Intrinsic value of Forum Energy Technologies - FET

Previous Close

$7.23

  Intrinsic Value

$0.48

stock screener

  Rating & Target

str. sell

-93%

Previous close

$7.23

 
Intrinsic value

$0.48

 
Up/down potential

-93%

 
Rating

str. sell

We calculate the intrinsic value of FET stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  36.20
  33.08
  30.27
  27.74
  25.47
  23.42
  21.58
  19.92
  18.43
  17.09
  15.88
  14.79
  13.81
  12.93
  12.14
  11.42
  10.78
  10.20
  9.68
  9.21
  8.79
  8.41
  8.07
  7.77
  7.49
  7.24
  7.02
  6.81
  6.63
  6.47
Revenue, $m
  1,115
  1,484
  1,933
  2,469
  3,098
  3,824
  4,649
  5,575
  6,603
  7,731
  8,959
  10,284
  11,704
  13,218
  14,822
  16,515
  18,296
  20,163
  22,115
  24,153
  26,277
  28,487
  30,787
  33,178
  35,662
  38,244
  40,927
  43,716
  46,616
  49,632
Variable operating expenses, $m
  1,126
  1,459
  1,865
  2,349
  2,916
  3,571
  4,316
  5,152
  6,080
  7,098
  8,086
  9,282
  10,565
  11,931
  13,379
  14,907
  16,514
  18,199
  19,961
  21,801
  23,718
  25,713
  27,789
  29,947
  32,190
  34,520
  36,942
  39,459
  42,077
  44,799
Fixed operating expenses, $m
  105
  108
  110
  112
  115
  117
  120
  123
  125
  128
  131
  134
  137
  140
  143
  146
  149
  152
  156
  159
  163
  166
  170
  174
  177
  181
  185
  189
  194
  198
Total operating expenses, $m
  1,231
  1,567
  1,975
  2,461
  3,031
  3,688
  4,436
  5,275
  6,205
  7,226
  8,217
  9,416
  10,702
  12,071
  13,522
  15,053
  16,663
  18,351
  20,117
  21,960
  23,881
  25,879
  27,959
  30,121
  32,367
  34,701
  37,127
  39,648
  42,271
  44,997
Operating income, $m
  -117
  -83
  -42
  8
  67
  135
  213
  301
  398
  505
  742
  868
  1,003
  1,147
  1,301
  1,462
  1,633
  1,811
  1,998
  2,193
  2,396
  2,608
  2,828
  3,057
  3,295
  3,543
  3,800
  4,068
  4,346
  4,635
EBITDA, $m
  54
  104
  166
  240
  327
  429
  544
  673
  817
  976
  1,148
  1,334
  1,534
  1,747
  1,973
  2,212
  2,463
  2,726
  3,001
  3,289
  3,589
  3,901
  4,225
  4,563
  4,914
  5,278
  5,657
  6,051
  6,461
  6,887
Interest expense (income), $m
  26
  30
  47
  68
  93
  123
  159
  200
  247
  299
  357
  421
  491
  566
  646
  732
  823
  919
  1,020
  1,125
  1,236
  1,351
  1,472
  1,597
  1,727
  1,862
  2,003
  2,149
  2,301
  2,459
  2,623
Earnings before tax, $m
  -146
  -130
  -109
  -85
  -56
  -24
  13
  54
  99
  148
  320
  377
  437
  501
  569
  639
  714
  791
  873
  957
  1,045
  1,136
  1,231
  1,330
  1,433
  1,540
  1,651
  1,767
  1,887
  2,012
Tax expense, $m
  0
  0
  0
  0
  0
  0
  3
  14
  27
  40
  86
  102
  118
  135
  154
  173
  193
  214
  236
  258
  282
  307
  332
  359
  387
  416
  446
  477
  509
  543
Net income, $m
  -146
  -130
  -109
  -85
  -56
  -24
  9
  39
  72
  108
  234
  275
  319
  366
  415
  467
  521
  578
  637
  699
  763
  830
  899
  971
  1,046
  1,124
  1,205
  1,290
  1,377
  1,469

