Tearsheet

Kodiak Gas Services (KGS)

Market Price (12/4/2025): $35.27 | Market Cap: $3.1 Bil
Sector: Energy | Industry: Oil & Gas Equipment & Services

Kodiak Gas Services (KGS)

Market Price (12/4/2025): $35.27
Market Cap: $3.1 Bil
Sector: Energy
Industry: Oil & Gas Equipment & Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 19%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 83%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 41%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 43x
2	Attractive yield FCF Yield is 5.8%	Weak revenue growth Rev Chg QQuarterly Revenue Change % is -0.6%
3	Low stock price volatility Vol 12M is 45%
4	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 19%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 41%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
2	Attractive yield FCF Yield is 5.8%
3	Low stock price volatility Vol 12M is 45%
4	Megatrend and thematic drivers Megatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies.
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 83%
6	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 43x
7	Weak revenue growth Rev Chg QQuarterly Revenue Change % is -0.6%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$35.27	$38.85	$18.05
Market Cap CYE ($ Bil)	3.1	3.4	1.4	-	-
Total Debt ($ Bil)	2.7	2.6	1.8	2.7	1.8
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	5.7	6.0	3.2
Valuation Ratios
P/S TTM	2.5	2.9	1.6	0.0	0.0
P/EBIT TTM	10.4	12.4	5.3	0.0	0.0
P/E TTM	42.9	68.0	68.1	0.0	0.0
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0	0.0	0.0

	12/4/25	2024	2023
Share Price CYE	$35.27	$38.85	$18.05
Market Cap CYE ($ Bil)	3.1	3.4	1.4
Total Debt ($ Bil)	2.7	2.6	1.8
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	5.7	6.0	3.2
Valuation Ratios
P/S TTM	2.5	2.9	1.6
P/EBIT TTM	10.4	12.4	5.3
P/E TTM	42.9	68.0	68.1
Sector Ratios
P/S TTM (Sector)	0.0	0.0	0.0
P/EBIT TTM (Sector)	0.0	0.0	0.0
P/E TTM (Sector)	0.0	0.0	0.0

	KGS	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	1.3
Rev Chg Q	-0.6%	7.1%
Rev Chg LTM	19.4%	6.1%
Rev Chg 3Y Avg	26.6%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.4
CFO LTM ($ Bil)	0.5
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	30.9%	18.8%
CFO/Rev LTM	40.7%	20.5%
Net Inc Mgn	5.8%	13.1%
VALUATION	HIGH
P/S	2.5	3.2
P/CFO	6.2	15.8
P/FCF	17.2	20.5
P/E	42.9	23.5
STABILITY	POOR
Debt/Equity	0.83	0.20
Cash/Assets	0.00	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Fleet Horsepower	4.4 million	8152025	Link
Fleet Utilization Rate	97%	8152025	Link
Average Age of Large Horsepower	~7 years	8152025	Link
Number of Employees	1.3K	1172025	Link

Upcoming
3/04/2026	Earnings Release	Rev: - EPS: -

KGS Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

I am unable to provide specific key points for a -0.2% stock movement for Kodiak Gas Services (KGS) for the approximate time period from August 31, 2025, to December 4, 2025, as comprehensive historical stock price data for the entire specified period is not available.

Stock Movement Drivers

Fundamental Drivers

The 1.0% change in KGS stock from 9/3/2025 to 12/3/2025 was primarily driven by a 11.4% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	34.91	35.26	1.00%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1286.65	1284.75	-0.15%
Net Income Margin (%)	6.48%	5.84%	-9.90%
P/E Multiple	36.73	40.94	11.44%
Shares Outstanding (Mil)	87.70	87.06	0.73%
Cumulative Contribution			1.00%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
KGS	1.0%
Market (SPY)	6.2%	25.8%
Sector (XLE)	3.8%	34.5%

Fundamental Drivers

The 0.7% change in KGS stock from 6/4/2025 to 12/3/2025 was primarily driven by a 48.4% change in the company's Net Income Margin (%).

	6042025	12032025	Change
Stock Price ($)	35.03	35.26	0.66%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1273.46	1284.75	0.89%
Net Income Margin (%)	3.93%	5.84%	48.42%
P/E Multiple	61.48	40.94	-33.41%
Shares Outstanding (Mil)	87.88	87.06	0.94%
Cumulative Contribution			0.65%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
KGS	0.7%
Market (SPY)	15.1%	24.3%
Sector (XLE)	13.0%	25.3%

Fundamental Drivers

The -8.5% change in KGS stock from 12/3/2024 to 12/3/2025 was primarily driven by a -69.8% change in the company's P/E Multiple.

