Stock fact sheet · data as of
Forum Energy Technologies, Inc. (FET): fair value, margin of safety and Wheel Score
Ticker symbol FET · Energy · Oil & Gas Equipment & Services · United States · Blend
Is FET undervalued?
At 73.68 (close of 5 Nov 2026), FET trades 38% below the GLS average fair value of 118.67. That average comes from 8 models run on the latest filings, and 5 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Forum Energy Technologies, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between EPV (29.29) and Payback Time (214.50). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for FET, so the nightly engine files it under Blend (value score 39, growth score 50, out of 100).
Nine valuation models for FET
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 146.11 | +98% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 40.59 | -45% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 150.81 | +105% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 65.91 | -11% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 161.41 | +119% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 140.78 | +91% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 214.50 | +191% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 29.29 | -60% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -1.10 | -101% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Forum Energy Technologies, Inc. scores 8 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. A GLS Moat score of 1.9/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -1.9%, ROE -3.3%, ROA -1.3% - with debt at 0.76 times equity and a free-cash-flow yield of 7.4%.
Forum Energy Technologies, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Drilling And Downhole 61%, Completions 39% (quarter Q4 FY2023).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 8 / 9 | ROIC | -1.9% |
|---|---|---|---|
| GLS Moat | 1.9 / 10 | ROE | -3.3% |
| Debt / equity | 0.76 | ROA | -1.3% |
| Free-cash-flow yield | 7.4% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 49: Weak
With a Wheel Score of 49 Forum Energy Technologies, Inc. sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (594 open interest, 148 a day); and filter 8, big enough - market cap $833M (under $1.0B); Option trading (weak) is its weakest part.
Implied volatility is 58% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 594 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 257k shares a day on a market cap of $833M, with a beta of 0.59 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (594 open interest, 148 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $833M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 38% below fair value | |
| Premium | Strong | implied volatility 58% | |
| Moat | Weak | moat 1.9/10 | |
| Health | Strong | Piotroski 8/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Weak | 148 contracts a day, 594 open interest | |
| Stability | Fair | beta 0.59, $833M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for FET in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Equipment & Services
The 12 companies below are the closest to Forum Energy Technologies, Inc. by market cap within the Oil & Gas Equipment & Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AESI Atlas Energy Solutions Inc. | 6.73 | 5.56 | -21% | 21Weak | $841M |
| PUMP ProPetro Holding Corp. | 6.42 | 0.8458 | -659% | 23Weak | $789M |
| FTK Flotek Industries, Inc. | 24.72 | 21.46 | -15% | 24Weak | $894M |
| HOS Hornbeck Offshore Services, Inc. | 6.14 | 2.68 | -129% | 10Weak | $904M |
| TTI TETRA Technologies, Inc. | 6.18 | 2.10 | -194% | 34Weak | $917M |
| ACDC ProFrac Holding Corp. | 3.97 | 8.55 | +54% | 28Weak | $723M |
| HMH HMH Holding Inc. Class A Common Stock | 15.40 | 131.05 | +88% | 31No options | $688M |
| VTOL Bristow Group Inc. | 38.96 | 61.31 | +36% | 47Weak | $1.2B |
| WBI WaterBridge Infrastructure LLC | 26.04 | 13.85 | -88% | 31Weak | $1.2B |
| RES RPC, Inc. | 5.90 | 5.94 | +1% | 34Weak | $1.3B |
| OIS Oil States International, Inc. | 8.53 | 8.37 | -2% | 27Weak | $510M |
| XPRO Expro Group Holdings N.V. | 13.86 | 8.55 | -62% | 26Weak | $1.6B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about FET
Is FET undervalued right now?
By the GLS models, yes: at 73.68 the stock is 38% below the average fair value of 118.67 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of FET and what does it mean?
FET scores 49 out of 100 (Weak) - it fails Wheel Trade Filters 1, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for FET?
118.67 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Forum Energy Technologies, Inc. report earnings next?
No upcoming earnings date is recorded for FET in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does FET have listed options, and how liquid are they?
Yes. The nightly snapshot found 72 listed contracts with 594 open interest across all expiries and implied volatility of 58% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.