Natural Gas Services (NGS)
Market Price (4/11/2026): $38.49 | Market Cap: $483.6 MilSector: Energy | Industry: Oil & Gas Equipment & Services
Natural Gas Services (NGS)
Market Price (4/11/2026): $38.49Market Cap: $483.6 MilSector: 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 37% Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies. | Trading close to highsDist 52W High is -3.5%, Dist 3Y High is -3.5% | Stock price has recently run up significantly12M Rtn12 month market price return is 113% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -34% Key risksNGS key risks include [1] a significant revenue concentration from its single largest customer, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 37% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include US Energy Independence. Themes include US LNG, and US Oilfield Technologies. |
| Trading close to highsDist 52W High is -3.5%, Dist 3Y High is -3.5% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 113% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -34% |
| Key risksNGS key risks include [1] a significant revenue concentration from its single largest customer, Show more. |
Qualitative Assessment
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Natural Gas Services (NGS) stock has gained about 15% since 12/31/2025 because of the following key factors:
1. Record Financial Performance in 2025 and Strong 2026 Guidance Underpinning Growth.
Natural Gas Services (NGS) reported record financial results for the full year 2025, with rental revenue increasing 13.9% year-over-year to $164.3 million and Adjusted EBITDA reaching a record $81.0 million, up 16.5% from 2024. The company also delivered strong fourth-quarter 2025 results, with rental revenue of $44.3 million, a 16.0% increase year-over-year, and Adjusted EBITDA of $21.2 million, up 17.6% over the same period. This positive performance was further bolstered by robust 2026 guidance, projecting Adjusted EBITDA of $90.5 million to $95.5 million and growth capital expenditures between $55 million and $70 million, signaling continued organic expansion.
2. Increased Fleet Utilization and Strategic Expansion of High-Horsepower Compression Units.
NGS achieved a record fleet utilization rate of 84.9% at the end of 2025. The company significantly expanded its fleet, adding approximately 70,000 horsepower during 2025, with over half of these additions deployed in the fourth quarter. A key aspect of this expansion was the focus on large-horsepower electric units, which represented about 30% of the additions. Looking ahead, NGS has already contracted to deploy about 50,000 horsepower of new large units in 2026, positioning the company for its fourth consecutive year of organic market share growth in the compression industry.
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1. Record Financial Performance in 2025 and Strong 2026 Guidance Underpinning Growth.
Natural Gas Services (NGS) reported record financial results for the full year 2025, with rental revenue increasing 13.9% year-over-year to $164.3 million and Adjusted EBITDA reaching a record $81.0 million, up 16.5% from 2024. The company also delivered strong fourth-quarter 2025 results, with rental revenue of $44.3 million, a 16.0% increase year-over-year, and Adjusted EBITDA of $21.2 million, up 17.6% over the same period. This positive performance was further bolstered by robust 2026 guidance, projecting Adjusted EBITDA of $90.5 million to $95.5 million and growth capital expenditures between $55 million and $70 million, signaling continued organic expansion.
2. Increased Fleet Utilization and Strategic Expansion of High-Horsepower Compression Units.
NGS achieved a record fleet utilization rate of 84.9% at the end of 2025. The company significantly expanded its fleet, adding approximately 70,000 horsepower during 2025, with over half of these additions deployed in the fourth quarter. A key aspect of this expansion was the focus on large-horsepower electric units, which represented about 30% of the additions. Looking ahead, NGS has already contracted to deploy about 50,000 horsepower of new large units in 2026, positioning the company for its fourth consecutive year of organic market share growth in the compression industry.
