 points from a year earlier. Operating profit was $65.4M, a 9.8% margin (down 1.1 points year over year). Operating expenses grew 4% against a revenue fall of 6%. Net earnings were $177.7M, up 217% year over year. The tax line was a benefit of $119.5M on pre-tax earnings of $58.2M.
Operating cash flow was $221.1M (up 72% year over year), 124% of net earnings. Non-cash charges added back $26.3M of depreciation and amortization and $3.5M of share-based compensation. Working capital and other items added $13.7M. Capital expenditures of $30.4M left free cash flow of $190.7M.
Questions
What was Oceaneering International's revenue in the fourth quarter 2025?
Oceaneering International (OII) reported revenue of $669M for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -10% from the quarter before.
Was Oceaneering International profitable in the fourth quarter 2025?
Operating profit was $65.4M (9.8% of revenue) and net earnings $178M.