Forum Energy Technologies Inc Financials

FET

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 56/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Forum Energy Technologies Inc has an operating margin of -10.6%, meaning the company retains $-11 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 2.8% the prior year.

Growth

Forum Energy Technologies Inc's revenue grew 10.5% year-over-year to $816.4M, a solid pace of expansion. This earns a growth score of 59/100.

Leverage

Forum Energy Technologies Inc carries a low D/E ratio of 0.58, meaning only $0.58 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.46, Forum Energy Technologies Inc holds $2.46 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.

Cash Flow

Forum Energy Technologies Inc has a free cash flow margin of 10.3%, earning a moderate score of 51/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

4/9

Forum Energy Technologies Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.68x

For every $1 of reported earnings, Forum Energy Technologies Inc generates $-0.68 in operating cash flow ($92.2M OCF vs -$135.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Forum Energy Technologies Inc (FET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$816.4M

YoY+10.5%

5Y CAGR-3.1%

10Y CAGR-7.3%

Forum Energy Technologies Inc generated $816.4M in revenue in fiscal year 2024. This represents an increase of 10.5% from the prior year.

EBITDA

-$33.0M

YoY-159.6%

Forum Energy Technologies Inc's EBITDA was -$33.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 159.6% from the prior year.

Free Cash Flow

$84.0M

YoY+35065.7%

5Y CAGR-1.1%

10Y CAGR-9.0%

Forum Energy Technologies Inc generated $84.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 35065.7% from the prior year.

Net Income

-$135.3M

YoY-616.9%

Forum Energy Technologies Inc reported -$135.3M in net income in fiscal year 2024. This represents a decrease of 616.9% from the prior year.

EPS (Diluted)

$-11.00

YoY-494.6%

Forum Energy Technologies Inc earned $-11.00 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 494.6% from the prior year.

Cash & Debt

$44.7M

YoY-3.3%

5Y CAGR-5.1%

10Y CAGR-5.2%

Forum Energy Technologies Inc held $44.7M in cash against $186.5M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

31.2%

YoY+3.6pp

5Y CAGR+5.6pp

10Y CAGR-0.9pp

Forum Energy Technologies Inc's gross margin was 31.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 3.6 percentage points from the prior year.

Operating Margin

-10.6%

YoY-13.4pp

5Y CAGR+45.4pp

10Y CAGR-26.0pp

Forum Energy Technologies Inc's operating margin was -10.6% in fiscal year 2024, reflecting core business profitability. This is down 13.4 percentage points from the prior year.

Net Margin

-16.6%

YoY-14.0pp

5Y CAGR+42.7pp

10Y CAGR-26.6pp

Forum Energy Technologies Inc's net profit margin was -16.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 14.0 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Forum Energy Technologies Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$8.1M

YoY+2.5%

5Y CAGR-11.6%

10Y CAGR-17.2%

Forum Energy Technologies Inc invested $8.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 2.5% from the prior year.

FET Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$816.4M+10.5%	$738.9M+5.6%	$699.9M+29.4%	$541.1M+5.6%	$512.5M-46.4%	$956.5M
Cost of Revenue	$561.4M+5.0%	$534.7M+4.6%	$511.4M+22.4%	$417.7M-20.2%	$523.5M-26.4%	$711.7M
Gross Profit	$255.0M+24.9%	$204.2M+8.3%	$188.5M+52.8%	$123.3M+1219.1%	-$11.0M-104.5%	$244.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$219.3M+21.6%	$180.4M+0.5%	$179.5M+6.3%	$168.9M-14.6%	$197.7M-21.5%	$251.7M
Operating Income	-$86.8M-518.8%	$20.7M+19.6%	$17.3M+138.9%	-$44.5M+80.8%	-$231.6M+56.8%	-$536.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$6.9M-37.6%	$11.1M+66.7%	$6.6M+933.8%	$642K+105.0%	-$12.9M-610.1%	-$1.8M
Net Income	-$135.3M-616.9%	-$18.9M-608.5%	$3.7M+104.5%	-$82.7M+14.7%	-$96.9M+82.9%	-$567.1M
EPS (Diluted)	$-11.00-494.6%	$-1.85-398.4%	$0.62+104.2%	$-14.65+15.7%	$-17.37+83.1%	$-103.01