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Stock Movement Drivers
Fundamental Drivers
The 14.6% change in NGS stock from 12/31/2025 to 4/10/2026 was primarily driven by a 7.6% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.55 | 38.44 | 14.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 167 | 172 | 3.3% |
| Net Income Margin (%) | 11.2% | 11.6% | 3.2% |
| P/E Multiple | 22.5 | 24.2 | 7.6% |
| Shares Outstanding (Mil) | 13 | 13 | -0.2% |
| Cumulative Contribution | 14.6% |
Market Drivers
12/31/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| NGS | 14.6% | |
| Market (SPY) | -5.4% | 37.0% |
| Sector (XLE) | 27.4% | 27.3% |
Fundamental Drivers
The 38.2% change in NGS stock from 9/30/2025 to 4/10/2026 was primarily driven by a 25.1% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.81 | 38.44 | 38.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 164 | 172 | 5.0% |
| Net Income Margin (%) | 10.9% | 11.6% | 5.9% |
| P/E Multiple | 19.4 | 24.2 | 25.1% |
| Shares Outstanding (Mil) | 12 | 13 | -0.7% |
| Cumulative Contribution | 38.2% |
Market Drivers
9/30/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| NGS | 38.2% | |
| Market (SPY) | -2.9% | 34.0% |
| Sector (XLE) | 28.6% | 27.8% |
Fundamental Drivers
The 76.8% change in NGS stock from 3/31/2025 to 4/10/2026 was primarily driven by a 54.5% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.74 | 38.44 | 76.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 157 | 172 | 9.9% |
| Net Income Margin (%) | 11.0% | 11.6% | 5.2% |
| P/E Multiple | 15.7 | 24.2 | 54.5% |
| Shares Outstanding (Mil) | 12 | 13 | -1.0% |
| Cumulative Contribution | 76.8% |
Market Drivers
3/31/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| NGS | 76.8% | |
| Market (SPY) | 16.3% | 52.7% |
| Sector (XLE) | 25.0% | 54.6% |
Fundamental Drivers
The 276.8% change in NGS stock from 3/31/2023 to 4/10/2026 was primarily driven by a 103.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.20 | 38.44 | 276.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 85 | 172 | 103.1% |
| P/S Multiple | 1.5 | 2.8 | 91.2% |
| Shares Outstanding (Mil) | 12 | 13 | -3.0% |
| Cumulative Contribution | 276.8% |
Market Drivers
3/31/2023 to 4/10/2026| Return | Correlation | |
|---|---|---|
| NGS | 276.8% | |
| Market (SPY) | 63.3% | 35.5% |
| Sector (XLE) | 50.6% | 48.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NGS Return | 10% | 9% | 40% | 67% | 27% | 14% | 307% |
| Peers Return | 60% | 71% | 33% | 27% | 26% | 34% | 680% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| NGS Win Rate | 33% | 58% | 50% | 58% | 50% | 75% | |
| Peers Win Rate | 54% | 56% | 56% | 50% | 48% | 70% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NGS Max Drawdown | -15% | -11% | -17% | -14% | -35% | -1% | |
| Peers Max Drawdown | -11% | -9% | -14% | -16% | -29% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AROC, KGS, RES, TTI, HLX. See NGS 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 4/10/2026 (YTD)
How Low Can It Go
| Event | NGS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -37.4% | -25.4% |
| % Gain to Breakeven | 59.7% | 34.1% |
| Time to Breakeven | 442 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -68.5% | -33.9% |
| % Gain to Breakeven | 217.1% | 51.3% |
| Time to Breakeven | 699 days | 148 days |
| 2018 Correction | ||
| % Loss | -67.3% | -19.8% |
| % Gain to Breakeven | 205.9% | 24.7% |
| Time to Breakeven | 2,291 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -79.7% | -56.8% |
| % Gain to Breakeven | 393.3% | 131.3% |
| Time to Breakeven | 1,918 days | 1,480 days |
Compare to AROC, KGS, RES, TTI, HLX
In The Past
Natural Gas Services's stock fell -37.4% during the 2022 Inflation Shock from a high on 6/6/2022. A -37.4% loss requires a 59.7% gain to breakeven.
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About Natural Gas Services (NGS)
Natural Gas Services Group, Inc. provides natural gas compression services and equipment to the energy industry in the United States. It fabricates, manufactures, rents, and sells natural gas compressors and related equipment. The company primarily engages in the rental of compression units that provide small, medium, and large horsepower applications for unconventional oil and natural gas production. As of December 31, 2021, the company had 2,023 natural gas compression units in its rental fleet with 418,041 horsepower. The company also engages in the design, fabrication, and assembly of compressor components into compressor units for rental or sale; engineers and fabricates natural gas compressors; and designs and manufactures a line of reciprocating compressor frames, cylinders, and parts. In addition, it is involved in the design, fabrication, sale, installation, and service of flare stacks and related ignition and control devices for the onshore and offshore incineration of gas compounds, such as hydrogen sulfide, carbon dioxide, natural gas, and liquefied petroleum gases. Further, the company offers customer support services for its compressor and flare sales business; and exchange and rebuild program for small horsepower screw compressors. Its primary customers are exploration and production(E&P) companies that utilize compressor units for artificial lift applications; E&P companies that focuses on natural gas-weighted production; and midstream companies. Natural Gas Services Group, Inc. was incorporated in 1998 and is headquartered in Midland, Texas.
