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Flowco (FLOC) Financials

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$21.96 +0.02 (+0.09%)
As of 11:07 AM Eastern
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Annual Income Statements for Flowco

Annual Income Statements for Flowco

This table shows Flowco's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
0.00 0.00 41
Consolidated Net Income / (Loss)
58 80 132
Net Income / (Loss) Continuing Operations
58 80 132
Total Pre-Tax Income
58 81 131
Total Operating Income
78 117 149
Total Gross Profit
181 345 528
Total Revenue
243 535 760
Operating Revenue
243 535 760
Total Cost of Revenue
63 190 232
Operating Cost of Revenue
63 190 232
Total Operating Expenses
102 229 378
Selling, General & Admin Expense
15 62 119
Depreciation Expense
44 91 145
Other Operating Expenses / (Income)
42 74 114
Other Special Charges / (Income)
1.17 0.80 0.74
Total Other Income / (Expense), net
-20 -35 -18
Interest Expense
19 33 19
Other Income / (Expense), net
-0.91 -2.76 0.74
Income Tax Expense
0.38 1.17 -0.84
Net Income / (Loss) Attributable to Noncontrolling Interest
0.00 0.00 90
Basic Earnings per Share
$0.00 $0.00 $1.53
Weighted Average Basic Shares Outstanding
0.00 0.00 26.98M
Diluted Earnings per Share
$0.00 $0.00 $1.24
Weighted Average Diluted Shares Outstanding
0.00 0.00 90.67M
Weighted Average Basic & Diluted Shares Outstanding
- - 89.66M

Quarterly Income Statements for Flowco

This table shows Flowco's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders
0.00 0.00 0.00 - 6.17 5.47 13 17 7.44 13
Consolidated Net Income / (Loss)
17 20 21 22 27 27 34 43 27 31
Net Income / (Loss) Continuing Operations
17 20 21 22 27 27 34 43 27 31
Total Pre-Tax Income
17 20 21 23 30 31 32 38 31 36
Total Operating Income
22 28 33 34 35 37 35 42 36 41
Total Gross Profit
50 62 114 120 127 131 132 138 147 162
Total Revenue
67 93 189 186 192 193 177 197 210 236
Operating Revenue
67 93 189 186 192 193 177 197 210 236
Total Cost of Revenue
17 32 76 66 66 63 45 59 62 74
Operating Cost of Revenue
17 32 76 66 66 63 45 59 62 74
Total Operating Expenses
28 34 81 86 91 94 97 96 111 120
Selling, General & Admin Expense
4.48 6.72 25 26 31 33 29 26 36 36
Depreciation Expense
12 14 31 34 34 33 39 39 41 49
Other Operating Expenses / (Income)
11 13 25 26 27 28 29 31 33 35
Other Special Charges / (Income)
0.39 0.27 0.07 0.07 -0.05 0.07 0.23 0.49 0.31 0.18
Total Other Income / (Expense), net
-4.91 -7.45 -12 -11 -5.63 -5.89 -2.53 -4.15 -4.81 -5.63
Interest Expense
4.81 5.51 12 10 5.37 6.45 2.76 4.37 4.35 5.60
Other Income / (Expense), net
-0.10 -1.94 0.23 -0.94 -0.27 0.56 0.23 0.22 -0.46 -0.03
Income Tax Expense
0.13 0.17 0.40 0.47 2.65 3.88 -2.21 -5.16 4.03 4.65
Net Income / (Loss) Attributable to Noncontrolling Interest
0.00 0.00 0.00 - 21 22 22 26 20 18
Basic Earnings per Share
$0.00 $0.00 $0.00 - $0.24 $0.21 $0.46 $0.86 $0.24 $0.29
Weighted Average Basic Shares Outstanding
0.00 0.00 0.00 0.00 25.72M 25.73M 27.45M 26.98M 31.62M 42.86M
Diluted Earnings per Share
$0.00 $0.00 $0.00 - $0.24 $0.21 $0.32 $0.71 $0.23 $0.28
Weighted Average Diluted Shares Outstanding
0.00 0.00 0.00 0.00 26.19M 26.20M 90.66M 90.67M 32.72M 43.97M
Weighted Average Basic & Diluted Shares Outstanding
- - - 0.00 90.55M 90.56M 89.65M 89.66M 90.35M 90.35M

