Kodiak Gas Services (KGS)
Market Price (6/24/2026): $71.67 | Market Cap: $6.2 BilSector: Energy | Industry: Oil & Gas Equipment & Services
Kodiak Gas Services (KGS)
Market Price (6/24/2026): $71.67Market Cap: $6.2 BilSector: EnergyIndustry: Oil & Gas Equipment & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% Low stock price volatilityVol 12M is 35% Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies. | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 91x Stock price has recently run up significantly12M Rtn12 month market price return is 120% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 89% Key risksKGS key risks include [1] significant stock price pressure from its largest shareholder, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies. |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 91x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 120% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 89% |
| Key risksKGS key risks include [1] significant stock price pressure from its largest shareholder, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Kodiak Gas Services (KGS) stock has gained about 30% since 2/28/2026 because of the following key factors:
1. Kodiak Gas Services reported robust financial performance in fiscal Q1 2026, which ended March 31, 2026, exceeding analyst expectations and significantly raising full-year guidance. The company's adjusted earnings per share (EPS) of $0.59 surpassed the consensus estimate of $0.54 by $0.05. Additionally, quarterly revenue grew 4.9% year-over-year to $345.76 million, exceeding analysts' projections of $340.23 million. A record adjusted EBITDA of $190.1 million was achieved, representing a 7.0% increase over fiscal Q1 2025. Following these strong results, Kodiak Gas Services increased its full-year 2026 adjusted EBITDA guidance to a range of $820 million to $860 million, and raised its full-year discretionary cash flow guidance to $520 million-$570 million.
2. The strategic acquisition of Distributed Power Solutions (DPS) and subsequent expansion into the power infrastructure segment have been key drivers for growth. Kodiak closed the DPS acquisition on April 1, 2026, establishing a new segment focused on providing distributed power solutions, particularly for data centers and large industrial clients. The company has already procured over 260 megawatts (MW) of additional power generation capacity and anticipates annual growth of 300 to 500 MW through 2030. This new segment is projected to generate $95 million to $125 million in revenue during fiscal year 2026, with some analysts forecasting it to contribute over 35% of Kodiak's EBITDA by 2030.
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Kodiak Gas Services (KGS) stock has gained about 30% since 2/28/2026 because of the following key factors:
1. Kodiak Gas Services reported robust financial performance in fiscal Q1 2026, which ended March 31, 2026, exceeding analyst expectations and significantly raising full-year guidance. The company's adjusted earnings per share (EPS) of $0.59 surpassed the consensus estimate of $0.54 by $0.05. Additionally, quarterly revenue grew 4.9% year-over-year to $345.76 million, exceeding analysts' projections of $340.23 million. A record adjusted EBITDA of $190.1 million was achieved, representing a 7.0% increase over fiscal Q1 2025. Following these strong results, Kodiak Gas Services increased its full-year 2026 adjusted EBITDA guidance to a range of $820 million to $860 million, and raised its full-year discretionary cash flow guidance to $520 million-$570 million.
2. The strategic acquisition of Distributed Power Solutions (DPS) and subsequent expansion into the power infrastructure segment have been key drivers for growth. Kodiak closed the DPS acquisition on April 1, 2026, establishing a new segment focused on providing distributed power solutions, particularly for data centers and large industrial clients. The company has already procured over 260 megawatts (MW) of additional power generation capacity and anticipates annual growth of 300 to 500 MW through 2030. This new segment is projected to generate $95 million to $125 million in revenue during fiscal year 2026, with some analysts forecasting it to contribute over 35% of Kodiak's EBITDA by 2030.
3. A wave of positive analyst sentiment and upgraded price targets fueled investor confidence. Numerous Wall Street analysts issued "Buy" or "Strong Buy" ratings for Kodiak Gas Services, with a consensus average 12-month price target ranging from approximately $75.22 to $82.21. Notable upgrades and initiations include Jefferies, which initiated coverage with a "Buy" rating and a $79.00 price target on June 4, 2026, citing an expected EBITDA growth exceeding 20%, which they described as the highest in the midstream sector. Other firms like Goldman Sachs, Mizuho, RBC Capital, Wells Fargo, and Barclays also reiterated "Buy" ratings and increased their price targets for KGS.