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- Natural Gas Services is like United Rentals, but specifically for natural gas compression and flaring equipment.
- Think of Natural Gas Services as a Caterpillar for the natural gas processing and production industry.
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- Natural Gas Compression Unit Rental: The company rents out small, medium, and large horsepower natural gas compression units for various energy industry applications.
- Natural Gas Compressor Manufacturing and Sales: It designs, fabricates, manufactures, and sells natural gas compressors, including reciprocating compressor frames, cylinders, and parts.
- Flare Stacks and Systems: NGS designs, fabricates, sells, installs, and services flare stacks along with related ignition and control devices for gas incineration.
- Compressor Exchange and Rebuild Program: This service provides an exchange and rebuild option specifically for small horsepower screw compressors.
- Customer Support Services: The company offers customer support services for its compressor and flare sales businesses.
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Natural Gas Services Group, Inc. (NGS) primarily sells its services and equipment to other companies in the energy industry. The provided background information does not list the specific names of its customer companies or their public symbols.
However, the company identifies the following types of entities as its major customers:
- Exploration and production (E&P) companies that utilize compressor units for artificial lift applications.
- Exploration and production (E&P) companies that focus on natural gas-weighted production.
- Midstream companies.
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Justin Jacobs, Chief Executive Officer Mr. Jacobs was appointed Chief Executive Officer of Natural Gas Services Group, Inc. in February 2024. Prior to joining NGS, he served as a Managing Director and was a member of the management committee at Mill Road Capital Management LLC, an investment firm specializing in small, publicly traded companies, where he worked since 2005. From 1999 to 2004, Mr. Jacobs was employed by LiveWire Capital, an investment and management group primarily supported by The Blackstone Group and Thomas Lee Partners, focusing on operational buyouts of middle-market companies. During his time at LiveWire, he held various operational roles, including interim Chief Operating Officer, in several portfolio companies. Before LiveWire, from 1996 to 1999, he was an investment professional in the private equity group at The Blackstone Group, where he was involved in transactions across various industries, including oil refining. Mr. Jacobs is currently a member of the Board of Directors of Swiss Water Decaffeinated Coffee, Inc., and has previously served on the boards of multiple public and private companies. He holds a B.S. from the McIntire School of Commerce at the University of Virginia with concentrations in accounting and finance. Ian Eckert, Chief Financial Officer Mr. Eckert is set to join Natural Gas Services Group, Inc. as Chief Financial Officer no later than January 6, 2025, having been appointed effective December 30, 2024. Before his employment with NGS, he served as Chief Accounting Officer, Vice President, and Corporate Controller at Alamo Group Inc., a public company listed on the NYSE that manufactures equipment for industrial, vegetation, and agricultural markets, starting in June 2023. From 2020 to 2023, Mr. Eckert was the Vice President, Finance for AMETEK Inc.'s Electron Microscopy Technologies business. Prior to 2020, he held progressively responsible roles in controllership, financial planning and analysis, and strategy at Howmet Aerospace Inc. (formerly Alcoa Inc.). He began his professional career at Lafarge. Mr. Eckert earned a B.S. in Finance from Indiana University and an MBA from Carnegie Mellon University. Steven Pye, Vice President, Operations Prior to his employment with Natural Gas Services Group, Inc., Mr. Pye worked for ExxonMobil, where his most recent role was Permian Regional Engineering Manager following the acquisition of Pioneer Natural Resources. He spent 13 years at Pioneer Natural Resources, advancing through various roles, and ultimately serving as Director of Production Operations. In this capacity, he led extensive production operations and multidisciplinary field and engineering teams across active oil basins. Mr. Pye began his career as a Production Engineer at BP, supporting operations in Midland, Azerbaijan, Alaska, and Durango. He holds a B.S. in Petroleum Engineering from the University of Texas at Austin. John A. Rowell, Vice President, Technical Mr. Rowell has been a crucial contributor to the development of Natural Gas Services Group, Inc.'s innovative technology, which has played a significant role in the company's growth. He started his career with the company in 2001, initially fabricating compressor units.AI Analysis | Feedback
Key Business Risks for Natural Gas Services (NGS)
