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Flotek
(NYSE:FTK)
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Rating:69Neutral
Price Target:
$26.00
▲(66.45% 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
A structural shift into data analytics creates a durable, higher‑margin revenue stream that now supplies roughly half of company gross profit. Recurring service sales and materially higher gross margins diversify Flotek away from volatile chemistry sales and support longer‑term margin sustainability and operating leverage.
Negative Factors
Weak cash‑flow conversion
Negative trailing cash flows despite reported profits signal working‑capital drag or cash conversion issues that impair sustainable self‑funding. This historic cash volatility increases reliance on external financing for capex or acquisitions and raises execution risk if high‑margin growth doesn't convert to stable, recurring cash.
Read all positive and negative factors
Positive Factors
Negative Factors
High‑margin Data Analytics growth
A structural shift into data analytics creates a durable, higher‑margin revenue stream that now supplies roughly half of company gross profit. Recurring service sales and materially higher gross margins diversify Flotek away from volatile chemistry sales and support longer‑term margin sustainability and operating leverage.
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
$855.60M
Dividend YieldN/A
Average Volume (3M)333.48K
Price to Earnings (P/E)28.4
Beta (1Y)1.45
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. Volume310,248
30 Day Avg. Volume333,476
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 Cap0.84
Enterprise Value/Revenue2.87
Enterprise Value/Gross Profit11.60
Enterprise Value/Ebitda24.11
Forecast
1Y Price Target
$24.13Price Target Upside54.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.59
Revenue Forecast (FY)$285.21M
Flotek Business Overview & Revenue Model
Company Description
Flotek Industries, Inc., founded in 1985 and headquartered in Houston, Texas, operates as an innovation-driven enterprise specializing in chemical and data solutions. Its global reach extends across industrial, commercial, and consumer sectors, wi...
How the Company Makes Money
Flotek makes money primarily by selling oilfield chemistry products and related services to customers in the oil and gas sector. Revenue is generated through the commercial supply of specialty chemical formulations (e.g., production and well-perfo...
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
20.38
Positive
18.51
Positive
17.23
Positive
Market Momentum
0.65
Positive
57.86
Neutral
60.80
Neutral
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 23.38, below the 50-day MA of 20.38, and below the 200-day MA of 17.23, indicating a bullish trend. The MACD of 0.65 indicates Positive momentum. The RSI at 57.86 is Neutral, neither overbought nor oversold. The STOCH value of 60.80 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $855.60M | 28.36 | 28.83% | ― | 24.72% | 72.35% | |
67 Neutral | $553.01M | -101.92 | -2.09% | ― | -0.05% | 94.53% | |
67 Neutral | $515.65M | 23.39 | 7.99% | 0.63% | 11.28% | 27.38% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | $374.72M | 24.07 | 5.12% | 1.71% | 0.25% | -27.15% | |
54 Neutral | $476.13M | -4.10 | -17.52% | ― | -4.50% | -2286.91% | |
45 Neutral | $87.32M | -2.97 | -24.22% | ― | -13.43% | -78.10% |
* Energy Sector Average
FTK
Flotek
23.65
8.81
59.37%
FET
Forum Energy Tech
48.92
29.42
150.87%
NGS
Natural Gas Services Group
40.93
15.78
62.74%
OIS
Oil States International
7.91
2.28
40.50%
GEOS
Geospace Technologies
6.75
-7.27
-51.85%
RNGR
Ranger Energy Services
15.77
3.64
29.97%
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...
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.