What is Oil States International's operating income?

Oil States International's total operating income in 2025 was -$97.97 million, based on the following breakdown: Total Gross Profit: $133.25 million Total Operating Expenses: $231.23 million

Oil States International (OIS) Financials

$8.95 +0.23 (+2.61%)

Closing price 08/14/2026 03:59 PM Eastern

Extended Trading

$8.67 -0.28 (-3.11%)

As of 08/14/2026 07:34 PM Eastern

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Annual Income Statements for Oil States International

This table shows Oil States International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	29	-46	-85	-19	-232	-468	-64	-9.54	13	-11	-109
Consolidated Net Income / (Loss)	29	-46	-85	-19	-232	-468	-64	-9.54	13	-11	-109
Net Income / (Loss) Continuing Operations	28	-46	-85	-19	-232	-468	-64	-9.54	13	-11	-109
Total Pre-Tax Income	51	-73	-77	-22	-241	-534	-73	-4.06	16	-7.85	-103
Total Operating Income	55	-69	-74	-5.88	-228	-534	-65	2.91	23	-1.69	-98
Total Gross Profit	314	168	150	254	215	76	103	159	175	156	133
Total Revenue	1,100	694	671	1,088	1,017	638	573	738	782	693	669
Operating Revenue	1,100	694	671	1,088	1,017	638	573	738	782	693	669
Total Cost of Revenue	786	527	521	835	803	562	470	579	607	536	536
Operating Cost of Revenue	786	527	521	835	803	562	470	579	607	536	536
Total Operating Expenses	259	237	224	259	443	611	168	156	152	158	231
Selling, General & Admin Expense	133	124	115	138	123	94	84	96	94	95	90
Depreciation Expense	131	119	108	124	123	99	81	67	61	55	47
Other Operating Expenses / (Income)	-4.65	-5.80	1.26	-2.10	-2.00	-0.54	-1.04	-7.13	-2.73	-16	-6.96
Impairment Charge	-	-	0.00	0.00	199	419	4.17	0.00	0.00	25	100
Total Other Income / (Expense), net	-4.44	-4.04	-3.54	-16	-13	0.01	-8.54	-6.97	-7.34	-6.16	-4.56
Interest Expense	6.43	5.34	4.67	19	18	14	10	11	9.57	8.80	7.71
Interest & Investment Income	0.54	0.40	0.36	0.32	0.26	0.39	0.16	0.29	1.38	1.07	1.86
Other Income / (Expense), net	1.45	0.90	0.78	3.14	5.09	14	1.63	3.32	0.85	1.57	1.29
Income Tax Expense	22	-27	7.44	-2.63	-8.92	-66	-9.34	5.48	2.93	3.41	6.85
Basic Earnings per Share	$0.56	($0.92)	($1.69)	($0.33)	($3.90)	($7.83)	($1.06)	($0.15)	$0.20	($0.18)	($1.86)
Weighted Average Basic Shares Outstanding	50.27M	50.17M	50.14M	58.71M	59.38M	59.81M	60.29M	61.64M	62.69M	62.00M	58.70M
Diluted Earnings per Share	$0.56	($0.92)	($1.69)	($0.33)	($3.90)	($7.83)	($1.06)	($0.15)	$0.20	($0.18)	($1.86)
Weighted Average Diluted Shares Outstanding	50.34M	50.17M	50.14M	58.71M	59.38M	59.81M	60.29M	61.64M	63.15M	62.00M	58.70M
Weighted Average Basic & Diluted Shares Outstanding	51.10M	50.40M	50.20M	60.50M	60.40M	61.04M	61.38M	63.90M	63.58M	61.76M	60.21M

This table shows Oil States International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	5.96	-13	1.30	-14	15	3.16	2.81	1.90	-117	1.11	5.91
Consolidated Net Income / (Loss)	5.96	-13	1.30	-14	15	3.16	2.81	1.90	-117	1.11	5.91
Net Income / (Loss) Continuing Operations	5.96	-13	1.30	-14	15	3.16	2.81	1.90	-117	1.11	5.91
Total Pre-Tax Income	6.20	-13	0.64	-12	17	4.20	4.22	3.34	-114	3.25	7.92
Total Operating Income	7.83	-11	2.05	-11	18	5.64	5.28	4.75	-114	4.28	12
Total Gross Profit	45	35	44	38	39	37	40	37	19	34	39
Total Revenue	208	167	186	174	165	160	165	165	178	145	157
Operating Revenue	208	167	186	174	165	160	165	165	178	145	157
Total Cost of Revenue	164	132	142	137	126	123	125	129	159	112	118
Operating Cost of Revenue	164	132	142	137	126	123	125	129	159	112	118
Total Operating Expenses	37	46	42	49	20	32	35	32	133	29	27
Selling, General & Admin Expense	22	22	26	23	23	23	23	21	24	20	23
Depreciation Expense	15	14	15	14	12	12	12	12	11	8.19	8.06
Other Operating Expenses / (Income)	-0.23	-0.20	1.23	-0.96	-16	-2.93	-1.45	-1.10	-1.48	-0.10	-4.19
Impairment Charge	-	10	0.00	13	1.19	0.00	1.36	0.00	99	1.38	0.00
Total Other Income / (Expense), net	-1.63	-2.17	-1.41	-1.09	-1.49	-1.44	-1.06	-1.41	-0.65	-1.03	-3.79
Interest & Investment Income	-	-2.10	-2.06	-1.82	-	-1.58	-1.69	-1.77	6.90	-1.18	-0.51
Other Income / (Expense), net	0.18	-0.07	0.65	0.73	0.26	0.14	0.64	0.36	0.16	0.15	-3.28
Income Tax Expense	0.23	0.02	-0.67	2.22	1.83	1.04	1.41	1.44	2.96	2.14	2.01
Basic Earnings per Share	$0.09	($0.21)	$0.02	($0.23)	$0.24	$0.05	$0.05	$0.03	($1.99)	$0.02	$0.10
Weighted Average Basic Shares Outstanding	62.69M	62.50M	62.48M	62.08M	62.00M	60.17M	59.15M	57.95M	58.70M	57.79M	58.48M
Diluted Earnings per Share	$0.09	($0.21)	$0.02	($0.23)	$0.24	$0.05	$0.05	$0.03	($1.99)	$0.02	$0.10
Weighted Average Diluted Shares Outstanding	63.15M	62.50M	62.70M	62.08M	62.00M	60.17M	59.15M	58.02M	58.70M	58.44M	58.63M
Weighted Average Basic & Diluted Shares Outstanding	63.58M	64.22M	63.79M	63.11M	61.76M	61.87M	60.59M	59.75M	60.21M	60.19M	60.32M

