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Forum Energy Technologies (FET) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Forum Energy Technologies (FET) Q3 2026 earnings results →
Q3 2026 Revenue up 21% year over year to $237M · 5¢ of every $1 of revenue kept as net profit · operating margin 8.4%
Forum Energy Technologies made $237M in Q3 2026 (+21% Y/Y). Operating margin 8.4%, net earnings $11.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $236.8M in Q3 2026, up 21% year over year and up 5% from the previous quarter.
Gross margin was 31.4%, up 10.9 points from Q3 2025. Operating profit was $20.0M, a 8.4% margin (up 11.5 points year over year). Operating expenses grew 17% against revenue growth of 21%. Net earnings were $11.2M. The effective tax rate was 26.0%.
Operating cash flow was $32.0M (up 40% year over year), 285% of net earnings. Non-cash charges added back $7.2M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $11.0M. Capital expenditures of $1.7M left free cash flow of $30.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $237M | +21% | 8.4% | $11.2M | $32.0M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $226M | +13% | 9.1% | $12.4M | $12.4M |
| Q1 2026 | 10-Q | May 1, 2026 | $209M | +8% | 5.3% | $4.5M | $1.6M |
| Q4 2025 | 10-K | Feb 27, 2026 | $202M | +0.6% | 6.3% | $2.1M | $22.4M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $196M | -6% | -3.1% | −$20.6M | $22.9M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $200M | -3% | 7.4% | $7.7M | $15.8M |
| Q1 2025 | 10-Q | May 2, 2025 | $193M | -4% | 4.6% | $1.1M | $9.3M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Forum Energy Technologies
Forum Energy Technologies, Inc., a Delaware corporation (the “Company,” “FET,” “we,” “our” or “us”), is a global manufacturing company serving the oil, natural gas, defense and renewable energy industries. Our common shares are listed on the New York Stock Exchange (“NYSE”) and NYSE Texas under the symbol “FET.” Our principal executive offices are located at 10344 Sam Houston Park Drive, Houston, Texas 77064, our telephone number is (713) 351-7900, and our website is www.f-e-t.com. Our Annual Reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and all amendments thereto, are available free of charge in the “Investors” section of our website as soon as reasonably practicable after such reports are electronically filed with or furnished to the Securities and Exchange Commission (“SEC”). These reports are also available on the SEC’s website at www.sec.gov.
In its own words, from its 10-K, filed Feb 27, 2026.
Forum Energy Technologies against its Oil & Gas Field Machinery & Equipment peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +21% against the peers' median +14%. Operating margin: 8.4% against the peers' median 12.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FET Forum Energy Technologies | Q3 2026 | $237M | +21% | 8.4% |
| BKR Baker Hughes | Q3 2026 | $8.0B | +14% | 6.5% |
| FTI TechnipFMC | Q3 2026 | $2.9B | +9% | 19.5% |
| NOV NOV | Q3 2026 | $2.2B | +2% | 6.4% |
| DNOW Dnow | Q3 2026 | $1.3B | +111% | 2.5% |
| WFRD Weatherford International | Q3 2026 | $1.1B | -7% | 13.4% |
| WHD Cactus | Q3 2026 | $431M | +63% | 21.8% |
| SEI Solaris Energy Infrastructure | Q3 2026 | $341M | +104% | 19.6% |
| INVX Innovex International | Q3 2026 | $265M | +10% | 12.2% |
Source: Forum Energy Technologies 10-Q on SEC EDGAR · CIK 1401257 · Oil & Gas Field Machinery & Equipment
Guidance and outlook
13F: who owns FET and who is buying
More on FET
- How Forum Energy Technologies makes money: revenue by segment
- Forum Energy Technologies next earnings date and what analysts expect
- Forum Energy Technologies stock forecast, price target and fair value
- Who owns Forum Energy Technologies stock: holders, funds and Congress trades
- Forum Energy Technologies guidance and outlook
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Forum Energy Technologies guidance history: guided vs reported
- Forum Energy Technologies gross margin by quarter
- Forum Energy Technologies operating margin by quarter
- Forum Energy Technologies net income by quarter
- Forum Energy Technologies free cash flow by quarter
- Forum Energy Technologies capital expenditures by quarter