A Business at a Glance
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TechnipFMC plc
FTI
$32.2B
Mkt Cap
$76.75
+0.96%
TechnipFMC plc (FTI) has a current P/E ratio of 33.4, compared to its historical median P/E of 15.1. The stock is currently considered Expensive based on its historical valuation range.
TechnipFMC plc (FTI) has a 5-year average return on invested capital (ROIC) of 16.0%. This indicates strong capital allocation and a potential competitive advantage.
TechnipFMC plc (FTI) has a market capitalization of $30.6B. It is classified as a large-cap stock.
Yes, TechnipFMC plc (FTI) pays a dividend with a trailing twelve-month yield of 0.27%. The company also returns capital through share buybacks, with a buyback yield of 3.05%.
Based on historical P/E analysis, TechnipFMC plc (FTI) appears expensive. The current P/E of 33.4 is 121% above its historical median of 15.1. The estimated fair value CAGR (P/E method) is 13.6%.
TechnipFMC plc (FTI) operates in the Oil & Gas Field Machinery & Equipment industry, within the Industrials sector.
TechnipFMC plc (FTI) reported annual revenue of $9.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
TechnipFMC is a leading technology provider to the traditional and new energy industries, organized into two business segments—Subsea and Surface Technologies—with approximately 22,000 employees. The Subsea segment delivers integrated design, engineering, procurement, manufacturing, fabrication, installation, and life-of-field services for subsea systems, infrastructure, and pipeline systems used in oil and natural gas production and transportation, leveraging its proprietary integrated engineering, procurement, construction, and installation model (iEPCI™) that combines subsea production systems (SPS) and subsea umbilicals, risers, and flowlines (SURF) work scopes to improve project economics and accelerate time to first oil. The company's business model emphasizes early client engagement through integrated front-end engineering and design (iFEED™) studies, which often convert directly into iEPCI™ contracts, and extends into aftermarket and life-of-field services (iLOF™) including production optimization, asset life extension, and condition-based maintenance. TechnipFMC's competitive differentiation stems from being the only subsea provider integrating SPS and SURF work scopes, its Subsea 2.0® configure-to-order product suite, a vast network of customer partnerships, and a growing services business leveraged to serve an expanding installed base. The company operates globally with a capital-light approach, targeting capital expenditures at approximately 3% of revenue, and generates strong free cash flow conversion from EBITDA while maintaining a disciplined asset-light strategy that enables growth without proportional capital investment.
【Strong backlog-driven growth】 Management expects continued operational momentum and commercial strength to drive revenue and EBITDA growth in 2027, with Subsea inbound orders anticipated to accelerate further as the Subsea Opportunities List expands at an unprecedented rate and customers increasingly adopt a portfolio approach to project development. The company is experiencing a structural shift toward offshore capital allocation, driven by superior reservoir quality and attractive project economics, which is expected to sustain activity levels through the end of the decade and support margin expansion as higher-quality iEPCI and Subsea 2.0 projects replace legacy backlog. Management is confident in achieving continued EBITDA margin expansion in both segments through industrialization actions, cycle time reduction, and the increasing contribution of higher-margin Subsea 2.0 and direct award projects, while maintaining disciplined capital allocation and returning the majority of free cash flow to shareholders.