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$196.2M-1.8%	$199.8M+3.4%	$193.3M-3.8%	$201.0M-2.0%	$205.2M+1.4%	$202.4M+9.3%	$185.2M+3.3%	$179.3M
Cost of Revenue	$156.0M+11.1%	$140.4M+4.1%	$134.9M-2.6%	$138.6M-2.5%	$142.1M+2.5%	$138.6M+2.3%	$135.5M+5.7%	$128.2M
Gross Profit	$40.2M-32.2%	$59.4M+1.7%	$58.4M-6.6%	$62.5M-1.0%	$63.1M-1.1%	$63.8M+28.2%	$49.7M-2.5%	$51.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$50.4M-1.4%	$51.2M+3.6%	$49.4M-9.6%	$54.6M+1.8%	$53.7M-1.8%	$54.7M+21.4%	$45.0M-1.0%	$45.5M
Operating Income	-$6.1M-141.6%	$14.7M+66.8%	$8.8M+108.2%	-$106.8M-1446.3%	$7.9M+147.9%	$3.2M+79.1%	$1.8M-68.5%	$5.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$10.1M+62.0%	$6.2M+65.1%	$3.8M+200.7%	-$3.7M-249.5%	$2.5M-29.1%	$3.5M-28.1%	$4.9M+232.3%	$1.5M
Net Income	-$20.6M-366.9%	$7.7M+586.3%	$1.1M+101.1%	-$103.5M-1445.7%	-$6.7M+35.1%	-$10.3M+38.5%	-$16.8M-310.6%	$8.0M
EPS (Diluted)	$-1.76-388.5%	$0.61+577.8%	$0.09+101.1%	$-8.41-1457.4%	$-0.54+36.5%	$-0.85+48.2%	$-1.64-313.0%	$0.77

FET Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$816.0M-0.6%	$821.1M-1.6%	$834.8M+5.5%	$791.3M-11.1%	$889.9M-23.3%	$1.2B
Current Assets	$495.6M-6.4%	$529.6M+3.3%	$512.9M+14.8%	$446.7M-8.9%	$490.2M-26.4%	$665.9M
Cash & Equivalents	$44.7M-3.3%	$46.2M-9.5%	$51.0M+8.9%	$46.9M-63.6%	$128.6M+122.1%	$57.9M
Inventory	$265.5M-11.4%	$299.6M+11.0%	$269.8M+11.6%	$241.7M-4.0%	$251.7M-39.3%	$414.6M
Accounts Receivable	$153.9M+4.9%	$146.7M-4.9%	$154.2M+24.5%	$123.9M+53.7%	$80.6M-47.7%	$154.2M
Goodwill	$61.7M	$0	N/A	N/A	N/A	$0
Total Liabilities	$496.1M+21.5%	$408.4M-22.6%	$527.7M+14.2%	$462.2M-4.4%	$483.7M-28.2%	$674.0M
Current Liabilities	$201.9M-1.2%	$204.3M-2.8%	$210.3M+19.7%	$175.7M+40.6%	$124.9M-36.5%	$196.8M
Long-Term Debt	$186.5M+44.0%	$129.6M-45.8%	$239.1M+2.9%	$232.4M-20.8%	$293.4M-26.4%	$398.9M
Total Equity	$319.9M-22.5%	$412.6M+34.4%	$307.0M-6.7%	$329.1M-19.0%	$406.2M-16.4%	$486.0M
Retained Earnings	-$834.8M-19.3%	-$699.5M-2.8%	-$680.6M+0.5%	-$684.3M-13.7%	-$601.7M-19.5%	-$503.4M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$770.1M-4.9%	$810.1M+2.5%	$790.1M-3.2%	$816.0M-16.5%	$976.8M-4.4%	$1.0B+24.4%	$821.1M-0.9%	$828.9M
Current Assets	$459.3M-5.8%	$487.7M+1.9%	$478.6M-3.4%	$495.6M-4.9%	$521.3M-4.7%	$546.8M+3.2%	$529.6M-0.3%	$531.2M
Cash & Equivalents	$31.7M-18.7%	$39.0M+25.1%	$31.1M-30.3%	$44.7M+40.3%	$31.8M-34.4%	$48.5M+5.0%	$46.2M+24.3%	$37.2M
Inventory	$248.3M-4.5%	$260.0M-1.4%	$263.6M-0.7%	$265.5M-8.8%	$291.1M-3.9%	$303.0M+1.1%	$299.6M-0.9%	$302.3M
Accounts Receivable	$146.9M-5.2%	$155.0M+1.0%	$153.5M-0.3%	$153.9M-6.3%	$164.2M+1.4%	$162.0M+10.4%	$146.7M-7.0%	$157.8M
Goodwill	$63.8M-2.2%	$65.2M+5.7%	$61.7M+0.1%	$61.7M-1.7%	$62.7M-0.8%	$63.2M	$0	N/A
Total Liabilities	$472.8M-0.7%	$475.9M+1.2%	$470.1M-5.2%	$496.1M-7.2%	$534.8M-7.0%	$575.2M+40.8%	$408.4M-0.8%	$411.8M
Current Liabilities	$209.6M+3.6%	$202.3M+3.9%	$194.7M-3.6%	$201.9M+4.0%	$194.1M+0.5%	$193.1M-5.5%	$204.3M-1.9%	$208.3M
Long-Term Debt	$138.5M-12.1%	$157.7M-7.0%	$169.5M-9.1%	$186.5M-24.3%	$246.3M-12.7%	$282.3M+117.9%	$129.6M+0.8%	$128.5M
Total Equity	$297.3M-11.0%	$334.2M+4.4%	$320.0M0.0%	$319.9M-27.6%	$442.0M-0.9%	$446.2M+8.1%	$412.6M-1.1%	$417.1M
Retained Earnings	-$846.5M-2.5%	-$826.0M+0.9%	-$833.7M+0.1%	-$834.8M-16.5%	-$716.5M-0.9%	-$709.8M-1.5%	-$699.5M-2.5%	-$682.7M

