At a glance
TechnipFMC PLC is worth $27.76B, about 31 times its fiscal 2025 earnings. Revenue grew 9.4% to $9.93B in fiscal 2025, with 9.7% kept as profit; over 5 years it has grown 8.7% a year. It pays a 0.28% dividend yield, and returned $1.84B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +74.1% over the past year with dividends reinvested and +57.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 70.9% in the 2020 crash (S&P 500: 33.7%) and 36.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 33 months and 1 month after the lows.
The business in plain English
TechnipFMC designs, builds and installs the equipment oil and gas companies use to produce from wells on the ocean floor. Its products include subsea trees (stacks of valves that sit on top of an underwater well), manifolds and control systems. It also makes the cables and pipes, known as umbilicals, risers and flowlines, that link wells to a platform or onshore plant. It runs a fleet of 16 installation vessels and builds underwater robots through Schilling Robotics.
The company says it is the only one able to handle a subsea project from early design to installation under a single contract. It calls this model iEPCI (integrated engineering, procurement, construction and installation). It says iEPCI makes up nearly one-third of the subsea market it can address. Once a field is running, it earns more from maintenance, repairs and other services. In fiscal 2025, services made up about 57% of its $9.93 billion revenue and products about 40%.
Subsea brought in 87.2% of revenue, and the smaller Surface Technologies segment brought in the other 12.8%. Customers include major and state-owned oil companies and independent producers. It has more than 40 clients, but two alone accounted for 15.5% and 14.0% of revenue. Brazil was the largest market at 21.7%, ahead of the United States (14.5%) and Norway (13.8%). Rivals include Baker Hughes, OneSubsea, Saipem and Subsea 7.
Price history
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FTI +74.1% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Service revenue | $5.64B | 56.8% |
| Product revenue | $4.00B | 40.3% |
By business segment
| Subsea | $8.67B | 87.2% |
| Surface Technologies | $1.27B | 12.8% |
By geography
| Brazil | $2.16B | 21.7% |
| United States | $1.44B | 14.5% |
| Norway | $1.38B | 13.8% |
| United Kingdom | $840.2M | 8.5% |
| All other countries | $768.2M | 7.7% |
| Guyana | $748.9M | 7.5% |
| Angola | $535.6M | 5.4% |
| Australia | $390.8M | 3.9% |
| Nigeria | $326.9M | 3.3% |
| Indonesia | $325.7M | 3.3% |
| Israel | $268.0M | 2.7% |
| Mozambique | $216.7M | 2.2% |
| United Arab Emirates | $214.3M | 2.2% |
| Saudi Arabia | $196.1M | 2% |
| Suriname | $131.5M | 1.3% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $2.90B, up 9.4% from a year earlier, and net income was $418.4M (+35.1%).
- For fiscal 2025, revenue was $9.93B (+9.4% year over year; +8.7% a year from FY2020 to FY2025) with a 9.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.7% good |
|---|---|
| Operating margin | 14.5% watch |
| Free cash flow margin | 14.6% good |
| Return on equity (FY2025) | 28.7% good |
| Return on assets (FY2025) | 9.5% good |
| Net cash (cash minus debt) | $645.3M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $6.53B | $-3.29B | $400.8M |
| FY2021 | $6.40B | $13.3M | $589.6M |
| FY2022 | $6.70B | $-107.2M | $194.2M |
| FY2023 | $7.82B | $56.2M | $467.8M |
| FY2024 | $9.08B | $842.9M | $679.4M |
| FY2025 | $9.93B | $963.9M | $1.45B |
Valuation snapshot
| Market value | $27.76B |
|---|---|
| P/E ratio | 31 |
| Dividend yield | 0.28% |
Rank among 1514 US companies
Market value at each year end
TechnipFMC’s market value went from $10.90B at the end of 2017 to $27.76B on Oct 28, 2026, about 2.5 times as much; since the end of 2025 it is up 48%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $27.76B | +48.1% |
| 2025 | $18.74B | +52.2% |
| 2024 | $12.31B | +40.4% |
| 2023 | $8.77B | +61.2% |
| 2022 | $5.44B | +104.0% |
| 2021 | $2.67B | -15.4% |
| 2020 | $3.15B | -55.9% |
| 2019 | $7.15B | +8.2% |
| 2018 | $6.61B | -39.3% |
| 2017 | $10.90B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FTI price data to Oct 28, 2026 | +60.6% | +74.1% | +49.9% | +57.3% | +12.5% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +60.6% |
| 2025 | +54.9% |
| 2024 | +44.8% |
| 2023 | +66.1% |
| 2022 | +105.9% |
| 2021 | -15.6% |
| 2020 | -55.3% |
| 2019 | +12.1% |
| 2018 | -36.3% |
| 2017 | -10.1% |
| 2016 | +22.5% |
| 2015 | -38.1% |
| 2014 | -10.3% |
| 2013 | +21.9% |
| 2012 | -18.0% |
| 2011 | +17.5% |
| 2010 | +53.7% |
| 2009 | +142.7% |
| 2008 | -55.7% |
| 2007 | +84.0% |
| 2006 | +43.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 56.4% over that stretch · deepest drop along the way 73.5%, back to its old high 23.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 62.6% over that stretch · deepest drop along the way 70.9%, back to its old high 32.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 45.2% over that stretch · deepest drop along the way 36.7%, back to its old high 1 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 1 open-market purchases ($500K) and 12 sales ($58.6M), 7 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 9, 2026 | Douglas J. Pferdehirt Chair and CEO, Director | sell (plan) | $19.8M |
| Mar 9, 2026 | Douglas J. Pferdehirt Chair and CEO, Director | sell (plan) | $15.6M |
| Mar 9, 2026 | Douglas J. Pferdehirt Chair and CEO, Director | sell (plan) | $10.2M |
| Mar 9, 2026 | Justin Rounce EVP & Chief Technology Officer | sell (plan) | $4.7M |
| Mar 9, 2026 | Justin Rounce EVP & Chief Technology Officer | sell (plan) | $3.1M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 10.9% | May 31, 2026 |
| T. Rowe Price Associates, Inc. | 6.5% | Jun 30, 2026 |
| Vanguard Capital Management | 5.25% | Mar 31, 2026 |
| T. Rowe Price Investment Management, Inc. | 4.2% | Mar 31, 2026 |
| FMR LLC | 3.8% | Jun 30, 2025 |
ETFs with the most weight in FTI
| IEZ iShares U.S. Oil Equipment & Services ETF | 4.97% |
| MVPA Miller Value Partners Appreciation ETF | 2.35% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 1.56% |
| DSTL Distillate US Fundamental Stability & Value ETF | 0.68% |
| MSSM Morgan Stanley Pathway Small-Mid Cap Equity ETF | 0.4% |
| ESML iShares ESG Aware MSCI USA Small-Cap ETF | 0.39% |
| BKMC BNY Mellon US Mid Cap Core Equity ETF | 0.36% |
| VFMF Vanguard U.S. Multifactor ETF | 0.31% |
What could go wrong
- A few customers drive much of revenue. Two customers made up 15.5% and 14.0% of fiscal 2025 revenue, and Brazil alone was 21.7%. Losing several major contracts, clients or alliances, or trouble in one key region, could hurt results.
