Revenue growth reached 11.2% in 2026Q1, yet gross margins contracted to 14.1% from a 2025Q2 peak of 23.1%, suggesting persistent pressure on operational profitability.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Sales/Revenue | 10.18B | 9.93B | 9.08B | 7.83B | 6.7B | 6.4B | 6.53B | 6.95B | 12.55B | 15.06B | 9.2B | 11.47B | 12.19B | 12.18B | 10.82B | 8.83B | 8.09B | 9.25B | 10.41B | 11.5B | 9.14B | 6.36B | 6.96B | 5.92B | 4.68B | 3.16B | 2.79B | 2.8B | 14.2B | 11.15B |
| Revenue Growth % | 9.46% | 9.37% | 16.02% | 16.82% | 4.64% | -1.95% | -6.04% | -44.63% | -16.63% | 63.67% | -19.81% | -5.92% | 0.08% | 12.64% | 22.5% | 9.17% | -12.55% | -11.19% | -9.42% | 25.78% | 43.68% | -8.63% | 17.58% | 26.66% | 48.16% | 13.08% | -0.3% | -80.29% | 27.35% | - |
| Cost of Goods Sold | 8.13B | 8.21B | 7.37B | 6.48B | 5.8B | 5.58B | 5.84B | 5.89B | 10.27B | 12.52B | 7.63B | 9.98B | 10.39B | 10B | 8.77B | 7.16B | 6.51B | 7.61B | 8.83B | 10.56B | 8.19B | 5.7B | 6.2B | 5.02B | 3.94B | 2.75B | 2.52B | 2.52B | 0 | 0 |
| COGS % of Revenue | - | 82.65% | 81.18% | 82.83% | 86.62% | 87.13% | 89.36% | 84.78% | 81.84% | 83.18% | 82.94% | 86.95% | 85.21% | 82.05% | 81.09% | 81.12% | 80.52% | 82.31% | 84.77% | 91.87% | 89.54% | 89.62% | 89.05% | 84.71% | 84.33% | 87.26% | 90.2% | 90.14% | - | - |
| Gross Profit | 2.05B | 1.72B | 1.71B | 1.34B | 896.3M | 823.9M | 694.8M | 1.06B | 2.28B | 2.53B | 1.57B | 1.5B | 1.8B | 2.19B | 2.05B | 1.67B | 1.58B | 1.64B | 1.59B | 935.16M | 956.06M | 660.51M | 762.77M | 905.81M | 732.58M | 402M | 273.49M | 276.11M | 0 | 0 |
| Gross Margin % | 20.14% | 17.35% | 18.82% | 17.17% | 13.38% | 12.87% | 10.64% | 15.22% | 18.16% | 16.82% | 17.06% | 13.05% | 14.79% | 17.95% | 18.91% | 18.88% | 19.48% | 17.69% | 15.23% | 8.13% | 10.46% | 10.38% | 10.95% | 15.29% | 15.67% | 12.74% | 9.8% | 9.86% | - | - |
| Gross Profit Growth % | - | 0.82% | 27.17% | 49.94% | 8.79% | 18.58% | -34.34% | -53.59% | -9.97% | 61.33% | 4.86% | -17.03% | -17.53% | 6.93% | 22.68% | 5.82% | -3.68% | 3.12% | 69.66% | -2.19% | 44.75% | -13.41% | -15.79% | 23.65% | 82.23% | 46.99% | -0.95% | - | - | - |
| Operating Expenses | 585.1M | 766M | 740.5M | 776.5M | 696.7M | 745.3M | 799.4M | 945.2M | 1.33B | 1.27B | 678M | 785.1M | 924.53M | 1.01B | 1B | 768.32M | 758.35M | 1.02B | 672.11M | 546.02M | 480.8M | 387.12M | 446.34M | 619.67M | 641.42M | 148.9M | 127.07M | 123.67M | 13.11B | 10.4B |
| OpEx % of Revenue | - | 7.71% | 8.15% | 9.92% | 10.4% | 11.64% | 12.24% | 13.6% | 10.59% | 8.46% | 7.37% | 6.84% | 7.58% | 8.32% | 9.29% | 8.7% | 9.38% | 11.04% | 6.45% | 4.75% | 5.26% | 6.08% | 6.41% | 10.46% | 13.72% | 4.72% | 4.55% | 4.42% | 92.26% | 93.21% |
| Selling, General & Admin | 521.1M | 667M | 667.1M | 684.5M | 629.7M | 666.9M | 724.1M | 795.7M | 1.14B | 1.06B | 572.6M | 689.6M | 790.17M | 992.63M | 898.15M | 668.39M | 638.38M | 604.48M | 569.51M | 512.78M | 467.74M | 364.75M | 390.67M | 429.58M | 328.22M | 132.6M | 79.93M | 81.3M | 0 | 0 |
