# Kodiak Gas Services (KGS.US)

Canonical: https://gigainvestors.com/s/KGS

Analysis as of: 2026-10-16T07:29:37.211Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $47.81 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Stephen Mandel](https://gigainvestors.com/LPC): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 36% since Jun 2026 · "Kodiak Gas Services (KGS) Stock May Be Above Fair Value After Q2 Earnings Miss" (finance.yahoo.com, Aug 2026)

Story as of 2026-10-16T09:59:00.936Z; price observation 2026-10-15.

- 2026-02-11: Kodiak Gas Services (KGS) Agrees to Acquire Distributed Power Solutions ([finance.yahoo.com](https://finance.yahoo.com/news/kodiak-gas-services-kgs-agrees-191309011.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in oil & gas equipment & services; annual sales are USD 1.3 billion.

- Source: https://www.sec.gov/Archives/edgar/data/1767042/000176704226000012/kgs-20251231.htm (filed 2026-02-26); FY2025: revenue 1308100000; grossProfit 551990000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); KGS.US: Kodiak Gas Services, Inc. operates and provides contract compression infrastructure for customers in the oil and gas industry in the United States. It operates in two segments, Contract Services and Other Services. The Contract Services segment operates company-owned and customer-owned compression, and gas treating and cooling infrastructure to enable the production, gathering, processing, and transportation of natural gas and oil. The Other Services segment provides a range of services to support the needs of customers, including station construction, maintenance and overhaul, freight and crane charges, parts sales, and other ancillary time and material-based offerings. The company was formerly known as Frontier TopCo, Inc. Kodiak Gas Services, Inc. was founded in 2010 and is headquartered in The Woodlands, Texas.

### Why customers stay

Margins ranged from 37.2% to 42.2% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2023: grossProfit / revenue = 37.2%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2024: grossProfit / revenue = 38%.

- Source: https://www.sec.gov/Archives/edgar/data/1767042/000176704226000012/kgs-20251231.htm (filed 2026-02-26); FY2025: grossProfit / revenue = 42.2%.

### Where the cash goes

Reinvests 48.8% of cash earnings; paid dividends in 6 of 6 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2021: growth capex 41889000; upkeep 160045000; owner earnings 180963000. Growth capex / owner earnings = 0.23147825798643923.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2022: growth capex 84886000; upkeep 174463000; cash acquisitions 0; owner earnings 106265000. Growth capex plus acquisitions / owner earnings = 0.7988142850421117.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2023: growth capex 36926000; upkeep 182869000; cash acquisitions 0; owner earnings 20066000. Growth capex plus acquisitions / owner earnings = 1.8402272500747534.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); FY2024: growth capex 76684000; upkeep 260272000; cash acquisitions 0; owner earnings 49895000. Growth capex plus acquisitions / owner earnings = 1.5369075057621004.

- Source: https://www.sec.gov/Archives/edgar/data/1767042/000176704226000012/kgs-20251231.htm (filed 2026-02-26); FY2025: growth capex 39287000; upkeep 276185000; cash acquisitions 0; owner earnings 80521000. Growth capex plus acquisitions / owner earnings = 0.48790998621477627.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); Dividend observations: [[2020,1132000],[2021,1132000],[2022,838000000],[2023,72093000],[2024,133886000],[2025,159557000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/1767042/000176704226000012/kgs-20251231.htm (filed 2026-02-26); FY2025: cash repurchases 103968000 USD.

### Are managers owners

Insiders own 0.6% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); KGS.US SharesStats.PercentInsiders = 0.609 percentage points; cache date 2026-10-16.

### What the price says

The price is 3.2 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-26); Closing price 47.81 USD; reporting-to-trading FX 1; FY2025 annual sales per share 14.776950623001932; price multiple 3.235444255026374. FY2025 cash earnings/share 0.9096054132824237. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2023-06: $16.24 per share

- 2023-07: $18.70 per share

- 2023-08: $18.29 per share

- 2023-09: $17.88 per share

- 2023-10: $17.19 per share

- 2023-11: $17.63 per share

- 2023-12: $20.08 per share

- 2024-01: $23.42 per share

- 2024-02: $25.50 per share

- 2024-03: $27.34 per share

- 2024-04: $27.18 per share

- 2024-05: $27.55 per share

- 2024-06: $27.26 per share

- 2024-07: $28.85 per share

- 2024-08: $27.75 per share

- 2024-09: $29.00 per share

- 2024-10: $31.88 per share

- 2024-11: $40.44 per share

- 2024-12: $40.83 per share

- 2025-01: $46.78 per share

- 2025-02: $43.00 per share

- 2025-03: $37.30 per share

- 2025-04: $34.01 per share

- 2025-05: $35.31 per share

- 2025-06: $34.27 per share

- 2025-07: $32.33 per share

- 2025-08: $35.79 per share

- 2025-09: $36.97 per share

- 2025-10: $36.88 per share

- 2025-11: $35.20 per share

- 2025-12: $37.40 per share

- 2026-01: $42.01 per share

- 2026-02: $54.57 per share

- 2026-03: $58.32 per share

- 2026-04: $67.80 per share

- 2026-05: $66.85 per share

- 2026-06: $75.13 per share

- 2026-07: $58.71 per share

- 2026-08: $58.77 per share

- 2026-09: $52.97 per share

- 2026-10: $47.81 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1767042/000176704226000012/kgs-20251231.htm); period 2025-12-31, filed 2026-02-26.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.

## Reported holder observations

- [Stephen Mandel](https://gigainvestors.com/LPC): 845,070 KGS shares; USD 63,490,000 reported position value; 0.39% of portfolio; new; quarter 2026 Q2.

# KGS — Kodiak Gas Services Inc

Held by 1 investor · USD 63,490,000 total · 2026 Q2 · reported price USD 75.13 (split-adjusted).
Page: https://gigainvestors.com/s/KGS

## Holders (2026 Q2)

| Investor | Value | % of their portfolio | This quarter |
|---|---:|---:|---|
| Stephen Mandel (https://gigainvestors.com/LPC) | USD 63,490,000 | 0.4% | new |

## Total held by quarter

- 2026 Q2: USD 63,490,000 · 1 holder · USD 75.13