NATURAL GAS SERVICES GROUP INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NATURAL GAS SERVICES GROUP INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	71.7	67.7	65.5	78.4	68.1	72.4	84.8	121	157	172
Cost of revenue							46.4	62.5	68.8	71.8
Gross profit							38.5	58.7	88	101
Selling, general and administrative	9.01	10.1	9.1	10.7	10.6	10.8	13.9	16.9	21	22.4
Operating income	8.43	1.47	-0.51	-15.2	-3.6	-12.4	0.43	10.5	33.3	37.3
Interest expense	0.01	0.01	0.07	0.02	0.01	0.07	0.36	4.08	11.9	13.6
Interest income								0	0	2.44
Other non-operating income	0.04	0.04	0.11	0.6	0.62	0.62	-0.47	-3.84	-11.7	-10.8
Pre-tax income	8.47	1.51	-0.39	-14.6	-2.98	-11.8	-0.04	6.62	21.7	26.5
Income tax	2	-18.3	0.07	-0.69	-4.79	-2.6	0.53	1.87	4.44	6.6
Net income	6.47	19.8	-0.47	-13.9	1.81	-9.18	-0.57	4.75	17.2	19.9
EBITDA	30.2	22.8	21.6	8.12	21.6	13	24.5	37	64.7	74
EPS, basic	0.51	1.54	-0.04	-1.06	0.14	-0.70	-0.05	0.39	1.39	1.59
EPS, diluted	0.50	1.51	-0.04	-1.06	0.14	-0.70	-0.05	0.38	1.37	1.57
Shares, basic (weighted)	12.7	12.8	13	13.1	13.2	13.1	12.3	12.3	12.4	12.5
Shares, diluted (weighted)	12.9	13.1	13	13.1	13.3	13.1	12.3	12.4	12.6	12.7

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	64.1	69.2	52.6	11.6	28.9	22.9	3.37	2.75	2.14	0
Receivables	7.38	8.53	7.22	9.11	11.9	10.4	14.7	39.2	15.6	18.5
Inventory	21.4	26.2	30.2	21.1	19.9	19.3	23.4	21.6	18.1	20.6
Other current assets	0.97	0.82	1.7	0.6	0.38	0.85	1.16	1.16	1.08	1.7
Total current assets	95.4	108	94.9	42.4	72.7	65.1	54.1	76.3	48.2	57.1
Property, plant and equipment	7.75	7.65	16.6	21.9	21.7	20.8	22.2	20.6	23	20.5
Lease right-of-use assets			0	0.6	0.48	0.29	0.35	0.21	0.61	2.37
Goodwill	10	10	10	0						0
Intangible assets	1.65	1.53	1.4	1.28	1.15	1.03	0.9	0.78	0	0
Other non-current assets	0.26	0.94	1.11	1.6	2.05	2.7	3.02	6.78	6.34	10.6
Total assets	294	298	304	287	307	299	328	479	493	587
Accounts payable	0.97	4.16	2.12	1.98	2.37	4.8	6.48	17.6	9.67	14
Accrued liabilities	2.89	3.11	8.74	2.29	6.77	14.1	23.9	15.1	7.69	10.5
Deferred revenue	2.23	0.19	0.08	0.64	1.1	1.31	0.04	0.42	0	0
Total current liabilities	6.5	7.45	10.9	5.51	10.9	20.3	30.4	32.7	17.4	24.5
Lease liabilities			0	0.42	0.29	0.22	0.19	0.17	0.45	1.91
Other non-current liabilities	0.33	0.96	1.7	1.72	2.22	2.81	2.97	4.49	4.24	5.03
Total liabilities	60.6	41	45	38.9	55.3	62.6	98.2	243	237	312
Total debt							25	164
Paid-in capital	101	105	108	111	113	114	115	116	118	121
Retained earnings	132	152	151	137	139	130	130	134	152	169
Treasury stock			0	-0.49	-0.49	-8.34	-15	-15	-15	-15
Shareholders' equity	233	257	259	248	252	236	230	236	255	275
Total equity	233	257	259	248	252	236	230	236	255	275
Total liabilities and equity	294	298	304	287	307	299	328	479	493	587
Shares outstanding	12.8	12.9	13	13.2	13.3	13.4	13.5	12.4	12.5	12.6

