Forum Energy Technologies, Inc. (FET) AI Stock Analysis

Forum Energy Technologies, Inc. is a global provider of specialized products for the oil, natural gas, industrial, and renewable energy sectors. Headquartered in Houston, Texas, the company operates across three segments: Drilling & Downhole, Completions, and Production. Its Drilling & Downhole segment delivers drilling technologies, well construction tools, artificial lift systems, and subsea vehicles for energy exploration, defense, and telecommunications. The Completions segment provides pressure pumping and well completion equipment, including hydraulic fracturing units, high-pressure hoses, wireline cables, and coiled tubing solutions. The Production segment designs and manufactures equipment supporting ongoing field operations and maintenance across industrial and energy markets worldwide.

Forum Energy Technologies grew revenue at a 5-year CAGR of 9.1% from FY2020 through FY2025. Annual revenue reached $816.4M in FY2024 before falling 3.1% to $791.5M in FY2025. Operating margin swung from -10.6% in FY2024 to 2.4% in FY2025, while net margin improved from -16.6% to -1.2%, resulting in net income of -$9.7M and diluted EPS of $0.62. Over the trailing twelve months, revenue totaled $833.3M with an operating margin of 9.3% and a net profit margin of -0.2%. In the latest quarter ended June 30, 2026, quarterly revenue grew 13.2% year-over-year, while quarterly earnings grew 72.1%.

As of June 30, 2026, Forum Energy Technologies held $33.7M in cash and short-term investments against total debt of $227.5M, leaving net debt at $193.8M. Shareholders' equity stood at $289.8M against total assets of $770.7M. The company maintains a current ratio of 2.19 and a debt-to-equity ratio of 0.79. In FY2025, operating cash flow reached $70.4M and free cash flow was $64.4M. Capital expenditures totaled $6.0M, while the company directed $34.6M toward share buybacks.

At $78.70 per share, Forum Energy Technologies holds a market capitalization of $902.9M and an enterprise value of $1.14B. FET trades at a forward P/E of 15.1x, above the 12.7x median of its US-listed Energy peers. Its EV/EBITDA multiple of 16.5x exceeds the peer median of 8.0x, while its price-to-sales ratio of 1.1x is lower than the peer median of 1.8x. Over the past year, FET shares rose 185.8%, outperforming the 16.8% return for the S&P 500 (SPY). Over five years, FET has delivered a 236.2% return compared to 83.0% for the index.

Analysts tracking Forum Energy Technologies project full-year FY2026 EPS of $4.01 on revenue of $886.8M, representing 536.5% earnings growth. For FY2027, 2 analysts project EPS of $4.96 on revenue of $939.3M, representing 23.7% earnings growth and 5.9% revenue growth. The mean price target is $91.00, implying 15.6% upside from the last close of $78.70. The company beat EPS consensus estimates in each of the last 4 quarters, and its next earnings date is October 29, 2026.

This page is an AI-written research summary of Forum Energy Technologies, Inc. (FET). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: FET income statement, FET balance sheet, FET key metrics, FET analyst forecast, FET chart. See the FET stock overview for the latest quote and news.