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Kodiak Gas Services, Inc. (KGS) 10-Year Financial Performance & Capital Metrics

KGS • • Industrial / General
EnergyOilfield ServicesCompression & Processing EquipmentNatural Gas Compression
AboutKodiak Gas Services, Inc. operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segment operates company-owned and customer-owned compression infrastructure to enable the production, gathering, and transportation of natural gas and oil. The Other Services segment provides a range of contract services, including station construction, maintenance and overhaul, and other ancillary time and material-based offerings. The company was formerly known as Frontier TopCo, Inc. Kodiak Gas Services, Inc. was founded in 2010 and is based in Montgomery, Texas. Kodiak Gas Services, Inc. operates as a subsidiary of Frontier Topco Partnership, L.P.Show more
  • Revenue $1.16B +36.3%
  • EBITDA $510M +19.4%
  • Net Income $50M +148.7%
  • EPS (Diluted) 0.56 +93.1%
  • Gross Margin 38.01% +2.1%
  • EBITDA Margin 43.97% -12.4%
  • Operating Margin 21.52% -25.0%
  • Net Margin 4.3% +82.4%
  • ROE 3.97% +35.6%
  • ROIC 5.36% -13.6%
  • Debt/Equity 1.93 +20.6%
  • Interest Coverage 1.27 +15.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 4.3%
  • ✓Healthy 5Y average net margin of 10.2%

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 24.7% in last year
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y24.11%
TTM19.43%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-34.91%
TTM213.22%

EPS CAGR

10Y-
5Y-
3Y-38.52%
TTM171.92%

ROCE

10Y Avg8.23%
5Y Avg8.23%
3Y Avg7.53%
Latest6.98%

Peer Comparison

Natural Gas Compression
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Size & Scale
Valuation
Per Share
Growth
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Quality & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
KGSKodiak Gas Services, Inc.3.15B36.7965.7036.33%5.84%5.98%1.93
USACUSA Compression Partners, LP3.16B25.7335.7412.32%10.99%94.47%4.32%90.78
NGSNatural Gas Services Group, Inc.429.86M34.2024.9629.36%11.2%6.89%0.67
AROCArchrock, Inc.4.59B26.1824.9316.89%18.43%18.65%1.54%1.67

Profit & Loss

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+532.42M606.38M707.91M850.38M1.16B
Revenue Growth %-0.14%0.17%0.2%0.36%
Cost of Goods Sold+324.94M370.22M441.81M533.74M718.65M
COGS % of Revenue0.61%0.61%0.62%0.63%0.62%
Gross Profit+207.47M236.15M266.1M316.64M440.66M
Gross Margin %0.39%0.39%0.38%0.37%0.38%
Gross Profit Growth %-0.14%0.13%0.19%0.39%
Operating Expenses+39.04M47.2M44.01M72.53M191.21M
OpEx % of Revenue0.07%0.08%0.06%0.09%0.16%
Selling, General & Admin39.04M37.66M44.88M73.31M151.68M
SG&A % of Revenue0.07%0.06%0.06%0.09%0.13%
Research & Development00000
R&D % of Revenue-----
Other Operating Expenses09.53M-874K-777K39.53M
Operating Income+168.43M188.96M222.09M244.11M249.45M
Operating Margin %0.32%0.31%0.31%0.29%0.22%
Operating Income Growth %-0.12%0.18%0.1%0.02%
EBITDA+314.06M349M396.55M426.98M509.72M
EBITDA Margin %0.59%0.58%0.56%0.5%0.44%
EBITDA Growth %-0.11%0.14%0.08%0.19%
D&A (Non-Cash Add-back)145.63M160.04M174.46M182.87M260.27M
EBIT118.77M207.03M305.22M257.65M273.05M
Net Interest Income+-113.44M-84.64M-165.87M-222.51M-197.14M
Interest Income00000
Interest Expense113.44M84.64M165.87M222.51M197.14M
Other Income/Expense-163.1M-66.56M-82.73M-208.97M-173.54M
Pretax Income+5.33M122.39M139.36M35.14M75.91M
Pretax Margin %0.01%0.2%0.2%0.04%0.07%
Income Tax+7.52M-58.57M33.09M15.07M25.57M
Effective Tax Rate %-0.41%1.48%0.76%0.57%0.66%
Net Income+-2.19M180.96M106.27M20.07M49.9M
Net Margin %-0%0.3%0.15%0.02%0.04%
Net Income Growth %-83.82%-0.41%-0.81%1.49%
Net Income (Continuing)-2.19M180.96M106.27M20.07M50.33M
Discontinued Operations00000
Minority Interest000013.69M
EPS (Diluted)+-0.032.411.420.290.56
EPS Growth %-83.82%-0.41%-0.8%0.93%
EPS (Basic)-0.032.411.420.290.60
Diluted Shares Outstanding75M75M75M68.33M85.17M
Basic Shares Outstanding75M75M75M68.06M83.09M
Dividend Payout Ratio-0.01%7.89%3.59%2.68%

