Oceaneering International vs RPC
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The short version
- Oceaneering International is the larger business, with $2.8B of revenue in fiscal 2025 against $1.6B for RPC, about 1.7 times as much.
- RPC grew revenue faster (15.0%, against 4.6%).
- Oceaneering International kept more of each dollar of sales as operating profit (10.9% operating margin, against 2.8%).
- Oceaneering International turned more of its sales into free cash flow (7.5% FCF margin, against 3.3%).
- Investors pay more for each dollar of RPC’s earnings: a P/E of 62.5x against 12.0x for Oceaneering International.
| Latest fiscal year | OII · FY25 | RES · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.0B | $1.3B |
| Revenue | $2.8B | $1.6B |
| Free cash flow | $208M | $52.9M |
| Net income | $354M | $32.1M |
| Growth | ||
| Revenue growth | 4.6% | 15.0% |
| 5-year growth | 8.8% | 22.1% |
| Share count change | −1.1% | 0.4% |
| Profitability | ||
| Gross margin | 20.4% | 24.2% |
| Operating margin | 10.9% | 2.8% |
| Net margin | 12.7% | 2.0% |
| FCF margin | 7.5% | 3.3% |
| Return on capital | 38.9% | — |
| Return on equity | 39.6% | 3.0% |
| Balance sheet | ||
| Net debt | −$209M | −$158M |
| Net debt / EBITDA | −0.5x | −0.8x |
| Dividends and buybacks | $40.3M | $38.0M |
| Valuation & quality | ||
| P/E | 12.0x | 62.5x |
| Piotroski F-score | 8 | — |
Revenue
FY16
OII $2.3B
RES $729M
FY17
OII $1.9B
RES $1.6B
FY18
OII $1.9B
RES $1.7B
FY19
OII $2.0B
RES $1.2B
FY20
OII $1.8B
RES $598M
FY21
OII $1.9B
RES $865M
FY22
OII $2.1B
RES $1.6B
FY23
OII $2.4B
RES $1.6B
FY24
OII $2.7B
RES $1.4B
FY25
OII $2.8B
RES $1.6B
OII
RES
Operating margin
FY16
OII 3.1%
RES −32.8%
FY17
OII 0.6%
RES 14.2%
FY18
OII −7.6%
RES 12.2%
FY19
OII −14.2%
RES −9.4%
FY20
OII −24.4%
RES −51.8%
FY21
OII 2.1%
RES 1.9%
FY22
OII 5.4%
RES 18.0%
FY23
OII 7.5%
RES 15.1%
FY24
OII 9.3%
RES 6.9%
FY25
OII 10.9%
RES 2.8%
OII
RES
Free cash flow
FY16
OII $227M
RES $67.8M
FY17
OII $42.8M
RES $16.2M
FY18
OII −$72.9M
RES $146M
FY19
OII $9.9M
RES −$41.5M
FY20
OII $76.0M
RES $12.9M
FY21
OII $175M
RES −$19.9M
FY22
OII $39.8M
RES $61.7M
FY23
OII $109M
RES $214M
FY24
OII $96.1M
RES $129M
FY25
OII $208M
RES $52.9M
OII
RES
Return on capital
FY16
OII 2.1%
RES —
FY17
OII 0.4%
RES —
FY18
OII −5.9%
RES —
FY19
OII −13.7%
RES —
FY20
OII −29.4%
RES —
FY21
OII 4.0%
RES —
FY22
OII 8.4%
RES —
FY23
OII 16.9%
RES —
FY24
OII 24.0%
RES —
FY25
OII 38.9%
RES —
OII
RES
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.