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Forum Energy Technologies, Inc.

FET Energy Oil & Gas Equipment & Services

Forum Energy Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $791.5 million, down 3.06% from fiscal 2024. In the quarter to June 2026, revenue grew 13.2%, EPS grew 77.4%, free cash flow fell 35.1% and total debt fell 9.80%, each against the same quarter a year earlier.

84.61 0.24 +0.28%
Market cap
$968.0M
P/E
0.0×
Fwd P/E
27.5×
Dividend yield
—
F-score
6/9
Altman Z
0.57
Beneish M
−2.90
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 2.98
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 1 — 1 — — 5 — —
Insider Ownership 7.97%

Capital & Financial Ratios $m

Market Cap 967.95
Revenue 833.35
Net Income (1.58)
Free Cash Flow 54.33
Net Debt 109.99
Current Ratio 2.19 (at or above 1.5: strong)
Debt/Equity 0.50 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E 27.50
P/S ratio 1.15
P/B ratio 3.30
Past 5Y EPS Growth —
This Y EPS Growth 536.51% (at or above 15%: strong)
Next Y EPS Growth 23.69% (at or above 15%: strong)
Next Y revenue growth 12.04% (at or above 10%: strong)
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 0.6×; over the ten years it ranged from 0.4× in 2024 to 3.6× in 2017.
P/S against its own 10 years 76.40%
10-year low 10-year high
P/B against its own 10 years 99.89%
10-year low 10-year high
EV/Sales against its own 10 years 74.78%
10-year low 10-year high
EV/FCF against its own 10 years 63.36%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 46 45 35 34
Receivables 147 154 142 174
Inventory 300 265 239 233
Other 15 12 9 16
530 496 449 484
2023 2024 2025 Q'26
Payables 126 110 95 119
ST’ Debt 1 2 1 1
Other 4 5 17 18
204 202 207 221

Compound Annual Growth %

10y 5y 3y
Sales (3.00%) 9.08% 4.18%
Cash Flow (7.64%) 78.52% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (13.61%) (6.45%) (1.76%)

Revenue $m

Mar Jun Sep Dec Year
’26 209 226 — — —
’25 193 200 196 202 791
’24 202 205 208 201 816
’23 189 185 179 185 739
’22 155 172 182 191 700
’21 115 137 141 148 541
’20 183 113 104 113 512
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 12 — — —
’25 9 16 23 22 70
’24 5 23 26 39 92
’23 (23) (6) 26 11 8
’22 (25) (26) 18 15 (17)
’21 (1) 4 (10) (8) (16)
’20 2 (4) 4 2 4
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1 10 — — —
’25 7 15 22 22 65
’24 2 21 24 37 85
’23 (24) (7) 24 9 2
’22 (26) (26) 17 13 (22)
’21 0 4 (6) (17) (19)
’20 1 (3) 5 4 7
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.39 1.05 — — —
’25 0.09 0.61 (1.76) 0.17 (0.81)
’24 (0.85) (0.54) (1.20) (8.39) (11.00)
’23 (0.34) (0.64) 0.77 (1.64) (1.85)
’22 (1.62) 0.88 1.82 (2.22) 0.62
’21 (5.28) (3.87) (2.05) (3.46) (14.65)
’20 (6.60) (1.00) (3.80) (5.85) (17.37)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 169.40 201.00 70.20 17.60 3.00 12.09 16.41 19.31 12.83 12.78

