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1. Company Snapshot

1.a. Company Description

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East.The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.It provides subsea production and processing systems; subsea umbilicals, risers, and flowlines; vessels; and Subsea Studio for optimizing the development, execution, and operation of current and future subsea fields.


This segment also offers well and asset services; research, engineering, manufacturing, and supply chain; and product management services.The Surface Technologies segment designs, manufactures, and services products and systems used in land and shallow water exploration and production of crude oil and natural gas.This segment offers drilling and completion systems; surface wellheads and production trees systems; iComplete, a digitally enabled pressure control system; fracturing tree and manifold systems; pressure pumping; well service pumps; well control, safety and integrity systems, multiphase meter modules, in-line separation and processing systems, and standard pumps; flowback and well testing services; skid systems; automation and digital systems; and flow measurement and automation solutions.


It also offers planning, testing and installation, commissioning, operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment; and supplies flexible lines and flowline products and services.TechnipFMC plc has a strategic alliance with Talos Energy Inc.to develop and deliver technical and commercial solutions to Carbon Capture and Storage projects.


The company was founded in 1884 and is based in Newcastle Upon Tyne, the United Kingdom.

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1.b. Last Insights on FTI

TechnipFMC's recent performance was driven by strong Q3 earnings, beating estimates with $0.75 per share, surpassing the Zacks Consensus Estimate of $0.65. The company secured a major offshore contract for Maha Development, showcasing Subsea 2.0 technology. Additionally, institutional investors, including Campbell & CO Investment Adviser LLC and Bank of Montreal Can, increased their stakes in the company. A "Buy" consensus rating from 18 brokerages further supports the stock.

1.c. Company Highlights

2. TechnipFMC's Strong Q3 2025 Earnings: A Testament to Its Operational Excellence

TechnipFMC reported a robust financial performance in its third-quarter 2025 earnings, with total company revenue reaching $2.6 billion and adjusted EBITDA of $531 million, translating to a margin of 20.1%. The company's earnings per share (EPS) came in at $0.75, beating estimates of $0.65. The strong EPS was backed by the company's ability to generate $448 million in free cash flow, out of which $271 million was distributed to shareholders through dividends and share repurchases.

Publication Date: Oct -26

📋 Highlights
  • Strong Q3 2025 Financials:: Revenue of $2.6B, adjusted EBITDA of $531M (20.1% margin), and free cash flow of $448M, with $271M returned to shareholders via dividends/share buybacks.
  • Subsea Backlog & Growth:: $2.4B in Subsea orders (book-to-bill >1 for 15/6 quarters), with 2026 revenue guidance of $9.1-9.5B and a 175 bps margin improvement to 20.5-22% driven by Subsea 2.0.
  • Shareholder Returns Commitment:: $2.3B in buyback authorization (up from $2B) and plans to return at least 70% of free cash flow to shareholders, including $1.6B distributed since 2022.
  • Subsea 2.0 Impact:: 40% of capacity allocated to Subsea 2.0 by 2025, with 50%+ of orders expected to be Subsea 2.0 by 2026, accelerating margin growth and project efficiency.
  • Backlog & Execution Strength:: $10B in 2025 awards (potential for exceeding), $30B in 3-year inbound orders, and 80% of business from direct awards (no competitive tender), enabling faster cycle times and higher project returns.

Operational Highlights and Guidance

The company's subsea orders stood out, with bookings of $2.4 billion and a book-to-bill ratio above 1 for 15 of the past 6 quarters. TechnipFMC expects to deliver over $10 billion of subsea orders in 2025 and $30 billion of inbound over the last 3 years. For 2026, the company guided Subsea revenue to $9.1-9.5 billion with an adjusted EBITDA margin of 20.5-22%. The guidance implies a significant improvement in margins, driven by the Subsea 2.0 mix, Subsea services mix, and pricing improvement.

Share Repurchase and Dividend Distribution

TechnipFMC announced a $2 billion share repurchase authorization, increasing its current authorization to $2.3 billion. The company has distributed over $1.6 billion through buybacks and dividends since 2022 and plans to return at least 70% of free cash flow to shareholders. This commitment to returning value to shareholders is a testament to the company's confidence in its financial performance.

Valuation Metrics

With a P/E Ratio of 16.86, P/B Ratio of 4.93, and EV/EBITDA of 9.2, TechnipFMC's valuation appears reasonable, considering its strong operational performance and growth prospects. The company's ROE of 30.53% and ROIC of 20.53% indicate a high level of profitability. Analysts estimate next year's revenue growth at 6.8%, which, combined with the company's current valuation, suggests that the stock may be fairly valued.

