<ul>
<li>想知道 Oceaneering International 在每股约 26 美元的价格是否仍然是一个明智的投资，还是说大幅上涨的机会已经过去？您来对地方了，我们将分析当前价格的真实含义。</li>
<li>该股票在过去一周下跌了约 3.3%，但在过去一个月仍上涨了 11.7%。这与过去一年平稳的 0.7% 增长相比，过去 3 年和 5 年分别强劲增长了 79.9% 和 215.4%，这种混合情况暗示了整合和长期动能。</li>
<li>最近的头条新闻强调了在海上服务领域的稳定合同赢得和对海底机器人及自主技术的持续投资。这进一步强化了 Oceaneering 正在为下一轮海上和能源基础设施支出做好准备的观点。同时，市场评论集中在其订单积压和技术密集型产品如何在一定程度上使其免受能源价格短期波动的影响，这有助于解释尽管行业情绪波动，股价仍然保持韧性。</li>
<li>根据我们的检查，Oceaneering 的估值得分为 4/6，表明市场可能尚未完全定价其基本面。接下来，我们将逐步介绍主要的估值方法，然后以更全面的方式思考该股票的真实价值。</li>
</ul>
<p>了解为什么 Oceaneering International 在过去一年 0.7% 的回报落后于同行。</p>
<h3>方法 1：Oceaneering International 折现现金流（DCF）分析</h3>
<p>折现现金流（DCF）模型通过预测公司未来能够产生的现金流并将这些现金流折现回今天，来估算公司的价值。对于 Oceaneering International，该模型以过去 12 个月的自由现金流约为 1.11 亿美元为起点，然后叠加分析师的预测和长期预测。</p>
<p>分析师预计自由现金流在未来几年将稳步增长，预测 2026 年约为 1.46 亿美元，2027 年约为 1.84 亿美元。Simply Wall St 随后在分析师窗口之外进行外推，预计到 2035 年自由现金流将达到约 3.11 亿美元，均以美元计。这些未来现金流被折现以反映风险和货币的时间价值，然后进行汇总。</p>
<p>基于此，DCF 模型指向每股内在价值约为 51.43 美元，而市场价格约为 26 美元。这意味着该股票的交易价格约为其估计公允价值的 49.3% 的折扣，暗示如果这些现金流预测准确，将有显著的上行空间。</p>
<p><strong>结果：被低估</strong></p>
<p>我们的折现现金流（DCF）分析表明 Oceaneering International 被低估了 49.3%。在您的观察列表或投资组合中跟踪此信息，或发现基于现金流的 907 只被低估股票。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1706" height="760" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/dcf"/></p>
<p>截至 2025 年 12 月的 OII 折现现金流</p>
<p>前往我们公司报告的估值部分，了解我们如何得出 Oceaneering International 的公允价值的更多细节。</p>
<h3>方法 2：Oceaneering International 市盈率</h3>
<p>对于像 Oceaneering International 这样盈利稳健的公司，市盈率（PE）是衡量投资者为每美元当前收益支付多少的有用方式。一般来说，增长较快且风险较低的企业应享有更高的市盈率，而增长缓慢或风险较高的企业则应以较低的倍数交易，因此没有单一的 “正确” 数字。</p>
<p>Oceaneering 目前的市盈率约为 11.2 倍，远低于能源服务行业平均的约 18.4 倍和更广泛的同行组接近 38.5 倍。Simply Wall St 不仅停留在这些简单的比较上，还计算出一个专有的 “公允比率”，即在考虑公司的收益增长前景、风险特征、利润率、行业特征和市值后，您合理预期的市盈率。这个公允比率框架比单纯的同行或行业检查更为稳健，因为它承认同一行业中的两家公司可以合理地享有非常不同的倍数。</p>
<p>基于此，Oceaneering 当前的 11.2 倍市盈率低于其公允比率，这表明该股票在收益方面被低估。</p>
<p><strong>结果：被低估</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NYSE:OII 市盈率</p>
<p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1448 家公司，内部人士正在大举押注于爆炸性增长。</p>
<h3>提升您的决策能力：选择您的 Oceaneering International 叙述</h3>
<p>我们之前提到过，还有一种更好的理解估值的方法，因此让我们向您介绍叙述，这只是您关于公司的故事，直接与您认为合理的未来收入、收益、利润率和公允价值的数字相关联。叙述将三个部分连接在一起：您相信的商业故事、从该故事流出的财务预测，以及当您将这些预期折现回今天时得到的公允价值。在 Simply Wall St，叙述是一个易于使用的动态工具，数百万投资者在社区页面上使用它来查看他们对股票的看法如何转化为可以与当前价格比较的公允价值，以决定是买入、持有还是卖出。由于叙述会随着新消息、合同或收益的到来而更新，您的公允价值观点会随着事实的发展而演变；例如，一个 Oceaneering 叙述可能认为全球能源转型限制了长期海上需求，并指出公允价值接近 17.50 美元，而另一个则专注于国防增长、机器人技术的优势和重复合同，以支持接近 25.00 美元的公允价值。</p>
<p>您认为 Oceaneering International 的故事还有更多内容吗？前往我们的社区，看看其他人怎么说！</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1510" height="1044" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/quote-price"/></p>
<p>NYSE:OII 1 年股票价格走势图</p>
<p><em>这篇来自 Simply Wall St 的文章具有一般性。<strong>我们仅基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不意图提供财务建议。</strong> 它不构成买卖任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中均没有持仓。</em></p>
<p>国防与灾难的移动基础设施</p>
<p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

国际海洋工程

<p>Oceaneering International 的股票目前价格为 26 美元，根据折现现金流（DCF）分析，认为其内在价值为每股 51.43 美元，因而被视为被低估。该股票的交易价格比其公允价值低 49.3%。此外，其市盈率为 11.2 倍，低于行业平均水平，进一步表明其被低估。尽管近期股票波动，Oceaneering 在海底机器人和海上服务方面的投资为其未来增长奠定了基础</p>

