TechnipFMC plc
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+ FollowMarket Cap$26.97B
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Earnings Call Q3 2026
October 29, 2026 - AI Summary
Strong Q3 performance + cash returns
- Total company revenue $2.9B; Adjusted EBITDA $636M ( 22% margin excluding FX ); Free cash flow $470M.
- Repurchased $320M of stock in Q3; total shareholder distributions $340M (includes $20M dividends).
- Balance sheet: $1.0B cash, net cash position $645M.
- Good: Execution remains “strong and consistent,” with Subsea margin reaching a record quarterly level.
Subsea is the engine: margin expansion and project mix
- Subsea revenue $2.6B (+5% vs Q2), driven by higher iEPCI activity (notably Indonesia and Brazil) and increased services; partially offset by lower Norway activity.
- Subsea Adjusted EBITDA $612M (+6% sequential) and margin 23.5% (highest quarterly margin achieved to date).
- Good: Mix and execution are supporting margin expansion (not just revenue growth).
- Potential headwind: North Sea/Norway seasonality shows up in Q4 guidance (see below).
Inbound orders acceleration + visibility (key forecast)
- Inbound orders in the quarter $2.3B, with $2.1B Subsea.
- Management highlighted a “step up” in Subsea orders and reiterated high visibility with an expanded Subsea opportunities list.
- Forecast: Expect Subsea orders over the next 5 quarters to be at least $14.5B (and management expects better quality of inbound as more Subsea 2.0 iEPCI and direct awards are included).
- CEO view: this is structural, not primarily cyclical; customer behavior shifting due to energy security and source-of-supply diversification.
- Surprising but important: They believe the momentum into 2027 begins a sustained wave beyond the decade.
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$47.99
30.2% downside
Current Fair Value
30.2% downsideOvervalued by 30.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $26.97 Billion |
|---|---|
| Enterprise Value | $28.74 Billion |
| Annual dividend | $0.20 |
| Dividend yield | 0.29% |
| Earnings per Share | $2.3 |
| Beta | 0.74 |
| Outstanding Shares | 391,600,000 |
Return
| Return on Equity | 39.25% |
|---|---|
| Return on Assets | 12.39% |
| Return on Invested Capital | 27.97% |
Valuation & Multiples
| P/E Ratio | 21.23 |
|---|---|
| PEG | 60.47 |
| Price to Sales | 2.55 |
| Price to Book Ratio | 8.6 |
| Enterprise Value to Revenue | 2.69 |
| Enterprise Value to EBIT | 20.94 |
| Enterprise Value to Net Income | 22 |
| Total Debt to Enterprise | 0.1 |
| Debt to Equity | 0.84 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$0.88
Consensus analyst estimateRevenue Estimate
$2.79 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 18, 2027
EPS Estimate
$0.77
Consensus analyst estimateRevenue Estimate
$2.72 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 65.53% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.99%▼ 94.23% |
|---|---|
| Total Invested | $808.66M▼ 96.87% |
| Investors Holding | 257▼ 594.00% |
About TechnipFMC plc
CEO: Douglas Pferdehirt
