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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) and Bio-Techne (TECH). Click either name above to swap in a different company.
Bio-Techne is the larger business by last-quarter revenue ($295.9M vs $208.7M, roughly 1.4× FORUM ENERGY TECHNOLOGIES, INC.). Bio-Techne runs the higher net margin — 12.8% vs 2.2%, a 10.7% gap on every dollar of revenue. On growth, FORUM ENERGY TECHNOLOGIES, INC. posted the faster year-over-year revenue change (3.2% vs -6.4%). Over the past eight quarters, Bio-Techne's revenue compounded faster (4.2% 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.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
FET vs TECH — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.7M | $295.9M |
| Net Profit | $4.5M | $38.0M |
| Gross Margin | 29.2% | 64.6% |
| Operating Margin | 5.3% | 18.4% |
| Net Margin | 2.2% | 12.8% |
| Revenue YoY | 3.2% | -6.4% |
| Net Profit YoY | 300.4% | 68.3% |
| EPS (diluted) | $0.39 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $196.2M | — | ||
| Q2 25 | $199.8M | $317.0M | ||
| Q1 25 | $193.3M | $316.2M | ||
| Q4 24 | $201.0M | $297.0M | ||
| Q3 24 | $207.8M | $289.5M | ||
| Q2 24 | $205.2M | $306.1M |
| Q1 26 | $4.5M | — | ||
| Q4 25 | $2.1M | $38.0M | ||
| Q3 25 | $-20.6M | — | ||
| Q2 25 | $7.7M | $-17.7M | ||
| Q1 25 | $1.1M | $22.6M | ||
| Q4 24 | $-103.5M | $34.9M | ||
| Q3 24 | $-14.8M | $33.6M | ||
| Q2 24 | $-6.7M | $40.6M |
| Q1 26 | 29.2% | — | ||
| Q4 25 | 30.2% | 64.6% | ||
| Q3 25 | 20.5% | — | ||
| Q2 25 | 29.7% | 62.7% | ||
| Q1 25 | 30.2% | 67.9% | ||
| Q4 24 | 31.1% | 65.3% | ||
| Q3 24 | 31.6% | 63.2% | ||
| Q2 24 | 30.7% | 66.4% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 6.3% | 18.4% | ||
| Q3 25 | -3.1% | — | ||
| Q2 25 | 7.4% | -7.5% | ||
| Q1 25 | 4.6% | 12.2% | ||
| Q4 24 | -53.1% | 16.0% | ||
| Q3 24 | 4.3% | 13.8% | ||
| Q2 24 | 3.9% | 15.0% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.0% | 12.8% | ||
| Q3 25 | -10.5% | — | ||
| Q2 25 | 3.9% | -5.6% | ||
| Q1 25 | 0.6% | 7.1% | ||
| Q4 24 | -51.5% | 11.7% | ||
| Q3 24 | -7.1% | 11.6% | ||
| Q2 24 | -3.3% | 13.3% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.25 | $0.24 | ||
| Q3 25 | $-1.76 | — | ||
| Q2 25 | $0.61 | $-0.11 | ||
| Q1 25 | $0.09 | $0.14 | ||
| Q4 24 | $-8.41 | $0.22 | ||
| Q3 24 | $-1.20 | $0.21 | ||
| Q2 24 | $-0.54 | $0.26 |
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 | $172.9M |
| Total DebtLower is stronger | $153.7M | $260.0M |
| Stockholders' EquityBook value | $280.7M | $2.0B |
| Total Assets | $763.1M | $2.5B |
| Debt / EquityLower = less leverage | 0.55× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $37.5M | — | ||
| Q4 25 | $34.7M | $172.9M | ||
| Q3 25 | $31.7M | — | ||
| Q2 25 | $39.0M | $162.2M | ||
| Q1 25 | $31.1M | $140.7M | ||
| Q4 24 | $44.7M | $177.5M | ||
| Q3 24 | $33.3M | $187.5M | ||
| Q2 24 | $31.8M | $152.9M |
| Q1 26 | $153.7M | — | ||
| Q4 25 | $135.9M | $260.0M | ||
| Q3 25 | $140.0M | — | ||
| Q2 25 | $159.3M | $346.0M | ||
| Q1 25 | $171.4M | $330.0M | ||
| Q4 24 | $188.4M | $300.0M | ||
| Q3 24 | $231.5M | $300.0M | ||
| Q2 24 | $252.9M | $319.0M |
| Q1 26 | $280.7M | — | ||
| Q4 25 | $291.1M | $2.0B | ||
| Q3 25 | $297.3M | — | ||
| Q2 25 | $334.2M | $1.9B | ||
| Q1 25 | $320.0M | $2.0B | ||
| Q4 24 | $319.9M | $2.1B | ||
| Q3 24 | $443.5M | $2.1B | ||
| Q2 24 | $442.0M | $2.1B |
| Q1 26 | $763.1M | — | ||
| Q4 25 | $752.5M | $2.5B | ||
| Q3 25 | $770.1M | — | ||
| Q2 25 | $810.1M | $2.6B | ||
| Q1 25 | $790.1M | $2.6B | ||
| Q4 24 | $816.0M | $2.7B | ||
| Q3 24 | $973.7M | $2.7B | ||
| Q2 24 | $976.8M | $2.7B |
| Q1 26 | 0.55× | — | ||
| Q4 25 | 0.47× | 0.13× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.48× | 0.18× | ||
| Q1 25 | 0.54× | 0.16× | ||
| Q4 24 | 0.59× | 0.14× | ||
| Q3 24 | 0.52× | 0.14× | ||
| Q2 24 | 0.57× | 0.15× |
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 | — |
| Free Cash FlowOCF − Capex | $1.4M | — |
| FCF MarginFCF / Revenue | 0.7% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 0.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $58.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6M | — | ||
| Q4 25 | $22.4M | — | ||
| Q3 25 | $22.9M | — | ||
| Q2 25 | $15.8M | $98.2M | ||
| Q1 25 | $9.3M | $41.1M | ||
| Q4 24 | $38.5M | $84.3M | ||
| Q3 24 | $25.6M | $63.9M | ||
| Q2 24 | $23.1M | $75.5M |
| Q1 26 | $1.4M | — | ||
| Q4 25 | $20.9M | — | ||
| Q3 25 | $21.5M | — | ||
| Q2 25 | $14.8M | $93.3M | ||
| Q1 25 | $7.2M | $31.0M | ||
| Q4 24 | $36.1M | $77.5M | ||
| Q3 24 | $24.3M | $54.7M | ||
| Q2 24 | $21.6M | $57.5M |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 10.3% | — | ||
| Q3 25 | 10.9% | — | ||
| Q2 25 | 7.4% | 29.4% | ||
| Q1 25 | 3.7% | 9.8% | ||
| Q4 24 | 18.0% | 26.1% | ||
| Q3 24 | 11.7% | 18.9% | ||
| Q2 24 | 10.5% | 18.8% |
| Q1 26 | 0.1% | — | ||
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.5% | 1.5% | ||
| Q1 25 | 1.1% | 3.2% | ||
| Q4 24 | 1.2% | 2.3% | ||
| Q3 24 | 0.6% | 3.2% | ||
| Q2 24 | 0.7% | 5.9% |
| Q1 26 | 0.36× | — | ||
| Q4 25 | 10.83× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.05× | — | ||
| Q1 25 | 8.31× | 1.82× | ||
| Q4 24 | — | 2.42× | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.86× |
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% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