Natural Gas Services Group, Inc. (NGS) faces several key risks inherent to its operations within the energy industry. These include its high dependence on the volatile oil and natural gas markets, significant customer concentration, and increasing environmental, social, and governance (ESG) as well as regulatory pressures. The most significant risk to Natural Gas Services is its **dependence on oil and natural gas price volatility** and, consequently, the expenditure levels of the energy industry. NGS's revenue is highly sensitive to fluctuations in commodity prices, which directly impact the exploration and production (E&P) and midstream companies that are its primary customers. Lower oil and gas prices can lead to reduced capital expenditures by these customers, subsequently decreasing the demand for NGS's natural gas compression services and equipment, thereby adversely affecting its revenue and profitability. A second critical risk is **customer concentration**. Natural Gas Services has a substantial reliance on a few major customers. For example, Occidental Permian and Devon Energy collectively accounted for 59% of NGS's 2025 revenue and 62% of its year-end accounts receivable. The loss of one or both of these key customers, or a significant deterioration in their financial condition, could have a material adverse effect on NGS's business, results of operations, financial condition, and cash flows. Finally, **ESG pressures and regulatory risks** pose a growing challenge. Increased scrutiny and evolving environmental, social, and governance (ESG) standards, alongside climate-related regulations (such as those concerning methane emissions), can impact investor sentiment and access to capital for NGS and its customers. Stricter environmental rules could also dampen customer activity in the fossil fuel sector, reduce demand for compression services, or increase NGS's operational costs to ensure compliance.AI Analysis | Feedback
The accelerating global energy transition away from fossil fuels, including natural gas, towards renewable energy sources and decarbonization technologies.
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Natural Gas Services Group, Inc. (NGS) operates in the natural gas compression and flare systems markets primarily within the United States.
Natural Gas Compression Services and Equipment
The addressable market for natural gas compression services and equipment in the United States is substantial. The U.S. Natural Gas Compressor Market was valued at approximately USD 1.90 billion in 2024. This market is projected to reach USD 1.67 billion in 2025. Globally, the natural gas compressor market was valued at USD 5.57 billion in 2024 and is expected to grow to USD 8.34 billion by 2032, at a compound annual growth rate (CAGR) of 4.94% during the forecast period. North America accounted for the largest share of this global market, holding 34.11% in 2024. NGS's offerings, including reciprocating compressors, align with a significant segment of this market, as reciprocating types constitute about 61% of compressors in operation in the U.S.
Flare Stacks and Related Ignition and Control Devices
For its flare stacks and related ignition and control devices, Natural Gas Services Group, Inc. addresses the market for flare gas recovery systems. The United States flare gas recovery system market reached USD 203.2 million in 2025 and is anticipated to grow to USD 324.2 million by 2035, exhibiting a healthy CAGR of 6.8% during this forecast period. This U.S. market is also expected to grow at a CAGR of 4.9% from 2025 to 2030. Globally, the flare gas recovery system market was estimated at USD 2.35 billion in 2024 and is projected to reach USD 3.16 billion by 2030, with a CAGR of 5.2%.
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Here are 3-5 expected drivers of future revenue growth for Natural Gas Services (NGS) over the next 2-3 years:- Expansion of Large-Horsepower and Electric Motor-Driven Units in Rental Fleet: Natural Gas Services is strategically expanding its rental fleet, with a particular focus on high-return large-horsepower and electric motor-driven compression units. This expansion is driven by strong customer demand and is expected to continue boosting rental revenue and adjusted gross margins. The company has secured new long-term contracts for these types of units, setting a solid foundation for future revenue growth.
- Increased Fleet Utilization and Pricing Improvements: NGS has consistently achieved record fleet utilization rates and continues to implement pricing improvements across its compression portfolio. This operational efficiency and ability to command higher rental rates for its equipment are anticipated to further drive rental revenue and overall profitability.
- Sustained Industry Demand for Compression Services: The company expects continued growth due to strong structural tailwinds in the compression industry. These tailwinds include increasing liquefied natural gas (LNG) export demand, rising natural gas power generation, and growing electricity consumption driven by data centers and AI infrastructure. This robust market demand underpins NGS's organic growth strategy.
