Flotek Industries, Inc. (FTK)
NYSE:FTK
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Flotek
(NYSE:FTK)
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Rating:69Neutral
Price Target:
$22.50
▲(44.05% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by improved profitability and balance-sheet strength, tempered by weak recent cash-flow conversion. Momentum is strong but technically overbought, while valuation is relatively expensive. Earnings-call guidance and backlog-driven growth in high-margin data analytics and Power Services provide a meaningful positive offset, despite mix and execution risks.
Positive Factors
High‑margin Data Analytics Growth
Flotek’s rapid expansion in data analytics shifts revenue mix toward a high‑margin, service‑based business with recurring workflows. A 75% segment gross margin and outsized gross profit contribution create durable margin expansion potential and reduce reliance on cyclical chemistry sales over the medium term.
Negative Factors
Weak Cash Conversion
Negative trailing twelve‑month operating and free cash flow despite reported profits signals persistent working‑capital or collection issues and historically episodic cash burn. This undermines financial flexibility, increases reliance on external financing, and raises execution risk as the company scales new services.
Read all positive and negative factors
Positive Factors
Negative Factors
High‑margin Data Analytics Growth
Flotek’s rapid expansion in data analytics shifts revenue mix toward a high‑margin, service‑based business with recurring workflows. A 75% segment gross margin and outsized gross profit contribution create durable margin expansion potential and reduce reliance on cyclical chemistry sales over the medium term.
Read all positive factors
Flotek Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales by business line, showing which products or services drive growth and how concentrated the company’s revenue is. For Flotek, segment-level revenue can reveal dependence on oilfield chemistry or service lines that move with drilling activity, helping you judge where growth or vulnerability is coming from.
Breaks down sales by business line, showing which products or services drive growth and how concentrated the company’s revenue is. For Flotek, segment-level revenue can reveal dependence on oilfield chemistry or service lines that move with drilling activity, helping you judge where growth or vulnerability is coming from.
Data provided by:
The Fly
The FlyFlotek (FTK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$719.21M
Dividend YieldN/A
Average Volume (3M)250.01K
Price to Earnings (P/E)32.8
Beta (1Y)1.56
Revenue Growth24.72%
EPS Growth72.35%
CountryUS
Employees142
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.83
Shares Outstanding36,177,483
10 Day Avg. Volume357,445
30 Day Avg. Volume250,011
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)5.17
Price to Sales (P/S)2.46
P/FCF Ratio111.91
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue2.56
Enterprise Value/Gross Profit10.35
Enterprise Value/Ebitda21.52
Forecast
1Y Price Target
$22.00Price Target Upside40.85% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.61
Revenue Forecast (FY)$282.03M
Flotek Business Overview & Revenue Model
Company Description
Flotek Industries, Inc. operates as a technology-driven chemistry and data company that serves customers across industrial, commercial, and consumer markets in the United States, the United Arab Emirates, and internationally. It operates in two se...
How the Company Makes Money
Flotek makes money primarily by selling proprietary chemistry-based products used in oil and gas operations and by providing related services that support the application and optimization of those products in the field. Revenue is generally genera...
Flotek Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The earnings call emphasized strong, high-margin growth driven by the data analytics segment (large YoY percentage increases, outsized contribution to gross profit, and a growing multi-year backlog), robust adjusted EBITDA expansion, product recognition (XSpec) and a growing Power Services pipeline. These positives outweigh the headwinds: a significant YoY decline in external chemistry revenue, a dip in net income per share driven by higher interest/depreciation and a higher tax rate, some soft domestic demand pockets (flare monitoring), and short-term logistics/commodity-cycle exposure. Management highlighted conservative guidance while signaling material upside from conditioning assets, utilities work, and larger distributed power opportunities.Positive Updates
Total Revenue Growth
Total company revenue grew 27% year over year (Q1 2026 vs Q1 2025) and 4% sequentially, marking the highest quarterly revenue since 2017.
Negative Updates
External Chemistry Revenue Decline
External customer chemistry revenue declined 33% year over year in Q1 (flat sequentially). Management noted international logistics delays and early-Q1 weather/maintenance impacts, but expects external chemistry to recover in Q2 and potentially reach prior-year quarterly levels by year-end.
Read all updates
Q1-2026 Updates
Positive
Negative
Total Revenue Growth
Total company revenue grew 27% year over year (Q1 2026 vs Q1 2025) and 4% sequentially, marking the highest quarterly revenue since 2017.
