Chart Industries (GTLS)
Market Price (5/12/2026): $207.8 | Market Cap: $9.5 BilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Chart Industries (GTLS)
Market Price (5/12/2026): $207.8Market Cap: $9.5 BilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 25% Megatrend and thematic driversMegatrends include Hydrogen Economy, and US Energy Independence. Themes include Hydrogen Infrastructure, Green Hydrogen Production, Show more. | Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -4.8% Weak multi-year price returns2Y Excs Rtn is -12%, 3Y Excs Rtn is -7.5% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 233x Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.5% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% Key risksGTLS key risks include [1] a strained financial position due to high leverage, Show more. |
| Low stock price volatilityVol 12M is 25% |
| Megatrend and thematic driversMegatrends include Hydrogen Economy, and US Energy Independence. Themes include Hydrogen Infrastructure, Green Hydrogen Production, Show more. |
| Trading close to highsDist 52W High is -0.3%, Dist 3Y High is -4.8% |
| Weak multi-year price returns2Y Excs Rtn is -12%, 3Y Excs Rtn is -7.5% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 233x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -2.5% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.4% |
| Key risksGTLS key risks include [1] a strained financial position due to high leverage, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Chart Industries (GTLS) stock has remained largely at the same level since 1/31/2026 because of the following key factors:
1. Pending Cash Acquisition at a Fixed Price.
Shareholders have approved a deal for Chart Industries to be acquired at $210 per share in cash, with the closing anticipated in the second quarter of 2026. This impending acquisition has largely anchored the stock price, keeping it trading consistently near the offer value since the beginning of the specified period.
2. Neutral Analyst Ratings and Price Targets.
Wall Street analysts have generally maintained "Hold" or "Reduce" consensus ratings for GTLS, with average price targets ranging from approximately $202.38 to $210.00. The stock trading near these targets, coupled with a lack of strong buy recommendations or significant projected upside, has contributed to its stable movement.
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1. Pending Cash Acquisition at a Fixed Price.
Shareholders have approved a deal for Chart Industries to be acquired at $210 per share in cash, with the closing anticipated in the second quarter of 2026. This impending acquisition has largely anchored the stock price, keeping it trading consistently near the offer value since the beginning of the specified period.
2. Neutral Analyst Ratings and Price Targets.
Wall Street analysts have generally maintained "Hold" or "Reduce" consensus ratings for GTLS, with average price targets ranging from approximately $202.38 to $210.00. The stock trading near these targets, coupled with a lack of strong buy recommendations or significant projected upside, has contributed to its stable movement.
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Stock Movement Drivers
Fundamental Drivers
The 0.2% change in GTLS stock from 1/31/2026 to 5/11/2026 was primarily driven by a 66.5% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 207.34 | 207.79 | 0.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,291 | 4,264 | -0.6% |
| Net Income Margin (%) | 1.6% | 1.0% | -38.6% |
| P/E Multiple | 139.7 | 232.7 | 66.5% |
| Shares Outstanding (Mil) | 45 | 46 | -1.4% |
| Cumulative Contribution | 0.2% |
Market Drivers
1/31/2026 to 5/11/2026| Return | Correlation | |
|---|---|---|
| GTLS | 0.2% | |
| Market (SPY) | 3.6% | 50.3% |
| Sector (XLI) | 6.1% | 43.8% |
Fundamental Drivers
The 4.1% change in GTLS stock from 10/31/2025 to 5/11/2026 was primarily driven by a 73.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 199.62 | 207.79 | 4.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,291 | 4,264 | -0.6% |
| Net Income Margin (%) | 1.6% | 1.0% | -38.6% |
| P/E Multiple | 134.5 | 232.7 | 73.0% |
| Shares Outstanding (Mil) | 45 | 46 | -1.4% |
| Cumulative Contribution | 4.1% |
Market Drivers
10/31/2025 to 5/11/2026| Return | Correlation | |
|---|---|---|
| GTLS | 4.1% | |
| Market (SPY) | 5.5% | 38.0% |
| Sector (XLI) | 13.6% | 28.7% |
Fundamental Drivers
