Here are 1-3 brief analogies for TechnipFMC (FTI):

1. Think of them as the 'Boeing for deep-sea oil and gas production systems'.
2. They are like the 'Caterpillar for deep-sea oil and gas infrastructure and production equipment'.
3. They are like the 'General Electric for complex subsea and surface oil and gas production systems'.

• Integrated Subsea Systems (iEPCI™): Provides comprehensive engineering, procurement, construction, and installation services for subsea production systems and infrastructure for offshore energy projects.
• Surface Technologies Equipment & Services: Offers a range of wellhead, completion, and flowline products, along with drilling and production services for onshore and shallow-water operations.

TechnipFMC (FTI) primarily sells its products, systems, and services to other companies, operating on a business-to-business (B2B) model. Their offerings include subsea systems, surface technologies, and energy infrastructure solutions for the oil and gas industry, as well as emerging energy sectors.

While TechnipFMC's public financial filings (such as their 10-K reports) do not typically disclose specific individual customers by name (unless a single customer accounts for 10% or more of total revenue, which is not currently reported), their major customers broadly fall into the following categories:

• International Oil Companies (IOCs): Major global energy companies involved in the full spectrum of upstream (exploration and production), midstream (transportation), and downstream (refining and marketing) activities.
• National Oil Companies (NOCs): State-owned or controlled entities that manage their respective country's oil and gas resources.
• Independent Oil and Gas Companies: Smaller to mid-sized companies primarily focused on exploration and production.
• Other Energy Companies: Entities involved in new energy segments like offshore wind, hydrogen, and carbon capture and storage (CCUS), where TechnipFMC also provides solutions.

Based on TechnipFMC's market position, extensive offerings, and the nature of the energy industry, their major customers are typically the largest global energy companies. While specific names are not disclosed by TechnipFMC as accounting for a significant percentage of revenue, examples of the types of public companies that would constitute their major customer base in the IOC and NOC categories include:

• ExxonMobil (XOM)
• Chevron (CVX)
• Shell plc (SHEL)
• BP plc (BP)
• TotalEnergies SE (TTE)
• Equinor ASA (EQNR)
• Petrobras (PBR)
• ConocoPhillips (COP)

Douglas J. Pferdehirt, Chairman and Chief Executive Officer

Douglas J. Pferdehirt is the Chairman and Chief Executive Officer of TechnipFMC. He previously served as President and Chief Executive Officer of FMC Technologies. Before joining FMC Technologies in 2012, Mr. Pferdehirt spent 26 years at Schlumberger Limited, where he held various executive leadership positions, including Executive Vice President of Corporate Development and Communications, President of Schlumberger’s Reservoir Production Group, Vice President of Investor Relations and Communications, and President of North and South America Schlumberger.

Alf Melin, Executive Vice President and Chief Financial Officer

Alf Melin was appointed Executive Vice President and Chief Financial Officer of TechnipFMC in January 2021. He joined the company in 1995 and has held numerous leadership roles in finance, treasury, and operations. Previously, he was Senior Vice President of Finance Operations, overseeing global finance activities across all segments and directly managing finance operations for the Subsea segment. His past operational roles also include Senior Vice President, Surface Americas, and General Manager, Fluid Control.

Jonathan Landes, President, Subsea

Jonathan Landes serves as the President of TechnipFMC's Subsea business. Prior to this role, he held global responsibility for all Commercial and Front-End Engineering activities for TechnipFMC’s Subsea business. He also served as President North America for TechnipFMC Subsea. Before the 2017 merger that formed TechnipFMC, Mr. Landes was General Manager, North America for FMC Technologies’ Subsea business, and held General Manager roles in FMC Technologies’ Fluid Control and Material Handling & Blending business units. He has 25 years of experience in the energy industry.

Justin Rounce, Executive Vice President and Chief Technology Officer

Justin Rounce is the Executive Vice President and Chief Technology Officer of TechnipFMC, responsible for Research and Innovation, Product Engineering, Procurement and Sourcing, Manufacturing, Quality, Safety, Security, IT, and Digital. He also oversees Corporate Development, Mergers & Acquisitions, and External Technology Engagement. Before joining TechnipFMC, Mr. Rounce spent 31 years at Schlumberger Limited in various executive leadership positions, including Vice President of Software Technologies, Vice President of Mergers and Acquisitions, and Senior Vice President, Marketing and Technology. He also served as Chief Technology Officer for Cameron International prior to its acquisition by Schlumberger.

Cristina Aalders, Executive Vice President, Chief Legal Officer, and Secretary

Cristina Aalders is TechnipFMC's Executive Vice President, Chief Legal Officer, and Secretary. She is responsible for legal, compliance, and facilities management, and holds the position of Chief Compliance Officer. With over 15 years at TechnipFMC, Ms. Aalders has held various legal leadership roles, including Vice President, Legal for Surface Technologies, where she managed the legal function for the Surface business, and multiple Senior Counsel and Legal Director roles supporting commercial activities and operations for both Subsea and Surface.