Annual Cash Flow Statements for Flowco

This table details how cash moves in and out of Flowco's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
0.00 4.62 -0.09
Net Cash From Operating Activities
82 179 294
Net Cash From Continuing Operating Activities
82 179 294
Net Income / (Loss) Continuing Operations
58 80 132
Consolidated Net Income / (Loss)
58 80 132
Depreciation Expense
44 91 145
Amortization Expense
0.91 5.04 11
Non-Cash Adjustments To Reconcile Net Income
4.08 5.90 16
Changes in Operating Assets and Liabilities, net
-25 -2.67 -8.82
Net Cash From Investing Activities
-43 -94 -200
Net Cash From Continuing Investing Activities
-43 -94 -200
Purchase of Property, Plant & Equipment
-44 -97 -199
Acquisitions
0.00 0.00 -0.55
Sale of Property, Plant & Equipment
0.84 0.17 0.47
Divestitures
0.00 3.09 0.00
Other Investing Activities, net
0.00 -0.19 -0.57
Net Cash From Financing Activities
-39 -80 -95
Net Cash From Continuing Financing Activities
-39 -80 -95
Repayment of Debt
-174 -303 -1,115
Repurchase of Common Equity
0.00 0.00 -17
Payment of Dividends
-53 -231 -35
Issuance of Debt
188 460 647
Issuance of Common Equity
0.00 0.00 462
Other Financing Activities, net
-1.53 -6.79 -36
Cash Interest Paid
19 29 16
Cash Income Taxes Paid
0.00 0.00 5.10

Quarterly Cash Flow Statements for Flowco

This table details how cash moves in and out of Flowco's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents
0.86 4.19 18 -19 -3.93 8.60 -2.05 -2.71 13 1.85
Net Cash From Operating Activities
28 22 67 62 43 82 82 87 79 95
Net Cash From Continuing Operating Activities
28 22 67 62 43 82 82 87 79 95
Net Income / (Loss) Continuing Operations
17 20 21 22 27 27 34 43 27 31
Consolidated Net Income / (Loss)
17 20 21 22 27 27 34 43 27 31
Depreciation Expense
12 14 31 34 34 33 39 39 41 49
Amortization Expense
0.28 0.44 1.97 2.35 2.39 2.30 2.95 3.54 2.88 3.09
Non-Cash Adjustments To Reconcile Net Income
0.29 1.64 -2.18 6.15 3.89 5.30 -5.33 9.82 4.66 4.62
Changes in Operating Assets and Liabilities, net
-1.23 -14 16 -3.03 -25 14 12 -7.77 2.22 7.20
Net Cash From Investing Activities
-15 -9.62 -35 -36 -28 -36 -112 -24 -188 -46
Net Cash From Continuing Investing Activities
-15 -9.62 -35 -36 -28 -36 -112 -24 -188 -46
Purchase of Property, Plant & Equipment
-15 -13 -35 -35 -28 -36 -111 -24 -26 -45
Acquisitions
- - - - 0.00 - - - -162 -0.08
Sale of Property, Plant & Equipment
0.03 - 0.13 0.01 0.21 0.06 0.16 0.03 0.00 0.10
Other Investing Activities, net
0.00 - -0.06 -0.13 -0.02 -0.08 -0.34 -0.14 -0.13 -0.18
Net Cash From Financing Activities
-13 -8.13 -14 -45 -19 -38 28 -66 122 -48
Net Cash From Continuing Financing Activities
-13 -8.13 -14 -45 -19 -38 28 -66 122 -48
Repayment of Debt
0.00 -51 -118 -133 -580 -142 -200 -208 -309 -227
Payment of Dividends
-17 -14 -100 -100 0.00 -21 -7.26 -7.17 -17 -14
Issuance of Debt
5.36 57 205 192 125 128 256 153 469 198
Other Financing Activities, net
-0.99 -0.34 -1.17 -4.29 -24 -2.56 -5.64 -3.80 -4.06 -4.20

Annual Balance Sheets for Flowco

This table presents Flowco's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2025
Period end date 12/31/2024 12/31/2025
Total Assets
1,589 1,646
Total Current Assets
286 260
Cash & Equivalents
4.62 4.52
Accounts Receivable
120 100
Inventories, net
151 150
Prepaid Expenses
9.98 5.62
Plant, Property, & Equipment, net
703 798
Total Noncurrent Assets
600 589
Noncurrent Note & Lease Receivables
22 26
Goodwill
250 250
Intangible Assets
303 273
Noncurrent Deferred & Refundable Income Taxes
0.00 17
Other Noncurrent Operating Assets
26 23
Total Liabilities & Shareholders' Equity
1,589 1,646
Total Liabilities
750 288
Total Current Liabilities
88 78
Short-Term Debt
6.81 8.00
Accounts Payable
31 23
Accrued Expenses
34 27
Current Deferred Revenue
8.00 7.38
Current Deferred & Payable Income Tax Liabilities
- 0.00
Other Current Liabilities
7.84 13
Total Noncurrent Liabilities
662 210
Long-Term Debt
636 168
Capital Lease Obligations
26 21
Noncurrent Deferred & Payable Income Tax Liabilities
0.00 22
Commitments & Contingencies
0.00 0.00
Redeemable Noncontrolling Interest
0.00 1,129
Total Equity & Noncontrolling Interests
839 229
Total Preferred & Common Equity
0.00 229
Total Common Equity
839 229
Common Stock
839 41
Retained Earnings
0.00 188

