Forum Energy Technologies vs National Energy Services Reunited
National Energy Services Reunited is the larger business, with $1.32bn of revenue in fiscal 2025 against $791m for Forum Energy Technologies (1.7 times as much). National Energy Services Reunited grew faster (1.7% against -3.1%). National Energy Services Reunited kept more of each dollar of sales as profit: a net margin of 3.9% against -1.2%.
| Latest fiscal year | Forum Energy TechnologiesFET, 2025 | National Energy Services ReunitedNESR, 2025 |
|---|---|---|
| Revenue | $791m | $1.32bn |
| Revenue growth | -3.1% | 1.7% |
| Net income | −$9.7m | $51.1m |
| Operating margin | 3.8% | — |
| Net margin | -1.2% | 3.9% |
| Return on equity | -3.2% | 5.5% |
| Free cash flow | $64.4m | $121m |
| Cash | $34.7m | $125m |
| Total debt | $142m | $310m |
| Debt to equity | 48.7% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $34.6m | — |
| Employees | 1,700 | — |
| Market value | $944m | $1.93bn |
| Price vs our value range | Below our value range | — |
| Moat score | 32 (Weak) | — |
| Insider trades, 12 months | 0 buys, 15 sales | 0 buys, 17 sales |