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Side-by-side financial comparison of FORUM ENERGY TECHNOLOGIES, INC. (FET) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $202.2M, roughly 1.7× FORUM ENERGY TECHNOLOGIES, INC.). FORUM ENERGY TECHNOLOGIES, INC. runs the higher net margin — 1.0% vs -12.9%, a 13.9% gap on every dollar of revenue. On growth, FORUM ENERGY TECHNOLOGIES, INC. posted the faster year-over-year revenue change (0.6% vs -0.4%). FORUM ENERGY TECHNOLOGIES, INC. produced more free cash flow last quarter ($20.9M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% 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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
FET vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.2M | $340.0M |
| Net Profit | $2.1M | $-13.9M |
| Gross Margin | 30.2% | — |
| Operating Margin | 6.3% | -17.2% |
| Net Margin | 1.0% | -12.9% |
| Revenue YoY | 0.6% | -0.4% |
| Net Profit YoY | 102.0% | -131.0% |
| EPS (diluted) | $0.25 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $196.2M | $337.7M | ||
| Q2 25 | $199.8M | $319.2M | ||
| Q1 25 | $193.3M | $237.4M | ||
| Q4 24 | $201.0M | $341.5M | ||
| Q3 24 | $207.8M | $292.3M | ||
| Q2 24 | $205.2M | $270.7M | ||
| Q1 24 | $202.4M | $228.1M |
| Q4 25 | $2.1M | $-13.9M | ||
| Q3 25 | $-20.6M | $33.5M | ||
| Q2 25 | $7.7M | $34.0M | ||
| Q1 25 | $1.1M | $2.8M | ||
| Q4 24 | $-103.5M | $44.8M | ||
| Q3 24 | $-14.8M | $28.8M | ||
| Q2 24 | $-6.7M | $22.7M | ||
| Q1 24 | $-10.3M | $11.9M |
| 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% | -17.2% | ||
| Q3 25 | -3.1% | 13.6% | ||
| Q2 25 | 7.4% | 14.5% | ||
| Q1 25 | 4.6% | 2.2% | ||
| Q4 24 | -53.1% | 15.3% | ||
| Q3 24 | 4.3% | 12.8% | ||
| Q2 24 | 3.9% | 10.4% | ||
| Q1 24 | 1.6% | 6.0% |
| Q4 25 | 1.0% | -12.9% | ||
| Q3 25 | -10.5% | 9.9% | ||
| Q2 25 | 3.9% | 10.6% | ||
| Q1 25 | 0.6% | 1.2% | ||
| Q4 24 | -51.5% | 13.1% | ||
| Q3 24 | -7.1% | 9.9% | ||
| Q2 24 | -3.3% | 8.4% | ||
| Q1 24 | -5.1% | 5.2% |
| Q4 25 | $0.25 | $-0.41 | ||
| Q3 25 | $-1.76 | $0.98 | ||
| Q2 25 | $0.61 | $0.99 | ||
| Q1 25 | $0.09 | $0.08 | ||
| Q4 24 | $-8.41 | $1.32 | ||
| Q3 24 | $-1.20 | $0.85 | ||
| Q2 24 | $-0.54 | $0.67 | ||
| Q1 24 | $-0.85 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $135.9M | — |
| Stockholders' EquityBook value | $291.1M | $1.7B |
| Total Assets | $752.5M | $5.1B |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.7M | $299.3M | ||
| Q3 25 | $31.7M | $274.8M | ||
| Q2 25 | $39.0M | $233.7M | ||
| Q1 25 | $31.1M | $181.0M | ||
| Q4 24 | $44.7M | $279.3M | ||
| Q3 24 | $33.3M | $179.8M | ||
| Q2 24 | $31.8M | $208.1M | ||
| Q1 24 | $48.5M | $216.5M |
| 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 | $1.7B | ||
| Q3 25 | $297.3M | $1.8B | ||
| Q2 25 | $334.2M | $1.8B | ||
| Q1 25 | $320.0M | $1.7B | ||
| Q4 24 | $319.9M | $1.7B | ||
| Q3 24 | $443.5M | $1.7B | ||
| Q2 24 | $442.0M | $1.7B | ||
| Q1 24 | $446.2M | $1.7B |
| Q4 25 | $752.5M | $5.1B | ||
| Q3 25 | $770.1M | $5.8B | ||
| Q2 25 | $810.1M | $4.7B | ||
| Q1 25 | $790.1M | $4.5B | ||
| Q4 24 | $816.0M | $4.4B | ||
| Q3 24 | $973.7M | $4.6B | ||
| Q2 24 | $976.8M | $4.2B | ||
| Q1 24 | $1.0B | $3.8B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $20.9M | $-680.1M |
| FCF MarginFCF / Revenue | 10.3% | -200.0% |
| Capex IntensityCapex / Revenue | 0.8% | 4.6% |
| Cash ConversionOCF / Net Profit | 10.83× | — |
| TTM Free Cash FlowTrailing 4 quarters | $64.4M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $-664.3M | ||
| Q3 25 | $22.9M | $-948.1M | ||
| Q2 25 | $15.8M | $-238.5M | ||
| Q1 25 | $9.3M | $-281.1M | ||
| Q4 24 | $38.5M | $129.4M | ||
| Q3 24 | $25.6M | $-202.0M | ||
| Q2 24 | $23.1M | $-237.8M | ||
| Q1 24 | $5.0M | $38.4M |
| Q4 25 | $20.9M | $-680.1M | ||
| Q3 25 | $21.5M | $-950.4M | ||
| Q2 25 | $14.8M | $-241.0M | ||
| Q1 25 | $7.2M | $-284.7M | ||
| Q4 24 | $36.1M | $116.4M | ||
| Q3 24 | $24.3M | $-204.0M | ||
| Q2 24 | $21.6M | $-241.7M | ||
| Q1 24 | $2.1M | $35.2M |
| Q4 25 | 10.3% | -200.0% | ||
| Q3 25 | 10.9% | -281.5% | ||
| Q2 25 | 7.4% | -75.5% | ||
| Q1 25 | 3.7% | -120.0% | ||
| Q4 24 | 18.0% | 34.1% | ||
| Q3 24 | 11.7% | -69.8% | ||
| Q2 24 | 10.5% | -89.3% | ||
| Q1 24 | 1.0% | 15.4% |
| Q4 25 | 0.8% | 4.6% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.5% | 0.8% | ||
| Q1 25 | 1.1% | 1.5% | ||
| Q4 24 | 1.2% | 3.8% | ||
| Q3 24 | 0.6% | 0.7% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 1.4% | 1.4% |
| Q4 25 | 10.83× | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | 2.05× | -7.02× | ||
| Q1 25 | 8.31× | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
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% |
WD
Segment breakdown not available.
