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Oil States International, Inc., through its subsidiaries, provides engineered capital equipment and consumable products for energy, industrial, and military sectors worldwide. The company operates through three segments, Completion and Production Services, Downhole Technologies, and Offshore Manufactured Products. The Completion and Production Services segment offers a range 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 provides oil and gas perforation systems, and downhole tools in support of completion, intervention, wireline, and well abandonment operations. This segment also designs, manufactures, and markets its consumable engineered products to oilfield service, and exploration and production companies. The Offshore Manufactured Products segment designs, manufactures, and markets capital equipment utilized on floating production systems, subsea pipeline infrastructure, and offshore drilling rigs and vessels. Its products include flexible bearings, advanced connector systems, high-pressure riser systems, managed pressure drilling systems, deepwater mooring systems, cranes, subsea pipeline products, and blow-out preventer stack integration products. This segment also provides short-cycle products; and other products for use in industrial, military, alternative energy, and other applications. In addition, it offers specialty welding, fabrication, cladding and machining, offshore installation, and inspection and repair services. The company serves various national oil and natural gas, major and independent oil and natural gas, offshore drilling and other oilfield service, and defense and industrial companies. The company was incorporated in 1995 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $669M | $-47M | $-109M | $74M | -19.1% | -3.4% | 871.5% |
| 2024 | $693M | $56M | $-11M | $8M | -1.7% | -11.5% | -187.3% |
| 2023 | $782M | $86M | $13M | $26M | 1.8% | 6.0% | -235.1% |
| 2022 | $738M | $74M | $-10M | $13M | -1.4% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 737.71 | 782.28 | 692.59 | 668.99 |
| Operating Revenue | - | 737.71 | 782.28 | 692.59 | 668.99 |
| Cost Of Revenue | - | 645.89 | 667.67 | 590.91 | 583.17 |
| Gross Profit | - | 91.82 | 114.62 | 101.68 | 85.82 |
| Operating Expense | - | 88.91 | 91.45 | 78.81 | 83.46 |
| Selling General And Administration | - | 96.04 | 94.18 | 95.01 | 90.42 |
| Total Expenses | - | 734.80 | 759.12 | 669.72 | 666.64 |
| Operating Income | - | 2.90 | 23.16 | 22.86 | 2.35 |
| Total Operating Income As Reported | - | 2.90 | 23.16 | -1.69 | -97.97 |
| EBITDA | - | 73.84 | 86.17 | 55.66 | -47.38 |
| Normalized EBITDA | - | 73.84 | 86.17 | 80.21 | 52.94 |
| EBIT | - | 6.51 | 25.39 | 0.95 | -94.82 |
| Interest Income | - | 0.29 | 1.38 | 1.07 | 1.86 |
| Interest Expense | - | 10.57 | 9.57 | 8.80 | 7.71 |
| Net Interest Income | - | -10.28 | -8.19 | -7.73 | -5.85 |
| Other Non Operating Income Expenses | - | 3.32 | 0.85 | 1.57 | 1.29 |
| Other Income Expense | - | 3.32 | 0.85 | -22.99 | -99.03 |
| Interest Income Non Operating | - | 0.29 | 1.38 | 1.07 | 1.86 |
| Interest Expense Non Operating | - | 10.57 | 9.57 | 8.80 | 7.71 |
| Net Non Operating Interest Income Expense | - | -10.28 | -8.19 | -7.73 | -5.85 |
| Pretax Income | - | -4.06 | 15.82 | -7.85 | -102.53 |
| Tax Provision | - | 5.48 | 2.93 | 3.41 | 6.84 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -5.16 | -21.07 |
| Net Income Continuous Operations | - | -9.54 | 12.89 | -11.26 | -109.38 |
| Net Income From Continuing And Discontinued Operation | - | -9.54 | 12.89 | -11.26 | -109.38 |
| Net Income From Continuing Operation Net Minority Interest | - | -9.54 | 12.89 | -11.26 | -109.38 |
| Net Income | - | -9.54 | 12.89 | -11.26 | -109.38 |
| Net Income Common Stockholders | - | -9.54 | 12.64 | -11.26 | -109.38 |
| Net Income Including Noncontrolling Interests | - | -9.54 | 12.89 | -11.26 | -109.38 |
| Normalized Income | - | -9.54 | 12.89 | 8.14 | -30.12 |
| Diluted NI Availto Com Stockholders | - | -9.54 | 12.64 | -11.26 | -109.38 |
| Basic Average Shares | - | 61.64 | 62.69 | 62 | 58.70 |
| Diluted Average Shares | - | 61.64 | 63.15 | 62 | 58.70 |
| Reconciled Depreciation | - | 67.33 | 60.78 | 54.71 | 47.44 |
| Reconciled Cost Of Revenue | - | 645.89 | 667.67 | 590.91 | 583.17 |
| Total Unusual Items | - | 0 | 0 | -24.55 | -100.32 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -24.55 | -100.32 |
| Special Income Charges | - | 0 | 0 | -24.55 | -100.32 |
| Write Off | - | - | - | - | 7.08 |
| Impairment Of Capital Assets | - | 0 | 0 | 24.55 | 93.25 |
| Other Operating Expenses | - | -7.13 | -2.73 | -16.20 | -6.96 |
| Otherunder Preferred Stock Dividend | - | 0 | 0.25 | 0 | 0 |
| Average Dilution Earnings | - | 0 | 0 | 0 | 0 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Oil States International, Inc.this co. | OIS | $523M | - | 0.91 | -19.1% | - |
| Core Laboratories Inc. | CLB | $630M | 21.22 | 2.37 | 11.2% | 10.84 |
| W&T Offshore, Inc. | WTI | $610M | -4.06 | -3.05 | 75.1% | 9.56 |
| Forum Energy Technologies, Inc. | FET | $606M | -62.77 | 2.08 | -3.3% | 11.53 |
| VAALCO Energy, Inc. | EGY | $600M |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| -14.50 |
| 1.35 |
| -9.3% |
| 7.50 |
| SandRidge Energy, Inc. | SD | $578M | 8.23 | 1.13 | 13.7% | 4.32 |
| Natural Gas Services Group, Inc. | NGS | $521M | 26.15 | 1.90 | 7.3% | 9.94 |
| Clean Energy Fuels Corp. | CLNE | $443M | -1.99 | 0.79 | -39.7% | -8.26 |
| Summit Midstream Corporation | SMC | $415M | -217.87 | 0.95 | -0.4% | 7.00 |
| Peer Median | - | -3.03 | 1.24 | 3.4% | 8.53 | |