Company Analysis

Forum Energy Technologies, Inc. (FET)

NYSE: FET · Oil & Gas Field Machinery & Equipment · Houston, TX · filing with the SEC since 2007
Grade4.1
◀ Past 3.4● Present 4.3▶ Future 4.5

The grade of Forum Energy Technologies, Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.1/10
◀ Past3.430% of the headline
● Present4.340% of the headline
▶ Future4.530% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

3.4/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed
2.9/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2020-03-12.

weight 33% of this tense · 29th percentile among 17 sector filers · read for itself

From the record

Forum Energy Technologies, Inc.'s filings since 2017 show 2 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2020-03-12); an auditor change (8-K item 4.01, the latest 2019-03-26) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.8/10

What has it actually done, year after year?

+3.4% a year over 10 filed years; profitable in 1 of 10.

weight 45% of this tense · 28th percentile among 15 sector filers · read for its customers

From the record

Forum Energy Technologies, Inc.'s 10 filed years say what it did: revenue went from $588 million in fiscal 2016 to $791 million in fiscal 2025, up 3.4% a year; it rose in 6 of 9 years; the deepest fall was 52% from fiscal 2018 to fiscal 2020; net income was positive in 1 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span3.4%bottom 43% of its family
  • the share of years revenue rosebottom 47% of its family
  • the share of filed years with a profitbottom 13% of its family
  • the deepest fall from a revenue peak51.8%bottom 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
5.2/10

How has it treated the people who own it?

Share count grew 25.9% a year. 24% of cash flow returned. Insiders: 15 sales, 0 purchases.

weight 22% of this tense · 52nd percentile among 9 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Forum Energy Technologies, Inc.'s diluted share count grew about 25.9% a year, and dividends and buybacks returned about 24% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 15 sales (5 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-10-27 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 23% of its family
  • cash returned against operating cash flowtop 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.3/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
5.3/10

Is it financially healthy right now?

ROE -3%: lost 3¢ per shareholder dollar. Leverage 61%: owes 61¢ per asset dollar.

weight 45% of this tense · 53rd percentile among 16 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Forum Energy Technologies, Inc. lost about 3 cents for every dollar of shareholders' money, and gross profitability: its products earned about 29 cents per dollar of everything the company owns. Leverage: it owed about 61 cents per dollar of assets, and net share issuance: its share count shrank 3.4% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 34% of its family
  • return on equitybottom 22% of its family
  • gross profit against assetstop 14% of its family
  • the share count against the year beforetop 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
3.4/10

How strong is its position in its industry?

bottom 34% of 16 in its family; net margin -1.2%.

weight 33% of this tense · 34th percentile among 16 sector filers · read for its customers

From the record

Forum Energy Technologies, Inc.'s standing among 16 graded names in its industry family: revenue of $791 million in fiscal 2025 ranks in the top 47% by size; a net margin of -1.2% ranks in the bottom 28%; revenue growth of 4.2% a year over the last 3 filed years ranks in the bottom 22% (its annual reports).

What it rests on

  • revenue against the family$791Mtop 47% of its family
  • net margin-1.2%bottom 28% of its family
  • three-year revenue growth4.2%bottom 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
3.5/10

What are the people in charge doing?

bottom 35% of 10 in its family for leadership; chief executive since 2022.

weight 22% of this tense · 35th percentile among 10 sector filers · read for its shareholders

From the record

Forum Energy Technologies, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Lux, Neal (President & CEO, as filed), filing under that title since 2022-02-22, 4.7 years (bottom 35% of its family); the 15 officers and directors filing in the last fifteen months have been on the record a median of 6.5 years (bottom 45%); 8 officer or director changes were reported on Form 8-K since 2023-11-13, against the 15 people in charge now (bottom 25%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge8 in three years among 15 peoplebottom 25% of its family
  • the median years the people in charge have filed6.5 yearsbottom 45% of its family
  • the chief executive's years on the record4.7 yearsbottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.5/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.6/10

How much room does it have to grow?

bottom 36% of 16 in its family for room to expand.

weight 45% of this tense · 36th percentile among 16 sector filers · read for itself

From the record

Forum Energy Technologies, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $35 million against debt of $136 million leaves -13.5% of its assets as net cash, bottom 9% of its family; cash from operations less capital spending is 8.1% of revenue (bottom 41%); a gross margin of 27.7% (top 41%) (its annual report).

What it rests on

  • cash less debt against assets-13.5%bottom 9% of its family
  • cash from operations less capital spending against revenue8.1%bottom 41% of its family
  • gross margin27.7%top 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.2/10

What could actually drive growth from here?

bottom 42% of 15 in its family for growth drivers.

weight 33% of this tense · 42nd percentile among 15 sector filers · read for its customers

From the record

Forum Energy Technologies, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 4.2% a year over the last three filed years against 3.4% over all 10, speeding up (top 37% of its family); the newest year grew -3.1% (bottom 37%); capital spending grew -7.1% a year (bottom 25%) (its annual reports). Forum Energy Technologies, Inc. reported 2 lines of business in fiscal 2025: Drilling and Completions at $477 million, Artificial Lift and Downhole at $315 million. 1 of 2 grew in the latest filed year, and the largest line is 60% of revenue (its annual report).

What it rests on

  • three-year growth against the whole span+0.8 points a yeartop 37% of its family
  • the newest year's revenue growth-3.1%bottom 37% of its family
  • three-year growth of capital spending-7.1%bottom 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
6.8/10

Did its newest year beat what its own record pointed to?

top 32% of 14 in its family for expectations against reality.

weight 22% of this tense · 68th percentile among 14 sector filers · read for its shareholders

From the record

Forum Energy Technologies, Inc.'s newest year against its own record: revenue of $791 million in fiscal 2025 came in 10.2% below the $882 million its prior three years' pace pointed to (bottom 39% of its family); net income of $10 million against a prior three-year average of $50 million (top 18%); a net margin of -1.2% against -6.2% before (top 18%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-10.2%bottom 39% of its family
  • net income against the prior three years' average+81%top 18% of its family
  • net margin against its prior average+5.0 pointstop 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton FET · research, not advice