Oceaneering International Inc (OII)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	477,058	568,471	700,404	700,695	700,973	701,258	701,539	701,808	702,067	739,980	773,423	804,888	805,251	805,631	806,006	806,396	796,516	799,855	795,639	790,969
Total stockholders’ equity	US$ in thousands	628,020	566,272	545,419	520,243	519,741	471,235	470,665	495,992	504,961	543,034	556,669	542,282	552,094	553,356	619,346	630,596	1,069,350	1,297,020	1,352,970	1,385,440
Debt-to-capital ratio		0.43	0.50	0.56	0.57	0.57	0.60	0.60	0.59	0.58	0.58	0.58	0.60	0.59	0.59	0.57	0.56	0.43	0.38	0.37	0.36

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $477,058K ÷ ($477,058K + $628,020K)
= 0.43

Based on the provided data for Oceaneering International, Inc., the debt-to-capital ratio has exhibited a fluctuating trend over the past eight quarters. The ratio has ranged from a low of 0.43 in Q4 2023 to a high of 0.60 in both Q3 and Q2 2022.

The downward trend from Q2 2022 to Q4 2023 indicates a decreasing reliance on debt financing relative to the total capital structure of the company. This trend suggests a potential improvement in the financial stability and risk profile of Oceaneering International, Inc.

However, it is worth noting that the ratio has remained above 0.50 for the majority of the periods analyzed, indicating that a significant portion of the company's capital structure is funded through debt. This level of debt could potentially increase financial risk and interest expense for the company.

Overall, a closer examination of Oceaneering International, Inc.'s debt management strategies and the reasons behind the fluctuations in the debt-to-capital ratio would be necessary to gain a more comprehensive understanding of the company's financial health and leverage position.