Technipfmc Plc

FTI

Oil & Gas Field Machinery & Equipment

Mkt Cap

$11.32B

PE

54.29

Debt

$1.16B

Cash

EV

FCF

$732.6M

Market Cap

$11.32B

P/E Ratio

54.29

Debt

$1.16B

Cash

EV

FCF

$732.6M

Charts data: {"Earnings":[{"time":"2015-12-30","value":0},{"time":"2016-12-30","value":-11900},{"time":"2017-12-30","value":113300000},{"time":"2018-12-30","value":-1921600000},{"time":"2019-12-30","value":-2415200000},{"time":"2020-12-30","value":-3287600000},{"time":"2021-12-30","value":13300000},{"time":"2022-12-30","value":-107200000},{"time":"2023-12-30","value":51900000}],"Sales":[{"time":"2015-12-30","value":11471900000},{"time":"2016-12-30","value":0},{"time":"2017-12-30","value":15056900000},{"time":"2018-12-30","value":12552900000},{"time":"2019-12-30","value":13409100000},{"time":"2020-12-30","value":13050600000},{"time":"2021-12-30","value":6403500000},{"time":"2022-12-30","value":6700400000},{"time":"2023-12-30","value":7824200000}],"Net Margins":[{"time":"2015-12-30","value":0},{"time":"2017-12-30","value":0.007524789299258147},{"time":"2018-12-30","value":-0.15308016474280844},{"time":"2019-12-30","value":-0.18011648805661826},{"time":"2020-12-30","value":-0.25191178949626836},{"time":"2021-12-30","value":0.0020769891465604747},{"time":"2022-12-30","value":-0.01599904483314429},{"time":"2023-12-30","value":0.006633266020807239}],"Assets":[{"time":"2015-12-30","value":74100},{"time":"2016-12-30","value":74100},{"time":"2017-12-30","value":28263700000},{"time":"2018-12-30","value":24784500000},{"time":"2019-12-30","value":23518800000},{"time":"2020-12-30","value":19692600000},{"time":"2021-12-30","value":10020100000},{"time":"2022-12-30","value":9444300000},{"time":"2023-12-30","value":9656600000}],"Stockholders Equity":[{"time":"2015-12-30","value":74100},{"time":"2016-12-30","value":74100},{"time":"2017-12-30","value":13409400000},{"time":"2018-12-30","value":10430900000},{"time":"2019-12-30","value":7688100000},{"time":"2020-12-30","value":4214300000},{"time":"2021-12-30","value":3418400000},{"time":"2022-12-30","value":3276700000},{"time":"2023-12-30","value":3172100000}],"ROE":[{"time":"2015-12-30","value":0},{"time":"2016-12-30","value":-0.16059379217273953},{"time":"2017-12-30","value":0.008449296761972945},{"time":"2018-12-30","value":-0.184221879224228},{"time":"2019-12-30","value":-0.31414783886786074},{"time":"2020-12-30","value":-0.7801058301497283},{"time":"2021-12-30","value":0.0038907091036742337},{"time":"2022-12-30","value":-0.03271584215826899},{"time":"2023-12-30","value":0.016361400964660634}],"ROA":[{"time":"2015-12-30","value":7470.985155195682},{"time":"2016-12-30","value":7441.295546558705},{"time":"2017-12-30","value":0.047909509370676874},{"time":"2018-12-30","value":-0.021493272004680344},{"time":"2019-12-30","value":-0.04865044134904842},{"time":"2020-12-30","value":-0.1300590069366158},{"time":"2021-12-30","value":0.01977026177383459},{"time":"2022-12-30","value":0.039801785203773705},{"time":"2023-12-30","value":0.06816063624878321}]}

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation. It provides subsea production and flexible pipe; subsea umbilicals, risers, and flowlines; vessels; and Subsea Studio for optimizing the development, execution, and operation of current and future subsea fields. This segment also offers well and asset services. The Surface Technologies segment designs, manufactures, and services products and systems used in land and shallow water exploration and production of crude oil and natural gas. This segment offers surface wellheads and production trees systems; iComplete, a pressure control system; fracturing tree and manifold systems; pressure pumping; safety and integrity systems, multiphase meter modules, in-line separation and processing systems, and standard pumps; well control and integrity systems, flowback and well testing services; skid systems; digital systems; and flow measurement and automation solutions. It also offers planning, testing and installation, commissioning, operations, replacement and upgrade, maintenance, storage, preservation, intervention, integrity, decommissioning, and abandonment; and supplies flexible lines and flowline products and services. TechnipFMC plc has a strategic alliance with Talos Energy Inc. to develop carbon transportation and storage services. The company was founded in 1884 and is based in Newcastle Upon Tyne, the United Kingdom.

Sector

10-Q
9/30/23
10-Q
6/30/23
10-Q
3/31/23
10-K
12/31/22
10-Q
9/30/22
10-Q
6/30/22
10-Q
3/31/22
10-K
12/31/21
10-Q
9/30/21
10-Q
6/30/21
10-Q
3/31/21
10-K
12/31/20
10-Q
9/30/20
10-Q
6/30/20
10-Q
3/31/20
10-K
12/31/19
10-Q
9/30/19
10-Q
6/30/19
10-Q
3/31/19
10-K
12/31/18
10-Q
9/30/18
10-Q
6/30/18
10-Q
3/31/18
10-K
12/31/17

DCF

Discounted Cash Flow Valuation of Technipfmc Plc

Calculate

Growth Years

Growth

Start

End

Discount

Start

End

Multiple

g\r	+10%	+11%	+12%	+13%	+14%
0%	10	9	8	8	7
+1%	11	10	9	8	8
+2%	13	11	10	9	8
+3%	14	13	11	10	9
+4%	17	14	12	11	10

Years	0	1	2	3	4	5	6	7	8	9	10	TV
FCF	$732.6M	$851.2M	$978.4M	$1.112B	$1.251B	$1.391B	$1.53B	$1.664B	$1.788B	$1.9B	$1.995B	$19.95B
DCF		$740.2M	$739.8M	$731.4M	$715.3M	$691.7M	$661.5M	$625.4M	$584.5M	$540M	$493.1M	$4.931B
Value	$11.45B

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth 6.5%

Earnings Stability -90%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been increasing indicating a higher marginal ROA with respect to the calculated one, giving a good sign for continued growth.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	0%	-	0.75%	-15%	-18%	-25%	0.21%	-1.6%	0.66%	2.6%
ROA	750K%	740K%	4.8%	-2.1%	-4.9%	-13%	2%	4%	6.8%	9.1%
ROE	0%	-16%	0.84%	-18%	-31%	-78%	0.39%	-3.3%	1.6%	6.9%

What is the average Net Margin?

The average Net Margin over the past 5 years is -9.87%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +4.41%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is -1.21%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +2.47%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -21.52%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +7.52%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	-	17.89	-87.38	-7.69	12.61	9.55	3.87	8.93	2.61	1.58
Debt Equity	-	43677.46	0.29	0.41	0.65	1.09	0.67	0.53	0.38	0.38
MIN
Graham Stability	-	-	-	-5.1K%	-	-	-	-	-	-5.1K%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 1.58.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.99.

What is the Graham’s Stability?

Graham’s Stability measure stands at -50.89.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Data are missing

Years	12-2016	12-2018	12-2020	12-2022	Trend
Revenue	-	-9%	-16%	17%	3.2%
Net Income	-	-	-	-	-
Stockholders Equity	360%	-21%	-9%	-3.2%	-1.1M%
FCF	15%	-	-0.9%	140%	17%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -9.02%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +3.21%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -21.19%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -1.08M%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +16.83%.