Flotek (FTK)
NYSE:FTK
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Flotek
(NYSE:FTK)
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Rating:71Outperform
Price Target:
$17.00
▲(7.94% Upside)
Action:UpgradedDate:03/12/26
The score is driven primarily by improved financial fundamentals (profitability recovery and sharply reduced leverage) and a strong earnings-call outlook led by fast-growing, high-margin Data Analytics and expected PowerTech growth. Offsetting factors are weaker cash conversion versus earnings, only moderate technical momentum, and a valuation profile that lacks dividend support.
Positive Factors
High‑margin Recurring Data Analytics
Rapid, high‑margin Data Analytics growth shifts the company toward scalable, recurring revenue that is less cyclical than commodity chemistry sales. Sustained >$12M/month recurring ARR and outsized gross margins provide durable margin expansion, backlog visibility and predictable revenue over the next 2–6 months.
Negative Factors
Weak Cash Conversion
Earnings have not consistently translated into cash, leaving free cash flow fragile despite profitability. Poor cash conversion constrains self‑funding of growth, raises reliance on ABL or external financing for CapEx/expansion, and elevates funding risk if growth or margins slow.
Read all positive and negative factors
Positive Factors
Negative Factors
High‑margin Recurring Data Analytics
Rapid, high‑margin Data Analytics growth shifts the company toward scalable, recurring revenue that is less cyclical than commodity chemistry sales. Sustained >$12M/month recurring ARR and outsized gross margins provide durable margin expansion, backlog visibility and predictable revenue over the next 2–6 months.
Read all positive factors
Flotek (FTK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$569.72M
Dividend YieldN/A
Average Volume (3M)292.35K
Price to Earnings (P/E)19.1
Beta (1Y)1.74
Revenue Growth23.56%
EPS Growth242.78%
CountryUS
Employees142
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.08
Shares Outstanding36,172,490
10 Day Avg. Volume200,870
30 Day Avg. Volume292,349
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 Cap0.91
Enterprise Value/Revenue2.19
Enterprise Value/Gross Profit8.85
Enterprise Value/Ebitda14.31
Forecast
1Y Price Target
$21.50Price Target Upside36.51% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.73
Revenue Forecast (FY)$260.16M
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 Key Performance Indicators (KPIs)
Flotek Earnings Call Summary
Earnings Call Date:Mar 11, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call presented strong, company-wide positive momentum driven by exceptional Data Analytics growth, meaningful upstream revenue and gross profit expansion, successful PowerTech integration, a major measurement milestone (XBEG GPA 2172 qualification), and materially improved adjusted EBITDA and recurring revenue. These positives materially outweigh several near-term headwinds including a Q4 dip in external chemistry revenue, one-time penalty impacts, Q4 EPS pressure from higher depreciation/interest and a temporary spike in the effective tax rate, and manageable supply-chain/geopolitical risks. Management provided clear forward levers (PowerTech revenue ramp, backlog, CapEx plans, and expected tax normalization) that support continued upside into 2026.Positive Updates
Record Revenue and Historical Highs
Highest quarterly and annual revenues since 2017; Data Analytics segment achieved its highest-ever quarterly and annual revenue in company history; total company revenue grew 33% YoY in the fourth quarter.
Negative Updates
Quarterly Chemistry Revenue Weakness
External customer Chemistry revenue declined ~30% from the year-ago quarter (Q4) due largely to slowing activity in November and December, although full-year external Chemistry revenues were still up ~26% versus 2024.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue and Historical Highs
Highest quarterly and annual revenues since 2017; Data Analytics segment achieved its highest-ever quarterly and annual revenue in company history; total company revenue grew 33% YoY in the fourth quarter.
