Tearsheet
OMEX Home Investment Highlights Valuation, Metrics & Events Price Chart Why The Stock Moved Return vs. Risk About OMEX Interactive Breakdown Better Bets vs. OMEX Latest Trefis Analyses Trade Ideas More From Trefis Peer Comparisons FDIC Bank Data FDA Approved Drugs Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Trade Sentinel Industry Resource Links External Quote Links

Odyssey Marine Exploration (OMEX)

Market Price (3/15/2026): $1.53 | Market Cap: $63.6 Mil
Sector: Materials | Industry: Diversified Metals & Mining

Odyssey Marine Exploration (OMEX)

Market Price (3/15/2026): $1.53
Market Cap: $63.6 Mil
Sector: Materials
Industry: Diversified Metals & Mining

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Megatrend and thematic drivers
Megatrends include Ocean Economy. Themes include Deep-Sea Mineral Exploration, Marine Salvage & Underwater Archaeology, and Ocean Data & Mapping. 		Weak multi-year price returns
2Y Excs Rtn is -98%, 3Y Excs Rtn is -121%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -10 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2170%
1   Expensive valuation multiples
P/SPrice/Sales ratio is 136x
2   Stock price has recently run up significantly
12M Rtn12 month market price return is 295%
3   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -42%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -28%, Rev Chg QQuarterly Revenue Change % is -71%
4   Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 103%
5   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1669%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1669%
6   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -52%
7   High stock price volatility
Vol 12M is 185%
0 Megatrend and thematic drivers
Megatrends include Ocean Economy. Themes include Deep-Sea Mineral Exploration, Marine Salvage & Underwater Archaeology, and Ocean Data & Mapping.
1 Weak multi-year price returns
2Y Excs Rtn is -98%, 3Y Excs Rtn is -121%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -10 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2170%
3 Expensive valuation multiples
P/SPrice/Sales ratio is 136x
4 Stock price has recently run up significantly
12M Rtn12 month market price return is 295%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -42%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -28%, Rev Chg QQuarterly Revenue Change % is -71%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 103%
7 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1669%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1669%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -52%
9 High stock price volatility
Vol 12M is 185%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Odyssey Marine Exploration (OMEX) stock has lost about 25% since 11/30/2025 because of the following key factors:

1. Odyssey Marine Exploration continued to report significant financial losses with minimal operational revenue, fueling investor concerns. The company posted a Q3 2025 Earnings Per Share (EPS) of -$0.31 and a net loss of -$13.07 million, indicating ongoing unprofitability. As of September 30, 2025, the trailing twelve-month revenue stood at only $467,000, reinforcing the lack of commercialized projects and direct revenue generation from its core business activities.

2. The stock maintained a high-risk profile and was perceived as overvalued by analysts, contributing to negative sentiment. Despite some projections of over 200% sales growth for fiscal year 2025, the stock was deemed overvalued at its current levels and exhibited high price volatility. This assessment, coupled with a consensus "Sell" rating from analysts, highlights a cautious outlook on its valuation and future prospects. The company has also been noted for "severe liquidity issues" and "negative equity".

Show more

Stock Movement Drivers

Fundamental Drivers

The -25.7% change in OMEX stock from 11/30/2025 to 3/13/2026 was primarily driven by a -25.7% change in the company's P/S Multiple.
(LTM values as of)113020253132026Change
Stock Price ($)2.061.53-25.7%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple183.4136.2-25.7%
Shares Outstanding (Mil)42420.0%
Cumulative Contribution-25.7%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/13/2026
ReturnCorrelation
OMEX-25.7% 
Market (SPY)-3.1%40.6%
Sector (XLB)10.0%33.5%

Fundamental Drivers

The -21.9% change in OMEX stock from 8/31/2025 to 3/13/2026 was primarily driven by a -26.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)83120253132026Change
Stock Price ($)1.961.53-21.9%
Change Contribution By: 
Total Revenues ($ Mil)10-24.7%
P/S Multiple97.2136.240.1%
Shares Outstanding (Mil)3142-26.0%
Cumulative Contribution-21.9%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/13/2026
ReturnCorrelation
OMEX-21.9% 
Market (SPY)3.0%29.7%
Sector (XLB)7.1%33.8%

