FET Stock Analysis: Forum Energy Technologies | NYSE
Oil & Gas Equipment & Services | NYSE, USA | Market Cap: 537m USD | 12M Return: 149.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 8.78M
Qual. Beats: 1
Rev. Trend: 81.0%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Forum Energy Technologies, Inc. (FET) designs, manufactures, and supplies equipment and consumables for the oil, natural gas, defense, and renewable energy industries, operating through two segments: Drilling and Completions, and Artificial Lift and Downhole. The Drilling and Completions segment covers drilling capital equipment, subsea remotely operated vehicles (ROVs) and trenchers, hydraulic fracturing pumps, wireline cable, and coiled tubing strings. The Artificial Lift and Downhole segment serves production-stage operations with well construction equipment, downhole technology for heavy oil applications, separation equipment, and industrial valves.
FET sells through distributors and directly to drilling contractors, offshore service companies, government/defense buyers, and oil and gas operators. As an oilfield equipment and services provider, its revenue is closely tied to the cyclical capital spending of exploration and production companies, with Artificial Lift generally linked to ongoing production activity and Drilling and Completions more sensitive to rig counts and new well drilling.
The company was incorporated in 2005 and is headquartered in Houston, Texas. It was formerly known as Forum Oilfield Technologies, Inc. before adopting its current name in August 2010.
- US shale drilling and completion activity drives equipment demand
- Subsea ROV and defense backlog diversifies revenue base
- Hydraulic fracturing consumables sales track pressure pumping activity
| Net Income: -6.29m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -3.28 > 1.0 |
| NWC/Revenue: 31.69% < 20% (prev 35.16%; Δ -3.47% < -1%) |
| CFO/TA 0.08 > 3% & CFO 62.7m > Net Income -6.29m |
| Net Debt (289.2m) to EBITDA (79.2m): 3.65 < 3 |
| Current Ratio: 2.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (11.6m) vs 12m ago -7.38% < -2% |
| Gross Margin: 27.47% > 18% (prev 30.92%; Δ -3.45% > 0.5%) |
| Asset Turnover: 103.9% > 50% (prev 102.2%; Δ 1.73% > 0%) |
| Interest Coverage Ratio: 2.09 > 6 (EBIT TTM 36.6m / Interest Expense TTM 17.5m) |
| A: 0.34 (Total Current Assets 464.3m - Total Current Liabilities 208.6m) / Total Assets 763.1m |
| B: -1.10 (Retained Earnings -840.0m / Total Assets 763.1m) |
| C: 0.05 (EBIT TTM 36.6m / Avg Total Assets 776.6m) |
| D: 0.58 (Book Value of Equity 280.7m / Total Liabilities 482.4m) |
| Altman-Z'' = -0.46 = B |
| DSRI: 1.02 (Receivables 168.5m/165.6m, Revenue 806.9m/807.3m) |
| GMI: 1.13 (GM 30.92% / 27.47%) |
| AQI: 0.95 (AQ_t 0.22 / AQ_t-1 0.23) |
| SGI: 1.00 (Revenue 806.9m / 807.3m) |
| TATA: -0.09 (NI -6.29m - CFO 62.7m) / TA 763.1m) |
| Beneish M = -2.94 (Cap -4..+1) = A |
As of July 14, 2026, the stock is trading at USD 50.58 with a total of 72,938 shares traded. Over the past week, the price has changed by +5.73%, over one month by -6.21%, over three months by -19.21% and over the past year by +149.22%.
Current recommended Stop Loss: 45.70 (which is 9.6% or 2.3 ATR below the current price).
Forum Energy Technologies has no consensus analysts rating.
| Analysts Target Price | 67 | 32.5% |
P/E Forward = 22.5734
P/S = 0.6652
P/B = 1.8921
P/EG = 2.8233
Revenue TTM = 806.9m USD
EBIT TTM = 36.6m USD
EBITDA TTM = 79.2m USD
Long Term Debt = 152.3m USD (from longTermDebt, last quarter)
Short Term Debt = 1.38m USD (from shortTermDebt, last quarter)
Debt = 326.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 86.5m
Net Debt = 289.2m USD (calculated: Debt 326.7m - CCE 37.5m)
Enterprise Value = 825.9m USD (536.7m + Debt 326.7m - CCE 37.5m)
Interest Coverage Ratio = 2.09 (Ebit TTM 36.6m / Interest Expense TTM 17.5m)
EV/FCF = 13.53x (Enterprise Value 825.9m / FCF TTM 61.0m)
FCF Yield = 7.39% (FCF TTM 61.0m / Enterprise Value 825.9m)
FCF Margin = 7.56% (FCF TTM 61.0m / Revenue TTM 806.9m)
Net Margin = -0.78% (Net Income TTM -6.29m / Revenue TTM 806.9m)
Gross Margin = 27.47% ((Revenue TTM 806.9m - Cost of Revenue TTM 585.2m) / Revenue TTM)
Gross Margin QoQ = 29.22% (prev 30.21%)
Tobins Q-Ratio = 1.08 (Enterprise Value 825.9m / Total Assets 763.1m)
Interest Expense / Debt = 5.35% (Interest Expense 17.5m / Debt 326.7m)
Taxrate = 39.19% (2.90m / 7.39m)
NOPAT = 22.2m (EBIT 36.6m * (1 - 39.19%))
Current Ratio = 2.23 (Total Current Assets 464.3m / Total Current Liabilities 208.6m)
Debt / Equity = 1.16 (Debt 326.7m / totalStockholderEquity, last quarter 280.7m)
Debt / EBITDA = 3.65 (Net Debt 289.2m / EBITDA 79.2m)
Debt / FCF = 4.74 (Net Debt 289.2m / FCF TTM 61.0m)
Total Stockholder Equity = 300.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.81% (Net Income -6.29m / Total Assets 763.1m)
RoE = -2.09% (Net Income TTM -6.29m / Total Stockholder Equity 300.8m)
RoCE = 8.07% (EBIT 36.6m / Capital Employed (Equity 300.8m + L.T.Debt 152.3m))
RoIC = 4.29% (NOPAT 22.2m / Invested Capital 518.3m)
WACC = 7.88% (E(536.7m)/V(863.4m) * Re(10.69%) + D(326.7m)/V(863.4m) * Rd(5.35%) * (1-Tc(0.39)))
Discount Rate = 10.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -8.99 | Cagr: 6.05%
[DCF] Terminal Value 73.10% ; FCFF base≈72.3m ; Y1≈63.4m ; Y5≈51.2m
[DCF] Fair Price = 47.14 (EV 822.1m - Net Debt 289.2m = Equity 532.9m / Shares 11.3m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.33 | # QB: 1
Revenue Correlation: 81.00 | Revenue CAGR: 3.33% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.56 | Chg30d=+25.56% | Revisions=+25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.54 | Chg30d=-4.46% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=2.16 | Chg30d=+6.93% | Revisions=+40% | GrowthEPS=+242.9% | GrowthRev=+8.1%
EPS next Year (2027-12-31): EPS=2.75 | Chg30d=+2.80% | Revisions=+0% | GrowthEPS=+27.6% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: +44% (up=5, down=1)