| Metric | Target | Period |
|---|---|---|
| Total company Adjusted EBITDA | exceed $2.1 billion | FY2026 |
| Subsea revenue | $9.4 billion | FY2026 |
| Subsea Adjusted EBITDA margin | 21.5% at the midpoint | FY2026 |
| Surface Technologies revenue | just over $1.2 billion | FY2026 |
| Surface Technologies Adjusted EBITDA margin | 17.25% at the midpoint | FY2026 |
| Capital expenditures | $340 million | FY2026 |
| Free cash flow | $1.3 billion-$1.45 billion | FY2026 |
| Subsea inbound orders | $10 billion | FY2026 |
Total company Adjusted EBITDA (FY2026): “we remain very confident in our ability to exceed $2.1 billion of total company EBITDA in 2026, with each segment contributing to EBITDA in line with their full year guidance”
Subsea revenue (FY2026): “We now expect revenue of $9.4 billion, with Adjusted EBITDA margin of 21.5% at the midpoint of the full year range.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 10.2B | 9.9B | 9.1B | 7.8B | 6.7B | 6.4B |
| Net Income | 1.1B | 964M | 843M | 56M | -107M | 13M |
| EPS | $2.68 | $2.30 | $1.91 | $0.12 | $-0.24 | $0.03 |
| Free Cash Flow | 1.3B | 1.4B | 679M | 468M | 194M | 590M |
| ROIC | 42.5% | 31.1% | 30.1% | 10.4% | 6.0% | 2.2% |
| Gross Margin | - | 26.5% | 19.0% | 16.4% | 13.5% | 20.3% |
| Debt/Equity | 0.13 | 0.52 | 0.58 | 0.60 | 0.69 | 0.53 |
| Dividends/Share | $0.20 | $0.20 | $0.20 | $0.09 | $0.00 | $0.00 |
| Operating Income | 1.5B | 1.4B | 1.2B | 658M | 376M | 183M |
| Operating Margin | 15.2% | 14.5% | 12.7% | 8.4% | 5.6% | 2.9% |
| ROE | 32.2% | 29.9% | 27.1% | 1.8% | -3.2% | 0.4% |
| Shares Outstanding | 399M | 419M | 441M | 468M | 447M | 443M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 11.3B | 9.2B | 15.1B | 12.6B | 7.0B | 6.5B | 6.4B | 6.7B | 7.8B | 9.1B | 9.9B | 10.2B |
| Gross Margin | 6.4% | 5.0% | 22.0% | 11.5% | 99.2% | 98.8% | 20.3% | 13.5% | 16.4% | 19.0% | 26.5% | N/A |
| R&D | 96M | 105M | 213M | 189M | 150M | 75M | 78M | 67M | 69M | 73M | 83M | 82M |
| SG&A | 690M | 573M | 1.1B | 1.1B | 796M | 724M | 645M | 617M | 676M | 667M | 705M | 737M |
| EBIT | 554M | 766M | 1.4B | -533M | -2.1B | -3.2B | 183M | 376M | 658M | 1.2B | 1.4B | 1.5B |
| Op. Margin | 4.9% | 8.3% | 9.0% | -4.2% | -30.3% | -49.7% | 2.9% | 5.6% | 8.4% | 12.7% | 14.5% | 15.2% |
| Net Income | 14M | 393M | 113M | -1.9B | -2.4B | -3.3B | 13M | -107M | 56M | 843M | 964M | 1.1B |
| Net Margin | 0.1% | 4.3% | 0.8% | -15.3% | -34.8% | -50.3% | 0.2% | -1.6% | 0.7% | 9.3% | 9.7% | 10.6% |
| Non-Recurring | 393M | 305M | 157M | 1.4B | 2.0B | 6.5B | 67M | 20M | 22M | 97M | 73M | 72M |
| Returns on Capital | ||||||||||||
| ROIC | N/A | 20.4% | 13.5% | -5.3% | -18.5% | -35.3% | 2.2% | 6.0% | 10.4% | 30.1% | 31.1% | 42.5% |
| ROE | N/A | 15.6% | 1.2% | -16.2% | -26.8% | -55.7% | 0.4% | -3.2% | 1.8% | 27.1% | 29.9% | 32.2% |
| ROA | N/A | 4.2% | 0.5% | -7.2% | -10.0% | -15.2% | 0.1% | -1.1% | 0.6% | 8.6% | 9.6% | 10.7% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 700M | 494M | 211M | -185M | 849M | 657M | 781M | 352M | 693M | 961M | 1.8B | 1.7B |
| Free Cash Flow | 375M | 181M | -45M | -554M | 436M | 401M | 590M | 194M | 468M | 679M | 1.4B | 1.3B |
| Owner Earnings | 304M | 166M | -423M | -758M | 332M | 208M | 362M | -59M | 284M | 492M | 1.3B | 1.1B |
| CapEx | 326M | 313M | 256M | 368M | 413M | 256M | 192M | 158M | 225M | 282M | 317M | 311M |
| Maint. CapEx | 339M | 301M | 615M | 550M | 468M | 412M | 385M | 377M | 378M | 393M | 442M | 443M |
| Growth CapEx | 0 | 12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 339M | 301M | 615M | 550M | 468M | 412M | 385M | 377M | 378M | 393M | 442M | 443M |