The 53.9% change in GTLS stock from 4/30/2025 to 5/11/2026 was primarily driven by a 786.8% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 134.98 | 207.79 | 53.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,160 | 4,264 | 2.5% |
| Net Income Margin (%) | 5.3% | 1.0% | -81.8% |
| P/E Multiple | 26.2 | 232.7 | 786.8% |
| Shares Outstanding (Mil) | 42 | 46 | -6.8% |
| Cumulative Contribution | 53.9% |
Market Drivers
4/30/2025 to 5/11/2026| Return | Correlation | |
|---|---|---|
| GTLS | 53.9% | |
| Market (SPY) | 30.4% | 24.9% |
| Sector (XLI) | 35.2% | 17.3% |
Fundamental Drivers
The 56.1% change in GTLS stock from 4/30/2023 to 5/11/2026 was primarily driven by a 164.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5112026 | Change |
|---|---|---|---|
| Stock Price ($) | 133.10 | 207.79 | 56.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,612 | 4,264 | 164.5% |
| Net Income Margin (%) | 1.5% | 1.0% | -35.9% |
| P/E Multiple | 207.7 | 232.7 | 12.0% |
| Shares Outstanding (Mil) | 37 | 46 | -17.8% |
| Cumulative Contribution | 56.1% |
Market Drivers
4/30/2023 to 5/11/2026| Return | Correlation | |
|---|---|---|
| GTLS | 56.1% | |
| Market (SPY) | 78.7% | 52.7% |
| Sector (XLI) | 83.0% | 53.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GTLS Return | 35% | -28% | 18% | 40% | 8% | 1% | 76% |
| Peers Return | 24% | 1% | 29% | 18% | 6% | 15% | 133% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| GTLS Win Rate | 58% | 42% | 50% | 50% | 67% | 40% | |
| Peers Win Rate | 57% | 43% | 57% | 60% | 58% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| GTLS Max Drawdown | 0% | -32% | -11% | -22% | -40% | -0% | |
| Peers Max Drawdown | -8% | -25% | -6% | -9% | -17% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: LIN, APD, BKR, PH, IR. See GTLS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/11/2026 (YTD)
How Low Can It Go
| Event | GTLS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.2% | -18.8% |
| % Gain to Breakeven | 70.0% | 23.1% |
| Time to Breakeven | 112 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -22.0% | -7.8% |
| % Gain to Breakeven | 28.2% | 8.5% |
| Time to Breakeven | 84 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -32.4% | -9.5% |
| % Gain to Breakeven | 48.0% | 10.5% |
| Time to Breakeven | 151 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.8% | -6.7% |
| % Gain to Breakeven | 27.9% | 7.1% |
| Time to Breakeven | 38 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.8% | -24.5% |
| % Gain to Breakeven | 40.4% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -75.9% | -33.7% |
| % Gain to Breakeven | 315.5% | 50.9% |
| Time to Breakeven | 133 days | 140 days |
In The Past
Chart Industries's stock fell -41.2% during the 2025 US Tariff Shock. Such a loss loss requires a 70.0% gain to breakeven.
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| Event | GTLS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -41.2% | -18.8% |
| % Gain to Breakeven | 70.0% | 23.1% |
| Time to Breakeven | 112 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -22.0% | -7.8% |
| % Gain to Breakeven | 28.2% | 8.5% |
| Time to Breakeven | 84 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -32.4% | -9.5% |
| % Gain to Breakeven | 48.0% | 10.5% |
| Time to Breakeven | 151 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.8% | -6.7% |
| % Gain to Breakeven | 27.9% | 7.1% |
| Time to Breakeven | 38 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.8% | -24.5% |
| % Gain to Breakeven | 40.4% | 32.4% |
| Time to Breakeven | 13 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -75.9% | -33.7% |
| % Gain to Breakeven | 315.5% | 50.9% |
| Time to Breakeven | 133 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.7% | -19.2% |
| % Gain to Breakeven | 29.4% | 23.7% |
| Time to Breakeven | 42 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.1% | -12.2% |
| % Gain to Breakeven | 75.9% | 13.9% |
| Time to Breakeven | 100 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -78.7% | -6.8% |
| % Gain to Breakeven | 369.4% | 7.3% |
| Time to Breakeven | 863 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -38.2% | -17.9% |
| % Gain to Breakeven | 61.9% | 21.8% |
| Time to Breakeven | 43 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -45.0% | -15.4% |
| % Gain to Breakeven | 81.8% | 18.2% |
| Time to Breakeven | 134 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -83.8% | -53.4% |
| % Gain to Breakeven | 516.9% | 114.4% |
| Time to Breakeven | 639 days | 1085 days |
In The Past
Chart Industries's stock fell -41.2% during the 2025 US Tariff Shock. Such a loss loss requires a 70.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Chart Industries (GTLS)