Read all positive updates
Company Guidance
Flotek’s 2026 guidance targets total revenue of $270–$290 million and adjusted EBITDA of $36–$41 million (midpoints imply ~18% revenue and ~17% adjusted‑EBITDA growth vs. 2025); adjusted EBITDA guidance excludes non‑cash amortization of contract assets (Q1 $2.2M, ~$6.2M expected for the remainder of 2026, ~$8.4M total). Management expects sequential data‑analytics growth in Q2, approximately $12M of 2026 revenue from the Montana disaster‑recovery Power Services contract (pre‑extension), a remaining‑2026 data backlog of $34.1M and a three‑year backlog >$90M, plans to fully utilize a $12.5M equipment credit (≈$10M of POs already placed) to fund most capex, is targeting >50% penetration of proprietary analyzers on active North American e‑frac/natural‑gas fleets (roughly 150 units by year‑end), and noted Q1 metrics of 22% company gross profit (data‑analytics gross margin 75%; data‑analytics = 15% of revenue; service revenue = 82% of data‑analytics). At the midpoint leverage is ~1.0x net debt/adjusted‑EBITDA (below 1.0x when factoring amortization) and the expected effective tax rate is ~23–26%.Flotek Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 251.95M | 237.26M | 187.03M | 188.06M | 136.09M | 43.27M |
| Gross Profit | 62.29M | 59.83M | 39.39M | 24.26M | -6.70M | 3.26M |
| EBITDA | 29.97M | 25.43M | 13.13M | 28.45M | -34.54M | -29.48M |
| Net Income | 29.81M | 30.53M | 10.50M | 24.71M | -42.30M | -30.53M |
Balance Sheet | ||||||
| Total Assets | 231.84M | 220.05M | 170.80M | 157.51M | 164.81M | 50.24M |
| Cash, Cash Equivalents and Short-Term Investments | 5.78M | 5.73M | 4.40M | 5.85M | 12.29M | 11.53M |
| Total Debt | 51.05M | 50.15M | 12.85M | 17.88M | 119.58M | 13.26M |
| Total Liabilities | 113.67M | 106.99M | 56.90M | 55.55M | 162.21M | 30.05M |
| Stockholders Equity | 118.17M | 113.06M | 113.90M | 101.96M | 2.60M | 20.19M |
Cash Flow | ||||||
| Free Cash Flow | -2.96M | 5.22M | 1.42M | -12.38M | -45.05M | -25.88M |
| Operating Cash Flow | -568.00K | 7.20M | 3.36M | -11.30M | -44.63M | -25.84M |
| Investing Cash Flow | -2.39M | -1.98M | -1.82M | -1.01M | 5.33M | 112.00K |
| Financing Cash Flow | 2.46M | -3.74M | -3.12M | 5.93M | 38.27M | -372.00K |
Flotek Technical Analysis
Positive
15.62
Price Trends
16.89
Positive
17.05
Positive
15.71
Positive
Market Momentum
0.84
Negative
68.32
Neutral
84.54
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FTK, the sentiment is Positive. The current price of 15.62 is below the 20-day moving average (MA) of 17.51, below the 50-day MA of 16.89, and below the 200-day MA of 15.71, indicating a bullish trend. The MACD of 0.84 indicates Negative momentum. The RSI at 68.32 is Neutral, neither overbought nor oversold. The STOCH value of 84.54 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FTK.
Flotek Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $550.93M | 17.56 | 7.99% | 0.63% | 11.28% | 27.38% | |
69 Neutral | $719.21M | 32.84 | 28.83% | ― | 24.72% | 72.35% | |
67 Neutral | $656.10M | 36.61 | -2.09% | ― | -0.05% | 94.53% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $400.15M | 33.71 | 5.12% | 1.71% | 0.25% | -27.15% | |
54 Neutral | $552.58M | 151.76 | -17.52% | ― | -4.50% | -2286.91% | |
45 Neutral | $104.39M | -3.56 | -24.22% | ― | -13.43% | -78.10% |
* Energy Sector Average
FTK
Flotek
19.90
4.50
29.22%
FET
Forum Energy Tech
57.46
42.39
281.29%
NGS
Natural Gas Services Group
43.39
18.22
72.39%
OIS
Oil States International
9.09
4.55
100.22%
GEOS
Geospace Technologies
8.14
1.75
27.39%
RNGR
Ranger Energy Services
16.47
5.55
50.77%
Flotek Corporate Events
Executive/Board ChangesShareholder Meetings
Flotek Shareholders Reelect Board and Approve Executive Pay
Positive
May 15, 2026
On May 15, 2026, Flotek Industries, Inc. held its annual meeting of shareholders, where investors elected all seven director nominees to the board and approved, on an advisory basis, the compensation of the company’s named executive officers...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Flotek Q1 2026 Results Highlight Data Analytics Surge
Positive
May 5, 2026
Flotek Industries reported first quarter 2026 results on May 5, 2026, highlighting a 27% year-over-year increase in revenue to $70.1 million and a 25% rise in gross profit, while net income declined 13% and diluted EPS fell to $0.12. Growth was dr...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Flotek Posts Record 2025 Results Led by Data Analytics
Positive
Mar 12, 2026
Flotek reported that for the fourth quarter and full year ended December 31, 2025, it delivered its highest quarterly and annual revenues since 2017, with total revenue up 33% in the quarter and 27% for the year, and gross profit up 24% and 52%, r...
Business Operations and Strategy
Flotek Wins First Utilities Infrastructure Contract with PWRtek
Positive
Mar 3, 2026
On March 3, 2026, Flotek Industries announced its first contract in the utilities infrastructure sector, using its proprietary PWRtek platform to coordinate the installation of up to 50 megawatts of natural gas power generation, advanced gas distr...
Business Operations and StrategyExecutive/Board Changes
Flotek Appoints Christina Ibrahim as Senior Legal Executive
Positive
Mar 2, 2026
On March 2, 2026, Flotek Industries, Inc. announced the appointment of Christina M. Ibrahim as Senior Vice President, General Counsel, Chief Compliance Officer, and Corporate Secretary, with the appointment effective the same day. The move adds a ...
Executive/Board Changes
Flotek Enhances Executive Pay with New Performance-Based Equity
Positive
Feb 25, 2026
On February 24, 2026, Flotek’s board compensation committee approved new equity awards for CEO Dr. Ryan Ezell and CFO J. Bond Clement, consisting of time-based restricted stock units and performance-based restricted stock units. The RSUs ves...
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.