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,989
  3,978
  5,182
  6,620
  8,306
  10,252
  12,464
  14,947
  17,702
  20,727
  24,018
  27,571
  31,379
  35,436
  39,737
  44,277
  49,051
  54,055
  59,290
  64,753
  70,447
  76,374
  82,539
  88,949
  95,610
  102,532
  109,725
  117,202
  124,976
  133,061
Adjusted assets (=assets-cash), $m
  2,989
  3,978
  5,182
  6,620
  8,306
  10,252
  12,464
  14,947
  17,702
  20,727
  24,018
  27,571
  31,379
  35,436
  39,737
  44,277
  49,051
  54,055
  59,290
  64,753
  70,447
  76,374
  82,539
  88,949
  95,610
  102,532
  109,725
  117,202
  124,976
  133,061
Revenue / Adjusted assets
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
  0.373
Average production assets, $m
  941
  1,252
  1,631
  2,084
  2,615
  3,227
  3,924
  4,706
  5,573
  6,525
  7,561
  8,680
  9,878
  11,156
  12,510
  13,939
  15,442
  17,017
  18,665
  20,385
  22,177
  24,043
  25,984
  28,002
  30,099
  32,278
  34,543
  36,897
  39,344
  41,889
Working capital, $m
  557
  742
  966
  1,235
  1,549
  1,912
  2,325
  2,788
  3,301
  3,866
  4,479
  5,142
  5,852
  6,609
  7,411
  8,258
  9,148
  10,081
  11,057
  12,076
  13,138
  14,244
  15,394
  16,589
  17,831
  19,122
  20,464
  21,858
  23,308
  24,816
Total debt, $m
  792
  1,146
  1,577
  2,092
  2,695
  3,392
  4,184
  5,073
  6,059
  7,142
  8,320
  9,592
  10,955
  12,408
  13,948
  15,573
  17,282
  19,074
  20,947
  22,903
  24,942
  27,064
  29,271
  31,565
  33,950
  36,428
  39,003
  41,680
  44,463
  47,358
Total liabilities, $m
  1,070
  1,424
  1,855
  2,370
  2,974
  3,670
  4,462
  5,351
  6,337
  7,420
  8,599
  9,870
  11,234
  12,686
  14,226
  15,851
  17,560
  19,352
  21,226
  23,182
  25,220
  27,342
  29,549
  31,844
  34,228
  36,706
  39,282
  41,958
  44,741
  47,636
Total equity, $m
  1,919
  2,554
  3,327
  4,250
  5,333
  6,582
  8,002
  9,596
  11,365
  13,307
  15,420
  17,700
  20,145
  22,750
  25,511
  28,426
  31,490
  34,704
  38,064
  41,571
  45,227
  49,032
  52,990
  57,105
  61,381
  65,825
  70,444
  75,244
  80,235
  85,425
Total liabilities and equity, $m
  2,989
  3,978
  5,182
  6,620
  8,307
  10,252
  12,464
  14,947
  17,702
  20,727
  24,019
  27,570
  31,379
  35,436
  39,737
  44,277
  49,050
  54,056
  59,290
  64,753
  70,447
  76,374
  82,539
  88,949
  95,609
  102,531
  109,726
  117,202
  124,976
  133,061
Debt-to-equity ratio
  0.410
  0.450
  0.470
  0.490
  0.510
  0.520
  0.520
  0.530
  0.530
  0.540
  0.540
  0.540
  0.540
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
  0.550
Adjusted equity ratio
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642
  0.642

