Forum Energy Technologies, Inc. (FET) Stock Price & Analysis
Forum Energy Technologies, Inc. (FET) closed at USD 81.56 on Thursday, October 22, 2026, down 5.96% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 86.73; the Oct 22, 2026 session ranged USD 78.13–86.12 on volume of 220,308 shares. Market capitalization is $935.71M, with a 52-week range of USD 26–89.93 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:06 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FET.md
Key facts (FET)
- Last four reported quarters (through Jun 30, 2026): revenue $833M, net income -$1.6M (-0.2% margin), free cash flow $53.2M (SEC filings).
- Earnings quality: non-operating income -$17.0M vs operating income $38.2M over the last four quarters; P/E excluding non-operating income ≈98.9x (estimate: non-operating income taxed at the company's 35% effective rate).
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $2.7M; 4 not under a Rule 10b5-1 plan ($2.0M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: None (1 analysts), mean target USD 91 (range 91–91).
- Total return with dividends: 1Y +160.2% vs S&P 500 +14.9%; 5Y +247.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 1.22, revenue estimate $233M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FET)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $541M | $700M | $739M | $816M | $791M | $833M |
| Gross profit | $123M | $189M | $204M | $255M | $219M | — |
| Operating income | -$44.5M | $17.3M | $20.7M | -$86.8M | $30.1M | $38.2M |
| Net income | -$82.7M | $3.7M | -$18.9M | -$135M | -$9.7M | -$1.6M |
| EPS (diluted) | -$14.65 | $0.62 | -$1.85 | -$11.00 | -$0.81 | — |
| Free cash flow | -$18.2M | -$24.5M | $239K | $84.0M | $64.4M | $53.2M |
| Gross margin | 22.8% | 26.9% | 27.6% | 31.2% | 27.7% | — |
| Operating margin | -8.2% | 2.5% | 2.8% | -10.6% | 3.8% | 4.6% |
| Net margin | -15.3% | 0.5% | -2.6% | -16.6% | -1.2% | -0.2% |
| Revenue growth | +5.6% | +29.4% | +5.6% | +10.5% | -3.1% | — |
| Cash + short-term investments | $46.9M | $51.0M | $46.2M | $44.7M | $34.7M | — |
| Total debt | $233M | $240M | $131M | $188M | $136M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (FET)
P/E ex non-operating (est.) ≈98.9x · P/S 1.1x · EV/EBITDA 14.8x · EV/Sales 1.3x · P/FCF 17.6x · P/B 3.2x · FCF yield 5.69% · Earnings yield -0.17% · Buyback yield (TTM) 3.83% · Net debt $110M · EV $1.05B
Insider sales (SEC Form 4, open-market, last ~7 months) (FET)
2 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-20 | Williams David Lyle Jr. | EVP, CFO | 20,068 | $1.6M | 14% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Danford Michael Dewayne | SVP & CHO | 1,200 | $103K | 2.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-11 | Ivascu John C | EVP, General Counsel & CCO | 5,000 | $406K | 5.8% | Yes | Too little history (no open-market trades in 2025) |
| 2026-08-10 | Danford Michael Dewayne | SVP & CHO | 1,500 | $118K | 2.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-03 | Ivascu John C | EVP, General Counsel & CCO | 5,000 | $353K | 5.5% | Yes | Too little history (no open-market trades in 2025) |
| 2026-05-13 | Danford Michael Dewayne | SVP & CHO | 3,000 | $166K | 5.3% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (FET)
Consensus None, 1 analysts; mean target USD 91 (low 91, high 91).
Total return (dividends reinvested) (FET)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +160.2% | +247.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +161.0% | +28.3% |
| Volatility (annualized) | 54.5% | 49.6% |
| Max drawdown | -27.9% (Apr 2026→Jul 2026) | -57.8% (Feb 2023→Oct 2024) |
FET revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Drilling and Completions | $138.8M | 61.4% | +18.4% |
| Artificial Lift and Downhole | $87.4M | 38.6% | +5.9% |
| Total revenue | $226.2M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
FET company outlook (results filed Jul 30, 2026)
- “(NYSE: FET) today announced second quarter 2026 results and updates to third quarter and full year 2026 guidance.”
- “By executing our 'Beat the Market' strategy and delivering solid operational performance, we achieved a stellar quarter. "With the strength of our first half performance, market share gains, and backlog, we are raising all guidance metrics for full year 2026.”
Quoted word-for-word from the SEC 8-K results press release.
