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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Warning Sign:
Beneish M-Score -1.65 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Oceaneering International's Beneish M-Score or its related term are showing as below:
FRA:OII'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.77 Med: -2.66 Max: -1.65
Current: -1.65
During the past 13 years, the highest Beneish M-Score of Oceaneering International was -1.65. The lowest was -3.77. And the median was -2.66.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:OII vs KGS, AROC, WFRD: Beneish M-Score Comparison
For the Oil & Gas Equipment & Services subindustry, Oceaneering International's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Oceaneering International Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Oceaneering International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Oceaneering International's Beneish M-Score falls into.
Oceaneering International Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Oceaneering International for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.0308
+
0.528 * 1.0142
+
0.404 * 2.8032
+
0.892 * 0.9788
+
0.115 * 0.6543
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0281
+
4.679 * 0.012332
-
0.327 * 0.7595
=
-1.64
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(91.409 / (91.409 + 632.4))
/
(92.015 / (92.015 + 384.723))
=
0.126289
/
0.19301
=
0.6543
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(300.12 - -0.564
-
271.902)
/
2333.911
=
0.012332
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Oceaneering International has a M-score of -1.64 signals that the company is likely to be a manipulator.
Oceaneering International (FRA:OII) has a Beneish M-Score of -1.65 as of Aug. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Oceaneering International and its competitors. According to the industry distribution chart, Oceaneering International ranks #715 out of 820 companies in the Oil & Gas industry, placing it in the top 87.2%.
Is Oceaneering International's Beneish M-Score too high?
Oceaneering International's current Beneish M-Score is -1.65. Based on the distribution chart, Oceaneering International ranks #715 out of 820 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Oceaneering International has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Oceaneering International's Beneish M-Score compare to KGS and AROC?
According to the Oil & Gas industry distribution chart, Oceaneering International ranks #715 out of 820 companies for Beneish M-Score. This places Oceaneering International in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Oceaneering International and its competitors. Oceaneering International's current Beneish M-Score is -1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oceaneering International stock overvalued right now?
Based on GuruFocus' analysis, Oceaneering International (FRA:OII) is currently considered Significantly Overvalued. The stock's GF Value™ is €24.13, compared to a current price of €42.20 — trading 74.9% above its estimated fair value. The current Beneish M-Score is -1.65. Oceaneering International's overall GF Score™ is 67/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Oceaneering International (FRA:OII), the current Beneish M-Score is -1.65 as of Aug. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Oceaneering International (FRA:OII) Overvalued in 2026?
Based on GuruFocus' analysis, Oceaneering International stock appears to be overvalued.
The current stock price of €42.20 is trading 74.9% above its estimated GF Value™ of €24.13.
GuruFocus considers Oceaneering International to be Significantly Overvalued.
Key valuation signals for FRA:OII:
Beneish M-Score: -1.65
GF Value™: €24.13 vs. price of €42.20 (74.9% above fair value)
No single metric tells the full story. See the FRA:OII stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Oceaneering International Inc is a provider of engineered services and products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries. A majority of its products are produced for the offshore oil and gas market. The company's business segments are Integrity Management and Digital Solutions, Subsea Robotics, Manufactured Products, Offshore Projects Group, and Aerospace and Defense Technologies. Maximum revenue is generated from its Subsea Robotics segment, which provides remotely operated vehicles (ROVs) for drill support and vessel-based services, underwater surveys, tooling, and other activities. Geographically, the company derives its key revenue from the United States, followed by Africa, Norway, Brazil, and other regions.
67GF Score
Get the complete analysis for FRA:OII
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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