Kodiak Gas Services vs Bristow Group
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KIRAβs take AI analyst
I put Kodiak Gas Services and Bristow Group side by side, using each oneβs latest annual report. Here is what stands out:
- 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%).
- Kodiak Gas Services turned more of its sales into free cash flow (21.7% FCF margin, against 3.8%).
- 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 Servicesβs earnings: a P/E of 52.8x against 11.7x for Bristow Group.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Kodiak Gas Services
KGS
3/9
Revenue growthOperating marginFCF margin
Bristow Group
VTOL
6/9
Net marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| 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 | β | 45.8% |
| Share count change | 3.9% | 1.1% |
| Profitability | ||
| Gross margin | β | β |
| 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 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.