USA Compression Partners, LP (USAC) 10-Year Financial Performance & Capital Metrics

USAC • • Industrial / General

EnergyOilfield ServicesCompression & Processing EquipmentNatural Gas Compression

AboutUSA Compression Partners, LP, a growth-oriented Delaware limited partnership that provides natural gas compression services in terms of total compression fleet horsepower. The company offers compression services to oil companies and independent producers, processors, gatherers, and transporters of natural gas and crude oil, as well as operates stations. It primarily focuses on providing natural gas compression services to infrastructure applications, including centralized natural gas gathering systems and processing facilities. The company was founded in 1998 and is headquartered in Austin, Texas.Show more

Revenue $950M +12.3%
EBITDA $559M +17.0%
Net Income $100M +45.9%
EPS (Diluted) 0.72 +260.0%
Gross Margin 67.52% +1.1%
EBITDA Margin 58.84% +4.1%
Operating Margin 30.98% +13.0%
Net Margin 10.48% +29.9%
ROE 94.47% +276.4%
ROIC 8.69% +25.4%
Debt/Equity 90.78 +606.8%
Interest Coverage 1.52 +11.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 42.0%
✓Strong 5Y profit CAGR of 20.5%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗High debt to equity ratio of 90.8x
✗Dividend payout exceeds 100% of earnings
✗Shares diluted 13.7% in last year
✗Expensive at 106.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.68%

