Kodiak Gas Services Inc (KGS) financial statements: income statement, balance sheet and cash flow
Kodiak Gas Services Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Kodiak Gas Services Inc reported revenue of $1.3B (+12.8% year on year) and net income of $81.6M (+62.1% year on year).
Income statement
Kodiak Gas Services Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Total revenues
$1.3B
$1.2B
$850.4M
Cost of operations
$479.9M
$458.4M
$350.9M
Depreciation and amortization
$276.2M
$260.3M
$182.9M
Long-lived asset impairment
$6.3M
$9.9M
$0
Selling, general and administrative
$144.1M
$151.7M
$73.3M
Loss (gain) on sale of assets
$61.6M
$29.6M
—
Total operating expenses
$968.1M
$909.9M
$606.3M
Income from operations
$340.0M
$249.4M
$244.1M
Interest expense
($198.4M)
($197.1M)
($222.5M)
Loss on extinguishment of debt
$0
$0
($6.8M)
Gain on derivatives
$0
$24.0M
$20.3M
Other income (expense), net
($28.2M)
($415.0K)
$31.0K
Total other expenses, net
($226.5M)
($173.5M)
($209.0M)
Income before income taxes
$113.5M
$75.9M
$35.1M
Income tax expense
$31.9M
$25.6M
$15.1M
Net income
$81.6M
$50.3M
—
Less: Net income attributable to noncontrolling interests
$1.1M
$439.0K
—
Net income attributable to common shareholders
$80.5M
$49.9M
$20.1M
Basic earnings per share (in dollars per share)
$0.90
$0.58
$0.29
Diluted earnings per share (in dollars per share)
$0.89
$0.56
$0.29
Basic weighted average shares of common stock outstanding (in shares)
87.2M
83.1M
68.1M
Diluted weighted average shares of common stock outstanding (in shares)
88.5M
85.2M
68.3M
Kodiak Gas Services Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$391.1M
$345.8M
$322.7M
$322.8M
Cost of operations
$144.4M
$122.9M
$116.2M
$115.3M
Depreciation and amortization
$78.7M
$68.7M
$66.3M
$66.1M
Selling, general and administrative
$40.9M
$46.1M
$37.8M
$35.1M
Loss on sale of assets
$3.0M
$1.3M
$38.2M
$6.6M
Total operating expenses
$266.9M
$238.9M
$258.5M
$223.1M
Income from operations
$124.2M
$106.8M
$64.2M
$99.7M
Interest expense
($50.1M)
($48.7M)
($56.4M)
($45.8M)
Loss on extinguishment of debt
$0
($36.5M)
—
—
Other expense, net
($939.0K)
($939.0K)
($28.3M)
($546.0K)
Total other expenses, net
($51.0M)
($86.2M)
($84.7M)
($46.3M)
Income before income taxes
$73.2M
$20.6M
($20.5M)
$53.4M
Income tax expense
$21.1M
$2.8M
($6.3M)
$13.4M
Net income
$52.1M
$17.9M
($14.2M)
$40.0M
Less: Net income attributable to noncontrolling interests
$173.0K
$55.0K
($186.0K)
$488.0K
Net income attributable to common shareholders
$52.0M
$17.8M
($14.0M)
$39.5M
Basic (in dollars per share)
$0.54
$0.20
-$0.17
$0.44
Diluted (in dollars per share)
$0.53
$0.20
-$0.17
$0.43
Basic (in shares)
95.5M
85.9M
87.1M
87.7M
Diluted (in shares)
96.8M
87.5M
87.1M
90.0M
Balance sheet
Kodiak Gas Services Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Cash and cash equivalents
$3.2M
$4.8M
$5.6M
Accounts receivable, net of allowance of $13,031 and $12,629, respectively
$197.6M
$253.6M
$113.2M
Inventories, net
$101.5M
$103.3M
$76.2M
Fair value of derivative instruments
$0
$3.7M
$8.2M
Contract assets
$5.2M
$7.6M
