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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $208.7M, roughly 1.2× FORUM ENERGY TECHNOLOGIES, INC.). Tecnoglass Inc. runs the higher net margin — 10.6% vs 2.2%, a 8.5% gap on every dollar of revenue. On growth, FORUM ENERGY TECHNOLOGIES, INC. posted the faster year-over-year revenue change (3.2% vs 2.4%). Tecnoglass Inc. produced more free cash flow last quarter ($11.4M vs $1.4M). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% 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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
FET vs TGLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.7M | $245.3M |
| Net Profit | $4.5M | $26.1M |
| Gross Margin | 29.2% | 40.0% |
| Operating Margin | 5.3% | 18.3% |
| Net Margin | 2.2% | 10.6% |
| Revenue YoY | 3.2% | 2.4% |
| Net Profit YoY | 300.4% | -44.5% |
| EPS (diluted) | $0.39 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $196.2M | $260.5M | ||
| Q2 25 | $199.8M | $255.5M | ||
| Q1 25 | $193.3M | $222.3M | ||
| Q4 24 | $201.0M | $239.6M | ||
| Q3 24 | $207.8M | $238.3M | ||
| Q2 24 | $205.2M | $219.7M |
| Q1 26 | $4.5M | — | ||
| Q4 25 | $2.1M | $26.1M | ||
| Q3 25 | $-20.6M | $47.2M | ||
| Q2 25 | $7.7M | $44.1M | ||
| Q1 25 | $1.1M | $42.2M | ||
| Q4 24 | $-103.5M | $47.0M | ||
| Q3 24 | $-14.8M | $49.5M | ||
| Q2 24 | $-6.7M | $35.0M |
| Q1 26 | 29.2% | — | ||
| Q4 25 | 30.2% | 40.0% | ||
| Q3 25 | 20.5% | 42.7% | ||
| Q2 25 | 29.7% | 44.7% | ||
| Q1 25 | 30.2% | 43.9% | ||
| Q4 24 | 31.1% | 44.5% | ||
| Q3 24 | 31.6% | 45.8% | ||
| Q2 24 | 30.7% | 40.8% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 6.3% | 18.3% | ||
| Q3 25 | -3.1% | 25.1% | ||
| Q2 25 | 7.4% | 24.0% | ||
| Q1 25 | 4.6% | 26.7% | ||
| Q4 24 | -53.1% | 28.0% | ||
| Q3 24 | 4.3% | 28.4% | ||
| Q2 24 | 3.9% | 23.3% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.0% | 10.6% | ||
| Q3 25 | -10.5% | 18.1% | ||
| Q2 25 | 3.9% | 17.3% | ||
| Q1 25 | 0.6% | 19.0% | ||
| Q4 24 | -51.5% | 19.6% | ||
| Q3 24 | -7.1% | 20.8% | ||
| Q2 24 | -3.3% | 15.9% |
| Q1 26 | $0.39 | — | ||
| Q4 25 | $0.25 | $0.57 | ||
| Q3 25 | $-1.76 | $1.01 | ||
| Q2 25 | $0.61 | $0.94 | ||
| Q1 25 | $0.09 | $0.90 | ||
| Q4 24 | $-8.41 | $1.00 | ||
| Q3 24 | $-1.20 | $1.05 | ||
| Q2 24 | $-0.54 | $0.75 |
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 | $104.1M |
| Total DebtLower is stronger | $153.7M | $174.4M |
| Stockholders' EquityBook value | $280.7M | $713.1M |
| Total Assets | $763.1M | $1.3B |
| Debt / EquityLower = less leverage | 0.55× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $37.5M | — | ||
