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Side-by-side financial comparison of ConocoPhillips (COP) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
ConocoPhillips is the larger business by last-quarter revenue ($11.4B vs $692.4M, roughly 16.4× OCEANEERING INTERNATIONAL INC). ConocoPhillips runs the higher net margin — 12.7% vs 5.2%, a 7.4% gap on every dollar of revenue. On growth, OCEANEERING INTERNATIONAL INC posted the faster year-over-year revenue change (2.7% vs -10.7%). Over the past eight quarters, OCEANEERING INTERNATIONAL INC's revenue compounded faster (1.8% CAGR vs -3.8%).
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
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.
COP vs OII — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $11.4B | $692.4M |
| Net Profit | $1.4B | $36.1M |
| Gross Margin | 54.4% | — |
| Operating Margin | 19.7% | — |
| Net Margin | 12.7% | 5.2% |
| Revenue YoY | -10.7% | 2.7% |
| Net Profit YoY | -37.5% | -79.7% |
| EPS (diluted) | $1.18 | $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 | $11.4B | $668.6M | ||
| Q3 25 | $13.3B | $742.9M | ||
| Q2 25 | $12.6B | $698.2M | ||
| Q1 25 | $14.5B | $674.5M | ||
| Q4 24 | $12.7B | $713.5M | ||
| Q3 24 | $11.7B | $679.8M | ||
| Q2 24 | $12.7B | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $1.4B | $177.7M | ||
| Q3 25 | $1.7B | $71.3M | ||
| Q2 25 | $2.0B | $54.4M | ||
| Q1 25 | $2.8B | $50.4M | ||
| Q4 24 | $2.3B | $56.1M | ||
| Q3 24 | $2.1B | $41.2M | ||
| Q2 24 | $2.3B | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 54.4% | 19.8% | ||
| Q3 25 | 56.1% | 20.6% | ||
| Q2 25 | 59.7% | 21.3% | ||
| Q1 25 | 57.3% | 20.0% | ||
| Q4 24 | 60.2% | 19.9% | ||
| Q3 24 | 59.4% | 19.3% | ||
| Q2 24 | 61.6% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | 19.7% | 9.8% | ||
| Q3 25 | 22.0% | 11.6% | ||
| Q2 25 | 23.9% | 11.3% | ||
| Q1 25 | 30.8% | 10.9% | ||
| Q4 24 | 23.3% | 10.9% | ||
| Q3 24 | 27.6% | 10.5% | ||
| Q2 24 | 28.9% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | 12.7% | 26.6% | ||
| Q3 25 | 12.9% | 9.6% | ||
| Q2 25 | 15.6% | 7.8% | ||
| Q1 25 | 19.7% | 7.5% | ||
| Q4 24 | 18.1% | 7.9% | ||
| Q3 24 | 17.6% | 6.1% | ||
| Q2 24 | 18.4% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $1.18 | $1.75 | ||
| Q3 25 | $1.38 | $0.71 | ||
| Q2 25 | $1.56 | $0.54 | ||
| Q1 25 | $2.23 | $0.49 | ||
| Q4 24 | $1.92 | $0.55 | ||
| Q3 24 | $1.76 | $0.40 | ||
| Q2 24 | $1.98 | $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 | $7.0B | — |
| Total DebtLower is stronger | $22.4B | $488.8M |
| Stockholders' EquityBook value | $64.5B | $1.1B |
| Total Assets | $121.9B | $2.6B |
| Debt / EquityLower = less leverage | 0.35× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $7.0B | $695.9M | ||
| Q3 25 | $6.3B | $7.0M | ||
| Q2 25 | $5.3B | $7.0M | ||
| Q1 25 | $7.2B | $7.0M | ||
| Q4 24 | $6.1B | $504.5M | ||
| Q3 24 | $6.8B | — | ||
| Q2 24 | $6.0B | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $22.4B | $487.4M | ||
| Q3 25 | $22.5B | — | ||
| Q2 25 | $23.1B | — | ||
| Q1 25 | $23.2B | — | ||
| Q4 24 | $23.3B | $482.0M | ||
| Q3 24 | $17.0B | — | ||
| Q2 24 | $17.0B | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $64.5B | $1.1B | ||
| Q3 25 | $64.9B | $907.7M | ||
| Q2 25 | $65.6B | $842.1M | ||
| Q1 25 | $65.2B | $773.1M | ||
| Q4 24 | $64.8B | $714.3M | ||
| Q3 24 | $49.9B | $698.0M | ||
| Q2 24 | $49.7B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $121.9B | $2.7B | ||
| Q3 25 | $122.5B | $2.5B | ||
| Q2 25 | $122.6B | $2.3B | ||
| Q1 25 | $124.3B | $2.3B | ||
| Q4 24 | $122.8B | $2.3B | ||
| Q3 24 | $96.7B | $2.4B | ||
| Q2 24 | $96.0B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.35× | 0.46× | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | — | ||
| Q4 24 | 0.36× | 0.67× | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.34× | — |
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 | $4.3B | — |
| Free Cash FlowOCF − Capex | — | $-76.5M |
| FCF MarginFCF / Revenue | — | -11.1% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 2.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $221.1M | ||
| Q3 25 | $5.9B | $101.3M | ||
| Q2 25 | $3.5B | $77.2M | ||
| Q1 25 | $6.1B | $-80.7M | ||
| Q4 24 | $4.5B | $128.4M | ||
| Q3 24 | $5.8B | $91.9M | ||
| Q2 24 | $4.9B | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | — | $190.7M | ||
| Q3 25 | — | $77.0M | ||
| Q2 25 | — | $46.9M | ||
| Q1 25 | — | $-106.8M | ||
| Q4 24 | — | $94.5M | ||
| Q3 24 | — | $67.0M | ||
| Q2 24 | — | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | — | 28.5% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 6.7% | ||
| Q1 25 | — | -15.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 3.3% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.99× | 1.24× | ||
| Q3 25 | 3.41× | 1.42× | ||
| Q2 25 | 1.77× | 1.42× | ||
| Q1 25 | 2.15× | -1.60× | ||
| Q4 24 | 1.93× | 2.29× | ||
| Q3 24 | 2.80× | 2.23× | ||
| Q2 24 | 2.11× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
COP
| Natural Gas Reserves | $2.1B | 18% |
| Physical Gas Contracts | $2.0B | 18% |
| Europe Middle East And North Africa Segment | $1.6B | 14% |
| Natural Gas Product Line | $1.5B | 13% |
| Canada Operating Segment | $1.3B | 12% |
| Alaska Segment | $1.3B | 11% |
| Natural Gas Liquids Reserves | $826.0M | 7% |
| Asia Pacific Operating Segment | $360.0M | 3% |
| Crude Oil Product Line | $236.0M | 2% |
| Related Party | $12.0M | 0% |
| Corporate Segment | $7.0M | 0% |
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% |