Analyst estimates 2026–2028

Powerpack
High 491.00 525.00 359.00 140.00 40.20 28.50 32.00 33.84 23.21 38.45
People
People Employees 2,050 2,600 2,500 2,300 1,400 1,400 1,500 1,600 1,800 1,700
Revenue/emp, $m 0.29 0.31 0.43 0.42 0.37 0.39 0.47 0.46 0.45 0.47
Income, $m
Income, $m Revenue 588 819 1,064 957 512 541 700 739 816 791
Gross margin, % 16.97 23.06 24.09 25.60 (2.15) 22.80 26.94 27.63 31.24 27.67
EBT (138) (55) (390) (569) (110) (82) 10 (8) (128) 17
EBT margin, % (23.48) (6.75) (36.62) (59.47) (21.42) (15.16) 1.48 (1.06) (15.73) 2.10
Net income (82) (59) (374) (567) (97) (83) 4 (19) (135) (10)
Depreciation 62 134 438 63 51 42 37 35 54 34
Per share, $
Per share, $ Revenue 128.83 165.90 195.68 173.76 91.89 95.88 121.79 72.35 66.38 66.61
Earnings (18.00) (11.60) (68.80) (103.00) (17.37) (14.65) 0.65 (1.85) (11.00) (0.81)
Cash flow 14.19 (8.11) 0.44 18.92 0.70 (2.80) (2.97) 0.80 7.50 5.92
Capex (3.69) (5.41) (4.42) (2.66) 0.55 (0.65) (0.78) (0.64) (0.61) (0.42)
Free cash flow 10.50 (13.53) (3.98) 16.26 1.24 (3.45) (3.75) 0.16 6.89 5.50
Book value 270.92 285.54 189.41 88.29 72.84 58.32 53.43 40.41 26.01 24.50
Shares, m 5 5 5 6 6 6 6 10 12 12
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 43.75 0.00 0.00 0.00
P/S 3.52 1.98 0.42 0.19 0.13 0.17 0.23 0.31 0.23 0.55
P/B 1.67 1.15 0.44 0.38 0.16 0.28 0.52 0.56 0.60 1.51
EV/Sales 3.79 2.46 0.87 0.55 0.45 0.51 0.50 0.43 0.41 0.68
EV/FCF 46.52 (30.21) (42.55) 5.88 33.55 (14.23) (16.24) 196.20 3.94 8.26
Cash, $m
Cash, $m Operating cash flow 65 (40) 2 104 4 (16) (17) 8 92 70
Capex (17) (27) (24) (15) 3 (4) (4) (7) (7) (5)
Free cash flow 48 (67) (22) 90 7 (19) (22) 2 85 65
Balance, $m
Balance, $m Working capital 608 574 529 469 365 271 303 325 294 242
Total debt 397 508 519 400 295 233 240 131 188 136
Net debt 162 393 471 342 166 186 189 85 144 101
Shareholders’ equity 1,236 1,409 1,030 486 406 329 307 413 320 291
Returns, %
Returns, % ROA (4.41) (2.95) (18.59) (37.93) (9.45) (9.83) 0.46 (2.28) (16.53) (1.23)
ROIC (5.76) (4.91) (16.52) (40.48) (25.29) (5.39) 2.18 2.60 (11.70) 4.80
ROE (6.58) (4.49) (30.67) (74.80) (21.72) (22.48) 1.17 (5.25) (36.95) (3.16)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Forum Energy Technologies, Inc. vs peers in Oil & Gas Equipment & Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FLOC Flowco Holdings Inc. $1.7B 12.1× 16.2× +22.07% (above 0%: growing) +38.10% (above 0%: growing) +7.07% (above 0%: growing) 53.60% 17.48% Compare
HOS Hornbeck Offshore Services Inc $1.7B 27.7× 30.5× +20.79% (above 0%: growing) n/m +320.12% (above 0%: growing) 18.49% 8.79% Compare
AESI Atlas Energy Solutions Inc. $1.5B — (loss-making) — (loss-making) +1.56% (above 0%: growing) n/m −414.37% (below 0%: shrinking) 24.52% (7.69%) Compare
RES RPC, Inc. $1.3B 63.4× 31.0× +9.52% (above 0%: growing) 0.00% −46.52% (below 0%: shrinking) 24.99% 3.21% Compare
VTOL Bristow Group Inc. $1.2B 11.3× 10.7× +9.38% (above 0%: growing) −35.45% (below 0%: shrinking) −123.13% (below 0%: shrinking) 26.43% 9.61% Compare
PUMP ProPetro Holding Corp. $1.1B — (loss-making) — (loss-making) −6.24% (below 0%: shrinking) n/m −57.23% (below 0%: shrinking) 23.48% (1.04%) Compare
FTK Flotek Industries, Inc. $985.9M 25.4× 40.7× +70.29% (above 0%: growing) +460.00% (above 0%: growing) −31.76% (below 0%: shrinking) 23.93% 14.98% Compare
FET Forum Energy Technologies, Inc. $968.0M — (loss-making) 27.5× +13.24% (above 0%: growing) +77.42% (above 0%: growing) −35.07% (below 0%: shrinking) 31.54% 9.07%
ACDC ProFrac Holding Corp. $856.0M — (loss-making) — (loss-making) −0.76% (below 0%: shrinking) n/m −114.52% (below 0%: shrinking) 22.08% (7.61%) Compare
Median of peers $1.3B 25.4× 30.5× +9.45% +19.05% −51.87% 24.23% 6.00%

All 46 Oil & Gas Equipment & Services stocks →

Forum Energy Technologies, Inc. (FET) key facts

  • Concern: Forum Energy Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $791.5 million, down 3.06% from fiscal 2024.
  • Forum Energy Technologies, Inc. (FET) is an Oil & Gas Equipment & Services company in the Energy sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, FET traded at $84.61, a market capitalization of $968.0 million.
  • Return on equity was −3.16% and debt-to-equity 0.50.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.57 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Forum Energy Technologies, Inc. (FET) Latest News

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stockrow.com/FET · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com