Forum Energy Technologies, Inc. (FET) Key Metrics
FET valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $902.9M
- Enterprise value
- $1.14B
- P/E (TTM)
- —
- Forward P/E
- 15.1
- PEG ratio
- 1.88
- Price / sales
- 1.1 10-yr median 0.4
- Price / book
- 3.3 10-yr median 0.6
- EV / EBITDA
- 16.5 10-yr median 8.8
- Dividend yield
- —
- Beta
- 0.68
FET key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFET valuation Price multiples at each fiscal year-end price.
FET returns How much profit the business earns on the capital it uses.
FET per-share figures Results divided by the shares outstanding at year-end.
FET financial health Debt, liquidity and how easily interest is covered.
FET efficiency & capital use Working capital cycle and where the cash goes.
FET valuation history
FET returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FET debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FET cash returned to shareholders
FET price vs earnings per share
FET key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $439.1M | $190.5M | $226.4M | $305.8M | $90.6M | $66.4M | $185.0M | $449.2M | $1.53B | $2.01B |
| Enterprise value | $624.3M | $418.4M | $381.6M | $559.3M | $311.7M | $277.0M | $576.6M | $920.7M | $1.93B | $2.17B |
| P/E ratio | — | — | — | 82.4 | — | — | — | — | — | — |
| Price / sales | 0.6 | 0.2 | 0.3 | 0.4 | 0.2 | 0.1 | 0.2 | 0.4 | 1.9 | 3.4 |
| Price / book | 1.5 | 0.6 | 0.5 | 1.0 | 0.3 | 0.2 | 0.4 | 0.4 | 1.1 | 1.6 |
| Price / free cash flow | 6.8 | 2.3 | 947.3 | — | — | 40.5 | 2.1 | — | — | 34.8 |
| Price / operating cash flow | 6.2 | 2.1 | 27.7 | — | — | 17.1 | 1.8 | 186.6 | — | 31.2 |
| EV / sales | 0.8 | 0.5 | 0.5 | 0.8 | 0.6 | 0.5 | 0.6 | 0.9 | 2.4 | 3.7 |
| EV / EBITDA | 9.1 | — | 8.4 | 7.1 | — | — | — | — | 52.6 | — |
| EV / free cash flow | 9.7 | 5.0 | — | — | — | 169.2 | 6.5 | — | — | 37.6 |
| Earnings yield | −2.2% | −71.0% | −8.3% | 1.2% | −91.3% | −146.0% | −306.6% | −83.3% | −3.7% | −4.1% |
| Free cash flow yield | 14.7% | 44.1% | 0.1% | −8.0% | −20.1% | 2.5% | 48.1% | −4.8% | −4.2% | 2.9% |
| Dividend yield | — | — | — | — | — | — | — | — | 7.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 7.9% | 0.6% | 2.6% | 1.3% | 1.6% | 0.3% | 0.6% | 0.6% | 7.3% | 0.0% |
| Share price at fiscal year-end | $36.95 | $15.49 | $22.17 | $29.50 | $16.05 | $11.90 | $33.60 | $82.60 | $311.00 | $440.00 |
| Per share | ||||||||||
| Revenue per share | $66.61 | $66.38 | $72.35 | $67.52 | $95.89 | $91.90 | $173.76 | $195.68 | $165.88 | $128.86 |
| Earnings per share | −$0.81 | −$11.00 | −$1.85 | $0.36 | −$14.66 | −$17.37 | −$103.01 | −$68.78 | −$11.57 | −$17.98 |
| Operating cash flow per share | $5.92 | $7.50 | $0.80 | −$1.65 | −$2.80 | $0.70 | $18.91 | $0.44 | −$8.11 | $14.10 |
| Free cash flow per share | $5.42 | $6.83 | $0.02 | −$2.37 | −$3.23 | $0.29 | $16.17 | −$3.98 | −$13.11 | $12.65 |
| Cash per share | $2.92 | $3.63 | $4.52 | $4.92 | $8.30 | $23.06 | $10.52 | $8.69 | $23.34 | $51.40 |
| Book value per share | $24.50 | $26.01 | $40.41 | $29.62 | $58.32 | $72.84 | $88.29 | $189.41 | $285.98 | $271.01 |
| Tangible book value per share | $11.18 | $12.12 | $23.96 | $11.15 | $19.80 | $29.74 | −$10.64 | $37.04 | $43.16 | $80.40 |
| Dividends per share | — | — | — | — | — | — | — | — | $21.76 | $0.02 |
| Capex per share | $0.51 | $0.66 | $0.78 | $0.72 | $0.43 | $0.40 | $2.74 | $4.42 | $5.01 | $1.45 |