	12032024	12032025	Change
Stock Price ($)	38.53	35.26	-8.48%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1075.77	1284.75	19.43%
Net Income Margin (%)	2.23%	5.84%	162.27%
P/E Multiple	135.66	40.94	-69.82%
Shares Outstanding (Mil)	84.29	87.06	-3.28%
Cumulative Contribution			-8.58%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
KGS	-8.5%
Market (SPY)	14.3%	57.1%
Sector (XLE)	-0.5%	50.5%

Fundamental Drivers

null
null

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
KGS	113.4%
Market (SPY)	53.2%	46.4%
Sector (XLE)	15.0%	51.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
KGS Return	-	-	-	-	115%	-11%	92%
Peers Return	-21%	-22%	48%	13%	36%	16%	62%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
KGS Win Rate	-	-	-	50%	75%	50%
Peers Win Rate	30%	25%	38%	33%	28%	38%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
KGS Max Drawdown	-	-	-	-	0%	-25%
Peers Max Drawdown	-46%	-29%	-12%	-15%	-10%	-19%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: FTI, HLX, FTK, HMH, WBI.
[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] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

KGS has limited trading history. Below is the Energy sector ETF (XLE) in its place.

Unique Key	Event	XLE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	116 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-60.6%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	153.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	660 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-31.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	46.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1201 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-57.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	137.1%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1858 days	1480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 6/8/2022. A -26.9% loss requires a 36.7% gain to breakeven.

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About Kodiak Gas Services (KGS)

We are a leading operator of contract compression infrastructure in the United States (“U.S.”). Our compression operations are critical to our customers’ ability to reliably produce natural gas and oil to support growing global energy demand. We are a market leader in the Permian Basin, which is the largest producing natural gas and oil basin in the U.S. We operate our large horsepower compression units under stable, fixed-revenue contracts with blue-chip upstream and midstream customers. Our compression assets have long useful lives consistent with the expected production lives of the key regions where we operate. We believe our partnership-focused business model positions us as the preferred contract compression operator for our customers and creates long-standing relationships. We strategically invest in the training, development, and retention of our highly skilled and dedicated employees and believe their expertise and commitment to excellence enhances and differentiates our business model. Furthermore, we maintain an intense focus on being one of the most sustainable and responsible operators of contract compression infrastructure. Eighty-four percent of our compression assets are strategically deployed in the Permian Basin and Eagle Ford Shale, which the EIA expects to maintain significant production volumes through at least 2050. We believe these two regions have the largest and lowest-cost unconventional resources in the U.S. Additionally, there are significant liquefied natural gas (“LNG”) export projects in development, and overall LNG capacity is expected to meaningfully grow over the next decade. We expect this to translate into Permian Basin and Eagle Ford Shale natural gas production growth, requiring substantial additional compression horsepower. We believe these regions will play an increasingly important role in global energy security as the world continues to require reliable and growing natural gas and oil production to support increasing global energy demand. We are a leader in large horsepower compression, with approximately 81% of our approximately 3.2 million horsepower fleet comprised of compression units larger than 1,000 horsepower. Due to lower initial reservoir pressures, production from unconventional resources, such as the Permian Basin and Eagle Ford Shale, requires significantly more compression horsepower than from conventional production, which supports our large horsepower strategy. Additionally, increased demand for large horsepower infrastructure is driven by multi-well pad drilling, overall well density, and large-scale gathering systems. We believe large horsepower compression units serve more stable applications, receive longer initial contracts, are more likely to be renewed, and produce higher margins, ultimately generating recurring cash flow and return on invested capital. We believe the quality of our relationships with blue-chip customers, the reliability of our compression operations and the structure of our contracts produce stable, recurring cash flow. We derive substantially all of our revenues from fixed-revenue contracts. Approximately 38% and 39% of our total revenues come from our four largest customers for the three months ended March 31, 2023 and the year ended December 31, 2022, respectively, which customers are all S&P 500 constituents and investment grade rated upstream and midstream companies in the Permian Basin. Our partnership-focused business model provides best-in-class reliability, which we believe is critical to securing and maintaining long-term relationships with our customers. Our assets and supporting operations have an industry-leading historical average mechanical availability (which measures the percentage of time in a given period that compression operations are being provided or are capable of being provided) of over 99.5% since inception. The strength of our customer relationships and contract structures, combined with the reliability and critical nature of our assets, have resulted in a five-year 99% average fleet utilization (which measures the revenue-generating horsepower divided by our total fleet horsepower). --- Countries around the world are moving toward a lower carbon future while providing secure low-cost sources of energy for their citizens. Recent world events have resulted in renewed attention on environmentally responsible and secure energy production provided by the U.S., and we are committed to continuing to play a meaningful role in our industry. We are focused on being the most resilient and sustainable enterprise, and we have ambitious sustainability goals. We will continue to innovate processes and technologies to assist our customers in meeting their emission reduction goals, while striving to provide a safe, inclusive and supportive environment for our employees and the communities where we operate. Finally, we intend to do business with integrity and ethics and maintain a corporate governance structure that includes appropriate oversight and transparency in all aspects of our operations. Our principal executive offices are located at 15320 Highway 105 W, Suite 210, Montgomery, Texas.