$17.4M
Prepaid expenses and other current assets
$15.6M
$10.7M
$10.4M
Total current assets
$323.1M
$383.7M
$231.0M
Property, plant and equipment, net
$3.4B
$3.4B
$2.5B
Operating lease right-of-use assets, net
$42.2M
$53.8M
$33.7M
Finance lease right-of-use assets, net
$6.5M
$5.7M
—
Goodwill
$408.7M
$415.2M
$305.6M
Identifiable intangible assets, net
$154.5M
$162.7M
$122.9M
Fair value of derivative instruments
$4.7M
$17.5M
$14.3M
Other assets
$789.0K
$1.5M
$639.0K
Total assets
$4.3B
$4.4B
$3.2B
Accounts payable
$73.0M
$57.6M
$49.8M
Accrued liabilities
$218.5M
$188.7M
$97.1M
Contract liabilities
$94.5M
$73.1M
$63.7M
Total current liabilities
$385.9M
$319.4M
$210.6M
Long-term debt, net of unamortized debt issuance cost
$2.6B
$2.6B
$1.8B
Operating lease liabilities
$39.4M
$49.7M
$34.5M
Finance lease liabilities
$4.4M
$3.5M
—
Deferred tax liabilities
$122.9M
$103.8M
$62.7M
Other liabilities
$2.8M
$3.1M
$2.1M
Total liabilities
$3.1B
$3.1B
$2.1B
Preferred stock, (50.0 million authorized, $0.01 par value) 0.3 million and 0.8 million shares issued and outstanding as of December 31, 2025 and 2024, respectively
4.0K
9.0K
0
Common stock, (750.0 million shares authorized, $0.01 par value) 90.2 million and 89.2 million issued and 85.8 million and 87.8 million outstanding as of December 31, 2025 and 2024, respectively
903.0K
892.0K
774.0K
Additional paid-in capital
$1.3B
$1.3B
$963.8M
Treasury stock, at cost (4.5 million and 1.4 million shares held as of December 31, 2025 and 2024, respectively)
-144.0M
-40.0M
—
Noncontrolling interest
$4.9M
$13.7M
—
Accumulated other comprehensive loss
($1.6M)
—
—
Retained earnings
$12.8M
$93.6M
$178.1M
Total stockholders’ equity
$1.2B
$1.4B
$1.1B
Total liabilities and stockholders’ equity
$4.3B
$4.4B
$3.2B
Kodiak Gas Services Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$137.6M
$94.4M
$724.0K
$5.4M
Accounts receivable, net of allowance $801 and $13,031, respectively
$262.7M
$238.4M
$215.9M
$224.7M
Inventories, net
$107.1M
$103.9M
$101.2M
$101.0M
Contract assets
$11.3M
$7.7M
$4.9M
$5.3M
Prepaid expenses and other current assets
$9.5M
$15.2M
$18.7M
$9.2M
Total current assets
$528.1M
$459.5M
$341.5M
$345.5M
Property, plant and equipment, net
$3.9B
$3.4B
$3.4B
$3.4B
Operating lease right-of-use assets, net
$41.2M
$44.4M
$44.7M
$47.9M
Finance lease right-of-use assets, net
$48.0M
$5.9M
$7.2M
$7.6M
Goodwill
$753.5M
$408.7M
$408.7M
$415.2M
Identifiable intangible assets, net
$189.4M
$149.5M
$156.4M
$159.0M
Fair value of derivative instruments
$10.1M
$6.6M
$0
$0
Other assets
$17.7M
$939.0K
$789.0K
$1.4M
Total assets
$5.5B
$4.5B
$4.4B
$4.4B
Accounts payable
$97.7M
$71.8M
$76.0M
$50.4M
Accrued liabilities
$177.7M
$195.7M
$203.6M
$178.5M
Contract liabilities
$89.6M
$92.4M
$69.5M
$84.4M
Total current liabilities
$365.0M
$360.0M
$349.0M
$313.3M
Long-term debt, net of unamortized debt issuance cost
$2.7B
$2.8B
$2.6B
$2.5B
Operating lease liabilities
$39.8M
$42.1M
$41.5M
$43.7M
Finance lease liabilities
$45.6M
$3.8M
$5.0M
$5.4M
Deferred tax liabilities
$160.7M
$125.5M
$110.3M
$118.1M
Other liabilities
$4.1M
