FET

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Forum Energy Technologies, Inc.

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Key Metrics

Previous Close: $81.42
52-Week Range: $23.61 – $87.42
Market Cap: $883.96M
P/E (TTM): —
EPS (TTM): -0.07
Dividend Yield: —

Advanced Metrics

Price/Book: 3.05
PEG Ratio: 3.19
Return on Equity: -0.51%
Return on Assets: 2.69%
Gross Margin: 28.04%
Operating Margin: 9.32%
Profit Margin: -0.19%
Current Ratio: 2.19
Debt/Equity: 0.79
Total Debt: $227.51M
Free Cash Flow: $63.76M
Revenue Growth: 13.20%
Earnings Growth: 72.10%
Enterprise Value: $1.08B

FET Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$699.91M	$738.86M	$816.42M	$791.47M
Cost of Revenue	$511.39M	$534.71M	$561.39M	$572.44M
Gross Profit	$188.53M	$204.15M	$255.03M	$219.04M
Selling, General & Admin	$179.47M	$180.39M	$219.32M	$199.91M
Operating Expenses	$179.47M	$180.39M	$219.32M	$199.91M
Operating Income	$9.05M	$23.76M	$35.71M	$19.13M
EBITDA	$78.85M	$45.21M	-$43.22M	$68.65M
Pretax Income	$10.35M	-$7.81M	-$128.43M	$16.59M
Income Tax	$6.64M	$11.06M	$6.90M	$26.25M
Net Income	$3.71M	-$18.88M	-$135.33M	-$9.66M
Diluted EPS	0.62	-1.85	-11.00	-0.81
Diluted Shares	6.00M	10.20M	12.30M	11.88M

FET Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$51.03M	$46.16M	$44.66M	$34.66M
Receivables	$170.05M	$161.91M	$166.31M	$151.79M
Inventory	$269.83M	$299.64M	$265.49M	$239.42M
Current Assets	$512.87M	$529.60M	$495.64M	$448.88M
Total Assets	$834.76M	$821.06M	$815.95M	$752.46M
Current Liabilities	$210.29M	$204.34M	$201.86M	$206.53M
Long-Term Debt	$239.13M	$129.57M	$186.53M	$134.52M
Total Debt	$304.54M	$192.20M	$261.54M	$219.88M
Total Liabilities	$527.72M	$408.43M	$496.05M	$461.31M
Retained Earnings	-$680.60M	-$699.47M	-$834.80M	-$844.46M
Shareholders' Equity	$307.04M	$412.63M	$319.90M	$291.14M
Working Capital	$302.57M	$325.26M	$293.78M	$242.35M
Net Debt	$188.88M	$84.59M	$143.73M	$101.27M

FET Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$17.05M	$8.18M	$92.19M	$70.40M
Capital Expenditure	-$7.49M	-$7.94M	-$8.14M	-$6.01M
Free Cash Flow	-$24.55M	$239.00K	$84.05M	$64.39M
Depreciation & Amortisation	$36.98M	$34.73M	$53.72M	$33.76M
Stock-Based Compensation	$4.21M	$4.57M	$7.14M	$9.04M
Investing Cash Flow	$27.14M	-$6.57M	-$137.53M	$9.57M
Financing Cash Flow	-$5.08M	-$7.58M	$45.24M	-$91.57M
Share Repurchases	-$3.83M	-$6.00M	$0.00	-$34.61M
Net Change in Cash	$5.01M	-$5.97M	-$93.00K	-$11.60M

FET Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$199.76M	$196.23M	$202.20M	$208.70M	—
Cost of Revenue	$140.41M	$155.99M	$141.12M	$147.71M	—
Gross Profit	$59.36M	$40.24M	$61.08M	$60.99M	—
Selling, General & Admin	$51.19M	$50.45M	$48.89M	$50.01M	—
Operating Expenses	$51.19M	$50.45M	$48.89M	$50.01M	—
Operating Income	$8.17M	-$10.21M	$12.19M	$10.98M	—
EBITDA	$27.70M	$1.75M	$20.36M	$19.33M	—
Pretax Income	$13.92M	-$10.48M	$8.26M	$7.39M	—
Income Tax	$6.22M	$10.07M	$6.19M	$2.90M	—
Net Income	$7.70M	-$20.55M	$2.07M	$4.49M	—
Diluted EPS	0.61	-1.76	0.17	0.39	1.05
Diluted Shares	12.60M	11.68M	12.09M	11.64M	11.77M

FET Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$31.14M	$38.97M	$31.69M	$34.66M	$37.49M
Receivables	$165.57M	$169.68M	$163.35M	$151.79M	$168.51M
Inventory	$263.60M	$260.03M	$248.25M	$239.42M	$236.41M
Current Assets	$478.57M	$487.73M	$459.28M	$448.88M	$464.32M
Total Assets	$790.11M	$810.13M	$770.09M	$752.46M	$763.07M
Current Liabilities	$194.69M	$202.26M	$209.63M	$206.53M	$208.61M
Long-Term Debt	$169.55M	$157.66M	$138.55M	$134.52M	$152.34M
Total Debt	$242.11M	$239.54M	$225.17M	$219.88M	$240.20M
Total Liabilities	$470.07M	$475.91M	$472.78M	$461.31M	$482.38M
Retained Earnings	-$833.67M	-$825.98M	-$846.53M	-$844.46M	-$839.97M
Shareholders' Equity	$320.04M	$334.22M	$297.31M	$291.14M	$280.68M
Working Capital	$283.88M	$285.47M	$249.66M	$242.35M	$255.70M
Net Debt	$140.24M	$120.36M	$108.29M	$101.27M	$116.23M

FET Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$9.33M	$15.77M	$22.87M	$22.44M	$1.63M
Capital Expenditure	-$2.11M	-$951.00K	-$1.39M	-$1.56M	-$256.00K
Free Cash Flow	$7.22M	$14.82M	$21.47M	$20.88M	$1.37M
Depreciation & Amortisation	$8.97M	$9.08M	$7.86M	$7.84M	$7.80M
Stock-Based Compensation	$1.82M	$1.77M	$2.78M	$2.67M	$2.52M
Investing Cash Flow	-$2.10M	$7.12M	$5.26M	-$718.00K	-$253.00K
Financing Cash Flow	-$21.01M	-$16.28M	-$35.08M	-$19.19M	$1.85M
Share Repurchases	-$2.00M	-$4.30M	-$14.82M	-$13.49M	-$4.57M
Net Change in Cash	-$13.78M	$6.61M	-$6.95M	$2.53M	$3.23M

Market Snapshot

About

Forum Energy Technologies, Inc. provides products and services to the oil and gas industry, specializing in drilling, downhole, subsea, production, and infrastructure equipment. The company operates through three segments: Drilling & Downhole, Completions, and Production & Infrastructure. Forum manufactures and distributes consumable products, capital equipment, and technical solutions used in onshore and offshore energy operations. Its product lines include drill pipe, casing, tubular handling equipment, pressure control systems, and production valves. Headquartered in Houston, Texas, Forum serves exploration and production companies, drilling contractors, and oilfield service providers worldwide. The company's performance is closely tied to activity levels in oil and gas exploration and production markets.