Is Oceaneering International, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Oceaneering International, Inc. moved from attractive to very attractive, indicating a strong improvement in its valuation outlook. The company appears to be undervalued based on its current metrics, with a P/E ratio of 12, a PEG ratio of 0.23, and an EV to EBITDA of 6.48. In comparison to its peers, Oceaneering's P/E ratio of 13.23 is lower than that of ESAB Corp. at 24.12, and its EV to EBITDA is more favorable than John Bean Technologies Corp.'s significantly higher ratio of 23.81.
Despite a year-to-date return of -11.39% compared to the S&P 500's 13.30%, Oceaneering has shown remarkable long-term performance, with a 5-year return of 501.82% versus the S&P 500's 91.29%. This suggests that while recent performance has lagged, the company's long-term potential remains strong, reinforcing its undervalued status.