A Business at a Glance
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FORUM ENERGY TECHNOLOGIES, INC.
FET
$690M
Mkt Cap
$57.86
+0.54%
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a 5-year average return on invested capital (ROIC) of -5.9%. This is below average and may indicate limited pricing power.
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a market capitalization of $782M. It is classified as a small-cap stock.
FORUM ENERGY TECHNOLOGIES, INC. (FET) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 4.76%.
FORUM ENERGY TECHNOLOGIES, INC. (FET) operates in the Oil & Gas Field Machinery & Equipment industry, within the Industrials sector.
FORUM ENERGY TECHNOLOGIES, INC. (FET) reported annual revenue of $791 million in its most recent fiscal year, based on SEC EDGAR filings.
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a net profit margin of -1.2%. The company is currently unprofitable.
FORUM ENERGY TECHNOLOGIES, INC. (FET) generated $64 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Table of Contents PART I Forum Energy Technologies, Inc., a Delaware corporation (the “Company,” “FET,” “we,” “our” or “us”), is a global manufacturing company serving the oil, natural gas, defense and renewable energy industries. Our common shares are listed on the New York Stock Exchange (“NYSE”) and NYSE Texas under the symbol “FET.” Our principal executive offices are located at 10344 Sam Houston Park Drive, Houston, Texas 77064, our telephone number is (713) 351-7900, and our website is www.f-e-t.com. Our Annual Reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and all amendments thereto, are available free of charge in the “Investors” section of our website as soon as reasonably practicable after such reports are electronically filed with or furnished to the Securities and Exchange Commission (“SEC”). These reports are also available on the SEC’s website at www.sec.gov.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 807M | 791M | 816M | 739M | 700M | 541M |
| Net Income | -6.3M | -9.7M | -135M | -19M | 3.7M | -83M |
| EPS | $-0.48 | $-0.81 | $-11.00 | $-1.85 | $0.31 | $-7.33 |
| Free Cash Flow | 59M | 64M | 84M | 239K | -25M | -18M |
| ROIC | -2.7% | 3.8% | -25.8% | 3.9% | 1.9% | -13.1% |
| Gross Margin | 27.5% | 27.7% | 31.2% | 27.6% | 26.9% | 22.8% |
| Debt/Equity | 0.55 | 0.80 | 0.85 | 0.49 | 1.02 | 0.85 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 32M | 30M | -87M | 21M | 17M | -44M |
| Operating Margin | 4.0% | 3.8% | -10.6% | 2.8% | 2.5% | -8.2% |
| ROE | -2.2% | -3.2% | -36.9% | -5.2% | 1.2% | -22.5% |
| Shares Outstanding | 14M | 12M | 12M | 10M | 12M | 11M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.7B | 1.1B | 588M | 819M | 1.1B | 957M | 512M | 541M | 700M | 739M | 816M | 791M | 807M |
| Gross Margin | 32.2% | 24.5% | 17.0% | 23.1% | 24.1% | 25.6% | -2.2% | 22.8% | 26.9% | 27.6% | 31.2% | 27.7% | 27.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 313M | 265M | 227M | 254M | 287M | 252M | 198M | 169M | 179M | 180M | 219M | 200M | 201M |
| EBIT | 268M | -114M | -129M | -142M | -397M | -536M | -232M | -44M | 17M | 21M | -87M | 30M | 32M |