Quarterly Balance Sheets for Flowco

This table presents Flowco's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets
1,606 1,606 1,686 1,898 1,923
Total Current Assets
297 292 293 356 371
Cash & Equivalents
0.69 9.29 7.24 17 19
Accounts Receivable
134 123 119 146 145
Inventories, net
157 151 159 186 186
Prepaid Expenses
5.00 9.37 7.67 6.25 20
Plant, Property, & Equipment, net
707 718 801 854 863
Total Noncurrent Assets
602 596 592 688 689
Noncurrent Note & Lease Receivables
23 26 27 25 25
Goodwill
250 250 250 305 305
Intangible Assets
295 287 281 316 306
Noncurrent Deferred & Refundable Income Taxes
10 10 12 20 27
Other Noncurrent Operating Assets
24 23 22 22 26
Total Liabilities & Shareholders' Equity
1,606 1,606 1,686 1,898 1,923
Total Liabilities
300 291 365 554 564
Total Current Liabilities
86 90 101 115 139
Short-Term Debt
- - - - 8.58
Accounts Payable
32 33 32 45 45
Accrued Expenses
27 30 36 32 49
Current Deferred Revenue
7.58 5.92 13 17 19
Current Deferred & Payable Income Tax Liabilities
- - - - 3.50
Other Current Liabilities
20 20 20 21 13
Total Noncurrent Liabilities
214 201 264 439 425
Long-Term Debt
181 167 223 328 298
Capital Lease Obligations
9.93 12 12 9.85 22
Noncurrent Deferred & Payable Income Tax Liabilities
12 12 20 92 105
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
1,676 1,165 950 1,008 994
Total Equity & Noncontrolling Interests
-370 150 371 336 365
Total Preferred & Common Equity
-370 150 371 336 365
Total Common Equity
-370 150 371 336 365
Common Stock
0.01 18 56 336 340
Retained Earnings
-370 132 315 0.00 25