AI Generated Analysis | Feedback

Analogies for Kodiak Gas Services (KGS):

United Rentals for natural gas compression.
Amazon Web Services (AWS) for industrial gas compression.

AI Generated Analysis | Feedback

Contract Natural Gas Compression Services: Kodiak Gas Services provides and operates natural gas compression equipment under long-term contracts for energy producers and midstream customers.
Compression Equipment Sales: Kodiak Gas Services manufactures and sells natural gas compression units to customers who prefer to own and operate their own equipment.

AI Generated Analysis | Feedback

Kodiak Gas Services (KGS) primarily sells its natural gas compression services and technology to other companies within the energy industry, rather than directly to individuals.

According to Kodiak Gas Services' Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission, no single customer accounted for 10% or more of the company's consolidated revenues for the years ended December 31, 2023, 2022, and 2021. This indicates a diversified customer base, and as such, no individually "major customers" (defined as accounting for 10% or more of revenue) are disclosed by name.

Kodiak Gas Services' customer base generally consists of the following categories of companies:

Oil and gas exploration and production (E&P) companies
Midstream companies (involved in the gathering, processing, and transportation of oil and gas)
Other natural gas infrastructure companies

AI Generated Analysis | Feedback

The major suppliers for Kodiak Gas Services are:

Caterpillar Inc. (CAT)
Ariel Corporation

AI Generated Analysis | Feedback

Robert "Mickey" McKee, President and Chief Executive Officer

Robert "Mickey" McKee formed the Kodiak group of companies in 2010 and has served as President since formation and Chief Executive Officer since 2019. He has 22 years of experience in natural gas compression operations. Prior to founding Kodiak, Mr. McKee was the Senior Vice President of Sales and Engineering for CDM Resource Management, LLC from 2003 to 2010.

John B. Griggs, Executive Vice President and Chief Financial Officer

John B. Griggs joined Kodiak in 2023. He previously held CFO roles at Circulus Holdings (2021-2023), Conquest Completion Services (2018-2021), and Rubicon Oilfield International (2015-2018). From 2011 through 2014, Mr. Griggs was a Managing Director at CSL Capital Management, an energy private equity firm.

Chad Lenamon, Executive Vice President and Chief Operations Officer

Chad Lenamon joined Kodiak in 2019. His 25-year career includes various operations, engineering, fleet management, and supply chain roles, such as President of CDM Resource Management, LLC and Pegasus Optimization Managers, LLC.

Steven L. Green, Executive Vice President and Chief Commercial Officer

Steven L. Green joined Kodiak in 2025. He has over 18 years of experience in midstream oil and gas operations. Prior to Kodiak, he founded and served as the Chief Executive Officer of Piñon Midstream, LLC, a private equity-backed company, from 2020 to 2024.

Jason Stewart, Executive Vice President, Corporate Development and Treasurer

Jason Stewart has served as Executive Vice President of Corporate Development since 2016 and was appointed Treasurer in 2023. He previously held senior origination and underwriting roles at PNC Business Credit, SunTrust Robinson Humphrey, and CIT Energy, and served as the Chief Financial Officer of Enerven Compression.

AI Generated Analysis | Feedback

Accelerating Energy Transition and Decarbonization Efforts: The global push towards reducing reliance on fossil fuels, driven by climate change concerns, government policies (e.g., methane regulations, carbon pricing), and increasing investment in renewable energy sources, poses a clear emerging threat. As natural gas demand potentially flattens or declines in the long term, or as the regulatory burden on gas production/transportation increases, the need for Kodiak Gas Services' compression services could diminish. This represents a fundamental long-term challenge to the growth and sustainability of their core market, despite natural gas often being viewed as a "bridge fuel."