This table details how cash moves in and out of Oil States International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-17	33	-17	-34	-11	64	-19	-11	5.09	18	4.55
Net Cash From Operating Activities	256	149	95	103	137	133	7.19	33	57	46	105
Net Cash From Continuing Operating Activities	256	149	95	103	137	133	7.19	33	57	46	105
Net Income / (Loss) Continuing Operations	28	-46	-85	-19	-232	-468	-64	-9.54	13	-11	-109
Consolidated Net Income / (Loss)	29	-46	-85	-19	-232	-468	-64	-9.54	13	-11	-109
Depreciation Expense	131	119	108	124	123	99	81	67	61	55	47
Amortization Expense	0.78	0.79	1.16	7.41	7.88	7.74	2.31	1.89	1.80	1.50	1.52
Non-Cash Adjustments To Reconcile Net Income	20	23	23	18	214	450	14	5.89	1.88	14	119
Changes in Operating Assets and Liabilities, net	75	53	49	-26	24	45	-26	-33	-21	-13	47
Net Cash From Investing Activities	-147	-29	-48	-461	-52	-3.73	-6.63	-23	-26	2.70	-11
Net Cash From Continuing Investing Activities	-147	-29	-48	-461	-52	-3.73	-6.63	-23	-26	2.70	-11
Purchase of Property, Plant & Equipment	-115	-30	-35	-88	-56	-13	-18	-20	-31	-38	-31
Sale of Property, Plant & Equipment	2.66	1.53	2.13	3.66	6.05	9.60	12	5.88	5.25	41	20
Other Investing Activities, net	-1.69	-1.14	-1.72	2.67	-1.91	-0.58	-0.64	-0.21	-0.19	-0.45	-0.11
Net Cash From Financing Activities	-125	-85	-65	324	-96	-65	-20	-20	-27	-29	-90
Net Cash From Continuing Financing Activities	-125	-85	-65	324	-96	-65	-20	-20	-27	-29	-90
Repayment of Debt	-18	-293	-249	-707	-338	-134	-166	-29	-54	-35	-72
Repurchase of Common Equity	-106	0.00	-16	0.00	-0.76	-	0.00	0.00	-6.87	-14	-17
Issuance of Debt	-	212	206	1,035	247	72	148	10	36	23	0.56
Other Financing Activities, net	-6.36	-3.96	-5.32	-4.18	-3.70	-2.75	-1.60	-1.00	-1.95	-2.60	-2.46
Effect of Exchange Rate Changes	-1.49	-2.26	-	-	-0.37	-0.49	-0.16	-0.68	0.82	-0.86	0.64
Cash Interest Paid	-	3.94	4.21	9.86	9.63	6.40	6.53	8.34	7.87	7.44	7.15
Cash Income Taxes Paid	-	2.33	-0.17	2.99	-1.30	-37	0.15	0.53	1.26	3.85	7.09

This table details how cash moves in and out of Oil States International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-5.79	-23	1.13	21	19	1.47	-13	13	2.86	-11	-39
Net Cash From Operating Activities	4.20	-11	10	29	18	9.30	15	31	50	-1.89	-6.26
Net Cash From Continuing Operating Activities	4.20	-11	10	29	18	9.30	15	31	50	-1.89	-6.26
Net Income / (Loss) Continuing Operations	5.96	-13	1.30	-14	15	3.16	2.81	1.90	-117	1.11	5.91
Consolidated Net Income / (Loss)	5.96	-13	1.30	-14	15	3.16	2.81	1.90	-117	1.11	5.91
Depreciation Expense	15	14	15	14	12	12	12	12	11	8.19	8.06
Amortization Expense	0.45	0.51	0.33	0.33	0.33	0.33	0.33	0.58	0.28	0.76	0.15
Non-Cash Adjustments To Reconcile Net Income	0.67	10	1.60	15	-12	-0.79	-0.08	-0.04	120	1.41	0.97
Changes in Operating Assets and Liabilities, net	-17	-23	-7.69	15	2.95	-5.43	0.03	16	36	-13	-21
Net Cash From Investing Activities	-6.47	-7.83	4.63	-5.13	11	-0.01	-6.91	-7.54	3.41	-3.37	4.23
Net Cash From Continuing Investing Activities	-6.47	-7.83	4.63	-5.13	11	-0.01	-6.91	-7.54	3.41	-3.37	4.23
Purchase of Property, Plant & Equipment	-7.28	-10	-5.79	-7.43	-14	-9.16	-10	-8.71	-3.01	-4.23	-2.91
Sale of Property, Plant & Equipment	0.88	2.30	10	2.66	25	9.19	3.44	1.20	6.42	0.87	7.14
Other Investing Activities, net	-0.07	-0.03	-0.04	-0.36	-0.02	-0.03	-0.03	-0.04	-0.01	-0.01	0.00
Net Cash From Financing Activities	-4.01	-3.69	-14	-2.96	-9.29	-7.96	-21	-10	-51	-6.05	-37
Net Cash From Continuing Financing Activities	-4.01	-3.69	-14	-2.96	-9.29	-7.96	-21	-10	-51	-6.05	-37
Repayment of Debt	-0.27	-3.00	-32	-0.23	-0.29	-0.35	-14	-6.41	-50	-2.18	-100
Repurchase of Common Equity	-3.87	0.00	-2.37	-2.78	-9.06	-5.35	-6.70	-4.14	-0.42	0.00	-5.10
Issuance of Debt	0.12	1.89	21	0.06	0.06	0.17	0.03	0.31	0.05	0.08	68
Effect of Exchange Rate Changes	0.49	-0.18	-0.19	0.08	-0.57	0.13	0.10	0.33	0.08	0.38	0.08
Cash Interest Paid	3.51	0.31	3.59	0.31	3.23	0.31	3.32	0.41	3.12	0.28	1.31
Cash Income Taxes Paid	1.30	0.60	0.75	1.35	1.15	0.71	2.95	0.99	2.44	1.78	2.39

