OIL STATES INTERNATIONAL, INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data OIL STATES INTERNATIONAL, INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	694	671	1,088	1,017	638	573	738	782	693	669
Cost of revenue	288	521	835	803	562	470	579	607	536	536
Gross profit	406	150	254	215	76.3	103	159	175	156	133
Research and development		5.3	6.6	7	6.1	4.4	3.5	4.5	5.2	5.1
Selling, general and administrative	124	115	138	123	94.1	83.7	96	94.2	95	90.4
Operating expenses	764	744	1,094	1,246
Operating income	-69.3	-73.9	-5.88	-228	-534	-64.8	2.91	23.2	-1.69	-98
Interest expense	5.34	4.67	19.3	17.9	14.3	10.3	10.6	9.57	8.8	7.71
Interest income	0.4	0.36	0.32	0.26	0.39	0.16	0.29	1.38	1.07	1.86
Other non-operating income	0.9	0.78	3.14	5.09	13.9	1.63	3.32	0.85	1.57	1.29
Pre-tax income	-73.3	-77.4	-21.7	-241	-534	-73.3	-4.06	15.8	-7.85	-103
Income tax	-26.9	7.44	-2.63	-8.92	-65.9	-9.34	5.48	2.93	3.41	6.85
Income from continuing operations	-46.4	-84.9	-19.1	-232	-468
Net income	-46.4	-84.9	-19.1	-232	-468	-64	-9.54	12.9	-11.3	-109
EBITDA	49.4	33.8	118	-105	-436	15.9	70.2	83.9	53	-50.5
EPS, basic	-0.92	-1.69	-0.33	-3.90	-7.83	-1.06	-0.15	0.20	-0.18	-1.86
EPS, diluted	-0.92	-1.69	-0.33	-3.90	-7.83	-1.06	-0.15	0.20	-0.18	-1.86
Shares, basic (weighted)	50.2	50.1	58.7	59.4	59.8	60.3	61.6	62.7	62	58.7
Shares, diluted (weighted)	50.2	50.1	58.7	59.4	59.8	60.3	61.6	63.2	62	58.7

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	68.8	53.5	19.3	8.49	72	52.9	42	47.1	65.4	69.9
Receivables	235	216	284	233	163	186	219	203	194	202
Inventory	175	168	209	221	170	169	183	202	215	183
Other current assets	11.2	18.1	21.7	20.1	18.1	19.2	19.3	35.6	17.2	22.2
Total current assets	490	456	534	483	424	427	463	488	498	495
Property, plant and equipment	553	499	540	460	384	339	304	280	267	244
Lease right-of-use assets			0	43.6	33.1	25.4	23	22	19.5	12.7
Goodwill	263	268	647	482	76.5	76.4	79.3	79.9	69.7	70.5
Intangible assets	52.7	50.3	255	230	206	186	170	153	126	31.5
Other non-current assets	24.4	28.4	27	28.7	29.7	32.9	25.7	23.3	24.9	29
Total assets	1,384	1,302	2,004	1,728	1,152	1,086	1,064	1,046	1,005	883
Accounts payable	34.2	49.1	77.5	78.4	46.4	63.3	73.3	67.5	57.7	68.1
Accrued liabilities	45.3	45.9	60.7	48.8	44.5	43.4	49.1	44.2	36.9	38.5
Deferred revenue	21.3	18.2	14.2	17.8	43.4	43.2	44.8	36.8	52.4	97.2
Short-term debt	0.54	0.41	25.6	25.6	17.8	18.3	17.8	0.63	0.63	53.4
Total current liabilities	107	115	181	183	162	177	194	157	158	266
Long-term debt	45.4	4.87	306	223	166	160	135	136	125	1.67
Lease liabilities			0	35.8	29.2	23.5	20.7	18.3	18	12.7
Other non-current liabilities	21.9	23.9	23	24.4	23.3	25.1	18.8	18.1	18.8	24
Total liabilities	180	169	564	504	395	390	375	337	324	310
Total debt	45.9	5.28	332	248	166	160	135	136	125	1.67
Paid-in capital	732	755	1,098	1,115	1,123	1,105	1,122	1,129	1,138	1,146
Retained earnings	1,133	1,049	1,030	798	329	282	272	285	274	164
Treasury stock	-591	-613	-617	-621	-624	-626	-627	-635	-652	-671
Other comprehensive income	-70.3	-58.5	-71.4	-67.7	-71.4	-66	-78.9	-70	-79.5	-66.3
Shareholders' equity	1,204	1,133	1,440	1,224	758	696	690	710	681	573
Total equity	1,204	1,133	1,440	1,224	758	696	690	710	681	573
Total liabilities and equity	1,384	1,302	2,004	1,728	1,152	1,086	1,064	1,046	1,005	883
Shares outstanding	51.4	51.1	60	60.5	61	61.4	63.9	63.3	61.5	59.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-46.4	-84.9	-19.1	-232	-468	-64	-9.54	12.9	-11.3	-109
Depreciation and amortization	119	108	124	123	98.5	80.7	67.3	60.8	54.7	47.4
Stock-based compensation	21.3	23	22.6	16.8	8.43	7.88	6.85	6.95	8.72	7.71
Deferred income tax	-37.6	16.3	-3.49	-15.5	-24.4	-8.64	2.02	0.23	-2.36	0.59
Change in receivables				50.3	63.9	-24.4	-35.4	17.1	5.19	-4.14
Change in inventory	32.2	11.3	-7.28	-10.8	17.6	-10.3	-17.4	-19.8	-14.7	3.18
Change in payables	-27.7	14	5.8	-6.17	-37.3	17.7	18.2	-11.7	-19.4	5.88
Cash from operations	149	95.4	103	137	133	7.19	32.9	56.6	45.9	105
Capital expenditures	-29.7	-35.2	-88	-56.1	-12.7	-17.5	-20.3	-30.7	-37.5	-31.2
Acquisitions	0	-12.9	-380	0	0	0	-8.13	0	0
Cash from investing	-29.3	-47.6	-461	-52	-3.73	-6.63	-22.7	-25.6	2.7	-11.1
Debt repaid							0	0	-10.8	-70.4
Stock issued	0.4
Share buybacks	0	-16.3	0	-0.76	0	0	0	-6.87	-14.2	-16.6
Cash from financing	-84.9	-65.1	324	-95.9	-65	-19.6	-20.3	-26.7	-29.5	-90.2
Exchange rate effect	-2.26	1.95	0	-0.37	-0.49	-0.16	-0.68	0.82	-0.86	0.64
Net change in cash	32.8	-15.3	-34.1	-10.8	63.5	-19.2	-10.8	5.09	18.3	4.55
Free cash flow	120	60.2	15.1	81.3	120	-10.3	12.6	25.9	8.39	73.9
Interest paid	3.94	4.21	9.86	9.63	6.4	6.53	8.34	7.87	7.44	7.15
Income taxes paid	2.33	-0.17	2.99	-1.3	-36.8	0.15	0.53	1.26	3.85	7.09

