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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and FORUM ENERGY TECHNOLOGIES, INC. (FET). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $208.7M, roughly 1.1× FORUM ENERGY TECHNOLOGIES, INC.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs 2.2%, a 2.3% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 3.2%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $1.4M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs 0.8%).
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries worldwide.
CSW vs FET — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $208.7M |
| Net Profit | $10.3M | $4.5M |
| Gross Margin | 39.7% | 29.2% |
| Operating Margin | 7.4% | 5.3% |
| Net Margin | 4.4% | 2.2% |
| Revenue YoY | 20.3% | 3.2% |
| Net Profit YoY | -61.9% | 300.4% |
| EPS (diluted) | $0.62 | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $208.7M | ||
| Q4 25 | $233.0M | $202.2M | ||
| Q3 25 | $277.0M | $196.2M | ||
| Q2 25 | $263.6M | $199.8M | ||
| Q1 25 | $230.5M | $193.3M | ||
| Q4 24 | $193.6M | $201.0M | ||
| Q3 24 | $227.9M | $207.8M | ||
| Q2 24 | $226.2M | $205.2M |
| Q1 26 | — | $4.5M | ||
| Q4 25 | $10.3M | $2.1M | ||
| Q3 25 | $40.7M | $-20.6M | ||
| Q2 25 | $40.9M | $7.7M | ||
| Q1 25 | $35.1M | $1.1M | ||
| Q4 24 | $26.9M | $-103.5M | ||
| Q3 24 | $36.1M | $-14.8M | ||
| Q2 24 | $38.6M | $-6.7M |
| Q1 26 | — | 29.2% | ||
| Q4 25 | 39.7% | 30.2% | ||
| Q3 25 | 43.0% | 20.5% | ||
| Q2 25 | 43.8% | 29.7% | ||
| Q1 25 | 44.2% | 30.2% | ||
| Q4 24 | 41.4% | 31.1% | ||
| Q3 24 | 45.6% | 31.6% | ||
| Q2 24 | 47.5% | 30.7% |
| Q1 26 | — | 5.3% | ||
| Q4 25 | 7.4% | 6.3% | ||
| Q3 25 | 20.5% | -3.1% | ||
| Q2 25 | 20.8% | 7.4% | ||
| Q1 25 | 19.5% | 4.6% | ||
| Q4 24 | 15.3% | -53.1% | ||
| Q3 24 | 22.6% | 4.3% | ||
| Q2 24 | 24.3% | 3.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 4.4% | 1.0% | ||
| Q3 25 | 14.7% | -10.5% | ||
| Q2 25 | 15.5% | 3.9% | ||
| Q1 25 | 15.2% | 0.6% | ||
| Q4 24 | 13.9% | -51.5% | ||
| Q3 24 | 15.8% | -7.1% | ||
| Q2 24 | 17.1% | -3.3% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.62 | $0.25 | ||
| Q3 25 | $2.41 | $-1.76 | ||
| Q2 25 | $2.43 | $0.61 | ||
| Q1 25 | $2.05 | $0.09 | ||
| Q4 24 | $1.60 | $-8.41 | ||
| Q3 24 | $2.26 | $-1.20 | ||
| Q2 24 | $2.47 | $-0.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $37.5M |
| Total DebtLower is stronger | — | $153.7M |
| Stockholders' EquityBook value | $1.1B | $280.7M |
| Total Assets | $2.3B | $763.1M |
| Debt / EquityLower = less leverage | — | 0.55× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $37.5M | ||
| Q4 25 | $40.2M | $34.7M | ||
| Q3 25 | $31.5M | $31.7M | ||
| Q2 25 | $38.0M | $39.0M | ||
| Q1 25 | $225.8M | $31.1M | ||
| Q4 24 | $213.8M | $44.7M | ||
| Q3 24 | $273.2M | $33.3M | ||
| Q2 24 | $18.9M | $31.8M |
| Q1 26 | — | $153.7M | ||
| Q4 25 | — | $135.9M | ||
| Q3 25 | — | $140.0M | ||
| Q2 25 | — | $159.3M | ||
| Q1 25 | $800.1M | $171.4M | ||
| Q4 24 | — | $188.4M | ||
| Q3 24 | — | $231.5M | ||
| Q2 24 | — | $252.9M |
| Q1 26 | — | $280.7M | ||
| Q4 25 | $1.1B | $291.1M | ||
| Q3 25 | $1.1B | $297.3M | ||
| Q2 25 | $1.1B | $334.2M | ||
| Q1 25 | $1.1B | $320.0M | ||
| Q4 24 | $1.0B | $319.9M | ||
| Q3 24 | $1.0B | $443.5M | ||
| Q2 24 | $650.2M | $442.0M |
| Q1 26 | — | $763.1M | ||
| Q4 25 | $2.3B | $752.5M | ||
| Q3 25 | $1.5B | $770.1M | ||
| Q2 25 | $1.5B | $810.1M | ||
| Q1 25 | $1.4B | $790.1M | ||
| Q4 24 | $1.4B | $816.0M | ||
| Q3 24 | $1.4B | $973.7M | ||
| Q2 24 | $1.1B | $976.8M |
| Q1 26 | — | 0.55× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | 0.75× | 0.54× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.57× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.9M | $1.6M |
| Free Cash FlowOCF − Capex | $22.7M | $1.4M |
| FCF MarginFCF / Revenue | 9.8% | 0.7% |
| Capex IntensityCapex / Revenue | 2.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.81× | 0.36× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $58.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.6M | ||
| Q4 25 | $28.9M | $22.4M | ||
| Q3 25 | $61.8M | $22.9M | ||
| Q2 25 | $60.6M | $15.8M | ||
| Q1 25 | $27.3M | $9.3M | ||
| Q4 24 | $11.6M | $38.5M | ||
| Q3 24 | $66.8M | $25.6M | ||
| Q2 24 | $62.7M | $23.1M |
| Q1 26 | — | $1.4M | ||
| Q4 25 | $22.7M | $20.9M | ||
| Q3 25 | $58.7M | $21.5M | ||
| Q2 25 | $57.7M | $14.8M | ||
| Q1 25 | $22.8M | $7.2M | ||
| Q4 24 | $8.5M | $36.1M | ||
| Q3 24 | $61.3M | $24.3M | ||
| Q2 24 | $59.6M | $21.6M |
| Q1 26 | — | 0.7% | ||
| Q4 25 | 9.8% | 10.3% | ||
| Q3 25 | 21.2% | 10.9% | ||
| Q2 25 | 21.9% | 7.4% | ||
| Q1 25 | 9.9% | 3.7% | ||
| Q4 24 | 4.4% | 18.0% | ||
| Q3 24 | 26.9% | 11.7% | ||
| Q2 24 | 26.3% | 10.5% |
| Q1 26 | — | 0.1% | ||
| Q4 25 | 2.6% | 0.8% | ||
| Q3 25 | 1.1% | 0.7% | ||
| Q2 25 | 1.1% | 0.5% | ||
| Q1 25 | 2.0% | 1.1% | ||
| Q4 24 | 1.6% | 1.2% | ||
| Q3 24 | 2.4% | 0.6% | ||
| Q2 24 | 1.4% | 0.7% |
| Q1 26 | — | 0.36× | ||
| Q4 25 | 2.81× | 10.83× | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | 2.05× | ||
| Q1 25 | 0.78× | 8.31× | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 1.62× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
FET
| Drilling and Completions | $126.7M | 61% |
| Downhole | $50.6M | 24% |
| Production Equipment | $18.8M | 9% |
| Valve Solutions | $12.8M | 6% |