4. The company's core contract compression business continued its strong performance. Fiscal Q1 2026 saw record Contract Services segment revenues of $307.0 million, marking a 6.2% increase year-over-year. The adjusted gross margin percentage for Contract Services reached a company record of 70.6%. This robust performance was attributed to improved utilization rates across its compression fleet, reaching an impressive 98.0%, coupled with disciplined cost management and sustained high demand for natural gas compression services in key producing basins.
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Stock Movement Drivers
Fundamental Drivers
The 32.3% change in KGS stock from 2/28/2026 to 6/23/2026 was primarily driven by a 56.4% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6232026 | Change |
|---|---|---|---|
| Stock Price ($) | 54.21 | 71.69 | 32.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,308 | 1,324 | 1.2% |
| Net Income Margin (%) | 6.2% | 5.1% | -16.7% |
| P/E Multiple | 58.0 | 90.7 | 56.4% |
| Shares Outstanding (Mil) | 86 | 86 | 0.3% |
| Cumulative Contribution | 32.3% |
Market Drivers
2/28/2026 to 6/23/2026| Return | Correlation | |
|---|---|---|
| KGS | 32.3% | |
| Market (SPY) | 7.2% | 37.2% |
| Sector (XLE) | -2.0% | 24.9% |
Fundamental Drivers
The 107.1% change in KGS stock from 11/30/2025 to 6/23/2026 was primarily driven by a 125.7% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 6232026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.62 | 71.69 | 107.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,285 | 1,324 | 3.1% |
| Net Income Margin (%) | 5.8% | 5.1% | -12.1% |
| P/E Multiple | 40.2 | 90.7 | 125.7% |
| Shares Outstanding (Mil) | 87 | 86 | 1.3% |
| Cumulative Contribution | 107.1% |
Market Drivers
11/30/2025 to 6/23/2026| Return | Correlation | |
|---|---|---|
| KGS | 107.1% | |
| Market (SPY) | 8.0% | 25.2% |
| Sector (XLE) | 22.2% | 26.3% |
Fundamental Drivers
The 112.2% change in KGS stock from 5/31/2025 to 6/23/2026 was primarily driven by a 53.0% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6232026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.78 | 71.69 | 112.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,273 | 1,324 | 4.0% |
| Net Income Margin (%) | 3.9% | 5.1% | 30.4% |
| P/E Multiple | 59.3 | 90.7 | 53.0% |
| Shares Outstanding (Mil) | 88 | 86 | 2.3% |
| Cumulative Contribution | 112.2% |
Market Drivers
5/31/2025 to 6/23/2026| Return | Correlation | |
|---|---|---|
| KGS | 112.2% | |
| Market (SPY) | 25.9% | 23.9% |
| Sector (XLE) | 37.9% | 26.0% |
Fundamental Drivers
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Market Drivers
5/31/2023 to 6/23/2026| Return | Correlation | |
|---|---|---|
| KGS | ||
| Market (SPY) | 82.4% | 39.6% |
| Sector (XLE) | 56.8% | 45.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KGS Return | - | - | 31% | 115% | -4% | 92% | 421% |
| Peers Return | 1% | 19% | 61% | 67% | 17% | 39% | 428% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| KGS Win Rate | - | - | 57% | 75% | 42% | 83% | |
| Peers Win Rate | 38% | 62% | 62% | 58% | 46% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| KGS Max Drawdown | - | - | - | -14% | -39% | -14% | |
| Peers Max Drawdown | -26% | -37% | -22% | -26% | -36% | -13% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AROC, NGS.
[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 6/23/2026 (YTD)
How Low Can It Go
| Event | KGS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.2% | -18.8% |
| % Gain to Breakeven | 54.3% | 23.1% |
| Time to Breakeven | 303 days | 79 days |
In The Past
Kodiak Gas Services's stock fell -35.2% during the 2025 US Tariff Shock. Such a loss loss requires a 54.3% gain to breakeven.
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| Event | KGS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.2% | -18.8% |
| % Gain to Breakeven | 54.3% | 23.1% |
| Time to Breakeven | 303 days | 79 days |
In The Past
Kodiak Gas Services's stock fell -35.2% during the 2025 US Tariff Shock. Such a loss loss requires a 54.3% 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 Kodiak Gas Services (KGS)
Kodiak Gas Services (KGS) is a leading operator of contract compression infrastructure across the United States, providing essential services for the reliable production and transportation of natural gas and oil. The company specializes in deploying large horsepower compression units, which are critical for maintaining reservoir pressures and moving resources from unconventional plays. KGS operates under stable, fixed-revenue contracts, ensuring a predictable and recurring cash flow from its operations.