| Q4 25 | $34.7M | $104.1M | ||
| Q3 25 | $31.7M | $127.1M | ||
| Q2 25 | $39.0M | $140.9M | ||
| Q1 25 | $31.1M | $160.2M | ||
| Q4 24 | $44.7M | $137.5M | ||
| Q3 24 | $33.3M | $124.8M | ||
| Q2 24 | $31.8M | $129.5M |
| Q1 26 | $153.7M | — | ||
| Q4 25 | $135.9M | $174.4M | ||
| Q3 25 | $140.0M | $114.7M | ||
| Q2 25 | $159.3M | $110.6M | ||
| Q1 25 | $171.4M | $110.6M | ||
| Q4 24 | $188.4M | $111.1M | ||
| Q3 24 | $231.5M | $126.8M | ||
| Q2 24 | $252.9M | $144.7M |
| Q1 26 | $280.7M | — | ||
| Q4 25 | $291.1M | $713.1M | ||
| Q3 25 | $297.3M | $764.0M | ||
| Q2 25 | $334.2M | $736.0M | ||
| Q1 25 | $320.0M | $685.1M | ||
| Q4 24 | $319.9M | $631.2M | ||
| Q3 24 | $443.5M | $613.3M | ||
| Q2 24 | $442.0M | $574.8M |
| Q1 26 | $763.1M | — | ||
| Q4 25 | $752.5M | $1.3B | ||
| Q3 25 | $770.1M | $1.2B | ||
| Q2 25 | $810.1M | $1.2B | ||
| Q1 25 | $790.1M | $1.1B | ||
| Q4 24 | $816.0M | $1.0B | ||
| Q3 24 | $973.7M | $996.3M | ||
| Q2 24 | $976.8M | $942.5M |
| Q1 26 | 0.55× | — | ||
| Q4 25 | 0.47× | 0.24× | ||
| Q3 25 | 0.47× | 0.15× | ||
| Q2 25 | 0.48× | 0.15× | ||
| Q1 25 | 0.54× | 0.16× | ||
| Q4 24 | 0.59× | 0.18× | ||
| Q3 24 | 0.52× | 0.21× | ||
| Q2 24 | 0.57× | 0.25× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $1.4M | $11.4M |
| FCF MarginFCF / Revenue | 0.7% | 4.7% |
| Capex IntensityCapex / Revenue | 0.1% | 8.0% |
| Cash ConversionOCF / Net Profit | 0.36× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $58.5M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.6M | — | ||
| Q4 25 | $22.4M | $31.0M | ||
| Q3 25 | $22.9M | $40.0M | ||
| Q2 25 | $15.8M | $17.9M | ||
| Q1 25 | $9.3M | $46.9M | ||
| Q4 24 | $38.5M | $61.1M | ||
| Q3 24 | $25.6M | $41.5M | ||
| Q2 24 | $23.1M | $34.5M |
| Q1 26 | $1.4M | — | ||
| Q4 25 | $20.9M | $11.4M | ||
| Q3 25 | $21.5M | $21.2M | ||
| Q2 25 | $14.8M | $-14.7M | ||
| Q1 25 | $7.2M | $16.5M | ||
| Q4 24 | $36.1M | $35.4M | ||
| Q3 24 | $24.3M | $17.8M | ||
| Q2 24 | $21.6M | $14.2M |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 10.3% | 4.7% | ||
| Q3 25 | 10.9% | 8.2% | ||
| Q2 25 | 7.4% | -5.7% | ||
| Q1 25 | 3.7% | 7.4% | ||
| Q4 24 | 18.0% | 14.8% | ||
| Q3 24 | 11.7% | 7.5% | ||
| Q2 24 | 10.5% | 6.5% |
| Q1 26 | 0.1% | — | ||
| Q4 25 | 0.8% | 8.0% | ||
| Q3 25 | 0.7% | 7.2% | ||
| Q2 25 | 0.5% | 12.7% | ||
| Q1 25 | 1.1% | 13.7% | ||
| Q4 24 | 1.2% | 10.7% | ||
| Q3 24 | 0.6% | 9.9% | ||
| Q2 24 | 0.7% | 9.2% |
| Q1 26 | 0.36× | — | ||
| Q4 25 | 10.83× | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | 2.05× | 0.41× | ||
| Q1 25 | 8.31× | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
