Intrinsic value of Oil States International - OIS

Previous Close

$21.91

  Intrinsic Value

$3.39

stock screener

  Rating & Target

str. sell

-85%

Previous close

$21.91

 
Intrinsic value

$3.39

 
Up/down potential

-85%

 
Rating

str. sell

We calculate the intrinsic value of OIS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  1,073
  1,658
  2,479
  3,597
  5,075
  6,977
  9,365
  12,297
  15,824
  19,987
  24,819
  30,344
  36,574
  43,516
  51,167
  59,520
  68,562
  78,279
  88,655
  99,674
  111,323
  123,588
  136,461
  149,937
  164,011
  178,688
  193,972
  209,874
  226,409
  243,595
Variable operating expenses, $m
  861
  1,313
  1,947
  2,811
  3,953
  5,422
  7,267
  9,532
  12,256
  15,472
  19,174
  23,442
  28,255
  33,618
  39,529
  45,981
  52,967
  60,473
  68,489
  77,002
  86,001
  95,477
  105,422
  115,832
  126,705
  138,044
  149,851
  162,136
  174,910
  188,187
Fixed operating expenses, $m
  202
  207
  211
  216
  221
  226
  231
  236
  241
  246
  252
  257
  263
  269
  274
  280
  287
  293
  299
  306
  313
  320
  327
  334
  341
  349
  356
  364
  372
  380
Total operating expenses, $m
  1,063
  1,520
  2,158
  3,027
  4,174
  5,648
  7,498
  9,768
  12,497
  15,718
  19,426
  23,699
  28,518
  33,887
  39,803
  46,261
  53,254
  60,766
  68,788
  77,308
  86,314
  95,797
  105,749
  116,166
  127,046
  138,393
  150,207
  162,500
  175,282
  188,567
Operating income, $m
  10
  138
  321
  570
  902
  1,330
  1,868
  2,530
  3,327
  4,268
  5,394
  6,645
  8,056
  9,630
  11,364
  13,258
  15,308
  17,512
  19,866
  22,366
  25,009
  27,792
  30,713
  33,771
  36,965
  40,296
  43,764
  47,374
  51,127
  55,028
EBITDA, $m
  182
  387
  677
  1,073
  1,597
  2,274
  3,124
  4,170
  5,428
  6,914
  8,639
  10,613
  12,839
  15,320
  18,055
  21,041
  24,274
  27,749
  31,459
  35,400
  39,566
  43,953
  48,558
  53,378
  58,412
  63,662
  69,130
  74,819
  80,734
  86,882
Interest expense (income), $m
  4
  1
  20
  47
  84
  136
  204
  292
  402
  537
  700
  892
  1,114
  1,369
  1,656
  1,976
  2,329
  2,714
  3,131
  3,579
  4,057
  4,566
  5,103
  5,668
  6,262
  6,883
  7,532
  8,208
  8,913
  9,646
  10,409
Earnings before tax, $m
  9
  119
  274
  486
  766
  1,126
  1,576
  2,128
  2,790
  3,569
  4,502
  5,530
  6,687
  7,973
  9,388
  10,929
  12,594
  14,381
  16,287
  18,308
  20,443
  22,689
  25,045
  27,509
  30,082
  32,764
  35,556
  38,461
  41,480
  44,619
Tax expense, $m
  2
  32
  74
  131
  207
  304
  426
  575
  753
  964
  1,216
  1,493
  1,806
  2,153
  2,535
  2,951
  3,400
  3,883
  4,397
  4,943
  5,520
  6,126
  6,762
  7,427
  8,122
  8,846
  9,600
  10,384
  11,200
  12,047
Net income, $m
  7
  87
  200
  355
  559
  822
  1,151
  1,553
  2,036
  2,605
  3,287
  4,037
  4,882
  5,821
  6,853
  7,978
  9,194
  10,498
  11,889
  13,365
  14,923
  16,563
  18,283
  20,082
  21,960
  23,918
  25,956
  28,076
  30,281
  32,572

