(FET) Forum Energy Technologies - Ratings and Ratios
Drilling Equipment, Subsea Vehicles, Frac Pumps, Artificial Lift, Downhole Tools
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 48.4% |
| Value at Risk 5%th | 75.9% |
| Relative Tail Risk | -4.67% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.59 |
| Alpha | 99.82 |
| CAGR/Max DD | 0.06 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.491 |
| Beta | 1.453 |
| Beta Downside | 2.082 |
| Drawdowns 3y | |
|---|---|
| Max DD | 59.14% |
| Mean DD | 35.21% |
| Median DD | 38.17% |
Description: FET Forum Energy Technologies October 28, 2025
Forum Energy Technologies (NYSE:FET) designs and manufactures equipment for oil, natural gas, industrial and renewable-energy markets, operating through two divisions: Drilling & Completions and Artificial Lift & Downhole. The former supplies drilling-rig hardware, subsea ROVs, coiled-tubing systems and hydraulic-fracturing pumps; the latter provides artificial-lift gear, downhole tooling, sand-control devices and industrial valves. Products are sold worldwide via distributors to rig contractors, offshore service firms, government agencies and oil-field operators. The company, incorporated in 2005 and rebranded from Forum Oilfield Technologies in 2010, is headquartered in Houston, Texas.
Key quantitative points (FY 2023): revenue of roughly $1.1 billion, an operating margin near 6 %, and a backlog of about $300 million, indicating moderate demand cushioning. The segment mix is roughly 55 % Drilling & Completions and 45 % Artificial Lift, with artificial-lift sales trending upward as mature fields require enhanced recovery. Macro drivers include global rig-count cycles, oil-price volatility (which directly impacts capital-expenditure budgets), and the growing share of renewable-energy projects that create ancillary demand for subsea and high-pressure equipment.
If you want to dig deeper into FET’s valuation sensitivities-such as how changes in oil price forecasts or rig-count trends affect its cash-flow model-ValueRay’s analytical tools can provide a data-rich starting point.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income (-115.2m TTM) > 0 and > 6% of Revenue (6% = 47.4m TTM) |
| FCFTA 0.11 (>2.0%) and ΔFCFTA 4.01pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 31.59% (prev 31.56%; Δ 0.03pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.11 (>3.0%) and CFO 86.5m > Net Income -115.2m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 2.19 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (12.1m) change vs 12m ago -1.78% (target <= -2.0% for YES) |
| Gross Margin 27.89% (prev 30.26%; Δ -2.37pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 90.64% (prev 82.22%; Δ 8.42pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -3.83 (EBITDA TTM -50.4m / Interest Expense TTM 20.5m) >= 6 (WARN >= 3) |
Altman Z'' -4.20
| (A) 0.32 = (Total Current Assets 459.3m - Total Current Liabilities 209.6m) / Total Assets 770.1m |
| (B) -1.10 = Retained Earnings (Balance) -846.5m / Total Assets 770.1m |
| warn (B) unusual magnitude: -1.10 — check mapping/units |
| (C) -0.09 = EBIT TTM -78.4m / Avg Total Assets 871.9m |
| (D) -2.04 = Book Value of Equity -964.4m / Total Liabilities 472.8m |
| Total Rating: -4.20 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 51.56
| 1. Piotroski 4.50pt |
| 2. FCF Yield 13.35% |
| 3. FCF Margin 10.25% |
| 4. Debt/Equity 0.76 |
| 5. Debt/Ebitda -3.84 |
| 6. ROIC - WACC (= -22.19)% |
| 7. RoE -36.25% |
| 8. Rev. Trend 80.03% |
| 9. EPS Trend 75.47% |
What is the price of FET shares?
Over the past week, the price has changed by -2.01%, over one month by +18.86%, over three months by +28.51% and over the past year by +130.66%.
Is FET a buy, sell or hold?
What are the forecasts/targets for the FET price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 33 | -4.4% |
| Analysts Target Price | 33 | -4.4% |
| ValueRay Target Price | 37.2 | 7.8% |
FET Fundamental Data Overview December 05, 2025
P/E Forward = 22.8311
P/S = 0.5232
P/B = 1.22
P/EG = -1.07
Beta = 0.589
Revenue TTM = 790.3m USD
EBIT TTM = -78.4m USD
EBITDA TTM = -50.4m USD
Long Term Debt = 138.5m USD (from longTermDebt, last quarter)
Short Term Debt = 1.44m USD (from shortTermDebt, last quarter)
Debt = 225.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 193.5m USD (from netDebt column, last quarter)
Enterprise Value = 607.0m USD (413.5m + Debt 225.2m - CCE 31.7m)
Interest Coverage Ratio = -3.83 (Ebit TTM -78.4m / Interest Expense TTM 20.5m)
FCF Yield = 13.35% (FCF TTM 81.0m / Enterprise Value 607.0m)
FCF Margin = 10.25% (FCF TTM 81.0m / Revenue TTM 790.3m)
Net Margin = -14.58% (Net Income TTM -115.2m / Revenue TTM 790.3m)
Gross Margin = 27.89% ((Revenue TTM 790.3m - Cost of Revenue TTM 569.9m) / Revenue TTM)
Gross Margin QoQ = 20.50% (prev 29.71%)
Tobins Q-Ratio = 0.79 (Enterprise Value 607.0m / Total Assets 770.1m)
Interest Expense / Debt = 1.94% (Interest Expense 4.37m / Debt 225.2m)
Taxrate = -96.13% (out of range, set to none) (10.1m / -10.5m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 2.19 (Total Current Assets 459.3m / Total Current Liabilities 209.6m)
Debt / Equity = 0.76 (Debt 225.2m / totalStockholderEquity, last quarter 297.3m)
Debt / EBITDA = -3.84 (negative EBITDA) (Net Debt 193.5m / EBITDA -50.4m)
Debt / FCF = 2.39 (Net Debt 193.5m / FCF TTM 81.0m)
Total Stockholder Equity = 317.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -14.96% (Net Income -115.2m / Total Assets 770.1m)
RoE = -36.25% (Net Income TTM -115.2m / Total Stockholder Equity 317.9m)
RoCE = -17.18% (EBIT -78.4m / Capital Employed (Equity 317.9m + L.T.Debt 138.5m))
RoIC = -14.82% (negative operating profit) (EBIT -78.4m / (Assets 770.1m - Curr.Liab 209.6m - Cash 31.7m))
WACC = 7.36% (E(413.5m)/V(638.7m) * Re(11.37%) + (debt cost/tax rate unavailable))
Discount Rate = 11.37% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 8.96%
[DCF Debug] Terminal Value 57.09% ; FCFE base≈74.0m ; Y1≈48.6m ; Y5≈22.2m
Fair Price DCF = 24.56 (DCF Value 279.4m / Shares Outstanding 11.4m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 75.47 | EPS CAGR: 143.9% | SUE: -0.32 | # QB: 0
Revenue Correlation: 80.03 | Revenue CAGR: 7.79% | SUE: 0.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.19 | Chg30d=-0.110 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=1.48 | Chg30d=+0.150 | Revisions Net=-1 | Growth EPS=+179.2% | Growth Revenue=+0.5%
Additional Sources for FET Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle