KGS

MKT CAP:$6B

Kodiak Gas Services, Inc.

Market Cap

$6B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NYSE

Energy·Oil & Gas Equipment & Services·🇺🇸·NYSE

Stock Price

$61.44+$23.80 (+63.22%)

Apr 17, 2026

Company Details

Kodiak Gas Services, Inc. operates contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Compression Operations and Other Services. The Compression Operations segmen...

CEO

Robert McKee

IPO Date

Jun 29, 2023

Website

www.kodiakgas.com

Key Metrics TTM

Revenue

$876M

+21.9% YoY

Net Income

$63M

EPS (Diluted)

$0.88

Free Cash Flow

$63M

Revenue / Share

$11.21

Gross Margin

37.5%

Operating Margin

27.9%

Net Margin

7.2%

FCF Margin

7.2%

P/S

6.6x

P/E

92.8x

Earnings Reports

Q2 2024

May 6, 2026

PENDING

Q1 2024

May 9, 2024

$215M+13.4%EPS $0.39

FY 2023

Mar 7, 2024

$850M+20.1%EPS $0.29

Q4 2023

Mar 7, 2024

$226MEPS -$0.09

Q3 2023

Nov 9, 2023

$231M+26.5%EPS $0.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$168M	$64M	$54M
Q2 22	$177M	$64M	$52M
Q3 22	$183M	$69M	$58M
Q1 23	$190M	$73M	$60M
Q2 23	$203M	$75M	$62M
Q3 23	$231M	$81M	$61M
Q4 23	$226M	$88M	$61M
Q1 24	$215M	$85M	$60M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	8.1x	82.6x
Q2 23	7.7x	96.9x
Q3 23	7.2x	79.8x
Q4 23	6.8x	289.7x
Q1 24	6.6x	92.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$55M	-$17M
Q2 22	$73M	-$1M
Q3 22	$59M	$5M
Q1 23	$23M	-$25M
Q2 23	$95M	$49M
Q3 23	$86M	$34M
Q4 23	$63M	-$12M
Q1 24	$52M	-$9M

Capital Expenditures

Quarter	CapEx
Q1 22	$72M
Q2 22	$74M
Q3 22	$54M
Q1 23	$49M
Q2 23	$45M
Q3 23	$52M
Q4 23	$74M
Q1 24	$60M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	+20.8%	+23.9%
Q3 23	+30.4%	+35.8%
Q4 23	+23.7%	+32.8%
Q1 24	+13.4%	+19.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$619.0K	0.4%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q1 23	$879.0K	0.5%
Q2 23	$29.0K	0.0%
Q3 23	$3M	1.1%
Q4 23	$2M	1.1%
Q1 24	$3M	1.3%

OpEx Breakdown

Quarter	SG&A
Q1 22	$10M
Q2 22	$12M
Q3 22	$11M
Q1 23	$13M
Q2 23	$13M
Q3 23	$20M
Q4 23	$27M
Q1 24	$25M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$20M	$0	$20M
Q1 23	$3M	$0	$3M
Q2 23	$41M	$0	$41M
Q3 23	$6M	$0	$6M
Q4 23	$6M	$0	$6M
Q1 24	$9M	$0	$9M
Q2 24	$4M	$0	$4M
Q3 24	$7M	$0	$7M
Q4 24	$5M	$0	$5M
Q1 25	$2M	$0	$2M
Q2 25	$5M	$0	$5M
Q3 25	$724.0K	$0	$724.0K
Q4 25	$3M	$0	$3M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	75M	—	—
Q2 22	75M	0.0%	—
Q3 22	75M	0.0%	—
Q1 23	75M	0.0%	—
Q2 23	59M	-21.3%	-21.3%
Q3 23	84M	+42.9%	+12.4%
Q4 23	78M	-7.8%	+3.6%
Q1 24	78M	+0.5%	+4.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	$289.3K	781
Q1 24	$275.9K	781

Revenue / Employee