<ul>
<li>Wondering if Oceaneering International at around $26 a share is still a smart buy, or if the big gains are already behind it? You are in the right place to unpack what the current price really implies.</li>
<li>The stock has slipped about 3.3% over the last week but is still up 11.7% over the past month. This follows a flat 0.7% gain over the last year and a much stronger 79.9% and 215.4% over the past 3 and 5 years respectively, a mix that hints at both consolidation and long term momentum.</li>
<li>Recent headlines have highlighted steady contract wins in offshore services and continued investment in subsea robotics and autonomy. This reinforces the idea that Oceaneering is positioning itself for the next leg of offshore and energy infrastructure spending. At the same time, market commentary has focused on how its backlog and technology heavy offerings may insulate it somewhat from short term swings in energy prices, which helps explain the share price resilience despite choppy sector sentiment.</li>
<li>On our checks, Oceaneering scores a 4/6 valuation score, suggesting the market may not be fully pricing in its fundamentals just yet. Next we will walk through the main valuation approaches before finishing with a more complete way to think about what the stock is really worth.</li>
</ul>
<div class="lb-trans"><ul>
<li>想知道 Oceaneering International 在每股约 26 美元的价格是否仍然是一个明智的投资，还是说大幅上涨的机会已经过去？您来对地方了，我们将分析当前价格的真实含义。</li>
<li>该股票在过去一周下跌了约 3.3%，但在过去一个月仍上涨了 11.7%。这与过去一年平稳的 0.7% 增长相比，过去 3 年和 5 年分别强劲增长了 79.9% 和 215.4%，这种混合情况暗示了整合和长期动能。</li>
<li>最近的头条新闻强调了在海上服务领域的稳定合同赢得和对海底机器人及自主技术的持续投资。这进一步强化了 Oceaneering 正在为下一轮海上和能源基础设施支出做好准备的观点。同时，市场评论集中在其订单积压和技术密集型产品如何在一定程度上使其免受能源价格短期波动的影响，这有助于解释尽管行业情绪波动，股价仍然保持韧性。</li>
<li>根据我们的检查，Oceaneering 的估值得分为 4/6，表明市场可能尚未完全定价其基本面。接下来，我们将逐步介绍主要的估值方法，然后以更全面的方式思考该股票的真实价值。</li>
</ul>
</div><p>Find out why Oceaneering International's 0.7% return over the last year is lagging behind its peers.</p>
<div class="lb-trans"><p>了解为什么 Oceaneering International 在过去一年 0.7% 的回报落后于同行。</p>
</div><h3>Approach 1: Oceaneering International Discounted Cash Flow (DCF) Analysis</h3>
<div class="lb-trans"><h3>方法 1：Oceaneering International 折现现金流（DCF）分析</h3>
</div><p>A Discounted Cash Flow, or DCF, model estimates what a company is worth by projecting the cash it can generate in the future and discounting those cash flows back to today. For Oceaneering International, the model starts with last twelve month Free Cash Flow of about $111 million and then layers on analyst forecasts plus longer term projections.</p>
<div class="lb-trans"><p>折现现金流（DCF）模型通过预测公司未来能够产生的现金流并将这些现金流折现回今天，来估算公司的价值。对于 Oceaneering International，该模型以过去 12 个月的自由现金流约为 1.11 亿美元为起点，然后叠加分析师的预测和长期预测。</p>
</div><p>Analysts expect Free Cash Flow to climb steadily over the next several years, with projections such as roughly $146 million in 2026 and $184 million in 2027. Simply Wall St then extrapolates beyond the analyst window, with FCF estimated to reach about $311 million by 2035, all in $. These future cash flows are discounted to reflect risk and the time value of money, and then summed.</p>
