Natural Gas Services Group, Inc. (NGS) 10-Year Financial Performance & Capital Metrics

NGS • • Industrial / General

EnergyOilfield ServicesCompression & Processing EquipmentNatural Gas Compression

AboutNatural Gas Services Group, Inc. provides natural gas compression services and equipment to the energy industry in the United States. It fabricates, manufactures, rents, and sells natural gas compressors and related equipment. The company primarily engages in the rental of compression units that provide small, medium, and large horsepower applications for unconventional oil and natural gas production. As of December 31, 2021, the company had 2,023 natural gas compression units in its rental fleet with 418,041 horsepower. The company also engages in the design, fabrication, and assembly of compressor components into compressor units for rental or sale; engineers and fabricates natural gas compressors; and designs and manufactures a line of reciprocating compressor frames, cylinders, and parts. In addition, it is involved in the design, fabrication, sale, installation, and service of flare stacks and related ignition and control devices for the onshore and offshore incineration of gas compounds, such as hydrogen sulfide, carbon dioxide, natural gas, and liquefied petroleum gases. Further, the company offers customer support services for its compressor and flare sales business; and exchange and rebuild program for small horsepower screw compressors. Its primary customers are exploration and production(E&P) companies that utilize compressor units for artificial lift applications; E&P companies that focuses on natural gas-weighted production; and midstream companies. Natural Gas Services Group, Inc. was incorporated in 1998 and is headquartered in Midland, Texas.Show more

Revenue $157M +29.4%
EBITDA $65M +74.8%
Net Income $17M +262.9%
EPS (Diluted) 1.37 +260.5%
Gross Margin 36.14% +36.1%
EBITDA Margin 41.26% +35.1%
Operating Margin 21.26% +146.4%
Net Margin 10.99% +180.5%
ROE 7.02% +244.4%
ROIC 6.09% +152.3%
Debt/Equity 0.67 -4.8%
Interest Coverage 2.79 +9.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Momentum leader: RS Rating 84 (top 16%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 14.8%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.9%
✗Negative free cash flow
✗Thin 5Y average net margin of 0.8%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y4.92%

5Y14.85%

3Y29.35%

TTM9.53%

Profit (Net Income) CAGR

10Y2%

5Y-

3Y-

TTM16.35%

EPS CAGR

10Y2.13%

5Y-

3Y-

TTM14.73%

ROCE

10Y Avg1.24%

5Y Avg0.94%

3Y Avg3.4%

Latest7.24%

Peer Comparison

Natural Gas Compression

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KGSKodiak Gas Services, Inc.	3.15B	36.79	65.70	36.33%	5.84%	5.98%		1.93
USACUSA Compression Partners, LP	3.16B	25.73	35.74	12.32%	10.99%	94.47%	4.32%	90.78
NGSNatural Gas Services Group, Inc.	429.86M	34.20	24.96	29.36%	11.2%	6.89%		0.67
AROCArchrock, Inc.	4.59B	26.18	24.93	16.89%	18.43%	18.65%	1.54%	1.67