The company strategically focuses its substantial 3.2 million horsepower fleet, with 84% deployed in the Permian Basin and Eagle Ford Shale. These regions are anticipated to maintain significant production volumes through at least 2050, driven by their vast, low-cost unconventional resources and increasing demand from liquefied natural gas (LNG) export projects, all of which require substantial additional compression horsepower. KGS serves a strong base of blue-chip upstream and midstream customers, including S&P 500 constituents and investment-grade rated companies, with its top four customers contributing significantly to its total revenues.
Kodiak Gas Services differentiates itself through a partnership-focused business model emphasizing high reliability and operational excellence. The company boasts an industry-leading historical average mechanical availability of over 99.5% and a five-year average fleet utilization of 99%. This operational efficiency, coupled with its focus on large horsepower units that command longer initial contracts and higher margins, underpins its strategy for generating strong returns. Furthermore, KGS is committed to sustainability, aiming to innovate processes and technologies that help customers meet their emission reduction goals while maintaining a safe and ethical operational environment.
AI Analysis | Feedback
Here are a few brief analogies to describe Kodiak Gas Services:
- Think of them as the United Rentals for large-scale natural gas compression equipment and operations.
- They are like the Equinix for physical energy infrastructure, providing critical, reliable compression as a service to major energy companies.
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- Contract Natural Gas Compression Services: Kodiak Gas Services provides and operates large horsepower natural gas compression units under fixed-revenue contracts for upstream and midstream customers, primarily in the Permian Basin and Eagle Ford Shale, to support natural gas and oil production.
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Based on the provided company description, Kodiak Gas Services (KGS) sells primarily to other companies in the upstream and midstream sectors. While the company highlights its reliance on its four largest customers, the specific names and symbols of these major customers are not disclosed in the provided text.
The description characterizes these four largest customers as:
- S&P 500 constituents
- Investment grade rated upstream and midstream companies
- Operating in the Permian Basin
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Robert "Mickey" McKee President and Chief Executive Officer
Robert "Mickey" McKee founded the Kodiak group of companies in 2010, serving as its President since formation and Chief Executive Officer since 2019. Before founding Kodiak, he was the Senior Vice President of Sales and Engineering for CDM Resource Management, LLC, a provider of contract natural gas compression services, from 2003 to 2010. He has 22 years of experience in natural gas compression operations. Kodiak received early funding from private equity firm The Stephens Group, LLC in 2011.
John B. Griggs Executive Vice President and Chief Financial Officer
John Griggs joined Kodiak in 2023 as Executive Vice President and Chief Financial Officer. He previously served as CFO at Circulus Holdings from 2021 to 2023, Conquest Completion Services from 2018 to 2021, and Rubicon Oilfield International from 2015 to 2018. From 2011 through 2014, he was a Managing Director at CSL Capital Management, an energy private equity firm. Prior to that, from 2005 through 2011, he was a Senior Vice President for the direct capital arm of the D. E. Shaw Group, focusing on direct debt and equity investments in energy companies. This demonstrates a pattern of managing companies and involvement with private equity firms.
Chad Lenamon Executive Vice President and Chief Operations Officer
Chad Lenamon serves as Kodiak's Executive Vice President and Chief Operations Officer, having joined the company in 2019. With over 25 years of experience, his prior roles include serving as President of CDM Resource Management, LLC, a contract natural gas compression services provider, and Pegasus Optimization Managers, LLC.
Steven L. Green Executive Vice President and Chief Commercial Officer
Steven Green joined Kodiak in 2025 as Executive Vice President and Chief Commercial Officer. He brings over 18 years of experience in midstream oil and gas operations. Before Kodiak, he founded and served as the Chief Executive Officer of Piñon Midstream, LLC, a private equity-backed company focused on sour gas gathering, treating, and sequestration of carbon dioxide, from 2020 to 2024.
Jason Stewart Executive Vice President, Corporate Development and Treasurer
Jason Stewart joined Kodiak in 2016 as Executive Vice President of Corporate Development and was appointed Treasurer in 2023. His previous experience includes senior origination and underwriting roles at PNC Business Credit, SunTrust Robinson Humphrey, and CIT Energy, and he also served as Chief Financial Officer of Enerven Compression.
