FTK
FLOTEK INDUSTRIES INC/CN/
Next earnings Aug 3, 2026 · consensus $0.13 EPS, $67.7M rev
Last earnings +1.3% on 2026-05-05
$22.16
▲ +1.33%$22.16▲ +55.18%
over 1Y
L $11.04EODHDH $24.82
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.3%
1W-8.9%
1M+5.1%
3M+27.2%
YTD+30.0%
1Y+55.2%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 10 analysts
Buy
Headline growth is real but masks a customer-concentration crutch — ProFrac shortfall fees are doing the heavy lifting, capping upside at 26x P/E.
Revenue $237M · FY2025
The read
Middling fundamentals offset by an attractive price (~44% below fair value) — worth a look on the value angle.
Flotek's FY2025 print looks spectacular on the surface: revenue +26.9% to $237M, net income +190.8% to $30.5M, operating income +90.6% to $23.2M, and 27.0% ROE. But the MD&A reveals the quality-of-earnings problem: $27.4M of FY2025 revenue is ProFrac Contract Shortfall Fees — liquidated damages for a related party failing to meet minimum purchase volumes for the SECOND consecutive year (FY2024 shortfall was $32.4M). That means ~11.6% of reported revenue is essentially a penalty payment, and even worse, the March 2026 OSP Agreement settled those $27.4M of fees for only $19.7M in actual consideration ($7.2M cash + $12.5M equipment credit), implying material cash discounting of related-party receivables. Strip the shortfall fees and core organic revenue is closer to $210M — still growth, but a different story than the headline.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $39.6M | $136M | $188M | $187M | $237M |
| Gross profit | $3.26M | -$6.70M | $24.3M | $39.4M | $59.8M |
| Operating income | -$31.5M | -$35.4M | $23.2M | $12.2M | $23.2M |
| Net income | -$30.5M | -$42.3M | $24.7M | $10.5M | $30.5M |
| Diluted EPS | -$0.42 | -$3.41 | -$0.10 | $0.34 | $0.84 |
| Net margin | -77.0% | -31.1% | 13.1% | 5.6% | 12.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$837M
EV / EBITDA34.5
EV / Sales3.5
EV / FCF123.4
P / FCF118.2
PEG (trailing)0.14
Earnings yield3.8%
FCF yield0.8%
Quality & risk
ROIC (est.)11.9%
Free cash flow$6.78M
Total debt$41.4M
Net cash-$35.7M
Altman Z-Score4.37 safe
Piotroski F-Score4/9
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+21.3%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-15
Annual meeting vote results disclosed; routine governance outcome
- 10-Q Quarterly report2026-05-07
Q1 2026 quarterly results filed; ongoing operations update
- 8-K Earnings results2026-05-05
Q1 2026 earnings release issued (Item 2.02)
- DEF 14A Proxy statement2026-04-02
Annual proxy filed; routine governance matters for vote
- 10-K Annual report2026-03-16
FY25 rev $237M (+27%), NI $30.5M (+191%); $27.4M ProFrac shortfall settled $19.7M
- 8-K Earnings results2026-03-11
Q4/FY2025 earnings release: revenue +27%, NI nearly tripled YoY
- 8-K Reg FD disclosure2026-03-03
Reg FD disclosure (likely investor presentation/materials)
- 8-K Reg FD disclosure2026-03-02
Reg FD disclosure (likely investor presentation/materials)
- 8-K Officer / director change2026-02-25
Officer/director change announced (Item 5.02)
Recent filings
all on EDGAR ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗4Period ending 2026-05-152026-05-18open ↗144Filing2026-05-18open ↗8-KPeriod ending 2026-05-152026-05-15open ↗10-QPeriod ending 2026-03-312026-05-07open ↗8-KPeriod ending 2026-05-052026-05-05open ↗4Period ending 2026-03-022026-04-06open ↗3Period ending 2026-03-022026-04-06open ↗ARSPeriod ending 2025-12-312026-04-02open ↗
Frequently asked
- Is FLOTEK INDUSTRIES INC/CN/ (FTK) a buy?
- FTK currently carries a Hold rating with 2/5 conviction, derived from its latest SEC filings. Headline growth is real but masks a customer-concentration crutch — ProFrac shortfall fees are doing the heavy lifting, capping upside at 26x P/E.
- What is FTK's fair value?
- A Modified-Graham model based on FTK's SEC fundamentals estimates a fair value of about $31.92. It is an estimate from reported earnings, not a price target.
- Is FTK overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, FTK currently appears undervalued relative to its SEC-grounded earnings power.
- What is FLOTEK INDUSTRIES INC/CN/'s quality score?
- FTK scores 79.0392156862745/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000928054, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 3:01:53 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.