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $8.28 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	19.9%	Gross profit / revenue.
Operating margin	-14.4%	Operating income / revenue.
EBITDA margin	-8.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-15.5%	Pre-tax income / revenue.
Net margin	-16.8%	Net income / revenue.
FCF margin	8.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.3%	Cash from operations / revenue.
Return on equity (ROE)	-18.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-12.9%	Net income / average total assets.
Return on invested capital (ROIC)	-12.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	13.6%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.9%	Capital expenditures / revenue.
D&A / revenue	6.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	1.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-14.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-5.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	11.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-195.3%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	129.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	47.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-4.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	781.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	80.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-9.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-15.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-6.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-5.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-12.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-6.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-5.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.35x	Current assets / current liabilities.
Quick ratio	1.10x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.10x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.03x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	2.1%	Total debt / total assets.
Liabilities / assets	30.7%	Total liabilities / total assets.
Net debt	-$2.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$266.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	11.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$482.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.77x	Revenue / average total assets.
Fixed asset turnover	2.78x	Revenue / average property, plant and equipment.
Inventory turnover	2.47x	Cost of revenue / average inventory.
Days inventory	148 days	365 x average inventory / cost of revenue.
Receivables turnover	3.28x	Revenue / average receivables.
Days sales outstanding	111 days	365 x average receivables / revenue.
Days payables	49 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	211 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	25.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.85	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$11.01	Revenue / diluted weighted shares.
FCF per share	$0.92	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.24	Cash from operations / diluted weighted shares.
Book value per share	$9.63	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.99	Tangible book value / shares outstanding.
Cash per share	$0.33	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	18.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$499.5M	Share price x shares outstanding.
Enterprise value	$497.4M	Market cap + total debt - cash - short-term investments.
P/S	0.77x	Market cap / revenue.
P/B	0.86x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.04x	Market cap / tangible book value, when positive.
P/FCF	9.28x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.87x	Market cap / cash from operations, when positive.
EV/Sales	0.77x	Enterprise value / revenue.
EV/FCF	9.24x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.8%	Free cash flow / market cap.
Earnings yield	-21.7%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.9%	(Dividends paid + share buybacks) / market cap.

What was OIL STATES INTERNATIONAL, INC's revenue in fiscal 2025?

OIL STATES INTERNATIONAL, INC reported revenue of $669.0M for fiscal 2025, 3.4% lower than the year before.

Was OIL STATES INTERNATIONAL, INC profitable in fiscal 2025?

No. It reported a net loss of $109.4M.

How much free cash flow did OIL STATES INTERNATIONAL, INC generate in fiscal 2025?

Cash from operations of $105.1M minus capital expenditures of $31.2M left free cash flow of $73.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to OIL STATES INTERNATIONAL, INC