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Key Risks to Kodiak Gas Services
- Customer Concentration: A significant portion of Kodiak Gas Services' total revenues, approximately 38% and 39% for the three months ended March 31, 2023, and the year ended December 31, 2022, respectively, is derived from its four largest customers. The loss of one or more of these key customers could materially and adversely affect the company's financial condition and results of operations.
- Dependence on Natural Gas and Oil Production and Demand: Kodiak Gas Services' business is intrinsically tied to the production and demand for natural gas and oil. While the company operates in regions expected to maintain significant production volumes and benefits from growing LNG export capacity, a global acceleration towards a lower carbon future, significant declines in natural gas and oil prices, or reduced demand for fossil fuels could negatively impact the need for its compression services and the financial health of its customers.
- Geographical Concentration: A substantial majority, 84%, of Kodiak Gas Services' compression assets are strategically deployed in the Permian Basin and Eagle Ford Shale. Adverse economic, regulatory, or operational developments specific to these two regions, such as changes in drilling activity, production curtailments, or environmental policies, could disproportionately affect the company's operations and financial performance.
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Kodiak Gas Services (KGS) operates in the contract compression infrastructure sector, primarily focusing on large horsepower natural gas compression units in the United States, with a significant presence in the Permian Basin and Eagle Ford Shale.
While specific addressable market sizes for "contract compression services" are not explicitly provided in the search results, the closest quantifiable addressable market for Kodiak Gas Services' offerings can be represented by the broader natural gas compressor market in North America and the U.S.
The North American natural gas compressor market was valued at approximately USD 1.90 billion in 2024. Projections indicate that the North American market, which held over 37% of the global revenue, had a market size of approximately USD 2.04 billion (USD 2043.1 million) in 2025. Specifically for the U.S., the natural gas compressor market was valued at USD 1.67 billion in 2025 and approximately USD 1.61 billion (USD 1612 million) in 2025, with an anticipated compound annual growth rate (CAGR) of 2.6% over the analysis period.
The Permian Basin's gas compression market, a key region for Kodiak, is projected to grow at a CAGR of 6.8% through 2028. Customer demand for large horsepower compression infrastructure, particularly in the Permian Basin, remains strong.
AI Analysis | Feedback
Kodiak Gas Services (KGS) is poised for future revenue growth over the next 2-3 years, driven by several key factors in the evolving energy landscape:
- Strong Demand for Large Horsepower Contract Compression: The company anticipates continued robust demand for its large horsepower compression units, particularly in key regions like the Permian Basin and Eagle Ford Shale. Production from unconventional resources in these basins requires significant compression, which underpins Kodiak's strategy and is expected to drive ongoing revenue.
- Strategic Expansion into Distributed Power Generation: Kodiak's acquisition of Distributed Power Solutions (DPS) is a significant new growth vector. This expansion into distributed power generation is expected to accelerate growth post-closure, adding to the company's revenue streams beyond its core compression services.
- Organic Fleet Growth and New Unit Deployments: Kodiak plans substantial organic growth of its compression fleet. The company aims to deploy approximately 150,000 new unit horsepower in 2026 as part of a larger strategy to deploy over 750,000 new large horsepower compression units by 2030, primarily focusing on increasing capacity in high-demand areas like the Permian Basin.
- Favorable Recontracting and Pricing Environment: Kodiak has benefited from and expects to continue realizing revenue growth through recontracting existing units at higher rates. The company also anticipates margin expansion in its Contract Services segment through a combination of price improvements and efficient cost management.
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Capital Allocation Decisions for Kodiak Gas Services (KGS)
Share Repurchases
- Kodiak Gas Services announced a $50 million share repurchase program on November 14, 2024, which was authorized to extend through December 31, 2025.
- The company executed a $50 million repurchase of common stock from Frontier TopCo Partnership, L.P. on August 11, 2025, part of its existing repurchase program.
- In 2025, Kodiak returned over $263 million to shareholders through dividends and share repurchases, including over $100 million in stock repurchases.
Share Issuance
- Kodiak Gas Services completed its Initial Public Offering (IPO) on June 29, 2023, issuing 16,000,000 shares at a price of $16.00 per share, raising $256.0 million.
- As part of its agreement to acquire Distributed Power Solutions (DPS), Kodiak will issue 2,401,278 shares, valued at approximately $100 million.