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -146
  -130
  -109
  -85
  -56
  -24
  9
  39
  72
  108
  234
  275
  319
  366
  415
  467
  521
  578
  637
  699
  763
  830
  899
  971
  1,046
  1,124
  1,205
  1,290
  1,377
  1,469
Depreciation, amort., depletion, $m
  170
  187
  208
  232
  260
  293
  331
  373
  419
  471
  407
  467
  531
  600
  673
  749
  830
  915
  1,003
  1,096
  1,192
  1,293
  1,397
  1,505
  1,618
  1,735
  1,857
  1,984
  2,115
  2,252
Funds from operations, $m
  24
  58
  98
  147
  204
  270
  340
  412
  491
  578
  640
  742
  850
  966
  1,088
  1,216
  1,351
  1,493
  1,640
  1,795
  1,955
  2,122
  2,296
  2,477
  2,664
  2,859
  3,062
  3,273
  3,493
  3,721
Change in working capital, $m
  148
  184
  225
  268
  314
  363
  413
  463
  514
  564
  614
  663
  710
  757
  802
  847
  890
  933
  976
  1,019
  1,062
  1,105
  1,150
  1,195
  1,242
  1,291
  1,342
  1,394
  1,450
  1,508
Cash from operations, $m
  -124
  -127
  -126
  -121
  -110
  -93
  -72
  -51
  -22
  14
  26
  79
  140
  209
  285
  370
  461
  559
  664
  776
  893
  1,017
  1,146
  1,281
  1,422
  1,569
  1,721
  1,879
  2,043
  2,213
Maintenance CAPEX, $m
  -37
  -51
  -67
  -88
  -112
  -141
  -174
  -211
  -253
  -300
  -351
  -407
  -467
  -531
  -600
  -673
  -749
  -830
  -915
  -1,003
  -1,096
  -1,192
  -1,293
  -1,397
  -1,505
  -1,618
  -1,735
  -1,857
  -1,984
  -2,115
New CAPEX, $m
  -249
  -311
  -379
  -453
  -531
  -612
  -696
  -782
  -867
  -952
  -1,036
  -1,118
  -1,199
  -1,277
  -1,354
  -1,429
  -1,503
  -1,576
  -1,648
  -1,720
  -1,792
  -1,866
  -1,941
  -2,018
  -2,097
  -2,179
  -2,265
  -2,354
  -2,447
  -2,545
Cash from investing activities, $m
  -286
  -362
  -446
  -541
  -643
  -753
  -870
  -993
  -1,120
  -1,252
  -1,387
  -1,525
  -1,666
  -1,808
  -1,954
  -2,102
  -2,252
  -2,406
  -2,563
  -2,723
  -2,888
  -3,058
  -3,234
  -3,415
  -3,602
  -3,797
  -4,000
  -4,211
  -4,431
  -4,660
Free cash flow, $m
  -411
  -489
  -573
  -661
  -753
  -846
  -942
  -1,044
  -1,143
  -1,238
  -1,360
  -1,446
  -1,525
  -1,600
  -1,668
  -1,732
  -1,791
  -1,846
  -1,898
  -1,948
  -1,995
  -2,042
  -2,087
  -2,133
  -2,180
  -2,229
  -2,279
  -2,332
  -2,388
  -2,448
Issuance/(repayment) of debt, $m