Annual Metrics And Ratios for Flowco

This table displays calculated financial ratios and metrics derived from Flowco's official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Growth Metrics
- - -
Revenue Growth
0.00% 119.99% 41.93%
EBITDA Growth
0.00% 71.82% 45.68%
EBIT Growth
0.00% 47.22% 31.38%
NOPAT Growth
0.00% 47.85% 30.34%
Net Income Growth
0.00% 38.15% 64.06%
EPS Growth
0.00% 0.00% 0.00%
Operating Cash Flow Growth
0.00% 119.13% 64.10%
Free Cash Flow Firm Growth
0.00% 0.00% 108.73%
Invested Capital Growth
0.00% 0.00% 1.91%
Revenue Q/Q Growth
0.00% 0.00% 0.00%
EBITDA Q/Q Growth
0.00% 0.00% 0.00%
EBIT Q/Q Growth
0.00% 0.00% 0.00%
NOPAT Q/Q Growth
0.00% 0.00% 0.00%
Net Income Q/Q Growth
0.00% 0.00% 0.00%
EPS Q/Q Growth
0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth
0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00%
Invested Capital Q/Q Growth
0.00% 0.00% -1.08%
Profitability Metrics
- - -
Gross Margin
74.27% 64.52% 69.43%
EBITDA Margin
50.20% 39.21% 40.25%
Operating Margin
32.19% 21.81% 19.61%
EBIT Margin
31.82% 21.29% 19.71%
Profit (Net Income) Margin
23.87% 14.99% 17.33%
Tax Burden Percent
99.35% 98.56% 100.64%
Interest Burden Percent
75.52% 71.43% 87.35%
Effective Tax Rate
0.65% 1.44% -0.64%
Return on Invested Capital (ROIC)
0.00% 15.31% 9.88%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 4.83% 5.51%
Return on Net Nonoperating Assets (RNNOA)
0.00% 3.82% 2.10%
Return on Equity (ROE)
0.00% 19.13% 11.98%
Cash Return on Invested Capital (CROIC)
0.00% -184.69% 7.99%
Operating Return on Assets (OROA)
0.00% 7.17% 9.26%
Return on Assets (ROA)
0.00% 5.05% 8.14%
Return on Common Equity (ROCE)
0.00% 19.13% 5.82%
Return on Equity Simple (ROE_SIMPLE)
0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)
78 115 150
NOPAT Margin
31.98% 21.50% 19.74%
Net Nonoperating Expense Percent (NNEP)
0.00% 10.48% 4.37%
Return On Investment Capital (ROIC_SIMPLE)
- 7.63% 36.82%
Cost of Revenue to Revenue
25.73% 35.48% 30.57%
SG&A Expenses to Revenue
6.25% 11.67% 15.61%
R&D to Revenue
0.00% 0.00% 0.00%
Operating Expenses to Revenue
42.08% 42.71% 49.82%
Earnings before Interest and Taxes (EBIT)
77 114 150
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
122 210 306
Valuation Ratios
- - -
Price to Book Value (P/BV)
0.00 0.51 7.41
Price to Tangible Book Value (P/TBV)
0.00 1.49 0.00
Price to Revenue (P/Rev)
1.76 0.80 2.23
Price to Earnings (P/E)
0.00 0.00 40.89
Dividend Yield
0.00% 0.00% 1.29%
Earnings Yield
0.00% 0.00% 2.45%
Enterprise Value to Invested Capital (EV/IC)
0.00 0.73 1.96
Enterprise Value to Revenue (EV/Rev)
0.00 2.04 3.94
Enterprise Value to EBITDA (EV/EBITDA)
0.00 5.20 9.80
Enterprise Value to EBIT (EV/EBIT)
0.00 9.58 20.01
Enterprise Value to NOPAT (EV/NOPAT)
0.00 9.49 19.98
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 6.08 10.18
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 24.72
Leverage & Solvency
- - -
Debt to Equity
0.00 0.80 0.13
Long-Term Debt to Equity
0.00 0.79 0.13
Financial Leverage
0.00 0.79 0.38
Leverage Ratio
0.00 1.89 1.47
Compound Leverage Factor
0.00 1.35 1.29
Debt to Total Capital
0.00% 44.35% 11.63%
Short-Term Debt to Total Capital
0.00% 0.45% 0.00%
Long-Term Debt to Total Capital
0.00% 43.90% 11.63%
Preferred Equity to Total Capital
0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 73.49%
Common Equity to Total Capital
0.00% 55.65% 14.88%
Debt to EBITDA
0.00 3.19 0.58
Net Debt to EBITDA
0.00 3.16 0.57
Long-Term Debt to EBITDA
0.00 3.15 0.58
Debt to NOPAT
0.00 5.81 1.19
Net Debt to NOPAT
0.00 5.77 1.16
Long-Term Debt to NOPAT
0.00 5.75 1.19
Altman Z-Score
0.00 1.07 4.55
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 51.40%
Liquidity Ratios
- - -
Current Ratio
0.00 3.26 3.34
Quick Ratio
0.00 1.42 1.35
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
0.00 -1,388 121
Operating Cash Flow to CapEx
191.84% 184.31% 148.20%
Free Cash Flow to Firm to Interest Expense
0.00 -42.63 6.40
Operating Cash Flow to Interest Expense
4.32 5.51 15.54
Operating Cash Flow Less CapEx to Interest Expense
2.07 2.52 5.06
Efficiency Ratios
- - -
Asset Turnover
0.00 0.34 0.47
Accounts Receivable Turnover
0.00 4.45 6.88
Inventory Turnover
0.00 1.26 1.54
Fixed Asset Turnover
0.00 0.76 1.01
Accounts Payable Turnover
0.00 6.06 8.58
Days Sales Outstanding (DSO)
0.00 82.07 53.05
Days Inventory Outstanding (DIO)
0.00 290.53 236.38
Days Payable Outstanding (DPO)
0.00 60.19 42.56
Cash Conversion Cycle (CCC)
0.00 312.41 246.87
Capital & Investment Metrics
- - -
Invested Capital
0.00 1,503 1,532
Invested Capital Turnover
0.00 0.71 0.50
Increase / (Decrease) in Invested Capital
0.00 1,503 29
Enterprise Value (EV)
0.00 1,091 2,996
Market Capitalization
427 427 1,693
Book Value per Share
$0.00 $47.14 $2.55
Tangible Book Value per Share
$0.00 $16.12 ($3.28)
Total Capital
0.00 1,508 1,537
Total Debt
0.00 669 179
Total Long-Term Debt
0.00 662 179
Net Debt
0.00 664 174
Capital Expenditures (CapEx)
43 97 199
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 201 178
Debt-free Net Working Capital (DFNWC)
0.00 205 182
Net Working Capital (NWC)
0.00 198 182
Net Nonoperating Expense (NNE)
20 35 18
Net Nonoperating Obligations (NNO)
0.00 664 174
Total Depreciation and Amortization (D&A)
45 96 156
Debt-free, Cash-free Net Working Capital to Revenue
0.00% 37.46% 23.38%
Debt-free Net Working Capital to Revenue
0.00% 38.32% 23.98%
Net Working Capital to Revenue
0.00% 37.05% 23.98%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
$0.00 $0.00 $1.53
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 26.98M
Adjusted Diluted Earnings per Share
$0.00 $0.00 $1.24
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 90.67M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 89.66M
Normalized Net Operating Profit after Tax (NOPAT)
79 116 105
Normalized NOPAT Margin
32.46% 21.64% 13.80%
Pre Tax Income Margin
24.03% 15.21% 17.22%
Debt Service Ratios
- - -
EBIT to Interest Expense
4.08 3.50 7.91
NOPAT to Interest Expense
4.11 3.53 7.92
EBIT Less CapEx to Interest Expense
1.83 0.51 -2.58
NOPAT Less CapEx to Interest Expense
1.85 0.54 -2.57
Payout Ratios
- - -
Dividend Payout Ratio
90.38% 287.25% 26.80%
Augmented Payout Ratio
90.38% 287.25% 40.06%