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	95.92M	71.65M	67.69M	65.48M	78.44M	68.06M	72.42M	84.83M	121.17M	156.74M
Revenue Growth %	-0.01%	-0.25%	-0.06%	-0.03%	0.2%	-0.13%	0.06%	0.17%	0.43%	0.29%
Cost of Goods Sold+	65.41M	53.67M	56.05M	55.74M	67.58M	60.63M	70.76M	70.47M	89M	100.1M
COGS % of Revenue	0.68%	0.75%	0.83%	0.85%	0.86%	0.89%	0.98%	0.83%	0.73%	0.64%
Gross Profit+	30.51M	17.99M	11.65M	9.73M	10.87M	7.43M	1.66M	14.35M	32.16M	56.64M
Gross Margin %	0.32%	0.25%	0.17%	0.15%	0.14%	0.11%	0.02%	0.17%	0.27%	0.36%
Gross Profit Growth %	-0.06%	-0.41%	-0.35%	-0.16%	0.12%	-0.32%	-0.78%	7.66%	1.24%	0.76%
Operating Expenses+	15.36M	9.56M	10.08M	9.1M	15.98M	11.03M	14.07M	13.92M	21.71M	23.31M
OpEx % of Revenue	0.16%	0.13%	0.15%	0.14%	0.2%	0.16%	0.19%	0.16%	0.18%	0.15%
Selling, General & Admin	10.99M	9.01M	10.08M	9.1M	10.71M	10.55M	10.76M	13.89M	16.94M	21.01M
SG&A % of Revenue	0.11%	0.13%	0.15%	0.14%	0.14%	0.16%	0.15%	0.16%	0.14%	0.13%
Research & Development	125K	125K	125K	125K	125K	0	0	0	100K	0
R&D % of Revenue	0%	0%	0%	0%	0%	-	-	-	0%	-
Other Operating Expenses	132K	43K	50K	182K	5.14M	475K	3.3M	29K	4.67M	2.3M
Operating Income+	15.15M	8.43M	1.57M	638K	-4.5M	-3.6M	-12.41M	431K	10.46M	33.33M
Operating Margin %	0.16%	0.12%	0.02%	0.01%	-0.06%	-0.05%	-0.17%	0.01%	0.09%	0.21%
Operating Income Growth %	-0.31%	-0.44%	-0.81%	-0.59%	-8.06%	0.2%	-2.45%	1.03%	23.26%	2.19%
EBITDA+	37.91M	30.23M	22.87M	22.72M	18.77M	21.6M	12.99M	24.55M	37.01M	64.67M
EBITDA Margin %	0.4%	0.42%	0.34%	0.35%	0.24%	0.32%	0.18%	0.29%	0.31%	0.41%
EBITDA Growth %	-0.13%	-0.2%	-0.24%	-0.01%	-0.17%	0.15%	-0.4%	0.89%	0.51%	0.75%
D&A (Non-Cash Add-back)	22.76M	21.8M	21.3M	22.08M	23.27M	25.2M	25.4M	24.12M	26.55M	31.35M
EBIT	15.28M	8.47M	1.62M	-325K	-14.54M	-2.97M	-11.72M	323K	10.7M	33.59M
Net Interest Income+	-15K	-8K	-14K	-69K	-15K	-14K	-65K	-364K	-4.08M	-11.93M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	15K	8K	14K	69K	15K	14K	65K	364K	4.08M	11.93M
Other Income/Expense	117K	35K	36K	113K	596K	615K	622K	-472K	-3.84M	-11.66M
Pretax Income+	15.26M	8.46M	1.6M	751K	-14.56M	-2.98M	-11.79M	-41K	6.62M	21.67M
Pretax Margin %	0.16%	0.12%	0.02%	0.01%	-0.19%	-0.04%	-0.16%	-0%	0.05%	0.14%
Income Tax+	5.12M	2M	-18.25M	325K	-693K	-4.79M	-2.6M	528K	1.87M	4.44M
Effective Tax Rate %	0.66%	0.76%	12.38%	0.57%	0.95%	-0.61%	0.78%	13.88%	0.72%	0.8%
Net Income+	10.15M	6.47M	19.85M	426K	-13.86M	1.81M	-9.18M	-569K	4.75M	17.23M
Net Margin %	0.11%	0.09%	0.29%	0.01%	-0.18%	0.03%	-0.13%	-0.01%	0.04%	0.11%
Net Income Growth %	-0.28%	-0.36%	2.07%	-0.98%	-33.54%	1.13%	-6.08%	0.94%	9.34%	2.63%
Net Income (Continuing)	10.15M	6.47M	19.85M	-466K	-13.86M	1.81M	-9.18M	-569K	4.75M	17.23M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.79	0.50	1.51	0.03	-1.06	0.14	-0.70	-0.05	0.38	1.37
EPS Growth %	-0.29%	-0.37%	2.02%	-0.98%	-33.22%	1.13%	-6%	0.93%	9.23%	2.61%
EPS (Basic)	0.81	0.51	1.54	0.03	-1.06	0.14	-0.70	-0.05	0.39	1.39
Diluted Shares Outstanding	12.79M	12.94M	13.11M	12.96M	13.11M	13.26M	13.1M	12.3M	12.38M	12.55M
Basic Shares Outstanding	12.57M	12.7M	12.83M	12.96M	13.11M	13.22M	13.1M	12.3M	12.32M	12.41M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	73.2M	99.76M	108.23M	96.4M	42.41M	72.72M	65.1M	54.15M	76.27M	48.18M