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	6.47	19.8	-0.47	-13.9	1.81	-9.18	-0.57	4.75	17.2	19.9
Depreciation and amortization	21.8	21.3	22.1	23.3	25.2	25.4	24.1	26.6	31.3	36.7
Stock-based compensation	2.3	4.04	2.39	2.58	2.2	1.74	1.91	2.05	1.82	2.13
Deferred income tax	-2.71	-21.6	0.31	-0.66	10.6	-2.6	0.51	1.84	4.24	6.66
Change in receivables	1.67	-1.25	1.5	-2.55	-3.11	1.43	-4.28	-25	23.1	-3.03
Change in inventory	1.13	-5.22	-5.1	8.26	1.03	-1.28	-4.14	-0.67	2.48	-3.71
Change in payables	-0.44	3.41	3.6	-7.23	4.88	9.76	10	2.44	-17.7	5.55
Cash from operations	31.8	17.5	23.7	29.4	32.6	28.5	27.8	18	66.5	62.9
Capital expenditures	-3.32	-13.5	-40.1	-69.9	-15.3	-25.7	-65.1	-154	-71.9	-121
Cash from investing	-3.41	-12.8	-40.3	-70.2	-15.2	-25.7	-65.1	-154	-71.4	-121
Stock issued	1.04	1.12	0.68	0.51	0		0	0	0.29	0.17
Share buybacks		0	0	-0.49	0	-7.85	-6.66	0	0
Dividends paid								0	0	-2.64
Cash from financing	0.19	0.45	0.02	-0.27	-0.16	-8.85	17.7	135	4.37	56.2
Net change in cash	28.6	5.11	-16.6	-41	17.3	-5.98	-19.6	-0.63	-0.6	-2.14
Free cash flow	28.5	3.96	-16.4	-40.5	17.4	2.82	-37.4	-136	-5.43	-58.6
Interest paid	0.01	0.01	0.01	0.04	0.01	0.03	0.28	7.05	18.4	14.8
Income taxes paid	5.83	3.73	0.09	0.28	0.11	0	0	0	0	0.26

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $32.80 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	59.7%	Gross profit / revenue.
Operating margin	21.6%	Operating income / revenue.
EBITDA margin	42.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	14.7%	Pre-tax income / revenue.
Net margin	10.8%	Net income / revenue.
FCF margin	-16.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	41.8%	Cash from operations / revenue.
Effective tax rate	26.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.9%	Net income / average total assets.
Return on invested capital (ROIC)	10.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	14.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	58.3%	Capital expenditures / revenue.
D&A / revenue	21.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	26.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	20.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	14.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	37.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	11.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	342.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	14.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	44.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	27.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	15.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	61.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	14.6%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	62.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-5.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	31.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	14.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	7.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	19.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	21.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	13.8%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.01x	Current assets / current liabilities.
Quick ratio	0.68x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.00x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	59.0%	Total liabilities / total assets.
Interest coverage	2.62x	Operating income / interest expense.
Working capital	$33.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$292.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.26x	Revenue / average total assets.
Fixed asset turnover	8.59x	Revenue / average property, plant and equipment.
Inventory turnover	2.62x	Cost of revenue / average inventory.
Days inventory	139 days	365 x average inventory / cost of revenue.
Receivables turnover	8.60x	Revenue / average receivables.
Days sales outstanding	42 days	365 x average receivables / revenue.
Days payables	80 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	102 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-153.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	139.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.59	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$14.75	Revenue / diluted weighted shares.
FCF per share	-$2.44	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.16	Cash from operations / diluted weighted shares.
Book value per share	$22.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$22.78	Tangible book value / shares outstanding.
Cash per share	$0.01	(Cash + short-term investments) / shares outstanding.
Payout ratio	28.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$423.1M	Share price x shares outstanding.
Enterprise value	$423.0M	Market cap + total debt - cash - short-term investments.
P/E	20.7x	Market cap / net income. Only when net income is positive.
P/S	2.23x	Market cap / revenue.
P/B	1.44x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.45x	Market cap / tangible book value, when positive.
P/OCF	5.35x	Market cap / cash from operations, when positive.
EV/Sales	2.23x	Enterprise value / revenue.
EV/EBIT	10.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.21x	Enterprise value / EBITDA, when both are positive.
FCF yield	-7.4%	Free cash flow / market cap.
Earnings yield	4.8%	Net income / market cap (the inverse of P/E).
Dividend yield	1.4%	Dividends paid over the period / market cap.
Shareholder yield	1.4%	(Dividends paid + share buybacks) / market cap.

What was NATURAL GAS SERVICES GROUP INC's revenue in fiscal 2025?

NATURAL GAS SERVICES GROUP INC reported revenue of $172.3M for fiscal 2025, 9.9% higher than the year before.

Was NATURAL GAS SERVICES GROUP INC profitable in fiscal 2025?

Yes. Net income was $19.9M, a net margin of 11.6%.

How much free cash flow did NATURAL GAS SERVICES GROUP INC generate in fiscal 2025?

Cash from operations of $62.9M minus capital expenditures of $121.5M left free cash flow of -$58.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to NATURAL GAS SERVICES GROUP INC