Quarterly Metrics And Ratios for Flowco

This table displays calculated financial ratios and metrics derived from Flowco's official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding
- - - - - - - - 89,662,755.00 90,345,416.00
DEI Adjusted Shares Outstanding
- - - - - - - - 89,662,755.00 90,345,416.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - 0.08 0.14
Growth Metrics
- - - - - - - - - -
Revenue Growth
0.00% 0.00% 0.00% 0.00% 188.33% 107.29% -6.56% 6.03% 8.93% 22.07%
EBITDA Growth
0.00% 0.00% 0.00% 0.00% 109.77% 81.01% 16.82% 21.02% 12.08% 28.05%
EBIT Growth
0.00% 0.00% 0.00% 0.00% 58.45% 46.26% 5.13% 27.96% 2.21% 9.32%
NOPAT Growth
0.00% 0.00% 0.00% 0.00% 45.88% 18.34% 14.57% 43.60% -1.64% 10.24%
Net Income Growth
0.00% 0.00% 0.00% 0.00% 57.38% 36.20% 66.00% 92.45% 1.51% 13.13%
EPS Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -4.17% 33.33%
Operating Cash Flow Growth
0.00% 0.00% 0.00% 0.00% 50.71% 274.59% 23.02% 40.21% 84.98% 15.89%
Free Cash Flow Firm Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 90.65% 89.78%
Invested Capital Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.91% 11.27% 12.41%
Revenue Q/Q Growth
0.00% 39.72% 103.16% -1.78% 0.00% 0.45% -8.42% 11.46% 6.25% 12.57%
EBITDA Q/Q Growth
0.00% 18.44% 62.54% 6.10% 0.00% 2.20% 4.91% 9.91% -4.89% 16.77%
EBIT Q/Q Growth
0.00% 16.43% 28.58% -0.45% 0.00% 7.47% -7.58% 21.17% -15.08% 14.95%
NOPAT Q/Q Growth
0.00% 24.54% 17.49% 2.94% 0.00% 1.03% 13.75% 29.02% -33.66% 13.23%
Net Income Q/Q Growth
0.00% 16.86% 2.81% 8.19% 0.00% 1.14% 25.30% 25.42% -36.13% 12.71%
EPS Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 52.38% 121.88% -67.61% 21.74%
Operating Cash Flow Q/Q Growth
0.00% -22.30% 205.57% -7.25% 0.00% 93.14% 0.35% 5.71% -9.71% 20.99%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% 0.78% -4.10% 101.25% -821.59% -8.44%
Invested Capital Q/Q Growth
0.00% 0.00% 0.00% 0.00% 0.00% -0.74% 4.32% -1.08% 8.63% 0.28%
Profitability Metrics
- - - - - - - - - -
Gross Margin
74.62% 66.09% 60.11% 64.59% 65.91% 67.61% 74.63% 69.99% 70.22% 68.54%
EBITDA Margin
51.14% 43.35% 34.68% 37.47% 37.21% 37.85% 43.36% 42.76% 38.28% 39.71%
Operating Margin
33.32% 29.72% 17.37% 18.24% 18.37% 19.21% 19.55% 21.28% 17.32% 17.48%
EBIT Margin
33.16% 27.64% 17.49% 17.73% 18.23% 19.50% 19.68% 21.40% 17.10% 17.46%
Profit (Net Income) Margin
25.76% 21.55% 10.90% 12.01% 14.06% 14.16% 19.37% 21.80% 13.10% 13.12%
Tax Burden Percent
99.23% 99.15% 98.12% 97.94% 91.08% 87.58% 106.89% 113.65% 87.20% 86.94%
Interest Burden Percent
78.27% 78.63% 63.52% 69.16% 84.70% 82.89% 92.08% 89.64% 87.87% 86.41%
Effective Tax Rate
0.77% 0.85% 1.88% 2.06% 8.92% 12.42% -6.89% -13.65% 12.80% 13.06%
Return on Invested Capital (ROIC)
0.00% 0.00% 0.00% 6.36% 0.00% 0.00% 0.00% 12.11% 7.43% 7.90%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 0.00% 0.00% 4.72% 0.00% 0.00% 0.00% 10.98% 5.78% 5.86%
Return on Net Nonoperating Assets (RNNOA)
0.00% 0.00% 0.00% 3.74% 0.00% 0.00% 0.00% 4.19% 1.12% 1.05%
Return on Equity (ROE)
0.00% 0.00% 0.00% 10.10% 0.00% 0.00% 0.00% 16.30% 8.54% 8.95%
Cash Return on Invested Capital (CROIC)
0.00% 0.00% 0.00% -92.35% 0.00% 0.00% 0.00% 7.99% -1.21% -2.01%
Operating Return on Assets (OROA)
0.00% 0.00% 0.00% 5.97% 0.00% 0.00% 0.00% 10.05% 7.58% 8.11%
Return on Assets (ROA)
0.00% 0.00% 0.00% 4.05% 0.00% 0.00% 0.00% 10.24% 5.81% 6.09%
Return on Common Equity (ROCE)
0.00% 0.00% 0.00% 10.10% 0.00% 0.00% 0.00% 7.92% -0.11% 1.72%
Return on Equity Simple (ROE_SIMPLE)
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)
22 27 32 33 32 33 37 48 32 36
NOPAT Margin
33.06% 29.47% 17.04% 17.86% 16.73% 16.82% 20.90% 24.19% 15.10% 15.19%
Net Nonoperating Expense Percent (NNEP)
0.00% 0.00% 0.00% 1.64% 5.39% 6.07% 2.38% 1.13% 1.64% 2.04%
