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DCF valuation

What is Oil States International, Inc worth?

With the base-case assumptions below, a discounted cash flow model on Oil States International, Inc's reported free cash flow gives $18.35 per share. The share price was $8.28 on September 25, 2026, 55% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$73.9M
Average free cash flow, last 5 years
$22.1M
Cash
$19.8M
balance sheet of June 30, 2026
Debt
$17.8M
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
58,697,000
Revenue growth per year, last 5 years
1.0%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-4.0%-1.0%2.0%10.0%$11.45+38%
Base1.0%2.0%2.5%9.0%$18.35+122%
Bull6.0%4.5%3.0%8.0%$31.24+277%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$23.16$24.60$26.37$28.58$31.42
8.0%$19.59$20.52$21.63$22.96$24.59
9.0%$16.97$17.61$18.35$19.21$20.23
10.0%$14.97$15.43$15.94$16.53$17.21
11.0%$13.39$13.72$14.10$14.52$14.99

Where the presets come from

Base: years 1 to 5 grow at Oil States International, Inc's revenue growth rate over the last 5 fiscal years (1.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Oil States International, Inc company page