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Side-by-side financial comparison of North American Construction Group Ltd. (NOA) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
North American Construction Group Ltd. is the larger business by last-quarter revenue ($860.2M vs $692.4M, roughly 1.2× OCEANEERING INTERNATIONAL INC). OCEANEERING INTERNATIONAL INC runs the higher net margin — 5.2% vs 4.7%, a 0.5% gap on every dollar of revenue. Over the past eight quarters, North American Construction Group Ltd.'s revenue compounded faster (58.0% CAGR vs 1.8%).
Shanghai Construction (Group) Corporation (SCG) is a Chinese construction and engineering company, ranked as the 16th largest construction company in the world based on 2011 revenues.
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.
NOA vs OII — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $860.2M | $692.4M |
| Net Profit | $40.5M | $36.1M |
| Gross Margin | 19.7% | — |
| Operating Margin | 15.4% | — |
| Net Margin | 4.7% | 5.2% |
| Revenue YoY | — | 2.7% |
| Net Profit YoY | — | -79.7% |
| EPS (diluted) | — | $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 | — | $668.6M | ||
| Q3 25 | $860.2M | $742.9M | ||
| Q2 25 | $573.3M | $698.2M | ||
| Q1 25 | $297.0M | $674.5M | ||
| Q4 24 | — | $713.5M | ||
| Q3 24 | $636.4M | $679.8M | ||
| Q2 24 | $439.5M | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | — | $177.7M | ||
| Q3 25 | $40.5M | $71.3M | ||
| Q2 25 | $26.0M | $54.4M | ||
| Q1 25 | $11.5M | $50.4M | ||
| Q4 24 | — | $56.1M | ||
| Q3 24 | $45.5M | $41.2M | ||
| Q2 24 | $34.1M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.8% | ||
| Q3 25 | 19.7% | 20.6% | ||
| Q2 25 | 18.1% | 21.3% | ||
| Q1 25 | 18.0% | 20.0% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | 14.0% | 19.3% | ||
| Q2 24 | 14.3% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.8% | ||
| Q3 25 | 15.4% | 11.6% | ||
| Q2 25 | 13.6% | 11.3% | ||
| Q1 25 | 13.0% | 10.9% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | 7.9% | 10.5% | ||
| Q2 24 | 8.2% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | — | 26.6% | ||
| Q3 25 | 4.7% | 9.6% | ||
| Q2 25 | 4.5% | 7.8% | ||
| Q1 25 | 3.9% | 7.5% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 7.1% | 6.1% | ||
| Q2 24 | 7.8% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | — | $1.75 | ||
| Q3 25 | — | $0.71 | ||
| Q2 25 | — | $0.54 | ||
| Q1 25 | — | $0.49 | ||
| Q4 24 | — | $0.55 | ||
| Q3 24 | — | $0.40 | ||
| Q2 24 | — | $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 | — | $488.8M |
| Stockholders' EquityBook value | — | $1.1B |
| Total Assets | $1.7B | $2.6B |
| Debt / EquityLower = less leverage | — | 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 | — | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | — | $487.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $482.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $907.7M | ||
| Q2 25 | — | $842.1M | ||
| Q1 25 | — | $773.1M | ||
| Q4 24 | — | $714.3M | ||
| Q3 24 | — | $698.0M | ||
| Q2 24 | — | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | $1.7B | $2.5B | ||
| Q2 25 | $1.7B | $2.3B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.5B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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 | $140.7M | — |
| Free Cash FlowOCF − Capex | — | $-76.5M |
| FCF MarginFCF / Revenue | — | -11.1% |
| Capex IntensityCapex / Revenue | — | 2.5% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $221.1M | ||
| Q3 25 | $140.7M | $101.3M | ||
| Q2 25 | $85.4M | $77.2M | ||
| Q1 25 | $19.0M | $-80.7M | ||
| Q4 24 | — | $128.4M | ||
| Q3 24 | $109.5M | $91.9M | ||
| Q2 24 | $72.0M | $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 | — | 1.24× | ||
| Q3 25 | 3.47× | 1.42× | ||
| Q2 25 | 3.28× | 1.42× | ||
| Q1 25 | 1.65× | -1.60× | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | 2.41× | 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
NOA
Segment breakdown not available.
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% |
