IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
Relative valuation derived from Industrials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
29.4%
Sector: 8.9%
Dividend Analysis audit
GROWTH
0.51%
Trailing Yield
$0.51
Per $100 Invested
Modest dividend — capital prioritized for reinvestment.
Est. Payout Ratio
15%SAFE
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
Sign up for free access to institutional-quality research tools.
Based on our 6-factor quantitative model, TechnipFMC plc (FTI) receives a "Hold" rating with a composite score of 53.8/100, ranked #211 out of 4446 stocks. Key factor scores: Quality 50/100, Value 59/100, Momentum 73/100. This is quantitative analysis only — not investment advice.
TechnipFMC plc (FTI) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does TechnipFMC plc Do?
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation. It provides subsea production and processing systems; subsea umbilicals, risers, and flowlines; vessels; and Subsea Studio for optimizing the development, execution, and operation of current and future subsea fields. This segment also offers well and asset services; research, engineering, manufacturing, and supply chain; and product management services. The Surface Technologies segment designs, manufactures, and services products and systems used in land and shallow water exploration and production of crude oil and natural gas. This segment offers drilling and completion systems; surface wellheads and production trees systems; iComplete, a digitally enabled pressure control system; fracturing tree and manifold systems; pressure pumping; well service pumps; well control, safety and integrity systems, multiphase meter modules, in-line separation and processing systems, and standard pumps; flowback and well testing services; skid systems; automation and digital systems; and flow measurement and automation solutions. It also offers planning, testing and installation, commissioning, operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment; and supplies flexible lines and flowline products and services. TechnipFMC plc has a strategic alliance with Talos Energy Inc. to develop and deliver technical and commercial solutions to Carbon Capture and Storage projects. The company was founded in 1884 and is based in Newcastle Upon Tyne, the United Kingdom. TechnipFMC plc (FTI) is classified as a large-cap stock in the Industrials sector, specifically within the Machinery industry. The company is led by CEO Douglas J. Pferdehirt and employs approximately 23,300 people. With a market capitalization of $27.9B, FTI is one of the prominent companies in the Industrials sector.
TechnipFMC plc (FTI) Stock Rating — Hold (April 2026)
As of April 2026, TechnipFMC plc receives a Hold rating with a composite score of 53.8/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.FTI ranks #211 out of 4,446 stocks in our coverage universe. Within the Industrials sector, TechnipFMC plc ranks #38 of 752 stocks, placing it in the top 10% of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
FTI Stock Price and 52-Week Range
TechnipFMC plc (FTI) currently trades at $73.87. The stock gained $0.36 (0.5%) in the most recent trading session. The 52-week high for FTI is $67.55, which means the stock is currently trading 9.4% from its annual peak. The 52-week low is $22.11, putting the stock 234.0% above its annual trough. Recent trading volume was 1.3M shares, reflecting moderate market activity.
Is FTI Overvalued or Undervalued? — Valuation Analysis
TechnipFMC plc (FTI) carries a value factor score of 59/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 29.25x, compared to the Industrials sector average of 28.33x — a premium of 3%. The price-to-book ratio stands at 8.60x, versus the sector average of 2.23x. The price-to-sales ratio is 3.00x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, FTI trades at 20.60x EV/EBITDA, versus 5.70x for the sector.
Overall, FTI's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
TechnipFMC plc Profitability — ROE, Margins, and Quality Score
TechnipFMC plc (FTI) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 29.4%, compared to the Industrials sector average of 8.9%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 9.9% versus the sector average of 3.3%.
On a margin basis, TechnipFMC plc reports gross margins of 21.8%, compared to 35.8% for the sector. The operating margin is 14.7% (sector: 6.2%). Net profit margin stands at 10.2%, versus 3.9% for the average Industrials stock. Revenue growth is running at 13.8% on a trailing basis, compared to 6.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
FTI Debt, Balance Sheet, and Financial Health
TechnipFMC plc has a debt-to-equity ratio of 13.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 1.13x, suggesting adequate working capital coverage. Total debt on the balance sheet is $430M. Cash and equivalents stand at $877M.
