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FTK, Flotek Industries Inc.

Chemicals diversified

Flotek seeks to provide unique and innovative solutions to its customers in both the domestic and international energy markets.

Flotek Industries Inc. is committed to delivering products and services that endeavor to maximize customer returns by leveraging chemistry as the common value creation platform.

Latest annual: FY2025 10-K

FTK · Flotek Industries Inc.

The business

What it sells, where the money comes from, the kind of company it is.

Revenue · FY2025

$237M

+26.9% YoY · 35% 5-yr CAGR

Vital signs · TTM, with 5-yr average

Revenue $252M 5-yr avg $158M

Gross margin 25% 5-yr avg 12%

Operating margin 10.0% 5-yr avg −14.0%

ROIC 14% 5-yr avg −34%

Owner-earnings margin −0% 5-yr avg −46%

Free cash flow margin −0% 5-yr avg −46%

The business in brief

read the 10-K →

What this business is and what moves its needle, from its own SEC filings.

What moves the needle: Operating margin has reached 12% at its best but run negative through the cycle (median −26%) on a 10% gross margin — so the question is which reading is truer: whether the median was pulled below zero by one-off charges, by the cycle, or by spending it is still growing into, and whether it settles back at a profit. Inventory runs near 13% of sales, so how fast it turns back into cash — and the risk of writing it down when demand softens — sits alongside the margin. Read this kind of business on the spread and utilization. On its own account, the filing leans hardest on customer concentration, set against the numbers in what the filing emphasizes, below.
Is it a good business?: Return on capital has rarely cleared the cost of capital (median −4%, above 15% in 2 of 9 years). Owner earnings, the cash-based check, have been thin too. This is price-taker territory, where the balance sheet and the cycle matter more than any multiple; the rest is in the 10-K.

Every line is arithmetic on the company's filings, shown in full in the sections below.

The record

Ten years of arithmetic, read across the cycle.

