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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) and Industrial Logistics Properties Trust (ILPT). 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 $113.9M, roughly 1.8× Industrial Logistics Properties Trust). FORUM ENERGY TECHNOLOGIES, INC. runs the higher net margin — 1.0% vs -1.6%, a 2.6% gap on every dollar of revenue. On growth, Industrial Logistics Properties Trust posted the faster year-over-year revenue change (3.1% vs 0.6%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $20.9M). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% 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.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
FET vs ILPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.2M | $113.9M |
| Net Profit | $2.1M | $-1.8M |
| Gross Margin | 30.2% | — |
| Operating Margin | 6.3% | -22.1% |
| Net Margin | 1.0% | -1.6% |
| Revenue YoY | 0.6% | 3.1% |
| Net Profit YoY | 102.0% | 92.6% |
| EPS (diluted) | $0.25 | $-0.02 |
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 | $113.9M | ||
| Q3 25 | $196.2M | $110.9M | ||
| Q2 25 | $199.8M | $112.1M | ||
| Q1 25 | $193.3M | $111.9M | ||
| Q4 24 | $201.0M | $110.5M | ||
| Q3 24 | $207.8M | $108.9M | ||
| Q2 24 | $205.2M | $110.6M | ||
| Q1 24 | $202.4M | $112.2M |
| Q4 25 | $2.1M | $-1.8M | ||
| Q3 25 | $-20.6M | $-21.6M | ||
| Q2 25 | $7.7M | $-21.3M | ||
| Q1 25 | $1.1M | $-21.5M | ||
| Q4 24 | $-103.5M | $-24.1M | ||
| Q3 24 | $-14.8M | $-25.0M | ||
| Q2 24 | $-6.7M | $-23.2M | ||
| Q1 24 | $-10.3M | $-23.4M |
| 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 | 6.3% | -22.1% | ||
| Q3 25 | -3.1% | -29.4% | ||
| Q2 25 | 7.4% | -30.8% | ||
| Q1 25 | 4.6% | -26.9% | ||
| Q4 24 | -53.1% | -31.1% | ||
| Q3 24 | 4.3% | -33.5% | ||
| Q2 24 | 3.9% | -32.4% | ||
| Q1 24 | 1.6% | -31.7% |
| Q4 25 | 1.0% | -1.6% | ||
| Q3 25 | -10.5% | -19.4% | ||
| Q2 25 | 3.9% | -19.0% | ||
| Q1 25 | 0.6% | -19.2% | ||
| Q4 24 | -51.5% | -21.8% | ||
| Q3 24 | -7.1% | -22.9% | ||
| Q2 24 | -3.3% | -20.9% | ||
| Q1 24 | -5.1% | -20.9% |
| Q4 25 | $0.25 | $-0.02 | ||
| Q3 25 | $-1.76 | $-0.33 | ||
| Q2 25 | $0.61 | $-0.32 | ||
| Q1 25 | $0.09 | $-0.33 | ||
| Q4 24 | $-8.41 | $-0.37 | ||
| Q3 24 | $-1.20 | $-0.38 | ||
| Q2 24 | $-0.54 | $-0.35 | ||
| Q1 24 | $-0.85 | $-0.36 |
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 | $94.8M |
| Total DebtLower is stronger | $135.9M | $4.2B |
| Stockholders' EquityBook value | $291.1M | $489.7M |
| Total Assets | $752.5M | $5.2B |
| Debt / EquityLower = less leverage | 0.47× | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.7M | $94.8M | ||