Outlook and Opportunities

TechnipFMC sees significant opportunities for growth in offshore projects, driven by improvements in seismic data, shortened delivery times, and innovative technologies. The company's Subsea 2.0 and iEPCI offerings have had a profound impact on investment decisions, derisking and accelerating subsea projects. With a strong backlog and a high level of visibility into its opportunity set, TechnipFMC is well-positioned for continued success.

3. NewsRoom

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Fisher Asset Management LLC Decreases Position in TechnipFMC plc $FTI

Dec -04

Source: defenseworld.net

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FTI Consulting Appoints Jason Leow to Strategic Communications Segment in Singapore

Dec -04

Source: globenewswire.com

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FTI Consulting Continues Private Equity and Financial Services Investment With Addition of Four Senior Hires

Dec -03

Source: globenewswire.com

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Cetera Investment Advisers Has $1.36 Million Stock Holdings in TechnipFMC plc $FTI

Dec -02

Source: defenseworld.net

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TechnipFMC: Margin Growth Continuing

Dec -01

Source: seekingalpha.com

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TechnipFMC plc $FTI Shares Sold by Intech Investment Management LLC

Dec -01

Source: defenseworld.net

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TechnipFMC Secures Major Offshore Contract for Maha Development

Nov -19

Source:

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TechnipFMC plc (FTI) Presents at TD Cowen 2nd Annual Energy Conference Transcript

Nov -18

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.55%)

6. Segments

Subsea

Expected Growth: 6.5%

Subsea segment growth driven by increasing offshore oil and gas exploration, rising demand for deepwater production, and growing need for subsea infrastructure upgrades. TechnipFMC's leadership in subsea engineering, procurement, and construction (EPC) projects, as well as its innovative iEPCI (integrated EPC) model, position the company for continued growth.

Surface Technologies

Expected Growth: 6.8%

The 6.8% growth in Surface Technologies from TechnipFMC plc is driven by increasing demand for oil and gas production, rising adoption of digitalization and automation in the energy sector, and growing need for efficient and sustainable operations. Additionally, the segment benefits from TechnipFMC's strong brand reputation, diversified product portfolio, and strategic partnerships.

7. Detailed Products

Subsea

TechnipFMC plc provides subsea equipment and services for the oil and gas industry, including subsea trees, manifolds, and flowlines.

Surface

TechnipFMC plc offers surface wellhead and production equipment, including wellheads, trees, and flow control systems.

Process Technology

TechnipFMC plc provides process technology solutions for the oil and gas industry, including liquefied natural gas (LNG) and gas processing.

Integrated EPCI (Engineering, Procurement, Construction, and Installation)

TechnipFMC plc offers integrated EPCI services for the oil and gas industry, including project management, engineering, procurement, and installation.

Aftermarket Services

TechnipFMC plc provides aftermarket services, including maintenance, repair, and operations (MRO) services, for the oil and gas industry.

8. TechnipFMC plc's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for TechnipFMC plc is moderate due to the availability of alternative products and services in the oil and gas industry.

Bargaining Power Of Customers

The bargaining power of customers for TechnipFMC plc is low due to the company's strong market position and the lack of concentration among its customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers for TechnipFMC plc is moderate due to the presence of several large suppliers in the industry, but the company's scale and diversification mitigate this risk.

Threat Of New Entrants

The threat of new entrants for TechnipFMC plc is low due to the high barriers to entry in the oil and gas industry, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry for TechnipFMC plc is high due to the competitive nature of the oil and gas industry, with several large players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 27.90%
Debt Cost 12.08%
Equity Weight 72.10%
Equity Cost 12.08%
WACC 12.08%
Leverage 38.69%

11. Quality Control: TechnipFMC plc passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Gaztransport Technigaz

A-Score: 7.0/10

Value: 2.4

Growth: 8.1

Quality: 9.4

Yield: 6.9

Momentum: 8.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Subsea 7

A-Score: 6.2/10

Value: 6.6

Growth: 6.9

Quality: 4.8

Yield: 5.6

Momentum: 6.5

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Technip Energies

A-Score: 6.1/10

Value: 7.0

Growth: 5.1

Quality: 6.1

Yield: 3.8

Momentum: 10.0

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
SBM Offshore

A-Score: 5.8/10

Value: 7.6

Growth: 5.3

Quality: 3.9

Yield: 3.1

Momentum: 8.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
Saipem

A-Score: 5.2/10

Value: 8.2

Growth: 3.2

Quality: 4.2

Yield: 5.0

Momentum: 7.0

Volatility: 3.7

1-Year Total Return ->

View Full Report
Stock-Card
TechnipFMC

A-Score: 4.9/10

Value: 4.8

Growth: 5.1

Quality: 7.1

Yield: 0.6

Momentum: 8.5

Volatility: 3.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

46.02$

Current Price

46.02$

Potential

-0.00%

Expected Cash-Flows