Oceaneering International Inc (OII)

Activity ratios

Short-term

Turnover ratios

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Inventory turnover 9.66 9.24 8.94 9.20 9.54 10.13 9.71 10.01 10.45 12.39 12.39 11.90 11.78 12.56 11.87 11.86 11.16 9.21 8.97 9.11
Receivables turnover 7.32 5.89 6.04 6.79 6.97 5.19 5.53 6.19 7.11 6.23 5.39 6.08 6.17 5.92 5.73 5.61 4.86 5.27 5.36 5.21
Payables turnover 12.98 12.42 12.35 12.73 11.88 12.51 12.68 15.04 13.12 16.32 14.98 16.81 17.66 19.34 21.30 15.80 13.36 18.01 17.63 16.55
Working capital turnover 4.23 3.50 2.93 2.95 2.84 2.84 2.82 2.77 2.72 2.49 2.40 2.32 2.49 2.83 2.98 3.14 3.18 3.02 2.85 2.76

Oceaneering International, Inc.'s activity ratios indicate the efficiency of the company in managing its operating assets and liabilities during the quarters outlined.

The inventory turnover ratio has been relatively stable, ranging from 8.94 to 10.13, indicating that the company efficiently sells its inventory and replenishes it within the given time frames.

The receivables turnover ratio has shown some fluctuations, with Q4 2023 displaying the highest turnover at 7.32, suggesting that the company collected its outstanding receivables more efficiently during that period.

The payables turnover ratio has been consistently high, ranging from 11.88 to 15.04, implying that Oceaneering International efficiently settled its payables with suppliers, potentially benefitting from favorable credit terms.

The working capital turnover ratio has exhibited an increasing trend, indicating the number of times working capital was utilized to generate revenue. A higher turnover reflects efficient utilization of working capital, and Oceaneering International's ratios have shown a positive trajectory over the quarters analyzed.

Overall, these activity ratios suggest that Oceaneering International, Inc. effectively manages its working capital, inventory, receivables, and payables to support its operations and generate revenue.

Average number of days

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Days of inventory on hand (DOH) days 37.80 39.52 40.84 39.69 38.26 36.02 37.59 36.45 34.94 29.45 29.46 30.66 30.98 29.05 30.75 30.77 32.71 39.63 40.69 40.08
Days of sales outstanding (DSO) days 49.88 62.00 60.46 53.79 52.39 70.36 66.06 58.98 51.35 58.57 67.76 60.06 59.15 61.62 63.76 65.11 75.09 69.23 68.15 70.07
Number of days of payables days 28.12 29.38 29.54 28.67 30.72 29.17 28.79 24.26 27.82 22.36 24.36 21.72 20.67 18.87 17.14 23.10 27.32 20.26 20.71 22.06

Oceaneering International, Inc.'s activity ratios show trends in its operational efficiency over the past eight quarters.

1. Days of Inventory on Hand (DOH): The company's inventory turnover has been relatively stable, with the number of days of inventory on hand ranging from 36.02 days to 40.84 days. This indicates that Oceaneering International, Inc. is managing its inventory well, with a consistent level of efficiency in converting inventory into sales.

2. Days of Sales Outstanding (DSO): Oceaneering International, Inc.'s accounts receivable turnover has fluctuated, with the number of days of sales outstanding ranging from 52.39 days to 70.36 days. A lower DSO indicates a faster collection of receivables, which can improve cash flow and liquidity.

3. Number of Days of Payables: The company's payables turnover has shown slight variations, with the number of days of payables ranging from 24.26 days to 30.72 days. A lower number of days of payables indicates that the company is paying its suppliers more quickly, which could potentially strain liquidity.

Overall, Oceaneering International, Inc. has demonstrated reasonable efficiency in managing its inventory and receivables, although there may be room for improvement in managing payables to optimize working capital and cash flow.

Long-term

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Fixed asset turnover 5.71 5.47 5.24 5.05 4.71 4.59 4.18 3.91 3.82 3.58 3.35 3.08 3.09 3.22 3.12 3.11 2.64 2.09 2.11 2.08
Total asset turnover 1.08 1.00 1.03 1.06 1.02 1.04 1.02 0.99 0.95 0.92 0.87 0.86 0.89 0.96 0.95 0.97 0.75 0.69 0.68 0.67

Oceaneering International, Inc.'s fixed asset turnover and total asset turnover ratios provide insights into the company's ability to generate sales revenue relative to its fixed assets and total assets, respectively.

The fixed asset turnover ratio has exhibited an increasing trend over the past eight quarters, reaching a peak of 5.71 in Q4 2023. This indicates that the company is effectively utilizing its fixed assets to generate sales, with each dollar of fixed assets generating approximately $5.71 in revenue during the latest quarter. The consistent growth in this ratio suggests improvements in operational efficiency and asset utilization within the company.

On the other hand, the total asset turnover ratio has fluctuated within a narrower range, with a high of 1.08 in Q4 2023 and a low of 0.99 in Q1 2022. This ratio signifies the company's ability to generate sales in relation to its total assets, including both fixed and current assets. The overall stability of the total asset turnover ratio indicates that Oceaneering International, Inc. has maintained relatively consistent sales efficiency over the analyzed period.

In conclusion, the upward trend in the fixed asset turnover ratio coupled with the stable total asset turnover ratio suggests that Oceaneering International, Inc. has been effectively managing its assets to drive sales growth. However, further analysis of the company's industry peers and operational strategies may provide additional context for a more comprehensive assessment of its long-term activity performance.