Balance Sheet

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+142.41M164.15M204.03M230.96M383.66M
Cash & Short-Term Investments24.11M28.8M20.43M5.56M4.75M
Cash Only24.11M28.8M20.43M5.56M4.75M
Short-Term Investments00000
Accounts Receivable65.28M80.75M101.11M130.62M261.21M
Days Sales Outstanding44.7548.6152.1356.0682.24
Inventory45.38M48.35M72.16M76.24M103.34M
Days Inventory Outstanding50.9847.6759.6152.1452.49
Other Current Assets2.34M1.54M4.68M14.53M14.36M
Total Non-Current Assets+3.15B2.85B3B3.01B4.05B
Property, Plant & Equipment2.35B2.4B2.5B2.57B3.45B
Fixed Asset Turnover0.23x0.25x0.28x0.33x0.34x
Goodwill305.55M305.55M305.55M305.55M415.21M
Intangible Assets151.31M141.84M132.36M122.89M162.75M
Long-Term Investments151.31M064.52M14.26M17.54M
Other Non-Current Assets-150.97M449K564K639K1.49M
Total Assets+3.3B3.01B3.21B3.24B4.44B
Asset Turnover0.16x0.20x0.22x0.26x0.26x
Asset Growth %--0.09%0.06%0.01%0.37%
Total Current Liabilities+1.64B144.06M188.97M210.63M319.37M
Accounts Payable33.41M43.74M52.07M65.35M58.67M
Days Payables Outstanding37.5343.1243.0244.6929.8
Short-Term Debt1.51B398K3.09M05.34M
Deferred Revenue (Current)1000K1000K1000K1000K1000K
Other Current Liabilities39.61M7.11M4.67M16.58M17.06M
Current Ratio0.09x1.14x1.08x1.10x1.20x
Quick Ratio0.06x0.80x0.70x0.73x0.88x
Cash Conversion Cycle58.253.1668.7263.51104.93
Total Non-Current Liabilities+897.55M1.91B2.79B1.89B2.74B
Long-Term Debt392.48M1.85B2.72B1.79B2.58B
Capital Lease Obligations006.75M34.47M53.26M
Deferred Tax Liabilities437.33M29.64M57.16M62.75M103.83M
Other Non-Current Liabilities67.75M32.71M3.54M2.15M3.15M
Total Liabilities2.54B2.05B2.98B2.1B3.06B
Total Debt+1.9B1.85B2.73B1.83B2.65B
Net Debt1.88B1.82B2.71B1.82B2.64B
Debt / Equity2.52x1.92x11.92x1.60x1.93x
Debt / EBITDA6.06x5.29x6.88x4.28x5.19x
Net Debt / EBITDA5.99x5.20x6.83x4.26x5.18x
Interest Coverage1.48x2.23x1.34x1.10x1.27x
Total Equity+755.29M960.07M229.09M1.14B1.37B
Equity Growth %-0.27%-0.76%3.99%0.2%
Book Value per Share10.0712.803.0516.7216.13
Total Shareholders' Equity755.29M960.07M229.09M1.14B1.36B
Common Stock1K1K590K774K892K
Retained Earnings-92.98M88.08M195.31M178.12M93.64M
Treasury Stock0000-40M
Accumulated OCI00000
Minority Interest000013.69M