$1.3M
$2.3M
$1.9M
Total liabilities
$3.3B
$3.3B
$3.1B
$3.0B
Preferred stock, ($50.0 million authorized, $0.01 par value) $0.2 million and 0.3 million shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively
2.0K
2.0K
4.0K
8.0K
Common stock, ($750.0 million shares of common stock authorized, $0.01 par value) $105.4 million and $90.2 million issued and 100.9 million and 85.8 million outstanding as of June 30, 2026, and December 31, 2025, respectively
1.1M
908.0K
902.0K
895.0K
Additional paid-in capital
$2.3B
$1.3B
$1.3B
$1.3B
Treasury stock, at cost; 4.5 million and 4.5 million shares held as of June 30, 2026, and December 31, 2025, respectively
-144.0M
-144.0M
-110.3M
-60.0M
Noncontrolling interest
$3.2M
$3.6M
$5.0M
$12.3M
Accumulated other comprehensive income (loss)
$2.7M
($99.0K)
($2.4M)
($8.3M)
(Accumulated deficit) Retained earnings
($10.5M)
($12.4M)
$31.6M
$86.0M
Total stockholders’ equity
$2.2B
$1.2B
$1.3B
$1.3B
Total liabilities and stockholders’ equity
$5.5B
$4.5B
$4.4B
$4.4B
Cash flow statement
Kodiak Gas Services Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Net income
$81.6M
$50.3M
$20.1M
Depreciation and amortization
$276.2M
$260.3M
$182.9M
Long-lived asset impairment
$6.3M
$9.9M
$0
Equity compensation expense
$24.5M
$17.7M
$5.9M
Amortization of debt issuance costs
$12.7M
$12.0M
$13.6M
Non-cash lease expense
$8.4M
$4.7M
$4.5M
Provision for credit losses
$1.0M
$4.7M
$7.1M
Inventory reserve
$124.0K
$559.0K
$500.0K
Loss (gain) on sale of assets
$61.6M
$29.6M
—
Loss on discontinuation of hedge
$9.4M
—
—
Amortization of interest rate swap
$5.2M
—
—
Change in fair value of derivatives
$0
$1.2M
$42.9M
Deferred tax provision
$25.7M
$15.4M
$7.9M
Accounts receivable
$43.8M
($102.9M)
($22.7M)
Inventories
$1.1M
($1.3M)
($4.6M)
Contract assets
$2.4M
$9.8M
($13.9M)
Prepaid expenses and other current assets
($8.5M)
$4.4M
($833.0K)
Accounts payable
$5.2M
$5.0M
$10.2M
Accrued and other liabilities
$17.2M
($2.1M)
$2.8M
Contract liabilities
$22.6M
$9.4M
$6.6M
Other assets
$3.5M
($691.0K)
—
Net cash provided by operating activities
$599.7M
$328.0M
$266.3M
Net cash acquired in acquisition of CSI Compressco LP
$0
$9.5M
—
Purchase of property, plant and equipment
($315.5M)
($337.0M)
($219.8M)
Proceeds from sale of assets
$30.2M
$35.0M
—
Other
$0
$0
($75.0K)
Net cash used for investing activities
($285.3M)
($292.5M)
($218.4M)
Borrowings on debt instruments
$2.9B
$2.6B
$1.0B
Payments on debt instruments
($2.9B)
($2.5B)
($1.2B)
Principal payments on other borrowings
($5.3M)
($5.6M)
—
Payment of debt issuance cost
($33.2M)
($16.3M)
($32.8M)
Principal payments on finance leases
($2.5M)
($2.4M)
—
Proceeds from initial public offering, net of underwriter discounts
$0
$0
$277.8M
Offering costs
$0
($1.2M)
($10.0M)
Loss on extinguishment of debt
$0
$0
$4.4M
Dividends paid to stockholders
($159.6M)
($133.9M)
($29.8M)
Repurchase of common shares
-104.0M
-40.0M
—
Cash paid for shares withheld to cover taxes
-6.4M
-2.8M
—
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock
$2.3M
—
—
Distribution to parent
$0
$0
($42.3M)