Chart Industries, Inc. manufactures and sells engineered equipment for the energy and industrial gas industries worldwide. The company operates through four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. It provides bulk and packaged gas cryogenic solutions for the storage, distribution, vaporization, and application of industrial gases; cryogenic trailers, ISO containers, bulk storage tanks, loading facilities, and regasification equipment for delivering liquefied natural gas (LNG) into virtual pipeline applications; and large vacuum insulated storage tanks as equipment for purchasers of standard liquefaction plants. The company also offers process technology, liquefaction train, and critical equipment for the LNG, including small to mid-scale facilities, floating LNG applications, and large base-load export facilities; brazed aluminum, Core-in-Kettle, heat exchangers, cold boxes, air cooled heat exchangers, pressure vessels, and pipe works; and air cooled heat exchangers and axial cooling fans for the power, heating, ventilation, air conditioning, and refining applications. In addition, it provides highly engineered equipment that is used in specialty end-market applications for hydrogen, LNG, biogas, CO2 Capture, food and beverage, aerospace, lasers, cannabis, and water treatment; and cryogenic components, including vacuum insulated pipes, specialty liquid nitrogen, end-use equipment, and cryogenic flow meters. Additionally, it provides extended warranties, plant start-up, parts, 24/7 support, monitoring and process optimization, repairing, maintenance, and upgrading services; plant services on equipment, including brazed aluminum heat exchangers, cold boxes, etc.; and service locations that undertake installation, service, repair, maintenance, and refurbishment of cryogenic products, as well as equipment leasing solutions. The company was founded in 1859 and is based in Ball Ground, Georgia.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Chart Industries (GTLS):
- The Caterpillar of industrial gas infrastructure.
- A specialized General Electric for cryogenic and clean energy equipment.
- The Baker Hughes of the clean gas economy.
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```html- Cryogenic Storage & Distribution Equipment: Manufactures bulk tanks, trailers, ISO containers, and related infrastructure for industrial gases and LNG virtual pipeline applications.
- LNG Liquefaction & Processing Equipment: Provides process technology, liquefaction trains, and critical equipment for small to large-scale LNG facilities.
- Heat Exchangers & Cold Boxes: Produces specialized heat transfer equipment, including brazed aluminum, Core-in-Kettle, and air-cooled heat exchangers for various industrial uses.
- Specialty Application Equipment: Offers highly engineered equipment for diverse end markets such as hydrogen, biogas, CO2 capture, food and beverage, and aerospace.
- Cryogenic Components: Supplies essential cryogenic parts including vacuum insulated pipes, specialty liquid nitrogen equipment, and cryogenic flow meters.
- Aftermarket Services: Provides comprehensive support, including extended warranties, plant start-up, parts, 24/7 support, monitoring, maintenance, repair, and upgrades for its equipment.
- Equipment Leasing Solutions: Offers leasing options for its manufactured equipment.
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Chart Industries (GTLS) primarily sells its engineered equipment and services to other companies (B2B) rather than individuals. Based on the provided background information, Chart Industries serves a diverse range of industrial sectors and applications, but specific major customer companies are not named.
The company's customer base generally includes businesses operating in:
- The energy and industrial gas industries, requiring solutions for storage, distribution, vaporization, and application of industrial gases, including LNG.
- Companies involved in liquefaction plants and facilities, from small to mid-scale to large base-load export facilities, as well as floating LNG applications.
- Various specialty end-market applications, such as hydrogen production, biogas processing, CO2 Capture, food and beverage, aerospace, lasers, cannabis, and water treatment.
The provided description details the types of industries and applications Chart Industries serves with its engineered equipment and services, but it does not list the names of specific major customer companies or their public symbols.