- Expanding Customer Relationships and Organic Market Share Gains: Natural Gas Services is focused on expanding its customer relationships and has demonstrated a consistent ability to capture market share organically. This involves attracting new clients and strengthening ties with existing major customers, such as Occidental Permian and Devon Energy, which contribute significantly to their revenue.
- Strategic Acquisitions: While prioritizing organic growth, Natural Gas Services also includes the disciplined evaluation of strategic mergers and acquisitions (M&A) as part of its capital allocation framework. These potential acquisitions could enhance the company's market position and expand its customer offerings.
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Share Repurchases
- In 2025, Natural Gas Services Group authorized a $6 million stock repurchase program.
- In October 2021, the Board of Directors authorized the repurchase of up to $10 million of outstanding common stock.
- Under a prior authorization that expired in September 2021, the company repurchased 478,769 shares of common stock for a total of $5.0 million.
Capital Expenditures
- For the full year 2025, capital expenditures totaled $121.5 million, with $109.8 million allocated as growth capital for new large-horsepower compression units.
- For 2026, growth capital expenditures are expected to range from $55 million to $70 million, focused on continued investment in large horsepower compression units, and maintenance capital expenditures are projected to be between $15 million and $18 million.
- In 2024, the company's growth capital expenditures amounted to $60.5 million, and maintenance capital expenditures were $11.4 million.
Latest Trefis Analyses
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| 03312026 | KGS | Kodiak Gas Services | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03312026 | KOS | Kosmos Energy | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 12262025 | TPL | Texas Pacific Land | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 65.2% | 65.2% | -2.1% |
| 12122025 | NOV | NOV | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 15.3% | 15.3% | -6.5% |
| 12122025 | RIG | Transocean | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 60.5% | 60.5% | -7.0% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 22.76 |
| Mkt Cap | 1.4 |
| Rev LTM | 1,300 |
| Op Inc LTM | 70 |
| FCF LTM | 86 |
| FCF 3Y Avg | 87 |
| CFO LTM | 169 |
| CFO 3Y Avg | 237 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.4% |
| Rev Chg 3Y Avg | 18.5% |
| Rev Chg Q | 11.3% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Mgn LTM | 16.1% |
| Op Mgn 3Y Avg | 13.3% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 26.2% |
| CFO/Rev 3Y Avg | 25.9% |
| FCF/Rev LTM | 5.6% |
| FCF/Rev 3Y Avg | 6.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.4 |
| P/S | 2.3 |
| P/EBIT | 17.7 |
| P/E | 43.8 |
| P/CFO | 9.4 |
| Total Yield | 3.4% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.4 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.1% |
| 3M Rtn | 24.0% |
| 6M Rtn | 54.5% |
| 12M Rtn | 82.4% |
| 3Y Rtn | 214.6% |
| 1M Excs Rtn | 1.5% |
| 3M Excs Rtn | 26.2% |
| 6M Excs Rtn | 41.7% |
| 12M Excs Rtn | 57.3% |
| 3Y Excs Rtn | 174.7% |
Price Behavior
Price Behavior
| Market Price | $38.44 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 10/22/2002 | |
| Distance from 52W High | -3.5% | |
| 50 Days | 200 Days | |
| DMA Price | $37.53 | $30.62 |
| DMA Trend | up | up |
| Distance from DMA | 2.4% | 25.5% |
| 3M | 1YR | |
| Volatility | 30.5% | 38.4% |
| Downside Capture | 0.32 | 0.26 |
| Upside Capture | 177.38 | 126.58 |
| Correlation (SPY) | 32.8% | 37.6% |
NGS Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.04 | 1.08 | 0.86 | 0.86 | 1.20 | 1.05 |
| Up Beta | 1.08 | 1.88 | 1.58 | 1.63 | 1.11 | 1.09 |
| Down Beta | 1.17 | 1.05 | 0.37 | 0.69 | 1.62 | 1.53 |