<div class="lb-trans"><p>分析师预计自由现金流在未来几年将稳步增长，预测 2026 年约为 1.46 亿美元，2027 年约为 1.84 亿美元。Simply Wall St 随后在分析师窗口之外进行外推，预计到 2035 年自由现金流将达到约 3.11 亿美元，均以美元计。这些未来现金流被折现以反映风险和货币的时间价值，然后进行汇总。</p>
</div><p>On this basis, the DCF model points to an intrinsic value of roughly $51.43 per share, compared with a market price around $26. That implies the stock trades at about a 49.3% discount to its estimated fair value, suggesting meaningful upside if these cash flow projections prove accurate.</p>
<div class="lb-trans"><p>基于此，DCF 模型指向每股内在价值约为 51.43 美元，而市场价格约为 26 美元。这意味着该股票的交易价格约为其估计公允价值的 49.3% 的折扣，暗示如果这些现金流预测准确，将有显著的上行空间。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被低估</strong></p>
</div><p>Our Discounted Cash Flow (DCF) analysis suggests Oceaneering International is undervalued by 49.3%. Track this in your watchlist or portfolio, or discover 907 more undervalued stocks based on cash flows.</p>
<div class="lb-trans"><p>我们的折现现金流（DCF）分析表明 Oceaneering International 被低估了 49.3%。在您的观察列表或投资组合中跟踪此信息，或发现基于现金流的 907 只被低估股票。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/dcf" alt="" original-src="https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/dcf"/></p>
<p>OII Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 OII 折现现金流</p>
</div><p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Oceaneering International.</p>
<div class="lb-trans"><p>前往我们公司报告的估值部分，了解我们如何得出 Oceaneering International 的公允价值的更多细节。</p>
</div><h3>Approach 2: Oceaneering International Price vs Earnings</h3>
<div class="lb-trans"><h3>方法 2：Oceaneering International 市盈率</h3>
</div><p>For a company that is solidly profitable like Oceaneering International, the Price to Earnings, or PE, ratio is a useful way to gauge how much investors are paying for each dollar of current earnings. In general, faster growing and lower risk businesses deserve a higher PE, while slower or riskier ones should trade on a lower multiple, so there is no single “correct” number in isolation.</p>
<div class="lb-trans"><p>对于像 Oceaneering International 这样盈利稳健的公司，市盈率（PE）是衡量投资者为每美元当前收益支付多少的有用方式。一般来说，增长较快且风险较低的企业应享有更高的市盈率，而增长缓慢或风险较高的企业则应以较低的倍数交易，因此没有单一的 “正确” 数字。</p>
</div><p>Oceaneering currently trades on a PE of about 11.2x, which is well below both the Energy Services industry average of roughly 18.4x and a broader peer group closer to 38.5x. Rather than stopping at those simple comparisons, Simply Wall St also calculates a proprietary “Fair Ratio”, which is the PE you would reasonably expect once you factor in the company’s earnings growth outlook, risk profile, profit margins, industry characteristics and market cap. This Fair Ratio framework is more robust than a plain peer or sector check because it recognises that two companies in the same industry can justifiably deserve very different multiples.</p>
<div class="lb-trans"><p>Oceaneering 目前的市盈率约为 11.2 倍，远低于能源服务行业平均的约 18.4 倍和更广泛的同行组接近 38.5 倍。Simply Wall St 不仅停留在这些简单的比较上，还计算出一个专有的 “公允比率”，即在考虑公司的收益增长前景、风险特征、利润率、行业特征和市值后，您合理预期的市盈率。这个公允比率框架比单纯的同行或行业检查更为稳健，因为它承认同一行业中的两家公司可以合理地享有非常不同的倍数。</p>
</div><p>On this basis, Oceaneering’s current 11.2x PE sits below its Fair Ratio, which points to the shares being undervalued on earnings.</p>