5Y6.36%

3Y14.53%

TTM6.66%

Profit (Net Income) CAGR

10Y14.85%

5Y20.54%

3Y113.17%

TTM25.31%

EPS CAGR

10Y1.84%

5Y-

3Y87.06%

TTM41.39%

ROCE

10Y Avg2.09%

5Y Avg3.59%

3Y Avg9.14%

Latest11.54%

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+	270.55M	265.92M	280.22M	584.35M	698.37M	667.68M	632.64M	704.6M	846.18M	950.45M
Revenue Growth %	0.22%	-0.02%	0.05%	1.09%	0.2%	-0.04%	-0.05%	0.11%	0.2%	0.12%
Cost of Goods Sold+	166.78M	180.5M	191.19M	428.42M	458.75M	202.49M	190.8M	230.69M	280.98M	308.73M
COGS % of Revenue	0.62%	0.68%	0.68%	0.73%	0.66%	0.3%	0.3%	0.33%	0.33%	0.32%
Gross Profit+	103.77M	85.42M	89.03M	155.94M	239.62M	465.19M	441.85M	473.9M	565.2M	641.72M
Gross Margin %	0.38%	0.32%	0.32%	0.27%	0.34%	0.7%	0.7%	0.67%	0.67%	0.68%
Gross Profit Growth %	0.36%	-0.18%	0.04%	0.75%	0.54%	0.94%	-0.05%	0.07%	0.19%	0.14%
Operating Expenses+	40.95M	44.48M	47.48M	69M	71.23M	930.04M	300.97M	304.61M	333.22M	347.27M
OpEx % of Revenue	0.15%	0.17%	0.17%	0.12%	0.1%	1.39%	0.48%	0.43%	0.39%	0.37%
Selling, General & Admin	40.95M	44.48M	47.48M	69M	64.4M	0	0	0	0	0
SG&A % of Revenue	0.15%	0.17%	0.17%	0.12%	0.09%	-	-	-	-	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	22K	35K	27K	41K	6.83M	930.04M	300.97M	304.61M	333.22M	347.27M
Operating Income+	-135.6M	34.41M	37.08M	65.31M	168.38M	-464.85M	140.87M	169.29M	231.98M	294.45M
Operating Margin %	-0.5%	0.13%	0.13%	0.11%	0.24%	-0.7%	0.22%	0.24%	0.27%	0.31%
Operating Income Growth %	-4.61%	1.25%	0.08%	0.76%	1.58%	-3.76%	1.3%	0.2%	0.37%	0.27%
EBITDA+	-50.37M	126.75M	203.64M	279M	399.83M	-225.88M	379.64M	405.97M	478.08M	559.21M
EBITDA Margin %	-0.19%	0.48%	0.73%	0.48%	0.57%	-0.34%	0.6%	0.58%	0.56%	0.59%
EBITDA Growth %	-1.46%	3.52%	0.61%	0.37%	0.43%	-1.56%	2.68%	0.07%	0.18%	0.17%
D&A (Non-Cash Add-back)	85.24M	92.34M	166.56M	213.69M	231.45M	238.97M	238.77M	236.68M	246.1M	264.76M
EBIT	-135.58M	-27.11M	-262.89M	65.35M	168.46M	162.79M	143.41M	172.31M	243.5M	302.73M
Net Interest Income+	-17.61M	0	0	-78.38M	-127.15M	-128.63M	-129.83M	-138.05M	-169.92M	-193.47M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	17.61M	21.09M	25.13M	78.38M	127.15M	128.63M	129.83M	138.05M	169.92M	193.47M
Other Income/Expense	-17.58M	40.19M	-223K	-78.34M	-127.07M	-128.55M	-129.72M	-137.96M	-162.35M	-192.64M
Pretax Income+	-153.19M	13.36M	11.98M	-13.03M	41.32M	-593.4M	11.15M	31.33M	69.63M	101.81M
Pretax Margin %	-0.57%	0.05%	0.04%	-0.02%	0.06%	-0.89%	0.02%	0.04%	0.08%	0.11%
Income Tax+	1.08M	421K	538K	-2.47M	2.19M	1.33M	874K	1.02M	1.36M	2.23M
Effective Tax Rate %	1.01%	0.97%	0.96%	0.81%	0.95%	1%	0.92%	0.97%	0.98%	0.98%
Net Income+	-154.27M	12.94M	11.44M	-10.55M	39.13M	-594.73M	10.28M	30.32M	68.27M	99.58M
Net Margin %	-0.57%	0.05%	0.04%	-0.02%	0.06%	-0.89%	0.02%	0.04%	0.08%	0.1%
Net Income Growth %	-7.18%	1.08%	-0.12%	-1.92%	4.71%	-16.2%	1.02%	1.95%	1.25%	0.46%
Net Income (Continuing)	-154.27M	12.94M	-264.73M	-10.55M	39.13M	-594.73M	10.28M	30.32M	68.27M	99.58M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	9.92M	8.44M	0	0	0	0	0	0	0	0
EPS (Diluted)+	-3.20	0.27	0.16	-0.10	-0.10	-6.14	0.11	0.31	0.20	0.72
EPS Growth %	-6.33%	1.08%	-0.41%	-1.6%	-0.03%	-60.65%	1.02%	1.82%	-0.35%	2.6%
EPS (Basic)	-3.20	0.27	0.16	-0.10	-0.10	-6.14	0.11	0.31	0.21	0.72
Diluted Shares Outstanding	48.16M	55.11M	61.84M	109.26M	96.59M	96.82M	97.07M	97.78M	100.67M	114.5M
Basic Shares Outstanding	48.16M	54.81M	61.55M	109.26M	96.59M	96.82M	97.07M	97.78M	98.63M	113.39M
Dividend Payout Ratio	-	-	9.98%	-	4.96%	-	20.07%	6.84%	3.06%	2.42%

