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Side-by-side financial comparison of Elanco Animal Health Inc (ELAN) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
Elanco Animal Health Inc is the larger business by last-quarter revenue ($1.1B vs $692.4M, roughly 1.7× OCEANEERING INTERNATIONAL INC). OCEANEERING INTERNATIONAL INC runs the higher net margin — 5.2% vs -24.1%, a 29.3% gap on every dollar of revenue. On growth, Elanco Animal Health Inc posted the faster year-over-year revenue change (12.2% vs 2.7%). Elanco Animal Health Inc produced more free cash flow last quarter ($46.0M vs $-76.5M). Over the past eight quarters, OCEANEERING INTERNATIONAL INC's revenue compounded faster (1.8% CAGR vs -2.6%).
Elanco Animal Health Incorporated is an American pharmaceutical company which produces medicines and vaccinations for pets and livestock. Until 2019, the company was a subsidiary of Eli Lilly and Company, before being divested. It is the third-largest animal health company in the world.
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.
ELAN vs OII — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $692.4M |
| Net Profit | $-276.0M | $36.1M |
| Gross Margin | 51.5% | — |
| Operating Margin | -22.6% | — |
| Net Margin | -24.1% | 5.2% |
| Revenue YoY | 12.2% | 2.7% |
| Net Profit YoY | -3350.0% | -79.7% |
| EPS (diluted) | $-0.55 | $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 | $1.1B | $668.6M | ||
| Q3 25 | $1.1B | $742.9M | ||
| Q2 25 | $1.2B | $698.2M | ||
| Q1 25 | $1.2B | $674.5M | ||
| Q4 24 | $1.0B | $713.5M | ||
| Q3 24 | $1.0B | $679.8M | ||
| Q2 24 | $1.2B | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $-276.0M | $177.7M | ||
| Q3 25 | $-34.0M | $71.3M | ||
| Q2 25 | $11.0M | $54.4M | ||
| Q1 25 | $67.0M | $50.4M | ||
| Q4 24 | $-8.0M | $56.1M | ||
| Q3 24 | $364.0M | $41.2M | ||
| Q2 24 | $-50.0M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 51.5% | 19.8% | ||
| Q3 25 | 53.4% | 20.6% | ||
| Q2 25 | 57.5% | 21.3% | ||
| Q1 25 | 57.3% | 20.0% | ||
| Q4 24 | 50.9% | 19.9% | ||
| Q3 24 | 52.2% | 19.3% | ||
| Q2 24 | 58.2% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | -22.6% | 9.8% | ||
| Q3 25 | -4.4% | 11.6% | ||
| Q2 25 | 2.0% | 11.3% | ||
| Q1 25 | 5.0% | 10.9% | ||
| Q4 24 | -5.0% | 10.9% | ||
| Q3 24 | 54.3% | 10.5% | ||
| Q2 24 | -2.7% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | -24.1% | 26.6% | ||
| Q3 25 | -3.0% | 9.6% | ||
| Q2 25 | 0.9% | 7.8% | ||
| Q1 25 | 5.6% | 7.5% | ||
| Q4 24 | -0.8% | 7.9% | ||
| Q3 24 | 35.3% | 6.1% | ||
| Q2 24 | -4.2% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $-0.55 | $1.75 | ||
| Q3 25 | $-0.07 | $0.71 | ||
| Q2 25 | $0.02 | $0.54 | ||
| Q1 25 | $0.13 | $0.49 | ||
| Q4 24 | $-0.01 | $0.55 | ||
| Q3 24 | $0.73 | $0.40 | ||
| Q2 24 | $-0.10 | $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 | $545.0M | — |
| Total DebtLower is stronger | $3.9B | $488.8M |
| Stockholders' EquityBook value | $6.5B | $1.1B |
| Total Assets | $13.4B | $2.6B |
| Debt / EquityLower = less leverage | 0.60× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $545.0M | $695.9M | ||
| Q3 25 | $505.0M | $7.0M | ||
| Q2 25 | $539.0M | $7.0M | ||
| Q1 25 | $487.0M | $7.0M | ||
| Q4 24 | $468.0M | $504.5M | ||
| Q3 24 | $490.0M | — | ||
| Q2 24 | $416.0M | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $3.9B | $487.4M | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.1B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.3B | $482.0M | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $5.7B | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $6.5B | $1.1B | ||
| Q3 25 | $6.7B | $907.7M | ||
| Q2 25 | $6.8B | $842.1M | ||
| Q1 25 | $6.4B | $773.1M | ||
| Q4 24 | $6.1B | $714.3M | ||
| Q3 24 | $6.5B | $698.0M | ||
| Q2 24 | $5.9B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $13.4B | $2.7B | ||
| Q3 25 | $13.6B | $2.5B | ||
| Q2 25 | $13.7B | $2.3B | ||
| Q1 25 | $12.9B | $2.3B | ||
| Q4 24 | $12.6B | $2.3B | ||
| Q3 24 | $13.3B | $2.4B | ||
| Q2 24 | $13.8B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.60× | 0.46× | ||
| Q3 25 | 0.59× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | 0.67× | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.96× | — |
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 | $108.0M | — |
| Free Cash FlowOCF − Capex | $46.0M | $-76.5M |
| FCF MarginFCF / Revenue | 4.0% | -11.1% |
| Capex IntensityCapex / Revenue | 5.4% | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $284.0M | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.0M | $221.1M | ||
| Q3 25 | $219.0M | $101.3M | ||
| Q2 25 | $237.0M | $77.2M | ||
| Q1 25 | $-4.0M | $-80.7M | ||
| Q4 24 | $177.0M | $128.4M | ||
| Q3 24 | $162.0M | $91.9M | ||
| Q2 24 | $200.0M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $46.0M | $190.7M | ||
| Q3 25 | $127.0M | $77.0M | ||
| Q2 25 | $180.0M | $46.9M | ||
| Q1 25 | $-69.0M | $-106.8M | ||
| Q4 24 | $130.0M | $94.5M | ||
| Q3 24 | $120.0M | $67.0M | ||
| Q2 24 | $166.0M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | 4.0% | 28.5% | ||
| Q3 25 | 11.2% | 10.4% | ||
| Q2 25 | 14.5% | 6.7% | ||
| Q1 25 | -5.8% | -15.8% | ||
| Q4 24 | 12.7% | 13.2% | ||
| Q3 24 | 11.7% | 9.9% | ||
| Q2 24 | 14.0% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 5.4% | 4.6% | ||
| Q3 25 | 8.1% | 3.3% | ||
| Q2 25 | 4.6% | 4.3% | ||
| Q1 25 | 5.4% | 3.9% | ||
| Q4 24 | 4.6% | 4.7% | ||
| Q3 24 | 4.1% | 3.7% | ||
| Q2 24 | 2.9% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.24× | ||
| Q3 25 | — | 1.42× | ||
| Q2 25 | 21.55× | 1.42× | ||
| Q1 25 | -0.06× | -1.60× | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | 0.45× | 2.23× | ||
| Q2 24 | — | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
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% |
