Forum Energy Technologies Inc (FET) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed May 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FET SEC filings page.
Forum Energy Technologies Inc (FET) reported $806.9M in revenue over the twelve months to Mar 31, 2026, down 0.1% from the prior twelve months. This page shows its 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).
Cash generation and cost restructuring restored operating profitability even as 2025 revenue and gross margin moved backward.
Cash conversion diverged from accounting earnings: operating cash flow reached$70.4M in FY2025 even as net income was-$9.7M , making reported earnings a poor shorthand for cash produced. Free cash flow was$64.4M , and simultaneous reductions in inventory and receivables point to working-capital release as part of that cash outcome.
The operating rebound was not volume-led: revenue declined in FY2025 while gross margin compressed from
Long-term debt fell from
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Forum Energy Technologies Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Forum Energy Technologies Inc has an operating margin of 3.8%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 15/100, suggesting thin profitability after operating expenses. This is up from -10.6% the prior year.
Forum Energy Technologies Inc's revenue declined 3.1% year-over-year, from $816.4M to $791.5M. This contraction results in a growth score of 56/100.
Forum Energy Technologies Inc has a moderate D/E ratio of 0.46. This balance of debt and equity financing earns a leverage score of 36/100.
With a current ratio of 2.17, Forum Energy Technologies Inc holds $2.17 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 75/100.
Forum Energy Technologies Inc has a free cash flow margin of 8.1%, earning a moderate score of 60/100. The company generates positive cash flow after capital investments, but with room for improvement.
Forum Energy Technologies Inc posts a -3.3% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 14/100. This is up from -42.3% the prior year.
Forum Energy Technologies Inc scores 1.22, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($939.3M) relative to total liabilities ($461.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Forum Energy Technologies Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Forum Energy Technologies Inc reported a net loss of $9.7M while generating $70.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Forum Energy Technologies Inc generated $208.7M in revenue in Q1 2026. This represents an increase of 8.0% from the same quarter a year earlier. Against the prior quarter it is up 3.2%.
Forum Energy Technologies Inc's EBITDA was $18.8M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.8% from the same quarter a year earlier. Against the prior quarter it is down 8.7%.
Forum Energy Technologies Inc reported $4.5M in net income in Q1 2026. This represents an increase of 300.4% from the same quarter a year earlier. Against the prior quarter it is up 116.8%.
Forum Energy Technologies Inc earned $0.39 per diluted share (EPS) in Q1 2026. This represents an increase of 333.3% from the same quarter a year earlier. Against the prior quarter it is up 143.8%.
Cash & Balance Sheet
Forum Energy Technologies Inc generated $1.4M in free cash flow in Q1 2026, representing cash available after capex. This represents a decrease of 81.0% from the same quarter a year earlier. Against the prior quarter it is down 93.4%.
Forum Energy Technologies Inc held $37.5M in cash against $152.3M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Forum Energy Technologies Inc's gross margin was 29.2% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.0 percentage points.
Forum Energy Technologies Inc's operating margin was 5.3% in Q1 2026, reflecting core business profitability. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.0 percentage points.
Forum Energy Technologies Inc's net profit margin was 2.1% in Q1 2026, showing the share of revenue converted to profit. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.1 percentage points.
Forum Energy Technologies Inc's ROE was 1.6% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Capital Allocation
Forum Energy Technologies Inc spent $4.6M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 128.8% from the same quarter a year earlier. Against the prior quarter it is down 66.1%.
Forum Energy Technologies Inc invested $256K in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 87.9% from the same quarter a year earlier. Against the prior quarter it is down 83.6%.
Not reported for Q1 2026.
