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Sales Analysis FET
In the year ending in Sep 30,23, Forum Energy Technologies Inc sales were sharply down 3.2% from $185.2 million last year to $179.3 million. We predict Forum Energy Technologies Inc sales to go down 3.5% to around $172.97 million during the next 12 months. The share price of Forum Energy Technologies Inc has a positive sensitivity to increases to sales with forecast sales alone decreasing the share price by 0.14%.
Forum Energy Technologies Inc currently has 1,600 employees and with sales of $179.3 million this equates to sales of $112.06 thousand per employee.
Profitability
For Sep 30,23 Cost of goods sold was sharply down 5.3% to $128.3 million from $135.5 million last year. This cost represented 71.56% of overall sales down from 73.16% last year and is expected to fall to 70.2% next year. We predict Cost of goods sold to move down 5.4% to around $121.43 million during the next 12 months.
Selling General and Administrative expenses, since last year, have risen by 1.05%, from $45.02 million to $45.5 million this year and we expect SGA to move down 9.4% to around $41.24 million during the next 12 months.
This meant gross income was $51.0 million making a gross profit margin of 28.44% of sales, which we expect to be 28.88% next year. The share price of Forum Energy Technologies Inc has a positive sensitivity to increases to gross profit margin.
With 1,600 employees, the gross income is $31.88 thousand per employee.
Earnings
EBIT was 3.07% of sales and for this fiscal year was up 17.02% from the previous year, totaling $5.5 million and we expect EBIT to be $1666.67 thousand next year.
Pre-tax income was 5.24% of sales and turned positive and has risen -178.99% from last year to $9.4 million and we expect it to be $53.13 million next year. Forum Energy Technologies Inc paid $1400.0 thousand tax. Its effective tax rate was 14.89% from -41.18% last year and estimated as 1.05% next year.
Including discontinued income, after tax income was 4.44% of sales and turned positive and for this fiscal year was up -147.43% from the previous year, totaling $7.97 million and we expect it to be $44.51 million next year. Return on Equity turned positive and rose to inf, from -inf, last year and we expect it to be 44.51 million next year.