| CapEx/OCF | N/A | 63.4% | 121.4% | N/A | 48.6% | 39.0% | 24.5% | 44.8% | 32.5% | 29.3% | 18.0% | 18.8% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 99M | 112M | 61M | 238M | 233M | 59M | 0 | 0 | 44M | 86M | 82M | 81M |
| Dividend Yield | N/A | 4.6% | 0.6% | 2.5% | 3.2% | 1.9% | N/A | N/A | 0.6% | 0.8% | 0.6% | 0.3% |
| Share Buybacks | 0 | 187M | 59M | 443M | 93M | 0 | 0 | 100M | 205M | 400M | 918M | 933M |
| Buyback Yield | 0.0% | 1.3% | 0.4% | 5.2% | 1.4% | N/A | N/A | 1.9% | 2.2% | 3.1% | 4.9% | 3.0% |
| Stock-Based Comp | 57M | 27M | 19M | 22M | 49M | 36M | 34M | 34M | 31M | 76M | 69M | 64M |
| Debt Repayment | 219M | 891M | 888M | 0 | 0 | 424M | 1.5B | 452M | 0 | 0 | 503M | 503M |
| Balance Sheet | ||||||||||||
| Net Debt | -3.1B | -3.7B | -2.7B | -852M | 3.9B | 2.7B | 467M | 1.2B | 918M | 641M | 722M | -540M |
| Cash & Equiv. | 3.2B | 6.3B | 6.7B | 5.5B | 1.6B | 1.3B | 1.3B | 1.1B | 952M | 1.2B | 1.0B | 965M |
| Long-Term Debt | 32M | 1.9B | 3.8B | 4.1B | 4.0B | 2.8B | 1.7B | 999M | 914M | 607M | 396M | 384M |
| Debt/Equity | N/A | 0.50 | 0.31 | 0.45 | 0.72 | 0.95 | 0.53 | 0.69 | 0.60 | 0.58 | 0.52 | 0.13 |
| Interest Coverage | 3.7 | 6.7 | 3.0 | -1.1 | -15.6 | -24.2 | 1.2 | 2.7 | 5.4 | 11.9 | 17.6 | 17.6 |
| Equity | N/A | 5.1B | 13.4B | 10.4B | 7.7B | 4.2B | 3.4B | 3.2B | 3.1B | 3.1B | 3.4B | 3.4B |
| Total Assets | N/A | 18.7B | 28.3B | 24.8B | 23.5B | 19.7B | 10.0B | 9.4B | 9.7B | 9.9B | 10.1B | 10.1B |
| Total Liabilities | N/A | 13.6B | 14.9B | 14.4B | 15.8B | 15.4B | 6.6B | 6.2B | 6.5B | 6.7B | 6.7B | 6.7B |
| Intangibles | N/A | 174M | 1.3B | 1.2B | 1.1B | 851M | 814M | 716M | 602M | 508M | 426M | 403M |
| Retained Earnings | 0 | 3.4B | 3.4B | 1.1B | -1.6B | -4.9B | -4.9B | -5.0B | -5.0B | -4.3B | -3.8B | -3.7B |
| Working Capital | N/A | 48M | 3.1B | 2.6B | 1.7B | 1.0B | 1.5B | 814M | 727M | 603M | 631M | 625M |
| Current Assets | 74K | 10.9B | 13.0B | 11.8B | 11.9B | 11.4B | 5.3B | 5.0B | 5.2B | 5.5B | 5.5B | 5.5B |
| Current Liabilities | 0 | 10.9B | 9.8B | 9.1B | 10.1B | 10.4B | 3.9B | 4.2B | 4.5B | 4.9B | 4.9B | 4.9B |
| Per Share Data | ||||||||||||
| EPS | 14,400,000.00 | 3.16 | 0.24 | -4.20 | -5.39 | -7.33 | 0.03 | -0.24 | 0.12 | 1.91 | 2.30 | 2.68 |
| Owner EPS | 304,400,000.00 | 1.33 | -0.90 | -1.66 | 0.74 | 0.46 | 0.82 | -0.13 | 0.61 | 1.12 | 2.99 | 2.88 |
| Book Value | N/A | 40.62 | 28.36 | 22.64 | 17.09 | 9.26 | 7.68 | 7.25 | 6.70 | 7.01 | 8.03 | 8.43 |
| Cash Flow/Share | 700,300,000.00 | 3.97 | 0.45 | -0.41 | 1.89 | 1.46 | 1.76 | 0.79 | 1.48 | 2.18 | 4.21 | 3.83 |
| Dividends/Share | 98,700,000.00 | 0.90 | 0.13 | 0.52 | 0.52 | 0.13 | 0.00 | 0.00 | 0.09 | 0.20 | 0.20 | 0.20 |
| Shares Out. | 0.0M | 124.5M | 472.1M | 457.5M | 448.1M | 448.5M | 443.3M | 446.7M | 468.3M | 441.3M | 419.1M | 398.7M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | 10.2 | 120.6 | N/A | N/A | N/A | 199.2 | N/A | 166.5 | 15.1 | 19.4 | 28.6 |
| P/FCF | N/A | 16.5 | N/A | N/A | 15.4 | 7.7 | 4.5 | 26.8 | 20.0 | 18.8 | 12.9 | 22.8 |
| EV/EBIT | N/A | 8.2 | N/A | N/A | N/A | N/A | 48.9 | 35.3 | N/A | N/A | N/A | 19.5 |
| Price/Book | N/A | 3.0 | 1.0 | 0.8 | 0.9 | 0.7 | 0.8 | 1.6 | 3.0 | 4.1 | 5.6 | 9.1 |
| Price/Sales | N/A | 1.3 | 0.9 | 1.0 | 1.0 | 0.5 | 0.5 | 0.5 | 1.0 | 1.2 | 1.5 | 3.0 |
| FCF Yield | N/A | 1.2% | -0.3% | -6.5% | 6.5% | 13.0% | 22.2% | 3.7% | 5.0% | 5.3% | 7.7% | 4.4% |
| Market Cap | 0 | 14.9B | 13.7B | 8.5B | 6.7B | 3.1B | 2.6B | 5.2B | 9.4B | 12.7B | 18.7B | 30.6B |
| Avg. Price | 0.00 | 19.43 | 20.23 | 20.53 | 16.27 | 6.93 | 7.53 | 8.20 | 16.42 | 25.20 | 34.60 | 76.75 |
| Year-End Price | 0.00 | 24.02 | 21.54 | 13.74 | 14.98 | 6.87 | 5.98 | 11.66 | 19.98 | 28.87 | 44.65 | 76.75 |
TechnipFMC plc passes 4 of 9 quality checks, suggesting mixed fundamentals.
