FLOTEK INDUSTRIES INC/CN/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FLOTEK INDUSTRIES INC/CN/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	263	317	178	119	53.1	43.3	136	188	187	237
Cost of revenue	170	215	160	148	81.8	40	143	164	148	177
Gross profit	90.7	102	18	-28.7	-28.7	3.26	-6.7	24.3	39.4	59.8
Research and development	9.32	13.1	10.4	8.86	7.21	5.54	4.44	2.49	1.71	1.82
Selling, general and administrative	43.7	41.5	31.5	28	22.8	20.2	27.1	27.8	24.7	28
Operating expenses	98
Operating income	-17	-10.3	-69.8	-75.5	-144	-31.5	-35.4	23.2	12.2	23.2
Interest expense	1.98	2.17	2.87	2.02	0.06	0.08	7.05	2.86	1.1	3.94
Other non-operating income	10.3	-1.07	-10.8	-0.31	1.02	0.89	-6.91	1.64	-1.05	-3.59
Pre-tax income	-6.65	-11.4	-80.7	-75.8	-143	-30.6	-42.3	24.9	11.1	19.7
Income tax	-2.2	6.11	-7.22	0.26	-6.18	-0.04	-0.02	0.15	0.65	-10.9
Income from continuing operations	-4.45	-17.5	-73.1	-76.1	-136
Net income to minority interests	0	0	-0.36	0
Net income	-49.1	-27.4	-70.3	-33.9	-136	-30.5	-42.3	24.7	10.5	30.5
EBITDA	-8.8	-0.55	-60.6	-67	-140	-30.4	-34.7	24	13.1	25.1
EPS, basic	-5.26	-2.81	-7.24	-3.29	-11.96	-2.51	-3.41	1.00	0.36	0.90
EPS, diluted	-5.26	-2.81	-7.24	-3.29	-11.96	-2.51	-3.41	-0.10	0.34	0.84
Shares, basic (weighted)	9.38	9.62	9.69	9.82	11.4	12.3	12.4	24.8	29.5	33.9
Shares, diluted (weighted)	9.38	9.62	9.69	9.82	11.4	12.3	12.4	28.4	30.9	36.2

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	4.82	4.58	3.04	101	38.7	11.5	12.3	5.85	4.4	5.73
Receivables	47.2	34.9	37	15.6	11.8	12	19.1
Inventory	58.3	32.5	27.3	23.2	11.8	9.45	15.7	12.8	13.3	10.6
Other current assets	21.7	8.65	5.77	13.2	3.13	3.76	3.03	3.56	2.95	3.45
Total current assets	189	138	195	154	66.5	42.6	80.1	76.4	96.5	111
Property, plant and equipment	74.7	52.8	45.5	39.8	9.09	5.3	4.83	5.13	6.18	20.3
Lease right-of-use assets			0	16.4	2.32	2.04	5.9	5.03	3.33	2.72
Goodwill	56.7	37.2	0	0	8.09	0
Intangible assets	50.4	22	26.8	20.3
Other non-current assets		0.53	0.13	0	0.03	0.03	1.03	1.79	1.68	1.58
Total assets	383	330	286	231	86.2	50.2	165	158	171	220
Accounts payable	30	10.4	15	16.2	5.79	7.62	33.4	31.7	38.1	48.3
Accrued liabilities	12.2	13.8	10.3	24.6	18.3	9	8.98	5.89	5.91	7.26
Deferred revenue				0	0.15	0.53	0.66	0.55	0.81	0.72
Short-term debt	40.6	28	49.7	0	4.05	1.44
Total current liabilities	87.7	64.6	84.3	41.3	28.9	18.8	151	47.8	50.4	61.6
Long-term debt	7.83	0		0	1.62	3.35	2.74	0.06	0
Lease liabilities				17	8.35	7.78	8.04	7.68	6.51	5.61
Total liabilities	95.5	64.6	84.3	58.6	39	30.1	162	55.6	56.9	107
Total debt	48.4	28	49.7	0	5.67	4.79	2.74	0.24	0	40
Paid-in capital	318	336	344	348	360	363	388	463	465	435
Retained earnings	-9.83	-37.2	-108	-142	-279	-309	-352	-327	-316	-286
Treasury stock	-20.3	-33.1	-33.2	-33.5	-33.9	-34.1	-34.3	-34.5	-34.7	-36.2
Other comprehensive income	-0.96	-0.88	0.03	0.18	-0.02	0.08	0.18	0.13	0.25	0.1
Shareholders' equity	287	265	202	172	47.2	20.2	2.6	102	114	113
Minority interests	0.36	0.36	0
Total equity	288	265	202	172	47.2	20.2	2.6	102	114	113
Total liabilities and equity	383	330	286	231	86.2	50.2	165	158	171	220
Shares outstanding	9.52	9.49	9.59	9.95	12.2	12.3	13	29.7	29.8	30.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-49.1	-27.4	-70.7	-32.3	-136	-30.5	-42.3	24.7	10.5	30.5
Depreciation and amortization	8.17	9.77	9.22	8.47	3.41	1.01	0.73	0.73	0.89	1.84
Stock-based compensation	11.4	10.6	7.05	4.24	3.04	3.76	3.33	-0.25	1.37	2.3
Deferred income tax	1.77	6.16	-6.57	25.7	-0.19	-0.06	-0.13	0.1	0.25	-11.2
Change in receivables	-10.9	4.08	-2.61	21	3.56	-0.11	-7.34	5.31	-3.88	-2.26
Change in inventory	-1.46	-3.44	2.6	-0.73	3.96	1.76	-7.92	1.94	-1.11	3.07
Change in payables	6.37	-8.53	4.63	1.13	-12.3	1.83	25.8	-1.67	6.37	10.2
Cash from operations	2.05	12.3	-20.8	-4.55	-47.8	-25.8	-44.6	-11.3	3.36	7.2
Capital expenditures	-13.1	-4.2	-3.56	-2.41	-1.43	-0.04	-0.42
Acquisitions	-7.86	0	0	0	-26.3	0
Cash from investing	-22.3	14.5	-2.11	153	-17.7	0.11	5.33	-1.01	-1.82	-1.98
Debt repaid							0	-0.15	-0.18	-0.06
Stock issued	30.9	0.65	0.34	0.04	0.46	0.08	0.13	0.08	0.11	0.16
Share buybacks	0	-5.2	0	0
Cash from financing	22.9	-27.3	21.5	-50	3.73	-0.37	38.3	5.93	-3.12	-3.74
Exchange rate effect	-0	0.15	-0.09	0.01	-0.1	0.1	0.1	-0.05	0.12	-0.16
Net change in cash	2.62	-0.24	-1.54	98.2	-61.9	-26	-0.93	-6.44	-1.45	1.33
Free cash flow	-11	8.15	-24.4	-6.96	-49.3	-25.9	-45.1
Interest paid	2.02	1.85	2.5	0.6	0.03	0.03	0.05	0.43	0.85	3.62
Income taxes paid	0.33	-10.2	-0.14	-0.7	-6.25			0	0.4	0.14