The record, 2016–2025

realized figures from each filing · older years to the left

2016’16	2017’17	2018’18	2019’19	2020’20	2021’21	2022’22	2023’23	2024’24	2025’25	TTMTTMMar 2026
											Income statement
$188M	$243M	$178M	$119M	$53M	$43M	$136M	$188M	$187M	$237M	$252M	RevenueRevenue
10%	12%	—	—	−54%	8%	−5%	13%	21%	25%	25%	Gross marginGross mgn
23%	17%	18%	23%	43%	47%	20%	15%	13%	12%	11%	SG&A / revenueSG&A/rev
5%	5%	6%	7%	14%	13%	3%	1%	1%	1%	1%	R&D / revenueR&D/rev
($17M)	($10M)	($70M)	($76M)	($144M)	($31M)	($35M)	$23M	$12M	$23M	$25M	Operating incomeOp. inc.
−9.0%	−4.2%	−39.3%	−63.3%	−270.3%	−72.7%	−26.0%	12.3%	6.5%	9.8%	10.0%	Operating marginOp. mgn
($49M)	($27M)	($70M)	($34M)	($136M)	($31M)	($42M)	$25M	$10M	$31M	$30M	Net incomeNet inc.
											Cash flow & returns
$2M	$12M	($21M)	($5M)	($48M)	($26M)	($45M)	($11M)	$3M	$7M	($88K)	Operating cash flowOp. cash
$8M	$10M	$9M	$8M	$3M	$1M	$734K	$734K	$891K	$2M	$2M	DepreciationDeprec.
$32M	$19M	$33M	$17M	$82M	($82K)	($6M)	($36M)	($9M)	($27M)	($35M)	Working capital & otherWC & other
$13M	$4M	$4M	$2M	$1M	$39K	$421K	—	—	—	$708K	CapexCapex
6.9%	1.7%	2.0%	2.0%	2.7%	0.1%	0.3%	—	—	—	0.3%	Capex / revenueCapex/rev
($11M)	$8M	($24M)	($7M)	($49M)	($26M)	($45M)	—	—	—	($796K)	Owner earningsOwner earn.
−5.9%	3.4%	−13.7%	−5.8%	−92.7%	−59.8%	−33.1%	—	—	—	−0.3%	Owner earnings marginOE mgn
($11M)	$8M	($24M)	($7M)	($49M)	($26M)	($45M)	—	—	—	($796K)	Free cash flowFCF
−5.9%	3.4%	−13.7%	−5.8%	−92.7%	−59.8%	−33.1%	—	—	—	−0.3%	Free cash flow marginFCF mgn
$8M	$0	$0	$0	$26M	$0	—	—	—	—	$0	AcquisitionsAcquis.
$0	$5M	$0	$0	—	—	—	—	—	—	—	BuybacksBuybacks
-4%	-3%	-22%	-83%	-801%	-185%	—	24%	10%	16%	14%	ROICROIC
-17%	-10%	-35%	-20%	-289%	-151%	-1630%	24%	9%	27%	25%	Return on equityROE
−17%	−10%	−35%	−20%	−289%	−151%	n/m	24%	9%	27%	25%	Retained to equityRetained/eq
											Balance sheet
$5M	$5M	$3M	$101M	$39M	$12M	$12M	$6M	$4M	$6M	$6M	Cash & investmentsCash+inv
$47M	$35M	$37M	$16M	$12M	$12M	$19M	—	—	—	$16M	ReceivablesReceiv.
$58M	$32M	$27M	$23M	$12M	$9M	$16M	$13M	$13M	$11M	$14M	InventoryInvent.
$30M	$10M	$15M	$16M	$6M	$8M	$33M	$32M	$38M	$48M	$53M	Accounts payablePayables
$75M	$57M	$49M	$23M	$18M	$14M	$1M	($19M)	($25M)	($38M)	($23M)	Operating working capitalOper. WC
$189M	$138M	$195M	$154M	$66M	$43M	$80M	$76M	$96M	$111M	$126M	Current assetsCur. assets
$88M	$65M	$84M	$41M	$29M	$19M	$151M	$48M	$50M	$62M	$69M	Current liabilitiesCur. liab.
2.2×	2.1×	2.3×	3.7×	2.3×	2.3×	0.5×	1.6×	1.9×	1.8×	1.8×	Current ratioCurr. ratio
$57M	$37M	$0	$0	$8M	$0	—	—	—	—	$0	GoodwillGoodwill
$383M	$330M	$286M	$231M	$86M	$50M	$165M	$158M	$171M	$220M	$232M	Total assetsAssets
$48M	$28M	$50M	$0	$6M	$5M	$3M	$60K	$0	$40M	$62M	Total debtDebt
$44M	$23M	$47M	($101M)	($33M)	($7M)	($10M)	($6M)	($4M)	$34M	$56M	Net debt / (cash)Net debt
-8.6×	-4.8×	-24.4×	-37.4×	-2394.1×	-403.3×	-5.0×	8.1×	11.1×	5.9×	5.0×	Interest coverageInt. cov.
$287M	$265M	$202M	$172M	$47M	$20M	$3M	$102M	$114M	$113M	$118M	Shareholders’ equityEquity
6.1%	4.4%	4.0%	3.5%	5.7%	8.7%	2.4%	−0.1%	0.7%	1.0%	1.1%	Stock comp / revenueSBC/rev
—	—	$37M	—	$12M	$8M	—	—	—	—	—	Goodwill written downGW imp.
											Per share
56.1M	57.6M	58.0M	58.8M	68.3M	73.4M	12.4M	28.4M	30.9M	36.2M	38.3M	Shares out (diluted)Shares
$3.36	$4.22	$3.07	$2.03	$0.78	$0.59	$10.97	$6.63	$6.05	$6.56	$6.57	Revenue / shareRev/sh
$-0.88	$-0.48	$-1.21	$-0.58	$-2.00	$-0.42	$-3.41	$0.87	$0.34	$0.84	$0.78	EPS (diluted)EPS
$-0.20	$0.14	$-0.42	$-0.12	$-0.72	$-0.35	$-3.63	—	—	—	$-0.02	Owner earnings / shareOE/sh
$-0.20	$0.14	$-0.42	$-0.12	$-0.72	$-0.35	$-3.63	—	—	—	$-0.02	Free cash flow / shareFCF/sh
$0.23	$0.07	$0.06	$0.04	$0.02	$0.00	$0.03	—	—	—	$0.02	Cap. spending / shareCapex/sh
$5.12	$4.60	$3.48	$2.93	$0.69	$0.28	$0.21	$3.59	$3.69	$3.13	$3.08	Book value / shareBVPS

The diluted share count moved ×1/5.91 into 2022 — shares retired, not a split the totals corroborate — and the per-share figures carry the counts as filed.

