Is Oceaneering International, Inc. overvalued or undervalued?

As of 12 August 2025, the valuation grade for Oceaneering International, Inc. has moved from very attractive to attractive, indicating a slight decrease in perceived value. The company appears to be undervalued, with a P/E ratio of 12, a PEG ratio of 0.23, and an EV to EBITDA ratio of 6.48, all suggesting that the stock may be trading below its intrinsic value compared to its earnings growth potential.
In comparison to its peers, Oceaneering's P/E ratio of 13.23 is lower than that of ESAB Corp. at 24.12, which is rated fair, and significantly lower than Gates Industrial Corp. Plc, which is deemed very expensive at a P/E of 27.60. Despite recent underperformance against the S&P 500 with a year-to-date return of -5.48% versus 12.22%, the company's strong historical performance over 3 and 5 years, with returns of 163.92% and 491.13% respectively, reinforces the notion that it is currently undervalued.