Forum Energy Technologies, Inc. (FET) Balance Sheet
FET balance sheet, 2025
December 31, 2025 · U.S. dollars$752.5M assets = $461.3M liabilities + $291.1M equity
Both columns are drawn to the same scale: what FET owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FET financial health
Descriptive bands, not a rating. Fiscal 2025.
FET balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.84B2016 | $752.5M2025 | −9.4%/yr | |
| Total liabilities | $602.2M2016 | $461.3M2025 | −2.9%/yr | |
| Shareholders’ equity | $1.24B2016 | $291.1M2025 | −14.8%/yr | |
| Cash & short-term investments | $234.4M2016 | $34.7M2025 | −19.1%/yr | |
| Total debt | $396.8M2016 | $219.9M2025 | −6.3%/yr | |
| Net cash (debt) | −$162.4M2016 | −$185.2M2025 | −$22.8M | |
| Working capital | $608.8M2016 | $242.3M2025 | −$366.4M | |
| Book value per share | $271.012016 | $24.502025 | −23.4%/yr | |
| Current ratio | 5.292016 | 2.172025 | −3.12 | |
| Debt / equity | 0.322016 | 0.762025 | +0.43 | |
| Shares outstanding | 4.6M2016 | 11.9M2025 | +11.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FET assets
FET liabilities and equity
FET debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FET balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $34.7M | $44.7M | $46.2M | $51.0M | $46.9M | $128.6M | $57.9M | $47.2M | $115.2M | $234.4M |
| Cash & equivalents | $34.7M | $44.7M | $46.2M | $51.0M | $46.9M | $128.6M | $57.9M | $47.2M | $115.2M | $234.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $151.8M | $166.3M | $161.9M | $170.1M | $134.4M | $90.8M | $159.5M | $216.1M | $212.5M | $105.3M |
| Inventory | $239.4M | $265.5M | $299.6M | $269.8M | $241.7M | $251.7M | $414.6M | $479.0M | $443.2M | $338.6M |
| Other current assets | $23.0M | $19.2M | $21.9M | $22.0M | $23.7M | $19.0M | $33.8M | $23.7M | $26.1M | $72.3M |
| Total current assets | $448.9M | $495.6M | $529.6M | $512.9M | $446.7M | $490.2M | $665.9M | $766.0M | $797.0M | $750.6M |
| Property, plant & equipment (net) | $132.6M | $133.8M | $116.8M | $120.2M | $119.4M | $145.2M | $203.5M | $177.4M | $197.3M | $152.2M |
| Goodwill & intangible assets | $158.3M | $170.9M | $168.0M | $191.5M | $217.4M | $240.4M | $544.6M | $828.7M | $1.20B | $869.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $45.0M | $0 | $59.1M |
| Other non-current assets | $12.6M | $15.6M | $6.7M | $10.2M | $7.8M | $14.1M | $0 | $12.6M | $7.2M | $6.9M |
| Total assets | $752.5M | $816.0M | $821.1M | $834.8M | $791.3M | $889.9M | $1.16B | $1.83B | $2.20B | $1.84B |
| Liabilities | ||||||||||
| Accounts payable | $94.6M | $109.7M | $125.9M | $118.3M | $99.4M | $46.4M | $98.7M | $143.2M | $137.7M | $73.8M |
| Short-term debt | $1.4M | $12.9M | $10.4M | $782,000 | $860,000 | $1.3M | $717,000 | $1.2M | $1.2M | $100,000 |
| Deferred revenue | $34.3M | $8.6M | $14.8M | $14.7M | $17.0M | $9.7M | $10.8M | $11.5M | $10.7M | $12.3M |
