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Side-by-side financial comparison of Chevron Corporation (CVX) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
Chevron Corporation is the larger business by last-quarter revenue ($45.8B vs $692.4M, roughly 66.1× OCEANEERING INTERNATIONAL INC). Chevron Corporation runs the higher net margin — 6.0% vs 5.2%, a 0.8% gap on every dollar of revenue. On growth, OCEANEERING INTERNATIONAL INC posted the faster year-over-year revenue change (2.7% vs -5.3%). Chevron Corporation produced more free cash flow last quarter ($5.5B vs $-76.5M). Over the past eight quarters, OCEANEERING INTERNATIONAL INC's revenue compounded faster (1.8% CAGR vs -0.9%).
Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California, it is active in more than 180 countries.
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.
CVX vs OII — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $45.8B | $692.4M |
| Net Profit | $2.8B | $36.1M |
| Gross Margin | 44.6% | — |
| Operating Margin | 10.0% | — |
| Net Margin | 6.0% | 5.2% |
| Revenue YoY | -5.3% | 2.7% |
| Net Profit YoY | -14.5% | -79.7% |
| EPS (diluted) | $1.36 | $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 | $45.8B | $668.6M | ||
| Q3 25 | $48.2B | $742.9M | ||
| Q2 25 | $44.4B | $698.2M | ||
| Q1 25 | $46.1B | $674.5M | ||
| Q4 24 | $48.3B | $713.5M | ||
| Q3 24 | $48.9B | $679.8M | ||
| Q2 24 | $49.6B | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $2.8B | $177.7M | ||
| Q3 25 | $3.5B | $71.3M | ||
| Q2 25 | $2.5B | $54.4M | ||
| Q1 25 | $3.5B | $50.4M | ||
| Q4 24 | $3.2B | $56.1M | ||
| Q3 24 | $4.5B | $41.2M | ||
| Q2 24 | $4.4B | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 44.6% | 19.8% | ||
| Q3 25 | 43.1% | 20.6% | ||
| Q2 25 | 39.5% | 21.3% | ||
| Q1 25 | 37.9% | 20.0% | ||
| Q4 24 | 37.6% | 19.9% | ||
| Q3 24 | 37.8% | 19.3% | ||
| Q2 24 | 37.7% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | 10.0% | 9.8% | ||
| Q3 25 | 11.2% | 11.6% | ||
| Q2 25 | 9.3% | 11.3% | ||
| Q1 25 | 12.1% | 10.9% | ||
| Q4 24 | 12.5% | 10.9% | ||
| Q3 24 | 13.3% | 10.5% | ||
| Q2 24 | 14.2% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | 6.0% | 26.6% | ||
| Q3 25 | 7.3% | 9.6% | ||
| Q2 25 | 5.6% | 7.8% | ||
| Q1 25 | 7.6% | 7.5% | ||
| Q4 24 | 6.7% | 7.9% | ||
| Q3 24 | 9.2% | 6.1% | ||
| Q2 24 | 8.9% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $1.36 | $1.75 | ||
| Q3 25 | $1.82 | $0.71 | ||
| Q2 25 | $1.45 | $0.54 | ||
| Q1 25 | $2.00 | $0.49 | ||
| Q4 24 | $1.84 | $0.55 | ||
| Q3 24 | $2.48 | $0.40 | ||
| Q2 24 | $2.43 | $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 | — | — |
| Total DebtLower is stronger | $39.8B | $488.8M |
| Stockholders' EquityBook value | $186.4B | $1.1B |
| Total Assets | $324.0B | $2.6B |
| Debt / EquityLower = less leverage | 0.21× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $695.9M | ||
| Q3 25 | — | $7.0M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $7.0M | ||
| Q4 24 | — | $504.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | $4.0B | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $39.8B | $487.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $20.1B | $482.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $186.4B | $1.1B | ||
| Q3 25 | $189.8B | $907.7M | ||
| Q2 25 | $146.4B | $842.1M | ||
| Q1 25 | $149.2B | $773.1M | ||
| Q4 24 | $152.3B | $714.3M | ||
| Q3 24 | $156.2B | $698.0M | ||
| Q2 24 | $159.2B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $324.0B | $2.7B | ||
| Q3 25 | $326.5B | $2.5B | ||
| Q2 25 | $250.8B | $2.3B | ||
| Q1 25 | $256.4B | $2.3B | ||
| Q4 24 | $256.9B | $2.3B | ||
| Q3 24 | $259.2B | $2.4B | ||
| Q2 24 | $260.6B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.21× | 0.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.13× | 0.67× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $10.8B | — |
| Free Cash FlowOCF − Capex | $5.5B | $-76.5M |
| FCF MarginFCF / Revenue | 12.1% | -11.1% |
| Capex IntensityCapex / Revenue | 11.5% | 2.5% |
| Cash ConversionOCF / Net Profit | 3.89× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.6B | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $10.8B | $221.1M | ||
| Q3 25 | $9.4B | $101.3M | ||
| Q2 25 | $8.6B | $77.2M | ||
| Q1 25 | $5.2B | $-80.7M | ||
| Q4 24 | $8.7B | $128.4M | ||
| Q3 24 | $9.7B | $91.9M | ||
| Q2 24 | $6.3B | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $5.5B | $190.7M | ||
| Q3 25 | $4.9B | $77.0M | ||
| Q2 25 | $4.9B | $46.9M | ||
| Q1 25 | $1.3B | $-106.8M | ||
| Q4 24 | $4.4B | $94.5M | ||
| Q3 24 | $5.6B | $67.0M | ||
| Q2 24 | $2.3B | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | 12.1% | 28.5% | ||
| Q3 25 | 10.3% | 10.4% | ||
| Q2 25 | 11.0% | 6.7% | ||
| Q1 25 | 2.7% | -15.8% | ||
| Q4 24 | 9.0% | 13.2% | ||
| Q3 24 | 11.5% | 9.9% | ||
| Q2 24 | 4.7% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 11.5% | 4.6% | ||
| Q3 25 | 9.2% | 3.3% | ||
| Q2 25 | 8.4% | 4.3% | ||
| Q1 25 | 8.5% | 3.9% | ||
| Q4 24 | 9.0% | 4.7% | ||
| Q3 24 | 8.3% | 3.7% | ||
| Q2 24 | 8.0% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.89× | 1.24× | ||
| Q3 25 | 2.65× | 1.42× | ||
| Q2 25 | 3.44× | 1.42× | ||
| Q1 25 | 1.48× | -1.60× | ||
| Q4 24 | 2.68× | 2.29× | ||
| Q3 24 | 2.16× | 2.23× | ||
| Q2 24 | 1.42× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVX
| Other | $17.5B | 38% |
| Downstream Segment | $16.8B | 37% |
| Upstream Segment | $11.5B | 25% |
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% |