Electrification of Natural Gas Compression and Emergence of Alternative Technologies: There is a growing trend within the oil and gas industry towards electrifying operational equipment, including compressors, to reduce emissions, improve operational efficiency, and lower fuel costs. Kodiak Gas Services' current fleet predominantly consists of natural gas-powered compression units. A rapid shift in customer preference or regulatory requirements towards electric-driven compression or other alternative technologies could render parts of their existing asset base less competitive or obsolete, requiring significant capital expenditure for fleet modernization or conversion. This directly threatens their market share if competitors are faster to adopt or offer these solutions.

AI Generated Analysis | Feedback

Kodiak Gas Services (KGS) primarily operates within the natural gas contract compression services market, providing critical infrastructure for the production, gathering, processing, and transportation of natural gas and oil. The company's main offerings include contract compression services, equipment leasing and sales, and maintenance and support services. KGS is a significant player in the United States, particularly in major producing basins like the Permian Basin. The addressable market for Kodiak Gas Services can be understood through the broader natural gas compressor market and the more specific contract compression services market.

Natural Gas Compressor Market

The global natural gas compressor market was valued at approximately USD 5.2 billion in 2024 and is projected to reach USD 7.8 billion by 2034, growing at a CAGR of 2.3% from 2025 to 2033. Other reports indicate the global market size was USD 7.8 billion in 2025, with a forecast to reach USD 11.2 billion by 2034, expanding at a CAGR of about 4.1% during that period. Another source stated the global market size for natural gas compressors was USD 5.5218 billion in 2025, expanding at a CAGR of 5% from 2025 to 2033. North America is a leading region in the natural gas compressor market, accounting for approximately 40% of the market share, and is expected to dominate due to extensive shale gas production and significant investments in natural gas infrastructure. In 2025, North America's natural gas compressor market size was estimated at USD 2.0431 billion, representing over 37% of the global revenue, and is projected to grow at a CAGR of 2.8% from 2025 to 2033. The United States is expected to be the largest market for compressors in North America due to increasing energy demand and growth in natural gas for power generation.

Contract Compression Services Market

The broader compression services market, which includes contract compression, is projected to grow at a CAGR of 5.2% from 2023 to 2030, reaching an estimated value of $6 billion by 2030. This market growth is driven by sustained demand for compression services, the expansion of LNG exports, and strategic contracts. In summary, the addressable markets for Kodiak Gas Services' main products and services are substantial and show continued growth, particularly in North America.

AI Generated Analysis | Feedback

Kodiak Gas Services (KGS) is expected to experience several key drivers of future revenue growth over the next two to three years:

Increased Demand for Large Horsepower Compression in the U.S.: The company anticipates sustained strong demand for its large horsepower compression services, particularly in the Permian Basin. This is attributed to the ongoing growth in natural gas production, increasing gas-to-oil ratios in the region, and the development of new natural gas takeaway pipeline capacity expected to come online by 2026.
Repricing and New Units at Favorable Market Rates: Kodiak Gas Services is actively recontracting its existing compression fleet at higher rates and deploying new large horsepower units at leading-edge market prices. This strategy is contributing to both revenue expansion and improved margins within its Contract Services segment.
Fleet Expansion and Enhanced Utilization: The company is focused on strategically expanding its fleet by adding new large horsepower units and optimizing the deployment of existing equipment, including putting idle assets back to work. These efforts are leading to higher fleet utilization rates, especially for core large horsepower assets, which are operating near full capacity.
Strategic Focus on the U.S. Market: Kodiak has strategically exited its international operations to concentrate solely on the U.S. market. This move aims to achieve higher returns and reduce operational risks by focusing on what the company considers a more stable and lucrative environment for contract compression services.
Operational Efficiency and Technology Investments: Investments in technology, such as the successful implementation of a new ERP system, are expected to streamline operations, improve efficiency, and enhance fleet uptime and reliability. While not a direct revenue driver, these improvements can indirectly support revenue growth by enabling Kodiak to provide superior service, maintain high operational availability, and potentially take on more contracts.

AI Generated Analysis | Feedback

Kodiak Gas Services (KGS) has made several capital allocation decisions over the last 3-5 years, focusing on share repurchases, share issuances, and capital expenditures.

Share Repurchases

In November 2024, Kodiak Gas Services' Board of Directors approved a share repurchase program authorizing the purchase of up to $50 million of the company's common stock, set to expire on December 31, 2025.
In May 2025, concurrently with a sale by EQT, the company repurchased approximately 278,000 shares of its common stock from EQT in a private transaction for approximately $10 million.
In August 2025, Kodiak repurchased 1,508,750 shares of its common stock for $50 million from Frontier TopCo Partnership, L.P., an affiliate of EQT. Following this repurchase, approximately $65 million remained available under the share repurchase program.
In the second quarter of 2025, the Board of Directors approved a $100 million increase to its share repurchase program, extending its expiration date to December 31, 2026. This brought the total amount available for repurchases to $115 million, with approximately 2.0 million shares repurchased for an aggregate of $60.0 million by that time.