This table presents Oil States International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,596	1,384	1,302	2,004	1,728	1,152	1,086	1,064	1,046	1,005	883
Total Current Assets	611	490	456	534	483	424	427	463	488	498	495
Cash & Equivalents	36	69	53	19	8.49	72	53	42	47	65	70
Accounts Receivable	333	235	216	284	233	163	186	219	203	194	202
Inventories, net	213	175	168	209	221	170	169	183	202	215	183
Prepaid Expenses	29	11	18	22	20	18	19	19	36	17	22
Other Current Assets	-	-	-	-	-	-	-	-	-	6.49	17
Plant, Property, & Equipment, net	639	553	499	540	460	384	339	304	280	267	244
Total Noncurrent Assets	346	341	347	929	785	345	320	298	278	240	144
Goodwill	264	263	268	647	482	76	76	79	80	70	71
Intangible Assets	59	53	50	255	230	206	186	170	153	126	31
Other Noncurrent Operating Assets	23	24	28	27	72	63	58	49	45	44	42
Total Liabilities & Shareholders' Equity	1,596	1,384	1,302	2,004	1,728	1,152	1,086	1,064	1,046	1,005	883
Total Liabilities	341	180	169	564	504	395	390	375	337	324	310
Total Current Liabilities	154	107	115	181	183	162	177	194	157	158	266
Short-Term Debt	0.53	0.54	0.41	26	26	18	18	18	0.63	0.63	53
Accounts Payable	59	34	49	78	78	46	63	73	68	58	68
Accrued Expenses	49	45	46	61	49	45	43	49	44	37	38
Current Deferred Revenue	37	21	18	14	18	43	43	45	37	52	97
Current Deferred & Payable Income Tax Liabilities	8.30	5.84	1.65	3.07	4.17	2.41	2.56	2.61	1.23	2.82	1.76
Other Current Liabilities	0.29	-	-	-	8.31	7.62	6.48	6.14	6.88	7.28	7.29
Total Noncurrent Liabilities	187	72	54	383	321	232	213	181	180	167	44
Long-Term Debt	126	45	4.87	306	223	166	160	135	136	125	1.67
Noncurrent Deferred & Payable Income Tax Liabilities	40	5.04	25	54	38	14	3.64	6.65	7.72	5.35	5.77
Other Noncurrent Operating Liabilities	20	22	24	23	60	52	49	39	36	37	37
Total Equity & Noncontrolling Interests	1,256	1,204	1,133	1,440	1,224	758	696	690	710	681	573
Total Preferred & Common Equity	1,256	1,204	1,133	1,440	1,224	758	696	690	710	681	573
Total Common Equity	1,256	1,204	1,133	1,440	1,224	758	696	690	710	681	573
Common Stock	714	732	755	1,098	1,115	1,124	1,106	1,123	1,130	1,139	1,146
Retained Earnings	1,180	1,133	1,049	1,030	798	329	282	272	285	274	164
Treasury Stock	-587	-591	-613	-617	-621	-624	-626	-627	-635	-652	-671
Accumulated Other Comprehensive Income / (Loss)	-51	-70	-59	-71	-68	-71	-66	-79	-70	-80	-66

