Forum Energy Technologies, Inc. (FET) is a leading global company that provides manufactured technologies and applied products to companies in the energy sector, predominantly those engaged in oil and natural gas production. Established in 2005 and headquartered in Houston, Texas, USA, its strategic goal is to grow shareholder value by providing unsurpassed customer service, reliable delivery, and seamless utilities, all under a structurally lean and nimely-mobilized business model.
FET’s primary operational segment comprises two units: Drilling & Downhole and Subsea. The Drilling & Downhole division designs, manufactures, and supplies products and technology for drilling rigs and services, downhole tools, and spare parts. On the other hand, the Subsea unit is mainly involved in developing, manufacturing, and supplying products and engaging services related to subsea operations, including remotely operated vehicles (ROVs), and other robotic systems applied to underwater excavation and construction.
The company is known for manufacturing high-quality, custom-engineer energy equipment that is widely used globally. Excelling in customer service and promoting safe and sustainable operations, FET strives to drive innovation, providing class-leading solutions to its clientele within the energy industry.
FET operates globally and has a strong presence in North America, Europe, the Middle East, and Asia Pacific. A considerable portion of its revenue is gained from the United States and international orders from energy companies. In 2021, FET’s total revenue was approximately $497.2 million. Dedicated to constant evolution, the firm believes in advancing and refining its portfolio aligning the industry demands.
Major products of Forum Energy Technologies include drilling equipment, production equipment, downhole tools, and subsea technologies. Some of its best-known products include drilling jars, shock tools, mud motors, drill bits, and more recently, remotely operated vehicles for underwater work. Renowned for their durability and reliability, these products are highly sought after in the demanding and diverse field of energy production.
Over the past years, FET has added significant value to its stakeholders and continues to make promising strides in its industry. Close to the heart of its operation is a commitment to excellence, safety, and innovation. The company continues to pioneer in the energy sector, driving advanced solutions and products while maintaining a responsible approach to social and environmental stewardship.
Income statement
Balance sheet statement
Cash flow statement
Current assets / Current liabilities
Equity / Debt / Cash
Dividends
Forum Energy Technologies (NYSE: FET) aims to nearly double its revenue and quadruple its adjusted EBITDA by 2030 through a strategy focused on market share gains, product innovation, and international expansion. The company plans to capitalize on growth segments like data center cooling systems and defense-related subsea applications, while also expanding its oilfield products and services globally, particularly in regions like Venezuela and the Middle East. This ambitious plan includes closing the revenue-per-rig gap between international and U.S. markets to significantly boost revenue and cash flow.
Squarepoint Ops LLC significantly increased its stake in Forum Energy Technologies (NYSE:FET) by 795.8% in the second quarter, bringing its total holdings to 38,161 shares valued at approximately $1.9 million. Other institutional investors like BlackRock and Dimensional Fund Advisors also expanded their positions in the oil and gas company. Forum Energy Technologies exceeded quarterly earnings expectations with $1.16 adjusted EPS and $226.2 million in revenue, leading to an average analyst rating of "Moderate Buy."
Forum Energy Technologies, Inc. (FET) is employing a "Beat the Market" strategy to achieve faster growth by gaining market share in specific areas, rather than solely relying on increased oilfield activity. This approach involves leveraging manufacturing expertise, established brands, differentiated technologies, and a global footprint. The strategy has already shown positive results, with a 34% increase in revenue per global rig since 2022, and the company aims to double its market share in targeted sectors by 2030, particularly through international expansion.
Concurrent Investment Advisors LLC has acquired 36,048 shares of Forum Energy Technologies, Inc. (NYSE:FET) in Q2, valued at $1.81 million, representing a 0.32% stake. This comes as Forum Energy Technologies reported strong quarterly earnings, beating analyst estimates for both EPS and revenue. FET shares opened at $80.64, near their 12-month high, while institutional ownership stands at 65.60% and insiders have recently sold shares.
The Public Employees Retirement System of Ohio has made a new investment of $997,000 in Forum Energy Technologies, acquiring 19,840 shares and now holding a 0.18% stake in the company. Institutional investors collectively own 65.60% of FET, which recently reported strong quarterly earnings exceeding analyst estimates. Despite some insider selling, analysts hold a "Moderate Buy" rating for the stock, though its share price is near its 52-week high.
Bank of New York Mellon Corp has initiated a new position in Forum Energy Technologies (NYSE:FET), purchasing 50,665 shares valued at approximately $2.5 million. This investment represents about 0.45% of Forum Energy Technologies, which recently surpassed quarterly earnings and revenue estimates. While institutional ownership of FET stands at 65.6%, analyst sentiment for the stock is mixed, with some upgrading it to "strong buy" and others maintaining a "sell" rating.
Forum Energy Technologies (FET) has seen a massive 207% stock surge over the past year, outperforming its sub-industry and peers. The company is poised for significant earnings growth in 2026, driven by market share gains, international expansion, and an asset-light model that boosts profitability. With a strong balance sheet, recurring revenue, and a discounted valuation, FET holds a Zacks Rank #1 (Strong Buy) rating.
Deutsche Bank AG has acquired a new stake of 12,524 shares, valued at $629,000, in Forum Energy Technologies, Inc. during the second quarter. This investment is part of a broader trend of institutional ownership, with these investors collectively holding 65.6% of FET. The company recently surpassed earnings and revenue expectations, despite some insider selling, and analyst ratings are generally positive.