Cash & Short-Term Investments	35.53M	64.09M	69.21M	52.63M	11.59M	28.93M	22.94M	3.37M	2.75M	2.14M
Cash Only	35.53M	64.09M	69.21M	52.63M	11.59M	28.93M	22.94M	3.37M	2.75M	2.14M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.11M	7.38M	8.53M	7.22M	9.11M	11.88M	21.93M	26.21M	50.72M	26.91M
Days Sales Outstanding	34.65	37.58	46.02	40.24	42.37	63.74	110.51	112.76	152.8	62.66
Inventory	27.72M	25.83M	26.22M	30.97M	21.08M	19.93M	19.33M	23.41M	21.64M	18.05M
Days Inventory Outstanding	154.69	175.69	170.79	202.81	113.86	119.96	99.7	121.27	88.74	65.82
Other Current Assets	762K	972K	817K	3.19M	40K	11.6M	854K	1.15M	1.16M	1.07M
Total Non-Current Assets+	212.35M	193.76M	190.08M	209M	244.16M	234.08M	241.38M	274.1M	402.46M	444.35M
Property, Plant & Equipment	200.46M	181.81M	174.75M	192.47M	240.22M	229.82M	228.1M	268.98M	394.2M	438.01M
Fixed Asset Turnover	0.48x	0.39x	0.39x	0.34x	0.33x	0.30x	0.32x	0.32x	0.31x	0.36x
Goodwill	10.04M	10.04M	10.04M	10.04M	0	0	0	0	0	0
Intangible Assets	1.78M	1.65M	1.53M	1.4M	1.28M	1.15M	1.02M	900K	775K	0
Long-Term Investments	-56.46M	-53.74M	-32.16M	-32.16M	-31.24M	-41.89M	0	-8.82M	0	0
Other Non-Current Assets	73K	262K	3.77M	5.09M	2.67M	3.12M	4.28M	-26.75M	7.48M	6.34M
Total Assets+	285.55M	293.52M	298.31M	305.4M	286.58M	306.8M	306.49M	328.25M	478.73M	492.53M
Asset Turnover	0.34x	0.24x	0.23x	0.21x	0.27x	0.22x	0.24x	0.26x	0.25x	0.32x
Asset Growth %	0.01%	0.03%	0.02%	0.02%	-0.06%	0.07%	-0%	0.07%	0.46%	0.03%
Total Current Liabilities+	4.57M	6.5M	7.45M	10.95M	5.51M	10.86M	20.28M	30.4M	32.71M	17.36M
Accounts Payable	1.23M	971K	4.16M	2.12M	1.98M	2.37M	4.79M	6.48M	17.63M	9.67M
Days Payables Outstanding	6.84	6.6	27.11	13.89	10.67	14.29	24.73	33.57	72.29	35.26
Short-Term Debt	0	417K	0	0	417K	417K	68K	0	0	0
Deferred Revenue (Current)	271K	1000K	185K	81K	640K	1000K	1000K	37K	0	0
Other Current Liabilities	0	0	0	0	0	0	14.1M	19.25M	1.77M	3.48M
Current Ratio	16.03x	15.35x	14.52x	8.81x	7.70x	6.70x	3.21x	1.78x	2.33x	2.78x
Quick Ratio	9.96x	11.37x	11.00x	5.98x	3.87x	4.86x	2.26x	1.01x	1.67x	1.74x
Cash Conversion Cycle	182.5	206.67	189.7	229.16	145.56	169.41	185.48	200.46	169.25	93.22
Total Non-Current Liabilities+	57M	54.07M	33.54M	34.27M	33.38M	44.4M	50.3M	67.77M	210.12M	220.11M
Long-Term Debt	417K	0	417K	417K	0	0	0	25M	164M	170M
Capital Lease Obligations	0	0	0	0	415K	285K	217K	194K	896K	0
Deferred Tax Liabilities	56.46M	53.74M	32.16M	32.16M	31.24M	0	47.27M	39.8M	41.64M	45.87M
Other Non-Current Liabilities	129K	325K	33.12M	1.7M	1.72M	2.22M	2.81M	2.78M	3.59M	4.24M
Total Liabilities	61.57M	60.57M	40.99M	45.22M	38.88M	55.26M	70.58M	98.17M	242.84M	237.47M
Total Debt+	417K	417K	417K	417K	1.02M	900K	285K	25.35M	165.26M	170.15M
Net Debt	-35.12M	-63.68M	-68.79M	-52.21M	-10.57M	-28.02M	-22.66M	21.98M	162.51M	168.01M
Debt / Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.11x	0.70x	0.67x
Debt / EBITDA	0.01x	0.01x	0.02x	0.02x	0.05x	0.04x	0.02x	1.03x	4.47x	2.63x
Net Debt / EBITDA	-0.93x	-2.11x	-3.01x	-2.30x	-0.56x	-1.30x	-1.74x	0.90x	4.39x	2.60x
Interest Coverage	1009.80x	1053.75x	111.93x	9.25x	-300.20x	-257.07x	-190.89x	1.18x	2.56x	2.79x
Total Equity+	223.98M	232.95M	257.32M	260.18M	247.69M	251.54M	235.91M	230.08M	235.89M	255.06M
Equity Growth %	0.06%	0.04%	0.1%	0.01%	-0.05%	0.02%	-0.06%	-0.02%	0.03%	0.08%
