TechnipFMC PLC (FTI)
NYSE:FTI
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TechnipFMC
(NYSE:FTI)
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Rating:79Outperform
Price Target:
$82.00
â–²(14.17% Upside)
Action:ReiteratedDate:02/20/26
FTI scores well on fundamentals, led by improved profitability, strong cash generation, and a significantly stronger balance sheet, reinforced by constructive 2026 guidance and shareholder-return commitments. The score is tempered by overbought technical readings that add near-term volatility risk and a relatively rich valuation with a low dividend yield.
Positive Factors
Deleveraged balance sheet
Leverage collapsed to roughly $34M in 2025 with equity of ~$3.1–3.4B, materially improving financial flexibility. Low debt cuts refinancing and covenant risk, supports bidding on large integrated projects, funds capex/shareholder returns and cushions cyclical oilfield exposure.
Negative Factors
Margin volatility
Margins expanded in 2024 then compressed in 2025 due to mix, costs and project timing, showing volatility. Such swings weaken predictability of sustainable profitability and FCF conversion, making medium‑term earnings power sensitive to execution, contract mix and input-cost trends.
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Positive Factors
Negative Factors
Deleveraged balance sheet
Leverage collapsed to roughly $34M in 2025 with equity of ~$3.1–3.4B, materially improving financial flexibility. Low debt cuts refinancing and covenant risk, supports bidding on large integrated projects, funds capex/shareholder returns and cushions cyclical oilfield exposure.
Read all positive factors
TechnipFMC (FTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.73B
Dividend Yield0.44%
Average Volume (3M)4.13M
Price to Earnings (P/E)19.4
Beta (1Y)1.03
Revenue Growth11.73%
EPS Growth45.70%
CountryUS
Employees21,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.70
Shares Outstanding400,044,920
10 Day Avg. Volume2,972,406
30 Day Avg. Volume4,128,279
Financial Highlights & Ratios
PEG Ratio1.12
Price to Book (P/B)5.55
Price to Sales (P/S)1.88
P/FCF Ratio12.90
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue3.06
Enterprise Value/Gross Profit17.64
Enterprise Value/Ebitda20.39
Forecast
1Y Price Target
$67.42Price Target Upside-6.13% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)2.92
Revenue Forecast (FY)$10.67B
TechnipFMC Business Overview & Revenue Model
Company Description
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. The Subsea segment engages in the design, engine...
How the Company Makes Money
TechnipFMC makes money primarily by selling equipment and project services to oil and gas producers for the development, expansion, and operation of offshore (especially deepwater) fields. Key revenue streams include: (1) Subsea project awards del...
TechnipFMC Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call communicated strong multi-year commercial momentum, material full-year improvement in profitability and cash generation, a record Subsea opportunities pipeline, and constructive 2026 guidance including higher margins and continued returns to shareholders. Near-term headwinds are primarily seasonal and operational (fleet maintenance, Q1 softness in Surface Technologies) and include one-time restructuring charges intended to drive longer-term efficiency gains. Overall the positive growth, margin expansion, cash generation, backlog quality and explicit guidance upgrades materially outweigh the disclosed near-term challenges.Positive Updates
Strong Full-Year Revenue and EBITDA Growth
Total company revenue for FY2025 grew 9% to $9.9 billion and adjusted EBITDA increased 33% to $1.8 billion versus the prior year (excluding FX), demonstrating significant margin expansion and operating leverage.
Negative Updates
Sequential Subsea Quarter Softness
Subsea revenue in Q4 was $2.2 billion, down 5% versus Q3, and Subsea adjusted EBITDA declined 18% sequentially to $416 million due to seasonally lower vessel-based activity and reduced fleet availability from higher scheduled maintenance.
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Q4-2025 Updates
Positive
Negative
Strong Full-Year Revenue and EBITDA Growth
Total company revenue for FY2025 grew 9% to $9.9 billion and adjusted EBITDA increased 33% to $1.8 billion versus the prior year (excluding FX), demonstrating significant margin expansion and operating leverage.
Read all positive updates
Company Guidance
TechnipFMC guided to 2026 results with Subsea revenue of $9.4B and a Subsea adjusted EBITDA margin of 21.5% at the midpoint (implying ~16% Subsea adjusted EBITDA growth vs. 2025); Subsea Q1 is expected to be up low-single-digits sequentially with ~50 bps margin improvement from the Q4 18.9% level. Surface Technologies is guided to just over $1.2B of revenue with a ~17.25% adjusted EBITDA margin at midpoint, while Q1 Surface revenue is expected to be down ~10% QoQ with ~16.5% margin. Corporate expense is guided to $120M for the year (~$40M in Q1). Total company adjusted EBITDA is expected to exceed $2.1B at midpoint (≈15% growth vs. 2025 excluding FX), capital expenditures are expected to be approximately $340M (~3% of revenue), and full‑year free cash flow is guided to $1.3B–$1.45B (≈65% conversion at midpoint) with at least 70% of FCF targeted for return to shareholders in 2026.TechnipFMC Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.93B | 9.08B | 7.83B | 6.70B | 6.40B |
| Gross Profit | 1.72B | 1.71B | 1.34B | 896.30M | 823.90M |
| EBITDA | 1.48B | 1.41B | 964.00M | 576.80M | 464.00M |
| Net Income | 963.90M | 842.90M | 22.90M | -107.20M | 13.30M |
Balance Sheet | |||||
| Total Assets | 10.12B | 9.87B | 9.66B | 9.44B | 10.02B |
| Cash, Cash Equivalents and Short-Term Investments | 1.04B | 1.17B | 962.10M | 1.06B | 1.64B |
| Total Debt | 2.02B | 1.79B | 1.97B | 2.29B | 2.83B |
| Total Liabilities | 6.71B | 6.73B | 6.48B | 6.17B | 6.60B |
| Stockholders Equity | 3.36B | 3.09B | 3.14B | 3.24B | 3.40B |
Cash Flow | |||||
| Free Cash Flow | 1.45B | 679.40M | 451.10M | 194.20M | 589.60M |
| Operating Cash Flow | 1.76B | 961.00M | 676.30M | 352.10M | 781.30M |
| Investing Cash Flow | -298.30M | -75.80M | -125.60M | 162.20M | 768.70M |
| Financing Cash Flow | -1.62B | -648.00M | -639.80M | -796.70M | -5.02B |
TechnipFMC Technical Analysis
Positive
71.82
Price Trends
64.08
Positive
55.46
Positive
46.31
Positive
Market Momentum
2.40
Negative
63.66
Neutral
85.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FTI, the sentiment is Positive. The current price of 71.82 is above the 20-day moving average (MA) of 68.00, above the 50-day MA of 64.08, and above the 200-day MA of 46.31, indicating a bullish trend. The MACD of 2.40 indicates Negative momentum. The RSI at 63.66 is Neutral, neither overbought nor oversold. The STOCH value of 85.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FTI.
TechnipFMC Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $31.30B | 10.34 | 11.48% | 4.43% | -9.76% | -18.94% | |
79 Outperform | $28.73B | 19.37 | 29.62% | 0.44% | 11.73% | 45.70% | |
74 Outperform | $77.58B | 16.85 | 14.64% | 2.98% | -2.13% | -16.76% | |
69 Neutral | $62.42B | 17.39 | 14.43% | 2.04% | 1.51% | 30.09% | |
66 Neutral | $31.66B | 18.48 | 12.36% | 2.41% | -4.06% | -47.41% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | $6.90B | 40.10 | 2.26% | 3.24% | -1.43% | -63.13% |
* Energy Sector Average
FTI
TechnipFMC
71.82
47.80
199.01%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.