FETNYSEOil & Gas Field Machinery & EquipmentFiscal year ends December 31
FORUM ENERGY TECHNOLOGIES, INC.
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 31, 2026
$85.06+6.36 (+8.08%)
Close on Oct 19, 2026
- Market cap
- $990.18M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
27.7%+29.8 pts over 5 years
Operating margin
3.8%+49.0 pts over 5 years
Net margin
-1.2%+17.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -3.1% | +4.2% | +9.1% | -3.0% | |
| Gross profit | -14.1% | +5.1% | – | -1.8% | |
| Operating income | – | +20.3% | – | – | |
| Free cash flow | -23.4% | – | +108.4% | -6.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -6.6% | -21.7% | -3.2% | |
| Return on assets | -4.4% | -9.5% | -1.2% | |
| Current ratio | 5.29 | 3.92 | 2.17 | |
| Debt to equity | 0.32 | 0.73 | 0.47 | |
| Net debt to EBITDA | -2.42× | -0.92× | 1.58× | |
| Interest coverage | -4.7× | – | – | |
| Inventory turnover | 1.3× | 1.6× | 2.3× | |
| Capex to revenue | 2.9% | 0.4% | 0.8% | |
| Diluted shares | 5M | 6M | 12M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Forum Energy Technologies generated $203.61M from operations and spent $77.84M on capital expenditure, dividends and share buybacks. 41% of that went back into the business.
Generated
$203.61M
Used
$77.84M
Capital expenditure$32.00M41%Dividends$00%Share buybacks$45.85M59%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1.2%
×Asset turnover1.01×
×Equity multiplier2.57×
=Return on equity, FY2025-3.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1.2% | 1.01× | 2.57× | -3.2% |
| FY2024 | -16.6% | 1.00× | 2.23× | -36.9% |
| FY2023 | -2.6% | 0.89× | 2.30× | -5.2% |
| FY2022 | 0.5% | 0.86× | 2.56× | 1.2% |
| FY2021 | -15.3% | 0.64× | 2.29× | -22.5% |
| FY2020 | -18.9% | 0.50× | 2.30× | -21.7% |
| FY2019 | -59.3% | 0.64× | 1.97× | -74.8% |
| FY2018 | -35.2% | 0.53× | 1.65× | -30.7% |
| FY2017 | -7.3% | 0.41× | 1.52× | -4.5% |
| FY2016 | -14.0% | 0.32× | 1.49× | -6.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$9.66M
- Cash generatingOperating cash flow above zero$70.40M
- Return on assets improvedROA up on the prior year-16.5% → -1.2%
- Earnings backed by cashOperating cash flow above net income$70.40M vs -$9.66M
- Less leverageLong-term debt to assets fell22.9% → 17.9%
- Better liquidityCurrent ratio rose2.46 → 2.17
- No dilutionShare count did not rise12M → 12M
- Gross margin improvedGross margin up on the prior year31.24% → 27.67%
- More efficientAsset turnover rose0.99 → 0.97