Kodiak Gas Services, Inc. (KGS)
Return on total capital
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 327,143 | 281,989 | 273,052 | 225,540 | 249,324 | 272,474 | 235,017 | 264,105 | 304,821 | 269,000 | 288,813 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,348,470 | 1,343,830 | 1,359,910 | 1,246,550 | 1,310,850 | 1,144,970 | 1,142,650 | 1,171,790 | 192,875 | 217,436 | 229,093 |
| Return on total capital | 24.26% | 20.98% | 20.08% | 18.09% | 19.02% | 23.80% | 20.57% | 22.54% | 158.04% | 123.71% | 126.07% |
June 30, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $327,143K ÷ ($—K + $1,348,470K)
= 24.26%
The return on total capital (ROTC) for Kodiak Gas Services, Inc. exhibits substantial variability over the analyzed periods. As of December 31, 2022, the ROTC was notably high at approximately 126.07%, indicating a very strong ability to generate earnings relative to the total capital employed. This elevated level persisted into the first quarter of 2023, with a marginal decrease to around 123.71%, maintaining a robust performance.
By June 30, 2023, the ROTC experienced a significant increase to approximately 158.04%, reaching an even higher level that suggests enhanced profitability or improved efficiency in capital utilization during that period. However, in the subsequent quarter ending September 30, 2023, a sharp decline was observed, with the ROTC dropping sharply to approximately 22.54%, indicating a potential deterioration in profitability or operational efficiency.
Following this decline, the ROTC stabilized at lower levels through the end of 2023 and into early 2024, with values around 20.57% as of December 31, 2023, and slightly rising to 23.80% by March 31, 2024. The subsequent periods show a gradual decline again, with figures around 19.02% for June 30, 2024, and 18.09% for September 30, 2024. Towards the end of this period, a modest recovery is observed, with the ROTC reaching approximately 20.08% in December 2024 and increasing further to about 20.98% in March 2025. The latest available figure for June 30, 2025, indicates a slight upward trend to approximately 24.26%.
Overall, the data reflects periods of exceptionally high returns during early 2023, followed by pronounced fluctuations that suggest volatility in the company's profitability relative to its total capital base. The recent trend indicates stabilization at lower levels compared to the peak periods but with some signs of gradual improvement.
Peer comparison
Jun 30, 2025