Forum Energy Tech (FET) AI Stock Analysis

• Market Cap: $342.46M
• Dividend Yield: N/A
• Average Volume (3M): 118.71K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.06
• Revenue Growth: 3.86%
• EPS Growth: -294.41%
• Country: US
• Employees: 1,800
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): -0.10
• Shares Outstanding: 11,903,276
• 10 Day Avg. Volume: 146,207
• 30 Day Avg. Volume: 118,709
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.30
• Enterprise Value/Revenue: 0.55
• Enterprise Value/Gross Profit: 1.81
• Enterprise Value/Ebitda: -10.85
• 1Y Price Target: $27.00
• Price Target Upside: -2.91% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 60 Neutral
• Price Target: $27.00 ▼(-2.91% Downside)

The overall stock score is primarily influenced by the company's strong earnings call, which highlighted strategic growth initiatives and improved financial guidance. However, significant financial challenges and a poor valuation score due to negative profitability metrics weigh down the overall score. Technical analysis shows bullish momentum, but overbought conditions suggest caution.

Forum Energy Tech Business Overview & Revenue Model

Company Description

Forum Energy Technologies, Inc. designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction markets, including applications in oil and natural gas, renewable energy, defense, and communications. This segment offers drilling technologies consisting of capital equipment and a line of products consumed in the drilling process; well construction casing and cementing equipment, and protection products for artificial lift equipment and cables; and subsea remotely operated vehicles and trenchers, submarine rescue vehicles, specialty components and tools, and complementary subsea technical services. The Completions segment offers hydraulic fracturing pumps, cooling systems, high-pressure flexible hoses, and flow iron for pressure pumping, hydraulic fracturing and flowback services markets; wireline cable and pressure control equipment for well completion and intervention service markets; and coiled tubing strings and coiled line pipe. The Production segment designs, manufactures, and supplies products, and provides related equipment and services for production and infrastructure markets. This segment offers engineered process systems, production equipment, specialty separation equipment, and various industrial valves for oil and natural gas customers, power generation, renewable energy, and other general industrial applications. The company was formerly known as Forum Oilfield Technologies, Inc. and changed its name to Forum Energy Technologies, Inc. in August 2010. Forum Energy Technologies, Inc. was incorporated in 2005 and is headquartered in Houston, Texas.

How the Company Makes Money

Forum Energy Technologies generates revenue through multiple streams, primarily by selling equipment and providing services to the oil and gas industry. Its key revenue streams include the sale of subsea production systems, drilling equipment, and surface production technologies, which are critical for energy extraction and production. The company also earns revenue from aftermarket services, including repairs, maintenance, and upgrades of existing equipment. Additionally, partnerships with major oil and gas companies enable FET to secure long-term contracts and projects, which provide a stable income source. The company benefits from market dynamics such as rising energy demand and technological advancements that necessitate innovative solutions in the energy sector.

Forum Energy Tech Financial Statement Overview

Summary

Forum Energy Tech faces several financial challenges, particularly in sustaining profitability, as evident from the income statement. While the balance sheet shows controlled leverage, potential risks in equity stability should be monitored. The cash flow situation is more promising, with positive free cash flow and efficient cash conversion, providing a degree of operational flexibility amidst ongoing losses.

Income Statement

The income statement shows a challenging financial situation with consistent negative net income and declining EBIT and EBITDA margins over several periods. Gross profit margin remains relatively stable, but overall revenue growth has stagnated. The recent TTM data indicates a slight reduction in gross profit compared to the previous annual report, highlighting potential difficulties in maintaining profitability.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio, indicating manageable leverage. However, the equity ratio has declined due to decreasing stockholders' equity. The company maintains a reasonable level of cash and equivalents. Despite some financial restructuring, the balance sheet reflects a mixed picture with potential risks around equity stability.

Cash Flow

Cash flow statements indicate positive free cash flow in the recent TTM period, a positive sign. Operating cash flow has improved, but the company experienced fluctuations in free cash flow in previous years. The operating cash flow to net income ratio is favorable, suggesting efficient cash conversion despite net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	801.85M	816.42M	738.86M	699.90M	541.10M	512.50M
Gross Profit	245.90M	255.03M	204.15M	188.50M	123.30M	-11.00M
EBITDA	-41.01M	-43.22M	45.21M	46.03M	-7.82M	-28.50M
Net Income	-109.52M	-135.33M	-18.88M	3.71M	-82.70M	-96.90M
Balance Sheet
Total Assets	810.13M	815.95M	821.06M	831.30M	791.30M	889.90M
Cash, Cash Equivalents and Short-Term Investments	38.97M	44.66M	46.16M	51.00M	46.90M	128.60M
Total Debt	81.88M	272.59M	201.40M	313.31M	278.93M	351.20M
Total Liabilities	475.91M	496.05M	408.43M	524.20M	462.20M	483.70M
Stockholders Equity	334.22M	319.90M	412.63M	307.10M	329.10M	406.20M
Cash Flow
Free Cash Flow	92.87M	84.05M	239.00K	-24.60M	-18.20M	1.70M
Operating Cash Flow	89.22M	92.19M	8.18M	-17.10M	-15.80M	3.90M
Investing Cash Flow	21.97M	-137.53M	-6.57M	27.10M	10.70M	108.30M
Financing Cash Flow	-106.95M	45.24M	-7.58M	-5.08M	-76.20M	-41.80M

Forum Energy Tech Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.81
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

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 27.81 is above the 20-day moving average (MA) of 26.85, above the 50-day MA of 23.70, and above the 200-day MA of 18.87, indicating a bullish trend. The MACD of 1.12 indicates Positive momentum. The RSI at 68.88 is Neutral, neither overbought nor oversold. The STOCH value of 82.72 is Negative, 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	$360.97M	20.21	6.73%	0.35%	14.77%	34.74%
FTK	65 Neutral	$437.42M	33.21	19.64%	―	21.72%	98.73%
GEOS	62 Neutral	$244.75M	-17.99	-4.89%	―	-10.77%	-229.81%
FET	60 Neutral	$342.46M	―	-28.21%	―	3.86%	-294.41%
OIS	53 Neutral	$375.67M	55.21	-1.65%	―	-12.15%	―
NINE	45 Neutral	$30.04M	-0.76	44.58%	―	3.23%	31.76%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Forum Energy Tech Corporate Events

Forum Energy Tech Expands Board with New Appointments

On June 13, 2025, Forum Energy Technologies, Inc. announced the appointment of Aron H. Marquez and Mark W. Smith to its Board of Directors, expanding the Board to nine members. Mr. Marquez will serve as a Class III director until 2027, participating in the Nominating, Governance & Sustainability Committee, and the Compensation & Human Capital Committee. Mr. Smith will serve as a Class I director until 2028, joining the Audit Committee and Compensation & Human Capital Committee. Both directors will receive compensation similar to other non-employee directors, including restricted stock awards.