| Total current liabilities | $206.5M | $201.9M | $204.3M | $210.3M | $175.7M | $124.9M | $196.8M | $236.9M | $216.3M | $141.8M |
| Long-term debt | $134.5M | $186.5M | $129.6M | $239.1M | $232.4M | $293.4M | $398.9M | $517.5M | $506.8M | $396.7M |
| Lease obligations | $84.0M | $73.1M | $61.5M | $64.6M | $34.7M | $44.5M | $49.9M | — | — | — |
| Other long-term liabilities | $120.3M | $107.7M | $74.5M | $78.3M | $54.2M | $65.4M | $78.2M | $45.1M | $65.5M | $63.7M |
| Total liabilities | $461.3M | $496.1M | $408.4M | $527.7M | $462.2M | $483.7M | $674.0M | $799.5M | $788.5M | $602.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $132,000 | $130,000 | $109,000 | $62,000 | $61,000 | $60,000 | $1.2M | $1.2M | $1.20B | $999.2M |
| Retained earnings (deficit) | −$844.5M | −$834.8M | −$699.5M | −$680.6M | −$684.3M | −$601.7M | −$503.4M | $63.7M | $438.8M | $498.2M |
| Treasury stock | — | — | — | — | −$135.6M | −$134.5M | −$134.5M | −$134.4M | −$134.3M | −$133.9M |
| Accumulated other comprehensive income | −$115.5M | −$123.2M | −$115.2M | −$127.5M | −$101.0M | −$100.4M | −$108.9M | −$115.2M | −$92.0M | −$128.2M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $559,000 |
| Total shareholders' equity | $291.1M | $319.9M | $412.6M | $307.0M | $329.1M | $406.2M | $486.0M | $1.03B | $1.41B | $1.24B |
| Key figures | ||||||||||
| Total debt | $219.9M | $272.6M | $201.4M | $304.5M | $268.0M | $339.2M | $449.5M | $518.7M | $508.0M | $396.8M |
| Net cash (debt) | −$185.2M | −$227.9M | −$155.2M | −$253.5M | −$221.1M | −$210.6M | −$391.6M | −$471.5M | −$392.8M | −$162.4M |
| Working capital | $242.3M | $293.8M | $325.3M | $302.6M | $271.1M | $365.3M | $469.1M | $529.1M | $580.7M | $608.8M |
| Tangible book value | $132.8M | $149.0M | $244.7M | $115.5M | $111.7M | $165.8M | −$58.6M | $201.4M | $213.0M | $366.6M |
| Book value per share | $24.50 | $26.01 | $40.41 | $29.62 | $58.32 | $72.84 | $88.29 | $189.41 | $285.98 | $271.01 |
| Shares outstanding | 11.9M | 12.3M | 10.2M | 10.4M | 5.6M | 5.6M | 5.5M | 5.4M | 4.9M | 4.6M |
| Current ratio | 2.17 | 2.46 | 2.59 | 2.44 | 2.54 | 3.92 | 3.38 | 3.23 | 3.68 | 5.29 |
| Quick ratio | 0.90 | 1.05 | 1.02 | 1.05 | 1.03 | 1.76 | 1.10 | 1.11 | 1.52 | 2.40 |
| Debt / equity | 0.76 | 0.85 | 0.49 | 0.99 | 0.81 | 0.84 | 0.92 | 0.50 | 0.36 | 0.32 |
| Equity / assets | 38.7% | 39.2% | 50.3% | 36.8% | 41.6% | 45.6% | 41.9% | 56.3% | 64.2% | 67.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $33.7M | $37.5M | $34.7M | $31.7M | $39.0M | $31.1M | $44.7M | $33.3M | $31.8M | $48.5M | $46.2M | $37.2M |
| Cash & equivalents | $33.7M | $37.5M | $34.7M | $31.7M | $39.0M | $31.1M | $44.7M | $33.3M | $31.8M | $48.5M | $46.2M | $37.2M |
| Short-term investments | — | — | — | — | — | — | $39,000 | — | — | — | — | — |
| Receivables | $174.0M | $168.5M | $151.8M | $163.3M | $169.7M | $165.6M | $153.9M | $180.8M | $178.6M | $174.4M | $161.9M | $167.0M |
| Inventory | $233.5M | $236.4M | $239.4M | $248.3M | $260.0M | $263.6M | $265.5M | $286.9M | $291.1M | $303.0M | $299.6M | $302.3M |
