Kodiak Gas Services, Inc. (KGS)

Current ratio

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
Total current assets US$ in thousands 345,525 387,078 383,661 443,357 352,359 263,255 230,226 216,470 262,152 226,121 204,035
Total current liabilities US$ in thousands 313,318 329,869 319,369 348,788 334,434 237,904 210,629 223,200 209,798 181,566 188,974
Current ratio 1.10 1.17 1.20 1.27 1.05 1.11 1.09 0.97 1.25 1.25 1.08

June 30, 2025 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $345,525K ÷ $313,318K
= 1.10

The analysis of Kodiak Gas Services, Inc.’s current ratio over the specified periods reveals a pattern of fluctuations indicating variability in the company's short-term liquidity position. As of December 31, 2022, the current ratio stood at 1.08, suggesting that current assets slightly exceeded current liabilities, implying adequate liquidity at that point. Moving into the first quarter of 2023, the ratio increased to 1.25 and remained steady through June 30, 2023, maintaining a relatively comfortable liquidity buffer.

However, by September 30, 2023, the ratio declined to 0.97, falling below the critical threshold of 1.0. This indicates that current liabilities temporarily exceeded current assets, suggesting a potential short-term liquidity concern during that period. The ratio partially recovered to 1.09 by the end of 2023 and further increased to 1.11 in the first quarter of 2024, demonstrating an improvement in short-term financial health.

Subsequently, the ratio experienced a slight decline to 1.05 by June 30, 2024, but increased again to 1.27 in the third quarter of 2024, reaching a relatively higher level of liquidity. By December 31, 2024, the ratio decreased slightly to 1.20, and further reductions were observed in March and June 2025, with ratios of 1.17 and 1.10 respectively. In the most recent quarter, September 30, 2024, the ratio peaked at 1.27, indicating strong liquidity. Overall, the current ratio has fluctuated around the 1.0 to 1.25 range in recent periods, suggesting periods of adequate liquidity interspersed with brief intervals of potential liquidity stress.