Intrinsic value of TechnipFMC - FTI

Previous Close

$21.24

  Intrinsic Value

$29.91

stock screener

  Rating & Target

buy

+41%

Previous close

$21.24

 
Intrinsic value

$29.91

 
Up/down potential

+41%

 
Rating

buy

We calculate the intrinsic value of FTI 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 9.7

 

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, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  15,358
  15,711
  16,115
  16,568
  17,071
  17,622
  18,222
  18,872
  19,571
  20,323
  21,126
  21,984
  22,896
  23,867
  24,896
  25,987
  27,142
  28,363
  29,654
  31,016
  32,454
  33,970
  35,568
  37,252
  39,026
  40,893
  42,858
  44,927
  47,102
  49,391
Variable operating expenses, $m
  14,001
  14,300
  14,641
  15,024
  15,448
  15,914
  16,421
  16,970
  17,561
  18,196
  17,848
  18,572
  19,344
  20,163
  21,033
  21,955
  22,931
  23,962
  25,053
  26,204
  27,418
  28,699
  30,049
  31,472
  32,970
  34,548
  36,208
  37,955
  39,794
  41,727
Fixed operating expenses, $m
  360
  368
  376
  384
  392
  401
  410
  419
  428
  438
  447
  457
  467
  477
  488
  499
  510
  521
  532
  544
  556
  568
  581
  593
  606
  620
  633
  647
  662
  676
Total operating expenses, $m
  14,361
  14,668
  15,017
  15,408
  15,840
  16,315
  16,831
  17,389
  17,989
  18,634
  18,295
  19,029
  19,811
  20,640
  21,521
  22,454
  23,441
  24,483
  25,585
  26,748
  27,974
  29,267
  30,630
  32,065
  33,576
  35,168
  36,841
  38,602
  40,456
  42,403
Operating income, $m
  997
  1,044
  1,098
  1,160
  1,230
  1,307
  1,391
  1,483
  1,582
  1,689
  2,831
  2,954
  3,086
  3,226
  3,375
  3,534
  3,702
  3,880
  4,069
  4,269
  4,480
  4,703
  4,938
  5,187
  5,449
  5,725
  6,017
  6,324
  6,647
  6,988
EBITDA, $m
  2,436
  2,492
  2,557
  2,632
  2,715
  2,806
  2,907
  3,016
  3,134
  3,261
  3,398
  3,544
  3,700
  3,867
  4,043
  4,231
  4,431
  4,642
  4,865
  5,101
  5,351
  5,615
  5,893
  6,187
  6,497
  6,823
  7,167
  7,530
  7,911
  8,313
Interest expense (income), $m
  0
  547
  587
  637
  693
  757
  827
  904
  989
  1,080
  1,178
  1,283
  1,396
  1,516
  1,644
  1,780
  1,924
  2,077
  2,239
  2,410
  2,591
  2,782
  2,983
  3,195
  3,419
  3,655
  3,904
  4,166
  4,441
  4,731
  5,036
Earnings before tax, $m
  450
  457
  462
  467
  473
  480
  487
  494
  503
  512
  1,548
  1,558
  1,570
  1,582
  1,596
  1,610
  1,625
  1,642
  1,659
  1,678
  1,698
  1,720
  1,743
  1,767
  1,794
  1,821
  1,851
  1,883
  1,916
  1,952
Tax expense, $m
  121
  123
  125
  126
  128
  129
  131
  133
  136
  138
  418
  421
  424
  427
  431
  435
  439
  443
  448
  453
  459
  464
  471
  477
  484
  492
  500
  508
  517
  527
Net income, $m
  328
  333
  337
  341
  345
  350
  355
  361
  367
  374
  1,130
  1,138
  1,146
  1,155
  1,165
  1,175
  1,186
  1,198
  1,211
  1,225
  1,240
  1,255
  1,272
  1,290
  1,309
  1,330
  1,351
  1,374
  1,399
  1,425

