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Stocks · Energy · Natural Gas Transmission

Kodiak Gas Services, Inc.

KGS Clue Score57
United States Fiscal year ends December CIK 0001767042
$53.47 -0.19% Close, 9 Oct 2026
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Price $53.47 +201.75% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 29 Jun 2023. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2021Revenue606.4Operating income189.0Net income181.0EPS, diluted3.07Fiscal year 2022Revenue707.9 +16.7%Operating income222.1Net income106.3 −41.3%EPS, diluted1.80 −41.4%Fiscal year 2023Revenue850.4 +20.1%Operating income244.1Net income20.1 −81.1%EPS, diluted0.29 −83.9%Fiscal year 2024Revenue1,159.3 +36.3%Operating income249.5Net income49.9 +148.7%EPS, diluted0.56 +93.1%Fiscal year 2025Revenue1,308.1 +12.8%Operating income340.0Net income80.5 +61.4%EPS, diluted0.89 +58.9%
FY2021FY2022FY2023FY2024FY2025
Revenue 606.4 707.9 850.4 1,159.3 1,308.1
Growth +16.7% +20.1% +36.3% +12.8%
Operating income 189.0 222.1 244.1 249.5 340.0
Net income 181.0 106.3 20.1 49.9 80.5
Growth −41.3% −81.1% +148.7% +61.4%
EPS, diluted 3.07 1.80 0.29 0.56 0.89
Growth −41.4% −83.9% +93.1% +58.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2021Gross margin38.9%Operating margin31.2%Net margin29.8%Free cash flow margin7.9%Fiscal year 2022Gross margin37.6%Operating margin31.4%Net margin15.0%Free cash flow margin−5.6%Fiscal year 2023Gross margin37.2%Operating margin28.7%Net margin2.4%Free cash flow margin5.5%Fiscal year 2024Operating margin21.5%Net margin4.3%Free cash flow margin−0.8%Fiscal year 2025Operating margin26.0%Net margin6.2%Free cash flow margin21.7%
FY2021FY2022FY2023FY2024FY2025
Gross margin 38.9% 37.6% 37.2% n/a n/a
Operating margin 31.2% 31.4% 28.7% 21.5% 26.0%
Net margin 29.8% 15.0% 2.4% 4.3% 6.2%
Free cash flow margin 7.9% −5.6% 5.5% −0.8% 21.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2021Operating cash flow250.0Capital expenditure−201.9Free cash flow48.0Dividends paid0.0Fiscal year 2022Operating cash flow219.8Capital expenditure−259.3Free cash flow−39.5 −182.2%Buybacks0.0Dividends paid0.0Fiscal year 2023Operating cash flow266.3Capital expenditure−219.8Free cash flow46.5Buybacks0.0Dividends paid−29.8Fiscal year 2024Operating cash flow328.0Capital expenditure−337.0Free cash flow−9.0 −119.3%Buybacks−40.0Dividends paid−133.9Fiscal year 2025Operating cash flow599.7Capital expenditure−315.5Free cash flow284.3Buybacks−104.0Dividends paid−159.6
FY2021FY2022FY2023FY2024FY2025
Operating cash flow 250.0 219.8 266.3 328.0 599.7
Capital expenditure −201.9 −259.3 −219.8 −337.0 −315.5
Free cash flow 48.0 −39.5 46.5 −9.0 284.3
Growth −182.2% −119.3%
Buybacks n/a 0.0 0.0 −40.0 −104.0
Dividends paid 0.0 0.0 −29.8 −133.9 −159.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2021Cash28.8Shareholders’ equity960.1Fiscal year 2022Cash20.4Total debt2,720.0Net cash (debt)−2,699.6Shareholders’ equity229.1Debt to equity11.87Fiscal year 2023Cash5.6Total debt1,791.5Net cash (debt)−1,785.9Shareholders’ equity1,142.7Debt to equity1.57Fiscal year 2024Cash4.8Total debt2,581.9Net cash (debt)−2,577.2Shareholders’ equity1,373.6Debt to equity1.88Fiscal year 2025Cash3.2Total debt2,555.3Net cash (debt)−2,552.1Shareholders’ equity1,207.4Debt to equity2.12
FY2021FY2022FY2023FY2024FY2025
Cash 28.8 20.4 5.6 4.8 3.2
Total debt n/a 2,720.0 1,791.5 2,581.9 2,555.3
Net cash (debt) n/a −2,699.6 −1,785.9 −2,577.2 −2,552.1
Shareholders’ equity 960.1 229.1 1,142.7 1,373.6 1,207.4
Debt to equity n/a 11.87 1.57 1.88 2.12

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
606.4 707.9 850.4 1,159.3 1,308.1
Growth +16.7% +20.1% +36.3% +12.8%
236.2 266.1 316.6 n/a n/a
Growth +12.7% +19.0%
37.7 44.9 73.3 151.7 144.1
189.0 222.1 244.1 249.5 340.0
Growth +17.5% +9.9% +2.2% +36.3%
122.4 139.4 35.1 75.9 113.5
−58.6 33.1 15.1 25.6 31.9
181.0 106.3 20.1 49.9 80.5
Growth −41.3% −81.1% +148.7% +61.4%
Per share
3.07 1.80 0.29 0.58 0.90
3.07 1.80 0.29 0.56 0.89
Growth −41.4% −83.9% +93.1% +58.9%
59.0 59.0 68.1 83.1 87.2
59.0 59.0 68.3 85.2 88.5
Growth +0.0% +15.8% +24.7% +3.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Profitable in every one of the 5 years on file.