Kodiak Gas Services, Inc. (KGS) Stock Analysis
Energy · Oil & Gas Equipment & Services · NYSE
Kodiak Gas Services, Inc. (KGS) posted $1.31B in revenue for fiscal 2025 (up 12.8% year over year), at a 6.2% net margin, and has compounded revenue about 21.2%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Kodiak Gas Services, Inc.
Kodiak Gas Services, Inc. has grown revenue from $606.38M to $1.31B over the last 5 fiscal years, compounding about 21.2% a year. The most recent year was up 12.8%, so growth has cooled from its longer-run pace.
Net margin sits at 6.2%, up 1.9 points year over year. It carries about $2.56B of total debt.
At today's valuation the market is pricing in roughly 10% annual free-cash-flow growth. The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Kodiak Gas Services, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Kodiak Gas Services, Inc. revenue & earnings — last 5 fiscal years
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $606.38M | $707.91M | $850.38M | $1.16B | $1.31B |
| Gross profit | $236.15M | $266.10M | $316.64M | — | — |
| Net income | $180.96M | $106.27M | $20.07M | $49.90M | $80.52M |
| Net margin | 29.8% | 15.0% | 2.4% | 4.3% | 6.2% |
Source: Kodiak Gas Services, Inc. SEC filings (10-K).
Kodiak Gas Services, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 45.4% over 3 years (59M → 85.8M) — existing holders' stakes are being diluted.
- Net margin shrinkingNet margin fell from 15.0% to 6.2% over ~3 years — profitability is compressing.
What growth is priced into KGS stock?
At today's market cap of $6.73B, Kodiak Gas Services, Inc. is priced for free-cash-flow growth of about 10% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $284.27M from the FY ending 2025-12-31). This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 5 years of Kodiak Gas Services, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Kodiak Gas Services, Inc. financial history by metric
Compare Kodiak Gas Services, Inc. with peers
About Kodiak Gas Services, Inc.
Kodiak Gas Services, Inc. operates and provides contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Contract Services and Other Services. The Contract Services segment operates company-owned and customer-owned compression, and gas treating and cooling infrastructure to enable the production, gathering, processing, and transportation of natural gas and oil. The Other Services segment provides a range of services to support the needs of customers, including station construction, maintenance and overhaul, freight and crane charges, parts sales, and other ancillary time and material-based offerings. The company was formerly known as Frontier TopCo, Inc. Kodiak Gas Services, Inc. was founded in 2010 and is headquartered in The Woodlands, Texas.
Kodiak Gas Services, Inc. — frequently asked questions
What is Kodiak Gas Services, Inc.'s revenue?
Kodiak Gas Services, Inc. (KGS) reported revenue of $1.31B for fiscal year 2025, up 12.8% from the prior year, according to its SEC filings.
Is Kodiak Gas Services, Inc. profitable?
Yes. KGS earned net income of $80.52M in fiscal 2025, a net margin of 6.2%.
What is KGS's P/E ratio?
Kodiak Gas Services, Inc. trades at a price-to-earnings ratio of about 87.7 based on the latest data in our nightly-refreshed cache.
How fast is Kodiak Gas Services, Inc. growing?
KGS's revenue grew at roughly 21.2% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Kodiak Gas Services, Inc. have?
As of fiscal year 2025, KGS carried roughly $2.56B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Kodiak Gas Services, Inc.'s market cap?
Kodiak Gas Services, Inc. (KGS) has a market capitalization of about $6.73B, based on the latest data in our nightly-refreshed cache.
When does Kodiak Gas Services, Inc.'s fiscal year end?
KGS's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into KGS stock?
At today's market cap of $6.73B, Kodiak Gas Services, Inc. is priced for free-cash-flow growth of about 10% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $284.27M from the FY ending 2025-12-31).
Where does this data come from?
All figures are computed from Kodiak Gas Services, Inc.'s official SEC filings (10-K and 10-Q), covering 5 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.