FET
EnergyForum Energy Technologies, Inc. · Oil & Gas Equipment & Services · $650M
What is Forum Energy Technologies, Inc.?
Forum Energy Technologies is a Houston-based manufacturer and distributor of specialized equipment for the oil, natural gas, industrial, and renewable energy sectors. Founded in 2012, the company serves customers across the United States and internationally through three focused business segments.
Forum Energy Technologies generates revenue by designing, manufacturing, and distributing equipment used across the full oilfield lifecycle — from drilling and well construction through completion and production. Its three segments — Drilling & Downhole, Completions, and Production — each target distinct phases of energy development. The company also supplies subsea vehicles, hydraulic fracturing pumps, and artificial lift protection products, giving it exposure to both conventional energy markets and adjacent sectors such as defense and renewable energy infrastructure.
Forum Energy Technologies was founded in 2012 and is headquartered in Houston, Texas.
- Drilling technologies and capital equipment for the drilling process
- Well construction casing, cementing, and artificial lift protection products
- Subsea remotely operated vehicles and specialty subsea tools
- Hydraulic fracturing pumps, high-pressure hoses, and flow iron
- Coiled tubing strings, wireline cable, and pressure control equipment
Is FET a Good Stock to Buy?
UQS Score rates FET as Below Average overall, reflecting meaningful structural challenges alongside some brighter spots.
The Growth pillar stands out as a relative positive, suggesting the business has demonstrated forward momentum that may not be fully appreciated at current prices — a view reinforced by a Good Valuation label, indicating the stock does not appear expensive relative to its fundamentals. Risk lands at Neutral, meaning the balance sheet and operational profile carry neither extreme safety nor alarming fragility.
Both the Quality and Moat pillars register as Weak, pointing to below-average earnings consistency and limited competitive differentiation — key concerns for investors focused on durable, long-term compounding.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does FET pay dividends?
No — Forum Energy Technologies, Inc. does not currently pay a dividend.
Forum Energy Technologies does not currently pay a dividend. For a small-cap industrial manufacturer operating in cyclical energy markets, retaining capital for operational flexibility and potential reinvestment is a common strategic choice. Income-focused investors should factor this into their assessment, while growth-oriented investors may view capital retention as appropriate given the company's stage and sector dynamics.
When does FET report earnings?
Forum Energy Technologies reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
The company's Growth pillar rating suggests recent results have shown forward progress relative to prior periods, though the Weak Quality pillar indicates earnings consistency remains a challenge. Cyclical energy market conditions continue to influence quarter-to-quarter variability.
For the most recent quarter's results and guidance, visit Forum Energy Technologies' investor relations page directly.
FET Price History
+125.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Forum Energy Technologies, Inc.?
Based on Forum Energy Technologies, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
FET Long-term Outlook
Forum Energy Technologies' Good Growth pillar suggests the business may be positioned to benefit from continued activity in oilfield services and adjacent energy markets. However, the Weak Quality and Moat pillars temper the long-term outlook, as limited pricing power and inconsistent earnings generation can constrain compounding over time. The Neutral Risk profile indicates the company is neither in acute financial distress nor operating from a position of exceptional strength. Investors weighing the trajectory should monitor energy market cycles closely, as FET's revenue base remains sensitive to upstream spending trends.
Growth drivers
- Exposure to oilfield services activity tied to global energy demand recovery
- Diversification into subsea, defense, and renewable energy adjacent markets
- Potential operating leverage as volumes recover across all three segments
Key risks
- Cyclical dependence on upstream oil and gas capital expenditure budgets
- Weak competitive moat limiting pricing power in commoditized equipment markets
- Earnings quality concerns that may limit investor confidence during downturns
FET vs Peers
Forum Energy Technologies competes in the oilfield equipment and services space alongside several other specialized industrial and energy companies.
Oil States focuses on offshore and completion products with a broader geographic footprint in deepwater markets, offering a different risk and revenue profile than FET.
Mattr operates across pipe and infrastructure solutions with a Canadian base, giving it exposure to different regulatory environments and energy infrastructure end markets.
North American Construction Group emphasizes heavy construction and mining services, making it a more operationally intensive peer with distinct exposure to resource extraction projects.
Frequently Asked Questions
What does Forum Energy Technologies do?
Forum Energy Technologies designs, manufactures, and distributes specialized equipment for the oil, natural gas, industrial, and renewable energy sectors. It operates through three segments — Drilling & Downhole, Completions, and Production — serving customers across the full oilfield lifecycle in the US and internationally.
