Filing Flows › TechnipFMC (FTI) › Takeover & LBO
Is TechnipFMC (FTI) a takeover target?
A leveraged buyout at today's price plus 30% ($82.43 a share) would return about 5% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%. Historically 1.6% of companies with its figures were bought within a year (0.33× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $82.43 | today's $63.41 plus 30% |
| × shares | 398.2 million | |
| = Equity value | $32.8B | |
| + Debt refinanced | $404M | |
| − Cash | $1.0B | |
| + Other claims | $7.1M | preferred stock, minority interests |
| = Enterprise value | $32.2B | 14.6× EBITDA of $2.2B |
| Fees | $644M | 2% of the price |
| New debt | $12.1B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $20.7B | 63% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $11.5B | $2.4B | $925M | $857M | $11.2B |
| Year 2 | $12.3B | $2.5B | $860M | $1.0B | $10.2B |
| Year 3 | $13.0B | $2.7B | $781M | $1.2B | $9.0B |
| Year 4 | $13.5B | $2.8B | $689M | $1.4B | $7.6B |
| Year 5 | $13.9B | $2.9B | $585M | $1.5B | $6.1B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 11.2× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $32.1B | |
| − Debt left | $6.1B | |
| = Buyer's equity | $26.0B | |
| Money multiple | 1.25× | on $20.7B put in |
| Buyer's yearly return (IRR) | 4.6% |
Price against return
What the buyer makes at other premiums over today's $63.41.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $69.75 | 10.8% |
| 20% | $76.09 | 7.5% |
| 30% | $82.43 | 4.6% |
| 40% | $88.77 | 2.2% |
| 50% | $95.11 | 0.1% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $10.7B | |
| EBITDA, last 12 months | $2.2B | 20.6% of revenue |
| Depreciation and amortization | $407M | |
| Capital spending | $271M | |
| Debt | $404M | |
| Cash | $1.0B | |
| Share price | $63.41 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 21% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, TechnipFMC would cost about $88.77 a share, $35.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 14.7% | $72.73 | $29.0B |
| Median | 40% | $88.77 | $35.3B |
| High end (a quarter paid more) | 60.2% | $101.58 | $40.5B |
The odds, from history
Historically 1.6% of companies with its figures were bought within a year (0.33× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
TechnipFMC's latest quarter
TechnipFMC, Q3 2026: revenue $2.9B (+9% year over year), operating margin 19.5%, net earnings $419M, operating cash flow $531M. The chart follows the revenue to costs, profit and cash.
Questions
Is TechnipFMC being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy TechnipFMC?
A leveraged buyout at today's price plus 30% ($82.43 a share) would return about 5% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%.
What would a takeover of TechnipFMC cost?
Takeovers in its sector paid a median premium of 40% over the share price before the deal (the middle half 14.7% to 60.2%), according to the 20 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, TechnipFMC would cost about $88.77 a share, $35.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.