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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
FORUM ENERGY TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($208.7M vs $159.9M, roughly 1.3× INSTEEL INDUSTRIES INC). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs 2.2%, a 2.6% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 3.2%). FORUM ENERGY TECHNOLOGIES, INC. produced more free cash flow last quarter ($1.4M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% 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.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
FET vs IIIN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.7M | $159.9M |
| Net Profit | $4.5M | $7.6M |
| Gross Margin | 29.2% | 11.3% |
| Operating Margin | 5.3% | 6.0% |
| Net Margin | 2.2% | 4.7% |
| Revenue YoY | 3.2% | 23.3% |
| Net Profit YoY | 300.4% | 602.4% |
| EPS (diluted) | $0.39 | $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 | $202.2M | $159.9M | ||
| Q3 25 | $196.2M | $177.4M | ||
| Q2 25 | $199.8M | $179.9M | ||
| Q1 25 | $193.3M | $160.7M | ||
| Q4 24 | $201.0M | $129.7M | ||
| Q3 24 | $207.8M | $134.3M | ||
| Q2 24 | $205.2M | $145.8M |
| Q1 26 | $4.5M | — | ||
| Q4 25 | $2.1M | $7.6M | ||
| Q3 25 | $-20.6M | $14.6M | ||
| Q2 25 | $7.7M | $15.2M | ||
| Q1 25 | $1.1M | $10.2M | ||
| Q4 24 | $-103.5M | $1.1M | ||
| Q3 24 | $-14.8M | $4.7M | ||
| Q2 24 | $-6.7M | $6.6M |
| Q1 26 | 29.2% | — | ||
| Q4 25 | 30.2% | 11.3% | ||
| Q3 25 | 20.5% | 16.1% | ||
| Q2 25 | 29.7% | 17.1% | ||
| Q1 25 | 30.2% | 15.3% | ||
| Q4 24 | 31.1% | 7.3% | ||
| Q3 24 | 31.6% | 9.1% | ||
| Q2 24 | 30.7% | 10.6% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 6.3% | 6.0% | ||
| Q3 25 | -3.1% | 10.8% | ||
| Q2 25 | 7.4% | 11.0% | ||
| Q1 25 | 4.6% | 8.3% | ||
| Q4 24 | -53.1% | 1.1% | ||
| Q3 24 | 4.3% | 4.5% | ||
| Q2 24 | 3.9% | 6.0% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.0% | 4.7% | ||
| Q3 25 | -10.5% | 8.2% | ||
| Q2 25 | 3.9% | 8.4% | ||
| Q1 25 | 0.6% | 6.4% | ||
| Q4 24 | -51.5% | 0.8% | ||
| Q3 24 | -7.1% | 3.5% | ||
| Q2 24 | -3.3% | 4.5% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.25 | $0.39 | ||
| Q3 25 | $-1.76 | $0.74 | ||
| Q2 25 | $0.61 | $0.78 | ||
| Q1 25 | $0.09 | $0.52 | ||
| Q4 24 | $-8.41 | $0.06 | ||
| Q3 24 | $-1.20 | $0.24 | ||
| Q2 24 | $-0.54 | $0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $37.5M | $15.6M |
| Total DebtLower is stronger | $153.7M | — |
| Stockholders' EquityBook value | $280.7M | $358.8M |
| Total Assets | $763.1M | $456.1M |
| Debt / EquityLower = less leverage | 0.55× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $37.5M | — | ||
| Q4 25 | $34.7M | $15.6M | ||
| Q3 25 | $31.7M | $38.6M | ||
| Q2 25 | $39.0M | $53.7M | ||
| Q1 25 | $31.1M | $28.4M | ||
| Q4 24 | $44.7M | $36.0M | ||
| Q3 24 | $33.3M | $111.5M | ||
| Q2 24 | $31.8M | $97.7M |
| Q1 26 | $153.7M | — | ||
| 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 26 | $280.7M | — | ||
| Q4 25 | $291.1M | $358.8M | ||
| Q3 25 | $297.3M | $371.5M | ||
| Q2 25 | $334.2M | $356.2M | ||
| Q1 25 | $320.0M | $341.4M | ||
| Q4 24 | $319.9M | $331.6M | ||
| Q3 24 | $443.5M | $350.9M | ||
| Q2 24 | $442.0M | $346.0M |
| Q1 26 | $763.1M | — | ||
| Q4 25 | $752.5M | $456.1M | ||
| Q3 25 | $770.1M | $462.6M | ||
| Q2 25 | $810.1M | $471.9M | ||
| Q1 25 | $790.1M | $421.9M | ||
| Q4 24 | $816.0M | $404.7M | ||
| Q3 24 | $973.7M | $422.6M | ||
| Q2 24 | $976.8M | $414.6M |
| Q1 26 | 0.55× | — | ||
| 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× | — |
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 | $1.6M | $-701.0K |
| Free Cash FlowOCF − Capex | $1.4M | $-2.2M |
| FCF MarginFCF / Revenue | 0.7% | -1.4% |
| Capex IntensityCapex / Revenue | 0.1% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.36× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $58.5M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6M | — | ||
| Q4 25 | $22.4M | $-701.0K | ||
| Q3 25 | $22.9M | $-17.0M | ||
| Q2 25 | $15.8M | $28.5M | ||
| Q1 25 | $9.3M | $-3.3M | ||
| Q4 24 | $38.5M | $19.0M | ||
| Q3 24 | $25.6M | $16.2M | ||
| Q2 24 | $23.1M | $18.8M |
| Q1 26 | $1.4M | — | ||
| Q4 25 | $20.9M | $-2.2M | ||
| Q3 25 | $21.5M | $-18.7M | ||
| Q2 25 | $14.8M | $26.9M | ||
| Q1 25 | $7.2M | $-5.5M | ||
| Q4 24 | $36.1M | $16.3M | ||
| Q3 24 | $24.3M | $14.5M | ||
| Q2 24 | $21.6M | $15.5M |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 10.3% | -1.4% | ||
| Q3 25 | 10.9% | -10.6% | ||
| Q2 25 | 7.4% | 15.0% | ||
| Q1 25 | 3.7% | -3.5% | ||
| Q4 24 | 18.0% | 12.6% | ||
| Q3 24 | 11.7% | 10.8% | ||
| Q2 24 | 10.5% | 10.7% |
| Q1 26 | 0.1% | — | ||
| Q4 25 | 0.8% | 0.9% | ||
| Q3 25 | 0.7% | 1.0% | ||
| Q2 25 | 0.5% | 0.9% | ||
| Q1 25 | 1.1% | 1.4% | ||
| Q4 24 | 1.2% | 2.1% | ||
| Q3 24 | 0.6% | 1.3% | ||
| Q2 24 | 0.7% | 2.2% |
| Q1 26 | 0.36× | — | ||
| Q4 25 | 10.83× | -0.09× | ||
| Q3 25 | — | -1.17× | ||
| Q2 25 | 2.05× | 1.88× | ||
| Q1 25 | 8.31× | -0.32× | ||
| Q4 24 | — | 17.56× | ||
| Q3 24 | — | 3.48× | ||
| Q2 24 | — | 2.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FET
| Drilling and Completions | $126.7M | 61% |
| Downhole | $50.6M | 24% |
| Production Equipment | $18.8M | 9% |
| Valve Solutions | $12.8M | 6% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
