Latest Ratios: P/E Ratio 76.4x · EV/EBITDA 10.0x · ROE 6.2%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $6.9B | $3.3B | $3.5B | $1.4B | — | — | — |
| Enterprise Value | $6.9B | $3.3B | $6.1B | $3.2B | — | — | — |
| P/E Ratio → | 76.42 | 42.02 | 72.91 | 69.24 | — | — | — |
| P/S Ratio | 5.25 | 2.50 | 3.00 | 1.61 | — | — | — |
| P/B Ratio | 4.91 | 2.70 | 2.53 | 1.20 | — | — | — |
| P/FCF | 24.14 | 11.51 | — | 29.49 | — | — | — |
| P/OCF | 11.44 | 5.46 | 10.60 | 5.15 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.53 | 5.28 | 3.75 | — | — | — |
| EV / EBITDA | 9.96 | 4.78 | 12.01 | 7.48 | — | — | — |
| EV / EBIT | 16.66 | 7.99 | 22.41 | 12.39 | — | — | — |
| EV / FCF | — | 11.65 | — | 68.61 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 42.2% | 42.2% | 38.0% | 37.2% | 37.6% | 38.9% | 39.0% |
| Operating Margin | 31.7% | 31.7% | 21.5% | 28.7% | 31.4% | 31.2% | 31.6% |
| Net Profit Margin | 6.2% | 6.2% | 4.3% | 2.4% | 15.0% | 29.8% | -0.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 6.2% | 6.2% | 4.0% | 2.9% | 17.9% | 21.1% | -0.3% |
| ROA | 1.8% | 1.8% | 1.3% | 0.6% | 3.4% | 5.7% | -0.1% |
| ROIC | 11.8% | 11.8% | 5.4% | 6.2% | 5.8% | 5.2% | 4.8% |
| ROCE | 10.3% | 10.3% | 7.0% | 8.1% | 7.5% | 8.4% | 10.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 1.93 | 1.60 | 11.92 | 1.92 | 2.52 |
| Debt / EBITDA | 0.06 | 0.06 | 5.19 | 4.28 | 6.88 | 5.29 | 6.06 |
| Net Debt / Equity | — | 0.03 | 1.92 | 1.59 | 11.83 | 1.89 | 2.49 |
| Net Debt / EBITDA | 0.06 | 0.06 | 5.18 | 4.26 | 6.83 | 5.20 | 5.99 |
| Debt / FCF | — | 0.14 | — | 39.12 | — | 37.81 | — |
| Interest Coverage | 2.09 | 2.09 | 1.39 | 1.16 | 1.84 | 2.45 | 1.05 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.84 | 0.84 | 1.20 | 1.10 | 1.08 | 1.14 | 0.09 |
| Quick Ratio | 0.57 | 0.57 | 0.88 | 0.73 | 0.70 | 0.80 | 0.06 |
| Cash Ratio | 0.01 | 0.01 | 0.01 | 0.03 | 0.11 | 0.20 | 0.01 |
| Asset Turnover | — | 0.30 | 0.26 | 0.26 | 0.22 | 0.20 | 0.16 |
| Inventory Turnover | 7.45 | 7.45 | 6.95 | 7.00 | 6.12 | 7.66 | 7.16 |
| Days Sales Outstanding | — | 55.14 | 82.24 | 56.06 | 52.13 | 48.61 | 44.75 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.7% | 4.9% | 3.9% | 5.3% | — | — | — |
| Payout Ratio | 198.2% | 198.2% | 268.3% | 359.3% | 788.6% | 0.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 2.4% | 1.4% | 1.4% | — | — | — |
| FCF Yield | 4.1% | 8.7% | — | 3.4% | — | — | — |
| Buyback Yield | 1.5% | 3.2% | 1.2% | 0.0% | — | — | — |
| Total Shareholder Yield | 4.2% | 8.1% | 5.1% | 5.3% | — | — | — |
| Shares Outstanding | — | $87M | $85M | $68M | $75M | $75M | $75M |
Liquidity and integration execution
According to current market data, KGS trades at a forward P/E of 34.01, which appears to command a significant premium relative to the broader energy services sector, suggesting that investors are pricing in aggressive future earnings expansion that may not yet be fully supported by historical performance.
The elevated P/E ratio relative to peers like Archrock suggests the market views KGS as a growth-oriented infrastructure play rather than a mature compression utility. However, given the volatility in net income and the recent acquisition-driven balance sheet shifts, this valuation multiple warrants caution as it implies a high degree of confidence in management's ability to integrate assets while maintaining margin discipline.
Based on reported financial figures, the company's ROIC has remained largely stagnant, hovering near 7.3% in 2026Q1 after periods of sub-2% performance, which indicates that the firm is currently struggling to generate returns that meaningfully exceed its cost of capital following recent large-scale fleet expansion efforts.
The persistent gap between invested capital and returns suggests that the integration of the CSI Compressco fleet may be diluting the efficiency of the core high-horsepower business. Investors should monitor whether the company can improve asset utilization rates to drive ROIC higher, as current levels suggest the capital-intensive nature of the business is currently outpacing its ability to generate incremental value.
As reported in recent quarterly filings, the cash conversion cycle has fluctuated significantly, reaching 71 days in 2026Q1, which highlights the operational challenges inherent in managing a large, geographically dispersed fleet of compression equipment alongside project-based service revenue streams that often exhibit lumpy collection patterns.
The variability in DSO and DIO suggests that the company's working capital management is highly sensitive to the timing of major maintenance projects and customer payment cycles. This lack of consistency in the cash conversion cycle may indicate that the firm lacks the leverage to dictate favorable payment terms, potentially pressuring liquidity during periods of high capital expenditure.
Based on the most recent balance sheet data, the company maintains a current ratio of 1.28, which, while improved from previous quarters, still leaves a narrow margin for error given the capital-intensive nature of the business and the ongoing requirements for fleet maintenance and debt service obligations.
The reliance on revolving credit facilities to manage operational liquidity is evident, as the company's cash position remains relatively low compared to its massive asset base. This structure leaves the firm vulnerable to sudden shifts in credit market conditions, particularly if the integration of acquired assets requires more cash than currently anticipated.
As evidenced by the company's capital-intensive business model, the P/E ratio is a frequently misapplied metric for KGS, as it fails to account for the massive non-cash depreciation charges that significantly distort net income and obscure the underlying cash-generative capacity of the compression fleet.
Analysts should instead prioritize EV/EBITDA or P/FCF to better capture the true economic performance of the compression assets, as these metrics normalize for the heavy depreciation and capital structure shifts that currently render P/E ratios misleading. Relying on P/E risks misinterpreting the company's fundamental health by focusing on accounting earnings rather than the cash-flow-generating power of the installed horsepower base.
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Quick answers to the most common questions about buying KGS stock.
Kodiak Gas Services, Inc.'s current P/E ratio is 76.4x. The historical average is 61.4x. This places it at the 100th percentile of its historical range.
Kodiak Gas Services, Inc.'s current EV/EBITDA is 10.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.1x.
Kodiak Gas Services, Inc.'s return on equity (ROE) is 6.2%. The historical average is 8.6%.
Based on historical data, Kodiak Gas Services, Inc. is trading at a P/E of 76.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kodiak Gas Services, Inc.'s current dividend yield is 2.68% with a payout ratio of 198.2%.
Kodiak Gas Services, Inc. has 42.2% gross margin and 31.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kodiak Gas Services, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.