FORUM ENERGY TECHNOLOGIES, INC.

Analysis for Ticker: FET

Forum Energy Technologies Inc makes heavy equipment for the oil and gas industry in Houston. The business is a ghost that only exists to move money from the owners into the bank accounts of the people who run it. In the first quarter of 2026, the company brought in 208,7$ million, but after the executives finished feeding, only 1,6$ million in actual cash was left from its work. This is a disaster because the company spent 9,3$ million of its cash just to pay the personal income tax bills for the bosses who received free stock. It is like a lemonade stand making one dollar in profit but spending five dollars of the stand's money to pay the taxes on a free toy the kid who owns it gave himself. They are trapped with 840,0$ million in total lifetime losses, borrowing new money to pay back old money while their bank loans get more expensive every time they use them.