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TickerOII
SectorOil & Gas Equipment & Services
Mkt cap$3.6B
EV / EBITDA9.5×
PostureHigh Velocity
Composite62/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 73756

Oceaneering International Inc.

OIIHIGH VELOCITYFILING INTENSITY

Oceaneering International Inc. reads as an High Velocity (composite 62/100); Consistent Strategic Buyer deploying $33M across 1 disclosed transactions, newly disclosed vs the prior cycle · primary market Energy Infrastructure.

Lens

Disclosed M&A capital (2023–2025)

$33M

new

vs N/A in 2020–2022

Disclosed transactions

1

new

1/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

62

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$2.8B
EBITDA$407M
Enterprise value$3.9B
EV / Revenue1.4×
EV / EBITDA9.5×
P/EN/A
Cash$607M
Total debt$489M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

34/100

Companies actively deploying disclosed capital into M&A

  • $637M disclosed buyer spend

Buyer Cadence

26/100

Buyer-side companies with recent filing activity

  • 339 8-Ks

Target Probability

2/100

Issuers showing target-side patterns from filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

Pressure Watch

12/100

Issuers facing activism, governance, or control pressure

Distress Watch

0/100

Issuers showing financial-distress filing patterns

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
62/100

Issuers with the highest filing-activity intensity

  • 339 8-Ks
  • 4 form types

Quiet Power

41/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $3.9B
  • 10-Q 79d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $68M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
20241$33M$33MN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Geographic Expansion
    20%
  • Horizontal Consolidation
    20%
  • Bolt On
    20%
  • Platform
    20%
  • Technology Acquisition
    20%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • geographic_expansion
  • horizontal_consolidation
  • bolt_on
  • platform
  • technology_acquisition
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

With our acquisitions of C & C Technologies, Inc. ("C&C") in 2015 and Ecosse Subsea Limited ("Ecosse") in 2018, further described below, we provide survey services and route clearance and trenching services.

10-KFY2018

General. We intend to continue our strategy of acquiring, as opportunities arise, additional assets or businesses, to improve our market position or expand into related service and product lines.

10-KFY2021

We intend to continue our strategy of acquiring, as opportunities arise, additional assets or businesses, to improve our market position or expand into related service and product lines.

10-KFY2025

This acquisition is a key step in Oceaneering’s strategy to advance its digital capabilities and broaden the solutions available to our global customers.

10-KFY2025
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Energy Infrastructure

Market spend (2023–2025)
$86.6B
Market spend (2020–2022)
$40.3B
Recent vs prior
+115%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

9.5×EV / EBITDA

OII trades at a -3.4-turn discount to the Energy Infrastructure peer median of 12.9×.

EV / Revenue
1.4×
Net debt / EBITDA
-0.3×
Peer median EV / EBITDA
12.9×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
19.9×11.8×9.3×$1.5B$1B
13.3×4.8×-0.3×$9.3B$3.7B
12.5×2.5×0.9×$35.9B$5.8B
Oceaneering International Inc.OII
9.5×1.4×-0.3×$2.8B$33M
7.0×2.7×-0.2×$58.3B$2.7B

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Energy Infrastructure. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)262026-02-20
  • 10-Q (quarterly)972026-04-23
  • 8-K (event)3392026-05-05
  • Proxy / DEF 14A362026-04-02
  • Activism (13D / DFAN / PREC)0N/A

Signals on file

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Oceaneering International Inc.: Issuer Brief | SE-Cluster