FET Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $208.7M+8.0% | $202.2M+0.6% | $196.2M-5.6% | $199.8M-2.7% | $193.3M-4.5% | $201.0M+8.5% | $207.8M+15.9% | $205.2M+10.7% |
| Cost of Revenue | $147.7M+9.5% | $141.1M+1.9% | $156.0M+9.8% | $140.4M-1.2% | $134.9M-2.7% | $138.6M+2.3% | $142.1M+10.8% | $142.1M+6.0% |
| Gross Profit | $61.0M+4.5% | $61.1M-2.2% | $40.2M-38.8% | $59.4M-5.9% | $58.4M-8.5% | $62.5M+25.6% | $65.7M+28.8% | $63.1M+22.9% |
| SG&A Expenses | $50.0M+1.3% | $48.9M-10.5% | $50.4M-10.4% | $51.2M-4.7% | $49.4M-9.7% | $54.6M+21.4% | $56.3M+23.8% | $53.7M+21.0% |
| Operating Income | $11.0M+25.0% | $12.8M+111.9% | -$6.1M-168.5% | $14.7M+85.1% | $8.8M+175.1% | -$106.8M-6077.4% | $8.9M+57.2% | $7.9M+23.8% |
| EBITDA | $18.8M+5.8% | $20.6M+121.8% | $1.8M-92.2% | $23.8M+8.2% | $17.8M+4.3% | -$94.7M-999.7% | $22.6M+54.9% | $22.0M+47.5% |
| Income Tax | $2.9M-23.1% | $6.2M+265.4% | $10.1M+118.5% | $6.2M+148.6% | $3.8M+6.8% | -$3.7M-176.2% | $4.6M+212.2% | $2.5M+34.4% |
| Net Income | $4.5M+300.4% | $2.1M+102.0% | -$20.6M-38.7% | $7.7M+215.0% | $1.1M+110.9% | -$103.5M-516.8% | -$14.8M-285.9% | -$6.7M-1.8% |
| EPS (Basic) | $0.40+344.4% | $0.16+101.9% | -$1.76-46.7% | $0.62+214.8% | $0.09+110.6% | -$8.41-412.8% | -$1.20-253.8% | -$0.54+15.6% |
| EPS (Diluted) | $0.39+333.3% | $0.16+101.9% | -$1.76-46.7% | $0.61+213.0% | $0.09+110.6% | -$8.41-412.8% | -$1.20-255.8% | -$0.54+15.6% |
| Diluted Shares (Avg) | 12M-7.4% | N/A | 12M-5.3% | 13M+1.8% | 13M+3.0% | N/A | 12M+18.6% | 12M+20.8% |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
FET Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $763.1M-3.4% | $752.5M-7.8% | $770.1M-20.9% | $810.1M-17.1% | $790.1M-22.6% | $816.0M-0.6% | $973.7M+17.5% | $976.8M+15.8% |
| Current Assets | $464.3M-3.0% | $448.9M-9.4% | $459.3M-12.3% | $487.7M-6.4% | $478.6M-12.5% | $495.6M-6.4% | $523.7M-1.4% | $521.3M-3.0% |
| Cash & Equivalents | $37.5M+20.4% | $34.7M-22.4% | $31.7M-4.9% | $39.0M+22.4% | $31.1M-35.8% | $44.7M-3.3% | $33.3M-10.3% | $31.8M+28.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $236.4M-10.3% | $239.4M-9.8% | $248.3M-13.5% | $260.0M-10.7% | $263.6M-13.0% | $265.5M-11.4% | $286.9M-5.1% | $291.1M-3.8% |
| Accounts Receivable | $155.5M+1.3% | $142.4M-7.5% | $146.9M-9.9% | $155.0M-5.6% | $153.5M-5.2% | $153.9M+4.9% | $163.1M+3.3% | $164.2M-2.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $63.8M+3.4% | $64.7M+4.9% | $63.8M-2.8% | $65.2M+4.0% | $61.7M-2.4% | $61.7M | $65.6M | $62.7M |
| Total Liabilities | $482.4M+2.6% | $461.3M-7.0% | $472.8M-10.8% | $475.9M-11.0% | $470.1M-18.3% | $496.1M+21.5% | $530.2M+28.8% | $534.8M+26.0% |
| Current Liabilities | $208.6M+7.2% | $206.5M+2.3% | $209.6M-22.7% | $202.3M+4.2% | $194.7M+0.8% | $201.9M-1.2% | $271.0M+30.1% | $194.1M-7.7% |
| Non-Current Liabilities | $273.8M-0.6% | $254.8M-13.4% | $263.2M+1.5% | $273.6M-19.7% | $275.4M-27.9% | $294.2M+44.2% | $259.2M+27.4% | $340.7M+59.0% |
| Long-Term Debt | $152.3M-10.2% | $134.5M-27.9% | $138.5M-14.6% | $157.7M-36.0% | $169.5M-39.9% | $186.5M+44.0% | $162.2M+26.2% | $246.3M+78.7% |
