Oceaneering International vs Weatherford International
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The short version
- Weatherford International is the larger business, with $4.9B of revenue in fiscal 2025 against $2.8B for Oceaneering International, about 1.8 times as much.
- Oceaneering International grew revenue faster (4.6%, against −10.8%).
- Weatherford International kept more of each dollar of sales as operating profit (15.4% operating margin, against 10.9%).
- Weatherford International turned more of its sales into free cash flow (9.2% FCF margin, against 7.5%).
- Oceaneering International earned a higher return on the capital invested in it (38.9%, against 29.7%).
- Investors pay more for each dollar of Weatherford International’s earnings: a P/E of 15.5x against 12.0x for Oceaneering International.
| Latest fiscal year | OII · FY25 | WFRD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.0B | $6.3B |
| Revenue | $2.8B | $4.9B |
| Free cash flow | $208M | $450M |
| Net income | $354M | $431M |
| Growth | ||
| Revenue growth | 4.6% | −10.8% |
| 5-year growth | 8.8% | 5.9% |
| Share count change | −1.1% | −3.1% |
| Profitability | ||
| Gross margin | 20.4% | — |
| Operating margin | 10.9% | 15.4% |
| Net margin | 12.7% | 8.8% |
| FCF margin | 7.5% | 9.2% |
| Return on capital | 38.9% | 29.7% |
| Return on equity | 39.6% | 28.9% |
| Balance sheet | ||
| Net debt | −$209M | $498M |
| Net debt / EBITDA | −0.5x | 0.5x |
| Dividends and buybacks | $40.3M | $173M |
| Valuation & quality | ||
| P/E | 12.0x | 15.5x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
OII $2.3B
WFRD $5.7B
FY17
OII $1.9B
WFRD $5.7B
FY18
OII $1.9B
WFRD $5.7B
FY19
OII $2.0B
WFRD $5.0B
FY20
OII $1.8B
WFRD $3.7B
FY21
OII $1.9B
WFRD $3.6B
FY22
OII $2.1B
WFRD $4.3B
FY23
OII $2.4B
WFRD $5.1B
FY24
OII $2.7B
WFRD $5.5B
FY25
OII $2.8B
WFRD $4.9B
OII
WFRD
Operating margin
FY16
OII 3.1%
WFRD −39.1%
FY17
OII 0.6%
WFRD −38.1%
FY18
OII −7.6%
WFRD −36.3%
FY19
OII −14.2%
WFRD −23.9%
FY20
OII −24.4%
WFRD −40.3%
FY21
OII 2.1%
WFRD 3.2%
FY22
OII 5.4%
WFRD 9.5%
FY23
OII 7.5%
WFRD 16.0%
FY24
OII 9.3%
WFRD 17.0%
FY25
OII 10.9%
WFRD 15.4%
OII
WFRD
Free cash flow
FY16
OII $227M
WFRD −$508M
FY17
OII $42.8M
WFRD −$613M
FY18
OII −$72.9M
WFRD −$428M
FY19
OII $9.9M
WFRD −$997M
FY20
OII $76.0M
WFRD $56.0M
FY21
OII $175M
WFRD $237M
FY22
OII $39.8M
WFRD $217M
FY23
OII $109M
WFRD $623M
FY24
OII $96.1M
WFRD $493M
FY25
OII $208M
WFRD $450M
OII
WFRD
Return on capital
FY16
OII 2.1%
WFRD −17.8%
FY17
OII 0.4%
WFRD −22.7%
FY18
OII −5.9%
WFRD −33.3%
FY19
OII −13.7%
WFRD —
FY20
OII −29.4%
WFRD —
FY21
OII 4.0%
WFRD 4.2%
FY22
OII 8.4%
WFRD 10.8%
FY23
OII 16.9%
WFRD 39.0%
FY24
OII 24.0%
WFRD 36.3%
FY25
OII 38.9%
WFRD 29.7%
OII
WFRD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.