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Side-by-side financial comparison of Drilling Tools International Corp (DTI) and FORUM ENERGY TECHNOLOGIES, INC. (FET). Click either name above to swap in a different company.
FORUM ENERGY TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($202.2M vs $38.5M, roughly 5.3× Drilling Tools International Corp). Drilling Tools International Corp runs the higher net margin — 3.2% vs 1.0%, a 2.1% gap on every dollar of revenue. On growth, FORUM ENERGY TECHNOLOGIES, INC. posted the faster year-over-year revenue change (0.6% vs -3.4%). FORUM ENERGY TECHNOLOGIES, INC. produced more free cash flow last quarter ($20.9M vs $1.3M). Over the past eight quarters, Drilling Tools International Corp's revenue compounded faster (2.1% CAGR vs -0.0%).
Drilling Tools International Corp is a leading provider of specialized drilling tools, rental equipment, and related support services for the global oil and gas exploration and production sector. It primarily serves onshore and offshore drilling operators, oilfield service companies, and energy exploration firms across North America and key international energy markets, delivering durable, high-performance solutions that boost drilling efficiency and operational safety.
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries worldwide.
DTI vs FET — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $38.5M | $202.2M |
| Net Profit | $1.2M | $2.1M |
| Gross Margin | — | 30.2% |
| Operating Margin | 2.9% | 6.3% |
| Net Margin | 3.2% | 1.0% |
| Revenue YoY | -3.4% | 0.6% |
| Net Profit YoY | 190.6% | 102.0% |
| EPS (diluted) | $0.04 | $0.25 |
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.
| Q4 25 | $38.5M | $202.2M | ||
| Q3 25 | $38.8M | $196.2M | ||
| Q2 25 | $39.4M | $199.8M | ||
| Q1 25 | $42.9M | $193.3M | ||
| Q4 24 | $39.8M | $201.0M | ||
| Q3 24 | $40.1M | $207.8M | ||
| Q2 24 | $37.5M | $205.2M | ||
| Q1 24 | $37.0M | $202.4M |
| Q4 25 | $1.2M | $2.1M | ||
| Q3 25 | $-903.0K | $-20.6M | ||
| Q2 25 | $-2.4M | $7.7M | ||
| Q1 25 | $-1.7M | $1.1M | ||
| Q4 24 | $-1.3M | $-103.5M | ||
| Q3 24 | $867.0K | $-14.8M | ||
| Q2 24 | $365.0K | $-6.7M | ||
| Q1 24 | $3.1M | $-10.3M |
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | — | 29.7% | ||
| Q1 25 | — | 30.2% | ||
| Q4 24 | — | 31.1% | ||
| Q3 24 | — | 31.6% | ||
| Q2 24 | — | 30.7% | ||
| Q1 24 | — | 31.5% |
| Q4 25 | 2.9% | 6.3% | ||
| Q3 25 | -1.2% | -3.1% | ||
| Q2 25 | -4.2% | 7.4% | ||
| Q1 25 | 7.7% | 4.6% | ||
| Q4 24 | 4.5% | -53.1% | ||
| Q3 24 | 10.6% | 4.3% | ||
| Q2 24 | 6.0% | 3.9% | ||
| Q1 24 | 13.9% | 1.6% |
| Q4 25 | 3.2% | 1.0% | ||
| Q3 25 | -2.3% | -10.5% | ||
| Q2 25 | -6.1% | 3.9% | ||
| Q1 25 | -3.9% | 0.6% | ||
| Q4 24 | -3.4% | -51.5% | ||
| Q3 24 | 2.2% | -7.1% | ||
| Q2 24 | 1.0% | -3.3% | ||
| Q1 24 | 8.5% | -5.1% |
| Q4 25 | $0.04 | $0.25 | ||
| Q3 25 | $-0.03 | $-1.76 | ||
| Q2 25 | $-0.07 | $0.61 | ||
| Q1 25 | $-0.05 | $0.09 | ||
| Q4 24 | $-0.06 | $-8.41 | ||
| Q3 24 | $0.03 | $-1.20 | ||
| Q2 24 | $0.01 | $-0.54 | ||
| Q1 24 | $0.11 | $-0.85 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6M | $34.7M |