This table presents Oil States International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	1,045	1,048	1,016	1,001	994	991	994	1,012	862	839
Total Current Assets	457	485	470	469	479	488	488	511	480	465
Cash & Equivalents	42	53	24	25	46	67	54	67	59	20
Accounts Receivable	181	189	201	204	183	184	197	202	187	197
Inventories, net	205	207	210	217	221	216	216	223	196	210
Prepaid Expenses	28	36	35	23	29	22	21	20	21	20
Other Current Assets	-	-	-	-	-	-	-	-	17	19
Plant, Property, & Equipment, net	296	279	278	271	267	268	274	273	239	232
Total Noncurrent Assets	292	284	268	261	248	235	232	228	143	143
Goodwill	80	79	70	70	70	70	71	70	70	70
Intangible Assets	161	157	149	145	130	122	119	115	30	29
Other Noncurrent Operating Assets	51	48	49	47	48	43	43	43	43	44
Total Liabilities & Shareholders' Equity	1,045	1,048	1,016	1,001	994	991	994	1,012	862	839
Total Liabilities	347	350	323	311	309	307	303	323	291	258
Total Current Liabilities	163	168	142	144	141	142	260	281	248	198
Short-Term Debt	0.51	0.59	0.62	0.62	0.63	0.62	109	103	53	0.65
Accounts Payable	57	58	57	62	56	50	58	59	64	69
Accrued Expenses	43	49	35	38	40	32	35	38	30	32
Current Deferred Revenue	53	50	42	34	35	51	50	73	93	88
Current Deferred & Payable Income Tax Liabilities	2.74	2.59	1.18	1.18	2.62	2.07	0.71	1.07	1.58	1.75
Other Current Liabilities	6.75	6.46	6.65	6.71	7.30	7.11	7.69	7.34	5.91	5.68
Total Noncurrent Liabilities	184	182	182	167	169	165	43	42	43	61
Long-Term Debt	135	135	136	124	125	125	1.92	1.89	1.53	18
Noncurrent Deferred & Payable Income Tax Liabilities	8.60	7.39	6.52	5.66	5.29	5.58	6.53	6.84	5.50	5.61
Other Noncurrent Operating Liabilities	40	39	40	37	39	35	34	33	36	37
Total Equity & Noncontrolling Interests	698	698	692	690	685	683	691	689	571	581
Total Preferred & Common Equity	698	698	692	690	685	683	691	689	571	581
Total Common Equity	698	698	692	690	685	683	691	689	571	581
Common Stock	1,126	1,128	1,132	1,134	1,136	1,141	1,143	1,144	1,148	1,157
Retained Earnings	275	279	272	273	258	277	280	282	165	171
Treasury Stock	-632	-632	-638	-640	-644	-660	-667	-671	-675	-680
Accumulated Other Comprehensive Income / (Loss)	-72	-77	-73	-76	-67	-74	-65	-66	-67	-67