Return On Investment Capital (ROIC_SIMPLE)
- - - 2.20% -17.96% 9.87% 6.10% 11.71% 4.70% 5.16%
Cost of Revenue to Revenue
25.38% 33.91% 39.89% 35.41% 34.09% 32.39% 25.37% 30.01% 29.78% 31.46%
SG&A Expenses to Revenue
6.71% 7.21% 13.21% 14.11% 15.87% 16.92% 16.38% 13.38% 17.41% 15.12%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
41.30% 36.37% 42.74% 46.36% 47.55% 48.40% 55.08% 48.71% 52.90% 51.06%
Earnings before Interest and Taxes (EBIT)
22 26 33 33 35 38 35 42 36 41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
34 40 66 70 72 73 77 84 80 94
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
0.00 0.00 0.00 0.51 0.00 3.10 3.63 7.41 2.00 2.57
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 1.49 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
0.00 0.00 0.00 0.80 0.00 0.00 0.00 2.23 0.87 1.15
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 40.89 15.80 18.88
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.45% 1.08% 1.29% 1.55% 1.55%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.45% 6.33% 5.30%
Enterprise Value to Invested Capital (EV/IC)
0.00 0.00 0.00 0.73 0.00 1.21 1.63 1.96 1.20 1.34
Enterprise Value to Revenue (EV/Rev)
0.00 0.00 0.00 2.04 0.00 0.00 0.00 3.94 2.58 2.74
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 5.20 0.00 0.00 0.00 9.80 6.37 6.69
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 9.58 0.00 0.00 0.00 20.01 13.30 14.56
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 9.49 0.00 0.00 0.00 19.98 13.40 14.69
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 6.08 0.00 0.00 0.00 10.18 6.06 6.53
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 24.72 0.00 0.00
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.00 0.00 0.00 0.80 0.15 0.14 0.18 0.13 0.25 0.24
Long-Term Debt to Equity
0.00 0.00 0.00 0.79 0.15 0.14 0.18 0.13 0.25 0.24
Financial Leverage
0.00 0.00 0.00 0.79 0.15 0.13 0.17 0.38 0.19 0.18
Leverage Ratio
0.00 0.00 0.00 1.89 1.23 1.22 1.28 1.47 1.32 1.32
Compound Leverage Factor
0.00 0.00 0.00 1.31 1.04 1.01 1.18 1.32 1.16 1.14
Debt to Total Capital
0.00% 0.00% 0.00% 44.35% 12.76% 11.98% 15.09% 11.63% 20.09% 19.49%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.51%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 43.90% 12.76% 11.98% 15.09% 11.63% 20.09% 18.99%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 111.97% 77.95% 61.07% 73.49% 59.92% 58.88%
Common Equity to Total Capital
0.00% 0.00% 0.00% 55.65% -24.73% 10.06% 23.84% 14.88% 19.99% 21.63%
Debt to EBITDA
0.00 0.00 0.00 3.19 0.00 0.00 0.00 0.58 1.07 0.98
Net Debt to EBITDA
0.00 0.00 0.00 3.16 0.00 0.00 0.00 0.57 1.02 0.93
Long-Term Debt to EBITDA
0.00 0.00 0.00 3.15 0.00 0.00 0.00 0.58 1.07 0.96
Debt to NOPAT
0.00 0.00 0.00 5.81 0.00 0.00 0.00 1.19 2.26 2.16
Net Debt to NOPAT
0.00 0.00 0.00 5.77 0.00 0.00 0.00 1.16 2.15 2.03
Long-Term Debt to NOPAT
0.00 0.00 0.00 5.75 0.00 0.00 0.00 1.19 2.26 2.10
Altman Z-Score
0.00 0.00 0.00 0.90 0.00 1.31 2.68 4.34 1.35 1.66
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 128.35% 88.57% 71.92% 51.40% 101.28% 80.72%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
0.00 0.00 0.00 3.26 3.45 3.25 2.90 3.34 3.09 2.67
Quick Ratio
0.00 0.00 0.00 1.42 1.57 1.47 1.25 1.35 1.42 1.19
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
0.00 0.00 0.00 0.00 -1,464 -1,452 -1,512 19 -137 -148
Operating Cash Flow to CapEx
191.48% 172.66% 194.45% 175.63% 153.92% 230.15% 74.09% 363.67% 298.35% 209.89%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 -272.82 -225.33 -548.37 4.34 -31.48 -26.52
Operating Cash Flow to Interest Expense
5.87 3.98 5.55 6.11 7.93 12.75 29.91 19.94 18.10 17.01
Operating Cash Flow Less CapEx to Interest Expense
2.81 1.68 2.70 2.63 2.78 7.21 -10.46 14.46 12.03 8.91
