A Business at a Glance
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Kodiak Gas Services, Inc.
KGS
$5.2B
Mkt Cap
$59.08
-9.50%
Kodiak Gas Services, Inc. (KGS) has a current P/E ratio of 66.4, compared to its historical median P/E of 61.7. The stock is currently considered Fair based on its historical valuation range.
Kodiak Gas Services, Inc. (KGS) has a 5-year average return on invested capital (ROIC) of 8.1%. This is below average and may indicate limited pricing power.
Kodiak Gas Services, Inc. (KGS) has a market capitalization of $5.1B. It is classified as a mid-cap stock.
Yes, Kodiak Gas Services, Inc. (KGS) pays a dividend with a trailing twelve-month yield of 3.25%. The company also returns capital through share buybacks, with a buyback yield of 1.84%.
Based on historical P/E analysis, Kodiak Gas Services, Inc. (KGS) appears fair. The current P/E of 66.4 is 8% above its historical median of 61.7. The estimated fair value CAGR (P/E method) is 2.2%.
Kodiak Gas Services, Inc. (KGS) operates in the Natural Gas Transmission industry, within the Utilities sector.
Kodiak Gas Services, Inc. (KGS) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Part I We are a leading provider and operator of large horsepower contract compression infrastructure in the U.S, supporting the critical movement and processing of natural gas across key production regions. Through our wholly-owned subsidiary, Kodiak Services, formed in 2011, we have built and operated a substantial fleet of high-reliability compression assets for more than a decade. On July 3, 2023, we completed our IPO and our common stock is currently trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “KGS.” Our business is centered on long‑term customer relationships, operational excellence, and disciplined capital deployment, positioning us to deliver stable performance while supporting the essential infrastructure needs of the domestic energy industry. Our business is managed through the following two operating segments: Contract Services and Other Services.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.2B | 850M | 708M | 606M |
| Net Income | 66M | 79M | 48M | 20M | 106M | 181M |
| EPS | $0.76 | $0.89 | $0.56 | $0.29 | $1.80 | $3.07 |
| Free Cash Flow | 200M | 284M | -9.0M | 47M | -40M | 48M |
| ROIC | 6.8% | 6.3% | 4.8% | 5.0% | 7.6% | 17.0% |
| Gross Margin | - | 63.3% | 60.5% | 37.2% | 37.6% | 38.9% |
| Debt/Equity | 2.37 | 2.16 | 1.92 | 1.60 | 11.92 | 0.59 |
| Dividends/Share | $1.92 | $1.80 | $1.58 | $0.38 | $0.00 | $0.00 |
| Operating Income | 358M | 340M | 249M | 244M | 222M | 189M |
| Operating Margin | 27.0% | 26.0% | 21.5% | 28.7% | 31.4% | 31.2% |
| ROE | 5.6% | 6.1% | 3.8% | 2.9% | 17.9% | 21.1% |
| Shares Outstanding | 86M | 88M | 86M | 69M | 59M | 59M |
| Metric | ||||||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 606M | 708M | 850M | 1.2B | 1.3B | 1.3B |
| Gross Margin | 38.9% | 37.6% | 37.2% | 60.5% | 63.3% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 38M | 45M | 73M | 152M | 144M | 158M |
| EBIT | 189M | 222M | 244M | 249M | 340M | 358M |
| Op. Margin | 31.2% | 31.4% | 28.7% | 21.5% | 26.0% | 27.0% |
| Net Income | 181M | 106M | 20M | 48M | 79M | 66M |
| Net Margin | 29.8% | 15.0% | 2.4% | 4.1% | 6.0% | 5.0% |
| Non-Recurring | -426K | 874K | 777K | -30M | -62M | -62M |
| Returns on Capital | ||||||
| ROIC | 17.0% | 7.6% | 5.0% | 4.8% | 6.3% | 6.8% |
| ROE | 21.1% | 17.9% | 2.9% | 3.8% | 6.1% | 5.6% |
| ROA | 6.0% | 3.4% | 0.6% | 1.3% | 1.8% | 1.5% |
| Cash Flow | ||||||
| Op. Cash Flow | 250M | 220M | 266M | 328M | 600M | 557M |
| Free Cash Flow | 48M | -40M | 47M | -9.0M | 284M | 200M |
| Owner Earnings | 89M | 44M | 78M | 50M | 299M | 259M |
