Kodiak Gas Services, Inc. (KGS)

Fixed asset turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022
Revenue (ttm)	US$ in thousands	1,286,651	1,273,461	1,159,311	1,075,772	982,108	875,761	850,381	804,177	755,839	729,684	707,913
Property, plant and equipment	US$ in thousands	—	3,459,700	3,454,470	3,465,520	—	—	—	2,544,560	2,521,640	—	—
Fixed asset turnover		—	0.37	0.34	0.31	—	—	—	0.32	0.30	—	—

June 30, 2025 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,286,651K ÷ $—K
= —

The analysis of Kodiak Gas Services, Inc.'s fixed asset turnover ratio reveals a pattern of measurement typically limited to specific periods, with several data points recorded at quarterly intervals. As of December 31, 2022, and March 31, 2023, the ratio was not available, providing no basis for trend evaluation during that initial period. The first recorded value appears on June 30, 2023, at 0.30, indicating the company's ability to generate revenue per dollar of fixed assets was modest at that time. This ratio slightly increased to 0.32 by September 30, 2023, suggesting a marginal improvement in asset efficiency in utilizing fixed assets to generate revenue in the subsequent quarter.

From December 31, 2023, onward, the fixed asset turnover ratio resumes reporting with a steady upward trend. It rose to 0.34 by the end of 2024, signaling enhanced efficiency in utilizing fixed assets for revenue generation over this period. This upward trend continues into 2025, reaching 0.37 by March 31, 2025. The ratio at this point suggests the company sustained an improving trajectory in fixed asset productivity. The most recent data point available as of September 30, 2024, shows a ratio of 0.31, indicating a slight dip before the rise observed in subsequent quarters.

Overall, the pattern indicates that Kodiak Gas Services, Inc. is experiencing gradual improvements in the efficiency of its fixed asset utilization over the analyzed periods, with notable increases during 2024 and into the first part of 2025. The absence of earlier data points limits the ability to assess long-term trends, but recent figures point to ongoing enhancements in fixed asset productivity. This progression could imply investments in asset management, operational efficiencies, or strategic changes that have positively impacted revenue generation relative to fixed assets.