- Fixed-price contracts can turn into losses. With a fixed-price contract, the price is set before work begins. If costs run higher than planned on a large, complex offshore project, the company absorbs the overrun and can lose money.
- Delivering the backlog on time. Backlog is signed work not yet completed. Late delivery could hurt future sales, profits and customer relationships. The company relies on subcontractors, suppliers and joint venture partners to get the work done.
- Orders rise and fall with oil spending. Demand depends on how much oil and gas producers spend on exploration and development, which follows energy prices. A long pullback could shrink new orders and lead customers to cancel or delay existing work.
- Piracy, conflict and political upheaval. Vessels and crews face piracy and maritime conflicts. Political, economic or social upheaval in any of the many countries where it works could disrupt projects. Seasonal weather also slows offshore activity.
- Climate rules and the energy transition. Laws aimed at cutting greenhouse gas emissions could weigh on demand for oil and gas equipment and raise compliance costs. The company is exploring new-energy investments, and those markets are uncertain.
Recent events
- Quarterly results released
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Executive or board change; Shareholder vote results
- Quarterly results released
- Quarterly results released
For income and retirement investors
TechnipFMC pays a small dividend: $0.20 per share in each of fiscal 2023, 2024 and 2025. It paid none in 2021 and 2022, so it has no streak of increases. The yield was 0.28% as of October 28, 2026. Dividends used just 8.5% of 2025 earnings and 5.7% of free cash flow (cash left after capital spending). For an income investor, returns would come mostly from the share price, not regular payments. Buybacks matter more: $1.62 billion of share repurchases from fiscal 2021 to 2025, against $212 million in dividends. The share count fell 13% between October 2021 and July 2026.
The shares have fallen hard in downturns. They dropped 73.5% in the 2008 financial crisis and took about 23.5 months to recover. They fell 70.9% in the 2020 COVID crash and took about 32.5 months. In 2022 they slid 36.7% from April to July but recovered within about a month. A single stock carries more risk than a diversified fund.
Questions investors ask
How does TechnipFMC make money?
TechnipFMC makes money by designing, building and installing equipment for offshore oil and gas fields, then servicing it over the life of the field. Its Subsea segment covers seafloor production systems, the pipes and cables that link wells to platforms, and a fleet of 16 installation vessels. It produced 87.2% of the company's $9.93 billion revenue in fiscal 2025. Surface Technologies supplied the other 12.8%. By type, services made up about 57% of revenue and products about 40%.
Does TechnipFMC pay a dividend?
Yes, but it is small. TechnipFMC paid $0.20 per share in each of fiscal 2023, 2024 and 2025, and the yield was 0.28% as of October 28, 2026. It paid no dividend in fiscal 2021 or 2022, so it has no record of yearly increases. The company returns far more cash through buybacks: $1.62 billion of share repurchases from fiscal 2021 to 2025, compared with $212 million in dividends.
How has TechnipFMC stock performed?
Strongly over five years, though the longer record is bumpier. As of October 28, 2026, the share price was up 74.1% over one year and 862% in total over five years. Over ten years it gained 12.5% a year on average, a stretch that includes a 55% drop in 2020. At its worst, the stock has fallen 91.6% from a past peak. As of the same date, it traded at 31 times fiscal 2025 earnings (its price-to-earnings ratio).
How much debt does TechnipFMC have?
Less than it holds in cash. As of June 30, 2026, TechnipFMC had $401.9 million of total debt and $991.8 million in cash and investments. That left net cash (cash minus debt) of $589.9 million. Even so, the company lists debt among its risks. A cut to its credit rating could make borrowing harder. Customers also require bonds as guarantees on big contracts, and these can reduce what is available under its credit line.
Does TechnipFMC depend on oil prices?
Yes, indirectly. The company says demand for its products and services depends on how much oil and gas producers spend on exploration and development, and that spending tracks oil and gas prices. A long pullback could shrink new orders and lead customers to cancel or delay work in its backlog (signed work not yet completed). The share price has swung widely: it fell 70.9% in the 2020 COVID crash and took about 32.5 months to recover.