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,079
  3,213
  4,805
  6,971
  9,836
  13,522
  18,150
  23,832
  30,666
  38,734
  48,099
  58,805
  70,880
  84,333
  99,161
  115,348
  132,872
  151,703
  171,811
  193,167
  215,742
  239,512
  264,460
  290,575
  317,851
  346,294
  375,915
  406,733
  438,777
  472,083
Adjusted assets (=assets-cash), $m
  2,079
  3,213
  4,805
  6,971
  9,836
  13,522
  18,150
  23,832
  30,666
  38,734
  48,099
  58,805
  70,880
  84,333
  99,161
  115,348
  132,872
  151,703
  171,811
  193,167
  215,742
  239,512
  264,460
  290,575
  317,851
  346,294
  375,915
  406,733
  438,777
  472,083
Revenue / Adjusted assets
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
  0.516
Average production assets, $m
  1,094
  1,691
  2,529
  3,669
  5,177
  7,117
  9,553
  12,543
  16,140
  20,386
  25,315
  30,950
  37,306
  44,386
  52,191
  60,710
  69,933
  79,844
  90,428
  101,668
  113,549
  126,060
  139,191
  152,935
  167,292
  182,262
  197,851
  214,072
  230,937
  248,467
Working capital, $m
  460
  711
  1,064
  1,543
  2,177
  2,993
  4,018
  5,276
  6,788
  8,574
  10,647
  13,017
  15,690
  18,668
  21,951
  25,534
  29,413
  33,582
  38,033
  42,760
  47,757
  53,019
  58,542
  64,323
  70,361
  76,657
  83,214
  90,036
  97,129
  104,502
Total debt, $m
  107
  254
  461
  743
  1,115
  1,594
  2,196
  2,935
  3,823
  4,872
  6,089
  7,481
  9,051
  10,800
  12,727
  14,832
  17,110
  19,558
  22,172
  24,948
  27,883
  30,973
  34,216
  37,611
  41,157
  44,855
  48,705
  52,712
  56,878
  61,207
Total liabilities, $m
  270
  418
  625
  906
  1,279
  1,758
  2,360
  3,098
  3,987
  5,035
  6,253
  7,645
  9,214
  10,963
  12,891
  14,995
  17,273
  19,721
  22,335
  25,112
  28,046
  31,137
  34,380
  37,775
  41,321
  45,018
  48,869
  52,875
  57,041
  61,371
Total equity, $m
  1,809
  2,795
  4,180
  6,065
  8,557
  11,764
  15,791
  20,734
  26,680
  33,699
  41,846
  51,161
  61,666
  73,370
  86,270
  100,353
  115,598
  131,981
  149,476
  168,055
  187,695
  208,376
  230,080
  252,800
  276,531
  301,276
  327,046
  353,858
  381,736
  410,712
Total liabilities and equity, $m
  2,079
  3,213
  4,805
  6,971
  9,836
  13,522
  18,151
  23,832
  30,667
  38,734
  48,099
  58,806
  70,880
  84,333
  99,161
  115,348
  132,871
  151,702
  171,811
  193,167
  215,741
  239,513
  264,460
  290,575
  317,852
  346,294
  375,915
  406,733
  438,777
  472,083
Debt-to-equity ratio
  0.060
  0.090
  0.110
  0.120
  0.130
  0.140
  0.140
  0.140
  0.140
  0.140
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
Adjusted equity ratio
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870
  0.870

