EFXT

MKT CAP:$3B

Enerflex Ltd.

Market Cap

$3B

Energy·Oil & Gas Equipment & Services·🇨🇦 Canada·NYSE

Energy·Oil & Gas Equipment & Services·🇨🇦·NYSE

Stock Price

$24.88+$8.94 (+56.09%)

Apr 23, 2026

Company Details

Enerflex Ltd. supplies natural gas compression, oil and gas processing, refrigeration systems, energy transition solutions, and electric power generation equipment to the oil and natural gas industry. The company provides custom and standar...

CEO

Paul E. Mahoney

IPO Date

Jun 13, 2011

Website

www.enerflex.com

Key Metrics TTM

Revenue

$2.0B

+156.4% YoY

Net Income

$100M

EPS (Diluted)

$0.58

Free Cash Flow

$132M

Revenue / Share

$16.35

Gross Margin

22.8%

Operating Margin

10.3%

Net Margin

5.0%

FCF Margin

6.5%

P/S

1.5x

P/E

30.9x

Earnings Reports

Q3 2025

May 14, 2026

PENDING

FY 2025

Feb 25, 2026

$2.6B+48.7%EPS $0.53

Q2 2025

Aug 7, 2025

$612MEPS $0.36

Q1 2025

May 8, 2025

$580MEPS $0.14

FY 2024

Feb 27, 2025

$1.8B+3.0%EPS $0.19

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$259M	$54M	$22M
Q2 18	$296M	$53M	$21M
Q3 18	$326M	$65M	$36M
Q4 18	$341M	$60M	$35M
Q2 19	$396M	$81M	$46M
Q3 19	$398M	$97M	$64M
Q4 19	$347M	$89M	$35M
Q1 20	$267M	$68M	$37M
Q2 20	$210M	$48M	$11M
Q3 20	$194M	$47M	$15M
Q1 21	$148M	$33M	$5M
Q4 21	$235M	$44M	$15M
Q1 22	$236M	$39M	$5M
Q4 24	$589M	$147M	$53M
Q1 25	$580M	$135M	$75M
Q2 25	$612M	$138M	$76M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q2 18	1.0x	—
Q3 18	1.0x	41.6x
Q4 18	0.9x	12.5x
Q2 19	0.9x	12.2x
Q3 19	0.5x	6.3x
Q4 19	0.6x	6.9x
Q1 20	0.2x	2.7x
Q2 20	0.3x	3.4x
Q3 20	0.3x	5.2x
Q1 21	0.7x	14.0x
Q4 21	0.7x	—
Q1 22	0.7x	—
Q4 24	1.0x	—
Q1 25	0.6x	57.0x
Q2 25	0.5x	9.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	$958.1K	-$564.9K
Q2 18	$57M	$44M
Q3 18	$22M	$4M
Q4 18	$79M	$30M
Q2 19	-$13M	-$67M
Q3 19	$23M	-$25M
Q4 19	-$60M	-$122M
Q1 20	$7M	-$42M
Q2 20	$47M	$24M
Q3 20	$66M	$52M
Q1 21	$43M	$34M
Q4 21	$90M	$77M
Q1 22	-$17M	-$19M
Q4 24	$113M	$107M
Q1 25	$96M	$82M
Q2 25	-$4M	-$38M

Capital Expenditures

Quarter	CapEx
Q1 17	$2M
Q2 18	$14M
Q3 18	$19M
Q4 18	$49M
Q2 19	$54M
Q3 19	$48M
Q4 19	$62M
Q1 20	$49M
Q2 20	$24M
Q3 20	$14M
Q1 21	$9M
Q4 21	$13M
Q1 22	$3M
Q4 24	$6M
Q1 25	$14M
Q2 25	$34M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	+64.1%	+45.1%
Q4 18	+36.0%	+30.0%
Q2 19	+52.7%	+47.5%
Q3 19	+34.4%	+21.3%
Q4 19	+6.4%	+7.5%
Q1 20	-21.7%	-24.7%
Q2 20	-47.0%	-43.0%
Q3 20	-51.3%	-46.4%
Q1 21	-57.2%	-53.9%
Q4 21	-12.1%	-4.5%
Q1 22	+12.4%	+15.8%
Q4 24	+204.3%	+200.2%
Q1 25	+290.9%	+252.8%
Q2 25	+160.7%	+143.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$3M	1.1%
Q2 18	$277.7K	0.1%
Q3 18	$3M	1.0%
Q4 18	$2M	0.5%
Q2 19	-$1M	-0.4%
Q3 19	-$2M	-0.5%
Q4 19	$2M	0.6%
Q1 20	-$4M	-1.4%
Q2 20	$504.2K	0.2%
Q3 20	$804.6K	0.4%
Q1 21	$4M	2.6%
Q4 21	-$163.7K	-0.1%
Q1 22	$3M	1.3%
Q4 24	$16M	2.7%
Q1 25	-$3M	-0.5%
Q2 25	$3M	0.5%

OpEx Breakdown

Quarter	SG&A
Q1 17	$31M
Q2 18	$32M
Q3 18	$29M
Q4 18	$25M
Q2 19	$34M
Q3 19	$33M
Q2 20	$38M
Q3 20	$32M
Q1 21	$27M
Q4 21	$29M
Q4 24	$47M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$78M	$0	$78M
Q2 22	$83M	$0	$83M
Q3 22	$105M	$0	$105M
Q4 22	$137M	$0	$137M
Q1 23	$142M	$0	$142M
Q2 23	$96M	$0	$96M
Q3 23	$88M	$6M	$94M
Q4 23	$69M	$8M	$77M
Q1 24	$80M	$0	$80M
Q2 24	$92M	$0	$92M
Q3 24	$69M	$0	$69M
Q4 24	$92M	$0	$92M
Q1 25	$75M	$5M	$80M
Q2 25	$71M	$3M	$74M
Q3 25	$65M	$0	$65M
Q4 25	$81M	$0	$81M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	89M	0.0%	—
Q2 18	89M	-0.1%	—
Q3 18	89M	+0.1%	+12.5%
Q4 18	90M	+0.7%	+0.7%
Q2 19	90M	+0.2%	+0.9%
Q3 19	90M	-0.1%	+0.9%
Q4 19	90M	-0.1%	+0.7%
Q1 20	90M	0.0%	-0.0%
Q2 20	90M	0.0%	-0.2%
Q3 20	90M	0.0%	-0.1%
Q1 21	90M	+0.1%	+0.1%
Q4 21	90M	-0.1%	+0.0%
Q1 22	90M	0.0%	+0.0%
Q4 24	124M	+38.4%	+38.4%
Q1 25	124M	+0.3%	+38.7%
Q2 25	123M	-0.9%	+37.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 17	—	—
Q2 18	—	—
Q3 18	—	—
Q4 18	—	—
Q2 19	—	—
Q3 19	—	—
Q4 19	—	—
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q1 21	—	—
Q4 21	—	—
Q1 22	—	—
Q4 24	$295M	2
Q1 25	$290M	2
Q2 25	$306M	2

Revenue / Employee