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+	52.97M	72.97M	76.89M	217.74M	230.92M	199.56M	204.99M	186.45M	226.45M	235M
Cash & Short-Term Investments	7K	65K	47K	99K	10K	2K	0	35K	11K	14K
Cash Only	7K	65K	47K	99K	10K	2K	0	35K	11K	14K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	31.49M	41.27M	32.74M	127.04M	136.79M	66.77M	68.25M	83.87M	95.42M	89.11M
Days Sales Outstanding	42.48	56.64	42.65	79.35	71.5	36.5	39.38	43.45	41.16	34.22
Inventory	18.87M	29.56M	33.44M	89.01M	91.92M	84.63M	85.82M	93.75M	114.73M	133.9M
Days Inventory Outstanding	41.3	59.77	63.85	75.83	73.14	152.55	164.17	148.34	149.04	158.31
Other Current Assets	0	0	1.37M	0	2.2M	45.71M	44.9M	8.78M	16.29M	0
Total Non-Current Assets+	1.46B	1.4B	1.42B	3.56B	3.5B	2.75B	2.56B	2.48B	2.51B	2.51B
Property, Plant & Equipment	1.32B	1.27B	1.29B	2.52B	2.5B	2.4B	2.24B	2.19B	2.25B	2.29B
Fixed Asset Turnover	0.21x	0.21x	0.22x	0.23x	0.28x	0.28x	0.28x	0.32x	0.38x	0.42x
Goodwill	35.87M	35.87M	35.87M	619.41M	619.41M	0	0	0	0	0
Intangible Assets	78.77M	75.19M	71.68M	392.55M	363.17M	333.79M	304.41M	275.03M	245.65M	216.27M
Long-Term Investments	17.27M	14.08M	0	6.92M	2.9M	0	0	0	0	0
Other Non-Current Assets	24.12M	20.81M	15.18M	23.46M	12.74M	11.96M	16.07M	13.13M	9.75M	6.62M
Total Assets+	1.51B	1.47B	1.49B	3.77B	3.73B	2.95B	2.77B	2.67B	2.74B	2.75B
Asset Turnover	0.18x	0.18x	0.19x	0.15x	0.19x	0.23x	0.23x	0.26x	0.31x	0.35x
Asset Growth %	-0%	-0.02%	0.01%	1.53%	-0.01%	-0.21%	-0.06%	-0.04%	0.03%	0%
Total Current Liabilities+	61.42M	56.41M	73.77M	149.6M	189.38M	170.27M	187.65M	173.66M	187.5M	190.68M
Accounts Payable	23.84M	13.15M	1.38M	24.2M	21.7M	13.53M	22.54M	35.3M	39.78M	27.25M
Days Payables Outstanding	52.18	26.59	2.64	20.62	17.27	24.39	43.12	55.86	51.68	32.21
Short-Term Debt	0	0	0	0	3.23M	0	0	4.12M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	0	0	1000K	1000K	0
Other Current Liabilities	13.48M	19.67M	33.21M	83.33M	105.47M	92.13M	96.14M	54.16M	63.24M	68.65M
Current Ratio	0.86x	1.29x	1.04x	1.46x	1.22x	1.17x	1.09x	1.07x	1.21x	1.23x
Quick Ratio	0.56x	0.77x	0.59x	0.86x	0.73x	0.67x	0.64x	0.53x	0.60x	0.53x
Cash Conversion Cycle	31.61	89.82	103.85	134.57	127.37	164.66	160.43	135.93	138.52	160.32
Total Non-Current Liabilities+	730.06M	686.48M	784.46M	1.77B	1.88B	1.96B	2B	2.13B	2.37B	2.53B
Long-Term Debt	729.19M	685.37M	782.9M	1.76B	1.85B	1.93B	1.97B	2.11B	2.34B	2.5B
Capital Lease Obligations	0	0	3.2M	2.11M	18.89M	22.23M	19.46M	16.15M	14.73M	12.8M
Deferred Tax Liabilities	0	0	0	0	3.92M	0	0	0	0	0
Other Non-Current Liabilities	874K	1.11M	-779.11M	7.71M	0	14.22M	9.23M	5.47M	15.39M	11.8M
Total Liabilities	791.48M	742.89M	858.23M	1.92B	2.07B	2.13B	2.19B	2.3B	2.55B	2.72B
Total Debt+	729.19M	685.37M	782.9M	1.76B	1.87B	1.95B	2B	2.13B	2.35B	2.52B
