Kodiak Gas Services Inc Financials
Kodiak Gas Services Inc (KGS) reported $1.4B in revenue over the twelve months to Jun 30, 2026, up 8.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash conversion is improving, but elevated leverage and a sub-1.0x current ratio keep financing central to the operating model.
In FY2025, operating cash flow reached$600M against net income of$81M , so reported earnings understated cash generation; depreciation and working-capital movements were important to conversion. Receivables fell by$56M from FY2024 to FY2025 while free cash flow reached$284M , pointing to a working-capital contribution even as reinvestment remained substantial.
Gross margin widened from
Debt-to-equity was 2.1x in FY2025, above FY2024's 1.9x. The current ratio moved from 1.2x to 0.8x over the same span, so improved cash generation did not translate into stronger short-term coverage.
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Kodiak Gas Services Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kodiak Gas Services Inc scores 1.67, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($5.8B) relative to total liabilities ($3.1B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Kodiak Gas Services Inc passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Kodiak Gas Services Inc generates $7.45 in operating cash flow ($599.7M OCF vs $80.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Kodiak Gas Services Inc generated $1.3B in revenue in fiscal year 2025. This represents an increase of 12.8% from the prior year.
Kodiak Gas Services Inc's EBITDA was $616.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 20.9% from the prior year.
Kodiak Gas Services Inc reported $80.5M in net income in fiscal year 2025. This represents an increase of 61.4% from the prior year.
Kodiak Gas Services Inc earned $0.89 per diluted share (EPS) in fiscal year 2025. This represents an increase of 58.9% from the prior year.
Cash & Balance Sheet
Kodiak Gas Services Inc generated $284.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 3269.5% from the prior year.
Kodiak Gas Services Inc held $3.2M in cash against $2.6B in long-term debt as of fiscal year 2025.
Kodiak Gas Services Inc paid $1.80 per share in dividends in fiscal year 2025. This represents an increase of 13.9% from the prior year.
Margins & Returns
Kodiak Gas Services Inc's gross margin was 63.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.8 percentage points from the prior year.
Kodiak Gas Services Inc's operating margin was 26.0% in fiscal year 2025, reflecting core business profitability. This is up 4.5 percentage points from the prior year.
Kodiak Gas Services Inc's net profit margin was 6.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.9 percentage points from the prior year.
Kodiak Gas Services Inc's ROE was 6.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.0 percentage points from the prior year.
Capital Allocation
Kodiak Gas Services Inc spent $104.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 159.9% from the prior year.
Kodiak Gas Services Inc invested $315.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.4% from the prior year.
Not reported for fiscal year 2025.
KGS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $391.1M+13.1% | $345.8M+3.9% | $332.9M+3.1% | $322.7M0.0% | $322.8M-2.1% | $329.6M+6.5% | $309.5M-4.7% | $324.6M |
| Cost of Revenue | $144.4M+17.5% | $122.9M+2.4% | $120.0M+3.3% | $116.2M+0.8% | $115.3M-10.3% | $128.5M+8.6% | $118.3M-8.5% | $129.3M |
| Gross Profit | $246.8M+10.7% | $222.9M+4.7% | $212.9M+3.1% | $206.5M-0.5% | $207.6M+3.2% | $201.2M-47.2% | $381.1M+212.6% | $121.9M |
| SG&A Expenses | $40.9M-11.3% | $46.1M+18.5% | $38.9M+3.0% | $37.8M+7.5% | $35.1M+8.9% | $32.3M+2.7% | $31.4M-11.6% | $35.5M |
