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NYSE · Utilities

Kodiak Gas Services, Inc. (KGS)

As-reported financials and SEC filings for Kodiak Gas Services, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Kodiak Gas Services, Inc.

Kodiak Gas Services, Inc. provides large horsepower contract compression infrastructure in the U.S. to support the movement and processing of natural gas and oil. The company operates a fleet of compression units primarily in key production regions like the Permian Basin and Eagle Ford Shale, serving upstream and midstream energy customers under long-term contracts. Its services include operating compression assets and offering maintenance, construction, and parts sales to support natural gas and oil production and transportation.

Snapshot

Revenue
$1.31B
Revenue growth (YoY)
12.8%
Net income
$80.5M
Diluted EPS
$0.89
Gross margin
Operating margin
26.0%
Net margin
6.2%
FCF margin
21.7%
ROE
6.7%
net income / fiscal-year-end equity
P/E
65.5×
trailing when available, otherwise FY EPS
Market cap
$5.83B
Long-term debt / equity
2.12×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Kodiak Gas Services

  • Revenue grew 12.8% to $1.3B in FY2025, slower than the 36.3% the year before.
  • Operating margin is 26.0% in FY2025, -5.2 pp against 31.2% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $391M, up 21.1% from Q2 FY2025.
  • Free cash flow was $284M in FY2025, 21.7% of revenue.
  • Net income rose 61.4% to $81M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Kodiak Gas Services’s fundamentals sit among the 98 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin26.0%
73rd percentile of 86
Net margin6.2%
24th percentile of 91
FCF margin21.7%
92nd percentile of 76
Revenue growth (YoY)+12.8%
68th percentile of 94
ROE6.7%
28th percentile of 89
P/E65.5×
96th percentile of 83
Long-term debt / equity2.12×
93rd percentile of 84
Short interest5.76d
59th percentile of 98

Kodiak Gas Services’s P/E of 65.5 ranks in the 96th percentile of the 83 peers with a meaningful P/E. Kodiak Gas Services’s long-term debt to equity of 2.12 ranks in the 93rd percentile of the 84 Utilities companies reporting it. Kodiak Gas Services’s FCF margin of 21.7% ranks in the 92nd percentile of the 76 Utilities companies reporting it.

No reported insider purchases (code P) in the last 90 days; 7 insider sales totaling $1.4M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+6 quant / multi-strat
Initiated / added
5
1 new, 4 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$410.7M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ2 2026$158.1M2.1MAdded
Citadel AdvisorsquantQ2 2026$88.5M1.2MReduced
Lone Pine CapitalQ2 2026$63.5M845.1KNew
Millennium ManagementquantQ2 2026$37.8M502.5KAdded
D. E. ShawquantQ2 2026$25.2M334.8KAdded
Renaissance TechnologiesquantQ2 2026$23.1M307.1KReduced
Bridgewater AssociatesQ2 2026$6.3M83.2KReduced
AQR Capital ManagementquantQ2 2026$5.5M73.8KAdded
Gotham Asset ManagementQ2 2026$2.9M38.7KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
7
$1.4M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-19
filed 2026-08-20
McKee Robert MichaelPresident & CEOSell6.0K$62.39$375K
2026-08-11
filed 2026-08-12
Lenamon William ChadExecutive Vice President & COOSell1.0K$61.93$62K
2026-07-13
Lenamon William ChadExecutive Vice President & COOSell1.0K$67.79$68K
2026-07-08
Roclawski Cory AnneEVP & CHROSell4.2K$68.36$285K
2026-06-17
Buhigas Pedro R.Chief Information OfficerSell4.6K$67.78$313K
2026-06-16
Hamilton Ewan WilliamEVP & Chief Accounting OfficerSell2.7K$68.62$187K
2026-06-11
Lenamon William ChadExecutive Vice President & COOSell1.0K$67.79$68K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
8.7M
settled 2026-08-14
Change vs prior
+14.7%
vs previous settlement
Days to cover
5.76
at avg daily volume
Avg daily volume
1.5M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-148.7M+14.7%5.76
2026-07-317.6M+0.1%4.13
2026-07-157.6M-14.9%4.47
2026-06-308.9M+30.7%3.51
2026-06-156.8M+7.6%4.51
2026-05-296.3M+14.4%3.02
2026-05-155.5M+2.6%2.08
2026-04-305.4M-10.6%4.83

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.31B$1.16B$850.4M$707.9M$606.4M
Gross profit
Operating income$340.0M$249.4M$244.1M$222.1M$189.0M
Net income$80.5M$49.9M$20.1M$106.3M$181.0M
Diluted EPS$0.89$0.56$0.29$1.80$3.07

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$3.2M$4.8M$5.6M$20.4M$28.8M
Current assets$323.1M$383.7M$231.0M$204.0M
Total assets$4.32B$4.44B$3.24B$3.21B$3.01B
Current liabilities$385.9M$319.4M$210.6M$189.0M
Long-term debt$2.56B$2.58B$1.79B$2.72B
Total liabilities$3.11B$3.06B$2.10B$2.98B$2.05B
Total equity$1.21B$1.37B$1.14B$229.1M$960.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$599.7M$328.0M$266.3M$219.8M$250.0M
Capital expenditure$315.5M$337.0M$219.8M$259.3M$201.9M
Free cash flow$284.3M$-9.0M$46.5M$-39.5M$48.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$391.1M21.1%$52.0M$0.53
Q1 FY2026$345.8M4.9%$17.8M$0.20
Q4 FY2025$332.9M7.5%$24.6M$0.29
Q3 FY2025$322.7M-0.6%$-14.0M$-0.17
Q2 FY2025$322.8M4.3%$39.5M$0.43
Q1 FY2025$329.6M53.0%$30.4M$0.33
Q4 FY2024$309.5M37.0%$19.1M$0.25
Q3 FY2024$324.6M40.6%$-5.6M$-0.07

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryNatural Gas Transmission
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2019
SEC CIK1767042

Selected SEC filings

10-Q2026-08-07
View on EDGAR →
10-Q2026-05-11
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-05-15
View on EDGAR →
8-K/A2026-05-13
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.