FET Stock Analysis: Forum Energy Technologies | NYSE
Oil & Gas Equipment & Services | NYSE, USA | Market Cap: 907m USD | 12M Return: 220.7% | US34984V2097 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.9M
Qual. Beats: 2
Rev. Trend: 82.5%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.6 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: -1.58m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -3.44 > 1.0 |
| NWC/Revenue: 31.55% < 20% (prev 35.60%; Δ -4.05% < -1%) |
| CFO/TA 0.08 > 3% & CFO 59.4m > Net Income -1.58m |
| Net Debt (277.6m) to EBITDA (79.3m): 3.50 < 3 |
| Current Ratio: 2.19 > 1.5 & < 3 |
| Outstanding Shares: last quarter (11.8m) vs 12m ago -6.22% < -2% |
| Gross Margin: 28.04% > 18% (prev 30.67%; Δ -2.63% > 0.5%) |
| Asset Turnover: 105.4% > 50% (prev 98.98%; Δ 6.45% > 0%) |
| Interest Coverage Ratio: 2.24 > 6 (EBIT TTM 38.2m / Interest Expense TTM 17.0m) |
| A: 0.34 (Total Current Assets 483.5m - Total Current Liabilities 220.6m) / Total Assets 770.7m |
| B: -1.07 (Retained Earnings -827.6m / Total Assets 770.7m) |
| C: 0.05 (EBIT TTM 38.2m / Avg Total Assets 790.4m) |
| D: 0.60 (Book Value of Equity 289.8m / Total Liabilities 480.9m) |
| Altman-Z'' = -0.30 = B |
| DSRI: 0.99 (Receivables 174.0m/169.7m, Revenue 833.3m/801.8m) |
| GMI: 1.09 (GM 30.67% / 28.04%) |
| AQI: 0.89 (AQ_t 0.21 / AQ_t-1 0.23) |
| SGI: 1.04 (Revenue 833.3m / 801.8m) |
| TATA: -0.08 (NI -1.58m - CFO 59.4m) / TA 770.7m) |
| Beneish M = -3.00 (Cap -4..+1) = A |
As of September 04, 2026, the stock is trading at USD 81.87 with a total of 138,791 shares traded. Over the past week, the price has changed by +2.62%, over one month by +16.38%, over three months by +56.93% and over the past year by +220.68%.
Current recommended Stop Loss: 77.10 (which is 5.8% or 1.3 ATR below the current price).
Forum Energy Technologies has no consensus analysts rating.
| Analysts Target Price | 91 | 11.2% |
P/E Forward = 24.0964
P/S = 1.0879
P/B = 3.0962
P/EG = 3.0128
Revenue TTM = 833.3m USD
EBIT TTM = 38.2m USD
EBITDA TTM = 79.3m USD
Long Term Debt = 142.4m USD (from longTermDebt, last quarter)
Short Term Debt = 1.27m USD (from shortTermDebt, last quarter)
Debt = 311.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 83.8m
Net Debt = 277.6m USD (calculated: Debt 311.3m - CCE 33.7m)
Enterprise Value = 1.18b USD (906.6m + Debt 311.3m - CCE 33.7m)
Interest Coverage Ratio = 2.24 (Ebit TTM 38.2m / Interest Expense TTM 17.0m)
EV/FCF = 22.25x (Enterprise Value 1.18b / FCF TTM 53.2m)
FCF Yield = 4.49% (FCF TTM 53.2m / Enterprise Value 1.18b)
FCF Margin = 6.39% (FCF TTM 53.2m / Revenue TTM 833.3m)
Net Margin = -0.19% (Net Income TTM -1.58m / Revenue TTM 833.3m)
Gross Margin = 28.04% ((Revenue TTM 833.3m - Cost of Revenue TTM 599.7m) / Revenue TTM)
Gross Margin QoQ = 31.54% (prev 29.22%)
Tobins Q-Ratio = 1.54 (Enterprise Value 1.18b / Total Assets 770.7m)
Interest Expense / Debt = 5.47% (Interest Expense 17.0m / Debt 311.3m)
Taxrate = 22.50% (3.60m / 16.0m)
NOPAT = 29.6m (EBIT 38.2m * (1 - 22.50%))
Current Ratio = 2.19 (Total Current Assets 483.5m / Total Current Liabilities 220.6m)
Debt / Equity = 1.07 (Debt 311.3m / totalStockholderEquity, last quarter 289.8m)
Debt / EBITDA = 3.50 (Net Debt 277.6m / EBITDA 79.3m)
Debt / FCF = 5.22 (Net Debt 277.6m / FCF TTM 53.2m)
Total Stockholder Equity = 289.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.20% (Net Income -1.58m / Total Assets 770.7m)
RoE = -0.55% (Net Income TTM -1.58m / Total Stockholder Equity 289.7m)
RoCE = 8.84% (EBIT 38.2m / Capital Employed (Equity 289.7m + L.T.Debt 142.4m))
RoIC = 5.72% (NOPAT 29.6m / Invested Capital 517.7m)
WACC = 10.63% (E(906.6m)/V(1.22b) * Re(12.83%) + D(311.3m)/V(1.22b) * Rd(5.47%) * (1-Tc(0.22)))
Discount Rate = 12.83% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -63.74 | Cagr: -1.57%
[DCF] Terminal Value 65.07% ; FCFF base≈65.5m ; Y1≈57.4m ; Y5≈46.4m
[DCF] Fair Price = 23.50 (EV 541.9m - Net Debt 277.6m = Equity 264.3m / Shares 11.2m; r=10.63% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 2.57 | # QB: 2
Revenue Correlation: 82.47 | Revenue CAGR: 3.56% | SUE: 2.05 | # QB: 1
EPS current Quarter (2026-09-30): EPS=1.22 | Chg30d=+127.10% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=4.01 | Chg30d=+85.65% | Revisions=+25% | GrowthEPS=+536.5% | GrowthRev=+12.0%
EPS next Year (2027-12-31): EPS=4.96 | Chg30d=+80.04% | Revisions=+25% | GrowthEPS=+23.7% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: +50% (up=3, down=0)