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
  28,814
  29,477
  30,235
  31,085
  32,028
  33,062
  34,188
  35,406
  36,719
  38,129
  39,636
  41,245
  42,958
  44,778
  46,710
  48,757
  50,923
  53,215
  55,636
  58,192
  60,889
  63,734
  66,732
  69,892
  73,219
  76,722
  80,410
  84,290
  88,372
  92,666
Adjusted assets (=assets-cash), $m
  28,814
  29,477
  30,235
  31,085
  32,028
  33,062
  34,188
  35,406
  36,719
  38,129
  39,636
  41,245
  42,958
  44,778
  46,710
  48,757
  50,923
  53,215
  55,636
  58,192
  60,889
  63,734
  66,732
  69,892
  73,219
  76,722
  80,410
  84,290
  88,372
  92,666
Revenue / Adjusted assets
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
  0.533
Average production assets, $m
  6,926
  7,086
  7,268
  7,472
  7,699
  7,947
  8,218
  8,511
  8,827
  9,165
  9,528
  9,915
  10,326
  10,764
  11,228
  11,720
  12,241
  12,792
  13,374
  13,988
  14,637
  15,321
  16,041
  16,801
  17,601
  18,443
  19,329
  20,262
  21,243
  22,275
Working capital, $m
  -3,578
  -3,661
  -3,755
  -3,860
  -3,977
  -4,106
  -4,246
  -4,397
  -4,560
  -4,735
  -4,922
  -5,122
  -5,335
  -5,561
  -5,801
  -6,055
  -6,324
  -6,609
  -6,909
  -7,227
  -7,562
  -7,915
  -8,287
  -8,680
  -9,093
  -9,528
  -9,986
  -10,468
  -10,975
  -11,508
Total debt, $m
  4,136
  4,484
  4,883
  5,330
  5,826
  6,370
  6,962
  7,603
  8,294
  9,035
  9,828
  10,674
  11,575
  12,532
  13,548
  14,625
  15,765
  16,970
  18,244
  19,588
  21,007
  22,503
  24,080
  25,742
  27,492
  29,335
  31,275
  33,316
  35,463
  37,721
Total liabilities, $m
  15,156
  15,505
  15,903
  16,351
  16,846
  17,390
  17,983
  18,624
  19,314
  20,056
  20,849
  21,695
  22,596
  23,553
  24,569
  25,646
  26,786
  27,991
  29,264
  30,609
  32,028
  33,524
  35,101
  36,763
  38,513
  40,356
  42,295
  44,336
  46,484
  48,742
Total equity, $m
  13,658
  13,972
  14,331
  14,734
  15,181
  15,671
  16,205
  16,783
  17,405
  18,073
  18,788
  19,550
  20,362
  21,225
  22,140
  23,111
  24,138
  25,224
  26,371
  27,583
  28,862
  30,210
  31,631
  33,129
  34,706
  36,366
  38,114
  39,953
  41,888
  43,924
Total liabilities and equity, $m
  28,814
  29,477
  30,234
  31,085
  32,027
  33,061
  34,188
  35,407
  36,719
  38,129
  39,637
  41,245
  42,958
  44,778
  46,709
  48,757
  50,924
  53,215
  55,635
  58,192
  60,890
  63,734
  66,732
  69,892
  73,219
  76,722
  80,409
  84,289
  88,372
  92,666
Debt-to-equity ratio
  0.300
  0.320
  0.340
  0.360
  0.380
  0.410
  0.430
  0.450
  0.480
  0.500
  0.520
  0.550
  0.570
  0.590
  0.610
  0.630
  0.650
  0.670
  0.690
  0.710
  0.730
  0.740
  0.760
  0.780
  0.790
  0.810
  0.820
  0.830
  0.850
  0.860
Adjusted equity ratio
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  328
  333
  337
  341
  345
  350
  355
  361
  367
  374
  1,130
  1,138
  1,146
  1,155
  1,165
  1,175
  1,186
  1,198
  1,211
  1,225
  1,240
  1,255
  1,272
  1,290
  1,309
  1,330
  1,351
  1,374
  1,399
  1,425
Depreciation, amort., depletion, $m
  1,439
  1,448
  1,459
  1,471
  1,485
  1,499
  1,516
  1,533
  1,552
  1,572
  567
  590
  615
  641
  668
  698
  729
  761
  796
  833
  871
  912
  955
  1,000
  1,048
  1,098
  1,151
  1,206
  1,264
  1,326
Funds from operations, $m
  1,767
  1,781
  1,796
  1,812
  1,830
  1,850
  1,871
  1,894
  1,919
  1,945
  1,697
  1,728
  1,761
  1,796
  1,833
  1,873
  1,915
  1,960
  2,007
  2,058
  2,111
  2,167
  2,227
  2,290
  2,357
  2,427
  2,502