Read all positive updates
Company Guidance
The company reiterated forward-looking financial and operational targets: adjusted EBITDA grew 123% for full-year 2025 (up ~40% in Q4) and, using the prior methodology, would be roughly $10.1 million, with management saying adjusted EBITDA is near the top end of its guidance range; PowerTech contributed $15.8 million in 2025 and is expected to be north of $27 million in 2026 (≈70% year-over-year increase) and remain a major driver of 2026 results; Data Analytics posted about $18 million of gross profit in 2025, accounted for 48% of company gross profit (vs 8% a year ago), exited the year with >$12.02 million per month of recurring revenue and 35+ patents, and is expected to exceed 50% of company profitability in 2026; total company revenue growth was 33% in the quarter, Q4 gross profit margin was 22.5%, gross profit rose ~24% versus the prior-year quarter and ~52% for the full year, Q4 net income was $3.0 million ($0.08/share) versus $4.4 million ($0.14) a year ago, the Q4 effective tax rate was ~35% but is expected to normalize toward ~21% (with little to no cash taxes anticipated beyond state taxes), year-end cash was $5.7 million with $3.3 million drawn on the ABL and total assets ~ $220 million, CapEx is expected to rise to roughly $10–$15 million in 2026 (vs ~$2 million in 2025), the PowerTech fleet stands at ~30 units (15 pairs) with a goal to double by year-end, and upstream revenues jumped from $2.1 million in 2024 to >$21 million in 2025 (upstream gross profit from $1.2 million to $18.4 million).Flotek Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 237.26M | 187.03M | 188.06M | 136.09M | 43.27M |
| Gross Profit | 58.00M | 39.39M | 24.26M | -6.70M | 3.26M |
| EBITDA | 36.27M | 13.13M | 28.45M | -34.54M | -29.48M |
| Net Income | 30.53M | 10.50M | 24.71M | -42.30M | -30.53M |
Balance Sheet | |||||
| Total Assets | 220.05M | 170.80M | 157.51M | 164.81M | 50.24M |
| Cash, Cash Equivalents and Short-Term Investments | 5.73M | 4.40M | 5.85M | 12.29M | 11.53M |
| Total Debt | 50.15M | 12.85M | 17.88M | 119.58M | 13.26M |
| Total Liabilities | 106.99M | 56.90M | 55.55M | 162.21M | 30.05M |
| Stockholders Equity | 113.06M | 113.90M | 101.96M | 2.60M | 20.19M |
Cash Flow | |||||
| Free Cash Flow | 5.22M | 1.42M | -12.38M | -45.05M | -25.88M |
| Operating Cash Flow | 7.20M | 3.36M | -11.30M | -44.63M | -25.84M |
| Investing Cash Flow | -1.98M | -1.82M | -1.01M | 5.33M | 112.00K |
| Financing Cash Flow | -3.74M | -3.12M | 5.93M | 38.27M | -372.00K |
Flotek Technical Analysis
Neutral
15.75
Price Trends
16.91
Negative
16.58
Negative
15.19
Positive
Market Momentum
-0.33
Positive
42.96
Neutral
18.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FTK, the sentiment is Neutral. The current price of 15.75 is below the 20-day moving average (MA) of 16.76, below the 50-day MA of 16.91, and above the 200-day MA of 15.19, indicating a neutral trend. The MACD of -0.33 indicates Positive momentum. The RSI at 42.96 is Neutral, neither overbought nor oversold. The STOCH value of 18.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FTK.
Flotek Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $569.72M | 19.13 | 29.42% | ― | 23.56% | 242.78% | |
70 Outperform | $484.50M | 25.71 | 7.43% | 0.63% | 9.53% | 15.48% | |
68 Neutral | $673.01M | -45.45 | -3.11% | ― | -1.29% | -123.25% | |
68 Neutral | $395.41M | 24.42 | 5.54% | 1.71% | -5.47% | 2.24% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $689.36M | -3.63 | -16.46% | ― | -11.02% | ― | |
52 Neutral | $121.40M | -5.56 | -21.91% | ― | -18.29% | -43.05% |
* Energy Sector Average
FTK
Flotek
15.75
8.62
120.90%
FET
Forum Energy Tech
59.79
44.47
290.27%
NGS
Natural Gas Services Group
38.21
19.38
102.95%
OIS
Oil States International
11.45
7.69
204.52%
GEOS
Geospace Technologies
9.42
2.81
42.51%
RNGR
Ranger Energy Services
16.79
4.32
34.66%
Flotek Corporate Events
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.