| Total Equity | $280.7M-12.3% | $291.1M-9.0% | $297.3M-33.0% | $334.2M-24.4% | $320.0M-28.3% | $319.9M-22.5% | $443.5M+6.3% | $442.0M+5.4% |
| Retained Earnings | -$840.0M-0.8% | -$844.5M-1.2% | -$846.5M-15.8% | -$826.0M-15.3% | -$833.7M-17.5% | -$834.8M-19.3% | -$731.3M-7.1% | -$716.5M-3.7% |
FET Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.6M-82.6% | $22.4M-41.7% | $22.9M-10.7% | $15.8M-31.6% | $9.3M+85.7% | $38.5M+242.1% | $25.6M-3.1% | $23.1M+462.3% |
| Depreciation & Amortization | $7.8M-13.1% | $7.8M-35.5% | $7.9M-42.6% | $9.1M-35.3% | $9.0M-35.1% | $12.2M+39.2% | $13.7M+53.4% | $14.0M+65.4% |
| Stock-Based Compensation | $2.5M+38.6% | N/A | N/A | N/A | $1.8M+15.6% | N/A | N/A | N/A |
| Capital Expenditures | $256K-87.9% | $1.6M-35.2% | $1.4M+4.9% | $951K-36.5% | $2.1M-27.5% | $2.4M-1.5% | $1.3M-50.6% | $1.5M-13.2% |
| Free Cash Flow | $1.4M-81.0% | $20.9M-42.2% | $21.5M-11.5% | $14.8M-31.2% | $7.2M+241.5% | $36.1M+309.7% | $24.3M+2.3% | $21.6M+366.4% |
| Investing Cash Flow | -$253K+87.9% | -$718K-103.9% | $5.3M+467.6% | $7.1M+529.7% | -$2.1M+98.6% | $18.4M+860.5% | -$1.4M+41.7% | -$1.7M-87.4% |
| Financing Cash Flow | $1.9M+108.8% | -$19.2M+56.6% | -$35.1M-37.7% | -$16.3M+55.9% | -$21.0M-113.8% | -$44.2M-6436.2% | -$25.5M-131.0% | -$36.9M-142.4% |
| Share Buybacks | $4.6M+128.8% | $13.5M | $14.8M | $4.3M | $2.0M | $0-100.0% | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
FET Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.2%-1.0pp | 30.2%-0.9pp | 20.5%-11.1pp | 29.7%-1.0pp | 30.2%-1.3pp | 31.1%+4.2pp | 31.6%+3.2pp | 30.7%+3.1pp |
| Operating Margin | 5.3%+0.7pp | 6.3%+59.5pp | -3.1%-7.4pp | 7.3%+3.5pp | 4.6%+3.0pp | -53.1%-54.1pp | 4.3%+1.1pp | 3.9%+0.4pp |
| Net Margin | 2.1%+1.6pp | 1.0%+52.5pp | -10.5%-3.3pp | 3.9%+7.1pp | 0.6%+5.7pp | -51.5%-42.4pp | -7.1%-11.6pp | -3.3%+0.3pp |
| Return on Equity | 1.6%+1.3pp | 0.7%+33.1pp | -6.9%-3.6pp | 2.3%+3.8pp | 0.4%+2.7pp | -32.4%-28.3pp | -3.3%-5.3pp | -1.5%+0.1pp |
| Return on Assets | 0.6%+0.4pp | 0.3%+13.0pp | -2.7%-1.2pp | 0.9%+1.6pp | 0.1%+1.1pp | -12.7%-10.6pp | -1.5%-2.5pp | -0.7%+0.1pp |
| Current Ratio | 2.23-0.2x | 2.17-0.3x | 2.19+0.3x | 2.41-0.3x | 2.46-0.4x | 2.46-0.1x | 1.93-0.6x | 2.69+0.1x |
| Debt-to-Equity | 0.540.0x | 0.46-0.1x | 0.47+0.1x | 0.47-0.1x | 0.53-0.1x | 0.58+0.3x | 0.37+0.1x | 0.56+0.2x |
| Asset Turnover | 0.270.0x | 0.270.0x | 0.250.0x | 0.250.0x | 0.240.0x | 0.250.0x | 0.210.0x | 0.210.0x |
| FCF Margin | 0.7%-3.1pp | 10.3%-7.6pp | 10.9%-0.7pp | 7.4%-3.1pp | 3.7%+2.7pp | 18.0%+13.2pp | 11.7%-1.6pp | 10.5%+14.9pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Forum Energy Technologies Inc FET | FY2025 | $791.5M | -$9.7M | -1.2% | $939.3M | 43/100 |
| Oil States Intl OIS | FY2025 | $669.0M | -$109.4M | -16.4% | $540.5M | 44/100 |
| Natural Gas Srv NGS | FY2025 | $172.3M | $19.9M | 11.6% | $455.3M | 49/100 |
| Flotek Inds Inc Del FTK | FY2025 | $237.3M | $30.5M | 12.9% | $846.5M | 46/100 |
| Ranger Energy Se RNGR | FY2025 | $546.9M | $12.3M | 2.3% | $400.2M | 47/100 |
Where Forum Energy Technologies Inc Ranks
Frequently Asked Questions
What is Forum Energy Technologies Inc's annual revenue?