This table displays calculated financial ratios and metrics derived from Oil States International's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	50,805,451.00	51,374,790.00	51,089,350.00	59,978,949.00	60,502,803.00	61,031,053.00	61,375,811.00	63,902,143.00	63,889,176.00	-	59,745,565.00
DEI Adjusted Shares Outstanding	50,805,451.00	51,374,790.00	51,089,350.00	59,978,949.00	60,502,803.00	61,031,053.00	61,375,811.00	63,902,143.00	63,889,176.00	-	59,745,565.00
DEI Earnings Per Adjusted Shares Outstanding	0.56	-0.90	-1.66	-0.32	-3.83	-7.67	-1.04	-0.15	0.20	-	-1.83
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	31	-48	-52	-4.11	-160	-374	-45	2.03	19	-1.18	-69
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	0.24%	2.23%	-0.15%	-10.92%
Earnings before Interest and Taxes (EBIT)	56	-68	-73	-2.74	-223	-520	-63	6.22	24	-0.12	-97
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	188	51	36	128	-92	-414	20	75	87	56	-48
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	120	116	45	-672	129	220	2.08	23	21	57	114
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,346	1,181	1,085	1,752	1,464	869	822	800	799	741	558
Increase / (Decrease) in Invested Capital	-89	-165	-97	668	-289	-594	-47	-21	-1.87	-58	-182
Book Value per Share	$24.72	$23.44	$22.17	$24.00	$20.23	$12.41	$11.34	$10.79	$11.11	$10.79	$9.59
Tangible Book Value per Share	$18.35	$17.29	$15.94	$8.96	$8.46	$7.79	$7.07	$6.89	$7.46	$7.69	$7.89
Total Capital	1,382	1,250	1,138	1,772	1,472	941	875	842	846	806	628
Total Debt	126	46	5.28	332	248	184	179	153	136	125	55
Total Long-Term Debt	126	45	4.87	306	223	166	160	135	136	125	1.67
Net Debt	90	-23	-48	312	240	112	126	111	89	60	-15
Capital Expenditures (CapEx)	112	28	33	84	50	3.15	5.99	14	25	-3.16	11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	422	314	288	359	317	207	215	245	284	276	213
Debt-free Net Working Capital (DFNWC)	458	383	341	379	326	279	268	287	331	341	282
Net Working Capital (NWC)	457	383	341	353	300	261	249	269	331	341	229
Net Nonoperating Expense (NNE)	2.26	-2.11	33	15	72	94	19	12	5.98	10	41
Net Nonoperating Obligations (NNO)	90	-23	-48	312	240	112	126	111	89	60	-15
Total Depreciation and Amortization (D&A)	132	120	109	131	131	106	83	69	63	56	49
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.56	($0.92)	($1.69)	($0.33)	($3.90)	($7.83)	($1.06)	($0.15)	$0.20	($0.18)	($1.86)
Adjusted Weighted Average Basic Shares Outstanding	50.27M	50.17M	50.14M	58.71M	59.38M	59.81M	60.29M	61.64M	62.69M	62.00M	58.70M
Adjusted Diluted Earnings per Share	$0.56	($0.92)	($1.69)	($0.33)	($3.90)	($7.83)	($1.06)	($0.15)	$0.20	($0.18)	($1.86)
Adjusted Weighted Average Diluted Shares Outstanding	50.34M	50.17M	50.14M	58.71M	59.38M	59.81M	60.29M	61.64M	63.15M	62.00M	58.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	51.45M	51.37M	60.06M	60.50M	60.40M	61.04M	61.38M	63.90M	63.58M	61.76M	60.21M
Normalized Net Operating Profit after Tax (NOPAT)	31	-48	-52	-4.11	-21	-81	-42	2.03	19	16	1.65
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Oil States International's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	63,889,176.00	63,889,176.00	64,215,204.00	63,787,977.00	-	61,760,608.00	61,868,817.00	60,592,651.00	59,745,565.00	120,412,610.00	60,193,415.00
DEI Adjusted Shares Outstanding	63,889,176.00	63,889,176.00	64,215,204.00	63,787,977.00	-	61,760,608.00	61,868,817.00	60,592,651.00	59,745,565.00	120,412,610.00	60,193,415.00
DEI Earnings Per Adjusted Shares Outstanding	0.09	-0.21	0.02	-0.22	-	0.05	0.05	0.03	-1.96	0.01	0.10
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.88%	-14.75%	1.56%	-10.26%	-20.97%	-4.38%	-11.25%	-5.26%	-	-9.11%	-5.29%
EBITDA Growth	9.51%	-84.17%	-8.92%	-83.58%	35.69%	424.26%	2.35%	387.76%	-	-26.25%	-8.24%
EBIT Growth	70.51%	-282.88%	-22.48%	-261.70%	134.06%	151.36%	119.24%	149.56%	-	-23.39%	42.58%
NOPAT Growth	88.58%	-332.03%	225.65%	-231.85%	118.85%	154.21%	-15.99%	134.98%	-	-65.62%	148.60%
Net Income Growth	106.69%	-719.74%	133.15%	-440.67%	154.30%	123.61%	116.06%	113.24%	-	-64.91%	110.25%
EPS Growth	50.00%	-800.00%	100.00%	-428.57%	166.67%	123.81%	150.00%	113.04%	-	-60.00%	100.00%
Operating Cash Flow Growth	-69.73%	-91.96%	-77.07%	111.24%	333.78%	181.82%	46.41%	6.54%	-	-120.28%	-141.73%
Free Cash Flow Firm Growth	-62.78%	-48.16%	-82.80%	-52.68%	691.50%	935.52%	739.56%	313.13%	-	164.34%	281.80%
Invested Capital Growth	-0.23%	-1.74%	-0.17%	-2.22%	-7.26%	-7.77%	-5.40%	-4.87%	-	-23.59%	-22.41%
Revenue Q/Q Growth	7.19%	-19.69%	11.43%	-6.46%	-5.59%	-2.83%	3.42%	-0.14%	-	-18.55%	7.77%
EBITDA Q/Q Growth	3.53%	-84.98%	412.37%	-79.39%	755.70%	-41.97%	0.03%	-1.80%	-	113.14%	24.46%
EBIT Q/Q Growth	25.58%	-240.49%	123.98%	-482.28%	281.78%	-69.17%	2.35%	-13.58%	-	103.90%	90.49%
NOPAT Q/Q Growth	28.56%	-203.83%	153.47%	-284.75%	313.38%	-74.28%	-17.14%	-23.07%	-	101.83%	499.19%