Distributions to noncontrolling interest
($1.3M)
($5.5M)
—
Net cash used for financing activities
($316.0M)
($36.3M)
($62.8M)
Net decrease in cash and cash equivalents
($1.6M)
($812.0K)
($14.9M)
Cash and cash equivalents - beginning of period
$4.8M
$5.6M
$20.4M
Cash and cash equivalents - end of period
$3.2M
$4.8M
—
Kodiak Gas Services Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$70.0M
$17.9M
$56.8M
$71.0M
Depreciation and amortization
$147.3M
$68.7M
$203.0M
$136.7M
Equity compensation expense
$14.5M
$5.9M
$18.0M
$13.3M
Amortization of debt issuance costs
$6.0M
$3.0M
$9.7M
$6.3M
Non-cash lease expense
$7.1M
$3.3M
$6.0M
$6.3M
Provision for credit losses
$2.3M
$1.2M
$1.0M
$995.0K
Inventory reserve
$0
$0
$124.0K
$123.0K
Loss on sale of assets
$4.2M
$1.3M
$54.0M
$15.8M
Amortization of interest rate swap
$0
$0
$5.2M
$4.1M
Deferred tax provision
$37.2M
$2.7M
$15.1M
$17.1M
Loss on extinguishment of debt
$36.5M
$36.5M
—
—
Accounts receivable
($49.5M)
($41.9M)
$25.5M
$28.0M
Inventories
($2.3M)
($2.4M)
$1.4M
$2.2M
Contract assets
($6.1M)
($2.5M)
$2.7M
$2.3M
Prepaid expenses and other current assets
$7.8M
$1.6M
($11.6M)
$1.4M
Accounts payable
($2.9M)
($38.0K)
$6.7M
($13.2M)
Accrued and other liabilities
($65.7M)
($22.9M)
$3.6M
($13.3M)
Contract liabilities
($20.7M)
($2.1M)
($2.5M)
$11.3M
Other assets
($15.1M)
$1.2M
$761.0K
$1.1M
Net cash provided by operating activities
$170.6M
$71.2M
$404.9M
$291.5M
Acquisition of DPS, net of cash acquired
($576.0M)
—
—
—
Purchase of property, plant and equipment
($318.6M)
($118.4M)
($262.6M)
($160.2M)
Proceeds from sale of assets
$7.6M
$3.5M
$26.9M
$17.6M
Net cash used for investing activities
($887.0M)
($114.9M)
($235.7M)
($142.6M)
Borrowings on debt instruments
$2.1B
$1.4B
$2.5B
$686.9M
Payments on debt instruments
($2.0B)
($1.1B)
($2.5B)
($730.1M)
Principal payments on other borrowings
($550.0K)
($395.0K)
($4.6M)
($3.5M)
Payment of debt issuance cost
($14.2M)
($13.0M)
($26.5M)
$0
Principal payments on finance leases
($1.2M)
($593.0K)
($2.4M)
($1.5M)
Proceeds from issuance of common stock, net of issuance costs
$836.1M
—
—
—
Dividends paid to stockholders
($92.6M)
($42.6M)
($116.6M)
($76.6M)
Repurchase of common shares
0
0
-70.3M
-20.0M
Cash paid for shares withheld to cover taxes
-14.2M
-15.0M
-6.0M
-3.3M
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock
$0
$0
$3.9M
$424.0K
Distributions to noncontrolling interest
($302.0K)
($151.0K)
($1.0M)
($694.0K)
Net cash provided by (used for) financing activities
$850.7M
$134.9M
($173.2M)
($148.3M)
Net increase in cash and cash equivalents
$134.4M
$91.2M
($4.0M)
$678.0K
Cash and cash equivalents - beginning of period
$3.2M
$3.2M
$4.8M
$4.8M
Cash and cash equivalents - end of period
$137.6M
$94.4M
$724.0K
$5.4M
Cash paid for interest
$103.5M
$41.3M
$136.9M
$87.1M
Cash paid for taxes
$4.3M
$54.0K
$5.7M
$5.4M
Increase in accrued capital expenditures
($25.6M)
$6.5M
($13.0M)
($3.4M)
Non-cash finance lease additions
$42.6M
—
—
—
Fair value changes in interest rate swap
($5.5M)
($1.9M)
$10.2M
$10.2M
Issuance of common shares related to DPS Acquisition