The diluted share count moved ×2.29 into 2023 — shares issued, not a split the totals corroborate — and the per-share figures carry the counts as filed.

Per-share growththe realized rate an owner's share compounded

	9-yr	5-yr
Revenue / share	+7.7%/yr	+53.2%/yr
Capital spending / share	−27.5%/yr (6-yr)	−14.2%/yr
Book value / share	−5.3%/yr	+35.3%/yr

The year, in the company's words

the filing →

Verbatim from the 10-K's management discussion. Each sentence is shown only because its subject, direction, and stated figures check out against the filed numbers on this page. The words are the company's; the arithmetic is the record's.

Operating income+90.6%
“Operating income increased by $11.0 million to $23.2 million for the year ended December 31, 2025 versus the same period in 2024. The increase in 2025 is primarily due to a $20.4 million increase in gross profit resulting from higher product sales and rental revenues, partially offset by $4.4 million in Asset Acquisition expenses, a $3.3 million increase in SG&A expenses and a $0.9 million increase in depreciation expense.”
✓ figure matches the filed record

The record, charted

FY2016–2025

Each measure over its full record; the current point and the worst year marked.

Share count

36Mpeak FY2021

ROIC

16%low FY2020

Gross margin

25%low FY2020

Owner earnings vs. net income

Owner earningsNet income

The accountant's number, and the cash an owner can take; the gap is the tell.

($45M)owner earningsvs.($42M)net incomelow FY2020

Where the cash went

ReinvestBuybacksDividendsAcquisitionsRetainedBeyond op. cash

Each year's outlays against its operating cash: the mix, and how it drifts. The hatched cap is spending beyond that year's operating cash — financed from the balance sheet or borrowing, not operations.

FY2016FY2025

Owner-earnings bridge

FY2018–FY2022cash-flow statement, SEC EDGAR →

Net income is the accountant's number; owner earnings is the cash an owner could take out. The walk between them, off the cash-flow statement, and whether the gap is widening or holding.

In fiscal 2022 the business reported a $42M loss but ($45M) of owner earnings: $3M less than the profit line, taken out by capital spending and the timing of cash.

	FY2022	FY2021	FY2020	FY2019	FY2018
Reported net income	($42M)	($31M)	($136M)	($34M)	($70M)
Depreciation & amortizationnon-cash charge added back	+$734K	+$1M	+$3M	+$8M	+$9M
Stock-based compensationreal costnon-cash, but a real cost	+$3M	+$4M	+$3M	+$4M	+$7M
Working capital & othertiming of cash in and out, other non-cash items	−$6M	−$82K	+$82M	+$17M	+$33M
Cash from operations	($45M)	($26M)	($48M)	($5M)	($21M)
Capital expenditurecash put back in to keep running and to grow	−$421K	−$39K	−$1M	−$2M	−$4M
Owner earnings	($45M)	($26M)	($49M)	($7M)	($24M)
Owner-earnings marginowner earnings ÷ revenue	-33%	-60%	-93%	-6%	-14%

Owner earnings is the cash an owner could pull out without starving the business: operating cash less the capital it must spend to hold its position . The cash-flow statement also adds stock comp back as non-cash, but it is a real cost paid in shares; counted as the expense it is (less $3M), owner earnings is nearer ($48M).

Maintenance capex is estimated as depreciation where a growing business invests above it; free cash flow is the figure the scorecard's free-cash margin reads.

III

Quality & stewardship

Returns, the balance sheet, capital allocation, and pay.

Owner’s Scorecard

FY2025 10-K · source on SEC EDGAR →

Will it survive?

Can it pay its interest? 5.9×

Comfortable

Operating income $23M ÷ interest expense $4M

What this means
Operating profit covers interest with the kind of margin Graham wanted for a defensive holding. Necessary, not sufficient, it says solvent, not cheap.
How heavy is the debt, net of cash? $56M · 2.4× operating profit

Meaningful net debt

Cash $6M − debt $62M

What this means
Netting $6M of cash and short-term investments against $62M of debt leaves $56M owed, about 2.4× a year's operating profit (2.7× on the gross debt, before the cash). Net debt is the leverage figure that matters: the cash is already set against the debt. Strategic or illiquid investments aren't counted here.
How long is cash tied up? -48d

Negative, funded by others

DSO 29 + DIO 22 − DPO 99 days

What this means
Days cash is tied up between paying suppliers and collecting from customers. A negative cycle is a quiet moat: suppliers and customers fund the operation (Buffett's “float”), the company grows on other people's money.