Net Income Q/Q Growth	41.57%	-324.28%	109.73%	-1,202.92%	205.68%	-79.17%	-10.99%	-32.41%	-	100.95%	433.39%
EPS Q/Q Growth	28.57%	-333.33%	109.52%	-1,250.00%	204.35%	-79.17%	0.00%	-40.00%	-	101.01%	400.00%
Operating Cash Flow Q/Q Growth	-69.21%	-370.61%	190.16%	181.21%	-36.78%	-48.96%	61.32%	104.63%	-	-103.76%	-231.94%
Free Cash Flow Firm Q/Q Growth	-53.90%	-31.48%	-14.72%	75.66%	671.12%	-10.36%	-30.86%	-13.56%	-	71.81%	-0.13%
Invested Capital Q/Q Growth	2.19%	0.74%	-1.78%	-3.30%	-3.08%	0.18%	0.75%	-2.76%	-	1.54%	2.31%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.40%	21.11%	23.80%	21.66%	23.67%	23.30%	24.22%	22.12%	-	23.23%	24.71%
EBITDA Margin	11.06%	2.07%	9.51%	2.09%	18.99%	11.34%	10.97%	10.78%	-	9.20%	10.62%
Operating Margin	3.76%	-6.68%	1.10%	-6.33%	11.23%	3.53%	3.19%	2.87%	-	2.94%	7.48%
EBIT Margin	3.84%	-6.73%	1.45%	-5.91%	11.39%	3.61%	3.57%	3.09%	-	3.04%	5.38%
Profit (Net Income) Margin	2.86%	-8.00%	0.70%	-8.23%	9.21%	1.97%	1.70%	1.15%	-	0.76%	3.77%
Tax Burden Percent	96.24%	100.18%	204.56%	118.25%	89.22%	75.21%	66.60%	56.94%	-	34.08%	74.59%
Interest Burden Percent	77.38%	118.68%	23.58%	117.69%	90.69%	72.68%	71.39%	65.30%	-	73.45%	93.97%
Effective Tax Rate	3.76%	0.00%	-104.56%	0.00%	10.78%	24.79%	33.40%	43.06%	-	65.92%	25.41%
Return on Invested Capital (ROIC)	3.54%	-4.34%	2.15%	-4.22%	9.02%	2.35%	1.84%	1.44%	-	1.00%	5.42%
ROIC Less NNEP Spread (ROIC-NNEP)	1.97%	-9.06%	-0.84%	-12.38%	7.23%	1.08%	0.94%	0.07%	-	-0.28%	-4.76%
Return on Net Nonoperating Assets (RNNOA)	0.28%	-1.54%	-0.12%	-1.45%	0.78%	0.13%	0.11%	0.01%	-	-0.01%	-0.21%
Return on Equity (ROE)	3.82%	-5.88%	2.03%	-5.68%	9.79%	2.48%	1.94%	1.44%	-	0.99%	5.22%
Cash Return on Invested Capital (CROIC)	2.59%	2.29%	0.60%	1.13%	7.38%	9.15%	6.77%	8.66%	-	16.12%	15.44%
Operating Return on Assets (OROA)	2.85%	-4.90%	1.07%	-4.26%	7.69%	2.47%	2.38%	2.02%	-	2.15%	3.79%
Return on Assets (ROA)	2.12%	-5.83%	0.52%	-5.93%	6.22%	1.35%	1.13%	0.75%	-	0.54%	2.66%
Return on Common Equity (ROCE)	3.82%	-5.88%	2.03%	-5.68%	9.79%	2.48%	1.94%	1.44%	-	0.99%	5.22%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-0.38%	0.00%	0.00%	0.00%	0.77%	0.00%	0.00%	-	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.54	-7.82	4.18	-7.73	16	4.24	3.51	2.70	-80	1.46	8.74
NOPAT Margin	3.62%	-4.68%	2.24%	-4.43%	10.02%	2.65%	2.12%	1.64%	-	1.00%	5.58%
Net Nonoperating Expense Percent (NNEP)	1.57%	4.72%	2.98%	8.15%	1.78%	1.27%	0.90%	1.37%	-	1.29%	10.19%
Return On Investment Capital (ROIC_SIMPLE)	0.89%	-0.94%	0.51%	-0.95%	2.05%	0.52%	0.44%	0.34%	-12.66%	0.23%	1.46%
Cost of Revenue to Revenue	78.60%	78.89%	76.20%	78.34%	76.33%	76.70%	75.78%	77.88%	-	76.77%	75.29%
SG&A Expenses to Revenue	10.76%	13.45%	14.15%	13.05%	14.21%	14.09%	13.89%	12.57%	-	13.78%	14.76%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Operating Expenses to Revenue	17.64%	27.79%	22.70%	27.99%	12.44%	19.77%	21.03%	19.24%	-	20.29%	17.23%
Earnings before Interest and Taxes (EBIT)	8.01	-11	2.70	-10	19	5.78	5.91	5.11	-113	4.43	8.43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	3.46	18	3.65	31	18	18	18	-102	13	17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.61	0.57	0.41	0.43	0.47	0.47	0.48	0.53	-	1.23	0.83
Price to Tangible Book Value (P/TBV)	0.91	0.83	0.60	0.61	0.66	0.65	0.66	0.73	-	1.49	1.00
Price to Revenue (P/Rev)	0.55	0.52	0.38	0.40	0.46	0.46	0.50	0.56	-	1.07	0.75
Price to Earnings (P/E)	33.65	0.00	0.00	0.00	0.00	60.31	48.88	15.94	-	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Earnings Yield	2.97%	0.00%	0.00%	0.00%	0.00%	1.66%	2.05%	6.27%	-	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.65	0.63	0.49	0.49	0.51	0.51	0.52	0.56	-	1.23	0.83
Enterprise Value to Revenue (EV/Rev)	0.67	0.67	0.51	0.51	0.55	0.55	0.58	0.62	-	1.06	0.74
Enterprise Value to EBITDA (EV/EBITDA)	6.04	7.42	5.79	7.79	6.76	5.32	5.46	4.75	-	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	21.77	76.47	66.01	0.00	0.00	22.28	19.31	11.40	-	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	27.71	118.20	112.49	0.00	0.00	45.77	41.43	14.81	-	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	9.24	9.89	23.03	11.69	8.26	5.66	5.45	5.54	-	7.42	6.61
Enterprise Value to Free Cash Flow (EV/FCFF)	25.20	27.26	81.26	42.61	6.68	5.32	7.47	6.28	-	6.61	4.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.19	0.20	0.18	0.18	0.18	0.18	0.16	0.15	-	0.10	0.03
Long-Term Debt to Equity	0.19	0.20	0.18	0.18	0.18	0.18	0.00	0.00	-	0.00	0.03
Financial Leverage	0.14	0.17	0.14	0.12	0.11	0.12	0.11	0.09	-	0.04	0.04
Leverage Ratio	1.51	1.49	1.47	1.48	1.48	1.46	1.44	1.46	-	1.48	1.44
Compound Leverage Factor	1.17	1.77	0.35	1.74	1.34	1.06	1.03	0.95	-	1.09	1.35
Debt to Total Capital	16.10%	16.44%	15.33%	15.46%	15.55%	15.50%	13.82%	13.22%	-	8.78%	3.07%
