Oil States International (OIS) AI Stock Analysis

• Market Cap: $506.64M
• Dividend Yield: N/A
• Average Volume (3M): 704.67K
• Price to Earnings (P/E): 23.7
• Beta (1Y): 1.37
• Revenue Growth: -11.02%
• EPS Growth: N/A
• Country: US
• Employees: 2,439
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.08
• Shares Outstanding: 59,745,564
• 10 Day Avg. Volume: 812,768
• 30 Day Avg. Volume: 704,673
• PEG Ratio: 0.15
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 0.45
• P/FCF Ratio: 37.41
• Enterprise Value/Market Cap: 1.16
• Enterprise Value/Revenue: 0.90
• Enterprise Value/Gross Profit: 5.44
• Enterprise Value/Ebitda: 6.99
• 1Y Price Target: $8.00
• Price Target Upside: -9.91% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $9.50 ▲(6.98% Upside)

The score is driven primarily by improving profitability and a low-leverage balance sheet, reinforced by an upbeat earnings outlook with rising backlog and stronger cash flow expectations. Technicals support the uptrend, but elevated RSI/Stoch suggest momentum may be stretched. Valuation is a mild headwind given a 22.91 P/E and no dividend yield support provided.

Positive Factors

Strong Order Backlog

A strong order backlog indicates sustained demand for the company's products and services, providing revenue visibility and stability over the coming months.

Offshore and International Revenue Growth

The shift towards offshore and international markets diversifies revenue streams and reduces dependency on the volatile US land market, enhancing long-term growth prospects.

Increased Cash Flow from Operations

Improved cash flow from operations strengthens the company's financial flexibility, enabling investment in growth opportunities and debt reduction.

Negative Factors

US Land Activity Decline

A decline in US land activity poses a risk to revenue from domestic operations, potentially impacting overall growth if not offset by international gains.

Downhole Technologies Segment Struggles

Losses in the Downhole Technologies segment highlight operational challenges, which could affect profitability if not addressed through cost management or strategic adjustments.

Impact of Tariffs

Increased tariffs on materials raise costs, potentially squeezing margins and requiring price adjustments or cost-cutting measures to maintain profitability.

Oil States International Business Overview & Revenue Model

Company Description

Oil States International, Inc., through its subsidiaries, provides oilfield products and services for the drilling, completion, subsea, production, and infrastructure sectors of the oil and gas industry worldwide. The company operates through three segments: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products. The Well Site Services segment offers a range of equipment and services that are used to drill for, establish, and maintain the flow of oil and natural gas from a well throughout its lifecycle. It also provides wellhead isolation, frac valve, wireline and coiled tubing support, flowback and well testing, pipe recovery systems, gravel pack and sand control, blowout preventer, and drilling services. 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; and short-cycle and other products. Its products include flexible bearings, advanced connector systems, high-pressure riser systems, deepwater mooring systems, cranes, subsea pipeline products, and blow-out preventer stack integration products. This segment also provides short-cycle products, such as valves, elastomers, and other specialty products that are used in the land-based drilling and completion markets; and other products for use in industrial, military, and other applications. In addition, it offers specialty welding, fabrication, cladding and machining, offshore installation, and inspection and repair services. The company was incorporated in 1995 and is headquartered in Houston, Texas.

How the Company Makes Money

Oil States International generates revenue through several key streams within its operational segments. The Offshore Products segment earns significant income from the sale and rental of subsea systems and equipment, which are critical for offshore drilling operations. The Onshore Products segment contributes to revenue through the sale of tubular products and related services, catering to the needs of onshore oil and gas producers. The Tubular Services segment enhances earnings by providing inspection, threading, and repair services for tubular goods. Additionally, OIS benefits from strategic partnerships with major oil and gas companies, which can provide long-term contracts and project-based engagements, contributing to consistent revenue flow. Fluctuations in oil prices and global demand for energy services also play a significant role in influencing the company's financial performance.

Oil States International Financial Statement Overview

Summary

Profitability improved meaningfully (gross margin rose to 18.37% and net margin turned positive to 3.65%), supported by a low-leverage balance sheet (debt-to-equity 0.18, equity ratio 68.06%). Offsetting this, revenue declined (TTM -1.35%) and cash conversion is only moderate (operating cash flow to net income 0.26; free cash flow to net income 0.42).

