Forum Energy Tech (FET) AI Stock Analysis

• Market Cap: $413.93M
• Dividend Yield: N/A
• Average Volume (3M): 105.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.02
• Revenue Growth: -1.29%
• EPS Growth: -123.25%
• Country: US
• Employees: 1,800
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 0.27
• Shares Outstanding: 11,377,958
• 10 Day Avg. Volume: 156,185
• 30 Day Avg. Volume: 105,167
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.60
• Price to Sales (P/S): 0.23
• P/FCF Ratio: 2.27
• Enterprise Value/Market Cap: 1.22
• Enterprise Value/Revenue: 0.64
• Enterprise Value/Gross Profit: 2.29
• Enterprise Value/Ebitda: -10.03
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $34.00 ▲(11.55% Upside)

Forum Energy Tech's overall stock score is driven by strong technical momentum and positive earnings call guidance, despite significant financial performance challenges and poor valuation metrics. The company's strategic initiatives and backlog growth provide optimism, but profitability and valuation concerns weigh heavily on the score.

Positive Factors

Backlog Growth

Strong backlog growth indicates robust demand for FET's products, ensuring future revenue streams and supporting long-term business stability.

Free Cash Flow and Share Repurchases

Consistent free cash flow generation and share repurchases reflect financial health and management's commitment to returning value to shareholders.

Cost Savings and Efficiency

Efficiency improvements and cost savings enhance profitability and operational resilience, positioning FET for sustainable growth.

Negative Factors

Decline in U.S. Revenue

A decline in U.S. revenue highlights vulnerability to domestic market conditions, potentially impacting overall revenue growth and profitability.

Tariff Volatility Impact

Tariff volatility can increase costs and disrupt supply chains, affecting margins and operational efficiency in the long term.

Profitability Challenges

Negative profitability metrics suggest ongoing operational inefficiencies, which could hinder financial performance and strategic initiatives.

Forum Energy Tech Business Overview & Revenue Model

Company Description

Forum Energy Technologies, Inc. (FET) is a leading global provider of equipment and services to the energy and industrial sectors. The company operates through three primary segments: Subsea Technologies, Drilling Technologies, and Production Technologies. FET's core products and services include subsea production systems, drilling equipment, and production optimization solutions, catering to the needs of offshore and onshore oil and gas operations.

How the Company Makes Money

Forum Energy Technologies generates revenue through the sale of its specialized equipment and technology solutions to energy companies globally. Key revenue streams include the sale of subsea systems, drilling equipment, and various production technologies, which are often complemented by aftermarket services such as maintenance and support. The company also benefits from long-term contracts and partnerships with major oil and gas operators, providing a stable source of recurring income. Additionally, FET leverages its expertise in engineering and technology to offer consulting services, further diversifying its revenue portfolio. Market demand for energy, particularly in offshore drilling and production, significantly influences its earnings, making the company sensitive to fluctuations in oil prices and energy sector investments.

Forum Energy Tech Financial Statement Overview

Summary

Forum Energy Tech faces significant challenges with profitability and revenue growth, as reflected in its income statement. The balance sheet shows improved leverage but continues to struggle with negative returns. Cash flow generation is relatively stable but declining, indicating potential liquidity concerns.

Income Statement

Forum Energy Tech's income statement reveals challenges with profitability, as evidenced by negative net profit margins and declining revenue growth. The TTM data shows a gross profit margin of 27.89%, but the net profit margin is -14.58%, indicating significant losses. Revenue growth has been negative, suggesting a contraction in sales. The EBIT and EBITDA margins are also negative, highlighting operational inefficiencies.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio of 0.29 in the TTM period, which is an improvement from previous years, indicating better leverage management. However, the return on equity remains negative at -36.25%, reflecting ongoing profitability issues. The equity ratio is relatively stable, suggesting a solid asset base supported by equity.

Cash Flow

Cash flow analysis indicates a decline in free cash flow growth by -10.35% in the TTM period. The operating cash flow to net income ratio is 0.41, showing some ability to generate cash from operations despite net losses. The free cash flow to net income ratio is close to 1, suggesting that cash flow generation is relatively aligned with net income, albeit negative.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	790.27M	816.42M	738.86M	699.91M	541.10M	512.50M
Gross Profit	220.40M	255.03M	204.15M	188.53M	123.30M	-11.00M
EBITDA	-50.39M	-43.22M	45.21M	78.85M	-7.82M	-28.50M
Net Income	-115.23M	-135.33M	-18.88M	3.71M	-82.70M	-96.90M
Balance Sheet
Total Assets	770.09M	815.95M	821.06M	834.76M	791.34M	889.93M
Cash, Cash Equivalents and Short-Term Investments	31.69M	44.66M	46.16M	51.03M	46.86M	128.62M
Total Debt	225.17M	272.59M	201.40M	304.54M	267.98M	339.23M
Total Liabilities	472.78M	496.05M	408.43M	527.72M	462.21M	483.69M
Stockholders Equity	297.31M	319.90M	412.63M	307.04M	329.13M	406.24M
Cash Flow
Free Cash Flow	81.03M	84.05M	239.00K	-24.55M	-18.20M	1.64M
Operating Cash Flow	86.51M	92.19M	8.18M	-17.05M	-15.80M	3.88M
Investing Cash Flow	28.67M	-137.53M	-6.57M	27.14M	10.70M	108.25M
Financing Cash Flow	-116.56M	45.24M	-7.58M	-5.08M	-76.20M	-41.77M

Forum Energy Tech Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 30.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FET, the sentiment is Positive. The current price of 30.48 is below the 20-day moving average (MA) of 34.16, below the 50-day MA of 31.33, and above the 200-day MA of 22.89, indicating a bullish trend. The MACD of 1.51 indicates Negative momentum. The RSI at 65.43 is Neutral, neither overbought nor oversold. The STOCH value of 79.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FET.

Forum Energy Tech Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NGS	78 Outperform	$410.75M	22.39	7.15%	0.63%	9.53%	15.48%
OIS	71 Outperform	$414.63M	18.40	3.31%	―	-11.02%	―
NCSM	71 Outperform	$98.59M	8.66	11.89%	―	16.61%	-72.29%
RNGR	70 Neutral	$297.40M	21.44	5.54%	1.71%	-5.47%	2.24%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
FET	61 Neutral	$413.93M	-3.90	-31.11%	―	-1.29%	-123.25%
GEOS	61 Neutral	$200.64M	-22.06	-7.48%	―	-18.29%	-43.05%

Forum Energy Tech Corporate Events

Forum Energy Tech Director Leslie Beyer Retires

On September 18, 2025, Leslie A. Beyer retired from the board of directors of Forum Energy Technologies, Inc. to assume her new role as Assistant Secretary of the Interior for Lands and Minerals Management at the U.S. Department of the Interior. Her departure was amicable and not due to any disagreements with the company’s operations or policies.