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what it is
Flotek sells specialty chemicals and data tools that help energy companies cut waste.
how it gets paid
Last year Ftk made $187M in revenue. Chemistry Technologies was the main engine at $138M, or 74% of sales.
what just happened
Revenue hit $170M, EPS was $0.78, and gross margin was 26.3%.
At a glance
B balance sheet — gets the job done, barely
25/100 earnings predictability — expect surprises
20.3x trailing p/e — priced about right
9.2% return on capital — nothing to write home about
$0.34 fy2024 eps est
xvary composite: 54/100 — below average
What they do
Flotek sells specialty chemicals and data tools that help energy companies cut waste.
You are buying a shop that ties chemistry to data. That matters because the customer gets a cleaner process and faster answers in the same contract. With $187M in annual revenue, each account win still moves the needle.
How they make money
$187M
annual revenue
Chemistry Technologies
$138M
Data Analytics
$27M
Specialty chemicals
$12M
Other products and services
$10M
The products that matter
specialty fluids for drilling
Energy Chemistry & Logistics
$~166M · about 70% of revenue
it is still the economic center of the company at roughly $166M of a $237.3M revenue base. if field activity weakens, this is where you feel it first.
core engine
real-time well performance software
Data Analytics
$~27M target · higher margins
this is the segment management wants you to care about. at roughly $27M in 2026 revenue, it is still small, but this is where the margin-expansion case lives.
mix-shift bet
electrical power for frac sites
PowerTech Services
$15.8M added revenue
the 2025 acquisition added $15.8M in revenue and underpins 70% of expected 2026 growth. that is a catalyst and a concentration risk in the same sentence.
integration risk
Key numbers
$187M
annual revenue
That is the whole pie. Small changes in a $187M base move the story fast.
9.9%
operating margin
You keep about 10 cents on each sales dollar before interest and taxes.
1.4
beta
A 10% market move tends to feel like 14% here.
2
risk rank
This sits above average on risk. Calm is not the selling point.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $46M (8% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for FTK right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $170M, EPS was $0.78, and gross margin was 26.3%.
Revenue was up 203% vs. prior year. EPS rose 47% vs. prior year. Gross margin was 26.3%.
$170M
revenue
$0.78
eps
26.3%
gross margin
revenue
The $170M revenue print mattered most. It was up 203% vs. prior year, so the base is still small.
source: EDGAR quarterly report
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What could go wrong
FTK's main risk is simple and specific: PowerTech has to integrate cleanly while the higher-margin story keeps showing up in the numbers. When one acquisition is supposed to drive 70% of next year's growth, execution is not a side note.
high
PowerTech integration misses the script
about 70% of expected 2026 growth is tied to PowerTech. if contracts do not convert into revenue on schedule, the growth case gets thinner very quickly.
puts most of the near-term growth case under pressure
med
oilfield activity cools with commodity prices
the chemistry business is still the largest segment at roughly $166M. a 10% drop in oil prices could put $19M–$28M of service revenue at risk.
direct exposure to a meaningful slice of revenue
med
the higher-margin business stays too small
Data Analytics is targeted at roughly $27M in 2026 revenue, or about 11% of the mix. if that segment underdelivers, overall margin expansion has less room to carry the stock.
keeps FTK looking like a chemistry contractor, not a re-rated analytics platform
low
small-cap volatility swamps the fundamentals
a price stability score of 5 / 100 and a 52-week range of $6–$20 tell you the stock can move hard even when the business is only moving a little.
you can be directionally right on the company and still get a chaotic ride
the cleanest risk markers are visible already: a 10% drop in oil prices could put $19M–$28M of service revenue at risk, while any PowerTech stumble would pressure most of the expected 2026 growth story.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
gross margin staying above 25%
2025 gross margin reached 25%, up from 21%. if that starts slipping back, the higher-margin transition stops looking like a transition and starts looking like a blip.
trend
Data Analytics getting real scale
the target is roughly $27M in 2026 revenue. you want to see that number move from strategic talking point to material contributor.
risk
PowerTech backlog conversion
with 70% of expected 2026 growth tied to one acquisition, every update on utilization, contracts, and revenue recognition matters more than usual.
calendar
next earnings for proof, not promises
the next report needs to show margin durability and integration progress at the same time. one without the other will not settle the debate.
Analyst rankings
earnings predictability
25 / 100
in human-speak, analysts do not view these earnings as especially easy to model. expect uneven quarters and a stock that reacts hard to them.
risk rank
2
on this measure, FTK screens safer than 80% of stocks. that is balance-sheet comfort, not trading calm.
source: institutional data
Institutional activity
institutional ownership data for FTK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$18
current price
n/a
target midpoint · n/a from current
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