TechnipFMC plc trades at 33.4x trailing earnings, compared to its 15-year median P/E of 15.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 21.2x vs a median of 16.0x. The company's 5-year average ROIC is 16.0% with a gross margin of 19.1%. Total shareholder yield (dividends + buybacks) is 3.3%. At current prices, the estimated annualized return to fair value is +18.8%.
TechnipFMC plc (FTI) has a net profit margin of 9.7%. This is a modest margin.
TechnipFMC plc (FTI) generated $1.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
TechnipFMC plc (FTI) has a debt-to-equity ratio of 0.52. This indicates moderate leverage.
TechnipFMC plc (FTI) reported earnings per share (EPS) of $2.30 in its most recent fiscal year.
TechnipFMC plc (FTI) has a return on equity (ROE) of 29.9%. This indicates the company generates strong returns for shareholders.
TechnipFMC plc (FTI) has a 5-year average gross margin of 19.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 11 years of financial data for TechnipFMC plc (FTI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TechnipFMC plc (FTI) has a book value per share of $8.03, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued operational momentum and commercial strength to drive revenue and EBITDA growth in 2027, with Subsea inbound orders anticipated to accelerate further as the Subsea Opportunities List expands at an unprecedented rate and customers increasingly adopt a portfolio approach to project development. The company is experiencing a structural shift toward offshore capital allocation, driven by superior reservoir quality and attractive project economics, which is expected to sustain activity levels through the end of the decade and support margin expansion as higher-quality iEPCI and Subsea 2.0 projects replace legacy backlog. Management is confident in achieving continued EBITDA margin expansion in both segments through industrialization actions, cycle time reduction, and the increasing contribution of higher-margin Subsea 2.0 and direct award projects, while maintaining disciplined capital allocation and returning the majority of free cash flow to shareholders.
Based on recent SEC filings and earnings calls, TechnipFMC plc (FTI) has provided the following forward guidance: Total company Adjusted EBITDA: exceed $2.1 billion (FY2026); Subsea revenue: $9.4 billion (FY2026); Subsea Adjusted EBITDA margin: 21.5% at the midpoint (FY2026); Surface Technologies revenue: just over $1.2 billion (FY2026); Surface Technologies Adjusted EBITDA margin: 17.25% at the midpoint (FY2026), plus 3 additional metrics.
Subsea Adjusted EBITDA margin (FY2026): “We now expect revenue of $9.4 billion, with Adjusted EBITDA margin of 21.5% at the midpoint of the full year range.”
Surface Technologies revenue (FY2026): “we are guiding to full-year revenue of just over $1.2 billion, with adjusted EBITDA margin improving to 17.25% at the midpoint of the guidance range”
Surface Technologies Adjusted EBITDA margin (FY2026): “we are guiding to full-year revenue of just over $1.2 billion, with adjusted EBITDA margin improving to 17.25% at the midpoint of the guidance range”
Capital expenditures (FY2026): “We anticipate capital expenditures to approximate $340 million for the full year, representing just over 3% of revenue.”
Free cash flow (FY2026): “we expect full year free cash flow to be in a range of $1.3 billion-$1.45 billion”
Subsea inbound orders (FY2026): “we're also showing a Subsea opportunity list that is really expanding at a rate that we have not seen before. If you look at the number of awards, the number of projects that were awarded in this quarter, i.e., they came out of the Subsea opportunity list. And I wanna be very, very clear that the Subsea opportunity list is both growing and accelerating, and we fully expect that this will be reflected in inbound order growth in 2027 and beyond.”