| SG&A % of Revenue | - | 6.72% | 7.35% | 8.75% | 9.4% | 10.41% | 11.09% | 11.45% | 9.09% | 7.05% | 6.22% | 6.01% | 6.48% | 8.15% | 8.3% | 7.57% | 7.89% | 6.54% | 5.47% | 4.46% | 5.12% | 5.73% | 5.61% | 7.25% | 7.02% | 4.2% | 2.86% | 2.9% | - | - |
| Research & Development | 64M | 73M | 73.4M | 92M | 67M | 78.4M | 75.3M | 149.5M | 189.2M | 212.9M | 105.4M | 95.5M | 99.98M | 103.97M | 90.58M | 84.63M | 75.28M | 76.65M | 62.51M | 61.24M | 46.06M | 34.8M | 40.91M | 41.87M | 39.28M | 16.3M | 6.76M | 10.36M | 0 | 0 |
| R&D % of Revenue | - | 0.73% | 0.81% | 1.18% | 1% | 1.22% | 1.15% | 2.15% | 1.51% | 1.41% | 1.15% | 0.83% | 0.82% | 0.85% | 0.84% | 0.96% | 0.93% | 0.83% | 0.6% | 0.53% | 0.5% | 0.55% | 0.59% | 0.71% | 0.84% | 0.52% | 0.24% | 0.37% | - | - |
| Other Operating Expenses | 0 | 26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34.38M | -82.63M | 0 | 15.29M | 44.69M | 339.99M | 40.09M | -27.99M | -32.99M | -12.43M | 14.76M | 148.22M | 273.92M | 0 | 40.39M | 32M | 13.11B | 10.4B |
| Operating Income | 1.47B | 957M | 968.5M | 567.4M | 199.6M | 78.6M | -104.6M | 112.9M | 950.1M | 1.26B | 891.6M | 711.7M | 879.5M | 1.17B | 1.08B | 899.23M | 817.53M | 614.93M | 914.47M | 389.14M | 475.26M | 273.39M | 316.44M | 286.14M | 91.17M | 253.1M | 146.42M | 152.45M | 1.1B | 757.46M |
| Operating Margin % | 14.39% | 9.63% | 10.66% | 7.25% | 2.98% | 1.23% | -1.6% | 1.62% | 7.57% | 8.36% | 9.69% | 6.2% | 7.21% | 9.63% | 9.95% | 10.18% | 10.11% | 6.65% | 8.78% | 3.38% | 5.2% | 4.3% | 4.54% | 4.83% | 1.95% | 8.02% | 5.25% | 5.45% | 7.74% | 6.79% |
| Operating Income Growth % | - | -1.19% | 70.69% | 184.27% | 153.94% | 175.14% | -192.65% | -88.12% | -24.51% | 41.15% | 25.28% | -19.08% | -25.06% | 9.08% | 19.64% | 9.99% | 32.95% | -32.76% | 135% | -18.12% | 73.84% | -13.6% | 10.59% | 213.87% | -63.98% | 72.86% | -3.95% | -86.13% | 45.13% | - |
| EBITDA | 1.88B | 1.4B | 1.34B | 942M | 576.8M | 464M | 307.5M | 580.6M | 1.5B | 1.87B | 1.19B | 1.05B | 1.18B | 1.45B | 1.32B | 1.12B | 1.01B | 936.01M | 1.18B | 626.65M | 686.16M | 458.73M | 524.37M | 597.55M | 382.83M | 351.8M | 186.81M | 184.45M | 1.21B | 865.92M |
| EBITDA Margin % | 18.46% | 14.08% | 14.79% | 12.04% | 8.61% | 7.25% | 4.71% | 8.35% | 11.95% | 12.44% | 12.96% | 9.16% | 9.64% | 11.93% | 12.21% | 12.74% | 12.5% | 10.12% | 11.3% | 5.45% | 7.51% | 7.21% | 7.53% | 10.09% | 8.19% | 11.15% | 6.69% | 6.59% | 8.49% | 7.76% |
| EBITDA Growth % | 26.81% | 4.12% | 42.61% | 63.31% | 24.31% | 50.89% | -47.04% | -61.31% | -19.9% | 57.11% | 13.51% | -10.63% | -19.16% | 10.08% | 17.44% | 11.23% | 8.03% | -20.48% | 87.83% | -8.67% | 49.58% | -12.52% | -12.25% | 56.09% | 8.82% | 88.32% | 1.28% | -84.71% | 39.34% | - |
| D&A (Non-Cash Add-back) | 413.9M | 441.8M | 374.9M | 374.6M | 377.2M | 385.4M | 412.1M | 467.7M | 550.4M | 614.7M | 300.7M | 338.7M | 295.83M | 280.38M | 244.97M | 225.52M | 193.64M | 321.08M | 262.55M | 237.51M | 210.9M | 185.34M | 207.93M | 311.41M | 291.67M | 98.7M | 40.39M | 32M | 107.31M | 108.46M |