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Jillian C. Evanko
President & Chief Executive Officer
Jillian C. Evanko has served as President and Chief Executive Officer of Chart Industries since June 2018. She initially joined Chart in February 2017 as Chief Financial Officer. Prior to her tenure at Chart, Ms. Evanko was the Chief Financial Officer of Truck-Lite Co., LLC. She also held various operational and financial executive positions at Dover Corporation and its subsidiaries, and earlier in her career, worked in financial and operational roles at Arthur Andersen, LLP, Honeywell Corporation, and Sony Corporation.
Gerald F. (Gerry) Vinci
Chief Financial Officer
Gerald F. (Gerry) Vinci serves as Chief Financial Officer of Chart Industries. He joined Chart in May 2020 as Chief Accounting Officer and was appointed CFO in July 2020. Before joining Chart, Mr. Vinci held the position of Chief Accounting Officer and Corporate Controller at Sprint Corporation. His career also includes leadership roles at Ernst & Young LLP in both the audit and transaction advisory services practices.
Brad Babineaux
Chief Operating Officer
Brad Babineaux is the Chief Operating Officer at Chart Industries. He previously served as President of the Heat Transfer Systems segment. Mr. Babineaux has held various leadership roles within Chart, including President of Chart Energy & Chemicals, and has extensive experience in the industrial gas and energy sectors.
Joseph Belling
Chief Technology Officer
Joseph Belling is the Chief Technology Officer of Chart Industries. Prior to this role, he served as the Chief Commercial Officer, responsible for strategic growth in industrial gas and traditional energy markets, as well as expansion into new specialty and clean energy markets. Mr. Belling also held positions as President of the Energy & Chemicals (E&C) segment, President of E&C Cryogenics, and VP/GM of Chart's Brazed Aluminum Heat Exchangers (BAHX) business. He began his career as a Sales/Applications Engineer with ALTEC International in 1993.
Jon E. Morrison
President, Cryo Tank Solutions
Jon E. Morrison serves as the President of Cryo Tank Solutions at Chart Industries. He previously held the role of President, Distribution and Storage. Mr. Morrison has a long history in the automotive and commercial vehicle industry, having served as President of the Americas for WABCO (now ZF), where he grew the business significantly. He also served as President for North America for American Axle & Manufacturing.
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- Chart Industries' business is significantly exposed to the demand and capital expenditure cycles of the global energy and industrial gas industries, particularly concerning liquefied natural gas (LNG) infrastructure and related industrial gas applications. Fluctuations in commodity prices, evolving energy policies, geopolitical events, and the global transition towards renewable energy sources can directly impact customer investment decisions and, consequently, the demand for Chart's engineered equipment and services.
- The company is vulnerable to delays, cancellations, or reduced investment in large-scale energy and industrial projects. These projects, often requiring substantial capital, are sensitive to macroeconomic factors such as global economic slowdowns, interest rate fluctuations, and regulatory changes, which can lead to extended project timelines or deferred capital expenditures by customers.
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Chart Industries (GTLS) operates within several significant addressable markets globally, driven by the demand for its engineered equipment in the energy and industrial gas sectors.
Cryogenic Solutions and Industrial Gas Equipment
- The global cryogenic equipment market was estimated at approximately USD 21.4 billion in 2025 and is projected to reach about USD 37 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 5.7%. Other estimates place the global cryogenic equipment market at USD 25.93 billion in 2025, expected to reach USD 37.64 billion by 2031 with a CAGR of 6.41% over 2026-2031.
- Specifically, the global cryogenic tanks market was valued at an estimated USD 7.16 billion in 2024 and is projected to grow to USD 9.77 billion by 2030, at a CAGR of 5.4% from 2025 to 2030. Another report indicates a market size of USD 7.54 billion in 2025, expected to reach USD 10.61 billion in 2032, exhibiting a CAGR of 5% from 2025 to 2032.
- The broader global gas equipment market, which includes cryogenic products, was valued at USD 82.47 billion in 2025 and is expected to reach USD 132.24 billion by 2033, with a CAGR of 6.08%.
LNG Equipment and Technology
- The global LNG liquefaction equipment market was valued at USD 20 billion in 2024 and is expected to grow to USD 30.4 billion by 2035, at a CAGR of 3.9% from 2025 to 2035. Other projections estimate this market at USD 25.4 billion in 2025, expanding to USD 55.9 billion by 2035, with an 8.2% CAGR.