Inbound Investments
- EQT, through its Infrastructure III and IV funds, was the largest shareholder in Kodiak Gas Services prior to its IPO in 2023, having initially invested in 2019.
- EQT fully exited its investment in Kodiak Gas Services on December 11, 2025, through a series of staged sell-downs over a 30-month period following the IPO.
Outbound Investments
- Kodiak Gas Services entered into a definitive agreement to acquire Distributed Power Solutions (DPS) for approximately $675 million, consisting of $575 million in cash and the issuance of 2,401,278 shares.
- The acquisition of Distributed Power Solutions is expected to close in early April 2026.
Capital Expenditures
- For 2026, Kodiak anticipates growth capital expenditures between $235 million and $265 million, aiming to add approximately 150,000 new unit horsepower.
- Expected maintenance capital expenditures for 2026 are projected between $75 million and $85 million, with other capital expenditures ranging from $40 million to $50 million.
- The company plans to deploy over 750,000 new large horsepower compression units by the end of 2030, driven by demand in key basins like the Permian.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 44.13 |
| Mkt Cap | 6.2 |
| Rev LTM | 1,324 |
| Op Inc LTM | 418 |
| FCF LTM | 200 |
| FCF 3Y Avg | 90 |
| CFO LTM | 557 |
| CFO 3Y Avg | 414 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.3% |
| Rev Chg 3Y Avg | 23.1% |
| Rev Chg Q | 7.7% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 27.6% |
| Op Inc Chg 3Y Avg | 54.3% |
| Op Mgn LTM | 31.5% |
| Op Mgn 3Y Avg | 28.3% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 42.0% |
| CFO/Rev 3Y Avg | 35.5% |
| FCF/Rev LTM | 15.1% |
| FCF/Rev 3Y Avg | 6.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.2 |
| P/S | 4.5 |
| P/Op Inc | 12.7 |
| P/EBIT | 13.1 |
| P/E | 25.4 |
| P/CFO | 9.8 |
| Total Yield | 4.4% |
| Dividend Yield | 1.4% |
| FCF Yield 3Y Avg | 1.7% |
| D/E | 0.4 |
| Net D/E | 0.4 |
Price Behavior
| Market Price | $71.69 | |
| Market Cap ($ Bil) | 6.2 | |
| First Trading Date | 06/29/2023 | |
| Distance from 52W High | -5.5% | |
| 50 Days | 200 Days | |
| DMA Price | $68.38 | $47.90 |
| DMA Trend | up | up |
| Distance from DMA | 4.8% | 49.7% |
| 3M | 1YR | |
| Volatility | 34.4% | 35.1% |
| Downside Capture | 62.74 | 6.33 |
| Upside Capture | 106.52 | 97.39 |
| Correlation (SPY) | 31.5% | 26.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.18 | 0.40 | 0.75 | 0.57 | 0.63 | 0.09 |
| Up Beta | -1.93 | 0.03 | 0.06 | 0.55 | 1.14 | -0.03 |
| Down Beta | 0.09 | 0.42 | 1.25 | 0.55 | 0.86 | 0.30 |
| Up Capture | 43% | 79% | 118% | 144% | 66% | 81% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 25 | 37 | 78 | 144 | 405 |
| Down Capture | 151% | 35% | 63% | -33% | -13% | 70% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 12 | 16 | 25 | 45 | 103 | 317 |
[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 KGS | |
|---|---|---|---|---|
| KGS | 117.8% | 35.1% | 2.26 | - |
| Sector ETF (XLE) | 26.5% | 20.9% | 1.02 | 26.9% |
| Equity (SPY) | 24.6% | 12.5% | 1.48 | 25.7% |
| Gold (GLD) | 21.8% | 27.6% | 0.70 | 1.6% |
| Commodities (DBC) | 16.7% | 18.8% | 0.69 | 5.5% |
| Real Estate (VNQ) | 12.3% | 13.8% | 0.60 | 22.5% |
| Bitcoin (BTCUSD) | -38.0% | 42.5% | -1.01 | 3.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KGS | |
