Oceaneering International Inc (OII)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	477,058	700,973	702,067	805,251	796,516
Total assets	US$ in thousands	2,239,010	2,031,680	1,962,860	2,045,840	2,740,660
Debt-to-assets ratio		0.21	0.35	0.36	0.39	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $477,058K ÷ $2,239,010K
= 0.21

The debt-to-assets ratio of Oceaneering International, Inc. has shown a fluctuating trend over the past five years. The ratio decreased from 0.39 in 2020 to 0.29 in 2019, indicating a decrease in the proportion of debt relative to total assets. However, this trend reversed as the ratio increased to 0.36 in 2021 and further to 0.35 in 2022 before dropping to 0.21 in 2023.

The decrease in the debt-to-assets ratio in 2023 suggests that the company has reduced its reliance on debt to finance its operations and investments, resulting in a more favorable financial position in terms of asset coverage. This improvement may indicate a more conservative approach to managing debt and potential lower financial risk for the company.

Overall, the fluctuation in the debt-to-assets ratio over the years may indicate varying levels of leverage and financial stability within Oceaneering International, Inc. It is essential for investors and analysts to continue monitoring this ratio along with other financial metrics to assess the company's financial health and debt management strategies.