| Debt per share | $18.50 | $22.16 | $19.72 | $29.38 | $47.49 | $60.83 | $81.66 | $95.38 | $102.94 | $87.03 |
| Shares outstanding | 11.9M | 12.3M | 10.2M | 10.4M | 5.6M | 5.6M | 5.5M | 5.4M | 4.9M | 4.6M |
| Change in shares outstanding | −3.4% | +20.4% | −1.5% | +83.7% | +1.2% | +1.3% | +1.2% | +10.2% | +8.2% | +1.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −3.2% | −36.9% | −5.2% | 1.2% | −22.5% | −21.7% | −74.8% | −30.6% | −4.3% | −6.6% |
| Return on invested capital (ROIC) | 1.9% | −12.3% | 2.9% | 1.6% | −6.2% | −24.5% | −35.6% | −19.0% | −7.0% | −6.9% |
| Return on assets (ROA) | −1.2% | −16.5% | −2.3% | 0.5% | −9.8% | −9.5% | −37.9% | −18.6% | −2.8% | −4.4% |
| Return on tangible assets | −1.6% | −21.0% | −2.9% | 0.6% | −14.4% | −14.9% | −92.1% | −37.4% | −5.7% | −8.5% |
| Free cash flow margin | 8.1% | 10.3% | 0.0% | −3.5% | −3.4% | 0.3% | 9.3% | −2.0% | −7.9% | 9.8% |
| Income quality (OCF / net income) | — | — | — | −4.59 | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $219.9M | $272.6M | $201.4M | $304.5M | $268.0M | $339.2M | $449.5M | $518.7M | $508.0M | $396.8M |
| Cash & short-term investments | $34.7M | $44.7M | $46.2M | $51.0M | $46.9M | $128.6M | $57.9M | $47.2M | $115.2M | $234.4M |
| Net debt | $185.2M | $227.9M | $155.2M | $253.5M | $221.1M | $210.6M | $391.6M | $471.5M | $392.8M | $162.4M |
| Debt / equity | 0.76 | 0.85 | 0.49 | 0.99 | 0.81 | 0.84 | 0.92 | 0.50 | 0.36 | 0.32 |
| Debt / assets | 0.29 | 0.33 | 0.25 | 0.36 | 0.34 | 0.38 | 0.39 | 0.28 | 0.23 | 0.22 |
| Net debt / EBITDA | 2.70 | — | 3.43 | 3.21 | — | — | — | — | 10.72 | — |
| Current ratio | 2.17 | 2.46 | 2.59 | 2.44 | 2.54 | 3.92 | 3.38 | 3.23 | 3.68 | 5.29 |
| Quick ratio | 1.01 | 1.14 | 1.13 | 1.16 | 1.17 | 1.91 | 1.28 | 1.21 | 1.64 | 2.91 |
| Interest coverage | 1.0 | -2.8 | 1.1 | 0.5 | -1.4 | -7.7 | -17.0 | -12.2 | -5.3 | -4.7 |
| Working capital | $242.3M | $293.8M | $325.3M | $302.6M | $271.1M | $365.3M | $469.1M | $529.1M | $580.7M | $608.8M |
| Invested capital | $476.4M | $547.8M | $567.9M | $560.5M | $550.2M | $616.9M | $877.6M | $1.50B | $1.80B | $1.40B |
| Tangible asset value | $132.8M | $149.0M | $244.7M | $115.5M | $111.7M | $165.8M | −$58.6M | $201.4M | $213.0M | $366.6M |
| Net current asset value | −$12.4M | −$417,000 | $121.2M | −$14.9M | −$15.5M | $6.5M | −$8.0M | −$33.5M | $8.5M | $148.4M |
| Graham number | — | — | — | $15.45 | — | — | — | — | — | — |
| Graham net-net per share | −$16.25 | −$15.77 | −$8.91 | −$20.67 | −$34.32 | −$28.89 | −$52.51 | −$64.49 | −$59.24 | −$26.21 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $107.4M | $92,000 |
| Share buybacks (net) | $34.6M | $1.1M | $6.0M | $3.8M | $1.4M | $195,000 | $1.1M | $2.8M | $4.7M | $623,000 |
| Dividends + buybacks / free cash flow | 53.8% | 1.3% | — | — | — | 11.9% | 1.2% | — | — | 1.2% |
| Capex / revenue | 0.8% | 1.0% | 1.1% | 1.1% | 0.4% | 0.4% | 1.6% | 2.3% | 3.0% | 1.1% |
| Capex / operating cash flow | 8.5% | 8.8% | 97.1% | — | — | 57.8% | 14.5% | 998.9% | — | 10.3% |
| Capex / depreciation | 0.18 | 0.15 | 0.23 | 0.20 | 0.06 | 0.04 | 0.24 | 0.32 | 0.38 | 0.11 |
| Stock-based compensation / revenue | 1.1% | 0.9% | 0.6% | 0.6% | 1.4% | 1.9% | 1.7% | 1.9% | 2.5% | 3.5% |