Income Statement

Oil States International has shown improvement in its profitability metrics over the TTM period. The gross profit margin increased to 18.37% from 14.68% in the previous year, indicating better cost management. The net profit margin turned positive at 3.65% from a negative margin in the previous year, reflecting improved bottom-line performance. However, revenue growth has been negative, with a decline of 1.35% in the TTM, which is a concern for future growth prospects.

Balance Sheet

The company's balance sheet shows a stable financial position with a debt-to-equity ratio of 0.18, indicating low leverage and a strong equity base. Return on equity improved to 3.49% in the TTM, reflecting better utilization of equity. The equity ratio stands at 68.06%, suggesting a solid capital structure. However, the company needs to focus on improving its asset utilization for better returns.

Cash Flow

Cash flow metrics indicate a mixed performance. The operating cash flow to net income ratio is 0.26, showing moderate cash generation from operations. Free cash flow growth is positive at 2.00% in the TTM, but the free cash flow to net income ratio of 0.42 suggests limited free cash flow relative to net income. The company should focus on enhancing its cash flow generation capabilities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	655.35M	692.59M	782.28M	737.71M	573.16M	638.08M
Gross Profit	108.36M	106.88M	119.12M	95.32M	26.42M	-22.27M
EBITDA	84.34M	55.66M	86.17M	73.84M	17.73M	-421.53M
Net Income	23.94M	-11.26M	12.89M	-9.54M	-63.99M	-468.38M
Balance Sheet
Total Assets	1.01B	1.01B	1.05B	1.06B	1.09B	1.15B
Cash, Cash Equivalents and Short-Term Investments	67.05M	65.36M	47.11M	42.02M	52.85M	72.01M
Total Debt	126.22M	150.56M	161.35M	179.70M	208.68M	220.32M
Total Liabilities	323.35M	324.45M	336.94M	374.83M	389.92M	394.63M
Stockholders Equity	688.97M	680.65M	709.54M	689.56M	695.83M	757.63M
Cash Flow
Free Cash Flow	30.80M	8.39M	25.92M	12.60M	-10.32M	120.01M
Operating Cash Flow	73.19M	45.89M	56.58M	32.86M	7.19M	132.75M
Investing Cash Flow	-3.43M	2.70M	-25.59M	-22.73M	-6.63M	-3.73M
Financing Cash Flow	-48.68M	-29.48M	-26.71M	-20.29M	-19.57M	-65.02M

Oil States International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 8.88
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OIS, the sentiment is Positive. The current price of 8.88 is above the 20-day moving average (MA) of 8.17, above the 50-day MA of 7.27, and above the 200-day MA of 5.82, indicating a bullish trend. The MACD of 0.38 indicates Positive momentum. The RSI at 66.60 is Neutral, neither overbought nor oversold. The STOCH value of 60.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OIS.

Oil States International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NGS	74 Outperform	$433.25M	23.30	7.15%	0.63%	9.53%	15.48%
CLB	72 Outperform	$912.18M	28.36	12.31%	0.24%	-1.02%	6.34%
RNGR	70 Neutral	$343.66M	24.26	5.54%	1.71%	-5.47%	2.24%
OIS	67 Neutral	$506.64M	23.69	3.31%	―	-11.02%	―
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
FET	62 Neutral	$519.86M	-4.97	-31.11%	―	-1.29%	-123.25%
PUMP	58 Neutral	$1.23B	-71.27	-2.05%	―	-11.65%	87.57%

Oil States International Corporate Events

Oil States International Secures New Credit Facility, Targets Debt

On January 28, 2026, Oil States International entered into an amended and restated $125 million cash flow-based credit agreement that replaces its prior asset-based revolving facility, comprising a $75 million revolving credit line and a $50 million multi-draw term loan available to be drawn through July 28, 2026, with both facilities maturing on January 28, 2030. The new agreement, led by Wells Fargo as administrative agent and joined by several other banks, is secured by substantially all U.S. assets and certain foreign subsidiary stock, carries interest tied to Term SOFR or a base rate plus leverage-based margins, and imposes financial maintenance covenants, including minimum interest coverage and maximum leverage ratios. During the fourth quarter of 2025, the company repurchased $50 million of its 4.75% convertible senior notes due April 1, 2026, leaving $53 million outstanding as of December 31, 2025, and with $70 million in cash on hand and no borrowings outstanding under the new facility as of January 28, 2026, it plans to extinguish the remaining notes using a mix of cash and potential draws on the new credit lines, signaling a continued focus on balance sheet management and liquidity flexibility.

The most recent analyst rating on (OIS) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Oil States International stock, see the OIS Stock Forecast page.