Business Description
Oil States International, Inc. (OSI), a global entity operating via its various subsidiaries, delivers a comprehensive suite of products and services tailored for the worldwide oil and gas industry. Its offerings span critical areas such as drilling, completion, subsea operations, production, and infrastructure development. The company's operations are structured into three distinct divisions: Well Site Services, Downhole Technologies, and Offshore/Manufactured Products. The Well Site Services division is responsible for providing diverse equipment and related services essential for the entire lifespan of oil and natural gas wells, from initial drilling to maintaining production. This includes specialized support for tasks such as isolating wellheads, managing frac valves, supporting wireline and coiled tubing operations, performing flowback and well testing, retrieving pipes, implementing gravel pack and sand control solutions, supplying blowout preventers, and conducting general drilling activities. Focusing on subsurface operations, the Downhole Technologies segment delivers advanced perforation systems and a variety of downhole instrumentation. These are crucial for well completion, intervention, wireline applications, and decommissioning activities. Furthermore, this segment is involved in the design, production, and commercialization of engineered consumable products, catering to both oilfield service providers and exploration and production firms. The Offshore/Manufactured Products division concentrates on developing, producing, and distributing significant capital equipment for various offshore applications, including gear for floating production platforms, subsea pipeline networks, and offshore drilling vessels and rigs. Key offerings within this category encompass flexible bearings, sophisticated connector solutions, high-pressure riser assemblies, deepwater mooring apparatus, specialized cranes, items for subsea pipelines, and integrated blowout preventer stack components. Beyond capital equipment, this segment also supplies short-lifecycle products, such as valves, elastomeric components, and other specialized items primarily for land-based drilling and completion activities. Additionally, it produces diverse products for industrial, military, and other general applications. Complementing its product lines, the division delivers an array of services, including specialized welding, fabrication, cladding, machining, offshore installation, and comprehensive inspection and repair. Established in 1995, the company maintains its principal executive offices in Houston, Texas.
Business History
Price History (1 Year)
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): -1.86
Total Equity: $573.19M
Shares: 58,697,000
Total Debt: $74.98M
Cash: $69.91M
EBITDA: -$49.24M
Total Debt: $74.98M
Cash: $69.91M
Revenue: $668.99M
Shares: 58,697,000
Revenue: $668.99M
Revenue: $668.99M
Revenue: $668.99M
Total Equity: $573.19M
Tax Rate: -6.7%
Equity: $573.19M
Total Debt: $74.98M
Cash: $69.91M
Current Liabilities: $266.18M
Long-Term Debt: $14.32M
Total Debt: $74.98M
Total Equity: $573.19M
Shares: 58,697,000
Shares: 58,697,000
CapEx: -$31.19M
Shares: 58,697,000
Stock Price: $8.08
Net Income: -$109.38M
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 26, 2026 5:11pm (16h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $573.2M | $737.7M | $782.3M | $692.6M | $669.0M |
| Cost of Revenue | $546.7M | $642.4M | $663.2M | $585.7M | $583.2M |
| Gross Profit | $26.4M | $95.3M | $119.1M | $106.9M | $85.8M |
| Operating Expenses | $80.6M | $99.5M | $98.7M | $100.2M | $90.4M |
| Operating Income | -$54.2M | -$4.2M | $20.4M | $6.7M | -$4.6M |
| Net Income | -$64.0M | -$9.5M | $12.9M | -$11.3M | -$109.4M |