Net Debt	729.18M	685.31M	782.86M	1.76B	1.87B	1.95B	2B	2.13B	2.35B	2.52B
Debt / Equity	-	0.93x	1.23x	-	1.13x	2.40x	3.45x	5.89x	12.84x	90.78x
Debt / EBITDA	-	5.41x	3.84x	6.30x	4.69x	-	5.26x	5.24x	4.92x	4.51x
Net Debt / EBITDA	-	5.41x	3.84x	6.30x	4.69x	-	5.26x	5.24x	4.92x	4.51x
Interest Coverage	-7.70x	1.63x	1.48x	0.83x	1.32x	-3.61x	1.09x	1.23x	1.37x	1.52x
Total Equity+	-235.48M	739.07M	635.41M	-821.54M	1.66B	814.96M	578.42M	361.01M	183.05M	27.76M
Equity Growth %	-0.31%	4.14%	-0.14%	-2.29%	3.02%	-0.51%	-0.29%	-0.38%	-0.49%	-0.85%
Book Value per Share	-4.89	13.41	10.28	-7.52	17.16	8.42	5.96	3.69	1.82	0.24
Total Shareholders' Equity	-245.4M	730.63M	635.41M	-821.54M	1.66B	814.96M	578.42M	361.01M	183.05M	27.76M
Common Stock	708.37M	721.08M	1.66B	1.36B	1.17B	323.68M	87.13M	-125.11M	0	-141.05M
Retained Earnings	0	0	0	-2.66B	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-245.4M	-327.97M	-689.87M	-821.54M	13.98M	13.98M	13.98M	8.81M	0	0
Minority Interest	9.92M	8.44M	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+	117.4M	103.7M	124.64M	226.34M	300.58M	293.2M	265.43M	260.59M	271.88M	341.33M
Operating CF Margin %	0.43%	0.39%	0.44%	0.39%	0.43%	0.44%	0.42%	0.37%	0.32%	0.36%
Operating CF Growth %	0.15%	-0.12%	0.2%	0.82%	0.33%	-0.02%	-0.09%	-0.02%	0.04%	0.26%
Net Income	-154.27M	12.94M	11.44M	-10.55M	39.13M	-594.73M	10.28M	30.32M	68.27M	99.58M
Depreciation & Amortization	85.24M	92.34M	98.6M	213.69M	231.45M	238.97M	238.77M	236.68M	246.1M	264.76M
Stock-Based Compensation	3.86M	10.37M	11.71M	11.74M	10.81M	8.4M	15.52M	15.89M	22.17M	16.55M
Deferred Taxes	198.42M	6.53M	4.46M	-2.66M	1.38M	530K	-42K	-151K	-52K	574K
Other Non-Cash Items	1.7M	2.11M	2.19M	27.34M	15.49M	639.75M	9.6M	9.58M	18.25M	21.4M
Working Capital Changes	-17.55M	-20.59M	-3.76M	-13.22M	2.32M	283K	-8.7M	-31.73M	-82.85M	-61.52M
Change in Receivables	-439K	-6.58M	4.15M	-50.03M	-5.66M	23.54M	145K	29.98M	-13.05M	5.68M
Change in Inventory	-14.34M	-16.45M	-13.75M	-6.74M	-25.14M	-11.68M	-12.59M	-31.59M	-76.8M	-101.86M
Change in Payables	-3.31M	-1.98M	-1.84M	-5.14M	-5.76M	-3.75M	9.02M	7.55M	523K	-3.89M
Cash from Investing+	-278.16M	-50.83M	-105.23M	-779.66M	-144.49M	-105.1M	-39.19M	-129.94M	-232.65M	-202.01M
Capital Expenditures	-281.05M	-51.24M	-105.89M	-266.57M	-171.15M	-109.07M	-45.21M	-134.22M	-238.52M	-204.85M
CapEx % of Revenue	1.04%	0.19%	0.38%	0.46%	0.25%	0.16%	0.07%	0.19%	0.28%	0.22%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	2.89M	409K	657K	7.88M	26.66M	1.32M	6.03M	4.28M	5.87M	2.84M
Cash from Financing+	160.76M	-52.81M	-19.43M	549.41M	-156.18M	-188.11M	-226.24M	-130.61M	-39.26M	-139.32M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-45.08M	-87.73M	-114.12M	-166.57M	-242.93M	-253.42M	-255.08M	-256.2M	-257.8M	-265.23M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.6M	-87.87M	110.45M	6.39M	-16.43M	-5.77M	-13.69M	-4.03M	-7.31M	-774.37M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-163.65M	52.46M	18.76M	-40.23M	129.43M	184.13M	220.21M	126.37M	33.36M	136.48M
