FET - FORUM ENERGY TECHNOLOGIES, INC.

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Revenue Growth YoY (%)	-3.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-161%)	10.5% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+110%)	5.6% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+11%)	29.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+487%)	5.6% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+12%)	-46.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1028%)	-10.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-302%)	30.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+500%)	39.3% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+686%)	-45.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1005%)	-38.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-866%)	14.1% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+182%)	7.8% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+55%)	25.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+408%)	51.0% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+919%)	—	—
EPS Growth YoY (%)	92.6% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-494.6% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	15.7% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	83.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-49.7% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	-473.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	33.3% Excellent → Excellent Stable Year-over-year change in earnings per share Optimal: > 10%	32.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	31.5% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	-24.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	27.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	236.4% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	92.9% Excellent Excellent Year-over-year change in net income	-616.9% Weak Weak Year-over-year change in net income	N/M	N/M	14.7% Fair ↑ Fair Improving Year-over-year change in net income	82.9% Excellent ↑ Excellent Improving Year-over-year change in net income	-51.6% Weak ↑ Weak Improving Year-over-year change in net income	-529.8% Weak ↓ Weak Declining Year-over-year change in net income	27.5% Excellent ↓ Excellent Declining Year-over-year change in net income	31.3% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	34.6% Excellent ↓ Excellent Declining Year-over-year change in net income	-14.5% Weak ↓ Weak Declining Year-over-year change in net income	62.3% Excellent Excellent Year-over-year change in net income	289.9% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	-20.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	29098.5% Excellent Excellent Year-over-year change in free cash flow	N/M	-32.6% Weak Weak Year-over-year change in free cash flow	N/M	-98.2% Weak Weak Year-over-year change in free cash flow	N/M	70.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	N/M	-61.8% Weak ↓ Weak Declining Year-over-year change in free cash flow	-41.1% Weak ↓ Weak Declining Year-over-year change in free cash flow	40.1% Excellent Excellent Year-over-year change in free cash flow	51.3% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	—	—
Revenue CAGR 3Y (%)	4.2% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	14.7% Good ↑ Good Improving Compound annual revenue growth over 3 years	13.0% Good ↑ Good Improving Compound annual revenue growth over 3 years	-9.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-20.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-14.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	17.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	-0.3% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-22.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-27.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-8.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	15.5% Excellent Excellent Compound annual revenue growth over 3 years	26.8% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	9.1% Good ↑ Good Improving Compound annual revenue growth over 5 years	-3.1% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-7.0% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-3.1% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-1.6% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-13.7% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-11.3% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-6.9% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-10.4% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-12.2% Weak Weak Compound annual revenue growth over 5 years	7.5% Fair Fair Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	—	—	—	—	—	—	—	—	—	—	8.3% Fair Fair Compound annual EPS growth over 3 years	48.1% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Operating Margin (%) (%)	3.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-75%)	-10.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-171%)	2.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	2.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-83%)	-8.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-155%)	-45.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-401%)	-56.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-474%)	-37.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-349%)	-17.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-215%)	-21.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-246%)	-10.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-171%)	15.4% Fair → Fair Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	13.7% Fair → Fair Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-8%)	17.0% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+13%)	14.2% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-5%)	9.8% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	—
Effective Tax Rate (%) (%)	158.2% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-5.4% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-141.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	64.1% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.8% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	11.7% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	-1.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	-16.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-307%)	-2.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-132%)	0.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	-15.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-291%)	-18.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-336%)	-59.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-841%)	-35.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-539%)	-7.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-191%)	-14.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-274%)	-11.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-239%)	10.0% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+25%)	8.5% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+6%)	10.7% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+34%)	8.3% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	3.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-60%)	—
