TechnipFMC
FTI · NYSEOil & Gas Field Machinery & Equipment · Fiscal year ends Dec 31
TechnipFMC reported revenue of $9.9B in the fiscal year ended Dec 2025, up 9.4% from the year before. Operating income was $1.4B, an operating margin of 14.5%, and net income was $964M. Operating cash flow of $1.8B less capital expenditure of $317M left free cash flow of $1.4B. It held more cash than debt (net cash $602M).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $6.4B | $6.7B | $7.8B | $9.1B | $9.9B |
| Cost of revenue | – | $5.8B | $6.5B | $7.4B | – |
| Gross profit | – | $907M | $1.3B | $1.7B | – |
| Research & development | $78M | $67M | $69M | $73M | $83M |
| Selling, general & admin | $645M | $617M | $676M | $667M | $705M |
| Operating income | $183M | $376M | $658M | $1.2B | $1.4B |
| Interest expense | $157M | $139M | $122M | $97M | $81M |
| Pre-tax income | $198M | $69M | $207M | $940M | $1.3B |
| Income tax | $111M | $105M | $155M | $85M | $303M |
| Net income | $13M | −$107M | $56M | $843M | $964M |
| Diluted EPS | 0.03 | −0.24 | 0.12 | 1.91 | 2.30 |
| Diluted shares | 455M | 450M | 452M | 441M | 420M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.3B | $1.1B | $952M | $1.2B | $1B |
| Inventory | $1B | $1B | $1.1B | $1.1B | $1.2B |
| Current assets | $5.3B | $5B | $5.2B | $5.5B | $5.5B |
| Net PP&E | $2.6B | $2.4B | $2.3B | $2.1B | $2.3B |
| Total assets | $10B | $9.4B | $9.7B | $9.9B | $10.1B |
| Payables | $1.3B | $1.3B | $1.4B | $1.3B | $1.2B |
| Deferred revenue | $1B | $1.2B | $1.5B | $1.8B | $2.1B |
| Current liabilities | $3.9B | $4.2B | $4.5B | $4.9B | $4.9B |
| Short-term debt | $278M | $367M | $154M | $278M | $34M |
| Long-term debt | $1.7B | $999M | $914M | $607M | $396M |
| Total liabilities | $6.6B | $6.2B | $6.5B | $6.7B | $6.7B |
| Shareholders' equity | $3.4B | $3.2B | $3.1B | $3.1B | $3.4B |
| Backlog (remaining obligations) | – | $9.4B | $13.2B | $14.4B | $16.6B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $781M | $352M | $693M | $961M | $1.8B |
| Capital expenditure | $192M | $158M | $225M | $282M | $317M |
| Free cash flow | $590M | $194M | $468M | $679M | $1.4B |
| Depreciation & amortisation | $385M | $377M | $378M | $393M | $442M |
| Stock-based compensation | $27M | $41M | $41M | $58M | $62M |
| Share buybacks | $0 | – | – | – | – |
| Dividends paid | $0 | $0 | $44M | $86M | $82M |
| Dividend per share | – | – | 0.20 | 0.20 | 0.20 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.6% | 16.8% | 16.1% | 9.4% |
| Operating income growth (YoY) | – | 105.0% | 75.1% | 75.8% | 24.1% |
| EPS growth (YoY) | – | −900.0% | – | 1491.7% | 20.4% |
| Gross margin | – | 13.5% | 16.4% | 19.0% | – |
| Operating margin | 2.9% | 5.6% | 8.4% | 12.7% | 14.5% |
| Net margin | 0.2% | −1.6% | 0.7% | 9.3% | 9.7% |
| Return on equityBlank when equity is negative | 0.4% | −3.3% | 1.8% | 27.2% | 28.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 3.0% | 7.1% | 12.7% | 23.1% | 27.6% |
| Free cash flow margin | 9.2% | 2.9% | 6.0% | 7.5% | 14.6% |
| Cash conversion (CFO ÷ net income) | 58.7x | −3.28x | 12.3x | 1.14x | 1.83x |
| Inventory days | – | 66 | 61 | 53 | – |
| Payable days | – | 81 | 76 | 65 | – |
| Interest cover | 1.17x | 2.71x | 5.39x | 11.9x | 17.6x |
| Debt ÷ equity | 0.59x | 0.42x | 0.34x | 0.29x | 0.13x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $678M | $310M | $116M | −$273M | −$602M |
| Current ratio | 1.39x | 1.20x | 1.16x | 1.12x | 1.13x |
Recent filings
More in Oil & Gas Field Machinery & Equipment
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.