|---|---|---|---|---|
| KGS | 39.5% | 37.9% | 1.56 | - |
| Sector ETF (XLE) | 18.5% | 26.1% | 0.64 | 45.8% |
| Equity (SPY) | 13.1% | 17.1% | 0.59 | 39.6% |
| Gold (GLD) | 16.8% | 18.3% | 0.74 | 8.6% |
| Commodities (DBC) | 7.3% | 19.4% | 0.28 | 25.7% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.03 | 25.8% |
| Bitcoin (BTCUSD) | 9.7% | 54.1% | 0.38 | 14.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KGS | |
|---|---|---|---|---|
| KGS | 18.1% | 37.9% | 1.56 | - |
| Sector ETF (XLE) | 9.3% | 29.6% | 0.36 | 45.8% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 39.6% |
| Gold (GLD) | 11.9% | 16.1% | 0.61 | 8.6% |
| Commodities (DBC) | 5.9% | 18.0% | 0.25 | 25.7% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 25.8% |
| Bitcoin (BTCUSD) | 57.0% | 66.5% | 0.97 | 14.1% |
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Returns Analyses
Earnings Returns History
Updated 6/12/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/11/2026 | 8.4% | 5.5% | -3.0% |
| 2/25/2026 | 4.0% | 10.3% | 11.4% |
| 11/4/2025 | -6.5% | -5.9% | 1.3% |
| 8/6/2025 | -0.5% | 9.2% | 10.5% |
| 5/8/2025 | 0.6% | 0.5% | -1.1% |
| 3/6/2025 | -1.2% | 4.7% | -9.3% |
| 11/7/2024 | 0.8% | 3.6% | 20.2% |
| 8/13/2024 | -1.9% | -0.9% | 0.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 8 | 7 |
| # Negative | 6 | 4 | 5 |
| Median Positive | 1.2% | 5.1% | 9.2% |
| Median Negative | -1.7% | -2.0% | -6.9% |
| Max Positive | 8.4% | 10.3% | 20.2% |
| Max Negative | -6.5% | -5.9% | -9.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/11/2026 | 8.4% | 5.5% | -3.0% |
| 2/25/2026 | 4.0% | 10.3% | 11.4% |
| 11/4/2025 | -6.5% | -5.9% | 1.3% |
| 8/6/2025 | -0.5% | 9.2% | 10.5% |
| 5/8/2025 | 0.6% | 0.5% | -1.1% |
| 3/6/2025 | -1.2% | 4.7% | -9.3% |
| 11/7/2024 | 0.8% | 3.6% | 20.2% |
| 8/13/2024 | -1.9% | -0.9% | 0.5% |
| 5/8/2024 | 1.0% | 1.5% | -6.9% |
| 3/6/2024 | -5.7% | -3.2% | 5.5% |
| 11/8/2023 | 1.3% | 6.4% | 9.2% |
| 8/9/2023 | -1.4% | -0.2% | -7.0% |
| SUMMARY STATS | |||
| # Positive | 6 | 8 | 7 |
| # Negative | 6 | 4 | 5 |
| Median Positive | 1.2% | 5.1% | 9.2% |
| Median Negative | -1.7% | -2.0% | -6.9% |
| Max Positive | 8.4% | 10.3% | 20.2% |
| Max Negative | -6.5% | -5.9% | -9.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 06/30/2023 | 424B4 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 06/30/2023 | 424B4 |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | 820.00 Mil | 840.00 Mil | 860.00 Mil | 9.8% | Raised | Guidance: 765.00 Mil for 2026 | |
| 2026 Discretionary cash flow | 520.00 Mil | 545.00 Mil | 570.00 Mil | 10.1% | Raised | Guidance: 495.00 Mil for 2026 | |
| 2026 Compression Infrastructure revenue | 1.25 Bil | 1.26 Bil | 1.28 Bil | 0.4% | Raised | Guidance: 1.26 Bil for 2026 | |
| 2026 Other Services revenue | 125.00 Mil | 142.50 Mil | 160.00 Mil | 3.6% | Raised | Guidance: 137.50 Mil for 2026 | |
| 2026 Power Infrastructure revenue | 95.00 Mil | 110.00 Mil | 125.00 Mil | ||||
Prior: Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | 750.00 Mil | 765.00 Mil | 780.00 Mil | 7.4% | Raised | Actual: 712.50 Mil for 2025 | |
| 2026 Discretionary cash flow | 480.00 Mil | 495.00 Mil | 510.00 Mil | 7.6% | Raised | Actual: 460.00 Mil for 2025 | |
| 2026 Contract Services revenues | 1.24 Bil | 1.26 Bil | 1.28 Bil | 6.8% | Raised | Actual: 1.18 Bil for 2025 | |
