# Oil States International, Inc. (OIS)

> Source: Nexqual · https://nexqual.com/OIS · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Oil States International, Inc. (OIS), nexqual.com/OIS" · informational, not investment advice.

**Price:** USD 9.08 (-1.20% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 9.19 · day 9.02–9.22 · 52w 5.5–14.5 · market cap $548M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $646M, net income -$108M (-16.8% margin), free cash flow $53.8M (SEC filings).
- 1 of 80 tracked superinvestors hold OIS (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 11.25 (range 9–14).
- Total return with dividends: 1Y +35.5% vs S&P 500 +14.8%; 5Y +49.8% vs S&P 500 +79.1%.
- Next earnings: 2026-10-30, EPS estimate USD 0.12, revenue estimate $163M. All companies reporting that day: https://nexqual.com/earnings/2026-10-30
- Dividend: OIS paid no cash dividend in the last five years.
- Short interest: 3.70% of float (as of 2026-10-15), 2.7 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $573M | $738M | $782M | $693M | $669M | $646M |
| Gross profit | $103M | $159M | $175M | $156M | $133M | — |
| Operating income | -$64.8M | $2.9M | $23.2M | -$1.7M | -$98.0M | -$92.9M |
| Net income | -$64.0M | -$9.5M | $12.9M | -$11.3M | -$109M | -$108M |
| EPS (diluted) | -$1.06 | -$0.15 | $0.20 | -$0.18 | -$1.86 | — |
| Free cash flow | -$10.3M | $12.6M | $25.9M | $8.4M | $73.9M | $53.8M |
| Gross margin | 17.9% | 21.6% | 22.4% | 22.6% | 19.9% | — |
| Operating margin | -11.3% | 0.4% | 3.0% | -0.2% | -14.6% | -14.4% |
| Net margin | -11.2% | -1.3% | 1.6% | -1.6% | -16.3% | -16.8% |
| Revenue growth | -10.2% | +28.7% | +6.0% | -11.5% | -3.4% | — |
| Cash + short-term investments | $52.9M | $42.0M | $47.1M | $65.4M | $69.9M | — |
| Total debt | $179M | $153M | $136M | $125M | $55.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.8x · EV/Sales 0.8x · P/FCF 10.2x · P/B 0.9x · FCF yield 9.83% · Earnings yield -19.78% · Buyback yield (TTM) 1.76% · Net cash $1.4M · EV $546M
P/E at fiscal year-ends: Dec 2023 33.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold OIS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $16.1M | Reduced -1.9% |

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 11.25 (low 9, high 14).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | Susquehanna | Target raised | Neutral | $8 → $9 |
| 2026-07-31 | Stifel | Target lowered | Buy | $15 → $14 |
| 2026-07-10 | Raymond James | Target lowered | Outperform | $14 → $12 |
| 2026-07-08 | Susquehanna | Target lowered | Neutral | $11 → $8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +35.5% | +49.8% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +35.8% | +8.4% |
| Volatility (annualized) | 53.0% | 60.2% |
| Max drawdown | -47.3% (Feb 2026→Jul 2026) | -66.8% (Feb 2023→Apr 2025) |

## Dividends
OIS paid no cash dividend in the last five years.

## Short interest
2,099,609 shares sold short, 3.70% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 2,464,653 shares (-14.8%). Days to cover: 2.7 (short shares ÷ average daily volume).

## Peers (Oil & Gas Equipment & Services)
ACDC (ProFrac Holding Corp.) USD 4.85 -2.81% · FTK (Flotek Industries, Inc.) USD 25.68 -1.53% · PUMP (ProPetro Holding Corp.) USD 7.87 +1.42% · FET (Forum Energy Technologies, Inc.) USD 88.76 -2.36% · AESI (Atlas Energy Solutions Inc.) USD 9.26 -1.91% · VTOL (Bristow Group, Inc.) USD 42.05 +1.47%

## More
Full page: https://nexqual.com/OIS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Offshore Manufactured Products | $92.7M | 59.2% | -13.0% | $13.9M | 15.0% |
| Downhole Technologies | $39.7M | 25.3% | +34.9% | $2.7M | 6.9% |
| Completion and Production Services | $24.3M | 15.5% | -17.5% | $3.9M | 16.1% |
| Corporate costs (not allocated) | — | — | — | -$8.9M | — |
| Total revenue | $156.7M | 100% | — | $11.7M | 7.5% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Products | $98.8M | 63.0% | -8.0% |
| Services | $57.9M | 37.0% | -0.3% |
| Total revenue | $156.7M | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $410.6M | 61.4% | -15.3% |
| United Kingdom | $120.1M | 18.0% | +15.7% |
| Other | $84.2M | 12.6% | +29.5% |
| Singapore | $54.1M | 8.1% | +39.4% |
| Total revenue | $669.0M | 100% | — |

## Customer concentration

Period ended 2025-09-30: 17% of revenue from unnamed direct customers (10-Q, filed 2025-10-31).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.12 | $0.17 | -27.9% | $162.6M | 4 |
| Next quarter (ends 2026-12-31) | $0.18 | $0.21 | -16.8% | $178.6M | 4 |
| Current fiscal year (ends 2026-12-31) | $0.48 | $0.56 | -14.3% | $643.0M | 4 |
| Next fiscal year (ends 2027-12-31) | $0.71 | $0.86 | -17.8% | $707.0M | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-30): ±16.6%; last 8 reports averaged ±14.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 70.0% | ±16.6% |
| 2026-12-18 | 50 | 64.3% | ±21.2% |
| 2027-03-19 | 141 | 41.3% | ±22.3% |
| 2027-06-17 | 231 | 59.2% | ±38.6% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Jul 30, 2026 | Quarter ended Jun 30, 2026 | $0.14 | $0.11 | Beat +27.3% | +4.6% |
| May 5, 2026 | Quarter ended Mar 31, 2026 | $0.09 | $0.09 | In line | -20.4% |
| Feb 20, 2026 | Quarter ended Dec 31, 2025 | $0.13 | $0.10 | Beat +30.0% | +35.2% |
| Oct 31, 2025 | Quarter ended Sep 30, 2025 | $0.08 | $0.09 | Miss −11.1% | -5.5% |
| Jul 31, 2025 | — | — | — | — | -13.3% |
| May 1, 2025 | — | — | — | — | +23.4% |
| Feb 21, 2025 | — | — | — | — | -3.7% |
| Oct 30, 2024 | — | — | — | — | +13.2% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-07-30 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1121484/000112148426000033/0001121484-26-000033-index.htm |
| 2026-07-30 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1121484/000112148426000031/0001121484-26-000031-index.htm |
| 2026-07-28 | Schedule 13G/A | Franklin Resources, Inc., Charles B. Johnson: 0.9% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1121484/000003877726000208/0000038777-26-000208-index.htm |
| 2026-07-14 | Schedule 13G/A | Dimensional Fund Advisors LP: 5.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1121484/000035420426000846/0000354204-26-000846-index.htm |
| 2026-07-13 | 8-K | Director or executive officer change, or pay arrangement — “On July 9, 2026, Oil States International, Inc. (the "Company") and Mr. Lloyd A. Hajdik, the Company's President and Chief Executive Officer, entered into an amendment (the "Amendment") to his Executive Agreement originally effective as of December 9, 2013 (as amended, the "Executive Agreement"), which restructures the calculation of severance benefits payable upon certain qualifying termination events. All other terms of the Executive Agreement remain in full force and effect. Under the Amendment, if Mr. Hajdik…” | https://www.sec.gov/Archives/edgar/data/1121484/000112148426000029/0001121484-26-000029-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.