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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% | - |
| 2024 | $693M | $56M | $-11M | $8M | -1.7% | -11.5% | -187.3% |
| 2023 | $782M | $86M | $13M | $26M | 1.8% | 6.0% | - |
| 2022 | $738M | $74M | $-10M | $13M | -1.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 | 85.81 |
| Operating Expense | 88.91 | 91.45 | 78.81 | 83.47 |
| Operating Income | 2.90 | 23.16 | 22.86 | 2.35 |
| EBITDA | 73.84 | 86.17 | 55.66 | -47.38 |
| EBIT | 6.51 | 25.39 | 0.95 | -94.82 |
| Pretax Income | -4.06 | 15.82 | -7.85 | -102.53 |
| Tax Provision | 5.48 | 2.93 | 3.41 | 6.84 |
| Net Income | -9.54 | 12.89 | -11.26 | -109.38 |
| Net Income Common Stockholders | -9.54 | 12.64 | -11.26 | -109.38 |
| Total Expenses | 734.80 | 759.12 | 669.72 | 666.64 |
| Interest Expense | 10.57 | 9.57 | 8.80 | 7.71 |
| Interest Income | 0.29 | 1.38 | 1.07 | 1.86 |
| Selling General And Administration | 96.04 | 94.19 | 95.01 | 90.42 |
| Normalized EBITDA | 73.84 | 86.17 | 80.21 | 52.94 |
| Normalized Income | -9.54 | 12.89 | 8.14 | -30.12 |
| Basic EPS | -0.15 | 0.20 | -0.18 | 0 |
| Diluted EPS | -0.15 | 0.20 | -0.18 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | -5.16 | -21.07 |
| Tax Rate For Calcs | 0.21 | 0.19 | 0.21 | 0.21 |
| Total Unusual Items | 0 | 0 | -24.55 | -100.32 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -24.55 | -100.32 |
| Net Income From Continuing Operation Net Minority Interest | -9.54 | 12.89 | -11.26 | -109.38 |
| Reconciled Depreciation | 67.33 | 60.78 | 54.71 | 47.44 |
| Reconciled Cost Of Revenue | 645.89 | 667.67 | 590.91 | 583.17 |
| Net Interest Income | -10.28 | -8.19 | -7.73 | -5.85 |
| Net Income From Continuing And Discontinued Operation | -9.54 | 12.89 | -11.26 | -109.38 |
| Total Operating Income As Reported | 2.90 | 23.16 | -1.69 | -97.97 |
| Diluted Average Shares | 61.64 | 63.15 | 62 | 0 |
| Basic Average Shares | 61.64 | 62.69 | 62 | 0 |
| Diluted NI Availto Com Stockholders | -9.54 | 12.64 | -11.26 | -109.38 |
| Average Dilution Earnings | 0 | 0 | 0 | 0 |
| Otherunder Preferred Stock Dividend | 0 | 0.25 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -9.54 | 12.89 | -11.26 | -109.38 |
| Net Income Continuous Operations | -9.54 | 12.89 | -11.26 | -109.38 |
| Other Income Expense | 3.31 | 0.85 | -22.99 | -99.03 |
| Other Non Operating Income Expenses | 3.31 | 0.85 | 1.57 | 1.29 |
| Special Income Charges | 0 | 0 | -24.55 | -100.32 |
| Write Off | 0 | 0 | 0 | 7.08 |
| Impairment Of Capital Assets | 0 | 0 | 24.55 | 93.25 |
| Net Non Operating Interest Income Expense | -10.28 | -8.19 | -7.73 | -5.85 |
| Interest Expense Non Operating | 10.57 | 9.57 | 8.80 | 7.71 |
| Interest Income Non Operating | 0.29 | 1.38 | 1.07 | 1.86 |
| Other Operating Expenses | -7.13 | -2.73 | -16.20 | -6.96 |
| Operating Revenue | 737.71 | 782.28 | 692.59 | 668.99 |
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 | $709M | - | 1.23 | -19.1% | 11.39 |
| Granite Ridge Resources, Inc. | GRNT | $789M | 33.22 | 1.30 | 4.0% | 3.43 |
| Vitesse Energy, Inc. | VTS | $788M | 29.52 | 1.22 | 4.0% | 5.18 |
| Riley Exploration Permian, Inc. | REPX | $787M | 4.77 | 1.24 | 25.4% | 4.33 |
| Forum Energy Technologies, Inc. | FET |
| $731M |
| - |
| 2.46 |
| -3.3% |
| 17.46 |
| Hallador Energy Company | HNRG | $714M | 15.79 | 4.16 | 26.2% | 7.30 |
| VAALCO Energy, Inc. | EGY | $713M | - | 1.57 | -9.3% | 4.90 |
| W&T Offshore, Inc. | WTI | $667M | - | -3.34 | 75.1% | 9.17 |
| Flotek Industries, Inc. | FTK | $613M | 20.17 | 4.51 | 27.0% | 21.95 |
| Peer Median | - | 20.17 | 1.43 | 14.7% | 6.24 | |