Share Issuance

In July 2023, Kodiak Gas Services completed its Initial Public Offering (IPO), selling 16,000,000 shares of common stock.
As of October 30, 2025, Kodiak Gas Services had 86,683,860 shares of common stock outstanding.

Outbound Investments

In the third quarter of 2025, Kodiak Gas Services strategically exited its international operations, including the divestment of its Mexico business, resulting in a $33.3 million loss on disposal.
The company also divested approximately 26,000 operating horsepower of non-strategic units during the third quarter of 2025.

Capital Expenditures

Kodiak Gas Services reported capital expenditures of $259.35 million in 2021, $219.80 million in 2022, $336.96 million in 2023, and $319.94 million in 2024.
In the third quarter of 2025, growth capital expenditures were fully funded by discretionary cash flow. Maintenance capital expenditures for the same quarter were approximately $20 million and are trending towards the lower end of the full-year guidance.
The primary focus of capital expenditures includes the deployment of new, large horsepower compression units, with 59,550 horsepower deployed in Q3 2025 and 31,800 horsepower in Q2 2025, along with investments in technology to enhance fleet uptime and reliability. Capital spending for 2026 is effectively fully contracted.

Better Bets than Kodiak Gas Services (KGS)

	KGS	Better Performance than KGS
Metric	Value	INDUSTRY: Oil & Gas Equipment & Services
Rev Chg LTM	19.4%	LB (95.0%), SEI (92.3%), INVX (75.8%), AROC (31.9%), AESI (20.7%)
Op Mgn LTM	30.9%	LB (47.8%), AROC (36.3%)
CFO/Rev LTM	40.7%	LB (56.0%), NGS (41.2%)
FCF/Rev LTM	14.6%	LB (54.8%), TDW (21.0%), WHD (19.1%), FTI (15.8%), INVX (14.8%)
Total Yield	3.5%	NOV (11.7%), WFRD (9.7%), HAL (9.1%), BKR (7.9%), FTI (6.4%)
P/S	2.5	NOV (0.6), HAL (0.9), WFRD (1.0), FTI (1.7), BKR (1.7)
P/Op Inc	8.1	HAL (6.5), WFRD (6.8), TDW (7.7), OII (7.8), NOV (8.1)

	KGS	Better Performance than KGS
Metric	Value	SECTOR: Energy
Rev Chg LTM	19.4%	FANG (60.1%), OKE (58.4%), ENB (32.3%), TRP (24.5%), CCJ (23.9%)
Op Mgn LTM	30.9%	TRP (43.1%), LNG (37.2%), FANG (36.5%), WMB (34.3%), EOG (33.4%)
CFO/Rev LTM	40.7%	FANG (57.3%), TRP (51.4%), WMB (48.2%), EOG (45.2%), OXY (44.7%)
FCF/Rev LTM	14.6%	CNQ (18.2%), EOG (17.2%), KMI (16.8%), SU (15.1%), WMB (15.0%)
Total Yield	3.5%	ENB (12.9%), COP (10.8%), XOM (10.3%), CVX (8.3%), WMB (6.2%)
P/S	2.5	XOM (1.4), CNQ (1.5), CVX (1.6), ENB (1.7), COP (2.0)
P/Op Inc	8.1	SU (6.4), CNQ (7.4), FANG (7.4), OKE (7.8), EOG (8.0)

	KGS	Better Performance than KGS
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	19.4%	NVDA (71.6%), PLTR (47.2%), LLY (36.8%), AVGO (28.0%), META (21.3%)
Op Mgn LTM	30.9%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	40.7%	META (56.8%), MA (56.1%), MSFT (50.0%), NVDA (46.6%), AVGO (42.4%)
FCF/Rev LTM	14.6%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	3.5%	JNJ (8.4%), JPM (6.7%), BRK-B (6.2%), GOOGL (4.6%), WMT (3.6%)
P/S	2.5	UNH (0.7), WMT (1.1), COST (1.5), PEP (2.1), HD (2.2)
P/Op Inc	8.1	CMCSA (5.2), VZ (5.9), GM (7.1), BUD (7.7), BMY (8.0)

		Best Bets In Energy Sector
	KGS
What You Pay
P/E	42.9
P/EBIT	10.4
What You Get
Rev Chg Q	-0.6%
Rev Chg LTM	19.4%
Rev Chg 3Y Avg	�
FCF/Rev 3Y Avg	4.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 5.4%, alpha of -0.1%, and sharpe of 0.25

