TechnipFMC plc
FTI Energy Oil & Gas Equipment & Services
TechnipFMC plc’s revenue for fiscal 2025 (year ended December 2025) was $9.9 billion, up 9.35% from fiscal 2024. In the quarter to June 2026, revenue grew 9.01%, EPS grew 41.5%, free cash flow grew 87.2% and total debt fell 40.5%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.
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TechnipFMC plc (FTI) Beneish M-score
TechnipFMC plc's Beneish M-score for fiscal 2025 is −2.99; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.99 | (0.52) |
| FY2024 | −2.46 | 0.25 |
| FY2023 | −2.72 | (0.15) |
| FY2022 | −2.56 | 0.56 |
| FY2021 | −3.12 | 0.74 |
| FY2020 | −3.86 | (0.90) |
| FY2019 | −2.96 | (0.61) |
| FY2018 | −2.35 | (0.34) |
| FY2017 | −2.01 | (0.77) |
| FY2016 | −1.24 | 1.50 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.82 | — | 0.76 | |
| Gross margin index | 0.86 | — | 0.46 | |
| Asset quality index | 0.98 | — | 0.40 | |
| Sales growth index | 1.09 | — | 0.98 | |
| Depreciation index | 0.96 | — | 0.11 | |
| SG&A index | 0.97 | — | −0.17 | |
| Total accruals to total assets | (0.08) | — | −0.37 | |
| Leverage index | 0.95 | — | −0.31 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.99 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| FTI TechnipFMC plc | −3.0× |
| NOV NOV Inc. compare | −3.0× |
| HAL Halliburton Company compare | −2.7× |
| BKR Baker Hughes Company compare | −2.7× |
| WFRD Weatherford International PLC compare | −2.6× |
| TS Tenaris S.A. compare | −2.5× |
| SLB SLB Limited compare | −2.5× |
| SEI Solaris Energy Infrastructure, Inc. compare | −2.3× |
| LB LandBridge Company LLC compare | −1.5× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI