Forum Energy Technologies Inc (NYSE: FET) is an oilfield equipment company incorporated in Texas that designs and manufactures engineered products for oil and gas drilling, well construction, completion, and production operations. Revenue comes from transactional product sales split between consumable products and activity-based equipment, which together accounted for approximately 80% of FET's revenue in FY2025, with capital equipment and a small amount of rental and other services making up the remainder. Customers include oil and natural gas operators, oilfield service companies, pipeline and refinery operators, defense contractors, and renewable energy companies. Consumable products serve drilling, well construction, completion, and refinery activities, while capital products address drilling rig construction and upgrades, subsea projects, pressure pumping, production equipment placement, downstream projects, and renewable energy equipment. The company is incorporated in Texas and listed on the NYSE.

Revenue model

Transactional product sales. Approximately 80% of FY2025 revenue came from consumable products and activity-based equipment; the balance came primarily from capital products with a small contribution from rental and other services.

Products and services

Highly engineered consumable products and capital equipment for drilling, well construction, completion, processing, and refining. Capital products include drilling rig equipment, subsea construction equipment, pressure pumping equipment, production equipment, downstream capital equipment, and renewable energy capital equipment.

Customers and end markets

Oil and natural gas operators, oilfield service companies, pipeline and refinery operators, defense contractors, and renewable energy companies. End markets include upstream drilling and completion, midstream pipelines, downstream refining, and renewable energy projects.

Value-chain role

Equipment manufacturer and supplier to oilfield operators and service companies. Sits upstream of the operator in the oilfield services supply chain, providing both consumable and capital equipment used in field operations.

Geographic exposure

Incorporated in Texas and listed on NYSE. The filing excerpts do not provide a specific country or regional revenue breakdown.

Source: SEC 10-K, filed 2026-02-27

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