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	How Low Can Kodiak Gas Services Stock Really Go?	Return
2	null
3	Why Kodiak Gas Services Stock Moved: KGS Stock Has Gained 87% Since 2023 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)
4	KGS Dip Buy Analysis
5	Kodiak Gas Services (KGS) Valuation Ratios Comparison	Financials
6	Kodiak Gas Services (KGS) Operating Cash Flow Comparison	Financials
7	Kodiak Gas Services (KGS) Net Income Comparison	Financials
8	Kodiak Gas Services (KGS) Operating Income Comparison	Financials
9	Kodiak Gas Services (KGS) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to KGS. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.3%	8.3%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.3%	13.3%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.5%	22.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.4%	-0.4%	-5.7%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WHD_11212025_Dip_Buyer_ValueBuy	11212025	WHD	Cactus	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	8.3%	8.3%	0.0%
OVV_10172025_Dip_Buyer_FCFYield	10172025	OVV	Ovintiv	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	13.3%	13.3%	0.0%
COP_10102025_Dip_Buyer_FCFYield	10102025	COP	ConocoPhillips	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.8%	2.8%	-2.3%
HAL_10102025_Dip_Buyer_FCFYield	10102025	HAL	Halliburton	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	22.5%	22.5%	-0.7%
OXY_10102025_Dip_Buyer_FCFYield	10102025	OXY	Occidental Petroleum	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-0.4%	-0.4%	-5.7%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Kodiak Gas Services

Peers to compare with:

Financials

	KGS	FTI	HLX	FTK	HMH	WBI	Median
Name	Kodiak G.	TechnipF.	Helix En.	Flotek I.	HMH	WaterBri.
Mkt Price	35.26	46.67	7.30	15.17	-	22.44	22.44
Mkt Cap	3.1	19.1	1.1	0.5	-	-	2.1
Rev LTM	1,285	9,783	1,312	214	844	-	1,285
Op Inc LTM	397	1,292	84	20	108	-	108
FCF LTM	187	1,541	78	2	18	-	78
FCF 3Y Avg	51	913	110	-10	-	-	80
CFO LTM	523	1,890	102	5	35	-	102
CFO 3Y Avg	344	1,177	137	-9	-	-	241

Growth & Margins

	KGS	FTI	HLX	FTK	HMH	WBI	Median
Name	Kodiak G.	TechnipF.	Helix En.	Flotek I.	HMH	WaterBri.
Rev Chg LTM	19.4%	11.2%	-2.0%	21.7%	3.9%	-	11.2%
Rev Chg 3Y Avg	-	14.5%	23.5%	70.4%	-	-	23.5%
Rev Chg Q	-0.6%	12.7%	10.1%	26.4%	-1.9%	-	10.1%
QoQ Delta Rev Chg LTM	-0.1%	3.2%	2.7%	6.0%	-0.5%	-	2.7%
Op Mgn LTM	30.9%	13.2%	6.4%	9.4%	12.8%	-	12.8%
Op Mgn 3Y Avg	28.3%	9.7%	7.6%	-0.9%	-	-	8.6%
QoQ Delta Op Mgn LTM	1.3%	0.8%	0.1%	1.7%	-0.8%	-	0.8%
CFO/Rev LTM	40.7%	19.3%	7.7%	2.5%	4.1%	-	7.7%
CFO/Rev 3Y Avg	31.8%	13.0%	10.5%	-4.7%	-	-	11.8%
FCF/Rev LTM	14.6%	15.8%	6.0%	1.1%	2.1%	-	6.0%
FCF/Rev 3Y Avg	4.1%	10.0%	8.4%	-5.5%	-	-	6.3%

Valuation

	KGS	FTI	HLX	FTK	HMH	WBI	Median
Name	Kodiak G.	TechnipF.	Helix En.	Flotek I.	HMH	WaterBri.
Mkt Cap	3.1	19.1	1.1	0.5	-	-	2.1
P/S	2.5	1.7	0.7	2.3	-	-	2.0
P/EBIT	10.4	12.5	10.3	30.7	-	-	11.5
P/E	42.9	17.1	22.6	35.5	-	-	29.0
P/CFO	6.1	8.5	9.5	93.6	-	-	9.0
Total Yield	3.5%	6.4%	4.4%	2.8%	-	-	3.9%
Dividend Yield	1.1%	0.5%	0.0%	0.0%	-	-	0.3%
FCF Yield 3Y Avg	1.7%	7.0%	7.7%	-9.5%	-	-	4.4%
D/E	0.8	0.1	0.6	0.1	-	-	0.4
Net D/E	0.8	0.0	0.3	0.1	-	-	0.2