| Operating Income | $124.2M+16.3% | $106.8M+22.9% | $86.9M+35.3% | $64.2M-35.6% | $99.7M+11.8% | $89.2M+29.2% | $69.0M+4.5% | $66.1M |
| Income Tax | $21.1M+664.2% | $2.8M-80.6% | $14.2M+325.6% | -$6.3M-146.9% | $13.4M+27.8% | $10.5M-32.3% | $15.5M+811.9% | -$2.2M |
| Net Income | $52.0M+191.9% | $17.8M-27.7% | $24.6M+275.8% | -$14.0M-135.5% | $39.5M+29.9% | $30.4M+59.4% | $19.1M+437.9% | -$5.6M |
| EPS (Diluted) | $0.53+165.0% | $0.20-28.6% | $0.28+264.7% | -$0.17-139.5% | $0.43+30.3% | $0.33+43.5% | $0.23+428.6% | -$0.07 |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
KGS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.5B+22.4% | $4.5B+4.1% | $4.3B-1.2% | $4.4B-0.1% | $4.4B-1.4% | $4.4B0.0% | $4.4B-1.3% | $4.5B |
| Current Assets | $528.1M+14.9% | $459.5M+42.2% | $323.1M-5.4% | $341.5M-1.2% | $345.5M-10.7% | $387.1M+0.9% | $383.7M-13.5% | $443.4M |
| Cash & Equivalents | $137.6M+45.8% | $94.4M+2868.3% | $3.2M+339.1% | $724K-86.7% | $5.4M+178.4% | $1.9M-58.9% | $4.8M-36.1% | $7.4M |
| Inventory | $107.1M+3.0% | $103.9M+2.4% | $101.5M+0.3% | $101.2M+0.2% | $101.0M+1.2% | $99.8M-3.4% | $103.3M-12.5% | $118.1M |
| Accounts Receivable | $262.7M+10.2% | $238.4M+20.6% | $197.6M-8.5% | $215.9M-3.9% | $224.7M-11.4% | $253.7M0.0% | $253.6M-9.6% | $280.4M |
| Goodwill | $753.5M+84.4% | $408.7M0.0% | $408.7M0.0% | $408.7M-1.6% | $415.2M0.0% | $415.2M0.0% | $415.2M+0.4% | $413.5M |
| Total Liabilities | $3.3B+0.5% | $3.3B+6.7% | $3.1B-0.2% | $3.1B+3.0% | $3.0B-1.7% | $3.1B+0.6% | $3.1B-1.1% | $3.1B |
| Current Liabilities | $365.0M+1.4% | $360.0M-6.7% | $385.9M+10.6% | $349.0M+11.4% | $313.3M-5.0% | $329.9M+3.3% | $319.4M-8.4% | $348.8M |
| Long-Term Debt | $2.7B-2.4% | $2.8B+9.1% | $2.6B-2.1% | $2.6B+2.5% | $2.5B-1.7% | $2.6B+0.2% | $2.6B-0.5% | $2.6B |
| Total Equity | $2.2B+84.2% | $1.2B-2.7% | $1.2B-3.8% | $1.3B-7.0% | $1.3B-0.5% | $1.4B-1.3% | $1.4B-1.6% | $1.4B |
| Retained Earnings | -$10.5M+15.7% | -$12.4M-197.0% | $12.8M-59.5% | $31.6M-63.3% | $86.0M-1.2% | $87.1M-7.0% | $93.6M-15.8% | $111.2M |
KGS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $99.5M+39.7% | $71.2M-63.5% | $194.9M+71.9% | $113.4M-36.0% | $177.2M+55.0% | $114.3M-3.5% | $118.5M+221.3% | $36.9M |
| Capital Expenditures | $200.2M+69.1% | $118.4M+124.1% | $52.8M-48.4% | $102.5M+24.0% | $82.6M+6.5% | $77.6M+5.9% | $73.2M-15.4% | $86.5M |
| Free Cash Flow | -$100.7M-113.5% | -$47.2M-133.2% | $142.0M+1202.1% | $10.9M-88.5% | $94.6M+157.1% | $36.8M-18.7% | $45.2M+191.1% | -$49.7M |
| Investing Cash Flow | -$772.1M-571.9% | -$114.9M-131.7% | -$49.6M+46.7% | -$93.1M-25.2% | -$74.4M-9.1% | -$68.2M-28.3% | -$53.1M+26.1% | -$72.0M |
| Financing Cash Flow | $715.8M+430.6% | $134.9M+194.5% | -$142.8M-472.3% | -$25.0M+74.9% | -$99.3M-102.9% | -$49.0M+28.0% | -$68.0M-275.9% | $38.7M |
| Dividends Paid | $50.0M+17.4% | $42.6M-0.9% | $43.0M+7.5% | $40.0M-0.4% | $40.1M+10.2% | $36.4M+0.2% | $36.4M+3.6% | $35.1M |
| Share Buybacks | $0 | $0-100.0% | $33.6M-33.2% | $50.4M+403.6% | $10.0M+0.4% | $10.0M-33.6% | $15.0M-40.0% | $25.0M |
KGS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.1%-1.4pp | 64.5%+0.5pp | 63.9%0.0pp | 64.0%-0.3pp | 64.3%+3.3pp | 61.0% | 123.1% | 37.5% |
| Operating Margin | 31.8%+0.9pp | 30.9%+4.8pp | 26.1%+6.2pp | 19.9%-11.0pp | 30.9%+3.8pp | 27.1%+4.8pp | 22.3%+2.0pp | 20.3% |
| Net Margin | 13.3%+8.1pp | 5.1%-2.3pp | 7.4%+11.7pp | -4.3%-16.6pp | 12.2%+3.0pp | 9.2%+3.1pp | 6.2%+7.9pp | -1.7% |
| Return on Equity | 2.4%+0.9pp | 1.5%-0.5pp | 2.0%+3.2pp | -1.1%-4.0pp | 2.9%+0.7pp | 2.2%+0.9pp | 1.4%+1.8pp | -0.4% |
| Return on Assets | 0.9%+0.5pp | 0.4%-0.2pp | 0.6%+0.9pp | -0.3%-1.2pp | 0.9%+0.2pp | 0.7%+0.3pp | 0.4%+0.6pp | -0.1% |
