Oceaneering International Inc (OII)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	398,971	383,444	364,501	339,462	307,377	296,438	260,532	252,888	264,065	229,903	199,706	173,846	163,941	98,553	117,963	117,409	98,244	151,666	150,240	137,985
Revenue (ttm)	US$ in thousands	2,424,706	2,306,300	2,230,791	2,156,912	2,066,084	1,996,570	1,903,713	1,877,881	1,869,275	1,826,828	1,799,757	1,728,774	1,827,889	1,964,437	2,022,341	2,090,906	2,048,124	1,982,409	2,004,062	1,986,955
Gross profit margin		16.45%	16.63%	16.34%	15.74%	14.88%	14.85%	13.69%	13.47%	14.13%	12.58%	11.10%	10.06%	8.97%	5.02%	5.83%	5.62%	4.80%	7.65%	7.50%	6.94%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $398,971K ÷ $2,424,706K
= 16.45%

The gross profit margin of Oceaneering International, Inc. has shown a consistent improvement over the past eight quarters. The company's gross profit margin ranged from 13.47% in Q1 2022 to 16.63% in Q3 2023. This upward trend indicates that Oceaneering has been effectively managing its cost of goods sold and generating higher profits from its sales. The company's ability to maintain a healthy gross profit margin demonstrates efficiency in production and pricing strategies, which bodes well for its overall financial performance.