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ZYBERNO

Stock Report

Updated Sep 1, 2026

FLOTEK INDUSTRIES INC/CN (FTK)

Materials • NYSE

$23.93

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

61.0/100

AVERAGE BUSINESS

FLOTEK INDUSTRIES INC/CN (FTK) scores 61/100 — decent metrics but limited evidence of durable competitive advantage.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full FTK quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

Margin of Safety unavailable — insufficient data for the owner-earnings DCF.

BRINA GAP ↗

Is the market underestimating or overestimating what this business is capable of going forward?

-15.1%

Market Overestimates

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full FTK valuation analysis · → View full FTK Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):EXCELLENT (32.3%)

Debt-to-Equity (Solvency Risk):GOOD (0.36x)

Operating Margin (Operational Efficiency):AVERAGE (12.8%)

Return on Capital (Capital Efficiency):GOOD (16.6%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

FLOTEK INDUSTRIES INC/CN (FTK) stock report — Zyberno Score 61/100 (AVERAGE BUSINESS). Full financial analysis on Zyberno.

According to Zyberno's DCF model, FLOTEK INDUSTRIES INC/CN (FTK) shows a Brina Gap of -15.1%, which weakens the case: based on the company's ROIC (16.6%) and reinvestment rate (-6.7%), the business can fundamentally grow at -1.1% — but the current enterprise value implies the market expects 14.0%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:23.93

Market Cap:$865.09M

Valuation Multiples (4)

P/E Ratio:

23.93x

📊 Click to view full FTK P/E analysis →

P/B Ratio:6.70x

P/S Ratio:2.95x

Peg Ratio:0.20x

Enterprise Metrics (2)

Enterprise Value:$902.02M

Ev Ebitda Ratio:22.51x

Price Action & Momentum (3)

12-1 Momentum:

+97.9% (84th pctile)

📈 Click to view full FTK Momentum analysis →

Momentum Percentile:84 / 100

% of 52-Week High:60.3%

B. Profitability Assessment

Return Metrics (7)

ROE:

32.3%

📊 Click to view full FTK ROE analysis →

ROA:16.3%

Roic:

16.6%

📊 Click to view full FTK ROIC analysis →

Reinvestment Rate:-6.7%

Fundamental Growth Rate (g):-1.1%

Market-Implied Growth Rate:14.0%

Brina Gap:

-15.1%

☷ Click to view full FTK Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:12.8%

Net Margin Ttm:13.0%

Ebitda Margin:13.7%

TTM Performance (3)

Gross Margin Ttm:24.7%

Operating Margin Ttm:12.8%

Net Margin Ttm:13.0%

Yield Metrics (2)

Earnings Yield:$4.18

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+0.86

📊 Click to view full FTK Earnings Surprise analysis →

EPS Surprise vs Expected:103.9%

Latest Earnings Filed:2026-08-06

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):64.2%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):22.4%

Cash Flow Growth (Linear) (1)

Operating Cash Flow Growth Rate (Linear):-38.8%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):54.2%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.78x

Quick Ratio:1.50x

Cash Ratio:0.05x

Leverage Analysis (3)

Debt To Equity Ttm:0.36x

Debt-to-Equity Ratio:0.36x

Debt To Ebitda:1.03x

Coverage Ratios (2)

Interest Coverage Ratio:4.28x

Times Interest Earned:4.28

Capital Structure (4)

Working Capital:73,392,000.00

Cash And Cash Equivalents:4,402,000.00

Long Term Debt:$40.00M

Net Debt:$36.92M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $292.97M

Linear Growth: 64.2%

📊 Click to view full FTK Revenue analysis & methodology →

Cost Of Revenue Ttm:$220.67M

Profitability Breakdown (2)

Gross profit TTM: $72.30M

Linear Growth: 70.9%

📊 Click to view full FTK Gross Profit analysis & methodology →

Operating income TTM: $37.57M

Linear Growth: 54.2%

📊 Click to view full FTK Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $38.00M

Linear Growth: 22.4%

📊 Click to view full FTK Net Income analysis & methodology →

Income Before Tax:$32.23M

Ebitda Ttm:40,070,000.00

Operating Expenses (5)

Operating Expenses:34,736,000.00

R And D Expense:1,905,000.00

Sga Expense:29,629,000.00

Income Tax Expense:-$5.68M

Interest Expense:5,428,000.00

Expense Ratios (3)

R And D To Revenue Percentage:1.9%

Sga To Revenue Percentage:29.8%

Ebitda Margin:13.7%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$268.04M

Current Assets:$167.54M

Ppe Net:0.00

Goodwill:0.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:138,823,000.00

Current Liabilities:94,145,000.00

Long Term Debt:$40.00M

Short Term Debt:$1.32M

Equity & Capital (3)

Equity:$129.21M

Retained Earnings:-$271.16M

Common Stock:240,000,000.00

Working Capital Items (3)

Accounts Receivable:0.00

Inventory:26,626,000.00

Accounts Payable:74,550,000.00

Special Items (2)

Contract Liabilities:1,376,000.00

Stock Based Compensation:824,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: -$88.00K

Linear Growth: -38.8%

$0.00

Investment Activities (1)

Investing Cash Flow:-$1.00M

Financing Activities (3)

Financing Cash Flow:$892.00K

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:44,000.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:2,505,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):1.08

Eps diluted TTM: $1.00

Linear Growth: 79.9%

📊 Click to view full FTK EPS analysis & methodology →

Earnings Per Share Ttm:$1.05

Revenue & Cash Per Share (2)

Sales Per Share Ttm:8.10

Operating Cash Flow Per Share:$0.20

Book Value & Capital (2)

Book Value Per Share:$3.57

Cash Per Share:0.12

Dividend Policy (1)

Dividend Payout Ratio:0.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:1.26x

Working Capital Turnover Ttm:3.99x

Receivables Management (2)

Receivables Turnover Ttm:-999.00x

Days Sales Outstanding Ttm:-999.00

Inventory Management (2)

Inventory Turnover Ttm:8.29x

Days Inventory Outstanding Ttm:44.04

Payables & Cash Cycle (2)

Days Payable Outstanding:123.31

Cash Conversion Cycle:-1,078.27

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:80.00

Quality Score:75.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Damodaran Growth Analysis (4)

Reinvestment Rate:-6.7%

Fundamental Growth Rate (g):-1.1%

Market-Implied Growth Rate:14.0%

Brina Gap:

-15.1%

☷ Click to view full FTK Brina Gap analysis →

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):64.2%

Net Income Growth Rate (Linear):22.4%

Operating Income Growth Rate (Linear):54.2%

Cash Flow Growth Rates (1)

Operating Cash Flow Growth Rate (Linear):-38.8%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):70.9%

Book Value Growth Rate (Linear):47.5%

C. Company Profile & Context

Corporate Information (6)

Symbol:FTK

Company Name:FLOTEK INDUSTRIES INC/CN

Sector:Materials

Industry:Miscellaneous Chemical Products

Exchange:NYSE

Country:United States

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:36.15M

Shares Outstanding Basic:36.15M

Shares Outstanding Diluted:38.47M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 07:46:41 UTC

Data Timestamp:2026-09-01T07:46:41.351905