| Current Ratio | 1.45+0.2x | 1.28+0.4x | 0.84-0.1x | 0.98-0.1x | 1.10-0.1x | 1.170.0x | 1.20-0.1x | 1.27 |
| Debt-to-Equity | 1.26-1.1x | 2.37+0.3x | 2.120.0x | 2.08+0.2x | 1.890.0x | 1.910.0x | 1.880.0x | 1.86 |
| FCF Margin | -25.8%-12.1pp | -13.7%-56.3pp | 42.7%+39.3pp | 3.4%-25.9pp | 29.3%+18.1pp | 11.2%-3.5pp | 14.6%+29.9pp | -15.3% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin.
Note: The current ratio is below 1.0 (0.84), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Kodiak Gas Services Inc Ranks
Frequently Asked Questions
What is Kodiak Gas Services Inc's annual revenue?
Kodiak Gas Services Inc (KGS) reported $1.3B in total revenue for fiscal year 2025. This represents a 12.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kodiak Gas Services Inc's revenue growing?
Kodiak Gas Services Inc (KGS) revenue grew by 12.8% year-over-year, from $1.2B to $1.3B in fiscal year 2025.
Is Kodiak Gas Services Inc profitable?
Yes, Kodiak Gas Services Inc (KGS) reported a net income of $80.5M in fiscal year 2025, with a net profit margin of 6.2%.
What is Kodiak Gas Services Inc's EBITDA?
Kodiak Gas Services Inc (KGS) had EBITDA of $616.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Kodiak Gas Services Inc have?
As of fiscal year 2025, Kodiak Gas Services Inc (KGS) had $3.2M in cash and equivalents against $2.6B in long-term debt.
What is Kodiak Gas Services Inc's gross margin?
Kodiak Gas Services Inc (KGS) had a gross margin of 63.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Kodiak Gas Services Inc's operating margin?
Kodiak Gas Services Inc (KGS) had an operating margin of 26.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kodiak Gas Services Inc's net profit margin?
Kodiak Gas Services Inc (KGS) had a net profit margin of 6.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Kodiak Gas Services Inc pay dividends?
Yes, Kodiak Gas Services Inc (KGS) paid $1.80 per share in dividends during fiscal year 2025.
What is Kodiak Gas Services Inc's return on equity (ROE)?
Kodiak Gas Services Inc (KGS) has a return on equity of 6.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kodiak Gas Services Inc's free cash flow?
Kodiak Gas Services Inc (KGS) generated $284.3M in free cash flow during fiscal year 2025. This represents a 3269.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kodiak Gas Services Inc's operating cash flow?
Kodiak Gas Services Inc (KGS) generated $599.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kodiak Gas Services Inc's total assets?
Kodiak Gas Services Inc (KGS) had $4.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kodiak Gas Services Inc's capital expenditures?
Kodiak Gas Services Inc (KGS) invested $315.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Kodiak Gas Services Inc's current ratio?
Kodiak Gas Services Inc (KGS) had a current ratio of 0.84 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Kodiak Gas Services Inc's debt-to-equity ratio?
Kodiak Gas Services Inc (KGS) had a debt-to-equity ratio of 2.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kodiak Gas Services Inc's return on assets (ROA)?
Kodiak Gas Services Inc (KGS) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kodiak Gas Services Inc's Altman Z-Score?
Kodiak Gas Services Inc (KGS) has an Altman Z-Score of 1.67, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Kodiak Gas Services Inc's Piotroski F-Score?
Kodiak Gas Services Inc (KGS) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kodiak Gas Services Inc's earnings high quality?
Kodiak Gas Services Inc (KGS) has an earnings quality ratio of 7.45x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Kodiak Gas Services Inc?
Kodiak Gas Services Inc (KGS) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.