Oceaneering International Inc (OII)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	628,020	519,741	504,961	552,094	1,069,350
Debt-to-equity ratio		0.76	1.35	1.39	1.46	0.74

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $477,058K ÷ $628,020K
= 0.76

The debt-to-equity ratio of Oceaneering International, Inc. has fluctuated over the past five years, indicating changes in the company's capital structure and financial leverage.

In 2023, the debt-to-equity ratio improved to 0.76 from 1.35 in 2022, suggesting a reduction in the level of debt relative to equity. This could signify a stronger financial position with lower reliance on debt financing compared to the previous year.

The ratio was also lower in 2019 at 0.74, indicating a relatively lower level of debt compared to equity, which may have been beneficial for the company's financial stability and risk management.

Conversely, the debt-to-equity ratio was higher in 2020 and 2021, at 1.46 and 1.39 respectively, reflecting a higher proportion of debt in the company's capital structure. This could imply higher financial risk and interest obligations during those years.

Overall, the trend in Oceaneering International's debt-to-equity ratio shows variability in the company's capital structure management over the years, with fluctuations highlighting changes in debt levels and equity contributions. Ideally, a lower debt-to-equity ratio indicates a more conservative financial approach, while a higher ratio may suggest more aggressive leveraging strategies.