| Op. Margin | 15.4% | -10.6% | -21.9% | -17.3% | -37.3% | -56.1% | -45.2% | -8.2% | 2.5% | 2.8% | -10.6% | 3.8% | 4.0% |
| Net Income | 174M | -119M | -82M | -59M | -374M | -567M | -97M | -83M | 3.7M | -19M | -135M | -9.7M | -6.3M |
| Net Margin | 10.0% | -11.1% | -14.0% | -7.3% | -35.2% | -59.3% | -18.9% | -15.3% | 0.5% | -2.6% | -16.6% | -1.2% | -0.8% |
| Non-Recurring | 0 | 123M | 0 | 68M | 299M | 473M | 103M | 0 | 2.7M | 0 | 119M | 4.3M | 4.3M |
| Returns on Capital | |||||||||||||
| ROIC | 9.1% | -6.9% | -5.0% | -3.3% | -21.6% | -46.6% | -12.2% | -13.1% | 1.9% | 3.9% | -25.8% | 3.8% | -2.7% |
| ROE | 12.8% | -9.0% | -6.6% | -4.5% | -30.7% | -74.8% | -21.7% | -22.5% | 1.2% | -5.2% | -36.9% | -3.2% | -2.2% |
| ROA | 8.0% | -5.8% | -4.4% | -2.9% | -18.6% | -37.9% | -9.5% | -9.8% | 0.5% | -2.3% | -16.5% | -1.2% | -0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 270M | 156M | 65M | -40M | 2.4M | 104M | 3.9M | -16M | -17M | 8.2M | 92M | 70M | 63M |
| Free Cash Flow | 216M | 124M | 48M | -67M | -22M | 89M | 1.6M | -18M | -25M | 239K | 84M | 64M | 59M |
| Owner Earnings | 186M | 69M | -18M | -125M | -92M | 25M | -57M | -66M | -58M | -31M | 31M | 28M | 32M |
| CapEx | 54M | 32M | 17M | 27M | 24M | 15M | 2.2M | 2.4M | 7.5M | 7.9M | 8.1M | 6.0M | 4.2M |
| Maint. CapEx | 65M | 66M | 62M | 65M | 75M | 63M | 51M | 42M | 37M | 35M | 54M | 34M | 21M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 65M | 66M | 62M | 65M | 75M | 63M | 51M | 42M | 37M | 35M | 54M | 34M | 21M |
| CapEx/OCF | 19.9% | 20.7% | 26.0% | N/A | 998.9% | 14.5% | 57.8% | N/A | N/A | 97.1% | 8.8% | 8.5% | 6.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 97M | 6.4M | 623K | 4.7M | 2.8M | 1.1M | 195K | 1.4M | 3.8M | 6.0M | 0 | 35M | 37M |
| Buyback Yield | 4.8% | 0.6% | 0.0% | 0.3% | 0.6% | 0.6% | 0.3% | 1.6% | 1.0% | 2.6% | N/A | 7.9% | 4.8% |
| Stock-Based Comp | 19M | 22M | 21M | 20M | 20M | 16M | 9.8M | 7.6M | 4.2M | 4.6M | 7.1M | 9.0M | 9.7M |
| Debt Repayment | 98M | 120M | 0 | 0 | 212M | 257M | 169M | 13M | 544M | 452M | 624M | 615M | 615M |
| Balance Sheet | |||||||||||||
| Net Debt | 345M | 287M | 162M | 393M | 471M | 404M | 223M | 232M | 262M | 155M | 228M | 197M | 116M |
| Cash & Equiv. | 77M | 109M | 234M | 115M | 47M | 58M | 129M | 47M | 51M | 46M | 45M | 35M | 37M |
| Long-Term Debt | 420M | 396M | 397M | 507M | 518M | 399M | 293M | 232M | 239M | 130M | 187M | 135M | 152M |
| Debt/Equity | 0.30 | 0.32 | 0.32 | 0.36 | 0.50 | 0.95 | 0.86 | 0.85 | 1.02 | 0.49 | 0.85 | 0.80 | 0.55 |
| Interest Coverage | 9.0 | -3.8 | -4.7 | -5.3 | -191.7 | -6619.1 | -1494.3 | -404.5 | 225.0 | 115.1 | -322.6 | 125.1 | 24.6 |
| Equity | 1.4B | 1.3B | 1.2B | 1.4B | 1.0B | 486M | 406M | 329M | 307M | 413M | 320M | 291M | 281M |
| Total Assets | 2.2B | 1.9B | 1.8B | 2.2B | 1.8B | 1.2B | 890M | 791M | 835M | 821M | 816M | 752M | 763M |
| Total Liabilities | 818M | 629M | 599M | 786M | 800M | 674M | 484M | 462M | 528M | 408M | 496M | 461M | 482M |
| Intangibles | 272M | 247M | 216M | 443M | 359M | 272M | 240M | 217M | 191M | 168M | 109M | 94M | 88M |