FET Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$92.2M+1026.6%	$8.2M+148.0%	-$17.1M-8.1%	-$15.8M-506.3%	$3.9M-96.3%	$104.1M
Capital Expenditures	$8.1M+2.5%	$7.9M+6.0%	$7.5M+212.3%	$2.4M+6.8%	$2.2M-85.1%	$15.1M
Free Cash Flow	$84.0M+35065.7%	$239K+101.0%	-$24.5M-35.1%	-$18.2M-1210.2%	$1.6M-98.2%	$89.0M
Investing Cash Flow	-$137.5M-1992.3%	-$6.6M-124.2%	$27.1M+153.7%	$10.7M-90.1%	$108.3M+284.8%	$28.1M
Financing Cash Flow	$45.2M+696.7%	-$7.6M-49.4%	-$5.1M+93.3%	-$76.2M-82.6%	-$41.8M+65.8%	-$122.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$6.0M+56.7%	$3.8M+170.6%	$1.4M+625.1%	$195K-82.2%	$1.1M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$22.9M+45.0%	$15.8M+69.1%	$9.3M-75.8%	$38.5M+67.1%	$23.1M+358.9%	$5.0M-55.4%	$11.3M-57.4%	$26.4M
Capital Expenditures	$1.4M+46.4%	$951K-54.9%	$2.1M-12.4%	$2.4M+60.9%	$1.5M-48.5%	$2.9M+18.9%	$2.4M-9.0%	$2.7M
Free Cash Flow	$21.5M+44.9%	$14.8M+105.4%	$7.2M-80.0%	$36.1M+67.5%	$21.6M+920.0%	$2.1M-76.0%	$8.8M-62.9%	$23.7M
Investing Cash Flow	$5.3M-26.1%	$7.1M+439.7%	-$2.1M-111.4%	$18.4M+1209.3%	-$1.7M+98.9%	-$152.8M-6222.7%	-$2.4M+1.5%	-$2.5M
Financing Cash Flow	-$35.1M-115.4%	-$16.3M+22.5%	-$21.0M+52.4%	-$44.2M-19.6%	-$36.9M-124.3%	$151.8M+22561.7%	-$676K+93.9%	-$11.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$14.8M+244.9%	$4.3M+115.2%	$2.0M	$0	$0	$0-100.0%	$2.5M	$0