Is it a good business?

Return on invested capital -4%

Below average through the cycle

9-yr median, range -801%–24%; 14% latest = NOPAT $23M ÷ invested capital $169M

Industry peers: median -3%

What this means
The rate the business earns on the money tied up in it, Buffett's north star, because over time a stock tracks the ROIC beneath it. Above ~15% sustained hints at a moat; a return below the cost of capital (~8%) erodes value as a business grows rather than building it — the test Buffett weighs most. The headline is the median of the last 9 years (it ran 14% most recently), so one peak or trough year doesn't set the verdict. Asset-light businesses (R&D expensed, little capital) read artificially high, pair this with Owner Earnings.
Owner-earnings margin 3%

Positive this year, negative across the cycle

latest $7M = operating cash $7M − maintenance capex $421K (positive this year), after an earlier loss stretch (7-yr median -14%)

Industry peers: median 4%

What this means
What an owner could take out without starving the business: operating cash less the maintenance capital it must spend to hold its position — Buffett's owner earnings. That's 3% of revenue this year, a -14% median across 7 years. Treating stock comp as the real expense it is (less $2M of SBC) leaves $4M.
Are earnings backed by cash? 0.24×

Thinly cash-backed

Cash from ops $7M ÷ net income $31M

What this means
How much of reported profit showed up as operating cash. Above 1× is reassuring; well below suggests earnings lean on accruals. One year is noisy, growth and working-capital swings distort it, and this is operating cash, not free cash. Watch the multi-year trend.

How is the cash used?

Where do the earnings go? 0%

Reinvests most of it

Dividends + buybacks $0 ÷ Owner Earnings $7M

What this means
Of $7M Owner Earnings, $0 (0%) went back to shareholders, $0 dividends, $0 buybacks. Returning most of it is the mark of a mature business with little left to reinvest at a high return; reinvesting most could mean a long runway, or empire-building. The split doesn't say which; the return earned on it (see ROIC) does.
Investing or harvesting? 0.23×

Harvesting

Capex $421K ÷ depreciation $2M

What this means
Descriptive, not a grade. Above ~1× means investing faster than assets wear out (growth, or, sustained for years, today's earnings carrying less depreciation than tomorrow's will). Below means spending less than it's wearing out (efficiency, or a melting asset base). The ratio won't tell you which; the filings will.

Graham’s defensive tests · 0 of 5 met

Graham’s numerical criteria for the defensive investor (The Intelligent Investor, ch. 14), run on the filings. A floor of safety, not a buy signal; many fine modern businesses fail his strictest liquidity rules by design.

Adequate size Miss

Revenue ≥ $2B · $237M

What this means
Big enough to weather a storm. Graham's 1972 floor was ~$100M of sales (≈ $700M today); we use a $2B revenue line as a conservative modern stand-in.
Strong liquidity Near

Current ratio ≥ 2× · 1.80×

What this means
Current assets at least twice current liabilities, near-term bills covered without touching the business. Strict by design: many cash-rich modern firms run leaner and miss it, holding their cushion in longer-dated securities.
Conservative debt Near

Debt ≤ working capital · $62M vs $49M WC

What this means
Graham's rule that borrowings not exceed net current assets. Capital-heavy and buyback-heavy firms routinely fail it, read it next to interest coverage, not alone.
Earnings stability Miss

A profit every year (10-yr record) · 7 loss years

What this means
Graham wanted earnings in each of the past ten years, the stability a defensive owner leans on.
Dividend record Miss

Uninterrupted dividends · none paid

What this means
An unbroken dividend was Graham's mark of durability. He wanted twenty years; the filings show about ten, and a single suspension breaks the streak. Non-payers, many fine modern compounders, fall outside his defensive net by design.
Earnings growth —

Earnings +33% over the record · —

What this means
Earnings were negative early in the record, a growth rate isn't meaningful.
Moderate price —

P/E ≤ 15 and P/E × P/B ≤ 22.5 · decided by the price

What this means
Graham's valuation gate, the wall he kept between a sound business and a sound investment. Three-year average earnings are $0.61/share (latest year $0.84), the averaged base the calculator's gate runs on, and book value is $3.13/share. Enter a price in “What the price implies” just below for the P/E, P/B, and whether it clears. But this is the rule Buffett outgrew: there's no hard P/E law, and a wonderful business can deserve a far richer multiple if the thesis holds, treat it as the bargain-hunter's floor, not a verdict on the price.