| EBIT | 1.47B | 1.04B | 1.04B | 589.4M | 199.6M | 78.6M | -104.6M | 112.9M | 950.1M | 1.26B | 891.6M | 711.7M | 922.35M | 1.1B | 1.08B | 971.81M | 1.36B | 1.31B | 1.55B | 422.53M | 477.64M | 274.45M | 332.69M | 286.14M | 91.17M | 253.1M | 146.42M | 152.45M | 1.1B | 757.46M |
| Net Interest Income | -35.6M | -41M | -63.5M | -88.7M | -120.9M | -143.3M | -81.8M | -91.3M | -360.9M | -315.2M | -28.8M | -71.2M | -103.12M | -75.4M | -73.93M | -30.59M | -26.73M | -86.97M | -15.31M | -94.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 29.2M | 56M | 33.9M | 33.5M | 17.8M | 14M | 52.3M | 43.6M | 121.4M | 140.8M | 85.3M | 45.7M | 47.91M | 76.22M | 76.18M | 453.37M | 544.49M | 684.85M | 78.93M | 29.31M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 64.8M | 97M | 97.4M | 122.2M | 138.7M | 157.3M | 134.1M | 134.9M | 482.3M | 456M | 114.1M | 75.44M | 82.81M | 79.26M | 64.27M | 430.82M | 571.22M | 771.82M | 94.25M | 123.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -70M | -17M | -28.1M | -404.9M | -130.7M | 119.5M | -3.39B | -2.68B | -2.44B | -578.8M | -340.2M | -561.2M | -154.09M | -112.37M | -83.2M | 22.55M | -26.73M | -80.23M | -12.25M | -90.1M | -84.6M | -103.56M | -88.32M | -207.82M | -73.42M | -98.6M | 114.39M | 110.99M | 149.3M | 128.81M |
| Pretax Income | 1.4B | 940M | 940.4M | 162.5M | 68.9M | 198.1M | -3.5B | -2.57B | -1.49B | 679.7M | 551.4M | 150.5M | 725.41M | 1.06B | 992.68M | 921.78M | 790.8M | 534.7M | 902.22M | 299.04M | 390.66M | 169.83M | 228.12M | 78.32M | 17.75M | 154.5M | 260.81M | 263.44M | 1.25B | 886.27M |
| Pretax Margin % | 13.7% | 9.46% | 10.36% | 2.08% | 1.03% | 3.09% | -53.57% | -36.99% | -11.85% | 4.51% | 5.99% | 1.31% | 5.95% | 8.71% | 9.18% | 10.44% | 9.78% | 5.78% | 8.66% | 2.6% | 4.27% | 2.67% | 3.28% | 1.32% | 0.38% | 4.9% | 9.34% | 9.41% | 8.79% | 7.95% |
| Income Tax | 311.8M | -23.9M | 85.1M | 143.9M | 105.4M | 111.1M | 19.4M | 79M | 422.7M | 545.5M | 180.3M | 136.5M | 190.79M | 277M | 272.7M | 270.49M | 238.6M | 278.96M | 269.79M | 112.41M | 124.19M | 51.48M | 73.42M | 103.09M | 48.63M | 58.3M | 58.51M | 89.56M | 436.63M | 298.43M |
| Effective Tax Rate % | 22.34% | -2.54% | 9.05% | 88.55% | 152.98% | 56.08% | -0.55% | -3.07% | -28.41% | 80.26% | 32.7% | 90.7% | 26.3% | 26.1% | 27.47% | 29.34% | 30.17% | 52.17% | 29.9% | 37.59% | 31.79% | 30.31% | 32.19% | 131.62% | 273.97% | 37.73% | 22.43% | 34% | 34.97% | 33.67% |
| Net Income | 1.08B | 963.9M | 842.9M | 22.9M | -107.2M | 13.3M | -3.29B | -2.42B | -1.92B | 113.3M | 393.3M | 14.4M | 528.48M | 775.46M | 716.33M | 657.51M | 555.39M | 244.14M | 623.66M | 184.15M | 264.09M | 110.42M | 151.44M | -24.77M | -30.88M | 96.2M | 201.18M | 173.68M | 810.76M | 587.62M |
| Net Margin % | 10.63% | 9.7% | 9.28% | 0.29% | -1.6% | 0.21% | -50.34% | -34.75% | -15.31% | 0.75% | 4.28% | 0.13% | 4.33% | 6.36% | 6.62% | 7.45% | 6.87% | 2.64% | 5.99% | 1.6% | 2.89% | 1.74% | 2.17% | -0.42% | -0.66% | 3.05% | 7.21% | 6.2% | 5.71% | 5.27% |