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.00 0.00 0.00 0.34 0.00 0.00 0.00 0.47 0.44 0.46
Accounts Receivable Turnover
0.00 0.00 0.00 4.45 0.00 0.00 0.00 6.88 5.54 6.11
Inventory Turnover
0.00 0.00 0.00 1.26 0.00 0.00 0.00 1.54 1.34 1.43
Fixed Asset Turnover
0.00 0.00 0.00 0.76 0.00 0.00 0.00 1.01 1.00 1.04
Accounts Payable Turnover
0.00 0.00 0.00 6.06 0.00 0.00 0.00 8.58 5.95 6.12
Days Sales Outstanding (DSO)
0.00 0.00 0.00 82.07 0.00 0.00 0.00 53.05 65.86 59.73
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 290.53 0.00 0.00 0.00 236.38 273.24 255.68
Days Payable Outstanding (DPO)
0.00 0.00 0.00 60.19 0.00 0.00 0.00 42.56 61.31 59.62
Cash Conversion Cycle (CCC)
0.00 0.00 0.00 312.41 0.00 0.00 0.00 246.87 277.79 255.79
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
0.00 0.00 0.00 1,503 1,496 1,485 1,549 1,532 1,664 1,669
Invested Capital Turnover
0.00 0.00 0.00 0.36 0.00 0.00 0.00 0.50 0.49 0.52
Increase / (Decrease) in Invested Capital
0.00 0.00 0.00 0.00 1,496 1,485 1,549 29 169 184
Enterprise Value (EV)
0.00 0.00 0.00 1,091 0.00 1,801 2,524 2,996 2,002 2,242
Market Capitalization
427 427 427 427 0.00 467 1,346 1,693 674 938
Book Value per Share
$0.00 $0.00 $0.00 $47.14 ($4.09) $1.66 $4.10 $2.55 $3.75 $4.04
Tangible Book Value per Share
$0.00 $0.00 $0.00 $16.12 ($10.10) ($4.27) ($1.77) ($3.28) ($3.18) ($2.73)
Total Capital
0.00 0.00 0.00 1,508 1,497 1,494 1,556 1,537 1,682 1,688
Total Debt
0.00 0.00 0.00 669 191 179 235 179 338 329
Total Long-Term Debt
0.00 0.00 0.00 662 191 179 235 179 338 321
Net Debt
0.00 0.00 0.00 664 190 170 228 174 321 310
Capital Expenditures (CapEx)
15 13 34 35 28 36 111 24 26 45
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 0.00 0.00 201 210 193 185 178 223 221
Debt-free Net Working Capital (DFNWC)
0.00 0.00 0.00 205 211 202 192 182 241 240
Net Working Capital (NWC)
0.00 0.00 0.00 198 211 202 192 182 241 232
Net Nonoperating Expense (NNE)
4.87 7.39 12 11 5.13 5.15 2.70 4.72 4.19 4.89
Net Nonoperating Obligations (NNO)
0.00 0.00 0.00 664 190 170 228 174 321 310
Total Depreciation and Amortization (D&A)
12 15 33 37 37 35 42 42 44 52
Debt-free, Cash-free Net Working Capital to Revenue
0.00% 0.00% 0.00% 37.46% 0.00% 0.00% 0.00% 23.38% 28.74% 27.00%
Debt-free Net Working Capital to Revenue
0.00% 0.00% 0.00% 38.32% 0.00% 0.00% 0.00% 23.98% 30.98% 29.34%
Net Working Capital to Revenue
0.00% 0.00% 0.00% 37.05% 0.00% 0.00% 0.00% 23.98% 30.98% 28.30%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.21 $0.46 $0.86 $0.24 $0.29
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 0.00 0.00 0.00 25.73M 27.45M 26.98M 31.62M 42.86M
Adjusted Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.21 $0.32 $0.71 $0.23 $0.28
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 0.00 0.00 0.00 26.20M 90.66M 90.67M 32.72M 43.97M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 0.00 0.00 90.55M 90.56M 89.65M 89.66M 90.35M 90.35M
Normalized Net Operating Profit after Tax (NOPAT)
22 28 32 33 32 33 24 30 32 36
Normalized NOPAT Margin
33.64% 29.75% 17.08% 17.90% 16.71% 16.86% 13.78% 15.07% 15.23% 15.26%
Pre Tax Income Margin
25.96% 21.73% 11.11% 12.26% 15.44% 16.16% 18.12% 19.18% 15.03% 15.09%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
4.60 4.68 2.74 3.24 6.53 5.85 12.63 9.65 8.24 7.36
NOPAT to Interest Expense
4.59 4.99 2.67 3.27 6.00 5.04 13.41 10.91 7.28 6.40
EBIT Less CapEx to Interest Expense
1.54 2.37 -0.11 -0.24 1.38 0.31 -27.74 4.17 2.17 -0.75
NOPAT Less CapEx to Interest Expense
1.52 2.68 -0.18 -0.21 0.84 -0.50 -26.96 5.43 1.21 -1.70
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 287.25% 0.00% 0.00% 0.00% 26.80% 39.75% 33.62%
Augmented Payout Ratio
0.00% 0.00% 0.00% 287.25% 0.00% 0.00% 0.00% 40.06% 63.93% 56.85%