| SG&A / revenue | 25.3% | 26.9% | 24.8% | 25.6% | 31.2% | 38.6% | 26.3% | 27.0% | 31.0% | 38.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 73.3 | 73.4 | 82.0 | 79.4 | 76.0 | 89.2 | 71.7 | 73.5 | 70.9 | 75.8 |
| Days of inventory on hand | 161.0 | 183.7 | 194.4 | 182.6 | 215.6 | 232.3 | 229.2 | 208.3 | 226.5 | 285.3 |
| Days payables outstanding | 65.1 | 76.6 | 83.3 | 77.7 | 63.7 | 50.6 | 62.0 | 63.5 | 61.3 | 56.3 |
| Cash conversion cycle (days) | 169.2 | 180.5 | 193.0 | 184.3 | 227.9 | 270.9 | 238.8 | 218.4 | 236.1 | 304.7 |
| Receivables turnover | 4.98 | 4.97 | 4.45 | 4.60 | 4.80 | 4.09 | 5.09 | 4.97 | 5.15 | 4.82 |
| Payables turnover | 5.61 | 4.77 | 4.38 | 4.70 | 5.73 | 7.22 | 5.88 | 5.75 | 5.96 | 6.48 |
| Inventory turnover | 2.27 | 1.99 | 1.88 | 2.00 | 1.69 | 1.57 | 1.59 | 1.75 | 1.61 | 1.28 |
| Asset turnover | 1.01 | 1.00 | 0.89 | 0.86 | 0.64 | 0.50 | 0.64 | 0.53 | 0.41 | 0.31 |
| Average receivables | $159.0M | $164.1M | $166.0M | $152.2M | $112.6M | $125.2M | $187.8M | $214.3M | $158.9M | $122.0M |
| Average payables | $102.1M | $117.8M | $122.1M | $108.8M | $72.9M | $72.5M | $121.0M | $140.4M | $105.7M | $75.3M |
| Average inventory | $252.5M | $282.6M | $284.7M | $255.8M | $246.7M | $333.2M | $446.8M | $461.1M | $390.9M | $381.4M |
| Intangibles / total assets | 21.0% | 20.9% | 20.5% | 22.9% | 27.5% | 27.0% | 46.9% | 45.3% | 54.5% | 47.3% |
Computed from FET's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FET valuation and financial ratios
Forum Energy Technologies earned a return on equity of −3.2% and a return on invested capital of 1.9% in fiscal 2025. It ended the year with $219.9 million of debt and $34.7 million in cash and short-term investments, net debt of $185.2 million. It returned $34.6 million to shareholders: $0 in dividends and $34.6 million in share buybacks, 54% of free cash flow. The share count rose 160.6% from 4.6M to 11.9M over 9 years.
See the FET income statement, the FET chart for price history, or the FET stock overview for the latest quote and news.
FET key metrics FAQ
What is Forum Energy Technologies's EV/EBITDA?
Forum Energy Technologies's enterprise value was 9.1 times EBITDA at the end of fiscal 2025 (enterprise value $624.3 million, EBITDA $68.7 million); the current EV/EBITDA is 16.5.
What is Forum Energy Technologies's return on equity?
Forum Energy Technologies's return on equity (ROE) was −3.2% in fiscal 2025: net income of -$9.7 million on average shareholders' equity of $305.5 million.
What is Forum Energy Technologies's ROIC?
Forum Energy Technologies's return on invested capital was 1.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Forum Energy Technologies have?
Forum Energy Technologies had total debt of $219.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.76 and $185.2 million of net debt (2.70 times EBITDA).
Does Forum Energy Technologies buy back its shares?
Yes. Forum Energy Technologies spent $34.6 million on net share repurchases in fiscal 2025 Shares outstanding changed −3.4% over the year, to 11.9M..
What is Forum Energy Technologies's free cash flow yield?
Forum Energy Technologies generated $64.4 million of free cash flow in fiscal 2025, a free cash flow yield of 14.7% on its market value at year-end ($439.1 million).
What is Forum Energy Technologies's current ratio?
Forum Energy Technologies's current ratio was 2.17 at the end of fiscal 2025: current assets were 2.17 times current liabilities.