NYSE : FET
Forum Energy Technologies, Inc. — Financial statements
Energy · Oil & Gas Equipment & Services · United States
Last price 88.76 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 998.22M
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Financial statements
Forum Energy Technologies, Inc. (FET) reported revenue of 873.93M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 873.93M | 791.47M | 816.42M | 738.86M | 699.91M | 541.07M |
| Cost of Revenue | 606.09M | 572.44M | 561.39M | 534.71M | 511.39M | 417.73M |
| Gross Profit | 267.84M | 219.04M | 255.03M | 204.15M | 188.53M | 123.34M |
| Selling, General & Admin | 202.44M | 199.91M | 219.32M | 180.39M | 179.47M | 168.89M |
| Operating Expenses | 202.44M | 199.91M | 219.32M | 180.39M | 179.47M | 168.89M |
| Operating Income | 65.40M | 19.13M | 35.71M | 23.76M | 9.05M | -45.55M |
| Interest Expense | -16.71M | -18.31M | -31.49M | -18.30M | -31.52M | -32.01M |
| Currency Exchange Gain (Loss) | -683.00K | 4.75M | -7.32M | -10.23M | 24.55M | -217.00K |
| Other Non Operating Income (Expenses) | -1.52M | -546.00K | -7.73M | |||
| EBT Excluding Unusual Items | 46.48M | 5.03M | -10.82M | -4.77M | 2.08M | -77.77M |
| Merger & Restructuring Charges | -2.89M | |||||
| Gain (Loss) on Sale of Assets | 355.00K | 11.56M | 4.38M | -156.00K | 8.27M | 1.05M |
| Asset Writedown | -119.12M | |||||
| Other Unusual Items | -2.85M | -5.29M | ||||
| Pretax Income | 46.84M | 16.59M | -128.43M | -7.81M | 10.35M | -82.01M |
| Income Tax Expense | 16.64M | 26.25M | 6.90M | 11.06M | 6.64M | 642.00K |
| Earnings From Continuing Operations | 30.20M | -9.66M | -135.33M | -18.88M | 3.71M | -82.65M |
| Net Income | 30.20M | -9.66M | -135.33M | -18.88M | 3.71M | -82.65M |
| Net Income to Common | 30.20M | -9.66M | -135.33M | -18.88M | 3.71M | -82.65M |
| Shares Outstanding (Basic) | 11.29M | 11.88M | 12.30M | 10.21M | 5.75M | 5.64M |
| Shares Outstanding (Diluted) | 11.67M | 11.88M | 12.30M | 10.21M | 5.95M | 5.64M |
| EPS (Basic) | 2.67 | -0.81 | -11.00 | -1.85 | 0.65 | -14.65 |
| EPS (Diluted) | 2.59 | -0.81 | -11.00 | -1.85 | 0.62 | -14.65 |
| Free Cash Flow | 62.05M | 64.39M | 84.05M | 239.00K | -24.55M | -18.17M |
| Free Cash Flow Per Share | 5.32 | 5.42 | 6.83 | 0.02 | -4.12 | -3.22 |
| Gross Margin | 30.65% | 27.67% | 31.24% | 27.63% | 26.94% | 22.80% |
| Operating Margin | 7.48% | 2.42% | 4.37% | 3.22% | 1.29% | -8.42% |
| Profit Margin | 3.46% | -1.22% | -16.57% | -2.56% | 0.53% | -15.28% |
| Free Cash Flow Margin | 7.10% | 8.13% | 10.29% | 0.03% | -3.51% | -3.36% |
| EBITDA | 95.82M | 52.89M | 89.42M | 58.49M | 46.03M | -3.37M |
| EBITDA Margin | 10.96% | 6.68% | 10.95% | 7.92% | 6.58% | -0.62% |
| D&A For EBITDA | 30.42M | 33.76M | 53.72M | 34.73M | 36.98M | 42.18M |
| EBIT | 65.40M | 19.13M | 35.71M | 23.76M | 9.05M | -45.55M |
| EBIT Margin | 7.48% | 2.42% | 4.37% | 3.22% | 1.29% | -8.42% |