- For compact LNG liquefaction equipment, the global market is projected to grow from US$ 908 million in 2025 to US$ 1878 million by 2032, at a CAGR of 11.1% (2026-2032).
- The global LNG cryogenic equipment market size was valued at USD 4658.11 million in 2025 and is expected to reach USD 7318.55 million by 2034, growing at a CAGR of 4.5% from 2025 to 2034.
Heat Transfer Systems
- The global heat exchangers market size was valued at approximately USD 19.25 billion in 2024 and is projected to grow to USD 36.60 billion by 2034, exhibiting a CAGR of 6.0% from 2025 to 2034. Another analysis shows the market at USD 20.01 billion in 2025, projected to reach USD 33.60 billion by 2034, with a CAGR of 5.75%.
Specialty Products for Hydrogen and CO2 Capture
- The global hydrogen liquefaction system market is projected to expand from USD 3.91 billion in 2025 to USD 6.11 billion by 2031, registering a CAGR of 7.72% over the forecast period.
- The global liquid hydrogen market size was valued at USD 45.87 billion in 2025 and is projected to grow to USD 85.78 billion by 2034, exhibiting a CAGR of 7.2% during the forecast period (2026-2034).
- The global carbon capture & storage market was valued at USD 3,921.55 million in 2025 and is projected to reach USD 6,719.31 million by 2033, growing at a CAGR of 7.0% from 2026 to 2033. Other estimates indicate a market size of USD 8.6 billion in 2024, projected to grow to USD 51.5 billion by 2034 with a CAGR of 16% from 2025 to 2034. The carbon capture and utilization market is expected to grow from USD 3.60 billion in 2025 to USD 5.34 billion by 2031 at a 6.78% CAGR.
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Here are 3-5 expected drivers of future revenue growth for Chart Industries (GTLS) over the next 2-3 years:Expected Drivers of Future Revenue Growth for Chart Industries (GTLS)
- Expansion in Clean Energy Markets: Chart Industries is positioned to benefit from the increasing global focus on decarbonization and clean energy. The company anticipates growth from hydrogen commercialization, with milestones for liquid hydrogen tanks, trailers, and fueling systems expected between 2024 and 2026. Strong demand is also noted in carbon capture technologies from utility and industrial sectors, as well as growth in biogas projects.
- Growth in the Liquefied Natural Gas (LNG) Market, particularly from Data Centers: Chart Industries is targeting the multi-year LNG upcycle through its cold boxes, storage, and distribution systems, linked to global capacity additions and small-to-mid-scale LNG projects from 2024 to 2027. A significant opportunity lies in the increased demand from data center clients for Chart’s small-scale LNG solutions, including liquefaction and storage. This end market is viewed as a near, medium, and long-term addressable market.
- Aftermarket, Repair, Service, and Leasing (RSL) Segment Expansion: The integration of Howden has expanded Chart's service capabilities, adding over 50 service centers and an increased installed base. This is expected to drive double-digit annual aftermarket growth through 2026 via lifecycle contracts. The Repair, Service & Leasing segment, which already contributed significantly to consolidated sales in 2025, has a growing installed base and a reputation for high-quality service, providing a platform for recurring revenue through new long-term agreements.
- Strategic Acquisitions and Synergies: The acquisition of Howden in 2023 transformed Chart Industries into a more diversified flow-control and compression platform, expanding its global reach and capabilities. Furthermore, the anticipated merger with Baker Hughes, expected to close in the second quarter of 2026, could further enhance Chart's market reach and technological capabilities, potentially leading to increased market share and revenue growth.
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Share Repurchases
- Chart Industries' Board of Directors authorized a share repurchase program of up to $250.0 million of its common stock on December 11, 2024.
- The company has stipulated that no share repurchases or material cash acquisitions will occur until its net leverage ratio falls below 2.5.
- As of September 30, 2024, Chart Industries' net leverage ratio was 3.04.
Share Issuance
- On December 15, 2025, outstanding depositary shares representing interests in Chart Industries' 6.75% Series B Mandatory Convertible Preferred Stock automatically converted into common stock, with each depositary share converting into 0.3526 shares of common stock.
