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Kodiak Gas Services KGS Compression Infrastructure — Adjusted gross margin

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Other financials

Income statement

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Revenue$391.1M+21.1%
Gross profit$246.8M+18.9%
Operating income$124.2M+24.6%
Net income$52.0M+31.6%
EPS (diluted)$0.53+23.3%

Balance sheet

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Cash & equivalents$137.6M+2,434%
Total debt$2.8B+8.7%
Total equity$2.2B+60.5%
Total assets$5.5B+25.7%

Cash flow

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Operating cash flow$99.5M-43.9%
CapEx$200.2M+142%
Free cash flow-$100.7M-207%

Valuation

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Market cap$6.21B+113%
Enterprise value$8.89B+61.7%
P/E77.2×+42.3×
P/S4.5×+2.2×

Profitability

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Gross margin63.8%+2.0pp
Operating margin27.4%+2.3pp
Net margin5.8%-0.7pp
FCF margin0.4%

Returns & leverage

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Return on equity4.6%-1.4pp
Debt / equity1.3×-0.6×
Current ratio1.4×+0.3×

Where this comes from

Reported directly by Kodiak Gas Services in its filing.

Tagged under the XBRL concept kgs:AdjustedGrossMargin.

The source filing: Kodiak Gas Services’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:47 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001767042-26-000055
(in thousands) / Three Months Ended June 30, 2026Compression InfrastructurePower InfrastructureOther ServicesTotal
Revenue$315,125$32,891$43,104$391,120
Cost of operations (exclusive of depreciation and amortization)94,43511,68638,235144,356
Adjusted gross margin220,69021,2054,869246,764
Capital expenditures82,197118,012200,209
Three Months Ended June 30, 2025
Revenue$293,534$29,309$322,843
Cost of operations (exclusive of depreciation and amortization)93,13722,114115,251
Adjusted gross margin200,3977,195207,592

Item 1. Financial Statements (Unaudited)

FAQ

What is Kodiak Gas Services's compression infrastructure — adjusted gross margin?
Kodiak Gas Services (KGS) reported compression infrastructure — adjusted gross margin of $220.69M in Q2 2026.
What does compression infrastructure — adjusted gross margin mean?
Calculated as the revenue from compression services minus the direct costs of operations, adjusted for non-recurring or non-cash items. This metric evaluates the core profitability and operational efficiency of the compression infrastructure business. It is a key indicator of the company's ability to manage service costs relative to contract pricing.

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