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Side-by-side financial comparison of AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
AMERICAN AXLE & MANUFACTURING HOLDINGS INC is the larger business by last-quarter revenue ($1.4B vs $692.4M, roughly 2.0× OCEANEERING INTERNATIONAL INC). OCEANEERING INTERNATIONAL INC runs the higher net margin — 5.2% vs -5.4%, a 10.7% gap on every dollar of revenue. On growth, OCEANEERING INTERNATIONAL INC posted the faster year-over-year revenue change (2.7% vs 0.2%). AMERICAN AXLE & MANUFACTURING HOLDINGS INC produced more free cash flow last quarter ($54.7M vs $-76.5M). Over the past eight quarters, OCEANEERING INTERNATIONAL INC's revenue compounded faster (1.8% CAGR vs -7.2%).
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.
Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.
AXL vs OII — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $692.4M |
| Net Profit | $-75.3M | $36.1M |
| Gross Margin | 10.2% | — |
| Operating Margin | -2.4% | — |
| Net Margin | -5.4% | 5.2% |
| Revenue YoY | 0.2% | 2.7% |
| Net Profit YoY | -449.6% | -79.7% |
| EPS (diluted) | $-0.62 | $0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $692.4M | ||
| Q4 25 | $1.4B | $668.6M | ||
| Q3 25 | $1.5B | $742.9M | ||
| Q2 25 | $1.5B | $698.2M | ||
| Q1 25 | $1.4B | $674.5M | ||
| Q4 24 | $1.4B | $713.5M | ||
| Q3 24 | $1.5B | $679.8M | ||
| Q2 24 | $1.6B | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $-75.3M | $177.7M | ||
| Q3 25 | $9.2M | $71.3M | ||
| Q2 25 | $39.3M | $54.4M | ||
| Q1 25 | $7.1M | $50.4M | ||
| Q4 24 | $-13.7M | $56.1M | ||
| Q3 24 | $10.0M | $41.2M | ||
| Q2 24 | $18.2M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.2% | 19.8% | ||
| Q3 25 | 12.6% | 20.6% | ||
| Q2 25 | 13.1% | 21.3% | ||
| Q1 25 | 12.3% | 20.0% | ||
| Q4 24 | 11.2% | 19.9% | ||
| Q3 24 | 11.4% | 19.3% | ||
| Q2 24 | 13.3% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 9.8% | ||
| Q3 25 | 3.2% | 11.6% | ||
| Q2 25 | 3.6% | 11.3% | ||
| Q1 25 | 3.0% | 10.9% | ||
| Q4 24 | 2.6% | 10.9% | ||
| Q3 24 | 2.8% | 10.5% | ||
| Q2 24 | 5.3% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | -5.4% | 26.6% | ||
| Q3 25 | 0.6% | 9.6% | ||
| Q2 25 | 2.6% | 7.8% | ||
| Q1 25 | 0.5% | 7.5% | ||
| Q4 24 | -1.0% | 7.9% | ||
| Q3 24 | 0.7% | 6.1% | ||
| Q2 24 | 1.1% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $-0.62 | $1.75 | ||
| Q3 25 | $0.07 | $0.71 | ||
| Q2 25 | $0.32 | $0.54 | ||
| Q1 25 | $0.06 | $0.49 | ||
| Q4 24 | $-0.11 | $0.55 | ||
| Q3 24 | $0.08 | $0.40 | ||
| Q2 24 | $0.15 | $0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $708.9M | — |
| Total DebtLower is stronger | $4.0B | $488.8M |
| Stockholders' EquityBook value | $640.0M | $1.1B |
| Total Assets | $6.7B | $2.6B |
| Debt / EquityLower = less leverage | 6.31× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $708.9M | $695.9M | ||
| Q3 25 | $714.1M | $7.0M | ||
| Q2 25 | $586.5M | $7.0M | ||
| Q1 25 | $549.2M | $7.0M | ||
| Q4 24 | $552.9M | $504.5M | ||
| Q3 24 | $542.5M | — | ||
| Q2 24 | $519.9M | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $4.0B | $487.4M | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.6B | $482.0M | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.7B | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $640.0M | $1.1B | ||
| Q3 25 | $718.4M | $907.7M | ||
| Q2 25 | $673.0M | $842.1M | ||
| Q1 25 | $596.3M | $773.1M | ||
| Q4 24 | $562.8M | $714.3M | ||
| Q3 24 | $616.3M | $698.0M | ||
| Q2 24 | $609.6M | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $6.7B | $2.7B | ||
| Q3 25 | $5.3B | $2.5B | ||
| Q2 25 | $5.3B | $2.3B | ||
| Q1 25 | $5.1B | $2.3B | ||
| Q4 24 | $5.1B | $2.3B | ||
| Q3 24 | $5.3B | $2.4B | ||
| Q2 24 | $5.3B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 6.31× | 0.46× | ||
| Q3 25 | 3.61× | — | ||
| Q2 25 | 3.86× | — | ||
| Q1 25 | 4.38× | — | ||
| Q4 24 | 4.58× | 0.67× | ||
| Q3 24 | 4.28× | — | ||
| Q2 24 | 4.42× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $120.5M | — |
| Free Cash FlowOCF − Capex | $54.7M | $-76.5M |
| FCF MarginFCF / Revenue | 4.0% | -11.1% |
| Capex IntensityCapex / Revenue | 4.8% | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $155.1M | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $120.5M | $221.1M | ||
| Q3 25 | $143.3M | $101.3M | ||
| Q2 25 | $91.9M | $77.2M | ||
| Q1 25 | $55.9M | $-80.7M | ||
| Q4 24 | $151.2M | $128.4M | ||
| Q3 24 | $143.6M | $91.9M | ||
| Q2 24 | $142.8M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $54.7M | $190.7M | ||
| Q3 25 | $79.2M | $77.0M | ||
| Q2 25 | $34.6M | $46.9M | ||
| Q1 25 | $-13.4M | $-106.8M | ||
| Q4 24 | $73.2M | $94.5M | ||
| Q3 24 | $70.4M | $67.0M | ||
| Q2 24 | $94.0M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | 4.0% | 28.5% | ||
| Q3 25 | 5.3% | 10.4% | ||
| Q2 25 | 2.3% | 6.7% | ||
| Q1 25 | -0.9% | -15.8% | ||
| Q4 24 | 5.3% | 13.2% | ||
| Q3 24 | 4.7% | 9.9% | ||
| Q2 24 | 5.8% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 4.8% | 4.6% | ||
| Q3 25 | 4.3% | 3.3% | ||
| Q2 25 | 3.7% | 4.3% | ||
| Q1 25 | 4.9% | 3.9% | ||
| Q4 24 | 5.6% | 4.7% | ||
| Q3 24 | 4.9% | 3.7% | ||
| Q2 24 | 3.0% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.24× | ||
| Q3 25 | 15.58× | 1.42× | ||
| Q2 25 | 2.34× | 1.42× | ||
| Q1 25 | 7.87× | -1.60× | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | 14.36× | 2.23× | ||
| Q2 24 | 7.85× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
OII
| Backlog at end of period | $492.0M | 71% |
| Other | $162.8M | 24% |
| ROV days available | $22.5M | 3% |
| ROV days utilized | $15.1M | 2% |