| Up Capture | 209% | 197% | 175% | 134% | 143% | 91% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 12 | 25 | 36 | 72 | 150 | 401 |
| Down Capture | 54% | 33% | 45% | 36% | 80% | 79% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 10 | 17 | 27 | 54 | 102 | 346 |
[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 NGS | |
|---|---|---|---|---|
| NGS | 124.7% | 39.7% | 2.12 | - |
| Sector ETF (XLE) | 53.0% | 22.2% | 1.83 | 44.7% |
| Equity (SPY) | 31.2% | 17.3% | 1.47 | 43.5% |
| Gold (GLD) | 60.1% | 27.8% | 1.69 | 3.2% |
| Commodities (DBC) | 29.8% | 16.6% | 1.58 | 34.0% |
| Real Estate (VNQ) | 21.3% | 15.2% | 1.07 | 23.3% |
| Bitcoin (BTCUSD) | -5.7% | 43.7% | -0.01 | 22.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NGS | |
|---|---|---|---|---|
| NGS | 33.2% | 44.0% | 0.79 | - |
| Sector ETF (XLE) | 22.6% | 26.1% | 0.78 | 42.9% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 25.2% |
| Gold (GLD) | 22.1% | 17.8% | 1.02 | 10.7% |
| Commodities (DBC) | 11.8% | 18.8% | 0.52 | 32.7% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 14.2% |
| Bitcoin (BTCUSD) | 4.0% | 56.5% | 0.29 | 13.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NGS | |
|---|---|---|---|---|
| NGS | 6.3% | 46.3% | 0.30 | - |
| Sector ETF (XLE) | 10.8% | 29.5% | 0.40 | 48.6% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 33.3% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | 4.4% |
| Commodities (DBC) | 8.6% | 17.6% | 0.41 | 33.5% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.22 | 24.7% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.07 | 10.6% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/16/2026 | 0.6% | 7.8% | |
| 11/10/2025 | -7.2% | -0.6% | 10.7% |
| 8/11/2025 | -1.3% | -0.4% | 4.8% |
| 5/12/2025 | 18.4% | 15.6% | 16.7% |
| 11/14/2024 | 2.3% | 11.6% | 5.1% |
| 8/14/2024 | 11.0% | 10.9% | 3.5% |
| 4/1/2024 | 12.4% | 15.9% | 9.0% |
| 11/14/2023 | 12.7% | 7.8% | -6.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 10 |
| # Negative | 8 | 7 | 7 |
| Median Positive | 7.5% | 10.9% | 9.9% |
| Median Negative | -4.0% | -1.0% | -5.6% |
| Max Positive | 21.5% | 25.1% | 39.8% |
| Max Negative | -10.0% | -16.1% | -15.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/16/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/31/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/18/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EBITDA | 90.50 Mil | 93.00 Mil | 95.50 Mil | 17.0% | Raised | Guidance: 79.50 Mil for 2025 | |
| 2026 Growth Capital Expenditures | 5.5E9% | 6.25E9% | 7.0E9% | 4.2% | Raised | Guidance: 6.0E9% for 2026 | |
| 2026 Maintenance Capital Expenditures | 15.00 Mil | 16.50 Mil | 18.00 Mil | 32.0% | Higher New | Actual: 12.50 Mil for 2025 | |
| 2026 Effective Tax Rate | 25.0% | ||||||
Prior: Q3 2025 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Dividends | 0.11 | 10.0% | Higher New | Actual: 0.1 for Q3 2025 | |||
| 2025 Adjusted EBITDA | 78.00 Mil | 79.50 Mil | 81.00 Mil | 1.9% | Raised | Guidance: 78.00 Mil for 2025 | |
| 2025 Growth Capex | 9.5E9% | 1.025E10% | 1.1E10% | -2.4% | Lowered | Guidance: 1.05E10% for 2025 | |
| 2025 Maintenance Capex | 11.00 Mil | 12.50 Mil | 14.00 Mil | 0 | Affirmed | Guidance: 12.50 Mil for 2025 | |
| 2026 Growth Capex | 5.0E9% | 6.0E9% | 7.0E9% | Higher New | |||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Taylor, Stephen Charles | Direct | Sell | 12122025 | 33.16 | 10,000 | 331,600 | 9,464,925 | Form | |
| 2 | Taylor, Stephen Charles | Direct | Sell | 12122025 | 33.54 | 10,000 | 335,400 | 9,237,989 | Form | |
| 3 | Holley, Jean K | Direct | Buy | 12102025 | 32.04 | 2,190 | 70,168 | 461,056 | Form | |
| 4 | Holley, Jean K | Direct | Buy | 12092025 | 32.00 | 935 | 29,920 | 390,400 | Form | |
| 5 | Taylor, Stephen Charles | Direct | Sell | 12052025 | 32.12 | 20,000 | 642,400 | 9,489,276 | 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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