FORUM ENERGY TECHNOLOGIES, INC. FET
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. Information contained on or accessible from our website is not incorporated by reference into this Annual Report on Form 10-K and should not be considered part of this report or any other filing that we make with the SEC.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $791.5M | $816.4M | $738.9M | $699.9M | $541.1M | $512.5M | $956.5M | $1.06B | $818.6M | $587.6M |
| Cost of revenue | $572.4M | $561.4M | $534.7M | $511.4M | $417.7M | $523.5M | $711.7M | $807.8M | $629.8M | $487.9M |
| Gross profit | $219.0M | $255.0M | $204.2M | $188.5M | $123.3M | -$11.0M | $244.9M | $256.4M | $188.8M | $99.7M |
| SG&A | $199.9M | $219.3M | $180.4M | $179.5M | $168.9M | $197.7M | $251.7M | $287.0M | $253.7M | $227.0M |
| Total operating expenses | $188.9M | $341.8M | $183.4M | $171.2M | $167.8M | $220.6M | $780.7M | $653.5M | $331.4M | $230.5M |
| Operating income | $30.1M | -$86.8M | $20.7M | $17.3M | -$44.5M | -$231.6M | -$536.1M | -$397.0M | -$141.6M | -$129.0M |
| Interest expense | — | — | — | — | — | — | — | — | $26.8M | $27.4M |
| Pre-tax income | $16.6M | -$128.4M | -$7.8M | $10.3M | -$82.0M | -$109.8M | -$568.9M | -$389.8M | -$55.3M | -$138.0M |
| Income tax | $26.2M | $6.9M | $11.1M | $6.6M | $642.0K | $12.9M | $1.8M | $15.7M | $4.1M | $56.1M |
| Net income | -$9.7M | -$135.3M | -$18.9M | $3.7M | -$82.7M | -$96.9M | -$567.1M | -$374.1M | -$59.4M | -$82.0M |
| EPS, basic | -0.81 | -11.00 | -1.85 | 0.65 | -14.65 | -17.37 | -103.01 | -3.44 | -0.60 | -0.90 |
| EPS, diluted | -0.81 | -11.00 | -1.85 | 0.62 | -14.65 | -17.37 | -103.01 | -3.44 | -0.60 | -0.90 |
| Shares, diluted (wtd. avg.) | $11.9M | $12.3M | $10.2M | $6.0M | $5.6M | $5.6M | $5.5M | $108.8M | $98.7M | $91.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $34.7M | $44.7M | $46.2M | $51.0M | $46.9M | $128.6M | $57.9M | $47.2M | $115.2M | $234.4M |
| Receivables | $142.4M | $153.9M | $146.7M | $154.2M | $123.9M | $80.6M | $154.2M | $206.1M | $202.9M | $105.3M |
| Inventory | $239.4M | $265.5M | $299.6M | $269.8M | $241.7M | $251.7M | $414.6M | $479.0M | $443.2M | $338.6M |
| Total current assets | $448.9M | $495.6M | $529.6M | $512.9M | $446.7M | $490.2M | $665.9M | $766.0M | $790.4M | $749.7M |
| Property, plant and equipment | — | — | — | — | — | — | $154.8M | $177.4M | $197.3M | $152.2M |
| Goodwill | $64.7M | $61.7M | $0 | — | — | — | $0 | $469.6M | $755.2M | $652.7M |
| Other intangibles | $93.6M | $109.2M | $168.0M | $191.5M | $217.4M | $240.4M | $272.3M | $359.0M | $443.1M | $216.4M |
| Total assets | $752.5M | $816.0M | $821.1M | $834.8M | $791.3M | $889.9M | $1.16B | $1.83B | $2.20B | $1.84B |
| Accounts payable | $94.6M | $109.7M | $125.9M | $118.3M | $99.4M | $46.4M | $98.7M | $143.2M | $137.7M | $73.8M |
| Short-term debt | $1.4M | $1.9M | $1.2M | $782.0K | $860.0K | $1.3M | — | — | — | — |
| Total current liabilities | $206.5M | $201.9M | $204.3M | $210.3M | $175.7M | $124.9M | $196.8M | $236.9M | $216.3M | $141.8M |
| Long-term debt | $134.5M | $186.5M | $129.6M | $239.1M | $232.4M | $293.4M | $398.9M | — | — | — |
| Total liabilities | $461.3M | $496.1M | $408.4M | $527.7M | $462.2M | $483.7M | $674.0M | $799.5M | $786.2M | $599.4M |
| Retained earnings | -$844.5M | -$834.8M | -$699.5M | -$680.6M | -$684.3M | -$601.7M | -$503.4M | $63.7M | $438.8M | $498.2M |
| Total equity | $291.1M | $319.9M | $412.6M | $307.0M | $329.1M | $406.2M | $486.0M | $1.03B | $1.41B | $1.24B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $70.4M | $92.2M | $8.2M | -$17.1M | -$15.8M | $3.9M | $104.1M | $2.4M | -$40.0M | $64.7M |
| Depreciation and amortisation | $33.8M | $53.7M | $34.7M | $37.0M | $42.2M | $51.0M | $63.2M | $74.5M | $65.1M | $61.8M |
| Stock-based compensation | $9.0M | $7.1M | $4.6M | $4.2M | $7.6M | $9.8M | $15.8M | $19.9M | $20.3M | $20.5M |
| Capital expenditure | $6.0M | $8.1M | $7.9M | $7.5M | $2.4M | $2.2M | $15.1M | $24.0M | $26.7M | $16.8M |
| Investing cash flow | $9.6M | -$137.5M | -$6.6M | $27.1M | $10.7M | $108.2M | $28.1M | -$75.4M | -$188.0M | -$11.1M |
| Financing cash flow | -$91.6M | $45.2M | -$7.6M | -$5.1M | -$76.2M | -$41.8M | -$122.2M | $6.5M | $100.6M | $86.2M |
| Buybacks | $34.6M | $0 | $6.0M | $3.8M | $1.4M | $195.0K | $1.1M | $2.8M | $4.7M | $623.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001401257-26-000015.
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