Cash Flow

Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+243.98M249.98M219.85M266.33M327.99M
Operating CF Margin %0.46%0.41%0.31%0.31%0.28%
Operating CF Growth %-0.02%-0.12%0.21%0.23%
Net Income-2.19M180.96M106.27M20.07M50.33M
Depreciation & Amortization145.63M166.99M174.46M182.87M260.27M
Stock-Based Compensation01.22M971K5.91M17.66M
Deferred Taxes5.54M027.3M7.86M15.43M
Other Non-Cash Items62.5M-92.8M-71.11M72.09M62.69M
Working Capital Changes32.49M-6.39M-18.05M-22.48M-78.39M
Change in Receivables-1.06M-14.94M-20.44M-36.61M-93.04M
Change in Inventory-3.74M-2.97M-24.3M-4.58M-1.34M
Change in Payables-2.85M-2.78M-1.52M10.17M4.97M
Cash from Investing+-296.38M-202.03M-251.38M-218.42M-292.47M
Capital Expenditures-297.39M-201.93M-259.35M-219.79M-336.96M
CapEx % of Revenue0.56%0.33%0.37%0.26%0.29%
Acquisitions-----
Investments-----
Other Investing-28K-100K8.07M-75K35.03M
Cash from Financing+73.71M-43.25M23.17M-62.77M-36.33M
Debt Issued (Net)-----
Equity Issued (Net)-----
Dividends Paid0-1.13M-838M-72.09M-133.89M
Share Repurchases-----
Other Financing023.11M-27.82M-11.87M-2.15M
Net Change in Cash-----
Free Cash Flow+-53.41M48.04M-39.5M46.53M-8.97M
FCF Margin %-0.1%0.08%-0.06%0.05%-0.01%
FCF Growth %-1.9%-1.82%2.18%-1.19%
FCF per Share-0.710.64-0.530.68-0.11
FCF Conversion (FCF/Net Income)-111.66x1.38x2.07x13.27x6.57x
Interest Paid0119.89M143.44M216.65M147.14M
Taxes Paid01.85M2.18M9.76M14.66M

Key Ratios

Metric20202021202220232024
Return on Equity (ROE)-0.29%21.1%17.87%2.93%3.97%
Return on Invested Capital (ROIC)4.79%5.24%5.83%6.2%5.36%
Gross Margin38.97%38.95%37.59%37.24%38.01%
Net Margin-0.41%29.84%15.01%2.36%4.3%
Debt / Equity2.52x1.92x11.92x1.60x1.93x
Interest Coverage1.48x2.23x1.34x1.10x1.27x
FCF Conversion-111.66x1.38x2.07x13.27x6.57x
Revenue Growth-13.89%16.75%20.13%36.33%

Revenue by Segment

20232024
Contract Services-1.5B
Contract Services Growth--
Service, Other114.78M125.14M
Service, Other Growth-9.03%

Frequently Asked Questions

Valuation & Price

Kodiak Gas Services, Inc. (KGS) has a price-to-earnings (P/E) ratio of 65.7x. This suggests investors expect higher future growth.

Growth & Financials

Kodiak Gas Services, Inc. (KGS) reported $1.28B in revenue for fiscal year 2024. This represents a 141% increase from $532.4M in 2020.

Kodiak Gas Services, Inc. (KGS) grew revenue by 36.3% over the past year. This is strong growth.

Yes, Kodiak Gas Services, Inc. (KGS) is profitable, generating $75.0M in net income for fiscal year 2024 (4.3% net margin).

Dividend & Returns

Yes, Kodiak Gas Services, Inc. (KGS) pays a dividend with a yield of 4.27%. This makes it attractive for income-focused investors.

Kodiak Gas Services, Inc. (KGS) has a return on equity (ROE) of 4.0%. This is below average, suggesting room for improvement.

Kodiak Gas Services, Inc. (KGS) generated $187.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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