FTI has a beta of 1.25, meaning it is more volatile than the broader market — a $10,000 investment in FTI would be expected to move 24.8% more than the S&P 500 on any given day. The stability factor score for TechnipFMC plc is 59/100, reflecting average volatility within the normal range for its sector.
TechnipFMC plc Revenue and Earnings History — Quarterly Trend
In TTM 2026, TechnipFMC plc reported revenue of $9.76B and earnings per share (EPS) of $2.34. Net income for the quarter was $1.00B. Gross margin was 21.8%. Operating income came in at $1.44B.
In FY 2025, TechnipFMC plc reported revenue of $9.93B and earnings per share (EPS) of $2.34. Net income for the quarter was $967M. Revenue grew 9.4% year-over-year compared to FY 2024. Operating income came in at $1.44B.
In Q3 2025, TechnipFMC plc reported revenue of $2.65B and earnings per share (EPS) of $0.76. Net income for the quarter was $311M. Revenue grew 12.7% year-over-year compared to Q3 2024. Operating income came in at $438M.
In Q2 2025, TechnipFMC plc reported revenue of $2.53B and earnings per share (EPS) of $0.65. Net income for the quarter was $268M. Gross margin was 23.1%. Revenue grew 9.0% year-over-year compared to Q2 2024. Operating income came in at $404M.
Over the past 8 quarters, TechnipFMC plc has demonstrated a growth trajectory, with revenue expanding from $2.33B to $9.76B. Investors analyzing FTI stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
FTI Dividend Yield and Income Analysis
TechnipFMC plc (FTI) currently pays a dividend yield of 0.5%. At this yield, a $10,000 investment in FTI stock would generate approximately $$51.00 in annual dividend income. The net margin of 10.2% provides reasonable coverage for the dividend, though investors should monitor payout sustainability.
FTI Momentum and Technical Analysis Profile
TechnipFMC plc (FTI) has a momentum factor score of 73/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 28/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 29/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
FTI vs Competitors — Industrials Sector Ranking and Peer Comparison
Comparing FTI against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full FTI vs S&P 500 (SPY) comparison to assess how TechnipFMC plc stacks up against the broader market across all factor dimensions.
FTI Next Earnings Date
No upcoming earnings date has been announced for TechnipFMC plc (FTI) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy FTI? — Investment Thesis Summary
TechnipFMC plc presents a balanced picture with arguments on both sides. Price momentum is positive at 73/100, suggesting the trend favors buyers.
In summary, TechnipFMC plc (FTI) earns a Hold rating with a composite score of 53.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on FTI stock.
We'll email you when stocks you follow change their composite rating.
Institutional Research Dossier
TechnipFMC plc (FTI) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We initiate coverage of TechnipFMC plc (FTI) with a Buy rating. This rating is underpinned by the company's strategic positioning in the subsea and surface technologies sectors, its improving financial performance driven by increased demand and operational efficiencies, and a compelling valuation relative to its peers. While risks remain, particularly concerning cyclicality and project execution, we believe FTI is well-positioned to capitalize on the growing global energy demand and the increasing complexity of offshore projects.
The core of our bullish thesis rests on FTI's ability to leverage its integrated solutions and technological expertise to secure high-value contracts, particularly in the subsea segment. The company's focus on innovation, such as its Subsea Studio and iComplete systems, enhances its competitive edge and allows it to offer differentiated solutions to its clients. The most critical takeaway is that FTI's transformation from a pure-play oilfield services company to a technology-driven solutions provider is gaining traction, leading to improved profitability and sustainable growth.
Business Strategy & Overview
TechnipFMC operates through two primary segments: Subsea and Surface Technologies. The Subsea segment, which constitutes a significant portion of the company's revenue, focuses on the design, engineering, manufacturing, and installation of subsea systems and infrastructure for oil and gas production. This segment benefits from the increasing complexity of offshore projects, requiring specialized expertise and integrated solutions. FTI's Subsea Studio, a digital platform for optimizing subsea field development, exemplifies its commitment to innovation and its ability to offer value-added services to clients.