  284
  354
  431
  515
  604
  697
  792
  889
  986
  1,083
  1,178
  1,272
  1,363
  1,453
  1,540
  1,625
  1,709
  1,792
  1,874
  1,956
  2,038
  2,122
  2,207
  2,295
  2,385
  2,478
  2,575
  2,677
  2,783
  2,895
Issuance/(repurchase) of shares, $m
  657
  764
  882
  1,008
  1,139
  1,273
  1,411
  1,555
  1,697
  1,834
  1,879
  2,006
  2,126
  2,239
  2,346
  2,448
  2,544
  2,635
  2,723
  2,809
  2,893
  2,976
  3,059
  3,144
  3,230
  3,320
  3,413
  3,511
  3,613
  3,722
Cash from financing (excl. dividends), $m  
  941
  1,118
  1,313
  1,523
  1,743
  1,970
  2,203
  2,444
  2,683
  2,917
  3,057
  3,278
  3,489
  3,692
  3,886
  4,073
  4,253
  4,427
  4,597
  4,765
  4,931
  5,098
  5,266
  5,439
  5,615
  5,798
  5,988
  6,188
  6,396
  6,617
Total cash flow (excl. dividends), $m
  530
  630
  741
  861
  989
  1,123
  1,261
  1,400
  1,540
  1,679
  1,697
  1,832
  1,963
  2,092
  2,218
  2,341
  2,461
  2,581
  2,699
  2,817
  2,936
  3,056
  3,179
  3,305
  3,435
  3,569
  3,709
  3,855
  4,008
  4,169
Retained Cash Flow (-), $m
  -657
  -764
  -882
  -1,008
  -1,139
  -1,273
  -1,420
  -1,594
  -1,769
  -1,942
  -2,113
  -2,281
  -2,445
  -2,605
  -2,761
  -2,914
  -3,065
  -3,213
  -3,360
  -3,507
  -3,655
  -3,805
  -3,958
  -4,115
  -4,276
  -4,444
  -4,618
  -4,800
  -4,991
  -5,191
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -127
  -135
  -142
  -147
  -150
  -150
  -160
  -194
  -228
  -262
  -416
  -449
  -481
  -513
  -544
  -574
  -603
  -633
  -662
  -690
  -720
  -749
  -779
  -810
  -842
  -875
  -909
  -945
  -983
  -1,022
Discount rate, %
  6.90
  7.25
  7.61
  7.99
  8.39
  8.81
  9.25
  9.71
  10.19
  10.70
  11.24
  11.80
  12.39
  13.01
  13.66
  14.34
  15.06
  15.81
  16.61
  17.44
  18.31
  19.22
  20.18
  21.19
  22.25
  23.37
  24.53
  25.76
  27.05
  28.40
PV of cash for distribution, $m
  -119
  -117
  -114
  -108
  -100
  -90
  -86
  -92
  -95
  -95
  -129
  -118
  -105
  -93
  -80
  -67
  -56
  -45
  -36
  -28
  -21
  -16
  -11
  -8
  -6
  -4
  -2
  -2
  -1
  -1
Current shareholders' claim on cash, %
  60.0
  38.3
  25.6
  17.9
  12.9
  9.6
  7.4
  5.8
  4.6
  3.7
  3.1
  2.6
  2.2
  1.9
  1.7
  1.5
  1.3
  1.2
  1.1
  1.0
  0.9
  0.8
  0.7
  0.7
  0.6
  0.6
  0.5
  0.5
  0.5
  0.4