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  7
  87
  200
  355
  559
  822
  1,151
  1,553
  2,036
  2,605
  3,287
  4,037
  4,882
  5,821
  6,853
  7,978
  9,194
  10,498
  11,889
  13,365
  14,923
  16,563
  18,283
  20,082
  21,960
  23,918
  25,956
  28,076
  30,281
  32,572
Depreciation, amort., depletion, $m
  172
  249
  356
  502
  696
  944
  1,257
  1,640
  2,101
  2,645
  3,246
  3,968
  4,783
  5,691
  6,691
  7,783
  8,966
  10,236
  11,593
  13,034
  14,558
  16,162
  17,845
  19,607
  21,448
  23,367
  25,366
  27,445
  29,607
  31,855
Funds from operations, $m
  179
  335
  556
  857
  1,255
  1,766
  2,407
  3,193
  4,137
  5,251
  6,532
  8,005
  9,665
  11,511
  13,544
  15,761
  18,159
  20,735
  23,483
  26,399
  29,481
  32,725
  36,128
  39,689
  43,407
  47,284
  51,321
  55,521
  59,888
  64,427
Change in working capital, $m
  173
  251
  352
  480
  634
  816
  1,025
  1,258
  1,513
  1,786
  2,073
  2,370
  2,673
  2,978
  3,282
  3,583
  3,879
  4,169
  4,451
  4,727
  4,997
  5,262
  5,523
  5,781
  6,038
  6,296
  6,557
  6,822
  7,093
  7,373
Cash from operations, $m
  6
  85
  204
  377
  621
  950
  1,383
  1,935
  2,625
  3,465
  4,459
  5,635
  6,992
  8,533
  10,262
  12,178
  14,280
  16,566
  19,031
  21,672
  24,484
  27,463
  30,605
  33,908
  37,369
  40,988
  44,764
  48,699
  52,795
  57,054
Maintenance CAPEX, $m
  -88
  -140
  -217
  -324
  -470
  -664
  -912
  -1,225
  -1,608
  -2,069
  -2,614
  -3,246
  -3,968
  -4,783
  -5,691
  -6,691
  -7,783
  -8,966
  -10,236
  -11,593
  -13,034
  -14,558
  -16,162
  -17,845
  -19,607
  -21,448
  -23,367
  -25,366
  -27,445
  -29,607
New CAPEX, $m
  -410
  -596
  -838
  -1,140
  -1,507
  -1,940
  -2,436
  -2,991
  -3,597
  -4,246
  -4,929
  -5,635
  -6,355
  -7,081
  -7,804
  -8,520
  -9,223
  -9,911
  -10,584
  -11,240
  -11,882
  -12,511
  -13,131
  -13,745
  -14,356
  -14,970
  -15,590
  -16,220
  -16,865
  -17,529
Cash from investing activities, $m
  -498
  -736
  -1,055
  -1,464
  -1,977
  -2,604
  -3,348
  -4,216
  -5,205
  -6,315
  -7,543
  -8,881
  -10,323
  -11,864
  -13,495
  -15,211
  -17,006
  -18,877
  -20,820
  -22,833
  -24,916
  -27,069
  -29,293
  -31,590
  -33,963
  -36,418
  -38,957
  -41,586
  -44,310
  -47,136
Free cash flow, $m
  -491
  -652
  -851
  -1,087
  -1,357
  -1,654
  -1,966
  -2,280
  -2,580
  -2,851
  -3,083
  -3,245
  -3,332
  -3,330
  -3,233
  -3,033
  -2,726
  -2,311
  -1,789
  -1,161
  -432
  394
  1,313
  2,318
  3,406
  4,571
  5,808
  7,113
  8,484
  9,917
Issuance/(repayment) of debt, $m
  102
  147
  207
  282
  372
  479
  602
  739
  888
  1,049
  1,217
  1,392
  1,570
  1,749
  1,928
  2,104
  2,278
  2,448
  2,614
  2,776
  2,935
  3,090
  3,243
  3,395
  3,546
  3,698
  3,851
  4,006
  4,166
  4,330
Issuance/(repurchase) of shares, $m
  670
  899
  1,185
  1,530
  1,933
  2,385
  2,876
  3,390
  3,909
  4,414
  4,861
  5,277
  5,623
  5,884
  6,047
  6,105
  6,052
  5,885
  5,605
  5,214
  4,717
  4,117
  3,422
  2,638
  1,771
  828
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  772
  1,046
  1,392
  1,812
  2,305
  2,864
  3,478
  4,129
  4,797
  5,463
  6,078
  6,669
  7,193
  7,633
  7,975
  8,209
  8,330
  8,333
  8,219
  7,990
  7,652
  7,207
  6,665
  6,033
  5,317
  4,526
  3,851
  4,006
  4,166
  4,330
Total cash flow (excl. dividends), $m
  280
  394
  541
  725
  948
  1,211
  1,512
  1,849
  2,217
  2,612
  2,995
  3,424
  3,861
  4,302
  4,742
  5,177
  5,604
  6,022
  6,431
  6,829
  7,219
  7,602
  7,978
  8,351
  8,723
  9,096
  9,658
  11,120
  12,650
  14,247
Retained Cash Flow (-), $m
  -676
  -986
  -1,385
  -1,885
  -2,492
  -3,207
  -4,027
  -4,943
  -5,946
  -7,019
  -8,147
  -9,315
  -10,505
  -11,704
  -12,900
  -14,083
  -15,245
  -16,383
  -17,494
  -18,579
  -19,640
  -20,680
  -21,705
  -22,720
  -23,731
  -24,745
  -25,770
  -26,812
  -27,878
  -28,976
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -396
  -592
  -844
  -1,160
  -1,544
  -1,996
  -2,515
  -3,095
  -3,728
  -4,407
  -5,153
  -5,891
  -6,644
  -7,402
  -8,158
  -8,906
  -9,641
  -10,361
  -11,064
  -11,750
  -12,421
  -13,079
  -13,727
  -14,368
  -15,008
  -15,649
  -16,112
  -15,692
  -15,229
  -14,729
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -380
  -542
  -735
  -955
  -1,197
  -1,449
  -1,699
  -1,934
  -2,142
  -2,310
  -2,447
  -2,514
  -2,526
  -2,485
  -2,395
  -2,263
  -2,098
  -1,908
  -1,704
  -1,493
  -1,285
  -1,085
  -900
  -732
  -584
  -457
  -346
  -243
  -166
  -111
Current shareholders' claim on cash, %
  66.2
  46.4
  34.0
  25.8
  20.3
  16.3
  13.5
  11.4
  9.8
  8.6
  7.6
  6.9
  6.3
  5.8
  5.4
  5.1
  4.9
  4.7
  4.5
  4.4
  4.3
  4.2
  4.1
  4.1
  4.1
  4.0
  4.0
  4.0
  4.0
  4.0

