Kodiak Gas Services, Inc. (KGS)

Operating profit margin

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
Operating income (ttm) US$ in thousands 324,041 294,692 273,544 269,467 264,346 256,025 248,342 233,440 230,735 220,579 214,573
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
Operating profit margin 25.18% 23.14% 23.60% 25.05% 26.92% 29.23% 29.20% 29.03% 30.53% 30.23% 30.31%

June 30, 2025 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $324,041K ÷ $1,286,651K
= 25.18%

The operating profit margin of Kodiak Gas Services, Inc. demonstrates a generally stable yet gradually declining trend over the period examined. Starting at approximately 30.31% at the end of December 2022, the margin exhibits minor fluctuations in the subsequent quarters, reaching a peak of around 30.53% in June 2023. This slight upward movement suggests periods of marginally improved operational efficiency or revenue generation relative to operating expenses during that timeframe.

However, from September 2023 onward, a downward trajectory becomes evident. By the end of December 2023, the operating profit margin declines to approximately 29.20%, indicating a modest contraction in operational profitability. This downward trend persists into 2024, with further decreases noted: March 2024 at 29.23%, June 2024 at 26.92%, and September 2024 at 25.05%. The decline accelerates in the latter half of 2024 and into early 2025, with March 2025 reporting a margin of approximately 23.14%, and a slight recovery to around 25.18% by June 2025.

Overall, the operating profit margin reflects a pattern of relative stability initially, followed by a consistent decline that may be attributable to increased operational costs, competitive pressures, or changes in revenue structure. The partial recovery noted in June 2025 suggests some operational adjustments or external factors may be influencing margins favorably, but the overall trend indicates a declining profitability at the operating level over the analyzed period.