Book Value per Share	17.51	18.01	19.63	20.07	18.89	18.97	18.01	18.70	19.05	20.32
Total Shareholders' Equity	223.98M	232.95M	257.32M	260.18M	247.69M	251.54M	235.91M	230.08M	235.89M	255.06M
Common Stock	126K	128K	129K	130K	132K	133K	134K	135K	137K	138K
Retained Earnings	125.55M	132.01M	151.87M	152.29M	137.48M	139.29M	130.1M	129.53M	134.28M	151.51M
Treasury Stock	0	0	0	0	-490K	-490K	-8.34M	-15M	-15M	-15M
Accumulated OCI	-122.12M	-137.36M	-157.13M	-176.98M	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	41.61M	32.77M	17.45M	23.41M	29.41M	32.65M	28.29M	27.76M	18.03M	65.5M
Operating CF Margin %	0.43%	0.46%	0.26%	0.36%	0.37%	0.48%	0.39%	0.33%	0.15%	0.42%
Operating CF Growth %	0.2%	-0.21%	-0.47%	0.34%	0.26%	0.11%	-0.13%	-0.02%	-0.35%	2.63%
Net Income	10.15M	6.47M	19.85M	426K	-13.86M	1.81M	-9.18M	-569K	4.75M	17.23M
Depreciation & Amortization	22.76M	21.8M	21.3M	22.05M	23.27M	25.2M	25.4M	24.12M	26.98M	31.35M
Stock-Based Compensation	3.54M	2.3M	4.04M	2.38M	2.58M	2.19M	0	1.91M	2.05M	0
Deferred Taxes	-1.85M	-2.71M	-21.58M	-5K	-662K	0	-2.6M	511K	0	4.24M
Other Non-Cash Items	4.87M	1.07M	209K	-100K	15.7M	5M	4.42M	466K	9.77M	4.18M
Working Capital Changes	2.13M	3.85M	-6.37M	-1.34M	2.39M	-1.55M	10.26M	1.33M	-25.51M	8.51M
Change in Receivables	824K	1.67M	-1.25M	1.5M	-2.55M	-3.11M	1.43M	-4.28M	-25.01M	23.13M
Change in Inventory	5.38M	2.12M	-5.35M	-5.76M	8.26M	1.03M	-1.28M	-4.14M	-669K	2.48M
Change in Payables	-7.22M	-439K	3.41M	3.6M	-3.94M	0	9.76M	0	0	-17.73M
Cash from Investing+	-12.31M	-4.4M	-12.79M	-40.01M	-70.17M	-15.16M	-25.66M	-65.08M	-153.89M	-71.44M
Capital Expenditures	-12.5M	-4.31M	-13.49M	-39.79M	-69.94M	-15.26M	-25.71M	-65.12M	-153.94M	-71.89M
CapEx % of Revenue	0.13%	0.06%	0.2%	0.61%	0.89%	0.22%	0.36%	0.77%	1.27%	0.46%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	189K	-93K	698K	-220K	-267K	98K	-150K	43K	55K	-22K
Cash from Financing+	55K	191K	453K	16K	-273K	-157K	-8.61M	17.75M	135.23M	5.33M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	55K	191K	453K	16K	-289K	-5K	-337K	-592K	-2.79M	-958K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	29.11M	28.46M	3.96M	-16.38M	-40.53M	17.39M	2.58M	-37.36M	-135.91M	-6.39M
FCF Margin %	0.3%	0.4%	0.06%	-0.25%	-0.52%	0.26%	0.04%	-0.44%	-1.12%	-0.04%
FCF Growth %	2.55%	-0.02%	-0.86%	-5.13%	-1.47%	1.43%	-0.85%	-15.48%	-2.64%	0.95%
FCF per Share	2.28	2.20	0.30	-1.26	-3.09	1.31	0.20	-3.04	-10.98	-0.51
FCF Conversion (FCF/Net Income)	4.10x	5.07x	0.88x	54.96x	-2.12x	18.06x	-3.08x	-48.79x	3.80x	3.80x
Interest Paid	15K	8K	14K	14K	39K	14K	0	276K	7.05M	0
Taxes Paid	6.53M	5.83M	3.73M	85K	275K	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.67%	2.83%	8.1%	0.16%	-5.46%	0.72%	-3.77%	-0.24%	2.04%	7.02%
Return on Invested Capital (ROIC)	5.77%	3.53%	0.66%	0.24%	-1.52%	-1.17%	-4.26%	0.14%	2.41%	6.09%
Gross Margin	31.8%	25.1%	17.21%	14.87%	13.85%	10.91%	2.29%	16.92%	26.54%	36.14%
Net Margin	10.58%	9.03%	29.33%	0.65%	-17.67%	2.66%	-12.68%	-0.67%	3.92%	10.99%
Debt / Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.11x	0.70x	0.67x
Interest Coverage	1009.80x	1053.75x	111.93x	9.25x	-300.20x	-257.07x	-190.89x	1.18x	2.56x	2.79x
FCF Conversion	4.10x	5.07x	0.88x	54.96x	-2.12x	18.06x	-3.08x	-48.79x	3.80x	3.80x
Revenue Growth	-1.09%	-25.3%	-5.53%	-3.27%	19.8%	-13.24%	6.41%	17.13%	42.84%	29.36%