The Surface Technologies segment provides products and services for land and shallow water exploration and production. This includes drilling and completion systems, wellheads, pressure control systems, and flowback services. While this segment is more exposed to the cyclicality of the North American onshore market, FTI is focusing on digitally enabled solutions, such as the iComplete pressure control system, to differentiate itself and improve profitability. The company's strategic alliance with Talos Energy Inc. to develop carbon capture and storage (CCS) projects highlights its diversification efforts and its commitment to sustainable energy solutions.
FTI's strategic positioning revolves around offering integrated solutions that combine its subsea and surface capabilities. This allows the company to capture a larger share of project spending and improve its overall profitability. The company's focus on technology and innovation is also a key differentiator, enabling it to offer more efficient and cost-effective solutions to its clients. Furthermore, FTI is actively pursuing opportunities in the energy transition, such as CCS and hydrogen production, to diversify its revenue streams and reduce its reliance on traditional oil and gas projects.
The company's product pipeline includes advancements in subsea processing, autonomous systems, and digitally enabled surface technologies. These innovations are aimed at improving the efficiency, safety, and environmental performance of oil and gas operations. FTI's investment in research and development is crucial for maintaining its competitive edge and securing future growth opportunities. The company's ability to adapt to changing market conditions and technological advancements will be critical for its long-term success.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
13.8%
Sector: 6.4%
+117% VS SCTR
Economic Moat Analysis
TechnipFMC possesses a narrow economic moat, primarily derived from switching costs and intangible assets. In the Subsea segment, the high complexity and capital intensity of projects create significant switching costs for customers. Once a subsea system is installed, it is costly and disruptive to switch to a different provider. This gives FTI a degree of pricing power and allows it to retain customers over the long term. The company's reputation for reliability and expertise, built over decades of experience, also contributes to its intangible assets.
The Surface Technologies segment, however, faces more intense competition and lower switching costs. Customers in this segment are more price-sensitive and have a wider range of suppliers to choose from. FTI's efforts to differentiate itself through digitally enabled solutions, such as the iComplete system, are aimed at increasing switching costs and improving its competitive position in this segment. However, the moat in this segment is weaker compared to the Subsea segment.
While FTI does not possess a wide moat, its narrow moat provides a degree of protection against competition and allows it to generate above-average returns on invested capital. The company's integrated solutions and technological expertise further strengthen its competitive advantage. However, the cyclicality of the oil and gas industry and the potential for technological disruption pose challenges to its moat.
The company's focus on innovation and its ability to offer value-added services are crucial for maintaining and expanding its moat. FTI's investment in research and development and its strategic partnerships with other companies are aimed at developing new technologies and solutions that will further differentiate it from its competitors. The company's success in these efforts will determine the long-term sustainability of its moat.
Financial Health & Profitability
TechnipFMC's financial health has been improving in recent years, driven by increased demand and operational efficiencies. The company's revenue has grown from $7.82 billion in FY2023 to $9.93 billion in FY2025, representing a significant increase. Net income has also improved substantially, from $51.9 million in FY2023 to $967.10 million in FY2025. This demonstrates the company's ability to translate revenue growth into improved profitability.
The company's operating margin has also shown significant improvement, increasing from 8.4% in FY2023 to 14.5% in FY2025. This reflects the company's efforts to improve its cost structure and increase its operational efficiency. The company's gross margin, while lower than the sector average, has also been improving, indicating its ability to capture more value from its products and services.
FTI's balance sheet is relatively healthy, with total debt of $430 million and total cash of $876.60 million. This gives the company a net cash position and provides it with financial flexibility to invest in growth opportunities and return capital to shareholders. The company's current ratio of 1.13 indicates its ability to meet its short-term obligations.