| Total DebtLower is stronger | $45.8M | $135.9M |
| Stockholders' EquityBook value | $122.9M | $291.1M |
| Total Assets | $222.2M | $752.5M |
| Debt / EquityLower = less leverage | 0.37× | 0.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.6M | $34.7M | ||
| Q3 25 | $4.4M | $31.7M | ||
| Q2 25 | $1.1M | $39.0M | ||
| Q1 25 | $2.8M | $31.1M | ||
| Q4 24 | $6.2M | $44.7M | ||
| Q3 24 | $12.0M | $33.3M | ||
| Q2 24 | $6.8M | $31.8M | ||
| Q1 24 | $14.1M | $48.5M |
| Q4 25 | $45.8M | $135.9M | ||
| Q3 25 | $51.3M | $140.0M | ||
| Q2 25 | $56.9M | $159.3M | ||
| Q1 25 | $54.9M | $171.4M | ||
| Q4 24 | $53.8M | $188.4M | ||
| Q3 24 | — | $231.5M | ||
| Q2 24 | — | $252.9M | ||
| Q1 24 | — | $287.5M |
| Q4 25 | $122.9M | $291.1M | ||
| Q3 25 | $121.1M | $297.3M | ||
| Q2 25 | $122.5M | $334.2M | ||
| Q1 25 | $122.7M | $320.0M | ||
| Q4 24 | $120.0M | $319.9M | ||
| Q3 24 | $-123.2M | $443.5M | ||
| Q2 24 | $92.8M | $442.0M | ||
| Q1 24 | $91.5M | $446.2M |
| Q4 25 | $222.2M | $752.5M | ||
| Q3 25 | $227.4M | $770.1M | ||
| Q2 25 | $230.3M | $810.1M | ||
| Q1 25 | $233.2M | $790.1M | ||
| Q4 24 | $222.4M | $816.0M | ||
| Q3 24 | $218.8M | $973.7M | ||
| Q2 24 | $166.9M | $976.8M | ||
| Q1 24 | $167.0M | $1.0B |
| Q4 25 | 0.37× | 0.47× | ||
| Q3 25 | 0.42× | 0.47× | ||
| Q2 25 | 0.46× | 0.48× | ||
| Q1 25 | 0.45× | 0.54× | ||
| Q4 24 | 0.45× | 0.59× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.64× |
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 | $5.3M | $22.4M |
| Free Cash FlowOCF − Capex | $1.3M | $20.9M |
| FCF MarginFCF / Revenue | 3.4% | 10.3% |
| Capex IntensityCapex / Revenue | 10.4% | 0.8% |
| Cash ConversionOCF / Net Profit | 4.38× | 10.83× |
| TTM Free Cash FlowTrailing 4 quarters | $-224.0K | $64.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $22.4M | ||
| Q3 25 | $10.0M | $22.9M | ||
| Q2 25 | $2.2M | $15.8M | ||
| Q1 25 | $2.4M | $9.3M | ||
| Q4 24 | $-3.7M | $38.5M | ||
| Q3 24 | $5.3M | $25.6M | ||
| Q2 24 | $1.1M | $23.1M | ||
| Q1 24 | $3.3M | $5.0M |
| Q4 25 | $1.3M | $20.9M | ||
| Q3 25 | $6.4M | $21.5M | ||
| Q2 25 | $-5.4M | $14.8M | ||
| Q1 25 | $-2.6M | $7.2M | ||
| Q4 24 | $-6.9M | $36.1M | ||
| Q3 24 | $2.0M | $24.3M | ||
| Q2 24 | $-9.0M | $21.6M | ||
| Q1 24 | $-2.9M | $2.1M |
| Q4 25 | 3.4% | 10.3% | ||
| Q3 25 | 16.5% | 10.9% | ||
| Q2 25 | -13.6% | 7.4% | ||
| Q1 25 | -6.1% | 3.7% | ||
| Q4 24 | -17.3% | 18.0% | ||
| Q3 24 | 4.9% | 11.7% | ||
| Q2 24 | -24.0% | 10.5% | ||
| Q1 24 | -7.9% | 1.0% |
| Q4 25 | 10.4% | 0.8% | ||
| Q3 25 | 9.1% | 0.7% | ||
| Q2 25 | 19.2% | 0.5% | ||
| Q1 25 | 11.8% | 1.1% | ||
| Q4 24 | 8.1% | 1.2% | ||
| Q3 24 | 8.4% | 0.6% | ||
| Q2 24 | 26.9% | 0.7% | ||
| Q1 24 | 16.8% | 1.4% |
| Q4 25 | 4.38× | 10.83× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.05× | ||
| Q1 25 | — | 8.31× | ||
| Q4 24 | — | — | ||
| Q3 24 | 6.15× | — | ||
| Q2 24 | 2.96× | — | ||
| Q1 24 | 1.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DTI
| Tool Rental | $30.4M | 79% |
| Products | $8.1M | 21% |
FET
| Drilling And Completions Segment | $127.2M | 63% |
| Artificial Lift And Downhole Segment | $75.5M | 37% |
