Forum Energy Technologies Inc.

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FET : NYSE : Industrial Services
$11.3 | %
Today's Range: 11.2 - 11.725
Avg. Daily Volume: 1273700.0
03/23/18 - 4:02 PM ET

Financial Analysis

FORUM ENERGY TECH INC's gross profit margin for the fourth quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. Even though it increased sales and net income significantly, the company was unable to grow at a faster pace than its industry competitors. FORUM ENERGY TECH INC has average liquidity. Currently, the Quick Ratio is 1.47 which shows that technically this company has the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has increased by 14.25% from the same quarter last year. Together, the key liquidity measurements indicate that it is relatively unlikely that the company will face financial difficulties in the near future.

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Income Statement Q4 FY17 Q4 FY16
Net Sales ($mil)247.7147.2
EBITDA ($mil)4.96-9.85
EBIT ($mil)-14.9-24.76
Net Income ($mil)51.3-12.51

Balance Sheet Q4 FY17 Q4 FY16
Cash & Equiv. ($mil)115.2234.42
Total Assets ($mil)2199.81835.19
Total Debt ($mil)508.0396.87
Equity ($mil)1411.31235.2

Profitability Q4 FY17 Q4 FY16
Gross Profit Margin29.4130.93
EBITDA Margin2.0-6.68
Operating Margin-6.02-16.82
Sales Turnover0.370.32
Return on Assets-2.59-4.46
Return on Equity-4.05-6.63
Debt Q4 FY17 Q4 FY16
Current Ratio3.685.29
Interest Expense7.56.75
Interest Coverage-1.99-3.67

Share Data Q4 FY17 Q4 FY16
Shares outstanding (mil)96.695.51
Div / share0.00.0
Book value / share14.6112.93
Institutional Own % n/a n/a
Avg Daily Volume1315496.0934165.0


HOLD. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 0.82 indicates a significant discount versus the S&P 500 average of 3.28 and a significant discount versus the industry average of 2.83. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, FORUM ENERGY TECH INC proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
FET NM Peers 69.30   FET NM Peers 167.49

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

FET's P/E is negative making this valuation measure meaningless.


Neutral. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

FET's P/CF is negative making the measure meaningless.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
FET 23.90 Peers 159.02   FET NA Peers 0.72

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

FET is trading at a significant premium to its peers.


Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
FET 0.82 Peers 2.83   FET 27.78 Peers 356.11

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

FET is trading at a significant discount to its peers.


Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, FET is expected to significantly trail its peers on the basis of its earnings growth rate.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
FET 1.41 Peers 2.39   FET 39.30 Peers 29.54

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

FET is trading at a significant discount to its industry on this measurement.


Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

FET has a sales growth rate that significantly exceeds its peers.



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