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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) and GRID DYNAMICS HOLDINGS, INC. (GDYN). 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 $106.2M, roughly 1.9× GRID DYNAMICS HOLDINGS, INC.). FORUM ENERGY TECHNOLOGIES, INC. runs the higher net margin — 1.0% vs 0.3%, a 0.7% gap on every dollar of revenue. On growth, GRID DYNAMICS HOLDINGS, INC. posted the faster year-over-year revenue change (5.9% vs 0.6%). FORUM ENERGY TECHNOLOGIES, INC. produced more free cash flow last quarter ($20.9M vs $6.1M). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (15.3% CAGR vs -0.0%).
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries worldwide.
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
FET vs GDYN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.2M | $106.2M |
| Net Profit | $2.1M | $306.0K |
| Gross Margin | 30.2% | 34.0% |
| Operating Margin | 6.3% | 0.5% |
| Net Margin | 1.0% | 0.3% |
| Revenue YoY | 0.6% | 5.9% |
| Net Profit YoY | 102.0% | -93.2% |
| EPS (diluted) | $0.25 | $0.01 |
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 | $202.2M | $106.2M | ||
| Q3 25 | $196.2M | $104.2M | ||
| Q2 25 | $199.8M | $101.1M | ||
| Q1 25 | $193.3M | $100.4M | ||
| Q4 24 | $201.0M | $100.3M | ||
| Q3 24 | $207.8M | $87.4M | ||
| Q2 24 | $205.2M | $83.0M | ||
| Q1 24 | $202.4M | $79.8M |
| Q4 25 | $2.1M | $306.0K | ||
| Q3 25 | $-20.6M | $1.2M | ||
| Q2 25 | $7.7M | $5.3M | ||
| Q1 25 | $1.1M | $2.9M | ||
| Q4 24 | $-103.5M | $4.5M | ||
| Q3 24 | $-14.8M | $4.3M | ||
| Q2 24 | $-6.7M | $-817.0K | ||
| Q1 24 | $-10.3M | $-3.9M |
| Q4 25 | 30.2% | 34.0% | ||
| Q3 25 | 20.5% | 33.3% | ||
| Q2 25 | 29.7% | 34.1% | ||
| Q1 25 | 30.2% | 36.8% | ||
| Q4 24 | 31.1% | 36.9% | ||
| Q3 24 | 31.6% | 37.4% | ||
| Q2 24 | 30.7% | 35.6% | ||
| Q1 24 | 31.5% | 34.7% |
| Q4 25 | 6.3% | 0.5% | ||
| Q3 25 | -3.1% | -0.2% | ||
| Q2 25 | 7.4% | -0.1% | ||
| Q1 25 | 4.6% | -2.0% | ||
| Q4 24 | -53.1% | 1.3% | ||
| Q3 24 | 4.3% | 2.4% | ||
| Q2 24 | 3.9% | 0.0% | ||
| Q1 24 | 1.6% | -6.9% |
| Q4 25 | 1.0% | 0.3% | ||
| Q3 25 | -10.5% | 1.1% | ||
| Q2 25 | 3.9% | 5.2% | ||
| Q1 25 | 0.6% | 2.9% | ||
| Q4 24 | -51.5% | 4.5% | ||
| Q3 24 | -7.1% | 4.9% | ||
| Q2 24 | -3.3% | -1.0% | ||
| Q1 24 | -5.1% | -4.9% |
| Q4 25 | $0.25 | $0.01 | ||
| Q3 25 | $-1.76 | $0.01 | ||
| Q2 25 | $0.61 | $0.06 | ||
| Q1 25 | $0.09 | $0.03 | ||
| Q4 24 | $-8.41 | $0.06 | ||
| Q3 24 | $-1.20 | $0.05 | ||
| Q2 24 | $-0.54 | $-0.01 | ||
| Q1 24 | $-0.85 | $-0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.7M | $342.1M |
| Total DebtLower is stronger | $135.9M | — |
| Stockholders' EquityBook value | $291.1M | $542.1M |
| Total Assets | $752.5M | $612.9M |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.7M | $342.1M | ||
