This page shows Forum Energy Technologies Inc (FET) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Earnings look noisier than cash generation, with working-capital release and leaner overhead driving the business reset.
Across FY2024-FY2025, the company produced$162.6M of operating cash flow while reporting a combined net loss of-$145.0M . Because FY2025 inventory and receivables both shrank as revenue slipped, recent cash generation looks driven more by working-capital unwind and non-cash charges than by fully settled earnings power.
FY2025 returned to operating profit even though revenue eased to
The balance sheet is being run more defensively: long-term debt fell to
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 scores 0.74, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($571.8M) 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 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Forum Energy Technologies Inc generates $-7.29 in operating cash flow ($70.4M OCF vs -$9.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Forum Energy Technologies Inc generated $791.5M in revenue in fiscal year 2025. This represents a decrease of 3.1% from the prior year.
Forum Energy Technologies Inc's EBITDA was $63.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 293.3% from the prior year.
Forum Energy Technologies Inc reported -$9.7M in net income in fiscal year 2025. This represents an increase of 92.9% from the prior year.
Forum Energy Technologies Inc earned $-0.81 per diluted share (EPS) in fiscal year 2025. This represents an increase of 92.6% from the prior year.
Cash & Balance Sheet
Forum Energy Technologies Inc generated $64.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 23.4% from the prior year.
Forum Energy Technologies Inc held $34.7M in cash against $134.5M in long-term debt as of fiscal year 2025.
Margins & Returns
Forum Energy Technologies Inc's gross margin was 27.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.6 percentage points from the prior year.
Forum Energy Technologies Inc's operating margin was 3.8% in fiscal year 2025, reflecting core business profitability. This is up 14.4 percentage points from the prior year.
Forum Energy Technologies Inc's net profit margin was -1.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.4 percentage points from the prior year.
Forum Energy Technologies Inc's ROE was -3.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 39.0 percentage points from the prior year.
Capital Allocation
Forum Energy Technologies Inc spent $34.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Forum Energy Technologies Inc invested $6.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 26.2% from the prior year.
FET Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $208.7M+3.2% | $202.2M+3.0% | $196.2M-1.8% | $199.8M+3.4% | $193.3M-3.8% | $201.0M-3.3% | $207.8M+1.3% | $205.2M |
| Cost of Revenue | $147.7M+4.7% | $141.1M-9.5% | $156.0M+11.1% | $140.4M+4.1% | $134.9M-2.6% | $138.6M-2.5% | $142.1M0.0% | $142.1M |
| Gross Profit | $61.0M-0.1% | $61.1M+51.8% | $40.2M-32.2% | $59.4M+1.7% | $58.4M-6.6% | $62.5M-5.0% | $65.7M+4.2% | $63.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $50.0M+2.3% | $48.9M-3.1% | $50.4M-1.4% | $51.2M+3.6% | $49.4M-9.6% | $54.6M-3.0% | $56.3M+4.9% | $53.7M |
| Operating Income | $11.0M-13.8% | $12.8M+309.0% | -$6.1M-141.6% | $14.7M+66.8% | $8.8M+108.2% | -$106.8M-1298.0% | $8.9M+12.4% | $7.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.9M-53.2% | $6.2M-38.6% | $10.1M+62.0% | $6.2M+65.1% | $3.8M+200.7% | -$3.7M-181.1% | $4.6M+84.3% | $2.5M |
| Net Income | $4.5M+116.8% | $2.1M+110.1% | -$20.6M-366.9% | $7.7M+586.3% | $1.1M+101.1% | -$103.5M-598.6% | -$14.8M-121.3% | -$6.7M |
| EPS (Diluted) | $0.39 | N/A | $-1.76-388.5% | $0.61+577.8% | $0.09 | N/A | $-1.20-122.2% | $-0.54 |