Returns

	KGS	FTI	HLX	FTK	HMH	WBI	Median
Name	Kodiak G.	TechnipF.	Helix En.	Flotek I.	HMH	WaterBri.
1M Rtn	-4.0%	11.0%	5.5%	-12.6%	-	-8.9%	-4.0%
3M Rtn	1.0%	22.2%	12.7%	31.9%	-	-	17.4%
6M Rtn	0.7%	48.1%	11.6%	3.5%	-	-	7.6%
12M Rtn	-8.5%	49.0%	-31.9%	72.6%	-	-	20.2%
3Y Rtn	-	268.9%	11.6%	94.5%	-	-	94.5%
1M Excs Rtn	-4.0%	11.0%	5.5%	-12.5%	-	-8.8%	-4.0%
3M Excs Rtn	-7.5%	12.5%	5.3%	21.3%	-	-	8.9%
6M Excs Rtn	-14.1%	33.4%	-3.1%	-11.2%	-	-	-7.1%
12M Excs Rtn	-21.9%	36.1%	-45.3%	64.9%	-	-	7.1%
3Y Excs Rtn	-	220.8%	-53.5%	49.0%	-	-	49.0%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Filing Date	11/5/2025	3/7/2025	3/7/2024	6/30/2023	3/7/2024
Key Financials
Total Revenue	1,285	1,159	850	708	606
EBITDA	584	533	441	480	367
Operating Income	397	289	243	221	198
Net Income	75	50	20	106	181
EPS	0.82	0.58	0.29	1.42	2.41
Growth Rates
Total Revenue Growth	19.4%	36.3%	20.1%	16.7%	-
EBITDA Growth	26.4%	21.1%	-8.2%	30.7%	-
Operating Income Growth	52.4%	18.8%	10.0%	11.5%	-
Net Income Growth	213.2%	148.7%	-81.1%	-41.3%	-
Margins
EBITDA Margin	45.4%	46.0%	51.8%	67.8%	60.5%
Operating Income Margin	30.9%	24.9%	28.6%	31.2%	32.7%
Net Income Margin	5.8%	4.3%	2.4%	15.0%	29.8%
Cash & Debt
Total Cash	1	5	6	20	29
Total Debt	2,668	2,647	1,826	2,730	1,845
Net Debt / (Cash)	2,667	2,642	1,820	2,709	1,816
Cash Flows
Net Cash from Operations	523	328	266	220	250
Free Cash from Operations	187	-9	47	-40	48
Returns to Shareholders
Dividends	153	134	72	838	1
Share Repurchases	91	43	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/5/2025	8/7/2025	5/8/2025	3/7/2025	11/7/2024	8/13/2024	5/9/2024	3/7/2024	11/9/2023	8/10/2023	6/30/2023	6/30/2023
Key Financials Quarterly
Total Revenue	323	323	330	310	325	310	215	226	231	203	190	180
Ebitda	102	165	159	157	119	131	127	85	115	142	97	108
Operating Income	102	106	98	89	86	53	60	61	61	61	60	58
Net Income	-14	39	30	19	-6	6	30	-7	22	18	-12	2
EPS	-0.17	0.44	0.34	0.21	-0.07	0.07	0.39	-0.09	0.28	0.30	-0.16	0.03
Key Financials TTM
Total Revenue TTM	1,285	1,287	1,273	1,159	1,076	982	876	850	804	756	730	708
Ebitda TTM	584	601	566	533	462	458	470	441	463	502	452	459
Operating Income TTM	397	381	327	289	260	235	243	243	240	237	227	221
Net Income TTM	75	83	50	50	24	51	63	20	29	53	44	85
Growth Rates Quarterly
Total Revenue Growth	-0.6%	4.3%	53.0%	37.0%	40.6%	52.3%	13.4%	25.7%	26.5%	14.8%	12.9%	-
EBITDA Growth	-14.1%	26.5%	25.7%	83.7%	3.1%	-8.3%	30.4%	-21.2%	-25.1%	55.0%	-7.1%	-
Operating Income Growth	18.6%	100.7%	63.6%	47.4%	41.7%	-13.6%	-0.4%	5.5%	6.1%	18.1%	11.1%	-
Net Income Growth	-148.1%	534.2%	0.6%	377.6%	-125.9%	-64.4%	344.9%	-460.1%	-52.6%	96.8%	-144.2%	-
Margins Quarterly
EBITDA Margin	31.7%	51.2%	48.3%	50.7%	36.7%	42.2%	58.8%	37.8%	50.0%	70.1%	51.1%	60.2%
Operating Income Margin	31.7%	32.9%	29.8%	28.9%	26.6%	17.1%	27.9%	26.9%	26.4%	30.2%	31.8%	32.0%
Net Income Margin	-4.3%	12.2%	9.2%	6.2%	-1.7%	2.0%	14.0%	-3.0%	9.4%	8.6%	-6.5%	1.1%
Cash & Debt
Total Cash	1	5	2	5	7	4	9	6	6	41	3	20
Total Debt	2,668	2,607	2,654	2,647	2,660	2,550	1,865	1,826	1,782	2,804	1,844	2,730
Net Debt / (Cash)	2,667	2,602	2,652	2,642	2,653	2,546	1,856	1,820	1,776	2,763	1,841	2,709
Cash Flows Quarterly
FCF from Operations	113	177	114	118	37	121	52	63	86	95	23	33
Cash Flows TTM
FCF from Operations TTM	523	447	391	328	272	321	295	266	237	210	188	220
Returns to Shareholders Quarterly
Dividends	40	40	36	36	35	33	30	30	0	42	0	0
Share Repurchases	56	7	13	15	28	-0	0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	7.5%	8.4%	7.6%	5.2%	6.8%	4.2%	6.4%	8.7%	6.5%	6.7%	6.6%	6.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	7.3%	7.0%	5.6%	5.0%	4.2%	4.3%	5.9%	5.0%	6.5%	6.5%	6.3%	6.2%