  2,580
  2,663
  2,751
Change in working capital, $m
  -70
  -82
  -94
  -106
  -117
  -128
  -140
  -151
  -163
  -175
  -187
  -200
  -213
  -226
  -240
  -254
  -269
  -285
  -301
  -317
  -335
  -353
  -372
  -392
  -413
  -435
  -458
  -482
  -507
  -533
Cash from operations, $m
  1,837
  1,864
  1,890
  1,918
  1,947
  1,978
  2,011
  2,045
  2,082
  2,120
  1,884
  1,928
  1,973
  2,022
  2,073
  2,127
  2,184
  2,244
  2,308
  2,375
  2,446
  2,521
  2,600
  2,683
  2,770
  2,862
  2,960
  3,062
  3,170
  3,284
Maintenance CAPEX, $m
  -404
  -412
  -422
  -433
  -445
  -458
  -473
  -489
  -507
  -525
  -546
  -567
  -590
  -615
  -641
  -668
  -698
  -729
  -761
  -796
  -833
  -871
  -912
  -955
  -1,000
  -1,048
  -1,098
  -1,151
  -1,206
  -1,264
New CAPEX, $m
  -142
  -159
  -182
  -204
  -227
  -249
  -271
  -293
  -316
  -339
  -362
  -387
  -412
  -438
  -464
  -492
  -521
  -551
  -582
  -614
  -648
  -684
  -721
  -759
  -800
  -842
  -886
  -933
  -981
  -1,032
Cash from investing activities, $m
  -546
  -571
  -604
  -637
  -672
  -707
  -744
  -782
  -823
  -864
  -908
  -954
  -1,002
  -1,053
  -1,105
  -1,160
  -1,219
  -1,280
  -1,343
  -1,410
  -1,481
  -1,555
  -1,633
  -1,714
  -1,800
  -1,890
  -1,984
  -2,084
  -2,187
  -2,296
Free cash flow, $m
  1,291
  1,292
  1,286
  1,281
  1,276
  1,271
  1,267
  1,263
  1,260
  1,256
  976
  974
  972
  970
  968
  967
  966
  965
  965
  965
  965
  966
  967
  968
  970
  973
  976
  979
  983
  987
Issuance/(repayment) of debt, $m
  281
  349
  398
  447
  496
  544
  592
  641
  691
  741
  793
  846
  901
  957
  1,016
  1,077
  1,140
  1,205
  1,274
  1,345
  1,419
  1,496
  1,577
  1,662
  1,750
  1,843
  1,940
  2,041
  2,147
  2,259
Issuance/(repurchase) of shares, $m
  0
  0
  22
  62
  101
  140
  178
  217
  255
  294
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  39
  93
  149
  207
  268
  331
  397
  465
  536
  610
Cash from financing (excl. dividends), $m  
  281
  349
  420
  509
  597
  684
  770
  858
  946
  1,035
  793
  846
  901
  957
  1,016
  1,077
  1,140
  1,205
  1,274
  1,345
  1,458
  1,589
  1,726
  1,869
  2,018
  2,174
  2,337
  2,506
  2,683
  2,869
Total cash flow (excl. dividends), $m
  1,572
  1,641
  1,707
  1,790
  1,873
  1,955
  2,038
  2,121
  2,206
  2,292
  1,769
  1,820
  1,872
  1,927
  1,984
  2,043
  2,105
  2,170
  2,238
  2,309
  2,423
  2,555
  2,693
  2,837
  2,988
  3,146
  3,312
  3,485
  3,666
  3,856
Retained Cash Flow (-), $m
  -270
  -314
  -359
  -403
  -447
  -490
  -534
  -578
  -622
  -668
  -715
  -763
  -812
  -863
  -916
  -970
  -1,027
  -1,086
  -1,148
  -1,212
  -1,279
  -1,348
  -1,421
  -1,497
  -1,577
  -1,661
  -1,748
  -1,839
  -1,935
  -2,035
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
  1,302
  1,327
  1,348
  1,387
  1,426
  1,465
  1,504
  1,543
  1,583
  1,624
  1,055
  1,057
  1,061
  1,064
  1,068
  1,073
  1,078
  1,084
  1,090
  1,098
  1,144
  1,206
  1,272
  1,340
  1,411
  1,486
  1,564
  1,646
  1,731
  1,821
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,248
  1,214
  1,173
  1,142
  1,105
  1,063
  1,016
  965
  909
  851
  501
  451
  403
  357
  314
  273
  235
  200
  168
  139
  118
  100
  83
  68
  55
  43
  34
  25
  19
  14
Current shareholders' claim on cash, %
  100.0
  100.0
  99.8
  99.2
  98.2
  97.0
  95.5
  93.8
  91.8
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.7
  89.5
  89.1
  88.5
  87.7
  86.8
  85.6
  84.4
  83.0
  81.4
  79.8