Durability & moat, 2016–2025

Whether the record’s returns held, and what the capital reinvested earned.

Profitable years 3 of 10

What this means
Lost money in 7 year(s), look at what happened there before trusting the average.
Return on capital ≥ 15% 2 of 9 yrs

What this means
A moat shows up as a high return on invested capital that holds year after year, not one good vintage.
Operating margin −18% → 10% (3-yr avg ends)

In the filing’s words The record and the words agree: the margin widened and the filing attributes the gain to its own pricing, not volume alone.

What this means
Through the cycle the operating margin widened — about −18% early to 10% lately, median −26% — pricing power intact or improving.
Reinvestment, incremental ROIC returns capital

What this means
The capital base barely grew: this business returns cash through dividends and buybacks rather than reinvesting. Judge it on the cash returned, not on compounding.
Worst year 2020 · −270.3% op. margin

What this means
Operations went underwater in 2020, understand why before trusting the good years.
Share count −4.8%/yr

What this means
The share count is shrinking, buybacks are quietly growing your slice of the business.
How management talks about it Promotional

What this means
The record is compounding, but the filing leans on a promoter’s vocabulary rather than the per-share, return-on-capital terms an owner uses. The results back the talk here; the register is still worth noting.

Does AI threaten the moat?

Low contestability

The moat is physical, regulated or balance-sheet-funded, the kind AI cuts costs within but does not contest.

In its own filing Framed as a capability

The filing positions AI as something the company uses, not something it fears.

“The instrument's response is processed with advanced chemometrics modeling, artificial intelligence and machine learning algorithms to deliver valuable insights to our customers every 5-15 seconds.”

AI is unlikely to contest a moat that is physical, regulated or balance-sheet-funded; here it reads more as a cost tool than a threat, and the company is using it that way.

Read from the filing's own risk factors, paired with the industry's structure under its SIC code; the durability is read above, the price below.

All figures as filed; the source filing is linked above.

Current Position

as of the latest quarter, Mar 31, 2026

Can the business pay what it owes this year, off the freshest balance sheet: the quality of the assets, the debt actually coming due, and what a low ratio means here.

Current assets$126M

Cash & short-term investments$6M
Receivables$16M
Inventory$14M
Other current assets$90M

Current liabilities$69M

Debt due within a year$1M
Accounts payable$53M
Other current liabilities$15M

Current ratio1.83×all current assets ÷ what's due · Graham looked for 2×

Quick ratio1.62×stricter: inventory excluded

Cash ratio0.08×strictest: cash alone against what's due

Working capital$57Mthe cushion left after near-term bills

Debt due this year vs. cash$1M due · $6M cash covered by cash on hand, no refinancing forced · both figures from the Mar 31, 2026 balance sheet

Revenue, latest quarter vs. a year ago+26.5%the freshest read on whether the business is still growing

Current ratio, recent quarters1.9× → 1.8×

Deeper floors

Tangible book value$118Mequity stripped of goodwill & intangibles

Net current asset value$12MGraham's net-net: current assets less all liabilities

Debt incl. operating leases$48M$6M of it operating leases

Deferred revenue$2Mcustomer cash collected before delivery; operating float

From the company's latest filing.

Acquisitions & goodwill

from the balance sheet & the 10-year cash-flow record

Goodwill grows only when a company acquires and falls only when it concedes it overpaid. The size of that bet, the cash put into buying rather than building, and how much has already been written off.

Goodwill & intangibles$20M9% of all assets; the premium carried on the balance sheet for businesses acquired

Against book equity0%goodwill is this share of book equity; the rest is the company’s own retained and paid-in capital

Cash spent acquiring$34Mover 10 years buying other businesses, against $25M of capital spent building

$57M written down across 3 years (2018, 2020, 2021): goodwill the company has already conceded it overpaid for, charged against earnings. A write-down costs no cash (the cash went out when the deal was signed), but it is management marking its own past judgment to market.

Goodwill, acquired intangibles and equity from the latest balance sheet; acquisition spend and write-downs summed across the 10-year record, from the company's own filings.