Price Behavior

Price Behavior

Market Price	$35.26
Market Cap ($ Bil)	3.1
First Trading Date	06/29/2023
Distance from 52W High	-25.4%
	50 Days	200 Days
DMA Price	$34.77	$34.22
DMA Trend	down	indeterminate
Distance from DMA	1.4%	3.0%
	3M	1YR
Volatility	36.1%	44.8%
Downside Capture	6.64	115.97
Upside Capture	9.37	92.08
Correlation (SPY)	25.1%	57.0%

KGS Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.67	0.82	0.75	0.76	1.29	0.17
Up Beta	1.64	2.07	2.50	2.08	1.17	0.16
Down Beta	1.97	1.40	1.17	1.24	1.82	0.29
Up Capture	-25%	8%	5%	11%	88%	40%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	11	22	30	65	131	326
Down Capture	53%	38%	10%	13%	110%	73%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	33	59	115	273

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

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Based On 5-Year Data

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Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	4,603,812
Short Interest: % Change Since 10312025	-24.5%
Average Daily Volume	1,856,627
Days-to-Cover Short Interest	2.48
Basic Shares Quantity	87,055,000
Short % of Basic Shares	5.3%

Returns Analyses

	Title
0	How Low Can Kodiak Gas Services Stock Really Go?

SEC Filings

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Report Date	Filing Date	Filing
9302025	11052025	10-Q 9/30/2025
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	3072025	10-K 12/31/2024
9302024	11072024	10-Q 9/30/2024
6302024	8132024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	3072024	10-K 12/31/2023
9302023	11092023	10-Q 9/30/2023
6302023	8102023	10-Q 6/30/2023
12312022	6302023	424B4 12/31/2022

Insider Activity

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	Owner	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Frontier TopCo Partnership, L.P.	9102025	Sell	34.21	10,000,000	342,110,000	676,097,385	Form
1	Frontier TopCo Partnership, L.P.	5142025	Sell	36.02	3,222,338	116,052,503	1,136,236,695	Form
2	Frontier TopCo Partnership, L.P.	1302025	Sell	47.50	3,728,677	177,112,158	1,651,637,842	Form
3	Frontier TopCo Partnership, L.P.	12132024	Sell	42.09	5,500,000	231,473,000	1,620,311,000	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Kodiak Gas Services (KGS)

Market Price (12/4/2025): $35.27 | Market Cap: $3.1 BilSector: Energy | Industry: Oil & Gas Equipment & Services

Kodiak Gas Services (KGS)

Market Price (12/4/2025): $35.27Market Cap: $3.1 BilSector: EnergyIndustry: Oil & Gas Equipment & Services

Valuation, Metrics & Events

KGS Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Kodiak Gas Services (KGS)

Natural Gas Compressor Market

Contract Compression Services Market

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Kodiak Gas Services (KGS)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

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Financials

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Valuation

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FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/4/2025): $35.27 | Market Cap: $3.1 Bil
Sector: Energy | Industry: Oil & Gas Equipment & Services

Market Price (12/4/2025): $35.27
Market Cap: $3.1 Bil
Sector: Energy
Industry: Oil & Gas Equipment & Services