Oil States International, Inc., through its subsidiaries, provides specialty products and services to oil and natural gas related companies throughout the world. The Company operates as a technology-focused energy services company. The Company operates through two segments: Offshore Products and Well Site Services. Through Offshore Products segment, the Company provides engineered products and services for offshore oil and natural gas production systems and facilities, as well as certain products and services to the offshore and land-based drilling and completion markets. The Company's well site services segment includes a range of products and services that are used to drill for, establish and maintain the flow of oil and natural gas from a well throughout its life cycle. The Company operates in active oil and natural gas producing regions, including onshore and offshore the United States, Canada, West Africa, the North Sea, South America and Southeast and Central Asia.

FINANCIAL RATIOS  of  Oil States International (OIS)

Valuation Ratios
P/E Ratio -24.5
Price to Sales 1.6
Price to Book 0.9
Price to Tangible Book
Price to Cash Flow 7.6
Price to Free Cash Flow 9.5
Growth Rates
Sales Growth Rate -36.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -73.9%
Cap. Spend. - 3 Yr. Gr. Rate -28.9%
Financial Strength
Quick Ratio 69
Current Ratio 0
LT Debt to Equity 3.7%
Total Debt to Equity 3.8%
Interest Coverage -17
Management Effectiveness
Return On Assets -2.9%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital -3.5%
Ret/ On T. Cap. - 3 Yr. Avg. 1.9%
Return On Equity -3.7%
Return On Equity - 3 Yr. Avg. 2.5%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 24.2%
Gross Margin - 3 Yr. Avg. 28.8%
EBITDA Margin 7.2%
EBITDA Margin - 3 Yr. Avg. 14.7%
Operating Margin -10.1%
Oper. Margin - 3 Yr. Avg. 2.2%
Pre-Tax Margin -10.5%
Pre-Tax Margin - 3 Yr. Avg. 1.6%
Net Profit Margin -6.6%
Net Profit Margin - 3 Yr. Avg. 1.9%
Effective Tax Rate 37%
Eff/ Tax Rate - 3 Yr. Avg. 39.1%
Payout Ratio 0%

OIS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the OIS stock intrinsic value calculation we used $670.627 million for the last fiscal year's total revenue generated by Oil States International. The default revenue input number comes from 0001 income statement of Oil States International. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our OIS stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for OIS is calculated based on our internal credit rating of Oil States International, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Oil States International.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of OIS stock the variable cost ratio is equal to 82%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $198 million in the base year in the intrinsic value calculation for OIS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 18.3% for Oil States International.

Corporate tax rate of 27% is the nominal tax rate for Oil States International. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the OIS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for OIS are equal to 102%.