Management, ownership & pay

read the proxy →

From the proxy: how much of the business the people running it own, and how they are paid.

Insider ownership2.4%
The stake all directors and executive officers hold together, per the 2026 proxy: skin in the game, the first thing Munger reads.
Stock-based compensation$2M
The slice of the business handed to employees in shares this year, 1% of revenue, equal to 10% of operating profit. Buffett's oldest accounting fight: this is compensation, compensation is an expense, real whether or not the headline earnings admit it. One trap: the cash-flow statement adds SBC back, so the operating cash, and the owner earnings drawn from it, are flattered by exactly this amount; counted as the cost it is, what an owner keeps is lower.

Inverting the record

Invert: instead of why Flotek Industries Inc. is a good business, the question is what would make owning it a mistake, and whether those marks are in the record. Disconfirming tests across 2016–2025.

2 of the 4 tests turned up something to look into; the other 2 came back clean.

Look hereIs it less profitable than it was?−61.9% vs −5.4%
The business ran at a loss early in the record (an owner-earnings margin of −5.4%) and the loss has widened to −61.9% across the last three years, with the latest year at −33.1%. Ask the filing where the widening sits — price, cost, or spending growing faster than revenue — and what would narrow it.
Look hereDid debt outgrow the business?$48M → $62M
Debt rose from $48M to $62M while owner earnings went from about ($9M) to ($40M): the borrowing grew and the earnings that would carry it are not there now. Debt raised for buybacks or deals rather than growth is the kind that bites in a downturn.

And these came back clean

Did receivables and inventory outpace sales?
Are "one-time" charges a yearly habit?

Each test is read from the filings and is noisy alone; a flag can mark a cyclical trough or a year of heavy investment as easily as a problem. The filing says which.

Peers, nearest by economic model

No close industry peers in the catalog yet, so these are the nearest by economic model (general), compared on owner economics. Each figure is a through-cycle median, so a peak or trough year can’t distort it; the group median at the foot is the line to read each against.

Company	Revenue	Gross margin	Op. margin	ROIC	Owner earn. margin
TRNSTranscat Inc.	$332M	28%	6.4%	9%	4%
FLGTFulgent Genetics Inc.	$323M	57%	-10.0%	-3%	7%
WDWalker & Dunlop	$320M	—	143.4%	14%	149%
FTKFlotek Industries Inc.	$237M	11%	-17.5%	-4%	-14%
SEZLSezzle Inc.	$236M	—	-5.4%	-141%	14%
SRTAStrata Critical Medical Inc.	$197M	19%	-36.6%	-9%	-30%
GEMIGemini Space Station Inc.	$180M	—	-192.5%	-95%	-123%
ASPSAltisource Portfolio Solutions S.A.	$171M	26%	2.4%	5%	-3%
Group median	—	26%	-7.7%	-3%	0%

The price

What a price has to assume.

What the price implies

reverse-DCF

Flotek Industries Inc. is profitable, but owner earnings are negative this year because capital spending currently outruns operating cash, a build-out, so the owner-earnings reverse-DCF has no positive base to grow. We read the price from both ends instead: type a price to see the steady-state profitability it demands, then set the mature margin you would believe and weigh the two against each other. Nothing leaves your browser unless you enter it in your notebook.

Today’s price $

The assumptions Required return 9% Years to get there 10 Revenue growth 0%

Revenue, delivered42%/yr’20→’25

Mature owner-earnings margin 15%

Enter a price to run it.

Owner earnings it must reach—

Margin the price demands—

Owner-earnings margin today−0%

Two reads of one future. From your price: the owner earnings the company must reach, valued at a mature multiple and discounted back at your rate, expressed as the margin it implies on revenue grown at your rate. From your belief: the mature margin you would credit, set on the dial above. When the margin the price demands runs above the one you would believe, you are paying for a future taken on faith. For a deep cyclical at a trough, normalized through-cycle earnings are the better lens; this mode is for the genuinely unprofitable, and for the profitable business whose capital spending currently outruns its cash.

Weigh FTK against another business →

The owners of FTK: the meeting and the votes →

Cite: Owner Scorecard, "Flotek Industries Inc. (FTK), the owner's record," https://ownerscorecard.com/c/FTK, data as of 2026-07-09.

Manual order: ← FTI its page in the Manual FTNT →

Industry order: ← FSI the Chemicals chapter FUL →