Top 15 Oil & Gas Equipment & Services Stocks
Marvin's rules ranked 15 oil and gas equipment and services companies by Overall score within their industry. Flowco, Archrock and Innovex lead the list. Growth, margins and debt differ widely, so read each profile.
Oil and gas equipment and services companies supply the machinery, compression, tools, vessels and field work that energy producers rely on. They are not the producers themselves. Their results often depend on how much drilling and production activity their customers undertake.
This list shows the 15 companies in the industry that Marvin's rules ranked highest on Overall score as of 2026-10-23. The scores compare each company only with others in the same industry. They do not compare it with the whole market.
Keep in mind that the picks differ a lot. Some are growing fast, some are shrinking slightly, and a few have thin or negative cash flow. Some figures are also missing for certain companies, so each profile notes what is unavailable.
The list
How Marvin ranked these stocks
Marvin included companies above a minimum size of about three hundred million dollars and ranked them by Overall score, highest first, within the Oil & Gas Equipment & Services industry. Overall, Quality and Opportunity scores run up to one hundred and are relative to each company's own industry. A high score means a company compares well with its industry peers today, not that it is strong against every other kind of business.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Oil & Gas Equipment & Services industry, highest Overall score first.
The stocks, one by one
Flowco Holdings Inc. FLOC
Flowco Holdings has the top Overall score at 96. Revenue growth of 41.9% and a free cash flow margin of 25.4% point to quick expansion and strong cash generation. Caution: return on equity of 13.6% is modest, and debt-to-equity of 0.94 is worth watching.
Archrock, Inc. AROC
Archrock combines revenue growth of 28.7% with return on equity of 21.2%, suggesting healthy expansion and good returns on shareholder capital. Its free cash flow margin is 19.4%. Caution: debt-to-equity of 1.52 is on the high side, and operating margin is not available.
Innovex International, Inc. INVX
Innovex International grew revenue by 48.0% and carries very little debt, with debt-to-equity of 0.09. Its operating margin of 10.0% is moderate. Caution: return on equity of 5.8% is low, and free cash flow margin is not available.
Kodiak Gas Services, Inc. KGS
Kodiak Gas Services has a strong operating margin of 27.4% and revenue growth of 12.8%, suggesting a profitable, expanding business. Caution: free cash flow margin is only 0.4%, return on equity is 3.7%, and debt-to-equity is 1.30.
Slb N.V. SLB
Slb N.V. scores well on Quality (88), with a free cash flow margin of 13.2% and return on equity of 11.9%. Debt-to-equity of 0.43 is fairly low. Caution: revenue growth was -1.6%, a slight decline, and operating margin is not available.
Baker Hughes Company BKR
Baker Hughes shows return on equity of 15.6% and a free cash flow margin of 11.3%, which suggest solid profitability and cash generation. Debt-to-equity is 0.82. Caution: revenue growth was -0.3%, essentially flat to slightly down, and operating margin is not available.
Oceaneering International, Inc. OII
Oceaneering International posts a high return on equity of 29.9%, with an operating margin of 10.4% and debt-to-equity of 0.71. Revenue growth of 4.6% is modest. Caution: its Quality score of 66 is lower than most companies above it.
Bristow Group Inc. VTOL
Bristow Group has an operating margin of 10.0% and revenue growth of 5.3%, suggesting steady but unspectacular results. Debt-to-equity is 0.89. Caution: its free cash flow margin was -2.2%, meaning it spent more cash than it generated.
Flotek Industries, Inc. FTK
Flotek Industries grew revenue by 26.9% and earned return on equity of 29.4%, with low debt-to-equity of 0.36. Caution: its Quality score of 57 is middling, its operating margin of 12.8% is modest, and free cash flow margin is not available.
Halliburton Company HAL
Halliburton has an operating margin of 11.4%, return on equity of 14.6% and a free cash flow margin of 7.7%, pointing to a steady, profitable business. Caution: revenue growth was -3.3%, a decline, and gross margin is not available.
Tidewater Inc. TDW
Tidewater has a strong free cash flow margin of 20.1% and an operating margin of 18.4%, with return on equity of 17.7% and debt-to-equity of 0.47. Caution: revenue growth was only 0.5%, so sales were close to flat.
EagleRock Land LLC EROK
EagleRock Land LLC has an Overall score of 71, a Quality score of 54 and an Opportunity score of 85. Caution: no growth, margin, return or debt figures are available, so these scores are the only information we can cite here.
RPC, Inc. RES
RPC, Inc. grew revenue by 15.0%, which is decent. Caution: profitability is thin, with an operating margin of 1.9%, a free cash flow margin of 2.2% and return on equity of 2.1%. Debt-to-equity is not available.
Solaris Energy Infrastructure, Inc. SEI
Solaris Energy Infrastructure grew revenue by 98.7% and has an operating margin of 24.3%. Caution: free cash flow margin was -95.5%, a heavy cash outflow, debt-to-equity is 1.81, and its Quality score is only 37.
Cactus, Inc. WHD
Cactus, Inc. has very low debt, with debt-to-equity of 0.05, and an operating margin of 18.6%. Return on equity is 13.2%. Caution: revenue growth was -4.5%, a decline, its Opportunity score is just 25, and free cash flow margin is not available.
Common questions
What do oil and gas equipment and services companies do?
They provide the equipment, technology and field services that energy producers need, such as drilling tools, gas compression, offshore vessels and well services. They usually earn money from producers' spending rather than from selling oil and gas directly.
Does a higher Marvin score mean a better company?
Not exactly. Marvin's scores show how a company compares with others in its own industry today. They are a research starting point, not advice, and they do not predict future results.
Why do some companies show missing figures?
A figure may be missing when the data is unavailable or does not apply to how the company reports its results. Each profile notes missing figures, so check them before comparing companies.
Keep reading
- Top 20 Oil and Gas Stocks Ranked by Marvin Scores
- Top 15 Energy Stocks With the Strongest Businesses
- Top 15 Energy Stocks by Marvin's Opportunity Score
- Top 15 Energy Stocks Right Now, Ranked by Marvin Scores
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.