Oceaneering International Inc (OII)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	97,403	25,941	-49,307	-496,751	-348,444
Total assets	US$ in thousands	2,239,010	2,031,680	1,962,860	2,045,840	2,740,660
ROA		4.35%	1.28%	-2.51%	-24.28%	-12.71%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $97,403K ÷ $2,239,010K
= 4.35%

Oceaneering International, Inc.'s return on assets (ROA) has shown significant improvement over the past five years. In 2023, the company's ROA stood at 4.35%, a substantial increase from the previous year's 1.28%. This improvement indicates that the company has been more effective in generating profits from its assets in 2023.

Looking further back, in 2021, Oceaneering International had a negative ROA of -2.51%, indicating that the company's assets were not efficiently utilized to generate returns. However, the company managed to turn this around in 2022 and especially in 2023, showing a positive trend in its asset utilization.

The sharp contrast can be seen when comparing 2023 to 2019, where the ROA was at a low of -12.71%, and 2020 when it was significantly negative at -24.28%. These figures suggest that Oceaneering International faced challenges in effectively leveraging its assets to generate profits in those years.

Overall, the positive ROA trend in recent years indicates that Oceaneering International has made progress in optimizing its asset management efficiency, which could potentially lead to improved profitability and financial performance.