InsiderClue
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
Alert on the numbers Alert on insider trades
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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
38.9% 37.6% 37.2% n/a n/a
31.2% 31.4% 28.7% 21.5% 26.0%
20.2% 19.7% 4.1% 6.5% 8.7%
29.8% 15.0% 2.4% 4.3% 6.2%
7.9% −5.6% 5.5% −0.8% 21.7%
Spending
6.2% 6.3% 8.6% 13.1% 11.0%
33.3% 36.6% 25.8% 29.1% 24.1%
−47.9% 23.7% 42.9% 33.7% 28.1%
Returns
18.8% 46.4% 1.8% 3.6% 6.7%
6.0% 3.3% 0.6% 1.1% 1.9%
Balance and payout
n/a 11.87 1.57 1.88 2.12
n/a 92.9% 64.8% 69.0% 72.0%
0.0% 0.0% 148.5% 268.3% 198.2%
0.0% n/a 64.0% n/a 92.7%