Does FET pay dividends?
Forum Energy Technologies does not currently pay a dividend. The company retains capital rather than distributing it to shareholders, which is common among small-cap industrial manufacturers operating in cyclical energy markets. Investors seeking income should factor this into their evaluation.
When does FET report earnings?
Forum Energy Technologies follows a standard quarterly earnings cadence for US-listed companies. For specific dates and the most recent results, check the investor relations section of the company's official website, as our data source does not provide forward earnings dates.
Is FET a good stock to buy?
UQS Score rates FET as Below Average overall. While the Growth and Valuation pillars show relative strength, the Weak Quality and Moat ratings indicate meaningful structural concerns. Whether FET fits a portfolio depends on individual risk tolerance and investment objectives — the full pillar breakdown is available to UQS Pro members.
Is FET overvalued?
The UQS Valuation pillar for FET is rated Good, suggesting the stock does not appear expensive relative to its fundamentals at current levels. However, valuation alone does not determine investment merit — quality and moat considerations also matter significantly for long-term outcomes.
How does FET compare to its competitors?
FET operates in a competitive oilfield equipment space alongside peers such as Oil States International, Mattr Corp., and North American Construction Group. Each competitor has a distinct product focus and geographic exposure. UQS Pro members can view side-by-side quality score comparisons across these peers.
What is FET's market cap bracket?
Forum Energy Technologies is classified as a small-cap company. Small-cap stocks in cyclical sectors like oilfield services can offer growth potential but typically carry higher volatility and liquidity risk compared to large- or mega-cap peers in the energy sector.
Who founded Forum Energy Technologies?
Forum Energy Technologies was established in 2012. Founding and corporate history details are publicly available through the company's official investor relations materials and SEC filings for those seeking a complete background.
Is FET a long-term buy?
As a long-term quality indicator, FET's Below Average UQS Score — driven by Weak Quality and Moat pillars — suggests limited structural advantages for sustained compounding. The Good Growth rating offers some encouragement, but durable long-term performance typically requires stronger earnings consistency and competitive differentiation than FET currently demonstrates.
What is the main competitive advantage of Forum Energy Technologies?
Forum Energy Technologies' breadth across drilling, completions, and production segments provides some diversification within the oilfield equipment market. However, the UQS Moat pillar rates the company as Weak, indicating that durable competitive advantages — such as pricing power or switching costs — are not strongly evident at this time.
What sector does FET belong to?
FET operates in the Energy sector, specifically within oilfield equipment and services. The company's revenue is closely tied to upstream oil and gas capital spending, making it sensitive to commodity price cycles and exploration activity levels across its US and international markets.
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Pro Analysis
FET — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 39.5 | 29.4 | 14.0 | 54.5 | 46.0 | 72.3 | 0.0 |
| May 21, 2026 | 39.5 | 29.4 | 14.0 | 54.5 | 46.0 | 72.5 | +0.1 |
| May 19, 2026 | 39.4 | 29.4 | 14.0 | 54.5 | 46.0 | 71.8 | -0.2 |
| May 15, 2026 | 39.6 | 29.4 | 14.0 | 54.5 | 46.0 | 73.2 | 0.0 |
| May 14, 2026 | 39.6 | 29.4 | 14.0 | 54.5 | 46.0 | 73.1 | 0.0 |
| May 12, 2026 | 39.6 | 29.4 | 14.0 | 54.5 | 46.0 | 72.8 | +1.1 |
| May 7, 2026 | 38.5 | 29.2 | 14.0 | 52.0 | 44.4 | 70.7 | +0.2 |
| May 3, 2026 | 38.3 | 29.2 | 14.0 | 52.0 | 44.4 | 69.7 | +0.1 |
| Apr 26, 2026 | 38.2 | 29.2 | 14.0 | 52.0 | 44.4 | 68.8 | -0.3 |
| Apr 25, 2026 | 38.5 | 29.2 | 14.0 | 52.0 | 44.4 | 70.6 | 0.0 |
FET — Pillar Breakdown
Quality
— 29.4/100 (25%)Forum Energy Technologies, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 54.5/100 (20%)Forum Energy Technologies, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 46.0/100 (15%)Forum Energy Technologies, Inc. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 73.0/100 (15%)Forum Energy Technologies, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 14/100 (25%)Forum Energy Technologies, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FET.
Score Composition
Financial Data
More Stock Analysis
How is the FET UQS Score Calculated?
The UQS (Unified Quality Score) for Forum Energy Technologies, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Forum Energy Technologies, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Forum Energy Technologies, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.