| CapEx | 202M | 259M | 220M | 337M | 315M | 356M |
| Maint. CapEx | 160M | 174M | 183M | 260M | 276M | 274M |
| Growth CapEx | 42M | 85M | 37M | 77M | 39M | 82M |
| D&A | 160M | 174M | 183M | 260M | 276M | 274M |
| CapEx/OCF | N/A | N/A | 82.5% | 102.7% | 52.6% | 64.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 30M | 134M | 160M | 166M |
| Dividend Yield | N/A | N/A | 2.7% | 5.9% | 5.1% | 3.3% |
| Share Buybacks | 0 | 0 | 0 | 40M | 104M | 94M |
| Buyback Yield | N/A | N/A | N/A | 1.2% | 3.2% | 1.8% |
| Stock-Based Comp | 1.2M | 971K | 5.9M | 18M | 25M | 23M |
| Debt Repayment | 629M | 725M | 1.2B | 2.5B | 2.9B | 2.9B |
| Balance Sheet | ||||||
| Net Debt | 535M | 2.7B | 1.8B | 2.6B | 2.6B | 2.7B |
| Cash & Equiv. | 29M | 20M | 5.6M | 4.8M | 3.2M | 94M |
| Long-Term Debt | 564M | 2.7B | 1.8B | 2.6B | 2.6B | 2.8B |
| Debt/Equity | 0.59 | 11.92 | 1.60 | 1.92 | 2.16 | 2.37 |
| Interest Coverage | 2.2 | 1.3 | 1.1 | 1234.9 | 622.7 | 13.0 |
| Equity | 960M | 229M | 1.1B | 1.4B | 1.2B | 1.2B |
| Total Assets | 3.0B | 3.2B | 3.2B | 4.4B | 4.3B | 4.5B |
| Total Liabilities | 2.1B | 3.0B | 2.1B | 3.1B | 3.1B | 3.3B |
| Intangibles | N/A | 132M | 123M | 163M | 154M | 150M |
| Retained Earnings | N/A | 195M | 178M | 94M | 13M | -12M |
| Working Capital | N/A | 15M | 20M | 64M | -63M | 100M |
| Current Assets | N/A | 204M | 231M | 384M | 323M | 460M |
| Current Liabilities | N/A | 189M | 211M | 319M | 386M | 360M |
| Per Share Data | ||||||
| EPS | 3.07 | 1.80 | 0.29 | 0.56 | 0.89 | 0.76 |
| Owner EPS | 1.50 | 0.75 | 1.12 | 0.58 | 3.39 | 3.00 |
| Book Value | 16.29 | 3.88 | 16.51 | 16.00 | 13.69 | 13.62 |
| Cash Flow/Share | 4.24 | 3.72 | 3.85 | 3.82 | 6.80 | 3.94 |
| Dividends/Share | 0.00 | 0.00 | 0.38 | 1.58 | 1.80 | 1.92 |
| Shares Out. | 58.9M | 59.0M | 69.2M | 85.9M | 88.2M | 86.3M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | 61.7 | 68.1 | 40.4 | 77.9 |
| P/FCF | N/A | N/A | 26.6 | N/A | 11.2 | 25.5 |
| EV/EBIT | N/A | N/A | 12.4 | 23.9 | 17.1 | 21.8 |
| Price/Book | N/A | N/A | 1.1 | 2.5 | 2.7 | 4.3 |
| Price/Sales | N/A | N/A | 1.3 | 2.0 | 2.4 | 3.9 |
| FCF Yield | N/A | N/A | 3.8% | -0.3% | 8.7% | 3.9% |
| Market Cap | N/A | N/A | 1.2B | 3.4B | 3.3B | 5.1B |
| Avg. Price | N/A | N/A | 15.67 | 26.37 | 35.23 | 59.08 |
| Year-End Price | N/A | N/A | 17.89 | 38.11 | 36.00 | 59.08 |
Kodiak Gas Services, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
Kodiak Gas Services, Inc. trades at 66.4x trailing earnings, compared to its 15-year median P/E of 61.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 17.8x vs a median of 18.9x. The company's 5-year average ROIC is 8.1% with a gross margin of 47.5%. Total shareholder yield (dividends + buybacks) is 5.1%. At current prices, the estimated annualized return to fair value is +40.1%.
Kodiak Gas Services, Inc. (KGS) has a net profit margin of 6.0%. This is a modest margin.
Kodiak Gas Services, Inc. (KGS) generated $284 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Kodiak Gas Services, Inc. (KGS) has a debt-to-equity ratio of 2.16. This indicates higher leverage, which may increase financial risk.
Kodiak Gas Services, Inc. (KGS) reported earnings per share (EPS) of $0.89 in its most recent fiscal year.
Kodiak Gas Services, Inc. (KGS) has a return on equity (ROE) of 6.1%. This indicates moderate shareholder returns.
Kodiak Gas Services, Inc. (KGS) has a 5-year average gross margin of 47.5%. This indicates decent pricing power.
The Ledger Terminal provides 5 years of financial data for Kodiak Gas Services, Inc. (KGS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Kodiak Gas Services, Inc. (KGS) has a book value per share of $13.69, based on its most recent annual SEC filing.