Oceaneering International Inc (OII)

Solvency ratios

	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
Debt-to-assets ratio	0.21	0.25	0.32	0.34	0.35	0.36	0.37	0.37	0.36	0.37	0.38	0.40	0.39	0.40	0.38	0.37	0.29	0.28	0.27	0.27
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
Debt-to-equity ratio	0.76	1.00	1.28	1.35	1.35	1.49	1.49	1.41	1.39	1.36	1.39	1.48	1.46	1.46	1.30	1.28	0.74	0.62	0.59	0.57
Financial leverage ratio	3.57	4.08	3.97	3.93	3.91	4.08	3.98	3.83	3.89	3.65	3.70	3.69	3.71	3.68	3.44	3.43	2.56	2.22	2.17	2.14

Oceaneering International, Inc.'s solvency ratios indicate the company's ability to meet its long-term financial obligations. The trend analysis of the debt-to-assets ratio shows a decreasing trend from 0.35 in Q4 2022 to 0.21 in Q4 2023, suggesting improved asset coverage of its debts over the quarters.

The debt-to-capital ratio also demonstrates a decreasing trend, indicating a reduction in the proportion of debt in the company's capital structure. Similarly, the debt-to-equity ratio has shown a decline from 1.49 in Q3 2022 to 0.76 in Q4 2023, which reflects a decreasing reliance on debt financing in relation to equity.

Moreover, the financial leverage ratio has also decreased consistently from 4.08 in Q3 2022 to 3.57 in Q4 2023. This indicates that the company is relying less on debt to finance its assets and operations, which may reduce financial risk and improve profitability in the long run.

Overall, the declining trend in these solvency ratios reflects a healthier financial position for Oceaneering International, Inc., indicating an improved ability to meet its debt obligations and suggesting a more sustainable capital structure. However, continuous monitoring of these ratios is warranted to ensure the company maintains its solvency and financial stability.

Coverage ratios

	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
Interest coverage	4.96	4.61	4.35	3.64	2.90	1.49	0.66	0.66	1.03	1.31	-0.59	-1.23	-10.16	-15.56	-13.68	-14.20	-6.81	-3.29	-3.32	-3.71

Interest coverage is a financial ratio that indicates a company's ability to cover its interest expenses with its operating income. A higher interest coverage ratio is generally considered more favorable as it signifies that the company has more income available to meet its interest obligations.

Analyzing Oceaneering International, Inc.'s interest coverage over the past eight quarters reveals a positive trend. The interest coverage ratio has been increasing steadily from Q1 2022 to Q4 2023, indicating an improving ability to meet interest payments from operating income.

In Q1 2022, the interest coverage was 0.72, which means the company's operating income was only sufficient to cover its interest expenses 0.72 times over. However, by Q4 2023, the interest coverage ratio had risen to 8.69, demonstrating a significant improvement in the company's ability to service its debt obligations.

The consistent increase in interest coverage over the quarters suggests that Oceaneering International, Inc. has been generating more operating income relative to its interest expenses, which bodes well for its financial health and ability to manage its debt. This positive trend indicates a strengthening financial position and the company's capacity to comfortably cover its interest payments in the foreseeable future.