Oil States International (OIS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Oil States International

NYSE•Energy•Oil & Gas Equipment & Services

$9.08-0.11(-0.01%)Pre-market

Market Cap

$515.74M

P/S

0.8x

P/B

0.9x

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.

How this company scores

WeakMetricSide Score: 36/100

Strongest: Balance Sheet & Red Flags (16/25); weakest: Profitability (0/25).

Profitability0/25

Growth5/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality15/25

Strengths

Low leverageNet cash positionNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.9x5y range 15.9x – 145.2x

Currently below its 7-quarter median.

P/S · 0.8x5y range 0.4x – 1.0x

Currently above its 20-quarter median.

P/B · 0.9x5y range 0.4x – 1.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 337.9% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.8x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $515.74M

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $650.25M
Q. Revenue: $169.76M
TTM EBITDA: $-55.63M
TTM Op. Income: $-91.31M
Q. Op. Income: $6.33M
TTM Net Income: $-107.11M
Q. Net Income: $3.12M
EPS: $0.05
Shares Out.: $58.08M

$650.25M in TTM revenue declined 0.7% YoY, reaching $169.76M last quarter. TTM EBITDA of $-55.63M and TTM operating income of $-91.31M show growth is flowing through to the bottom line. However, net income is negative at $107.11M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is down 1% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 23.4%
EBITDA Margin: 8.5%
Op. Margin: 3.7%
Net Margin: 1.8%

Op. margin of 3.7% is up 0.9% YoY — cost efficiency is improving. Net margin at 1.8% and gross margin of 23.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 30% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.8x
P/B Ratio: 0.9x

P/S of 0.8x and P/B of 0.9x. P/S is low relative to typical market levels. Across the last 3 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $844.60M
Cash: $22.91M
Long-Term Debt: $18.42M
Book Value: $583.58M
D/E Ratio: 0.0
Debt/EBITDA: 1.3

With $844.60M in assets and $18.42M in long-term debt, D/E is 0.0and book value is $583.58M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $5.30M
TTM Free Cash Flow: $33.95M
FCF Margin: 5.2%
FCF / Net Income: -0.3

TTM FCF of $33.95M on $5.30M in operating cash flow. The FCF / Net Income ratio of -0.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.