| EBITDA | $17.7M | $73.8M | $86.2M | $55.7M | -$49.2M |
| EPS | $-1.06 | $-0.15 | $0.20 | $-0.18 | $-1.86 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 26, 2026 5:11pm (16h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $52.9M | $42.0M | $47.1M | $65.4M | $69.9M |
| Total Current Assets | $426.7M | $462.8M | $488.0M | $498.2M | $495.3M |
| Total Assets | $1.1B | $1.1B | $1.0B | $1.0B | $883.4M |
| Current Liabilities | $177.3M | $193.7M | $157.3M | $157.7M | $266.2M |
| Long-Term Debt | $160.5M | $135.1M | $135.5M | $124.7M | $14.3M |
| Total Liabilities | $389.9M | $374.8M | $336.9M | $324.5M | $310.2M |
| Total Equity | $695.8M | $689.6M | $709.5M | $680.7M | $573.2M |
| Retained Earnings | $281.6M | $272.0M | $284.9M | $273.7M | $164.3M |
Cash Flow (Annual)
Last updated: Jun 26, 2026 5:11pm (16h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $7.2M | $32.9M | $56.6M | $45.9M | $105.1M |
| Capital Expenditure | -$17.5M | -$20.3M | -$30.7M | -$37.5M | -$31.2M |
| Free Cash Flow | -$10.3M | $12.6M | $25.9M | $8.4M | $73.9M |
| Acquisitions (net) | $11.5M | -$2.2M | $5.3M | $40.7M | $20.2M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$1.6M | -$1.0M | -$8.8M | -$16.8M | -$16.6M |
| Net Change in Cash | -$19.2M | -$10.8M | $5.1M | $18.3M | $4.6M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 5:11pm (16h ago)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$700.4M $693.7M – $707.1M
|
$669.5M $669.2M – $669.9M
|
$653.7M $647.3M – $660.1M
|
$725.5M $698.4M – $752.6M
|
| EBITDA |
$34.7M $34.4M – $35.1M
|
$33.2M $33.2M – $33.2M
|
$32.4M $32.1M – $32.7M
|
$36.0M $34.6M – $37.3M
|
| Net Income |
$8.5M $8.2M – $8.8M
|
$18.0M $17.4M – $18.6M
|
$25.3M $21.6M – $29.0M
|
$38.3M $36.7M – $40.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 26, 2026 5:11pm (16h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +28.7% | +6.0% | -11.5% | -3.4% |
| Gross Profit Growth | +260.7% | +25.0% | -10.3% | -19.7% |
| Operating Income Growth | +92.2% | +583.9% | -67.4% | -169.1% |
| Net Income Growth | +85.1% | +235.1% | -187.3% | -871.5% |
| EBITDA Growth | +316.4% | +16.7% | -35.4% | -188.5% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 9:06am (1h ago)All SEC Form 4 codes
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-05-12 | Wright E Joseph | A-Award | 16,760.00 | $0.00 | $0 |
| 2026-05-12 | Vanderhider Hallie A. | A-Award | 16,760.00 | $0.00 | $0 |
| 2026-05-12 | POTTER ROBERT L | A-Award | 16,760.00 | $0.00 | $0 |
| 2026-05-12 | Hollek Darrell E | A-Award | 16,760.00 | $0.00 | $0 |
| 2026-05-12 | DICKERSON LAWRENCE R | A-Award | 16,760.00 | $0.00 | $0 |
| 2026-05-12 | Castillo-Rhodes Denise | A-Award | 16,760.00 | $0.00 | $0 |
| 2026-05-01 | Autenrieth Matthew Earl | A-Award | 35,619.00 | $0.00 | $0 |
| 2026-05-01 | Autenrieth Matthew Earl | 0.00 | $0.00 | $0 | |
| 2026-05-01 | Moses Philip Scott | A-Award | 13,357.00 | $0.00 | $0 |
| 2026-05-01 | HAJDIK LLOYD A | A-Award | 66,785.00 | $0.00 | $0 |
| 2026-03-31 | POTTER ROBERT L | A-Award | 1,074.00 | $11.64 | $12,501 |
| 2026-03-31 | Hollek Darrell E | S-Sale | 42,511.00 | $11.61 | $493,553 |
| 2026-02-19 | Taylor Brian E. | A-Award | 37,500.00 | $0.00 | $0 |
| 2026-02-20 | Taylor Brian E. | F-InKind | 9,858.00 | $12.53 | $123,521 |
| 2026-02-19 | Moses Philip Scott | A-Award | 62,500.00 | $0.00 | $0 |
| 2026-02-20 | Moses Philip Scott | F-InKind | 15,266.00 | $12.53 | $191,283 |
| 2026-02-19 | HAJDIK LLOYD A | A-Award | 62,500.00 | $0.00 | $0 |
| 2026-02-20 | HAJDIK LLOYD A | F-InKind | 16,430.00 | $12.53 | $205,868 |
| 2026-02-19 | TAYLOR CINDY B | A-Award | 160,000.00 | $0.00 | $0 |
| 2026-02-20 | TAYLOR CINDY B | F-InKind | 42,061.00 | $12.53 | $527,024 |
Narrative Economics
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