| Q3 25 | $31.7M | $338.6M | ||
| Q2 25 | $39.0M | $336.8M | ||
| Q1 25 | $31.1M | $325.5M | ||
| Q4 24 | $44.7M | $334.7M | ||
| Q3 24 | $33.3M | $231.3M | ||
| Q2 24 | $31.8M | $256.0M | ||
| Q1 24 | $48.5M | $249.4M |
| Q4 25 | $135.9M | — | ||
| Q3 25 | $140.0M | — | ||
| Q2 25 | $159.3M | — | ||
| Q1 25 | $171.4M | — | ||
| Q4 24 | $188.4M | — | ||
| Q3 24 | $231.5M | — | ||
| Q2 24 | $252.9M | — | ||
| Q1 24 | $287.5M | — |
| Q4 25 | $291.1M | $542.1M | ||
| Q3 25 | $297.3M | $537.7M | ||
| Q2 25 | $334.2M | $532.2M | ||
| Q1 25 | $320.0M | $517.4M | ||
| Q4 24 | $319.9M | $517.8M | ||
| Q3 24 | $443.5M | $400.2M | ||
| Q2 24 | $442.0M | $388.4M | ||
| Q1 24 | $446.2M | $382.8M |
| Q4 25 | $752.5M | $612.9M | ||
| Q3 25 | $770.1M | $613.2M | ||
| Q2 25 | $810.1M | $608.9M | ||
| Q1 25 | $790.1M | $590.9M | ||
| Q4 24 | $816.0M | $592.2M | ||
| Q3 24 | $973.7M | $477.3M | ||
| Q2 24 | $976.8M | $443.6M | ||
| Q1 24 | $1.0B | $435.3M |
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.54× | — | ||
| Q4 24 | 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 | $22.4M | $9.9M |
| Free Cash FlowOCF − Capex | $20.9M | $6.1M |
| FCF MarginFCF / Revenue | 10.3% | 5.7% |
| Capex IntensityCapex / Revenue | 0.8% | 3.6% |
| Cash ConversionOCF / Net Profit | 10.83× | 32.34× |
| TTM Free Cash FlowTrailing 4 quarters | $64.4M | $25.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $9.9M | ||
| Q3 25 | $22.9M | $7.0M | ||
| Q2 25 | $15.8M | $14.4M | ||
| Q1 25 | $9.3M | $9.4M | ||
| Q4 24 | $38.5M | $7.1M | ||
| Q3 24 | $25.6M | $9.2M | ||
| Q2 24 | $23.1M | $10.7M | ||
| Q1 24 | $5.0M | $3.2M |
| Q4 25 | $20.9M | $6.1M | ||
| Q3 25 | $21.5M | $2.9M | ||
| Q2 25 | $14.8M | $10.2M | ||
| Q1 25 | $7.2M | $6.0M | ||
| Q4 24 | $36.1M | $4.4M | ||
| Q3 24 | $24.3M | $5.9M | ||
| Q2 24 | $21.6M | $8.0M | ||
| Q1 24 | $2.1M | $43.0K |
| Q4 25 | 10.3% | 5.7% | ||
| Q3 25 | 10.9% | 2.8% | ||
| Q2 25 | 7.4% | 10.1% | ||
| Q1 25 | 3.7% | 6.0% | ||
| Q4 24 | 18.0% | 4.4% | ||
| Q3 24 | 11.7% | 6.8% | ||
| Q2 24 | 10.5% | 9.7% | ||
| Q1 24 | 1.0% | 0.1% |
| Q4 25 | 0.8% | 3.6% | ||
| Q3 25 | 0.7% | 3.9% | ||
| Q2 25 | 0.5% | 4.1% | ||
| Q1 25 | 1.1% | 3.3% | ||
| Q4 24 | 1.2% | 2.6% | ||
| Q3 24 | 0.6% | 3.7% | ||
| Q2 24 | 0.7% | 3.2% | ||
| Q1 24 | 1.4% | 4.0% |
| Q4 25 | 10.83× | 32.34× | ||
| Q3 25 | — | 5.92× | ||
| Q2 25 | 2.05× | 2.73× | ||
| Q1 25 | 8.31× | 3.21× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FET
| Drilling And Completions Segment | $127.2M | 63% |
| Artificial Lift And Downhole Segment | $75.5M | 37% |
GDYN
| Other | $30.6M | 29% |
| Technology Media And Telecom | $30.1M | 28% |
| Financial Service | $24.3M | 23% |
| Manufactured Product Other | $10.8M | 10% |
| Related Party | $7.6M | 7% |
| Health Care | $2.8M | 3% |