Key Risks to TechnipFMC (FTI)

1. Market Volatility and Dependence on the Oil and Gas Industry: TechnipFMC's demand for equipment, systems, and services is highly dependent on the global oil and gas industry's environment and expenditure levels. This industry is subject to significant volatility influenced by global economic conditions, geopolitical events, and fluctuations in commodity prices. Such volatility can lead to project deferrals or cancellations, which directly impacts the company's revenue and earnings.
2. Operational Risks and Execution of Complex Projects: The nature of TechnipFMC's business involves complex, large, and long-term projects with inherent operational risks. These risks include the potential for cost overruns, project delays, and technical challenges. The ability to meet customer delivery schedules for its backlog is dependent on various factors, including access to raw materials, an adequately trained workforce, subcontractor performance, and sufficient manufacturing capacity. Failure to deliver in accordance with customer expectations can lead to liquidated damages, reduced margins, or damaged customer relationships.
3. Intense Competition: TechnipFMC operates within a highly competitive offshore oilfield services industry, with numerous companies vying for contracts. To secure new projects and maintain market share, the company must continually innovate and maintain cost competitiveness. This competitive landscape can exert pressure on profit margins and necessitate ongoing investment in technology and capabilities.

The acceleration of the global energy transition, characterized by a significant shift in capital investment away from traditional fossil fuel exploration and production towards renewable energy sources (such as offshore wind) and new energy solutions (such as hydrogen and carbon capture and storage). This directly threatens the long-term demand for TechnipFMC's core subsea and surface technologies and services, which are predominantly tied to oil and gas projects, as major energy companies and governments prioritize decarbonization efforts and redirect investment.

TechnipFMC (FTI) operates primarily in two segments: Subsea and Surface Technologies. The addressable markets for their main products and services are sized as follows:

• Subsea Systems: The global subsea system market was valued at approximately USD 19.78 billion in 2023 and is projected to grow to USD 32.3 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period (2025-2032). Another estimate places the global subsea systems market at USD 21.04 billion in 2025, expected to reach USD 28.13 billion by 2030, with a CAGR of 5.98%. For subsea production and processing systems specifically, the global market size was USD 18.63 billion in 2023 and is anticipated to exceed USD 40.9 billion by 2033, growing at a CAGR of 8.18% from 2023 to 2033.
• Flexible Pipes (within Subsea): The global flexible pipes market size was estimated at USD 1.25 billion in 2023 and is projected to reach USD 1.65 billion by 2030, growing at a CAGR of 4.0% from 2024 to 2030. Another source estimates the global flexible pipe market size at USD 1.26 billion in 2025, projected to climb to USD 1.63 billion by 2030, representing a 5.34% CAGR.
• Pressure Control Equipment (within Surface Technologies): The global pressure control equipment market size was valued at around USD 7.7 billion in 2023 and is estimated to register a CAGR of approximately 4.6% from 2024 to 2032. Another report indicates that the market size is valued at USD 10.1 billion in 2025 and is projected to reach USD 11.27 billion by 2030, advancing at a 6.83% CAGR.
• Offshore Oil and Gas Market (overarching market for Subsea and some Surface operations): The global offshore oil and gas market size was USD 129.88 billion in 2023 and is likely to reach USD 278.20 billion by 2032, expanding at a CAGR of 8.5% during 2024–2032.
• Onshore Oil & Gas Pipeline Market (relevant for Surface Technologies serving onshore markets): The global onshore oil & gas pipeline market size was over USD 68.16 billion in 2025 and is anticipated to cross USD 101.87 billion by 2035, growing at more than a 4.1% CAGR during the forecast period (2026-2035).

Share Repurchases

• TechnipFMC authorized an initial $400 million share repurchase program in July 2022.
• In October 2024, the company authorized an additional $1 billion for share repurchases, bringing the total authorization to $1.2 billion.
• An additional $2 billion share repurchase authorization was announced in October 2025, increasing the total authorized amount to $2.3 billion, representing nearly 16% of outstanding shares at the time.

Outbound Investments

• TechnipFMC acquired Magma Global, a manufacturer of advanced composite subsea pipes, in October 2021.
• In March 2024, TechnipFMC made a Later Stage VC investment in Floating Power Plant.

Capital Expenditures

• Capital expenditures were $126.2 million in the fourth quarter of 2024.
• For the full year 2024, TechnipFMC's total shareholder distributions, including dividends and share repurchases, were $486 million. The company aims to distribute at least 70% of its free cash flow to shareholders in 2025, representing at least a 30% year-over-year increase in distributions.
• Capital expenditures for the third quarter of 2025 were $77 million.