<div class="lb-trans"><p>基于此，Oceaneering 当前的 11.2 倍市盈率低于其公允比率，这表明该股票在收益方面被低估。</p>
</div><p><strong>Result: UNDERVALUED</strong></p>
<div class="lb-trans"><p><strong>结果：被低估</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:OII PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NYSE:OII 市盈率</p>
</div><p>PE ratios tell one story, but what if the real opportunity lies elsewhere? Discover 1448 companies where insiders are betting big on explosive growth.</p>
<div class="lb-trans"><p>市盈率讲述了一个故事，但如果真正的机会在其他地方呢？发现 1448 家公司，内部人士正在大举押注于爆炸性增长。</p>
</div><h3>Upgrade Your Decision Making: Choose your Oceaneering International Narrative</h3>
<div class="lb-trans"><h3>提升您的决策能力：选择您的 Oceaneering International 叙述</h3>
</div><p>Earlier we mentioned that there is an even better way to understand valuation, so let us introduce you to Narratives, which are simply your story about a company linked directly to the numbers you think are reasonable for its future revenues, earnings, margins and fair value. A Narrative connects three pieces together: the business story you believe, the financial forecast that flows from that story, and then the fair value you get when you discount those expectations back to today. On Simply Wall St, Narratives are an easy to use, dynamic tool on the Community page that millions of investors use to see how their view of a stock translates into a Fair Value they can compare with the current Price to decide whether to buy, hold or sell. Because Narratives update as new news, contracts or earnings come in, your fair value view evolves with the facts; for example, one Oceaneering Narrative might argue the global energy transition caps long term offshore demand and point to fair value near $17.50, while another focuses on defense growth, robotics strength and recurring contracts to support a fair value closer to $25.00.</p>
<div class="lb-trans"><p>我们之前提到过，还有一种更好的理解估值的方法，因此让我们向您介绍叙述，这只是您关于公司的故事，直接与您认为合理的未来收入、收益、利润率和公允价值的数字相关联。叙述将三个部分连接在一起：您相信的商业故事、从该故事流出的财务预测，以及当您将这些预期折现回今天时得到的公允价值。在 Simply Wall St，叙述是一个易于使用的动态工具，数百万投资者在社区页面上使用它来查看他们对股票的看法如何转化为可以与当前价格比较的公允价值，以决定是买入、持有还是卖出。由于叙述会随着新消息、合同或收益的到来而更新，您的公允价值观点会随着事实的发展而演变；例如，一个 Oceaneering 叙述可能认为全球能源转型限制了长期海上需求，并指出公允价值接近 17.50 美元，而另一个则专注于国防增长、机器人技术的优势和重复合同，以支持接近 25.00 美元的公允价值。</p>
</div><p>Do you think there's more to the story for Oceaneering International? Head over to our Community to see what others are saying!</p>
<div class="lb-trans"><p>您认为 Oceaneering International 的故事还有更多内容吗？前往我们的社区，看看其他人怎么说！</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/quote-price" alt="" original-src="https://images.simplywall.st/company/16aefef2-482d-44ac-aed2-1d2dcb8f5b0e/chart/quote-price"/></p>
<p>NYSE:OII 1-Year Stock Price Chart</p>
<div class="lb-trans"><p>NYSE:OII 1 年股票价格走势图</p>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇来自 Simply Wall St 的文章具有一般性。<strong>我们仅基于历史数据和分析师预测提供评论，采用无偏见的方法，我们的文章并不意图提供财务建议。</strong> 它不构成买卖任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中均没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>国防与灾难的移动基础设施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

在多年强劲增长和海底机器人发展势头之后，评估国际海洋工程的估值