This study presents a systematic analysis of the stability and roll characteristics of an Oscillating Water Column (OWC) wave energy buoy. By integrating theoretical derivation and AQWA simulation, the research identifies thirteen possible heeling states of OWC buoy, focusing on five representative states applicable to the current design. A novel segmented-integration model is proposed to compute the centre of buoyancy and righting moment for the hollow-annular OWC buoy, accurately capturing the evolution of static and dynamic stability across heel angles from 0° to 90°. Results show that the buoy has an initial metacentric height of 0.33 m, a maximum righting arm of 0.713 m, a limiting static heel angle of 77°, and a minimum capsizing moment of 22,887 N·m—all significantly exceeding regulatory requirements. The roll natural period ranges from 5.8 to 7.7 s, with a tuning factor above 1.3, effectively avoiding resonance with typical wave periods in the target sea area. The buoy demonstrates excellent dynamic stability and capsize resistance. This study fills a gap in OWC buoy stability analysis and provides a practical guidance for the safe design of wave energy devices.
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