| Net Income Growth % | 26.67% | 14.36% | 3580.79% | 121.36% | -906.01% | 100.4% | -36.12% | -25.69% | -1796.03% | -71.19% | 2631.25% | -97.28% | -31.85% | 8.25% | 8.95% | 18.39% | 127.49% | -60.85% | 238.68% | -30.27% | 139.17% | -27.09% | 711.47% | 19.79% | -132.1% | -52.18% | 15.83% | -78.58% | 37.97% | - |
| Net Income (Continuing) | 1.08B | 963.9M | 855.3M | 18.6M | -36.5M | 87M | -3.52B | -2.65B | -1.91B | 134.2M | 371.1M | 14M | 535.5M | 784.96M | 0 | 651.29M | 552.2M | 255.75M | 632.43M | 186.62M | 264.09M | 116.34M | 151.44M | -24.77M | -30.88M | 96.2M | 202.3M | 173.88M | 811.93M | 587.84M |
| Discontinued Operations | 0 | 0 | 0 | 0 | -45.3M | -74.5M | 265M | 230.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.92M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 7.9M | 41.5M | 44.6M | 35.4M | 36.5M | 15.7M | 103.8M | 69.9M | 69.8M | 21.5M | -11.7M | 9.29M | 14.35M | 23.89M | 17.46M | 28.13M | 29.66M | 43.56M | 31.04M | 26.83M | 20.46M | 16.45M | 13.28M | 11.57M | 17.12M | 19M | 3.19M | 2.31M | 21.11M | 24.64M |
| EPS (Diluted) | 2.64 | 2.30 | 1.91 | 0.05 | -0.14 | 0.19 | -7.92 | -5.91 | -4.20 | 0.24 | 3.16 | 0.13 | 4.42 | 6.44 | 5.97 | 5.72 | 5.07 | 2.29 | 5.84 | 1.75 | 2.48 | 1.13 | 0.05 | -0.21 | -0.25 | 0.73 | 6.03 | 5.41 | 25.70 | 17.77 |
| EPS Growth % | 34.36% | 20.42% | 3720% | 135.71% | -173.68% | 102.4% | -34.01% | -40.71% | -1850% | -92.41% | 2330.77% | -97.06% | -31.37% | 7.87% | 4.37% | 12.82% | 121.4% | -60.79% | 233.71% | -29.44% | 119.47% | 1996.47% | 125.67% | 16% | -134.25% | -87.89% | 11.46% | -78.95% | 44.63% | - |
| EPS (Basic) | - | 2.30 | 1.96 | 0.05 | -0.14 | 0.19 | -7.92 | -5.91 | -4.20 | 0.24 | 3.29 | 0.13 | 4.71 | 6.97 | 6.52 | 6.08 | 5.21 | 1.15 | 2.97 | 1.78 | 2.51 | 1.16 | 0.80 | -0.13 | -0.30 | 3.05 | 6.28 | 5.51 | 25.70 | 17.77 |
| Diluted Shares Outstanding | 409.9M | 419M | 440.5M | 452.3M | 449.5M | 454.6M | 448.7M | 448M | 458M | 468.3M | 125.1M | 127.3M | 125.27M | 124.78M | 124.42M | 117.5M | 109.84M | 106.82M | 106.82M | 105M | 106.28M | 97.22M | 118.16M | 118.16M | 121.3M | 131.39M | 33.34M | 32.11M | 31.55M | 33.07M |
| Basic Shares Outstanding | 400.1M | 419M | 429.1M | 438.6M | 449.5M | 450.5M | 448.7M | 448M | 457.52M | 466.7M | 119.4M | 114.9M | 112.17M | 111.29M | 109.88M | 108.08M | 106.47M | 106.26M | 104.82M | 103.94M | 105.47M | 95.69M | 189.24M | 187.46M | 103.29M | 33.54M | 32.06M | 31.52M | 31.55M | 33.07M |
| Dividend Payout Ratio | - | 8.54% | 10.19% | 189.96% | - | - | - | - | - | 53.49% | 28.35% | 685.42% | 47.52% | 33.12% | 31.87% | 30.77% | 34.39% | 74.82% | 27.92% | 217.5% | 70.81% | 34.3% | 116.1% | - | - | 47.09% | - | - | - | - |
Geographic concentration in Brazil
According to the provided income statement data, TechnipFMC's revenue growth has fluctuated significantly, recording an 11.2% year-over-year increase in 2026Q1, which highlights the inherent volatility of project-based offshore energy contracts compared to the more stable growth profiles observed in broader oilfield service sector peers.