Fundamental Drivers

The 266.0% change in OMEX stock from 2/28/2025 to 3/13/2026 was primarily driven by a 1402.8% change in the company's P/S Multiple.
(LTM values as of)22820253132026Change
Stock Price ($)0.421.53266.0%
Change Contribution By: 
Total Revenues ($ Mil)10-49.4%
P/S Multiple9.1136.21402.8%
Shares Outstanding (Mil)2042-51.8%
Cumulative Contribution266.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/13/2026
ReturnCorrelation
OMEX266.0% 
Market (SPY)12.4%19.3%
Sector (XLB)12.5%20.0%

Fundamental Drivers

The -51.7% change in OMEX stock from 2/28/2023 to 3/13/2026 was primarily driven by a -64.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820233132026Change
Stock Price ($)3.171.53-51.7%
Change Contribution By: 
Total Revenues ($ Mil)10-64.0%
P/S Multiple47.6136.2186.4%
Shares Outstanding (Mil)1942-53.1%
Cumulative Contribution-51.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/13/2026
ReturnCorrelation
OMEX-51.7% 
Market (SPY)73.4%8.6%
Sector (XLB)26.8%9.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
OMEX Return-27%-25%20%-85%172%-16%-77%
Peers Return-4%87%48%-10%83%40%511%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
OMEX Win Rate25%42%67%25%42%33% 
Peers Win Rate53%62%53%38%57%67% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
OMEX Max Drawdown-28%-54%-27%-93%-59%-27% 
Peers Max Drawdown-23%-29%-11%-27%-34%-2% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: TMC, RIG, OII, HLX, TDW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventOMEXS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-71.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven255.7%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-36.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven56.1%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven40 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-72.0%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven257.4%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-83.4%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven502.9%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1,480 days

Compare to TMC, RIG, OII, HLX, TDW

In The Past

Odyssey Marine Exploration's stock fell -71.9% during the 2022 Inflation Shock from a high on 2/12/2021. A -71.9% loss requires a 255.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Odyssey Marine Exploration (OMEX)

Odyssey Marine Exploration, Inc., together with its subsidiaries, engages in the deep-ocean exploration activities worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. It offers research, scientific, resource assessment, marine operations planning, management execution, project planning, and project management services. Odyssey Marine Exploration, Inc. was founded in 1986 and is headquartered in Tampa, Florida.

AI Analysis | Feedback

Here are a few analogies for Odyssey Marine Exploration (OMEX):

  • BHP Group for deep-ocean minerals

  • Schlumberger for deep-ocean projects

AI Analysis | Feedback

  • Deep-Ocean Exploration: The company conducts deep-ocean exploration activities globally for various purposes.
  • Specialized Mineral Exploration: They provide services focused on the exploration and identification of deep-sea mineral resources.
  • Marine Project Development & Management: Odyssey offers services for planning, developing, and managing complex marine projects for clients.
  • Marine Research & Scientific Services: This includes providing research, scientific analysis, and resource assessment services in marine environments.
  • Marine Operations Services: The company provides planning and execution management for various marine operations.

AI Analysis | Feedback

Odyssey Marine Exploration (OMEX) primarily sells its specialized services and partners in resource development to other companies and governmental entities rather than directly to individuals. Due to the project-based and often confidential nature of their work, specific major customer names, particularly public companies, are not typically disclosed in their public filings as consistent, recurring major revenue sources.

Based on their business description, OMEX serves the following categories of clients:

  • Mining and Resource Development Companies: These clients are typically corporations or joint ventures focused on identifying, exploring, and potentially extracting deep-sea mineral resources such as polymetallic nodules, seafloor massive sulfides, or phosphate deposits. They engage OMEX for its specialized expertise, technology, and operational capabilities in deep-ocean exploration and project development.
  • Governmental Agencies: National governments and their relevant agencies (e.g., environmental ministries, natural resource departments, maritime authorities) contract OMEX for services like resource assessment, environmental impact studies, marine spatial planning, and scientific research within their Exclusive Economic Zones. An example of a significant entity they deal with is the Government of Mexico, particularly concerning marine phosphate projects.
  • Scientific and Research Institutions: Universities, oceanographic institutes, and other research organizations may utilize OMEX's vessels, remotely operated vehicles (ROVs), and deep-ocean operational experience for various scientific endeavors, including marine biology studies, geological surveys, and archaeological projects.