| 2026 Contract Services adjusted gross margin percentage | 67.5% | 68.5% | 69.5% | 0.7% | 0.5% | Raised | Actual: 68.0% for 2025 |
| 2026 Other Services revenues | 125.00 Mil | 137.50 Mil | 150.00 Mil | 5.8% | Raised | Actual: 130.00 Mil for 2025 | |
| 2026 Other Services adjusted gross margin percentage | 13.0% | 14.5% | 16.0% | -6.4% | -1.0% | Lowered | Actual: 15.5% for 2025 |
| 2026 Maintenance capital expenditures | 75.00 Mil | 80.00 Mil | 85.00 Mil | 0 | Affirmed | Actual: 80.00 Mil for 2025 | |
| 2026 Growth capital expenditures | 2.35E10% | 2.5E10% | 2.65E10% | 29.9% | Raised | Actual: 1.925E10% for 2025 | |
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hamilton, Ewan William | EVP & Chief Accounting Officer | Direct | Sell | 6162026 | 68.62 | 2,729 | 187,264 | 2,169,559 | Form |
| 2 | Lenamon, William Chad | Executive Vice President & COO | Direct | Sell | 6112026 | 67.79 | 1,000 | 67,790 | 6,163,331 | Form |
| 3 | Buhigas, Pedro R | Chief Information Officer | Direct | Sell | 3202026 | 55.73 | 13,942 | 776,988 | 2,380,953 | Form |
| 4 | Hamilton, Ewan William | EVP & Chief Accounting Officer | Direct | Sell | 3182026 | 56.18 | 5,797 | 325,675 | 1,929,558 | Form |
| 5 | Roclawski, Cory Anne | EVP & CHRO | Direct | Sell | 3172026 | 54.41 | 10,852 | 590,457 | 1,708,746 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hamilton, Ewan William | EVP & Chief Accounting Officer | Direct | Sell | 6162026 | 68.62 | 2,729 | 187,264 | 2,169,559 | Form |
| 2 | Lenamon, William Chad | Executive Vice President & COO | Direct | Sell | 6112026 | 67.79 | 1,000 | 67,790 | 6,163,331 | Form |
| 3 | Buhigas, Pedro R | Chief Information Officer | Direct | Sell | 3202026 | 55.73 | 13,942 | 776,988 | 2,380,953 | Form |
| 4 | Hamilton, Ewan William | EVP & Chief Accounting Officer | Direct | Sell | 3182026 | 56.18 | 5,797 | 325,675 | 1,929,558 | Form |
| 5 | Roclawski, Cory Anne | EVP & CHRO | Direct | Sell | 3172026 | 54.41 | 10,852 | 590,457 | 1,708,746 | Form |
| 6 | Hamilton, Ewan William | EVP & Chief Accounting Officer | Direct | Sell | 3172026 | 55.25 | 2,091 | 115,528 | 2,217,901 | Form |
| 7 | Hamilton, Ewan William | EVP & Chief Accounting Officer | Direct | Sell | 3162026 | 54.75 | 4,830 | 264,442 | 2,312,312 | Form |
| 8 | Darden, Alexander Newsom | Direct | Buy | 3162026 | 54.75 | 5,000 | 273,750 | 273,750 | Form | |
| 9 | Hogan, Randall J | Direct | Buy | 3162026 | 54.81 | 6,000 | 328,860 | 1,556,933 | Form | |
| 10 | Roclawski, Cory Anne | EVP & CHRO | Direct | Sell | 3162026 | 56.52 | 21,161 | 1,196,020 | 2,388,366 | Form |
| 11 | McKee, Robert Michael | President & CEO | Direct | Buy | 2242026 | 50.23 | 433 | 21,772 | 9,423,828 | Form |
| 12 | Frontier, Topco Partnership, LP | Held by Frontier TopCo Partnership, L.P. | Sell | 12032025 | 34.37 | 9,762,573 | Form | |||
| 13 | Frontier, Topco Partnership, LP | Held by Frontier TopCo Partnership, L.P. | Sell | 11142025 | 33.32 | 10,000,000 | 333,210,000 | 325,298,695 | Form | |
| 14 | Frontier, Topco Partnership, LP | Held by Frontier TopCo Partnership, L.P. | Sell | 9102025 | 34.21 | 10,000,000 | 342,110,000 | 676,097,385 | Form |
Industry Resources
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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