The revenue trajectory appears to be recovering from earlier periods, yet the inconsistency in quarterly growth rates suggests that project timing and percentage-of-completion accounting milestones heavily influence top-line performance. Investors should monitor whether this growth is sustainable or merely a reflection of lumpy project recognition within the Subsea segment.
As reported in financial statements, the company's gross margin experienced a notable contraction to 14.1% in 2026Q1 from a peak of 23.1% in 2025Q2, suggesting that the firm faces ongoing challenges in maintaining pricing power while managing the high fixed-cost base of its specialized vessel fleet.
The compression in gross margins may indicate that legacy contracts or unexpected cost overruns are offsetting the benefits of the iEPCI model. This volatility warrants further investigation into whether the company can successfully transition to standardized Subsea 2.0 products to stabilize profitability against inflationary pressures.
Based on the income statement figures, operating income reached $351.0 million in 2026Q1, yet the lack of consistent scaling relative to gross profit suggests that the company has yet to fully optimize its overhead structure despite the recent uptick in offshore capital expenditure activity.
The alignment of operating margins with gross margins in the most recent quarter implies that SG&A and other operating costs are consuming a significant portion of the value generated by projects. This may indicate that the company is still in a phase of heavy investment or that operational inefficiencies are hindering the conversion of revenue into bottom-line growth.
Data from recent filings indicates that TechnipFMC recorded $57.8 million in stock-based compensation during 2026Q1, a significant departure from the zero-cost reporting seen in previous quarters, which complicates the assessment of core operational profitability and dilutes the quality of reported net income for shareholders.
The sudden appearance of stock-based compensation suggests a shift in management's incentive structure that could mask underlying earnings performance. Analysts should scrutinize whether this expense is a recurring item or a one-time adjustment, as it directly impacts the reliability of EPS as a metric for operational success.
Quick answers to the most common questions about buying FTI stock.
For fiscal year 2025, TechnipFMC plc (FTI) reported total revenue of $9.93B. This represents a 11.0% decline compared to $11.15B in 1997.
TechnipFMC plc (FTI) is profitable, generating $963.9M in net income for the fiscal year ending 2025 with a net profit margin of 9.7%.
TechnipFMC plc (FTI) reported an operating income of $957.0M, resulting in an operating profit margin of 9.6%. This margin reflects the operational efficiency of the business before interest and taxes.
TechnipFMC plc (FTI) generated $1.72B in gross profit for the year, representing a gross profit margin of 17.3%. This demonstrates the company's core pricing power and production efficiency.