| Effective Tax Rate | 35.52% | 158.24% | 64.13% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 35.17M | 34.66M | 44.66M | 46.16M | 51.03M | 46.86M |
| Cash & Short-Term Investments | 35.17M | 34.66M | 44.66M | 46.16M | 51.03M | 46.86M |
| Accounts Receivable | 193.62M | 151.79M | 166.31M | 161.91M | 170.05M | 134.43M |
| Receivables | 193.62M | 151.79M | 166.31M | 161.91M | 170.05M | 134.43M |
| Inventory | 245.06M | 239.42M | 265.49M | 299.64M | 269.83M | 241.74M |
| Prepaid Expenses | 24.68M | 23.02M | 19.18M | 21.89M | 21.96M | 23.70M |
| Total Current Assets | 498.53M | 448.88M | 495.64M | 529.60M | 512.87M | 446.73M |
| Property, Plant & Equipment | 125.80M | 132.64M | 133.81M | 116.80M | 120.23M | 119.44M |
| Goodwill | 77.23M | 64.67M | 61.65M | |||
| Other Intangible Assets | 92.87M | 93.64M | 109.23M | 167.97M | 191.48M | 217.41M |
| Long-Term Deferred Tax Assets | 7.82M | 7.89M | 11.45M | 368.00K | 184.00K | 203.00K |
| Long-Term Deferred Charges | 2.77M | 1.58M | 2.15M | 1.16M | 1.17M | 1.48M |
| Other Long-Term Assets | 3.01M | 3.16M | 2.02M | 5.16M | 8.83M | 6.08M |
| Total Assets | 808.02M | 752.46M | 815.95M | 821.06M | 834.76M | 791.34M |
| Accounts Payable | 132.56M | 94.56M | 109.65M | 125.92M | 118.26M | 99.38M |
| Accrued Expenses | 82.15M | 64.46M | 66.18M | 53.26M | 67.77M | 47.48M |
| Current Portion of Leases | 1.12M | 13.19M | 12.92M | 10.39M | 9.56M | 11.82M |
| Current Unearned Revenue | 28.23M | 34.32M | 13.10M | 14.77M | 14.71M | 16.98M |
| Total Current Liabilities | 244.07M | 206.53M | 201.86M | 204.34M | 210.29M | 175.66M |
| Long-Term Debt | 125.56M | 131.92M | 185.02M | 127.89M | 237.90M | 232.02M |
| Long-Term Leases | 83.04M | 86.56M | 74.65M | 63.13M | 65.86M | 35.10M |
| Long-Term Deferred Tax Liabilities | 17.61M | 20.43M | 23.68M | 940.00K | 902.00K | 834.00K |
| Other Long-Term Liabilities | 19.55M | 15.88M | 10.85M | 12.13M | 12.77M | 18.61M |
| Total Liabilities | 489.83M | 461.31M | 496.05M | 408.43M | 527.72M | 462.21M |
| Common Stock | 137.00K | 132.00K | 130.00K | 109.00K | 62.00K | 61.00K |
| Additional Paid-In Capital | 1.44B | 1.43B | 1.42B | 1.37B | 1.25B | 1.25B |
| Retained Earnings | -816.33M | -844.46M | -834.80M | -699.47M | -680.60M | -684.31M |
| Treasury Stock | -185.63M | -176.67M | -142.06M | -142.06M | -138.56M | -135.56M |
| Comprehensive Income & Other | -122.21M | -115.45M | -123.25M | -115.24M | -127.48M | -101.03M |
| Total Common Equity | 318.19M | 291.14M | 319.90M | 412.63M | 307.04M | 329.13M |
| Shareholders' Equity | 318.19M | 291.14M | 319.90M | 412.63M | 307.04M | 329.13M |
| Total Liabilities & Equity | 808.02M | 752.46M | 815.95M | 821.06M | 834.76M | 791.34M |
| Total Debt | 209.73M | 231.67M | 272.59M | 201.40M | 313.31M | 278.93M |
| Net Cash (Debt) | -174.56M | -197.01M | -227.93M | -155.24M | -262.28M | -232.07M |
| Net Cash Per Share | -14.96 | -16.58 | -18.53 | -15.20 | -44.07 | -41.13 |