FCF Margin %	-0.6%	0.2%	0.07%	-0.07%	0.19%	0.28%	0.35%	0.18%	0.04%	0.14%
FCF Growth %	0.42%	1.32%	-0.64%	-3.14%	4.22%	0.42%	0.2%	-0.43%	-0.74%	3.09%
FCF per Share	-3.40	0.95	0.30	-0.37	1.34	1.90	2.27	1.29	0.33	1.19
FCF Conversion (FCF/Net Income)	-0.76x	8.02x	10.90x	-21.45x	7.68x	-0.49x	25.82x	8.60x	3.98x	3.43x
Interest Paid	17.11M	0	0	61.02M	105.36M	120.73M	120.56M	128.96M	163.59M	154.3M
Taxes Paid	282K	0	0	183K	493K	633K	819K	887K	1.15M	1.46M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	5.14%	1.66%	-	9.36%	-48.1%	1.48%	6.45%	25.1%	94.47%
Return on Invested Capital (ROIC)	-22.39%	2.69%	1.96%	4.16%	5.65%	-11.07%	3.96%	5.02%	6.93%	8.69%
Gross Margin	38.36%	32.12%	31.77%	26.69%	34.31%	69.67%	69.84%	67.26%	66.79%	67.52%
Net Margin	-57.02%	4.86%	4.08%	-1.81%	5.6%	-89.07%	1.62%	4.3%	8.07%	10.48%
Debt / Equity	-	0.93x	1.23x	-	1.13x	2.40x	3.45x	5.89x	12.84x	90.78x
Interest Coverage	-7.70x	1.63x	1.48x	0.83x	1.32x	-3.61x	1.09x	1.23x	1.37x	1.52x
FCF Conversion	-0.76x	8.02x	10.90x	-21.45x	7.68x	-0.49x	25.82x	8.60x	3.98x	3.43x
Revenue Growth	22.14%	-1.71%	5.38%	108.53%	19.51%	-4.39%	-5.25%	11.37%	20.09%	12.32%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Contract Operations Revenue	563.42M	681.47M	656.62M	621.45M	688.86M	823.66M	925.24M
Contract Operations Revenue Growth	-	20.95%	-3.65%	-5.36%	10.85%	19.57%	12.33%
Retail Parts And Services	20.94M	16.89M	11.07M	11.2M	15.74M	22.52M	25.21M
Retail Parts And Services Growth	-	-19.31%	-34.49%	1.17%	40.59%	43.05%	11.94%

Frequently Asked Questions

Valuation & Price

USA Compression Partners, LP (USAC) has a price-to-earnings (P/E) ratio of 35.7x. This suggests investors expect higher future growth.

Growth & Financials

USA Compression Partners, LP (USAC) reported $991.5M in revenue for fiscal year 2024. This represents a 904% increase from $98.7M in 2011.

USA Compression Partners, LP (USAC) grew revenue by 12.3% over the past year. This is steady growth.

Yes, USA Compression Partners, LP (USAC) is profitable, generating $109.0M in net income for fiscal year 2024 (10.5% net margin).

Dividend & Returns

Yes, USA Compression Partners, LP (USAC) pays a dividend with a yield of 8.18%. This makes it attractive for income-focused investors.

USA Compression Partners, LP (USAC) has a return on equity (ROE) of 94.5%. This is excellent, indicating efficient use of shareholder capital.

USA Compression Partners, LP (USAC) generated $290.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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