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $29.53 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	24.7%	Gross profit / revenue.
Operating margin	12.8%	Operating income / revenue.
EBITDA margin	13.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.0%	Pre-tax income / revenue.
Net margin	13.0%	Net income / revenue.
Operating cash flow margin	-0.8%	Cash from operations / revenue.
Effective tax rate	-17.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	29.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	14.2%	Net income / average total assets.
Return on invested capital (ROIC)	18.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	0.7%	Research and development expense / revenue.
SG&A / revenue	10.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	0.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	26.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	20.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	34.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	51.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y	90.6%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	91.6%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	190.8%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	147.1%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	114.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-0.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	251.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	19.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	28.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	10.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	20.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	17.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	42.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	25.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.78x	Current assets / current liabilities.
Quick ratio	0.05x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.05x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.31x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	14.9%	Total debt / total assets.
Liabilities / assets	51.8%	Total liabilities / total assets.
Net debt	$35.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.89x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	6.92x	Operating income / interest expense.
Working capital	$73.4M	Current assets - current liabilities.
Tangible book value	$129.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.09x	Revenue / average total assets.
Fixed asset turnover	12.6x	Revenue / average property, plant and equipment.
Inventory turnover	8.29x	Cost of revenue / average inventory.
Days inventory	44 days	365 x average inventory / cost of revenue.
Days payables	123 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.99	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.62	Revenue / diluted weighted shares.
Operating cash flow per share	-$0.06	Cash from operations / diluted weighted shares.
Book value per share	$3.57	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.57	Tangible book value / shares outstanding.
Cash per share	$0.12	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.07B	Share price x shares outstanding.
Enterprise value	$1.11B	Market cap + total debt - cash - short-term investments.
P/E	28.1x	Market cap / net income. Only when net income is positive.
P/S	3.65x	Market cap / revenue.
P/B	8.28x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.28x	Market cap / tangible book value, when positive.
EV/Sales	3.77x	Enterprise value / revenue.
EV/EBIT	29.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	27.6x	Enterprise value / EBITDA, when both are positive.
Earnings yield	3.6%	Net income / market cap (the inverse of P/E).

What was FLOTEK INDUSTRIES INC/CN/'s revenue in fiscal 2025?

FLOTEK INDUSTRIES INC/CN/ reported revenue of $237.3M for fiscal 2025, 26.9% higher than the year before.

Was FLOTEK INDUSTRIES INC/CN/ profitable in fiscal 2025?

Yes. Net income was $30.5M, a net margin of 12.9%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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