Forum Energy Tech (FET) AI Stock Analysis

• Market Cap: $325.86M
• Dividend Yield: N/A
• Average Volume (3M): 114.68K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.00
• 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: 153,061
• 30 Day Avg. Volume: 114,684
• 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: 1.55
• Enterprise Value/Revenue: 0.64
• Enterprise Value/Gross Profit: 2.29
• Enterprise Value/Ebitda: -8.68
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.51
• Revenue Forecast (FY): $774.35M

• Rating: 55 Neutral
• Price Target: $27.00 ▼(-4.96% Downside)

Forum Energy Tech's overall stock score is driven by significant challenges in financial performance, particularly profitability and revenue growth. However, the positive earnings call with strong backlog growth and improved cash flow provides a more optimistic outlook. Technical indicators are mixed, and valuation remains a concern due to negative earnings.

Forum Energy Tech Business Overview & Revenue Model

Company Description

Forum Energy Technologies, Inc. (FET) is a leading global provider of equipment and services for the energy and industrial sectors. The company specializes in the development and manufacturing of advanced technology solutions for subsea, drilling, and production applications. FET operates through three primary segments: Subsea Technologies, Drilling Technologies, and Production Technologies, offering a diverse range of products including subsea systems, drilling equipment, and surface production equipment.

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 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. The company needs to focus on improving operational efficiency and profitability to enhance its financial health.

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	699.90M	541.10M	512.50M
Gross Profit	220.40M	255.03M	204.15M	188.50M	123.30M	-11.00M
EBITDA	-58.24M	-43.22M	45.21M	78.85M	-7.82M	-28.50M
Net Income	-115.21M	-135.33M	-18.88M	3.71M	-82.70M	-96.90M
Balance Sheet
Total Assets	770.09M	815.95M	821.06M	831.30M	791.30M	889.90M
Cash, Cash Equivalents and Short-Term Investments	31.69M	44.66M	46.16M	51.00M	46.90M	128.60M
Total Debt	86.62M	272.59M	201.40M	304.54M	278.93M	351.20M
Total Liabilities	472.78M	496.05M	408.43M	527.72M	462.20M	483.70M
Stockholders Equity	297.31M	319.90M	412.63M	307.10M	329.10M	406.20M
Cash Flow
Free Cash Flow	81.17M	84.05M	239.00K	-24.60M	-18.20M	1.70M
Operating Cash Flow	86.48M	92.19M	8.18M	-17.10M	-15.80M	3.90M
Investing Cash Flow	28.66M	-137.53M	-6.57M	27.10M	10.70M	108.30M
Financing Cash Flow	-116.56M	45.24M	-7.58M	-5.08M	-76.20M	-41.80M

Forum Energy Tech Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.41
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 28.41 is below the 20-day moving average (MA) of 29.16, above the 50-day MA of 27.65, and above the 200-day MA of 20.69, indicating a bullish trend. The MACD of 0.53 indicates Positive momentum. The RSI at 54.01 is Neutral, neither overbought nor oversold. The STOCH value of 42.02 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	$366.36M	20.52	7.00%	0.34%	14.77%	34.74%
NCSM	73 Outperform	$94.01M	8.15	11.89%	―	16.61%	-72.29%
OIS	71 Outperform	$367.44M	16.40	3.31%	―	-11.02%	―
RNGR	69 Neutral	$300.35M	21.12	5.54%	1.68%	-5.47%	2.24%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
GEOS	61 Neutral	$333.21M	―	-9.95%	―	-10.77%	-229.81%
FET	55 Neutral	$325.86M	―	-31.11%	―	-1.29%	-123.25%

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.

The most recent analyst rating on (FET) stock is a Hold with a $27.00 price target. To see the full list of analyst forecasts on Forum Energy Tech stock, see the FET Stock Forecast page.

Forum Energy’s Earnings Call Highlights Growth and Challenges

Forum Energy Technologies (FET) recently held its earnings call, revealing a generally positive sentiment driven by strong sequential growth and record-high backlog levels. The company successfully executed its market strategy, which led to increased revenue per rig and raised free cash flow guidance. However, challenges in the valve business due to tariffs and declining rig counts pose ongoing concerns. Despite these issues, the overall sentiment remains optimistic, highlighting the company’s robust performance and strategic execution.

Forum Energy Technologies Reports Strong Q2 2025 Results

Forum Energy Technologies, Inc., headquartered in Houston, Texas, is a global manufacturing company that provides solutions to the oil, natural gas, industrial, and renewable energy industries, focusing on enhancing safety, efficiency, and environmental impact of operations.