Compared to the sector average, FTI's ROE of 29.4% is significantly higher than the sector average of 9.2%. This demonstrates the company's ability to generate strong returns on its equity. The company's debt-to-equity ratio of 13.00 is also significantly lower than the sector average of 70.00, indicating its conservative financial management. The company's free cash flow generation has been strong, although the TTM FCF of $756.66M is lower than the FY2024 FCF of $1.79B, which warrants further investigation into the drivers of this change.
Valuation Assessment
TechnipFMC's valuation appears attractive relative to its growth prospects and its sector peers. The company's P/E ratio of 27.9x is slightly higher than the sector average of 27.7x, but this is justified by its higher growth rate and its superior profitability. The company's EV/EBITDA ratio of 4.6x is significantly lower than the sector average of 5.7x, indicating that it is undervalued on an enterprise value basis.
The company's free cash flow yield, based on the TTM FCF of $756.66M and a market cap of $26.11B, is approximately 2.9%. While this is not exceptionally high, it is still a reasonable yield given the company's growth potential and its improving financial performance. The FY2024 FCF of $1.79B would imply a much higher FCF yield, suggesting that the TTM FCF may not be representative of the company's long-term earning power.
Compared to its historical valuation, FTI's current valuation is also attractive. The company's P/E ratio has been significantly higher in the past, reflecting its higher growth expectations. The current valuation provides an opportunity for investors to capitalize on the company's improving financial performance and its growth prospects.
Overall, we believe that FTI is undervalued based on its growth prospects, its profitability, and its financial health. The company's strategic positioning in the subsea and surface technologies sectors, its focus on innovation, and its improving financial performance make it an attractive investment opportunity. While risks remain, we believe that the potential rewards outweigh the risks.
Risk & Uncertainty
TechnipFMC faces several risks and uncertainties that could impact its financial performance and its stock price. One of the primary risks is the cyclicality of the oil and gas industry. Demand for the company's products and services is highly correlated with oil prices and capital spending by oil and gas companies. A decline in oil prices or a reduction in capital spending could negatively impact the company's revenue and profitability.
Another risk is project execution. FTI's projects are often complex and involve significant engineering and construction. Delays, cost overruns, or technical problems could negatively impact the company's profitability and its reputation. The company's ability to effectively manage its projects is crucial for its success.
Competition is also a significant risk. FTI faces competition from other oilfield service companies, as well as from new entrants into the market. The company's ability to differentiate itself through technology and innovation is crucial for maintaining its competitive edge. Furthermore, the energy transition poses a long-term risk to FTI's business. As the world shifts towards renewable energy sources, demand for oil and gas may decline, which could negatively impact the company's revenue and profitability. FTI's efforts to diversify into areas such as CCS and hydrogen production are aimed at mitigating this risk, but the success of these efforts is uncertain.
Bulls Say / Bears Say
The Bull Case
BULL VIEWTechnipFMC's strategic focus on integrated subsea solutions and digital technologies positions it to capture increasing market share in the evolving offshore energy landscape.
BULL VIEWThe company's strong balance sheet and improving free cash flow generation provide ample flexibility for strategic investments and shareholder returns.
BULL VIEWFTI's early mover advantage in carbon capture and storage (CCS) projects offers significant long-term growth potential as the energy transition accelerates.
The Bear Case
BEAR VIEWTechnipFMC's reliance on the cyclical oil and gas industry makes it vulnerable to significant revenue declines during periods of low commodity prices and reduced capital spending.
BEAR VIEWIntense competition in the surface technologies segment and potential cost overruns on complex subsea projects could pressure profit margins and erode shareholder value.
BEAR VIEWThe company's ability to successfully navigate the energy transition and diversify into new markets remains uncertain, posing a long-term threat to its core business.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score FTI and 4,400+ other equities.
TechnipFMC plc exhibits a 263% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
9.9%
Sector: 3.3%
Gross Margin
Pricing power and cost efficiency
21.8%
Sector: 35.8%
Operating Margin
Core business profitability
14.7%
Sector: 6.2%
Net Margin
Bottom-line profitability
10.2%
Sector: 3.9%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.00%
Yield Delta—
Income Projection audit
A $10,000 investment would generate approximately $51 annually in dividends at the current trailing rate.
