TechnipFMC
FTINYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $64.55 Prior regular-session close from the quote source.
- $64.22–$66.18 Regular-session low and high so far today.
- 2.9M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 18 projected Projected for 2027-02-18 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $42.46–$80.70 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own FTI if its integrated subsea model keeps converting the offshore development cycle into higher-margin, cash-generative project and equipment work.
FTI price history
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Investment thesis
What must happen next
Offshore customers continue to prefer TechnipFMC’s integrated project, product, and service model because it reduces interface risk and execution complexity in subsea developments.StrengtheningMateriality: High
GAAP annual revenue increased from $6.7004 billion in FY2022 to $9.9326 billion in FY2025. If this holds, TechnipFMC should keep converting offshore project activity into revenue; if it breaks, the company becomes a more commoditized equipment and services supplier.
Watch: Major offshore operators award integrated subsea work to SLB OneSubsea, Baker Hughes, or Aker Solutions instead of TechnipFMC.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $6.7004 billion in FY2022 to $9.9326 billion in FY2025.
Open source ↗TechnipFMC’s integrated delivery and subsea technology translate scale into better execution and pricing, so incremental project activity carries attractive operating leverage rather than being competed away.StrengtheningMateriality: High
GAAP annual operating income rose from $375.9 million in FY2022 to $1.4361 billion in FY2025, faster than revenue over the same period. If operating leverage persists, owners get earnings expansion above revenue growth; if execution slips or pricing weakens, the same revenue growth can become low-quality.
Watch: Fixed-price or long-cycle subsea projects experience cost overruns, installation delays, warranty claims, or liquidated damages.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income rose from $375.9 million in FY2022 to $1.4361 billion in FY2025, faster than revenue over the.
Open source ↗The business model converts the offshore upcycle into cash rather than trapping value in working capital, because customer advances, project discipline, and execution quality fund operations through the cycle.StrengtheningMateriality: Medium
GAAP annual operating cash flow increased from $352.1 million in FY2022 to $1.7646 billion in FY2025. If cash conversion holds, TechnipFMC can self-fund growth and shareholder returns; if it fails, reported earnings overstate owner value and balance-sheet risk rises.
Watch: Large subsea awards require materially higher inventory, receivables, or contract assets before customer milestone payments are received.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow increased from $352.1 million in FY2022 to $1.7646 billion in FY2025.
Open source ↗TechnipFMC has enough liquidity and equity cushion to ride normal offshore project cyclicality without being forced into distressed financing or sacrificing strategic awards.StrengtheningMateriality: Medium
Cash and cash equivalents were $1.0319 billion at FY2025 year-end. If resilience holds, cyclical volatility is survivable and potentially accretive; if not, downturns can dilute owners or force value-destructive retrenchment.
Watch: A sharp offshore capex downturn causes customers to cancel, delay, or renegotiate projects while TechnipFMC remains committed to suppliers and capacity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash and cash equivalents were $1.0319 billion at FY2025 year-end.
Open source ↗
Full investment case & evidence
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Original research
Offshore customers continue to prefer TechnipFMC’s integrated project, product, and service model because it reduces interface risk and execution complexity in subsea developments. If this holds, TechnipFMC should keep converting offshore project activity into revenue; if it breaks, the company becomes a more commoditized equipment and services supplier.
TechnipFMC’s integrated delivery and subsea technology translate scale into better execution and pricing, so incremental project activity carries attractive operating leverage rather than being competed away. If operating leverage persists, owners get earnings expansion above revenue growth; if execution slips or pricing weakens, the same revenue growth can become low-quality.
The business model converts the offshore upcycle into cash rather than trapping value in working capital, because customer advances, project discipline, and execution quality fund operations through the cycle. If cash conversion holds, TechnipFMC can self-fund growth and shareholder returns; if it fails, reported earnings overstate owner value and balance-sheet risk rises.
TechnipFMC has enough liquidity and equity cushion to ride normal offshore project cyclicality without being forced into distressed financing or sacrificing strategic awards. If resilience holds, cyclical volatility is survivable and potentially accretive; if not, downturns can dilute owners or force value-destructive retrenchment.
All standing thesis claims
Original report summary
its integrated subsea model keeps converting the offshore development cycle into higher-margin, cash-generative project and equipment work.
Bull case and bear case
Bull case and bear case for TechnipFMC
Where the evidence on TechnipFMC stands: Strengthening on the latest evidence (Oct 15, 2026). Of its 4 thesis points, 4 strengthening.
Bull case: what the evidence supports
Offshore customers continue to prefer TechnipFMC’s integrated project, product, and service model because it reduces interface risk and execution complexity in subsea developments.
TechnipFMC’s integrated delivery and subsea technology translate scale into better execution and pricing, so incremental project activity carries attractive operating leverage rather than being competed away.
The business model converts the offshore upcycle into cash rather than trapping value in working capital, because customer advances, project discipline, and execution quality fund operations through the cycle.
TechnipFMC has enough liquidity and equity cushion to ride normal offshore project cyclicality without being forced into distressed financing or sacrificing strategic awards.
Bear case: what would count against it
Major offshore operators award integrated subsea work to SLB OneSubsea, Baker Hughes, or Aker Solutions instead of TechnipFMC.
Fixed-price or long-cycle subsea projects experience cost overruns, installation delays, warranty claims, or liquidated damages.
Large subsea awards require materially higher inventory, receivables, or contract assets before customer milestone payments are received.
Thesis-Break Engine
What has broken in TechnipFMC’s thesis
Each break OptimistFi flagged on TechnipFMC, dated — with what has historically followed the same kind of break across the market, not a forecast for TechnipFMC.
- Sharp drawdowncondition set before this filing
Across all companies, this kind of break has happened 15,428 times before. Those stocks beat comparable companies by a median of 1% over the next six months, and 33% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
TechnipFMC filed an SEC 8-K on 2026-07-30: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
TechnipFMC filed an SEC 8-K on 2026-06-01: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
TechnipFMC filed an SEC 8-K on 2026-05-01: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Major offshore operators award integrated subsea work to SLB OneSubsea, Baker Hughes, or Aker Solutions instead of TechnipFMC.
- Fixed-price or long-cycle subsea projects experience cost overruns, installation delays, warranty claims, or liquidated damages.
- Large subsea awards require materially higher inventory, receivables, or contract assets before customer milestone payments are received.
- A sharp offshore capex downturn causes customers to cancel, delay, or renegotiate projects while TechnipFMC remains committed to suppliers and capacity.
FTI news
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Financial statements
FTI income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
FTI: quick answers
- When does TechnipFMC (FTI) report earnings next?
- TechnipFMC's next results are projected for February 18, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 29, 2026. Earnings calendar
- What is FTI's short interest?
- As of October 30, 2026, 13.6M FTI shares were sold short, 3.51% of its shares outstanding, down 8.7% from the count before. At the stock's average daily volume that is 4.6 days to cover. FINRA publishes the count twice a month. FTI short interest history
- Have members of Congress traded FTI?
- 3 trades in FTI have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed FTI trade
- Which well-known investors own FTI?
- 2 of the 37 well-known funds tracked here reported FTI shares in their latest 13F filings. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.3%; Miller Value Partners (Bill Miller), 0.1%. Fund portfolios
FTI in well-known investors’ portfolios
2 of 37 funds reported FTI shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.27% | $65.6M | +294.7% | Q2 2026 |
| Bill MillerMiller Value Partners | 0.05% | $210K | No change | Q2 2026 |