Forum Energy Technologies Inc (FET) reported $791.5M in total revenue for fiscal year 2025. This represents a -3.1% 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 declined by 3.1% year-over-year, from $816.4M to $791.5M in fiscal year 2025.
Is Forum Energy Technologies Inc profitable?
No, Forum Energy Technologies Inc (FET) reported a net income of -$9.7M in fiscal year 2025, with a net profit margin of -1.2%.
What is Forum Energy Technologies Inc's EBITDA?
Forum Energy Technologies Inc (FET) had EBITDA of $63.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Forum Energy Technologies Inc have?
As of fiscal year 2025, Forum Energy Technologies Inc (FET) had $34.7M in cash and equivalents against $134.5M in long-term debt.
What is Forum Energy Technologies Inc's gross margin?
Forum Energy Technologies Inc (FET) had a gross margin of 27.7% in fiscal year 2025, 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 3.8% in fiscal year 2025, 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 -1.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Forum Energy Technologies Inc's return on equity (ROE)?
Forum Energy Technologies Inc (FET) has a return on equity of -3.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Forum Energy Technologies Inc's free cash flow?
Forum Energy Technologies Inc (FET) generated $64.4M in free cash flow during fiscal year 2025. This represents a -23.4% 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 $70.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Forum Energy Technologies Inc's total assets?
Forum Energy Technologies Inc (FET) had $752.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Forum Energy Technologies Inc's capital expenditures?
Forum Energy Technologies Inc (FET) invested $6.0M in capital expenditures during fiscal year 2025, 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 2.17 as of fiscal year 2025, 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 0.46 as of fiscal year 2025, 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 -1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Forum Energy Technologies Inc's P/E ratio?
Forum Energy Technologies Inc (FET) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $939.3M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Forum Energy Technologies Inc's price-to-sales ratio?
Forum Energy Technologies Inc (FET) trades at 1.2x sales, its market capitalization divided by revenue of $806.9M revenue, trailing 12 months to March 31, 2026. The market capitalization is $939.3M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Forum Energy Technologies Inc's Altman Z-Score?
Forum Energy Technologies Inc (FET) has an Altman Z-Score of 1.22, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Forum Energy Technologies Inc's Piotroski F-Score?
Forum Energy Technologies Inc (FET) has a Piotroski F-Score of 6 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 to 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) reported a net loss of $9.7M while generating $70.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 43 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.