FTIHIGH SIGNALFINANCIAL10-K

FTI delivered exceptional financial performance with operating cash flow surging 84% to $1.8B while simultaneously reducing total debt by 51% to $430M.

This represents a dramatic improvement in FTI's financial position, demonstrating strong cash generation capabilities and successful deleveraging. The combination of substantially higher operating cash flows and material debt reduction significantly strengthens the balance sheet and enhances financial flexibility for growth investments and shareholder returns.

Comparing 2026-02-19 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

FTI demonstrated exceptional financial performance across all key metrics, with operating cash flow nearly doubling to $1.8B and operating income growing 24% to $1.4B, while net income increased 14% to $964M. The company simultaneously achieved a remarkable 51% reduction in total debt to $430M, though cash declined modestly by 11% to $1.0B, likely reflecting the debt paydown strategy. This financial profile signals a company generating substantial cash flows while actively strengthening its balance sheet through aggressive debt reduction, positioning FTI for enhanced financial flexibility and potential capital allocation opportunities.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+83.6%
$961.0M$1.8B

Operating cash flow surged 83.6% — exceptional cash generation, highest quality earnings signal.

Total Debt
Balance Sheet
-51.4%
$885.2M$430.0M

Debt reduced 51.4% — deleveraging strengthens balance sheet and reduces financial risk.

Operating Income
P&L
+24.1%
$1.2B$1.4B

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Net Income
P&L
+14.4%
$842.9M$963.9M

Net income grew 14.4% — bottom-line growth signals improving overall business health.

R&D Expense
P&L
+13.2%
$73.4M$83.1M

R&D investment increased 13.2% — signals commitment to future product development, though near-term margin impact.

Cash & Equivalents
Balance Sheet
-10.9%
$1.2B$1.0B

Cash decreased 10.9% — monitor burn rate and upcoming capital needs.

LANGUAGE CHANGES
NEW — 2026-02-19
PRIOR — 2025-02-27
ADDED
With our proprietary technologies and comprehensive solutions, we transform our clients project economics, unlocking new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
On February 16, 2021, we completed the separation of the Technip Energies business segment.
We drive even greater value to our clients by integrating SPS and SURF work scopes through more efficient design and installation of subsea field architecture.
Success is built on early engagement and a collaborative, cooperative approach with our clients.
Using innovative solutions for subsea architecture including standardized configurable equipment, new technologies, software and digital services, and simplified installation we can optimize field design and layout.
We develop, engineer, manufacture, and install umbilicals, flexible pipes, hybrid-flexible pipes, thermoplastic composite pipes, rigid pipelines and jumpers, connections, and tie-ins for subsea systems.
TechnipFMC leads the industry in flexible pipe technology that combines advanced polymer and steel layers for reliable performance across diverse subsea environments.
We are also an industry pioneer in hybrid-flexible pipe designs, incorporating proprietary thermoplastic composite materials to meet the needs of the most challenging production environments.
Subsea Services provides a portfolio of well and asset services that drive value and efficiency throughout the life of subsea development.
Well Services include all service offerings for the well: drilling: exploration and production wellhead systems and services; installation: installation of subsea production and processing systems and completion of the well; and intervention and plug abandonment ( P A ): rig and vessel-based well intervention services and subsea P A.
REMOVED
With our proprietary technologies and comprehensive solutions, we are transforming our clients project economics helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
On February 16, 2021, we completed the separation of the Technip Energies business segment (the Spin-off ).
We are able to drive even greater value to our clients by integrating the SPS and SURF through more efficient design and installation of subsea field architecture.
iEPCI projects are partnerships based on mutual trust and sharing knowledge.
Success is built on early engagement and a collaborative, cooperative approach, both internally and with our clients.
Using innovative solutions for subsea architecture, including standardized configurable equipment, new technologies, digital services, and simplified installation, we can optimize field design and layout.
We develop, engineer, manufacture, and install umbilicals, flexible, hybrid-flexible and rigid pipelines, connections, and tie-ins for subsea systems.
We are the industry leader in the design and manufacture of flexible pipe that consists of the combination of plastic and steel layers that can be easily adapted to the diverse requirements of subsea developments.
We are also the industry innovator in hybrid-flexible pipe, which utilizes unique and proprietary thermoplastic composite materials to meet the needs of the most challenging production environments.
Subsea Services provides a portfolio of Well and Asset services that drive value and efficiency throughout the life of our clients' subsea development cycle.
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