| Other current assets | $42.3M | $21.9M | $23.0M | $16.0M | $19.1M | $18.3M | $31.6M | $22.7M | $19.8M | $20.9M | $21.9M | $24.7M |
| Total current assets | $483.5M | $464.3M | $448.9M | $459.3M | $487.7M | $478.6M | $495.6M | $523.7M | $521.3M | $546.8M | $529.6M | $531.2M |
| Property, plant & equipment (net) | $128.8M | $132.8M | $132.6M | $133.6M | $135.8M | $130.0M | $133.8M | $137.5M | $137.6M | $142.5M | $116.8M | $117.8M |
| Goodwill & intangible assets | $144.6M | $151.7M | $158.3M | $161.0M | $168.9M | $165.9M | $170.9M | $307.9M | $312.5M | $324.6M | $168.0M | $173.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $13.8M | $14.2M | $12.6M | $16.2M | $17.7M | $15.7M | $15.6M | $4.6M | $5.3M | $7.5M | $6.7M | $6.5M |
| Total assets | $770.7M | $763.1M | $752.5M | $770.1M | $810.1M | $790.1M | $816.0M | $973.7M | $976.8M | $1.02B | $821.1M | $828.9M |
| Liabilities | ||||||||||||
| Accounts payable | $118.8M | $114.7M | $94.6M | $113.7M | $106.1M | $106.9M | $109.7M | $117.2M | $111.2M | $108.3M | $125.9M | $124.1M |
| Short-term debt | $1.3M | $1.4M | $1.4M | $1.4M | $1.7M | $1.8M | $12.9M | $69.4M | $6.5M | $5.2M | $10.4M | $1.1M |
| Deferred revenue | $15.3M | $28.7M | $34.3M | $25.0M | $24.0M | $14.8M | $13.1M | $13.9M | $14.5M | $14.8M | $14.8M | $18.9M |
| Total current liabilities | $220.6M | $208.6M | $206.5M | $209.6M | $202.3M | $194.7M | $201.9M | $271.0M | $194.1M | $193.1M | $204.3M | $208.3M |
| Long-term debt | $142.4M | $152.3M | $134.5M | $138.5M | $157.7M | $169.5M | $186.5M | $162.2M | $246.3M | $282.3M | $129.6M | $128.5M |
| Lease obligations | $83.8M | $86.5M | $84.0M | $85.2M | $80.2M | $70.7M | $73.1M | $57.9M | $57.5M | $59.9M | $61.5M | $62.6M |
| Other long-term liabilities | $117.9M | $121.4M | $120.3M | $124.6M | $116.0M | $105.8M | $107.7M | $97.0M | $94.3M | $99.8M | $74.5M | $75.0M |
| Total liabilities | $480.9M | $482.4M | $461.3M | $472.8M | $475.9M | $470.1M | $496.1M | $530.2M | $534.8M | $575.2M | $408.4M | $411.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $135,000 | $135,000 | $132,000 | $132,000 | $132,000 | $132,000 | $130,000 | $130,000 | $130,000 | $130,000 | $109,000 | $109,000 |
| Retained earnings (deficit) | −$827.6M | −$840.0M | −$844.5M | −$846.5M | −$826.0M | −$833.7M | −$834.8M | −$731.3M | −$716.5M | −$709.8M | −$699.5M | −$682.7M |
| Accumulated other comprehensive income | −$122.0M | −$119.1M | −$115.5M | −$118.0M | −$113.7M | −$122.7M | −$123.2M | −$101.2M | −$115.4M | −$116.1M | −$115.2M | −$126.3M |
| Total shareholders' equity | $289.8M | $280.7M | $291.1M | $297.3M | $334.2M | $320.0M | $319.9M | $443.5M | $442.0M | $446.2M | $412.6M | $417.1M |
| Key figures | ||||||||||||
| Total debt | $227.5M | $240.2M | $219.9M | $225.2M | $239.5M | $242.1M | $272.6M | $289.4M | $310.4M | $347.4M | $201.4M | $192.2M |