Short-Term Debt to Total Capital	0.07%	0.07%	0.08%	0.08%	0.08%	0.08%	13.58%	12.99%	-	8.53%	0.11%
Long-Term Debt to Total Capital	16.02%	16.36%	15.25%	15.39%	15.47%	15.42%	0.24%	0.24%	-	0.24%	2.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Common Equity to Total Capital	83.90%	83.56%	84.67%	84.54%	84.45%	84.50%	86.18%	86.78%	-	91.22%	96.93%
Debt to EBITDA	1.57	2.00	1.88	2.62	2.23	1.77	1.56	1.23	-	-1.05	-0.34
Net Debt to EBITDA	1.03	1.64	1.50	1.66	1.07	0.83	0.80	0.44	-	0.08	0.03
Long-Term Debt to EBITDA	1.56	1.99	1.87	2.60	2.22	1.76	0.03	0.02	-	-0.03	-0.33
Debt to NOPAT	7.21	31.83	36.52	-14.50	-105.97	15.24	11.81	3.84	-	-0.79	-0.28
Net Debt to NOPAT	4.72	26.21	29.16	-9.18	-50.68	7.11	6.06	1.39	-	0.06	0.02
Long-Term Debt to NOPAT	7.18	31.69	36.34	-14.43	-105.43	15.16	0.20	0.07	-	-0.02	-0.27
Altman Z-Score	2.31	2.20	2.09	2.05	2.13	2.14	2.01	2.01	-	2.81	2.59
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.10	3.31	3.26	3.40	3.16	3.42	1.87	1.82	-	1.94	2.35
Quick Ratio	1.59	1.58	1.59	1.62	1.65	1.76	0.96	0.96	-	0.99	1.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	9.41	6.45	5.50	9.66	74	67	46	40	103	176	176
Operating Cash Flow to CapEx	65.55%	-145.70%	0.00%	604.07%	0.00%	0.00%	217.92%	408.75%	-	-56.13%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.73	0.74	0.72	0.68	0.68	0.67	0.65	-	0.71	0.70
Accounts Receivable Turnover	3.71	3.58	3.93	3.96	3.48	3.57	3.32	3.41	-	3.53	3.28
Inventory Turnover	3.16	2.89	2.78	2.69	2.57	2.47	2.35	2.26	-	2.55	2.43
Fixed Asset Turnover	2.68	2.58	2.67	2.69	2.53	2.51	2.44	2.42	-	2.58	2.55
Accounts Payable Turnover	8.62	9.01	9.88	10.08	8.56	9.85	8.51	8.80	-	9.19	8.17
Days Sales Outstanding (DSO)	98.44	101.98	92.82	92.16	104.76	102.35	110.00	107.02	-	103.39	111.26
Days Inventory Outstanding (DIO)	115.68	126.13	131.10	135.91	141.88	147.51	155.15	161.32	-	143.10	150.32
Days Payable Outstanding (DPO)	42.34	40.51	36.94	36.23	42.63	37.05	42.89	41.46	-	39.74	44.66
Cash Conversion Cycle (CCC)	171.79	187.61	186.98	191.84	204.01	212.81	222.27	226.88	-	206.76	216.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	799	804	790	764	741	742	748	727	558	567	580
Invested Capital Turnover	0.98	0.93	0.96	0.95	0.90	0.89	0.86	0.88	-	1.00	0.97
Increase / (Decrease) in Invested Capital	-1.87	-14	-1.32	-17	-58	-63	-43	-37	-182	-175	-168
Enterprise Value (EV)	523	506	385	373	379	377	388	405	-	697	481
Market Capitalization	434	394	285	293	319	318	332	367	-	701	482
Book Value per Share	$11.11	$11.08	$10.75	$10.74	$10.79	$11.07	$11.16	$11.37	$9.59	$9.48	$9.66
Tangible Book Value per Share	$7.46	$7.58	$7.41	$7.60	$7.69	$7.95	$8.10	$8.31	$7.89	$7.82	$8.01
Total Capital	846	829	815	810	806	809	801	794	628	626	600
Total Debt	136	136	125	125	125	125	111	105	55	55	18
Total Long-Term Debt	136	136	124	125	125	125	1.92	1.89	1.67	1.53	18
Net Debt	89	112	100	79	60	59	57	38	-15	-4.04	-1.37
Capital Expenditures (CapEx)	6.40	7.80	-4.67	4.77	-11	-0.03	6.88	7.51	-3.42	3.36	-4.23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	284	305	301	293	276	279	282	266	213	227	248
Debt-free Net Working Capital (DFNWC)	331	329	326	339	341	346	336	333	282	286	268
Net Working Capital (NWC)	331	328	325	338	341	345	227	230	229	232	267
Net Nonoperating Expense (NNE)	1.57	5.55	2.88	6.62	1.33	1.08	0.70	0.80	38	0.35	2.83
Net Nonoperating Obligations (NNO)	89	112	100	79	60	59	57	38	-15	-4.04	-1.37
Total Depreciation and Amortization (D&A)	15	15	15	14	13	12	12	13	12	8.95	8.21
Debt-free, Cash-free Net Working Capital to Revenue	36.34%	40.47%	39.74%	39.77%	39.82%	40.71%	42.48%	40.62%	-	34.63%	38.37%
Debt-free Net Working Capital to Revenue	42.36%	43.66%	43.07%	46.01%	49.26%	50.46%	50.58%	50.85%	-	43.64%	41.44%
Net Working Capital to Revenue	42.28%	43.58%	42.99%	45.93%	49.17%	50.37%	34.20%	35.11%	-	35.48%	41.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.09	($0.21)	$0.02	($0.23)	$0.24	$0.05	$0.05	$0.03	($1.99)	$0.02	$0.10
Adjusted Weighted Average Basic Shares Outstanding	62.69M	62.50M	62.48M	62.08M	62.00M	60.17M	59.15M	57.95M	58.70M	57.79M	58.48M
Adjusted Diluted Earnings per Share	$0.09	($0.21)	$0.02	($0.23)	$0.24	$0.05	$0.05	$0.03	($1.99)	$0.02	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	63.15M	62.50M	62.70M	62.08M	62.00M	60.17M	59.15M	58.02M	58.70M	58.44M	58.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	63.58M	64.22M	63.79M	63.11M	61.76M	61.87M	60.59M	59.75M	60.21M	60.19M	60.32M
Normalized Net Operating Profit after Tax (NOPAT)	7.54	-0.82	1.43	1.63	18	4.24	4.42	2.70	-10	3.96	8.74
Normalized NOPAT Margin	3.62%	-0.49%	0.77%	0.93%	10.66%	2.65%	2.67%	1.64%	-	2.73%	5.58%
Pre Tax Income Margin	2.98%	-7.98%	0.34%	-6.96%	10.33%	2.63%	2.55%	2.02%	-	2.24%	5.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%	0.00%
Augmented Payout Ratio	53.27%	0.00%	-328.77%	-44.06%	-126.24%	370.84%	352.02%	109.62%	-	-10.11%	-8.92%