FET Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	31.2%+3.6pp	27.6%+0.7pp	26.9%+4.1pp	22.8%+24.9pp	-2.1%-27.8pp	25.6%
Operating Margin	-10.6%-13.4pp	2.8%+0.3pp	2.5%+10.7pp	-8.2%+37.0pp	-45.2%+10.8pp	-56.0%
Net Margin	-16.6%-14.0pp	-2.5%-3.1pp	0.5%+15.8pp	-15.3%+3.6pp	-18.9%+40.4pp	-59.3%
Return on Equity	N/A	N/A	1.2%	N/A	N/A	N/A
Return on Assets	-16.6%-14.3pp	-2.3%-2.7pp	0.4%+10.9pp	-10.4%+0.4pp	-10.9%+38.0pp	-48.9%
Current Ratio	2.46-0.1	2.59+0.2	2.44-0.1	2.54-1.4	3.92+0.5	3.38
Debt-to-Equity	0.58+0.3	0.31-0.5	0.78+0.1	0.71-0.0	0.72-0.1	0.82
FCF Margin	10.3%+10.3pp	0.0%+3.5pp	-3.5%-0.2pp	-3.4%-3.7pp	0.3%-9.0pp	9.3%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	20.5%-9.2pp	29.7%-0.5pp	30.2%-0.9pp	31.1%+0.3pp	30.7%-0.8pp	31.5%+4.6pp	26.9%-1.6pp	28.5%
Operating Margin	-3.1%-10.5pp	7.3%+2.8pp	4.6%+57.7pp	-53.1%-57.0pp	3.9%+2.3pp	1.6%+0.6pp	1.0%-2.2pp	3.2%
Net Margin	-10.5%-14.3pp	3.9%+3.3pp	0.6%+52.1pp	-51.5%-48.2pp	-3.3%+1.8pp	-5.1%+4.0pp	-9.1%-13.5pp	4.5%
Return on Equity	N/A	2.3%+1.9pp	0.4%	N/A	N/A	N/A	N/A	1.9%
Return on Assets	-2.7%-3.6pp	0.9%+0.8pp	0.1%+12.8pp	-12.7%-12.0pp	-0.7%+0.3pp	-1.0%+1.0pp	-2.0%-3.0pp	1.0%
Current Ratio	2.19-0.2	2.41-0.0	2.460.0	2.46-0.2	2.69-0.1	2.83+0.2	2.59+0.0	2.55
Debt-to-Equity	0.470.0	0.47-0.1	0.53-0.1	0.58+0.0	0.56-0.1	0.63+0.3	0.310.0	0.31
FCF Margin	10.9%+3.5pp	7.4%+3.7pp	3.7%-14.2pp	18.0%+7.5pp	10.5%+9.5pp	1.0%-3.7pp	4.8%-8.5pp	13.2%

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Frequently Asked Questions

What is Forum Energy Technologies Inc's annual revenue?

Forum Energy Technologies Inc (FET) reported $816.4M in total revenue for fiscal year 2024. This represents a 10.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Forum Energy Technologies Inc's revenue growing?

Forum Energy Technologies Inc (FET) revenue grew by 10.5% year-over-year, from $738.9M to $816.4M in fiscal year 2024.

Is Forum Energy Technologies Inc profitable?

No, Forum Energy Technologies Inc (FET) reported a net income of -$135.3M in fiscal year 2024, with a net profit margin of -16.6%.

What is Forum Energy Technologies Inc's earnings per share (EPS)?

Forum Energy Technologies Inc (FET) reported diluted earnings per share of $-11.00 for fiscal year 2024. This represents a -494.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Forum Energy Technologies Inc's EBITDA?

Forum Energy Technologies Inc (FET) had EBITDA of -$33.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Forum Energy Technologies Inc have?

As of fiscal year 2024, Forum Energy Technologies Inc (FET) had $44.7M in cash and equivalents against $186.5M in long-term debt.

What is Forum Energy Technologies Inc's gross margin?

Forum Energy Technologies Inc (FET) had a gross margin of 31.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Forum Energy Technologies Inc's operating margin?

Forum Energy Technologies Inc (FET) had an operating margin of -10.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Forum Energy Technologies Inc's net profit margin?

Forum Energy Technologies Inc (FET) had a net profit margin of -16.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Forum Energy Technologies Inc's free cash flow?

Forum Energy Technologies Inc (FET) generated $84.0M in free cash flow during fiscal year 2024. This represents a 35065.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Forum Energy Technologies Inc's operating cash flow?

Forum Energy Technologies Inc (FET) generated $92.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Forum Energy Technologies Inc's total assets?

Forum Energy Technologies Inc (FET) had $816.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Forum Energy Technologies Inc's capital expenditures?

Forum Energy Technologies Inc (FET) invested $8.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Forum Energy Technologies Inc's current ratio?

Forum Energy Technologies Inc (FET) had a current ratio of 2.46 as of fiscal year 2024, which is generally considered healthy.

What is Forum Energy Technologies Inc's debt-to-equity ratio?

Forum Energy Technologies Inc (FET) had a debt-to-equity ratio of 0.58 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Forum Energy Technologies Inc's return on assets (ROA)?

Forum Energy Technologies Inc (FET) had a return on assets of -16.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Forum Energy Technologies Inc's Piotroski F-Score?

Forum Energy Technologies Inc (FET) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Forum Energy Technologies Inc's earnings high quality?

Forum Energy Technologies Inc (FET) has an earnings quality ratio of -0.68x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Forum Energy Technologies Inc?

Forum Energy Technologies Inc (FET) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.