- A company Vice President acquired 1,242 shares of common stock on February 24, 2026, as vested performance units granted under the 2017 Omnibus Equity Plan.
Inbound Investments
- On September 7, 2021, Chart Industries entered into a Co-investment Agreement with I Squared Capital (ISQ), an infrastructure-focused private equity firm.
- Multiple institutional investors increased or acquired new stakes in Chart Industries during the third quarter of 2025 and 2026, with examples including Angelo Gordon & Co. L.P. acquiring a new stake of 13,000 shares (approximately $2.6 million) and AQR Arbitrage LLC increasing its holdings by 369.1% to approximately 378,580 shares (approximately $75.8 million).
- Dimensional Fund Advisors LP raised its stake in Chart Industries by 0.7% during the third quarter of 2026, bringing its total holdings to over 1.2 million shares, valued at approximately $243 million.
Outbound Investments
- Chart Industries acquired Howden for $4.4 billion in November 2022.
- In December 2021, the company acquired Earthly Labs, Inc., a provider of small-scale carbon capture systems.
- During 2021, Chart Industries also made several other acquisitions, including AdEdge Holdings, LLC for $40 million (water treatment), L.A. Turbine for $80 million (turbomachinery), and Cryo Technologies for $55 million (custom engineered process systems).
Capital Expenditures
- Capital expenditures for the full year 2025 amounted to $89.9 million.
- Over the past five years (2021-2025), Chart Industries' Capital Expenditures peaked at $63.1 million during Q3 2023 and registered a low of $9.8 million during Q3 2021.
- Expected capital expenditures for the 2024-2026 period are approximately 3-4% of sales, with a primary focus on automation, debottlenecking, and research and development to support hydrogen market growth, LNG modularization, and carbon capture demand.
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEO | GEO | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | RUN | Sunrun | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 0.0% | 0.0% | 0.0% |
| 04172026 | RSG | Republic Services | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.8% | 0.8% | -1.1% |
| 04102026 | VRSK | Verisk Analytics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.3% | 12.3% | 0.0% |
| 04102026 | UHAL | U-Haul | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.3% | 0.3% | -1.0% |
| 03312025 | GTLS | Chart Industries | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 38.4% | 43.2% | -20.3% |
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 256.14 |
| Mkt Cap | 65.9 |
| Rev LTM | 16,725 |
| Op Inc LTM | 3,354 |
| FCF LTM | 1,726 |
| FCF 3Y Avg | 1,700 |
| CFO LTM | 3,848 |
| CFO 3Y Avg | 3,500 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.3% |
| Rev Chg 3Y Avg | 6.4% |
| Rev Chg Q | 7.9% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 5.5% |
| Op Inc Chg 3Y Avg | 16.3% |
| Op Mgn LTM | 20.1% |
| Op Mgn 3Y Avg | 19.7% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 18.1% |
| CFO/Rev 3Y Avg | 18.5% |
| FCF/Rev LTM | 11.5% |
| FCF/Rev 3Y Avg | 11.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 65.9 |
| P/S | 4.5 |
| P/Op Inc | 20.7 |
| P/EBIT | 23.9 |
| P/E | 32.6 |
| P/CFO | 22.5 |
| Total Yield | 4.1% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.1% |
| 3M Rtn | 3.6% |
| 6M Rtn | 11.9% |
| 12M Rtn | 22.9% |
| 3Y Rtn | 61.7% |
| 1M Excs Rtn | -8.6% |
| 3M Excs Rtn | -2.9% |
| 6M Excs Rtn | 2.1% |
| 12M Excs Rtn | -6.9% |
| 3Y Excs Rtn | -22.4% |
Comparison Analyses