TechnipFMC plc provides technologies, systems, and services for oil and gas projects worldwide. It operates in three segments: Subsea, Onshore/Offshore, and Surface Projects. The Subsea segment offers products, such as trees, manifolds, controls, templates, flowline systems, umbilicals, and flexibles, as well as subsea processing products. This segment also provides subsea services, including drilling, installation, completion, and field services, as well as asset management, well intervention and IMR, ROVs, and manipulator system services; and services for subsea projects comprising front end to decommissioning, field architecture, integrated design, engineering, procurement, construction, and installation services. The Onshore/Offshore segment offers technical, technological, and project management services across fixed, floating, and onshore facilities, as well as offshore services. The Surface Projects segment provides drilling, completion, and production wellhead equipment, as well as chokes, compact valves, manifolds, and controls; treating iron, manifolds, and reciprocating pumps for stimulation and cementing; separation and flow-treatment systems; flow metering products and systems; marine, truck, and railcar loading systems; installation maintenance services; frac-stack, manifold rental, and operation services; and flowback and well testing services. The company is headquartered in London, the United Kingdom.

FINANCIAL RATIOS  of  TechnipFMC (FTI)

Valuation Ratios
P/E Ratio 0
Price to Sales 0
Price to Book 0
Price to Tangible Book
Price to Cash Flow 0
Price to Free Cash Flow 0
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0%
Ret/ On Assets - 3 Yr. Avg. 0%
Return On Total Capital 0%
Ret/ On T. Cap. - 3 Yr. Avg. 0%
Return On Equity 0%
Return On Equity - 3 Yr. Avg. 0%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

FTI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FTI stock intrinsic value calculation we used $15056.9 million for the last fiscal year's total revenue generated by TechnipFMC. The default revenue input number comes from 0001 income statement of TechnipFMC. 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 FTI stock valuation model: a) initial revenue growth rate of 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 4.3%, whose default value for FTI is calculated based on our internal credit rating of TechnipFMC, 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 TechnipFMC.
    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 FTI stock the variable cost ratio is equal to 91.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $352 million in the base year in the intrinsic value calculation for FTI 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 14.2% for TechnipFMC.

Corporate tax rate of 27% is the nominal tax rate for TechnipFMC. 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 FTI 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 FTI are equal to 45.1%.

Life of production assets of 16.8 years is the average useful life of capital assets used in TechnipFMC 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 FTI is equal to -23.3%. 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 - $13387.9 million for TechnipFMC - 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 454.5 million for TechnipFMC 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 TechnipFMC at the current share price and the inputted number of shares is $9.7 billion.

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COMPANY NEWS

▶ Should You Avoid TechnipFMC plc (FTI)?   [Dec-12-18 11:36PM  Insider Monkey]
▶ TechnipFMC Announces 2019 Financial Guidance   [04:15PM  Business Wire]
▶ Could This Be the Key to TechnipFMC's Turnaround?   [Oct-25-18 08:55AM  Motley Fool]
▶ FMC Technologies: 3Q Earnings Snapshot   [04:32PM  Associated Press]
▶ TechnipFMC Declares Quarterly Dividend   [Oct-23-18 04:15PM  Business Wire]
▶ TechnipFMC to Build Pioneering Vietnam Project   [Aug-27-18 08:00PM  Rigzone.com]
▶ 5 things to know in Texas energy this week   [Aug-20-18 09:59AM  American City Business Journals]
▶ TechnipFMC PLC's Results Showed Some Improvement   [Jul-26-18 10:00AM  Motley Fool]
▶ FMC Technologies: 2Q Earnings Snapshot   [Jul-25-18 04:35PM  Associated Press]
▶ TechnipFMC Declares Quarterly Dividend   [Jul-24-18 04:15PM  Business Wire]
▶ McDermott hires TechnipFMC exec to fill COO role   [Jul-03-18 02:00PM  American City Business Journals]
▶ MARKETS: $80 Brent crude oil isn't phasing S&P 500 bullsyet   [May-17-18 10:15AM  Yahoo Finance Video]
▶ TechnipFMC Announces First Quarter 2018 Results   [May-09-18 04:15PM  Business Wire]
▶ MARKETS: Wall Street braces for Trump-Iran announcement   [May-08-18 10:59AM  Yahoo Finance Video]
▶ TechnipFMC Declares Quarterly Dividend   [04:15PM  Business Wire]
▶ SABIC, Motiva considering investments in Houston area, Gulf Coast   [09:39AM  American City Business Journals]
▶ Saudi Aramco looks to expand largest U.S. refinery   [Apr-07-18 11:43PM  Reuters]
▶ Getting Technical: Shorting XOPoil & gas explorers and refiners   [Mar-15-18 10:50AM  Yahoo Finance Video]
▶ U.S. jobs report boosts European stocks   [Mar-09-18 12:22PM  Reuters]
▶ Sembmarine could build US$1.36b Energean vessel   [Mar-06-18 04:06AM  Singapore Business Review]

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