FET Stock Analysis: Forum Energy Technologies | NYSE
Oil & Gas Equipment & Services | NYSE, USA | Market Cap: 943m USD | 12M Return: 199.4% | US34984V2097 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.9M
Qual. Beats: 2
Rev. Trend: 82.5%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.7 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) is a Houston-based manufacturer and supplier of equipment and consumable products primarily serving the upstream oil and natural gas industry, with additional exposure to the defense and renewable energy sectors. The company operates through two segments: Drilling and Completions, which provides drilling capital equipment, subsea remotely operated vehicles, hydraulic fracturing pumps, wireline cable, and coiled tubing solutions; and Artificial Lift and Downhole, which supplies artificial lift systems, well construction equipment, sand and flow control products for heavy oil applications, and industrial valves. FET sells its products to drilling rig contractors, offshore service companies, governmental organizations, and oil and gas operators and producers, both domestically and internationally. The company was incorporated in 2005 and is classified within the Energy sectors Oil & Gas Equipment & Services sub-industry, a segment that typically experiences demand cycles closely tied to global drilling and completion activity levels.
- US land rig count recovery lifts drilling completions orders
- Shale production sustains artificial lift and downhole demand
- Free cash flow funds debt reduction and capital investment
| 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 (69.2m): 4.01 < 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 October 20, 2026, the stock is trading at USD 85.06 with a total of 231,200 shares traded. Over the past week, the price has changed by -0.77%, over one month by +5.19%, over three months by +60.98% and over the past year by +199.40%.
Current recommended Stop Loss: 75.50 (which is 11.2% or 2.6 ATR below the current price).
Forum Energy Technologies has no consensus analysts rating.
| Analysts Target Price | 91 | 7% |
P/E Forward = 15.0602
P/S = 1.1095
P/B = 3.2734
P/EG = 1.8825
Revenue TTM = 833.3m USD
EBIT TTM = 38.2m USD
EBITDA TTM = 69.2m 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 = 1.22b USD (943.2m + Debt 311.3m - CCE 33.7m)
Interest Coverage Ratio = 2.24 (Ebit TTM 38.2m / Interest Expense TTM 17.0m)
EV/FCF = 22.94x (Enterprise Value 1.22b / FCF TTM 53.2m)
FCF Yield = 4.36% (FCF TTM 53.2m / Enterprise Value 1.22b)
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 = 1.58 (Enterprise Value 1.22b / 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 = 4.01 (Net Debt 277.6m / EBITDA 69.2m)
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 = 10.13% (E(943.2m)/V(1.25b) * Re(12.07%) + D(311.3m)/V(1.25b) * Rd(5.47%) * (1-Tc(0.22)))
Discount Rate = 12.07% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -63.74 | Cagr: -1.57%
[DCF] Terminal Value 66.76% ; FCFF base≈65.5m ; Y1≈57.4m ; Y5≈46.4m
[DCF] Fair Price = 26.05 (EV 576.4m - Net Debt 277.6m = Equity 298.8m / Shares 11.5m; r=10.13% [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=+0.00% | Revisions=+40% | Analysts=2
EPS current Year (2026-12-31): EPS=4.01 | Chg30d=+0.00% | Revisions=+40% | GrowthEPS=+536.5% | GrowthRev=+12.0%
EPS next Year (2027-12-31): EPS=4.96 | Chg30d=+0.00% | Revisions=+40% | GrowthEPS=+23.7% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: +67% (up=6, down=0)