Forum Energy Technologies has beaten earnings four quarters in a row with revenue growing from $193.3M to $226.2M in a year, but quality is below the 4.0 minimum, 80% of revenue is concentrated in one product category, and the $87.17 price is 11.3% above the $77.35 analyst target ahead of earnings in 5 days.
Thesis pillars
- Perfect Beat Streak Growing Revenue↑Improving
- Below Floor Quality No Moat↑Improving
- Product Concentration Risk↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Feb 27, 2026
Forum Energy Technologies, Inc. (FET) Stock Analysis
Breakout setup
Energy · Oil & Gas Equipment & Services
Hold if already holding. Not a fresh buy at $84.94, but acceptable to hold if already in. Reasons: Concentration risk — Product: consumable products and activity-based equipment (80.0%); Analyst target reached - limited upside remaining.
Forum Energy Technologies is a global manufacturer of highly engineered capital equipment and consumable products for oil, natural gas, defense, and renewable energy customers, operating through Drilling and Completions (drilling tools, subsea ROVs, pressure pumping equipment,... Read more
Hold if already holding. Not a fresh buy at $84.94, but acceptable to hold if already in. Reasons: Concentration risk — Product: consumable products and activity-based equipment (80.0%); Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 49, MACD bullish. Maintain position. Not compelling to add more. Score 6.1/10, moderate confidence.
Passes 5/8 gates (positive momentum, news boost earnings 0.70, earnings proximity 108d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
Recent developments
updated 2026-11-02Recent Developments — Forum Energy Technologies, Inc.
Latest news
- NEWS Forum Energy Technologies Q3 2026 Earnings Call Transcript — benzinga Oct 30, 2026 neutral
- NEWS Forum Energy Technologies, Inc. Reports Q3 2026 Financial Results — fiscal.ai Oct 29, 2026 neutral
- NEWS Forum Energy Technologies Sees Q4 Sales $230.000M-$250.000M vs $221.250M Est — benzinga Oct 29, 2026 positive
- NEWS Forum Energy Technologies Raises FY2026 Sales Guidance from $870.000M-$910.000M to $900.000M-$920.000M vs $887.600M Est — benzinga Oct 29, 2026 positive
- NEWS Forum Energy Technologies Q3 Adj. EPS $1.51 Beats $1.22 Estimate, Sales $236.813M Beat $233.350M Estimate — benzinga Oct 29, 2026 positive
Generated 2026-11-02T11:38:32Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductconsumable products and activity-based equipment80%10-K Item 1: 'approximately 80% of our revenue was derived from consumable products and activity-based equipment'
- MEDIUMSupplierlimited-source component and raw material suppliers10-K Item 1: 'Certain of our component parts, products or raw materials are only available from a limited number of suppliers.'
Material Events(8-K, last 90d)
- 2026-05-12Item 5.02LOWAt the May 8, 2026 annual meeting, stockholders approved the Fourth Amendment to the Second Amended and Restated 2016 Stock and Incentive Plan, increasing authorized shares by 625,000. Routine equity-plan governance action; no officer or director departure.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
10 dimensions · all in-band
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $84.94, but acceptable to hold if already in. Reasons: Concentration risk — Product: consumable products and activity-based equipment (80.0%); Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 49, MACD bullish. Maintain position. Not compelling to add more. Analyst target $77.35 reached (−8.9%), stop $78.99 (−7.5%), A.R:R -0.8:1. Score 6.1/10, moderate confidence.
Analyst target $77.35 reached (−8.9% from $84.94); no take-profit level is published. Analyst target $77.35 reached (−8.9%), stop $78.99 (−7.5%), A.R:R -0.8:1. Stop-loss: $78.99.
Concentration risk — Product: consumable products and activity-based equipment (80.0%); Analyst target reached - limited upside remaining; V7 low-quality RISK_OFF penalty: -0.5 (Q=5.2).
Forum Energy Technologies, Inc. trades at a P/E of 33.4 (forward 17.1). TrendMatrix value score: 6.0/10. Verdict: Hold.
5 analysts cover FET with a consensus score of 4.2/5. Average price target: $91.
What does Forum Energy Technologies, Inc. do?Forum Energy Technologies is a global manufacturer of highly engineered capital equipment and consumable products for...
Forum Energy Technologies is a global manufacturer of highly engineered capital equipment and consumable products for oil, natural gas, defense, and renewable energy customers, operating through Drilling and Completions (drilling tools, subsea ROVs, pressure pumping equipment, wireline, coiled tubing) and Artificial Lift and Downhole (downhole protection, casing/cementing tools, production equipment, industrial valves) segments. In 2025, approximately 80% of revenue came from consumable products and activity-based equipment, backlog stood at $311.6 million (up from $213.5 million in 2024) on b