Kodiak Gas Services
KGS · Oil & Gas Equipment & Services
$44.31
0.5%Bristow Group
VTOL · Oil & Gas Equipment & Services
$40.54
6.6%The short version
- Bristow Group is the larger business, with $1.5B of revenue in fiscal 2025 against $1.3B for Kodiak Gas Services.
- Kodiak Gas Services grew revenue faster (12.8%, against 5.3%).
- Kodiak Gas Services kept more of each dollar of sales as operating profit (26.0% operating margin, against 10.7% operating margin).
- Kodiak Gas Services turned more of its sales into free cash flow (21.7% FCF margin, against 3.8% FCF margin).
- Bristow Group earned a higher return on the capital invested in it (9.8%, against 6.3%).
- Investors pay more for each dollar of Kodiak Gas Services’s earnings: a P/E of 52.8x against 11.7x for Bristow Group.
| Latest fiscal year | KGS · FY25 | VTOL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.3B | $1.2B |
| Revenue | $1.3B | $1.5B |
| Free cash flow | $284M | $56.4M |
| Net income | $80.5M | $129M |
| Growth | ||
| Revenue growth | 12.8% | 5.3% |
| 5-year growth | — | 45.8% |
| Share count change | 3.9% | 1.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 26.0% | 10.7% |
| Net margin | 6.2% | 8.7% |
| FCF margin | 21.7% | 3.8% |
| Return on capital | 6.3% | 9.8% |
| Return on equity | 6.2% | 13.2% |
| Balance sheet | ||
| Net debt | $2.6B | $385M |
| Net debt / EBITDA | 4.2x | 1.7x |
| Dividends and buybacks | $264M | $15.2M |
| Valuation & quality | ||
| P/E | 52.8x | 11.7x |
| Piotroski F-score | 5 | 6 |
FY15
KGS —
VTOL $282M
FY16
KGS —
VTOL $247M
FY17
KGS —
VTOL $231M
FY18
KGS —
VTOL $222M
FY19
KGS —
VTOL $226M
FY21
KGS $606M
VTOL $1.2B
FY22
KGS $708M
VTOL $1.2B
FY23
KGS $850M
VTOL $1.3B
FY24
KGS $1.2B
VTOL $1.4B
FY25
KGS $1.3B
VTOL $1.5B
KGS
VTOL
FY15
KGS —
VTOL 8.6%
FY16
KGS —
VTOL −1.4%
FY17
KGS —
VTOL −59.0%
FY18
KGS —
VTOL 12.7%
FY19
KGS —
VTOL −1.5%
FY21
KGS 31.2%
VTOL —
FY22
KGS 31.4%
VTOL —
FY23
KGS 28.7%
VTOL 4.7%
FY24
KGS 21.5%
VTOL 9.4%
FY25
KGS 26.0%
VTOL 10.7%
KGS
VTOL
FY15
KGS —
VTOL −$15.6M
FY16
KGS —
VTOL $19.3M
FY17
KGS —
VTOL $3.3M
FY18
KGS —
VTOL $45.1M
FY19
KGS —
VTOL $21.0M
FY21
KGS $48.0M
VTOL $82.0M
FY22
KGS −$39.5M
VTOL $92.8M
FY23
KGS $46.5M
VTOL −$49.5M
FY24
KGS −$9.0M
VTOL −$78.0M
FY25
KGS $284M
VTOL $56.4M
KGS
VTOL
FY15
KGS —
VTOL 1.7%
FY16
KGS —
VTOL −0.4%
FY17
KGS —
VTOL −16.4%
FY18
KGS —
VTOL 3.7%
FY19
KGS —
VTOL −0.5%
FY21
KGS —
VTOL —
FY22
KGS —
VTOL 2.5%
FY23
KGS 4.8%
VTOL 2.7%
FY24
KGS 4.8%
VTOL 9.8%
FY25
KGS 6.3%
VTOL 9.8%
KGS
VTOL
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.