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Goodwill | 2,900 | 2,907 | 992 | 995 | 866 |
| Identifiable intangible assets, net | 2,541 | 2,792 | 535 | 556 | 493 |
| Specialty Products | 921 | 648 | 430 | 328 | 178 |
| Repair, Service & Leasing | 890 | 950 | 182 | 186 | 143 |
| Heat Transfer Systems | 670 | 561 | 299 | 226 | 247 |
| Cryo Tank Solutions | 614 | 706 | 382 | 407 | 399 |
| Corporate | 589 | 539 | 2,831 | 346 | 244 |
| Insurance receivable, net of tax | 251 | ||||
| Unallocated acquired assets | 0 | ||||
| Total | 9,124 | 9,102 | 5,902 | 3,044 | 2,570 |
Price Behavior
Price Behavior
| Market Price | $207.79 | |
| Market Cap ($ Bil) | 9.5 | |
| First Trading Date | 07/26/2006 | |
| Distance from 52W High | -0.3% | |
| 50 Days | 200 Days | |
| DMA Price | $207.44 | $203.59 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 0.2% | 2.1% |
| 3M | 1YR | |
| Volatility | 2.1% | 24.6% |
| Downside Capture | 0.04 | 0.11 |
| Upside Capture | 7.73 | 47.39 |
| Correlation (SPY) | 45.2% | 23.2% |
GTLS Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.06 | 0.06 | 0.07 | 0.08 | 0.58 | 1.69 |
| Up Beta | 0.06 | 0.06 | 0.05 | 0.08 | 0.93 | 1.56 |
| Down Beta | 0.08 | 0.06 | 0.05 | 0.07 | 0.32 | 2.06 |
| Up Capture | 5% | 6% | 7% | 10% | 60% | 406% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 10 | 19 | 29 | 68 | 132 | 391 |
| Down Capture | 23% | 8% | 9% | 4% | 36% | 110% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 11 | 23 | 34 | 54 | 114 | 355 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GTLS | |
|---|---|---|---|---|
| GTLS | 35.8% | 25.4% | 1.17 | - |
| Sector ETF (XLI) | 30.6% | 15.6% | 1.51 | 14.4% |
| Equity (SPY) | 28.1% | 12.5% | 1.78 | 22.4% |
| Gold (GLD) | 42.9% | 26.9% | 1.30 | -11.7% |
| Commodities (DBC) | 48.6% | 18.0% | 2.14 | 2.5% |
| Real Estate (VNQ) | 13.6% | 13.5% | 0.70 | 13.0% |
| Bitcoin (BTCUSD) | -22.4% | 41.7% | -0.50 | 4.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GTLS | |
|---|---|---|---|---|
| GTLS | 6.8% | 52.7% | 0.33 | - |
| Sector ETF (XLI) | 12.8% | 17.4% | 0.58 | 50.8% |
| Equity (SPY) | 12.9% | 17.1% | 0.59 | 47.7% |
| Gold (GLD) | 21.2% | 17.9% | 0.96 | 2.4% |
| Commodities (DBC) | 13.5% | 19.1% | 0.58 | 21.6% |
| Real Estate (VNQ) | 3.6% | 18.8% | 0.09 | 36.5% |
| Bitcoin (BTCUSD) | 8.5% | 56.0% | 0.36 | 20.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GTLS | |
|---|---|---|---|---|
| GTLS | 23.6% | 53.8% | 0.62 | - |
| Sector ETF (XLI) | 14.0% | 20.0% | 0.62 | 58.3% |
| Equity (SPY) | 15.0% | 17.9% | 0.72 | 52.6% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 3.9% |
| Commodities (DBC) | 9.5% | 17.7% | 0.45 | 28.0% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 42.3% |
| Bitcoin (BTCUSD) | 68.1% | 66.9% | 1.07 | 15.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/29/2025 | 0.0% | -0.1% | 2.1% |
| 7/29/2025 | 15.8% | 15.8% | 15.6% |
| 2/28/2025 | 4.6% | -20.9% | -19.2% |
| 11/1/2024 | 7.7% | 35.0% | 59.3% |
| 8/2/2024 | -18.1% | -22.5% | -20.4% |
| 2/28/2024 | 12.3% | 8.1% | 25.7% |
| 10/27/2023 | -24.9% | -16.5% | -10.2% |
| 7/28/2023 | 8.0% | 7.3% | 4.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 11 | 12 |
| # Negative | 5 | 7 | 6 |
| Median Positive | 8.0% | 13.8% | 16.0% |
| Median Negative | -9.9% | -7.4% | -17.0% |
| Max Positive | 17.2% | 40.3% | 70.0% |
| Max Negative | -24.9% | -22.5% | -34.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/29/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/29/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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