| Filing Date Shares Outstanding | 11.47M | 11.26M | 12.35M | 12.28M | 10.30M | 5.65M |
| Total Common Shares Outstanding | 11.47M | 11.10M | 12.29M | 10.19M | 5.65M | 5.63M |
| Working Capital | 254.46M | 242.35M | 293.78M | 325.26M | 302.57M | 271.08M |
| Book Value Per Share | 27.73 | 26.24 | 26.03 | 40.48 | 54.31 | 58.42 |
| Tangible Book Value | 148.09M | 132.84M | 149.02M | 244.66M | 115.55M | 111.72M |
| Tangible Book Value Per Share | 12.91 | 11.97 | 12.12 | 24.00 | 20.44 | 19.83 |
| Land | 1.70M | 2.39M | 4.84M | 4.76M | 7.50M | |
| Buildings | 18.10M | 26.35M | 46.60M | 49.70M | 85.81M | |
| Machinery | 177.93M | 181.29M | 164.63M | 159.69M | 168.11M | |
| Construction In Progress | 5.63M | 5.33M | 1.56M | 4.53M | 1.96M | |
| Order Backlog | 311.60M | 213.50M | 241.60M | 264.80M | 196.50M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 30.20M | -9.66M | -135.33M | -18.88M | 3.71M | -82.65M |
| Depreciation & Amortization | 30.42M | 33.76M | 53.72M | 34.73M | 36.98M | 42.18M |
| Loss (Gain) From Sale of Assets | -11.18M | -4.86M | -7.00M | |||
| Asset Writedown & Restructuring Costs | -115.00K | 4.29M | 119.12M | |||
| Stock-Based Compensation | 10.38M | 9.04M | 7.14M | 4.57M | 4.21M | 7.59M |
| Provision & Write-off of Bad Debts | -193.00K | -193.00K | 389.00K | 1.53M | 2.25M | 2.42M |
| Other Operating Activities | 19.46M | 26.51M | -5.56M | 7.70M | 7.92M | 21.39M |
| Change in Accounts Receivable | -30.86M | 17.21M | 15.21M | 8.82M | -42.63M | -44.88M |
| Change in Inventory | -5.66M | 11.07M | 41.47M | -31.93M | -34.61M | 1.94M |
| Change in Accounts Payable | 18.00M | -18.24M | -7.67M | -4.89M | 20.76M | 36.33M |
| Change in Unearned Revenue | 5.60M | 12.00M | 438.00K | 3.85M | -9.23M | 7.99M |
| Change in Other Net Operating Assets | -8.71M | -4.20M | 8.13M | 2.69M | 590.00K | -8.08M |
| Operating Cash Flow | 68.52M | 70.40M | 92.19M | 8.18M | -17.05M | -15.78M |
| Capital Expenditures | -6.47M | -6.01M | -8.14M | -7.94M | -7.49M | -2.40M |
| Sale of Property, Plant & Equipment | 1.03M | 1.01M | 703.00K | 1.37M | 3.01M | 7.01M |
| Cash Acquisitions | -11.83M | -150.41M | -485.00K | -3.41M | ||
| Divestitures | -1.28M | |||||
| Other Investing Activities | 14.57M | 20.32M | 32.11M | 10.78M | ||
| Investing Cash Flow | -17.28M | 9.57M | -137.53M | -6.57M | 27.14M | 10.70M |
| Long-Term Debt Issued | 562.32M | 874.32M | 451.74M | 544.13M | ||
| Long-Term Debt Repaid | -617.04M | -819.45M | -453.01M | -545.38M | -73.24M | |
| Net Debt Issued (Repaid) | -14.27M | -54.72M | 54.87M | -1.27M | -1.25M | -73.24M |
| Repurchase of Common Stock | -31.73M | -35.93M | -1.09M | -6.00M | -3.83M | -1.41M |
| Other Financing Activities | -1.66M | -914.00K | -8.53M | -311.00K | -1.59M | |
| Financing Cash Flow | -47.66M | -91.57M | 45.24M | -7.58M | -5.08M | -76.24M |
