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TechnipFMC plc
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 81 Ready View all →
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$31.9B
Market Cap
19.4
P/E
0.95
PEG
26.9%
ROCE
29.6%
ROE
0.34
D/E
13.3%
OPM
-5.7%
% from 52W High
88
α RS
🔍 FTI is showing a high-conviction setup because it matches 18 of 37 tracked screener presets, Sector RRG has Energy in the Leading quadrant with the trail still rolling over, and RS Rating is 88. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 18/37 · Energy in Leading quadrant · RS Rating 88
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🌏 Global Investor Returns
Currency-adjusted total returns for FTI including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

TechnipFMC plc engages in the oil and natural gas projects, technologies, systems, and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally.

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📈 Growth Pattern
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⭐ Superinvestors Holding FTI
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 53.1K $3.7M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$2.8B
+9% YoY
Subsea Operating Profit
$486.5M
+27.9% YoY
Subsea Operating Margin
19.6%
+240 bps YoY
Net Income
$362.7M
+34.6% YoY
Adjusted EBITDA
$581.9M
+11.7% YoY
Free Cash Flow
$488M
Not discussed.
What Went Right
  • Subsea revenue jumped 12.6% sequentially to $2.49B, with adjusted EBITDA margin up 320 bps to 23.2%.
  • Total company adjusted EBITDA reached $601M excluding FX, driving an increased full-year EBITDA guidance to $2.19B.
  • Free cash flow was $488M and shareholder distributions of $440M represented 90% of FCF for the quarter.
What to Watch
  • Surface Technologies revenue fell 3% sequentially due to the Middle East conflict and lower North America activity.
  • The quarter included a $19.3M foreign exchange loss, which reduced reported adjusted EBITDA.
  • Subsea 2026 inbound is weighted toward smaller brownfield/tieback projects, so fewer large press releases may be seen.
Management Guidance
  • Q3 Subsea revenue and adjusted EBITDA margin are expected to be in line with Q2.
  • Q3 Surface Technologies revenue expected to increase mid-to-high single digits sequentially, with adjusted EBITDA margin of approximately 17.5%.
  • Full-year 2026 total company adjusted EBITDA now expected to be approximately $2.19B excluding FX; free cash flow tracking toward $1.45B, the high end of guidance.
  • Subsea full-year revenue and adjusted EBITDA margin expected near the top end of guidance; Surface revenue closer to low end, margin just above midpoint.
  • Company reiterates $10B of Subsea inbound in 2026 and expects a step-up in orders in 2027 and through the end of the decade.
Investor Lens
The investment thesis is stronger after this quarter. TechnipFMC delivered a clear EBITDA beat, raised full-year guidance above the beat, and generated strong cash flow while returning most of it to shareholders. Subsea margins scaled to 23.2%, supported by execution, iEPCI momentum, and a record opportunity list. The shift to larger greenfield awards in 2027 plus the eventual industrialization of iEPCI 2.0 points to continued margin and order upside.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong Q2: revenue up 9%, Subsea margin 23.2%, FCF $488M.
Revenue
Total company revenue was $2.76B, up 9% year-over-year. Subsea revenue grew 12.2% year-over-year to $2.49B, while Surface Technologies revenue declined 3% sequentially to $276M due to Middle East conflict and lower North America activity.
Profitability
Net income was $362.7M, up 34.6% year-over-year, with diluted EPS of $0.90 versus $0.64 in the prior-year quarter. Adjusted net income came in at $367.1M, and adjusted diluted EPS was $0.91.
Margins
Adjusted EBITDA margin was 21.1% reported, or 21.8% excluding FX. Subsea adjusted EBITDA margin improved 320 bps sequentially to 23.2%, while Surface Technologies adjusted EBITDA margin rose 70 bps sequentially to 18.1% despite lower revenue.
Balance Sheet
Cash and cash equivalents were $992M, with a net cash position of $590M. Free cash flow was $488M on capex of $60M, and the company returned $440M to shareholders during the quarter, or 90% of FCF; YTD distributions were 95% of FCF.
Key Risks
Management noted the Middle East conflict is impacting Surface Technologies activity, and FX headwinds reduced reported EBITDA by $19.3M. Subsea 2026 inbound is more reliant on smaller projects, so order announcements may be less frequent even as the $10B target stays intact.
Outlook
For Q3, Subsea revenue and adjusted EBITDA margin are expected to be in line with Q2 and Surface Technologies revenue is expected to rise mid-to-high single digits. Full-year total adjusted EBITDA guidance was raised to approximately $2.19B excluding FX, with FCF tracking to the high end at $1.45B.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-30
Q2 2026 saw strong revenue and EBITDA growth, robust free cash flow, and significant shareholder returns. Subsea margins exceeded 23%, with a record pipeline and raised full-year guidance. Offshore and subsea markets remain strong, with continued innovation and expanding collaboration.
Q1 2026 Q1 2026 2026-04-30
Revenue reached $2.5B with strong Subsea performance and $277M free cash flow. Subsea orders hit $1.9B, and the opportunity pipeline expanded to $30B. Guidance remains robust for 2026 and 2027, with continued focus on efficiency, capital returns, and growth.
Q4 2025 Q4 2025 2026-02-19
Strong 2025 results featured 9% revenue growth, 33% higher Adjusted EBITDA, and record Subsea backlog. 2026 guidance calls for further margin expansion, robust free cash flow, and continued high direct award rates, driven by portfolio approaches and operational efficiencies.
Q3 2025 Q3 2025 2025-10-23
Q3 2025 saw $2.6B revenue and $531M adjusted EBITDA, with strong subsea orders and robust free cash flow. Guidance for 2026 subsea revenue is $9.1–$9.5B and margin expansion, with at least 70% of free cash flow to be returned to shareholders.
Q2 2025 Q2 2025 2025-07-24
Q2 2025 saw $2.5B in revenue, $509M adjusted EBITDA, and strong free cash flow, with robust Subsea orders and a growing backlog. Full-year EBITDA guidance was raised to $1.8B, and over 80% of business is direct awarded, supporting margin expansion and shareholder returns.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
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