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Forum Energy Technologies, Inc., a Delaware corporation (the Company, FET, we, our or us ), is a global manufacturing company serving the oil, natural gas, defense and renewable energy industries. Our common shares are listed on the New York Stock Exchange ( NYSE ) and NYSE Texas under the symbol FET.
Operating margin is thin at 3.81%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 3.1% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 23% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$791M
▼ -3.1% YoY
Net Income (TTM)
-$10M
▲ +92.9% YoY
Op. Margin
3.81%
▲ +14.4pp YoY
ROIC
4.24%
▲ +15.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$64M
▼ -23.4% YoY
Op. Cash Flow (TTM)
$70M
▼ -23.6% YoY
Net Debt
$201M
Cash & Equiv.
$35M
5Y CAGR: +9.1%
5Y CAGR: +108.4%
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