FET analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.22 | $0.54 | +127.1% | $233.3M | 2 |
| Next quarter (ends Dec 2026) | $1.15 | $0.58 | +98.3% | $221.3M | 2 |
| Current fiscal year (ends Dec 2026) | $4.01 | $2.16 | +85.6% | $886.8M | 2 |
| Next fiscal year (ends Dec 2027) | $4.96 | $2.75 | +80.0% | $939.3M | 2 |
FET options: expected move
Options price a move of about ±15.6% (±$12.70) by Nov 20, 2026, which includes earnings on Oct 29, 2026. Over the last 8 reports the stock moved ±10.3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 69.8% | ±15.6% |
| Dec 18, 2026 | 56 | 59.9% | ±18.7% |
| Jan 15, 2027 | 84 | 54.8% | ±20.8% |
| Apr 16, 2027 | 175 | 51.2% | ±28.0% |
30-day implied volatility 66.2% vs 47.2% realized over the last 30 trading days. Put/call ratio (volume) 4.5. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:06 UTC)
| Price | USD 81.56 |
|---|---|
| Change | ▼ 5.96% (down) |
| Previous Close | USD 86.73 |
| Open | USD 86.06 |
| Day Range | USD 78.13 – 86.12 |
| 52-Week Range | USD 26 – 89.93 |
| Volume | 220,308 shares |
| Market Cap | $935.71M |
| Exchange | NYQ |
Technical Analysis (FET)
Nexqual's technical model rates FET "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 10:06 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 48.36 (neutral) |
| vs SMA50 | Below (USD 81.88) |
| MACD | 0.7 (positive) |
Analyst Ratings (FET)
Wall Street analysts rate FET "None" based on 1 analysts, with a mean price target of USD 91 (range USD 91–91), per Nexqual as of October 23, 2026 at 10:06 UTC.
| Consensus Rating | None |
|---|---|
| Analyst Count | 1 |
| Mean Target | USD 91 |
| High Target | USD 91 |
| Low Target | USD 91 |
| Buy / Hold / Sell | 0 / 0 / 0 |
Earnings (FET)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 1.22 |
| Revenue Estimate | $233.35M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.16 vs est 0.57 ▲ beat |
| 2026-03-31 | USD 0.47 vs est 0.44 ▲ beat |
| 2025-12-31 | USD 0.41 vs est 0.36 ▲ beat |
| 2025-09-30 | USD 0.27 vs est 0.19 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:06 UTC.
Financials & Fundamentals (FET)
| Total Revenue | $833.35M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +13.20% |
| Gross Margin | +28.04% |
| Operating Margin | +9.32% |
| Profit Margin | -0.19% |
| ROE | -0.51% |
| Debt / Equity | 0.79 |
| Current Ratio | 2.19 |
| Total Cash | $33.72M |
| Total Debt | $227.51M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $53.22M (6.4% of revenue) |
Source: Nexqual, October 23, 2026 at 10:06 UTC.
Financial Health Score (FET)
Nexqual rates Forum Energy Technologies, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:06 UTC.
| Growth | Weak — Revenue -3% YoY (annual), declining |
|---|---|
| Profitability | Solid — Gross margin 28%, operating 9% (last 12 months) |
| Balance Sheet | Mixed — $34M cash and investments vs $144M debt (Jun 2026, SEC) |
| Cash Flow | Solid — FCF $53M (last 4 quarters to Jun 2026, SEC), 6% margin |
| Efficiency | Critical — ROE -1%, ROA 2.7% |
Ownership (FET)
| Insider Ownership | +6.97% |
|---|---|
| Institutional Ownership | +86.67% |
| Shares Outstanding | 11.47M |
| Float | 9.92M |
| Short % of Float | +5.74% |
Source: Nexqual, October 23, 2026 at 10:06 UTC.
Leadership (FET)
Forum Energy Technologies, Inc. is led by Neal A. Lux, President, CEO & Director, per Nexqual as of October 23, 2026 at 10:06 UTC.
| President, CEO & Director | Neal A. Lux |
|---|---|
| Executive VP & CFO | David Lyle Williams |
| Director of Investor Relations | Rob Kukla |
| Senior Vice President of Operations | Steven Pounds |
| Senior Vice President of Operations | Mark Brookes |
Major Backers & Investors (FET)
Notable institutional backers of Forum Energy Technologies, Inc. include Acadian Asset Management. LLC, American Century Companies Inc, Two Sigma Investments, LP, according to Nexqual as of October 23, 2026 at 10:06 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Acadian Asset Management. LLC | 4.04% |
| American Century Companies Inc | 3.96% |
| Two Sigma Investments, LP | 3.63% |
| Goldman Sachs | 3.29% |
| Jacobs Levy Equity Management, Inc. | 2.49% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.46% |
| Dimensional Fund Advisors | 5.82% |
| State Street | 5.34% |
| Vanguard Group | 4.14% |
| Geode Capital | 2.8% |
Source: Nexqual, October 23, 2026 at 10:06 UTC.
From Forum Energy Technologies, Inc.'s Latest SEC 10-K Filing (filed 2026-02-27)
Key Strengths & Strategy (as disclosed to the SEC)
- VisualSoft is a market leading provider of Digital Video and Data Acquisition and processing systems for survey and inspection of underwater assets.
- Our supply chain systems enable us to design and sell high-quality engineered valves, as well as provide standardized products, while maintaining competitive pricing and minimizing capital requirements.
Legal & Regulatory Risks (Item 1A, quoted)
- Our information technology systems infrastructure could be subject to disruption, compromise or failure and our data protection measures may be insufficient to protect our information, including as a result of cyber incidents adversely impacting our business.
- Our financial results could be adversely impacted by changes in regulation of oil and natural gas exploration and development activity in response to significant environmental incidents or climate change actions.
- Our operations are subject to environmental and operational safety laws and regulations that may expose us to significant costs and liabilities.
- We are subject to litigation risks that may not be covered by insurance.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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|---|---|---|---|
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| VTOL | Bristow Group, Inc. | USD 38.03 | ▼ 1.32% |
| RES | RPC, Inc. | USD 6.02 | ▼ 4.75% |
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:06 UTC. This page is informational and not investment advice.
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