| Q3 25 | $31.7M | $83.2M | ||
| Q2 25 | $39.0M | $58.6M | ||
| Q1 25 | $31.1M | $108.0M | ||
| Q4 24 | $44.7M | $131.7M | ||
| Q3 24 | $33.3M | $153.9M | ||
| Q2 24 | $31.8M | $146.2M | ||
| Q1 24 | $48.5M | $128.4M |
| Q4 25 | $135.9M | $4.2B | ||
| Q3 25 | $140.0M | $4.2B | ||
| Q2 25 | $159.3M | $4.2B | ||
| Q1 25 | $171.4M | $4.3B | ||
| Q4 24 | $188.4M | $4.3B | ||
| Q3 24 | $231.5M | $4.3B | ||
| Q2 24 | $252.9M | $4.3B | ||
| Q1 24 | $287.5M | $4.3B |
| Q4 25 | $291.1M | $489.7M | ||
| Q3 25 | $297.3M | $494.1M | ||
| Q2 25 | $334.2M | $519.1M | ||
| Q1 25 | $320.0M | $539.5M | ||
| Q4 24 | $319.9M | $562.0M | ||
| Q3 24 | $443.5M | $585.9M | ||
| Q2 24 | $442.0M | $618.3M | ||
| Q1 24 | $446.2M | $643.2M |
| Q4 25 | $752.5M | $5.2B | ||
| Q3 25 | $770.1M | $5.2B | ||
| Q2 25 | $810.1M | $5.2B | ||
| Q1 25 | $790.1M | $5.4B | ||
| Q4 24 | $816.0M | $5.4B | ||
| Q3 24 | $973.7M | $5.5B | ||
| Q2 24 | $976.8M | $5.5B | ||
| Q1 24 | $1.0B | $5.5B |
| Q4 25 | 0.47× | 8.56× | ||
| Q3 25 | 0.47× | 8.49× | ||
| Q2 25 | 0.48× | 8.09× | ||
| Q1 25 | 0.54× | 7.96× | ||
| Q4 24 | 0.59× | 7.65× | ||
| Q3 24 | 0.52× | 7.35× | ||
| Q2 24 | 0.57× | 6.96× | ||
| Q1 24 | 0.64× | 6.70× |
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 | $60.7M |
| Free Cash FlowOCF − Capex | $20.9M | $42.0M |
| FCF MarginFCF / Revenue | 10.3% | 36.9% |
| Capex IntensityCapex / Revenue | 0.8% | 16.4% |
| Cash ConversionOCF / Net Profit | 10.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | $64.4M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $60.7M | ||
| Q3 25 | $22.9M | $22.7M | ||
| Q2 25 | $15.8M | $18.4M | ||
| Q1 25 | $9.3M | $11.4M | ||
| Q4 24 | $38.5M | $2.0M | ||
| Q3 24 | $25.6M | $-3.4M | ||
| Q2 24 | $23.1M | $10.8M | ||
| Q1 24 | $5.0M | $8.0M |
| Q4 25 | $20.9M | $42.0M | ||
| Q3 25 | $21.5M | $17.6M | ||
| Q2 25 | $14.8M | $15.2M | ||
| Q1 25 | $7.2M | $5.0M | ||
| Q4 24 | $36.1M | $-3.7M | ||
| Q3 24 | $24.3M | $-5.9M | ||
| Q2 24 | $21.6M | $9.4M | ||
| Q1 24 | $2.1M | $5.9M |
| Q4 25 | 10.3% | 36.9% | ||
| Q3 25 | 10.9% | 15.9% | ||
| Q2 25 | 7.4% | 13.5% | ||
| Q1 25 | 3.7% | 4.5% | ||
| Q4 24 | 18.0% | -3.4% | ||
| Q3 24 | 11.7% | -5.5% | ||
| Q2 24 | 10.5% | 8.5% | ||
| Q1 24 | 1.0% | 5.2% |
| Q4 25 | 0.8% | 16.4% | ||
| Q3 25 | 0.7% | 4.6% | ||
| Q2 25 | 0.5% | 2.9% | ||
| Q1 25 | 1.1% | 5.7% | ||
| Q4 24 | 1.2% | 5.2% | ||
| Q3 24 | 0.6% | 2.3% | ||
| Q2 24 | 0.7% | 1.3% | ||
| Q1 24 | 1.4% | 1.9% |
| Q4 25 | 10.83× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.05× | — | ||
| Q1 25 | 8.31× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
ILPT
Segment breakdown not available.