| Net cash (debt) | −$193.8M | −$202.7M | −$185.2M | −$193.5M | −$200.6M | −$211.0M | −$227.9M | −$256.1M | −$278.6M | −$298.9M | −$155.2M | −$155.0M |
| Working capital | $263.0M | $255.7M | $242.3M | $249.7M | $285.5M | $283.9M | $293.8M | $252.7M | $327.2M | $353.7M | $325.3M | $322.9M |
| Tangible book value | $145.2M | $128.9M | $132.8M | $136.3M | $165.3M | $154.2M | $149.0M | $135.6M | $129.5M | $121.6M | $244.7M | $243.7M |
| Book value per share | $24.61 | $24.11 | $24.09 | $24.55 | $26.62 | $25.46 | $26.01 | $35.97 | $35.85 | $36.57 | $40.45 | $40.13 |
| Shares outstanding | 11.8M | 11.6M | 12.1M | 12.1M | 12.6M | 12.6M | 12.3M | 12.3M | 12.3M | 12.2M | 10.2M | 10.4M |
| Current ratio | 2.19 | 2.23 | 2.17 | 2.19 | 2.41 | 2.46 | 2.46 | 1.93 | 2.69 | 2.83 | 2.59 | 2.55 |
| Quick ratio | 0.94 | 0.99 | 0.90 | 0.93 | 1.03 | 1.01 | 0.98 | 0.79 | 1.08 | 1.15 | 1.02 | 0.98 |
| Debt / equity | 0.79 | 0.86 | 0.76 | 0.76 | 0.72 | 0.76 | 0.85 | 0.65 | 0.70 | 0.78 | 0.49 | 0.46 |
| Equity / assets | 37.6% | 36.8% | 38.7% | 38.6% | 41.3% | 40.5% | 39.2% | 45.5% | 45.3% | 43.7% | 50.3% | 50.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
FET financial position
At the end of fiscal 2025 (December 31, 2025), Forum Energy Technologies had total assets of $752.5 million (down 7.8% from a year earlier), total liabilities of $461.3 million and shareholders' equity of $291.1 million. It held $34.7 million in cash and short-term investments against $219.9 million of debt, net debt of $185.2 million. Its current ratio was 2.17. In the latest quarter (ended June 30, 2026) total assets were $770.7 million and equity $289.8 million.
Related: FET income statement, FET cash flow statement, FET key metrics. See the FET stock overview for the latest quote and news.
FET balance sheet FAQ
What are Forum Energy Technologies's total assets?
Forum Energy Technologies reported total assets of $752.5 million at the end of fiscal 2025 (December 31, 2025), compared with $816.0 million a year earlier.
How much debt does Forum Energy Technologies have?
Forum Energy Technologies had $219.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.76.
How much cash does Forum Energy Technologies have?
Forum Energy Technologies held $34.7 million in cash and short-term investments at the end of fiscal 2025; with $219.9 million of debt that is net debt of $185.2 million.
What is Forum Energy Technologies's book value?
Forum Energy Technologies's shareholders' equity (book value) was $291.1 million at the end of fiscal 2025, or $24.50 per share.
What is Forum Energy Technologies's current ratio?
Forum Energy Technologies had current assets of $448.9 million and current liabilities of $206.5 million, a current ratio of 2.17 (it can cover its short-term obligations).
How much goodwill does Forum Energy Technologies have?
Forum Energy Technologies carried $158.3 million of goodwill and intangible assets, 21.0% of total assets, at the end of fiscal 2025.