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MARKETS / NYSE / FET
NYSE · OIL & GAS FIELD MACHINERY & EQUIPMENT · MID CAP

Forum Energy Technologies, Inc. FET

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$791.5M
▼ 3.1% YoY
$-9.7M
$64.4M
▼ 23.4% YoY
In brief

What this company does

Forum Energy Technologies, Inc. manufactures capital equipment and consumable products for customers that include oil and natural gas operators, oilfield service companies, pipeline and refinery operators, defense contractors and renewable energy companies. In 2025, approximately 80% of its revenue was derived from consumable products and activity-based equipment, with the balance derived primarily from capital products and a small amount from rental and other services. Its backlog was approximately $311.6 million at December 31, 2025, compared with $213.5 million a year earlier. As of December 31, 2025, it had approximately 1,700 employees, with approximately 1,000 in the United States, 200 in the United Kingdom, 100 in Germany, 300 in Canada and 100 in other locations. Its Drilling and Completions segment designs, manufactures and supplies products and solutions to the drilling, subsea, coiled tubing, well stimulation and intervention markets, including applications in the oil and natural gas, renewable energy, defense and communications industries. Its Artificial Lift and Downhole segment designs, manufactures and supplies products and solutions for the artificial lift, well construction, production and infrastructure markets.

Written from the business description in FORUM ENERGY TECHNOLOGIES, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 791.5M
Revenue, FY2025 · full 16-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.8 · Net income -0.0
0.8B1.6B-0.2B-0.4B201020122014201620182020202220242025
Compound annual growth
+4.2%
+9.1%
−3.0%
+0.4%
+108.4%
+181.7%
+40.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−1 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 3.8% · Net -1.2%
5%10%15%-20%-40%201020122014201620182020202220242025
ROE
FY2025 · ROE -3.2%
5%10%15%-20%-40%-60%201020122014201620182020202220242025

Each USD of equity lost 3 cents this year.

Cash & shareholders
USD 34.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 64.4
80.0M160.0M-25.0M-50.0M201020122014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 34.6
40M80M-40M-80M201020122014201620182020202220242025

USD 34.6M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 752.5M
EquityUSD 291.1M
CashUSD 34.7M
Gross debtUSD 135.9M
Net debtUSD 101.3M
Current ratio2.17×

Net debt stands at 35% of equity.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.80.80.70.70.50.51.01.10.80.61.11.71.51.41.10.7
Operating income $B0.0−0.10.00.0−0.0−0.2−0.5−0.4−0.1−0.1−0.10.30.20.20.20.1
EBITDA $B0.1−0.00.10.1−0.0−0.2−0.5−0.3−0.1−0.1−0.10.30.20.30.20.1
Income tax $B0.00.00.00.00.0−0.0−0.0−0.00.0−0.1−0.00.10.10.10.00.0
Net income $B−0.0−0.1−0.00.0−0.1−0.1−0.6−0.4−0.1−0.1−0.10.20.10.20.10.0
Free cash flow $B0.10.10.0−0.0−0.00.00.1−0.0−0.10.00.10.20.20.1−0.00.0
EPS, diluted $−0.81−11.00−1.850.62−14.65−17.37−103.01−3.44−0.60−0.90−1.331.831.371.741.380.44
Dividend / sh $················
Payout %················
ROE %−3.2−36.9−5.21.2−22.5−21.7−74.8−30.7−4.5−6.6−9.012.810.416.714.3·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 78 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 17 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityOil & Gas Field Machinery & Equipment
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2010

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