Forum Energy Tech (FET) AI Stock Analysis

Company Guidance

Management raised full-year 2026 guidance to revenue between $900 million and $920 million, EBITDA between $123 million and $129 million, net income between $52 million and $58 million, and free cash flow between $66 million and $71 million; at the midpoint, revenue would be up 15%, EBITDA up 46%, and net income up 639% compared with 2025. Fourth-quarter guidance is revenue between $230 million and $250 million, EBITDA between $33 million and $39 million, net income between $15 million and $21 million, and free cash flow between $25 million and $30 million, with midpoint approximately 19% year-over-year revenue growth and 59% year-over-year EBITDA growth, plus a onetime incremental stock based compensation charge of approximately $5 million. For 2027, annualizing the midpoints of fourth quarter guidance would result in revenue and EBITDA growth of 5% to 14%, while large service companies are publicly saying broad based, mid to high single digit activity; FET 2030 targets doubling revenue, quadrupling EBITDA, and tripling free cash flow versus 2025, with incremental EBITDA margins on revenue between 25% to 35% and 65 to 75 or 60 to 70% of every incremental dollar of EBITDA as free cash flow.