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

A clear emerging threat for Odyssey Marine Exploration (OMEX) is the increasing global push for moratoriums and outright bans on deep-sea mining and exploration due to environmental concerns. Growing scientific and public opposition, along with calls from various governments and international bodies for a precautionary pause or ban on such activities, directly threatens the fundamental viability and expansion of the deep-sea mineral exploration industry, thereby impacting OMEX's core business model and future project opportunities.

AI Analysis | Feedback

null

AI Analysis | Feedback

null

AI Analysis | Feedback

null

Better Bets vs. Odyssey Marine Exploration (OMEX)

Latest Trefis Analyses

Title
0ARTICLES

Trade Ideas

Select ideas related to OMEX.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
IP_1312026_Insider_Buying_45D_2Buy_200K01312026IPInternational PaperInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		9.1%9.1%0.0%
B_1302026_Quality_Momentum_RoomToRun_10%01302026BBarrick MiningQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		11.7%11.7%-4.0%
AMR_12312025_Insider_Buying_45D_2Buy_200K12312025AMRAlpha Metallurgical ResourcesInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days		-18.6%-18.6%-18.6%
EMN_12262025_Dip_Buyer_ValueBuy12262025EMNEastman ChemicalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		18.9%18.9%0.0%
AMCR_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V212122025AMCRAmcorInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		19.2%19.2%-0.5%

Recent Active Movers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons

Peers to compare with:

Financials

OMEXTMCRIGOIIHLXTDWMedian
NameOdyssey .TMC The .Transoce.Oceaneer.Helix En.Tidewater 
Mkt Price1.535.976.3633.288.8276.767.59
Mkt Cap0.12.47.03.31.33.82.9
Rev LTM003,9652,7841,2911,3531,322
Op Inc LTM-10-11270530583277180
FCF LTM-8-45626208120353164
FCF 3Y Avg-8-52185138139227138
CFO LTM-8-45749319137379228
CFO 3Y Avg-7-51453244158255201

Growth & Margins

OMEXTMCRIGOIIHLXTDWMedian
NameOdyssey .TMC The .Transoce.Oceaneer.Helix En.Tidewater 
Rev Chg LTM-41.5%-12.5%4.6%-4.9%0.5%0.5%
Rev Chg 3Y Avg-28.0%-15.6%10.6%16.0%29.9%15.6%
Rev Chg Q-71.5%-9.6%-6.3%-5.9%-2.4%-5.9%
QoQ Delta Rev Chg LTM-24.7%-2.3%-1.6%-1.6%-0.6%-1.6%
Op Mgn LTM-2,169.7%-17.8%10.9%6.4%20.5%10.9%
Op Mgn 3Y Avg-1,707.2%-8.4%9.2%8.0%19.9%8.4%
QoQ Delta Op Mgn LTM-416.2%-2.3%-0.3%0.0%-0.8%-0.3%
CFO/Rev LTM-1,669.1%-18.9%11.5%10.6%28.0%11.5%
CFO/Rev 3Y Avg-981.7%-12.5%9.2%12.0%19.8%12.0%
FCF/Rev LTM-1,669.1%-15.8%7.5%9.3%26.1%9.3%
FCF/Rev 3Y Avg-1,109.8%-4.0%5.2%10.5%17.4%5.2%

Valuation

OMEXTMCRIGOIIHLXTDWMedian
NameOdyssey .TMC The .Transoce.Oceaneer.Helix En.Tidewater 
Mkt Cap0.12.47.03.31.33.82.9
P/S136.2-1.81.21.02.81.8
P/EBIT-1.9-8.3-2.910.317.213.34.2
P/E-2.1-8.2-2.49.442.111.43.6
P/CFO-8.2-53.59.410.49.510.09.4
Total Yield-48.2%-12.2%-41.4%10.7%2.4%8.8%-4.9%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-8.5%-11.5%4.8%5.8%11.1%8.3%5.3%
D/E0.20.00.80.30.50.20.2
Net D/E0.1-0.00.80.10.10.00.1