| Foreign Exchange Rate Adjustments | -112.00K | 1.60M | -1.41M | 1.11M | -838.00K | -439.00K |
| Net Cash Flow | 3.48M | -10.00M | -1.50M | -4.86M | 4.17M | -81.76M |
| Free Cash Flow | 62.05M | 64.39M | 84.05M | 239.00K | -24.55M | -18.17M |
| Free Cash Flow Margin | 7.10% | 8.13% | 10.29% | 0.03% | -3.51% | -3.36% |
| Free Cash Flow Per Share | 5.32 | 5.42 | 6.83 | 0.02 | -4.12 | -3.22 |
| Levered Free Cash Flow | 63.73M | 78.45M | 82.79M | 6.39M | -5.42M | 12.80M |
| Unlevered Free Cash Flow | 74.18M | 89.90M | 102.47M | 17.82M | 14.28M | 32.81M |
| Cash Interest Paid | 14.81M | 16.94M | 26.76M | 17.09M | 25.32M | 27.07M |
| Cash Income Tax Paid | 21.28M | 25.99M | 23.12M | 8.80M | -383.00K | 2.44M |
| Change in Working Capital | -21.62M | 17.84M | 57.57M | -21.46M | -65.12M | -6.71M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 925.73M | 420.42M | 190.27M | 225.98M | 169.08M | 91.17M |
| Enterprise Value | 1.10B | 613.89M | 446.41M | 381.01M | 425.34M | 309.69M |
| Last Close Price | 84.94 | 36.95 | 15.49 | 22.17 | 29.50 | 16.05 |
| PE Ratio | 31.11 | 45.55 | ||||
| Forward PE | 16.05 | 19.14 | 15.89 | 115.68 | 115.68 | 115.68 |
| PS Ratio | 1.12 | 0.53 | 0.23 | 0.31 | 0.24 | 0.17 |
| PB Ratio | 3.06 | 1.44 | 0.59 | 0.55 | 0.55 | 0.28 |
| P/TBV Ratio | 6.58 | 3.17 | 1.28 | 0.92 | 1.46 | 0.82 |
| P/FCF Ratio | 15.70 | 6.53 | 2.26 | 945.52 | ||
| P/OCF Ratio | 14.22 | 5.97 | 2.06 | 27.62 | ||
| PEG Ratio | 2.10 | 2.39 | 194.29 | 194.29 | 194.29 | 194.29 |
| EV/Sales Ratio | 1.31 | 0.78 | 0.55 | 0.52 | 0.61 | 0.57 |
| EV/EBITDA Ratio | 11.99 | 11.61 | 4.99 | 6.51 | 9.24 | |
| EV/EBIT Ratio | 17.57 | 32.09 | 12.50 | 16.03 | 46.97 | |
| EV/FCF Ratio | 18.52 | 9.53 | 5.31 | 1,594.18 | ||
| Debt / Equity Ratio | 0.66 | 0.80 | 0.85 | 0.49 | 1.02 | 0.85 |
| Debt / EBITDA Ratio | 1.80 | 3.25 | 2.59 | 2.80 | 5.68 | 50.08 |
| Debt / FCF Ratio | 3.38 | 3.60 | 3.24 | 842.69 | ||
| Net Debt / Equity Ratio | 0.55 | 0.68 | 0.71 | 0.38 | 0.85 | 0.70 |
| Net Debt / EBITDA Ratio | 1.82 | 3.73 | 2.55 | 2.65 | 5.70 | -68.89 |
| Net Debt / FCF Ratio | 2.81 | 3.06 | 2.71 | 649.53 | -10.69 | -12.77 |
| Asset Turnover | 1.11 | 1.01 | 1.00 | 0.89 | 0.86 | 0.64 |
| Inventory Turnover | 2.46 | 2.27 | 1.99 | 1.88 | 2.00 | 1.69 |
| Quick Ratio | 0.94 | 0.90 | 1.04 | 1.02 | 1.05 | 1.03 |
| Current Ratio | 2.04 | 2.17 | 2.46 | 2.59 | 2.44 | 2.54 |
| Return on Equity (ROE) | 9.81% | -3.16% | -36.95% | -5.25% | 1.17% | -22.48% |
| Return on Assets (ROA) | 5.18% | 1.52% | 2.73% | 1.79% | 0.70% | -3.39% |
| Return on Invested Capital (ROIC) | 8.64% | -2.15% | 6.40% | 4.18% | 0.57% | -7.65% |
| Return on Capital Employed (ROCE) | 11.60% | 3.50% | 5.80% | 3.90% | 1.50% | -7.40% |
| Earnings Yield | 3.21% | -2.30% | -71.12% | -8.35% | 2.20% | -90.66% |
| FCF Yield | 6.37% | 15.32% | 44.17% | 0.11% | -14.52% | -19.93% |
| Buyback Yield / Dilution | 4.07% | 3.38% | -20.44% | -71.60% | -5.46% | -1.18% |