Oil States International IncOil States International Inc
Oil States International Inc

Oil States International Inc

OIS
Energy·Energy Equipment & Services

Oil States International, Inc. engages in the provision of manufactured products and services used in the drilling, completion, subsea, production, and infrastructure sectors of the oil and natural gas industry, as well as in the industrial and military sectors. It operates through the following segments: Offshore Manufactured Products, Completion and Production Services, and Downhole Technologies. The Offshore Manufactured Products segment is involved in the design, manufacture, and market of capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels, along with short-cycle, and other products. The Completion and Production Services segment focuses on the provision of equipment and services that are used to establish and maintain the flow of oil and natural gas from a well throughout its life cycle. The Downhole Technologies segment refers to the provision of oil and gas perforation systems and downhole tools in support of completion, intervention, wireline, and well abandonment operations. The company was founded in July 1995 and is headquartered in Houston, TX.

Texas; U.S.A
Market cap
$494MNo data
Revenue
$669M−3.4% YoY
Net income
$-109.4M−871.5% YoY
Free cash flow
$73.9M+781.6% YoY

Market

Listed stock
OISPriceNYSE
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Financial performance

Revenue
$669M−3.4% YoY
Operating income
$-98M−5700.5% YoY
Net income
$-109.4M−871.5% YoY
Free cash flow
$73.9M+781.6% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $573.2M, 2022 $737.7M, 2023 $782.3M, 2024 $692.6M, 2025 $669M. Operating income: 2021 $-64.8M, 2022 $2.9M, 2023 $23.2M, 2024 $-1.7M, 2025 $-98M. Net income: 2021 $-64M, 2022 $-9.5M, 2023 $12.9M, 2024 $-11.3M, 2025 $-109.4M. Free cash flow: 2021 $-10.3M, 2022 $12.6M, 2023 $25.9M, 2024 $8.4M, 2025 $73.9M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-3.4%+806 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-64.8M, 2022-12-31 $2.9M, 2023-12-31 $23.2M, 2024-12-31 $-1.7M, 2025-12-31 $-98M. Net income: 2021-12-31 $-64M, 2022-12-31 $-9.5M, 2023-12-31 $12.9M, 2024-12-31 $-11.3M, 2025-12-31 $-109.4M. Free cash flow: 2021-12-31 $-10.3M, 2022-12-31 $12.6M, 2023-12-31 $25.9M, 2024-12-31 $8.4M, 2025-12-31 $73.9M

Growth heatmap

2022202320242025CAGR
Revenue
+28.7%
+6.0%
-11.5%
-3.4%
+3.9%
Gross profit
+54.9%
+10.2%
-10.8%
-14.8%
+6.7%
Operating income
+104.5%
+697.4%
-107.3%
-5700.5%
No data
Free cash flow
+222.0%
+105.8%
-67.6%
+781.6%
No data

Earnings quality

Operating cash flow
$105.1M+129.1% YoY
Net income
$-109.4M−871.5% YoY
Free cash flow
$73.9M+781.6% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 -96%, 2024-12-31 -408%, 2023-12-31 439%, 2022-12-31 -344%, 2021-12-31 -11%. Free cash flow: 2025-12-31 -68%, 2024-12-31 -74%, 2023-12-31 201%, 2022-12-31 -132%, 2021-12-31 16%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data