Financials Breakdown Chart

Key Financial Trends

Oil States International (NYSE: OIS) returned to profitability in Q1 2026, reporting net income of $1.1 million, or $0.02 per diluted share, compared with a $117.2 million loss in Q4 2025. The improvement largely reflects the absence of Q4’s $99.0 million impairment charge. However, earnings remained below Q1 2025, when net income was $3.2 million.

Revenue trends remain challenging. Q1 2026 revenue declined to $145.4 million from $159.9 million a year earlier and $178.5 million in Q4 2025. Gross profit was $33.8 million, producing a relatively stable gross margin of approximately 23.2% compared with 23.3% in Q1 2025. Operating income was $4.3 million, down from $5.6 million a year earlier, while interest and investment expense of $1.2 million continued to weigh on pretax earnings.

Cash generation weakened materially. Operating cash flow was negative $1.9 million in Q1 2026, versus positive operating cash flow of $9.3 million in Q1 2025 and $50.1 million in Q4 2025. The latest quarter included a $13.3 million use of cash from operating assets and liabilities, indicating that working-capital needs—particularly receivables and inventory—pressured liquidity. Capital expenditures were $4.2 million, partially offset by $0.9 million of asset-sale proceeds.

The balance sheet shows both progress and pressure. Cash declined to $59.0 million from $67.1 million in Q3 2025, but total debt fell to approximately $55.9 million from $105.0 million at Q3 2025 and $126.0 million at Q1 2025. The current ratio remained healthy at roughly 1.9, although inventory represented about $195.7 million of current assets. Total equity declined to $571.0 million from $689.0 million at Q3 2025, primarily reflecting the major impairment recorded in Q4.

Return to profitability: Q1 2026 net income of $1.1 million reversed the substantial Q4 2025 loss and restored positive earnings per share.
Significant debt reduction: Total short- and long-term debt declined to approximately $55.9 million, improving leverage and reducing future interest burden.
Stable gross margin: Despite lower revenue, the gross margin held near 23%, suggesting that underlying pricing and cost control were relatively steady outside the unusual Q4 impairment period.
Moderate capital spending: Q1 capital expenditures of $4.2 million were below the $10.3 million recorded in Q2 2025 and $9.2 million in Q1 2025, conserving cash during a weaker revenue environment.
Improved liquidity coverage: Current assets of $480.3 million exceeded current liabilities of $248.1 million, but much of the asset base consisted of receivables and inventory rather than cash.
Share count trending lower: Basic weighted-average shares declined to 57.8 million from 60.2 million in Q1 2025, though the company reported no share repurchases in Q1 2026 after conducting buybacks in earlier quarters.
Revenue contraction: Q1 revenue fell approximately 9% year over year and 19% sequentially, continuing the decline from the $208.3 million quarterly revenue reported in Q4 2023.
Negative operating cash flow: The company used $1.9 million in operating cash during Q1 2026, and cash fell by $10.9 million after investing and financing outflows.
Working-capital pressure: Receivables of $187.2 million and inventory of $195.7 million remained substantial relative to quarterly revenue, while changes in operating assets and liabilities consumed $13.3 million of cash.
Asset base and equity erosion: Intangible assets fell to $30.0 million from $122.2 million in Q1 2025, and total equity dropped sharply after the Q4 impairment, highlighting the risk of further write-downs if operating conditions deteriorate.

Overall, OIS’s latest results show a recovery from the impairment-driven Q4 loss and a much stronger debt position, but the underlying operating trend is mixed. Investors should focus on whether revenue stabilizes, operating cash flow returns consistently to positive territory and the company can convert its large receivables and inventory balances into cash without additional balance-sheet charges.

08/15/26 05:15 AM ETAI Generated. May Contain Errors.

Oil States International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Oil States International's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Over the last 10 years, Oil States International's net income changed from $28.60 million in 2015 to -$109.38 million in 2025, a change of -482.5%. See where experts think Oil States International is headed by visiting Oil States International's forecast page.

Oil States International's total operating income in 2025 was -$97.97 million, based on the following breakdown:

Total Gross Profit: $133.25 million
Total Operating Expenses: $231.23 million

Over the last 10 years, Oil States International's total revenue changed from $1.10 billion in 2015 to $668.99 million in 2025, a change of -39.2%.

Oil States International's total liabilities were at $310.24 million at the end of 2025, a 4.4% decrease from 2024, and a 9.0% decrease since 2015.

In the past 10 years, Oil States International's cash and equivalents has ranged from $8.49 million in 2019 to $72.01 million in 2020, and is currently $69.91 million as of their latest financial filing in 2025.

Over the last 10 years, Oil States International's book value per share changed from 24.72 in 2015 to 9.59 in 2025, a change of -61.2%.

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Financial statements for NYSE:OIS last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Oil States International (OIS) Financials

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Oil States International (OIS) Financials

Annual Income Statements for Oil States International

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Key Financial Trends

Oil States International Financials - Frequently Asked Questions

When does Oil States International's financial year end?

How has Oil States International's net income changed over the last 10 years?

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