Returns

OMEXTMCRIGOIIHLXTDWMedian
NameOdyssey .TMC The .Transoce.Oceaneer.Helix En.Tidewater 
1M Rtn-7.8%-8.0%6.0%-2.9%-0.3%7.9%-1.6%
3M Rtn-34.9%-10.1%54.0%27.8%25.6%37.8%26.7%
6M Rtn-14.5%8.2%92.7%37.2%41.8%29.6%33.4%
12M Rtn294.9%245.1%123.2%70.1%12.1%92.2%107.7%
3Y Rtn-55.8%580.0%-0.5%84.0%13.7%76.9%45.3%
1M Excs Rtn-5.4%-5.6%8.4%-0.6%2.0%10.3%0.7%
3M Excs Rtn-28.5%-11.2%49.5%23.6%23.3%35.9%23.4%
6M Excs Rtn-14.9%12.6%92.2%31.6%36.3%26.2%28.9%
12M Excs Rtn278.0%214.4%92.4%50.9%-9.9%69.7%81.1%
3Y Excs Rtn-121.2%466.1%-80.2%-11.4%-65.7%-17.6%-41.6%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment1    
Marine services 1112
Other services 0011
Total11123


Net Income by Segment
$ Mil20242023202220212020
Single Segment-4    
Total-4    


Price Behavior

Price Behavior
Market Price$1.53 
Market Cap ($ Bil)0.1 
First Trading Date10/26/1999 
Distance from 52W High-62.9% 
   50 Days200 Days
DMA Price$1.85$1.83
DMA Trendupdown
Distance from DMA-17.1%-16.4%
 3M1YR
Volatility89.5%185.8%
Downside Capture500.03234.46
Upside Capture324.78333.18
Correlation (SPY)41.5%19.0%
OMEX Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta4.273.003.112.721.750.97
Up Beta5.563.512.271.721.591.21
Down Beta2.671.511.962.520.800.50
Up Capture177%226%318%310%1050%31%
Bmk +ve Days9203170142431
Stock +ve Days7152553111331
Down Capture596%407%381%259%146%104%
Bmk -ve Days12213054109320
Stock -ve Days13233366132396

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with OMEX
OMEX285.0%185.8%1.45-
Sector ETF (XLB)17.6%20.6%0.6819.8%
Equity (SPY)19.6%18.9%0.8119.0%
Gold (GLD)71.9%26.3%2.0518.0%
Commodities (DBC)19.3%17.3%0.8912.2%
Real Estate (VNQ)6.2%16.3%0.198.8%
Bitcoin (BTCUSD)-15.3%44.2%-0.2520.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with OMEX
OMEX-27.0%142.0%0.42-
Sector ETF (XLB)7.2%18.8%0.288.5%
Equity (SPY)13.1%17.0%0.617.6%
Gold (GLD)24.1%17.3%1.146.6%
Commodities (DBC)11.2%19.0%0.472.7%
Real Estate (VNQ)4.8%18.8%0.164.0%
Bitcoin (BTCUSD)6.3%56.7%0.333.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with OMEX
OMEX-10.6%119.7%0.44-
Sector ETF (XLB)10.7%20.6%0.466.4%
Equity (SPY)14.5%17.9%0.705.9%
Gold (GLD)14.4%15.6%0.774.2%
Commodities (DBC)8.6%17.6%0.402.9%
Real Estate (VNQ)5.6%20.7%0.233.4%
Bitcoin (BTCUSD)67.4%66.8%1.073.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity2.5 Mil
Short Interest: % Change Since 2152026-2.1%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest5.3 days
Basic Shares Quantity41.6 Mil
Short % of Basic Shares6.0%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
SUMMARY STATS   
# Positive000
# Negative000
Median Positive   
Median Negative   
Max Positive   
Max Negative   

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202511/12/202510-Q
06/30/202508/19/202510-Q
03/31/202505/12/202510-Q
12/31/202403/31/202510-K
09/30/202411/13/202410-Q
06/30/202408/08/202410-Q
03/31/202405/20/202410-Q
12/31/202305/17/202410-K
06/30/202308/14/202310-Q
03/31/202305/12/202310-Q
12/31/202203/31/202310-K
09/30/202211/15/202210-Q
06/30/202208/15/202210-Q
03/31/202205/16/202210-Q
12/31/202103/31/202210-K
09/30/202111/15/202110-Q

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Gordon, MarkChief Executive OfficerDirectSell102020253.8730,000116,0432,097,419Form
2Gordon, MarkChief Executive OfficerDirectSell102020253.5030,000105,0001,792,822Form
3Gordon, MarkChief Executive OfficerDirectSell102020253.5630,000106,9021,718,396Form
4Longley, John D JrPresident & COODirectSell101520253.5038,977136,420783,598Form
5Longley, John D JrPresident & COODirectSell101520253.72217,072808,509559,858Form

External Quote Links


Prefer one of these to Trefis? Tell us why.