FLOTEK INDUSTRIES INC/CN/ FTK
Flotek strives to be the collaborative partner of choice for solutions that reduce the environmental impact of energy on air, water, land and people. An advanced technology-driven, chemical and data analytics company, Flotek seeks to provide unique and innovative solutions to its customers in both the domestic and international energy markets. The Company is committed to delivering products and services that endeavor to maximize customer returns by leveraging chemistry as the common value creation platform.
The Company's Chemistry Technologies ("CT") segment designs, develops, manufactures, packages, distributes and markets optimized chemistry solutions that we believe help customers improve their return on invested capital, lower operational costs and realize tangible environmental benefits aimed at enhancing the profitability of hydrocarbon producers.
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 | $237.3M | $187.0M | $188.1M | $136.1M | $39.6M | $53.1M | $119.4M | $177.8M | $243.1M | $188.2M |
| Cost of revenue | $177.4M | $147.6M | $163.8M | $142.8M | $40.0M | $81.8M | — | — | $215.1M | $170.3M |
| Gross profit | $59.8M | $39.4M | $24.3M | -$6.7M | $3.3M | -$28.7M | — | — | $28.0M | $90.7M |
| R&D | $1.8M | $1.7M | $2.5M | $4.4M | $5.5M | $7.2M | $8.9M | $10.4M | $13.1M | $9.3M |
| SG&A | $28.0M | $24.7M | $27.8M | $27.1M | $20.2M | $22.8M | $28.0M | $31.5M | $41.5M | $43.7M |
| Total operating expenses | $36.6M | $27.2M | $1.0M | $28.7M | $34.7M | $115.0M | $194.9M | $247.6M | $253.4M | $205.2M |
| Operating income | $23.2M | $12.2M | $23.2M | -$35.4M | -$31.5M | -$143.6M | -$75.5M | -$69.8M | -$10.3M | -$17.0M |
| Interest expense | $3.9M | $1.1M | $2.9M | $7.1M | $78.0K | $60.0K | $2.0M | $2.9M | $2.2M | $2.0M |
| Pre-tax income | $19.7M | $11.1M | $24.9M | -$42.3M | -$30.6M | -$142.6M | -$75.8M | -$80.7M | -$11.4M | -$6.7M |
| Income tax | $10.9M | $649.0K | $149.0K | $22.0K | $40.0K | $6.2M | $262.0K | $7.2M | $6.1M | $2.2M |
| Net income | $30.5M | $10.5M | $24.7M | -$42.3M | -$30.5M | -$136.4M | -$33.9M | -$70.3M | -$27.4M | -$49.1M |
| EPS, basic | 0.90 | 0.36 | 1.00 | -3.41 | -0.42 | -2.00 | -0.55 | -1.21 | -0.47 | -0.88 |
| EPS, diluted | 0.84 | 0.34 | -0.10 | -3.41 | -0.42 | -2.00 | -0.57 | -1.21 | -0.47 | -0.88 |
| Shares, diluted (wtd. avg.) | $36.2M | $30.9M | $28.4M | $12.4M | $73.4M | $68.3M | $58.8M | $58.0M | $57.6M | $56.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.7M | $4.4M | $5.9M | $12.3M | $11.5M | $38.7M | $100.6M | $3.0M | $4.6M | $4.8M |
| Receivables | — | — | — | $19.1M | $12.0M | $11.8M | $15.6M | $37.0M | $34.9M | $47.2M |
| Inventory | $10.6M | $13.3M | $12.8M | $15.7M | $9.5M | $11.8M | $23.2M | $27.3M | $32.5M | $58.3M |
| Total current assets | $110.8M | $96.5M | $76.4M | $80.1M | $42.6M | $66.5M | $153.9M | $194.8M | $137.9M | $188.6M |
| Property, plant and equipment | — | — | — | — | — | — | $39.8M | $45.5M | $52.8M | $74.7M |
| Goodwill | — | — | — | — | $0 | $8.1M | $0 | $0 | $37.2M | $56.7M |
| Other intangibles | — | — | — | — | — | — | $20.3M | $26.8M | $22.0M | $50.4M |
| Total assets | $220.0M | $170.8M | $157.5M | $164.8M | $50.2M | $86.2M | $230.6M | $285.9M | $329.9M | $383.2M |
| Accounts payable | $48.3M | $38.1M | $31.7M | $33.4M | $7.6M | $5.8M | $16.2M | $15.0M | $10.4M | $30.0M |
| Short-term debt | — | — | — | — | $1.4M | $4.0M | $0 | $49.7M | $27.9M | $40.6M |
| Total current liabilities | $61.6M | $50.4M | $47.8M | $151.4M | $18.8M | $28.9M | $41.3M | $84.3M | $64.6M | $87.7M |
| Long-term debt | $40.0M | $0 | $60.0K | $2.7M | $3.4M | $1.6M | $0 | — | $0 | $7.8M |
| Total liabilities | $107.0M | $56.9M | $55.6M | $162.2M | $30.1M | $39.0M | $58.6M | $84.3M | $64.6M | $95.5M |
| Retained earnings | -$285.8M | -$316.3M | -$326.8M | -$351.5M | -$309.2M | -$278.7M | -$142.2M | -$107.6M | -$37.2M | -$9.8M |
| Total equity | $113.1M | $113.9M | $102.0M | $2.6M | $20.2M | $47.2M | $172.0M | $202.0M | $265.3M | $287.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.2M | $3.4M | -$11.3M | -$44.6M | -$25.8M | -$47.8M | -$4.5M | -$20.8M | $12.3M | $1.2M |
| Depreciation and amortisation | $1.8M | $891.0K | $734.0K | $734.0K | $1.0M | $2.5M | $6.5M | $9.2M | $9.8M | $8.2M |
| Stock-based compensation | $2.3M | $1.4M | -$254.0K | $3.3M | $3.8M | $3.0M | $4.2M | $7.0M | $10.6M | $11.4M |
| Capital expenditure | — | — | — | $421.0K | $39.0K | $1.4M | $2.4M | $3.6M | $4.2M | $13.1M |
| Investing cash flow | -$2.0M | -$1.8M | -$1.0M | $5.3M | $112.0K | -$17.7M | $152.7M | -$2.1M | $14.5M | -$21.4M |
| Financing cash flow | -$3.7M | -$3.1M | $5.9M | $38.3M | -$372.0K | $3.7M | -$50.0M | $21.5M | -$27.3M | $22.9M |
| Buybacks | — | — | — | — | — | — | $0 | $0 | $5.2M | $0 |
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 0000928054-26-000020.
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