Revenue by Segment

	2012	2013	2018	2019	2020	2021	2022	2023	2024
Product Sales	-	-	-	-	-	-	-	-	7.61M
Product Sales Growth	-	-	-	-	-	-	-	-	-
Other Parts Rebuilds	-	-	2.74M	3.62M	2.96M	4.63M	4.73M	7.03M	5.86M
Other Parts Rebuilds Growth	-	-	-	32.08%	-18.29%	56.44%	2.20%	48.77%	-16.65%
Aftermarket Services	-	-	-	-	-	-	-	6.09M	4.89M
Aftermarket Services Growth	-	-	-	-	-	-	-	-	-19.62%
Compressor Related	-	-	10.99M	15.19M	2.21M	1.89M	3.6M	1.8M	1.75M
Compressor Related Growth	-	-	-	38.12%	-85.44%	-14.47%	90.43%	-50.01%	-3.00%
Flares Related	-	-	2.54M	959K	489K	365K	239K	87K	4K
Flares Related Growth	-	-	-	-62.17%	-49.01%	-25.36%	-34.52%	-63.60%	-95.40%
Service And Maintenance	-	-	20.54M	1.98M	1.57M	1.91M	1.79M	-	-
Service And Maintenance Growth	-	-	-	-90.36%	-20.61%	21.76%	-6.37%	-	-
Operating, Rental	56.48M	69.06M	-	-	-	-	-	-	-
Operating, Rental Growth	-	22.28%	-	-	-	-	-	-	-
Operating, Sales	36.38M	19.48M	-	-	-	-	-	-	-
Operating, Sales Growth	-	-46.45%	-	-	-	-	-	-	-
Operating, Service and Maintenance	870K	707K	-	-	-	-	-	-	-
Operating, Service and Maintenance Growth	-	-18.74%	-	-	-	-	-	-	-
Corporate	-	-	-	-	-	-	-	-	-
Corporate Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Natural Gas Services Group, Inc. (NGS) has a price-to-earnings (P/E) ratio of 25.0x. This is roughly in line with market averages.

Growth & Financials

Natural Gas Services Group, Inc. (NGS) reported $166.8M in revenue for fiscal year 2024. This represents a 156% increase from $65.2M in 2011.

Natural Gas Services Group, Inc. (NGS) grew revenue by 29.4% over the past year. This is strong growth.

Yes, Natural Gas Services Group, Inc. (NGS) is profitable, generating $18.7M in net income for fiscal year 2024 (11.0% net margin).

Dividend & Returns

Natural Gas Services Group, Inc. (NGS) has a return on equity (ROE) of 7.0%. This is below average, suggesting room for improvement.

Natural Gas Services Group, Inc. (NGS) had negative free cash flow of $44.3M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...