Forum Energy Technologies, Inc. is an oilfield products company. The Company designs, manufactures and distributes products, and engages in aftermarket services, parts supply and related services. The Company operates through three segments: Drilling & Subsea, Completions, and Production & Infrastructure. The Drilling & Subsea segment designs and manufactures products, and provides related services to the drilling and subsea construction markets. The Completions segment designs, manufactures and supplies products, and provide related services to the well construction, completion, stimulation and intervention markets. The Production & Infrastructure segment designs, manufactures and supplies products, and provides related equipment and services to production and infrastructure markets. Its product offering includes a mix of engineered capital products and replaced items that are used in the exploration, development, production and transportation of oil and natural gas.

FINANCIAL RATIOS  of  Forum Energy Technologies (FET)

Valuation Ratios
P/E Ratio -8.4
Price to Sales 1.2
Price to Book 0.6
Price to Tangible Book
Price to Cash Flow 10.6
Price to Free Cash Flow 14.4
Growth Rates
Sales Growth Rate -45.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -46.9%
Cap. Spend. - 3 Yr. Gr. Rate -22.3%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 32.1%
Total Debt to Equity 32.1%
Interest Coverage -4
Management Effectiveness
Return On Assets -3.6%
Ret/ On Assets - 3 Yr. Avg. 0.2%
Return On Total Capital -5%
Ret/ On T. Cap. - 3 Yr. Avg. -0.8%
Return On Equity -6.6%
Return On Equity - 3 Yr. Avg. -0.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 17%
Gross Margin - 3 Yr. Avg. 24.5%
EBITDA Margin -8.5%
EBITDA Margin - 3 Yr. Avg. 2.3%
Operating Margin -21.9%
Oper. Margin - 3 Yr. Avg. -5.7%
Pre-Tax Margin -23.5%
Pre-Tax Margin - 3 Yr. Avg. -7.3%
Net Profit Margin -13.9%
Net Profit Margin - 3 Yr. Avg. -5%
Effective Tax Rate 40.6%
Eff/ Tax Rate - 3 Yr. Avg. 26.7%
Payout Ratio 0%

FET stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FET stock intrinsic value calculation we used $818.62 million for the last fiscal year's total revenue generated by Forum Energy Technologies. The default revenue input number comes from 0001 income statement of Forum Energy Technologies. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FET stock valuation model: a) initial revenue growth rate of 36.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.9%, whose default value for FET is calculated based on our internal credit rating of Forum Energy Technologies, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Forum Energy Technologies.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FET stock the variable cost ratio is equal to 104.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $103 million in the base year in the intrinsic value calculation for FET stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.9% for Forum Energy Technologies.

Corporate tax rate of 27% is the nominal tax rate for Forum Energy Technologies. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FET stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FET are equal to 84.4%.

Life of production assets of 18.6 years is the average useful life of capital assets used in Forum Energy Technologies operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FET is equal to 50%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1409.016 million for Forum Energy Technologies - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 108.956 million for Forum Energy Technologies is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Forum Energy Technologies at the current share price and the inputted number of shares is $0.8 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Forum Energy: 3Q Earnings Snapshot   [05:52PM  Associated Press]
▶ 5 things to know in Texas energy this week   [Oct-08-18 01:18PM  American City Business Journals]
▶ Forum Energy Technologies, Inc. to Host Earnings Call   [Jul-31-18 08:00AM  ACCESSWIRE]
▶ Forum Energy: 2Q Earnings Snapshot   [Jul-30-18 05:14PM  Associated Press]
▶ Oil prices rise as Trump, Iran's leader escalate threats   [Jul-23-18 12:48PM  Yahoo Finance Video]
▶ 4 Toxic Stocks to Get Rid of or Sell Short for Solid Gains   [Jul-17-18 02:23PM  InvestorPlace]
▶ Forum Energy: 1Q Earnings Snapshot   [Apr-30-18 07:43PM  Associated Press]
▶ Forum Energy Technologies Announces CFO Succession   [Feb-21-18 09:00AM  Business Wire]
▶ Forum Energy misses Street 4Q forecasts   [Feb-08-18 07:48PM  Associated Press]
▶ McCord Development's Generation Park lands another corporate HQ   [Jan-30-18 03:15PM  American City Business Journals]
▶ 5 Stocks to Buy With Oil Prices Hitting Highs Again   [Nov-06-17 10:03AM  TheStreet.com]
▶ NOW Inc.'s Results Continue to Improve   [Nov-01-17 12:09PM  Motley Fool]
▶ Forum Energy reports 3Q loss   [Oct-30-17 06:19PM  Associated Press]
▶ EOG Resources names retired CEO of Houston company to board   [Sep-22-17 09:45AM  American City Business Journals]
▶ [$$] Quantum Selling Stake in Piping and Tubing Maker   [Aug-28-17 12:53PM  The Wall Street Journal]
▶ Forum Energy reports 2Q loss   [Jul-28-17 08:04PM  Associated Press]
▶ [$$] Pelican Energy Partners Sells Multilift   [Jul-10-17 01:11PM  The Wall Street Journal]
▶ Forum Energy Technologies Acquires Multilift   [Jul-05-17 08:00AM  Business Wire]
▶ Forum Energy reports 1Q loss   [Apr-27-17 06:50PM  Associated Press]

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