FCF Margin (%) (%)	8.1% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	10.3% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	0.0% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-3.5% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-3.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	0.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	9.3% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-2.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-8.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	8.2% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	11.5% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	12.4% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	9.9% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	6.2% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-0.2% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	6.2% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-6.67x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.62x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.01x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-6.61x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.22x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.02x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.16x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.06x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	1.12x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	-0.58x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.04x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.24x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.17x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.58x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.02x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	1.94x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Return on Invested Capital (%)	-4.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-18.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	9.2% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	1.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-8.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-29.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-87.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-30.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-7.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-7.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	15.2% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	12.4% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	16.4% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	19.4% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	4.0% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	-10.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	2.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-26.0% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	-46.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-21.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-6.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-7.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-6.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	12.1% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	9.7% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	12.7% Good Good Operating profit relative to total assets Optimal: > 10%	10.0% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-3.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-128%)	-42.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-453%)	-4.6% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-138%)	1.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-90%)	-25.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-309%)	-23.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-299%)	-116.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1072%)	-36.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-403%)	-4.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-135%)	-6.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-155%)	-9.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-179%)	12.5% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	9.7% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-19%)	13.0% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+9%)	14.3% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+19%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Debt to Equity (x)	0.47x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-7%)	0.59x Good → Good Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+18%)	0.32x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-37%)	0.78x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+56%)	0.71x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+42%)	0.72x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+44%)	—	—	—	—	—	—	—	—	—	—	—
Interest Coverage (x)	1.78x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-3.24x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	1.21x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.68x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-1.64x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-9.75x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-16.79x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-13.12x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	—	-4.70x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-3.80x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	8.98x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	11.41x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	14.71x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	8.22x Good Good Operating income divided by interest expense Optimal: > 5x	4.03x Fair Fair Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$101.27M	$143.73M	$84.59M	$188.88M	$186.37M	$164.76M	$-57.91M	$-47.24M	$-115.22M	$-234.42M	$-109.25M	$-76.58M	$-39.58M	$-41.06M	$-20.55M	$-20.35M	$-26.89M
Debt / EBITDA (x)	2.13x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-5.70x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.36x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.42x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-100.66x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.62x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Revenue per Share (USD)	$66.61	$66.38	$72.35	$121.79	$95.88	$91.89	$173.76	$195.68	$165.90	$128.83	$238.83	$375.64	$336.24	$353.24	$356.61	$277.83	—
Basic EPS, GAAP (USD)	$-0.81	$-11.00	$-1.85	$0.65	$-14.65	$-17.37	$-103.00	$-68.80	$-12.00	$-18.00	$-26.60	$37.60	$28.60	$37.80	$29.60	$8.80	—
Free Cash Flow per Share (USD)	$5.42	$6.83	$0.02	$-4.27	$-3.22	$0.29	$16.17	$-3.98	$-13.53	$10.50	$27.50	$46.68	$33.33	$22.03	$-0.60	$17.23	—
Book Value per Share (USD)	$24.50	$26.01	$40.41	$53.43	$58.32	$72.84	$88.29	$189.41	$285.55	$270.80	$279.62	$301.28	$293.36	$289.97	$206.89	—	—
Tangible Book Value per Share (USD)	$11.18	$12.12	$23.96	$20.11	$19.80	$29.73	$38.83	$37.04	$42.70	$80.25	$75.93	$70.20	$51.31	$51.99	$-59.32	—	—
Basic Weighted Avg Shares (shares)	11.88M	12.30M	10.21M	5.75M	5.64M	5.58M	5.50M	5.44M	4.93M	4.56M	4.50M	4.63M	4.53M	4.01M	3.16M	2.69M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Working Capital (USD)	$242.35M	$293.78M	$325.26M	$302.57M	$271.08M	$365.26M	$469.07M	$529.09M	$574.08M	$607.87M	$566.26M	$612.97M	$589.49M	$494.00M	$363.93M	—	—
LT Debt (USD)	$135.93M	$188.39M	$130.75M	$239.91M	$233.23M	$293.37M	—	—	—	—	—	—	—	—	—	—	—
Total Equity (USD)	$291.14M	$319.90M	$412.63M	$307.04M	$329.13M	$406.24M	$486.04M	$1.03B	$1.41B	$1.24B	$1.26B	$1.40B	$1.33B	$1.16B	$654.49M	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Sales/Revenue/Turnover (USD)	$791.47M	$816.42M	$738.86M	$699.91M	$541.07M	$512.48M	$956.53M	$1.06B	$818.62M	$587.63M	$1.07B	$1.74B	$1.52B	$1.41B	$1.13B	$747.34M	—
Depreciation Expense (USD)	$33.76M	$53.72M	$34.73M	$36.98M	$42.18M	$51.00M	$63.24M	$74.51M	$65.13M	$35.64M	$38.39M	$37.41M	$36.17M	$51.80M	$40.77M	$33.22M	—
Net Income, GAAP (USD)	$-9.66M	$-135.33M	$-18.88M	$3.71M	$-82.65M	$-96.89M	$-567.06M	$-374.08M	$-59.40M	$-81.98M	$-119.35M	$174.37M	$129.54M	$151.46M	$93.34M	$23.94M	—
Operating Cash Flow (USD)	$70.40M	$92.19M	$8.18M	$-17.05M	$-15.78M	$3.88M	$104.14M	$2.41M	$-40.03M	$64.74M	$155.91M	$269.97M	$211.39M	$137.94M	$39.27M	$65.98M	—

FORUM ENERGY TECHNOLOGIES, INC.

Analytical Summary

17-Year Financial Trajectory

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