Forum Energy Technologies, Inc (FET) Fair Value & Analysis

Energy · US · Market cap $582M

A solid business, but screening 77% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case ($17.26). The favourable scenario is already priced in.
• Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range $13.57 – $75.52 · fair‑value band $12.88 – $17.26 · the $74.23 price screens above the $17.26 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Forum Energy Technologies, Inc (FET) currently trades at $74.23, while our model-based Fair Value estimate is $17.26, implying the stock looks roughly 76.8% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Forum Energy Technologies, Inc generated revenue of $807M at a net margin of -0.8%. Revenue grew 8.0% year over year. It earns a return on equity of -2.1%. Net debt stands at $185M. Fundamentals as of Jul 16, 2026

Our scenario range runs from $12.88 (bear case) to $17.26 (bull case); at $74.23, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 310% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -77%, FET screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Dividend Discount ($95.29) versus Multiples ($13.17). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Forum Energy Technologies, Inc. designs, manufactures, and supplies products serving the oil, natural gas, defense, and renewable energy industries in the United States and internationally. It operates through two segments, Drilling and Completions; and Artificial Lift and Downhole.

Full company description

Forum Energy Technologies, Inc. designs, manufactures, and supplies products serving the oil, natural gas, defense, and renewable energy industries in the United States and internationally. It operates through two segments, Drilling and Completions; and Artificial Lift and Downhole. The Drilling and Completions segment designs, manufactures, and supplies products and solutions to the drilling, subsea, coiled tubing, well stimulation, and intervention markets, including applications in oil and natural gas, renewable energy, defense, and communications industries. This segment also offers drilling capital equipment and consumable products; subsea remotely operated vehicles and trenchers, submarine rescue vehicles, specialty components and tooling, and technical services; hydraulic fracturing pumps, cooling systems, and high-pressure flexible hoses and flow iron; wireline cable and pressure control equipment; and coiled tubing strings and pressure control equipment, as well as coiled line pipe and related services. The Artificial Lift and Downhole Segment designs, manufactures, and supplies products and solutions for the artificial lift, well construction, production, and infrastructure markets. This segment also offers products designed to safeguard artificial lift equipment and downhole cables; well construction casing and cementing equipment; customized downhole technology solutions, which provides sand and flow control products for heavy oil applications; engineered process systems, production equipment, and separation equipment; and a range of industrial valves. It sells its products through distributors to drilling rig contractors, offshore service companies, governmental organizations, and oil and gas operators and producers. The company was formerly known as Forum Oilfield Technologies, Inc. and changed its name to Forum Energy Technologies, Inc. in August 2010. Forum Energy Technologies, Inc. was incorporated in 2005 and is headquartered in Houston, Texas.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Forum Energy Technologies, Inc reported revenue of $791M in FY2025 versus $541M in FY2021, a compound +10.0%/yr. Reported net income was −$9.7M in FY2025.

FET screens 77% overvalued. Compare with SLB N.V →

Peer Group

Oil & Gas Equipment & Services · 191 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.