FET Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $763.1M+1.4% | $752.5M-2.3% | $770.1M-4.9% | $810.1M+2.5% | $790.1M-3.2% | $816.0M-16.2% | $973.7M-0.3% | $976.8M |
| Current Assets | $464.3M+3.4% | $448.9M-2.3% | $459.3M-5.8% | $487.7M+1.9% | $478.6M-3.4% | $495.6M-5.4% | $523.7M+0.5% | $521.3M |
| Cash & Equivalents | $37.5M+8.2% | $34.7M+9.4% | $31.7M-18.7% | $39.0M+25.1% | $31.1M-30.3% | $44.7M+34.1% | $33.3M+4.7% | $31.8M |
| Inventory | $236.4M-1.3% | $239.4M-3.6% | $248.3M-4.5% | $260.0M-1.4% | $263.6M-0.7% | $265.5M-7.5% | $286.9M-1.4% | $291.1M |
| Accounts Receivable | $155.5M+9.2% | $142.4M-3.1% | $146.9M-5.2% | $155.0M+1.0% | $153.5M-0.3% | $153.9M-5.6% | $163.1M-0.7% | $164.2M |
| Goodwill | $63.8M-1.4% | $64.7M+1.4% | $63.8M-2.2% | $65.2M+5.7% | $61.7M+0.1% | $61.7M-6.0% | $65.6M+4.7% | $62.7M |
| Total Liabilities | $482.4M+4.6% | $461.3M-2.4% | $472.8M-0.7% | $475.9M+1.2% | $470.1M-5.2% | $496.1M-6.4% | $530.2M-0.9% | $534.8M |
| Current Liabilities | $208.6M+1.0% | $206.5M-1.5% | $209.6M+3.6% | $202.3M+3.9% | $194.7M-3.6% | $201.9M-25.5% | $271.0M+39.6% | $194.1M |
| Long-Term Debt | $152.3M+13.2% | $134.5M-2.9% | $138.5M-12.1% | $157.7M-7.0% | $169.5M-9.1% | $186.5M+15.0% | $162.2M-34.2% | $246.3M |
| Total Equity | $280.7M-3.6% | $291.1M-2.1% | $297.3M-11.0% | $334.2M+4.4% | $320.0M0.0% | $319.9M-27.9% | $443.5M+0.3% | $442.0M |
| Retained Earnings | -$840.0M+0.5% | -$844.5M+0.2% | -$846.5M-2.5% | -$826.0M+0.9% | -$833.7M+0.1% | -$834.8M-14.2% | -$731.3M-2.1% | -$716.5M |
FET Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.6M-92.7% | $22.4M-1.9% | $22.9M+45.0% | $15.8M+69.1% | $9.3M-75.8% | $38.5M+50.4% | $25.6M+11.1% | $23.1M |
| Capital Expenditures | $256K-83.6% | $1.6M+12.2% | $1.4M+46.4% | $951K-54.9% | $2.1M-12.4% | $2.4M+81.6% | $1.3M-11.4% | $1.5M |
| Free Cash Flow | $1.4M-93.4% | $20.9M-2.8% | $21.5M+44.9% | $14.8M+105.4% | $7.2M-80.0% | $36.1M+48.7% | $24.3M+12.6% | $21.6M |
| Investing Cash Flow | -$253K+64.8% | -$718K-113.7% | $5.3M-26.1% | $7.1M+439.7% | -$2.1M-111.4% | $18.4M+1384.5% | -$1.4M+13.6% | -$1.7M |
| Financing Cash Flow | $1.9M+109.7% | -$19.2M+45.3% | -$35.1M-115.4% | -$16.3M+22.5% | -$21.0M+52.4% | -$44.2M-73.4% | -$25.5M+31.0% | -$36.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $4.6M-66.1% | $13.5M-9.0% | $14.8M+244.9% | $4.3M+115.2% | $2.0M | $0 | $0 | $0 |
FET Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.2%-1.0pp | 30.2%+9.7pp | 20.5%-9.2pp | 29.7%-0.5pp | 30.2%-0.9pp | 31.1%-0.6pp | 31.6%+0.9pp | 30.7% |
| Operating Margin | 5.3%-1.0pp | 6.3%+9.4pp | -3.1%-10.5pp | 7.3%+2.8pp | 4.6%+57.7pp | -53.1%-57.4pp | 4.3%+0.4pp | 3.9% |
| Net Margin | 2.1%+1.1pp | 1.0%+11.5pp | -10.5%-14.3pp | 3.9%+3.3pp | 0.6%+52.1pp | -51.5%-44.4pp | -7.1%-3.9pp | -3.3% |
| Return on Equity | 1.6%+0.9pp | 0.7%+7.6pp | -6.9%-9.2pp | 2.3%+1.9pp | 0.4%+32.7pp | -32.4%-29.0pp | -3.3%-1.8pp | -1.5% |
| Return on Assets | 0.6%+0.3pp | 0.3%+3.0pp | -2.7%-3.6pp | 0.9%+0.8pp | 0.1%+12.8pp | -12.7%-11.2pp | -1.5%-0.8pp | -0.7% |
| Current Ratio | 2.23+0.1 | 2.17-0.0 | 2.19-0.2 | 2.41-0.0 | 2.460.0 | 2.46+0.5 | 1.93-0.8 | 2.69 |
| Debt-to-Equity | 0.54+0.1 | 0.460.0 | 0.470.0 | 0.47-0.1 | 0.53-0.1 | 0.58+0.2 | 0.37-0.2 | 0.56 |
| FCF Margin | 0.7%-9.7pp | 10.3%-0.6pp | 10.9%+3.5pp | 7.4%+3.7pp | 3.7%-14.2pp | 18.0%+6.3pp | 11.7%+1.2pp | 10.5% |
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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 Altman Z-Score?
Forum Energy Technologies Inc (FET) has an Altman Z-Score of 0.74, 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 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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) has an earnings quality ratio of -7.29x, 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 41 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.