FET FORUM ENERGY TECHNOLOGIES, INC.

Overview and Growth

In fiscal 2025, FORUM ENERGY TECHNOLOGIES, INC. recorded $791.47M of revenue, net loss of $9.66M, and an operating cash inflow of $70.40M. The $791.47M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line contracted 3.1% from $816.42M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. Diluted earnings per share were -$0.81, translating the period’s attributable earnings into the amount reported for each diluted share. Revenue equaled 1.05x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $219.04M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 27.7% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $30.14M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 3.8% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all below-operating-line items, the company recorded a net loss of $9.66M for the fiscal year. Net margin was -1.2%, reflecting a loss equal to 1.2% of reported revenue. The earnings statement records $16.59M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 2.1%, adding a pre-tax profitability layer between revenue and net income. Income tax expense totaled $26.25M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 158.2%, quantifying the portion of pre-tax earnings paid in income tax. The loss-to-equity relationship was 3.3%, placing the bottom-line deficit against shareholder capital.

Liquidity and Capital Structure

At period end, the $752.46M asset base was financed through $461.31M of liabilities and $291.14M of equity. Current assets were $448.88M against $206.53M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 2.17x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $34.66M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 16.8% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $135.93M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.47x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 18.1% of total assets, placing borrowing in the context of the company’s full resource base. Relative to total assets, liabilities measured 61.3%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 4.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $815.95M in fiscal 2024, the current asset base moved 7.8% and finished lower.

Cash Flow and Earnings Quality

The company reported $70.40M of operating cash flow, a cash inflow that shows the cash generated by operations. Capital expenditures used $6.01M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 8.5%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $64.39M of positive free cash flow for the period. Free cash flow represented 8.1% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 8.6%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.