| Retained Earnings | 700M | 580M | 498M | 439M | 64M | -503M | -602M | -684M | -681M | -699M | -835M | -844M | -840M |
| Working Capital | 613M | 566M | 608M | 574M | 529M | 469M | 365M | 271M | 303M | 325M | 294M | 242M | 256M |
| Current Assets | 895M | 718M | 750M | 790M | 766M | 666M | 490M | 447M | 513M | 530M | 496M | 449M | 464M |
| Current Liabilities | 282M | 152M | 142M | 216M | 237M | 197M | 125M | 176M | 210M | 204M | 202M | 207M | 209M |
| Per Share Data | |||||||||||||
| EPS | 18.30 | -13.30 | -9.00 | -6.00 | -34.40 | -1,030.10 | -173.70 | -7.33 | 0.31 | -1.85 | -11.00 | -0.81 | -0.48 |
| Owner EPS | 19.53 | 7.64 | -1.93 | -12.67 | -8.46 | 45.52 | -102.01 | -5.81 | -4.86 | -3.05 | 2.55 | 2.31 | 2.33 |
| Book Value | 146.45 | 140.07 | 135.61 | 142.32 | 94.73 | 882.92 | 728.29 | 29.17 | 25.64 | 40.44 | 26.00 | 24.41 | 20.78 |
| Cash Flow/Share | 28.33 | 17.37 | 7.11 | -4.04 | 0.22 | 189.19 | 6.96 | -1.40 | -1.42 | 0.80 | 7.49 | 5.90 | 1.12 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 9.5M | 9.0M | 9.1M | 9.9M | 10.9M | 0.6M | 0.6M | 11.3M | 12.0M | 10.2M | 12.3M | 11.9M | 13.5M |
| Valuation | |||||||||||||
| P/E Ratio | 11.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 49.0 | N/A | N/A | N/A | -119.3 |
| P/FCF | 18.8 | 18.1 | 85.0 | N/A | N/A | 0.2 | 4.0 | N/A | N/A | 964.8 | 2.2 | 6.8 | 13.3 |
| EV/EBIT | 8.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 29.5 | 13.0 | N/A | 16.8 | 27.8 |
| Price/Book | 1.5 | 0.9 | 1.6 | 1.1 | 0.4 | 0.4 | 0.2 | 0.3 | 1.2 | 0.6 | 0.6 | 1.5 | 2.8 |
| Price/Sales | 1.6 | 1.4 | 2.5 | 2.0 | 1.2 | 0.4 | 0.1 | 0.2 | 0.4 | 0.3 | 0.3 | 0.3 | 1.0 |
| FCF Yield | 10.6% | 11.0% | 2.4% | -4.4% | -4.7% | 50.5% | 2.5% | -19.9% | -6.6% | 0.1% | 45.6% | 14.7% | 7.5% |
| Market Cap | 2.0B | 1.1B | 2.0B | 1.5B | 462M | 176M | 66M | 91M | 373M | 231M | 184M | 438M | 782M |
| Avg. Price | 592.34 | 343.74 | 325.63 | 332.73 | 232.18 | 68.15 | 12.20 | 20.04 | 23.06 | 25.15 | 17.46 | 22.07 | 57.86 |
| Year-End Price | 426.80 | 249.40 | 447.00 | 303.00 | 85.00 | 32.00 | 11.79 | 16.16 | 30.36 | 22.60 | 14.97 | 36.75 | 57.86 |
FORUM ENERGY TECHNOLOGIES, INC. passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 10.1x vs a median of 4.0x. The company's 5-year average gross margin is 27.3%. Total shareholder yield (buybacks) is 4.8%. At current prices, the estimated annualized return to fair value is -11.5%.
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a debt-to-equity ratio of 0.80. This indicates moderate leverage.
FORUM ENERGY TECHNOLOGIES, INC. (FET) reported earnings per share (EPS) of $-0.81 in its most recent fiscal year.
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a return on equity (ROE) of -3.2%. A negative ROE may indicate losses or negative equity.
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a 5-year average gross margin of 27.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for FORUM ENERGY TECHNOLOGIES, INC. (FET), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FORUM ENERGY TECHNOLOGIES, INC. (FET) has a book value per share of $24.41, based on its most recent annual SEC filing.