Life of production assets of 7.8 years is the average useful life of capital assets used in Oil States International operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for OIS is equal to 42.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1132.713 million for Oil States International - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 59.985 million for Oil States International is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Oil States International at the current share price and the inputted number of shares is $1.3 billion.

RELATED COMPANIES Price Int.Val. Rating
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FTI TechnipFMC 23.94 39.00  buy
SLB Schlumberger 47.81 40.68  sell
HAL Halliburton 32.25 1.60  str.sell

COMPANY NEWS

▶ Oil States International: 3Q Earnings Snapshot   [07:29AM  Associated Press]
▶ Oil States Updates Third Quarter 2018 Guidance   [Oct-17-18 05:15PM  GlobeNewswire]
▶ Oil States International chairman resigns, joins Schlumberger's board of directors   [Aug-08-18 09:18AM  American City Business Journals]
▶ Oil States Board Names Robert L. Potter as its New Chairman   [Aug-07-18 05:00PM  GlobeNewswire]
▶ Oil States International, Inc. to Host Earnings Call   [Jul-30-18 09:00AM  ACCESSWIRE]
▶ Oil States Adds Darrell E. Hollek to its Board   [Jun-11-18 05:00PM  GlobeNewswire]
▶ Oil States Adds Joe Wright to its Board   [Jun-04-18 05:15PM  GlobeNewswire]
▶ Top 3 Equipment and Services ETFs   [09:55AM  Investopedia]
▶ Oil States International: 1Q Earnings Snapshot   [Apr-25-18 06:12PM  Associated Press]
▶ Edited Transcript of OIS presentation 6-Mar-17 9:35pm GMT   [Apr-10-18 01:24PM  Thomson Reuters StreetEvents]
▶ Lennar Is One of 6 Stocks Poised to Change Direction   [Apr-09-18 01:00PM  TheStreet.com]
▶ [$$] Argonaut Private Equity Sells Falcon Flowback Services to Oil States   [Feb-28-18 07:06PM  The Wall Street Journal]
▶ Oil States Acquires Falcon Flowback Services   [05:30PM  GlobeNewswire]
▶ Oil States Launches Secondary Common Stock Offering   [Feb-21-18 04:33PM  GlobeNewswire]
▶ Oil States International, Inc. to Host Earnings Call   [Feb-15-18 09:00AM  ACCESSWIRE]
▶ Oil States International posts 4Q loss   [Feb-14-18 06:09PM  Associated Press]
▶ How Did Schlumberger React to Crude Oil Prices Last Week?   [Jan-22-18 01:00PM  Market Realist]
▶ U.S. Tax Changes- Estimated Impact on Oil States Results   [Jan-18-18 05:00PM  GlobeNewswire]
▶ Top 3 Growth Stocks For The Month   [Jan-17-18 11:02AM  Simply Wall St.]
▶ Oil States International Earns RS Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Short Interest in Halliburton on January 4   [Jan-11-18 09:02AM  Market Realist]
▶ Halliburtons Next 7-Day Stock Price Forecast   [07:33AM  Market Realist]
▶ Schlumberger Reacts to Crude Oil Price Change   [Jan-09-18 10:33AM  Market Realist]
▶ Top 5 Oilfield Services Stocks for 4Q17 by EBITDA Growth   [Jan-08-18 07:38AM  Market Realist]
▶ Hows Halliburton Reacting to the Crude Oil Price Change?   [Jan-03-18 12:50PM  Market Realist]
▶ Hows Halliburton Reacting to the Crude Oil Price Change?   [Dec-18-17 11:35AM  Market Realist]
▶ Oil States to acquire downhole solutions co. in $525M deal   [Dec-13-17 01:10PM  American City Business Journals]
▶ Oil States to Acquire GEODynamics   [Dec-12-17 05:06PM  GlobeNewswire]
▶ Whats the Short Interest in Schlumberger on November 29?   [Dec-05-17 10:32AM  Market Realist]
▶ Hows Halliburton Reacting to the Crude Oil Price Change?   [Dec-04-17 01:50PM  Market Realist]
▶ Wall Street Analysts Recommendations for TechnipFMC   [Nov-14-17 10:31AM  Market Realist]
▶ How TechnipFMC Reacted to Crude Oil Prices   [09:01AM  Market Realist]

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