Financials Breakdown Chart

Key Financial Trends

Flowco’s latest results show strong growth, but also rising leverage and substantial capital intensity. Q2 2026 revenue increased to $235.9 million, up 22.1% from $193.2 million in the restated Q2 2025 period and 26.3% from Q1 2026. Revenue has expanded significantly from $93.2 million in Q2 2024. Gross profit reached $161.7 million, with the gross margin improving to approximately 68.5% from 67.7% in Q2 2025 and 66.1% in Q2 2024.

Operating income also continued to grow, rising to $41.2 million from $37.1 million in Q2 2025 and $27.7 million in Q2 2024. However, operating expenses increased faster than revenue over the longer period, causing the operating margin to decline from approximately 29.7% in Q2 2024 to 17.5% in Q2 2026. Depreciation expense alone rose to $49.4 million in the latest quarter, reflecting Flowco’s expanding asset base.

Consolidated net income was $30.9 million in Q2 2026, compared with $27.4 million in Q1 2026 and $27.4 million in Q2 2025. After $18.4 million attributable to noncontrolling interests, net income available to common shareholders was $12.5 million, or $0.28 per diluted share. Diluted EPS improved from $0.21 in Q2 2025, although the weighted average diluted share count increased substantially from 26.2 million to 43.9 million shares.

Cash generation remains a key strength. Operating cash flow increased to $95.2 million in Q2 2026, up from $82.2 million in Q2 2025 and $21.9 million in Q2 2024. Capital expenditures also increased to $45.5 million, leaving estimated free cash flow of approximately $49.6 million. Flowco produced positive estimated free cash flow in each of the last three comparable second quarters, although the growing capital requirements should be monitored.

The balance sheet presents a more mixed picture. Cash and equivalents rose modestly to $19.2 million from $17.3 million in Q1 2026, while total current assets reached $370.7 million. The company reported $138.8 million of current liabilities, implying a current ratio of approximately 2.7. Nevertheless, total debt, including short-term debt, long-term debt and capital lease obligations, was approximately $329.5 million at June 30, 2026. This remains elevated relative to the company’s cash balance.

  • Revenue growth remains robust: Q2 2026 revenue increased 22.1% year over year and has more than doubled compared with Q2 2024.
  • Gross margins are improving: The Q2 gross margin rose to approximately 68.5%, suggesting favorable pricing, mix or cost performance.
  • Operating cash flow is strengthening: Quarterly operating cash flow reached $95.2 million, more than four times the Q2 2024 level.
  • Positive free cash flow: Estimated Q2 free cash flow was approximately $49.6 million after $45.5 million of capital expenditures.
  • Common shareholder earnings improved sequentially: Net income attributable to common shareholders increased from $7.4 million in Q1 2026 to $12.5 million in Q2, while diluted EPS rose from $0.23 to $0.28.
  • Capital investment is expanding: Net property, plant and equipment increased to $863.0 million from $717.7 million in Q2 2025, potentially supporting future growth but requiring continued spending.
  • Working capital trends are mixed: Accounts receivable declined slightly from Q1 2026, while inventory remained elevated at $186.3 million.
  • Operating margins have contracted: Despite higher revenue and gross profit, the operating margin fell to approximately 17.5% in Q2 2026 from 29.7% in Q2 2024.
  • Leverage remains significant: Debt and lease obligations totaled roughly $329.5 million, compared with only $19.2 million of cash and equivalents.
  • Noncontrolling interests reduce common shareholders’ participation: More than half of Q2 consolidated net income was attributable to noncontrolling interests, limiting the portion available to Flowco’s common shareholders. The increase in diluted shares also warrants attention.

Overall, Flowco is demonstrating strong top-line growth and improving cash generation, but investors should weigh those benefits against declining operating margins, high capital spending, rising debt and the large share of earnings allocated to noncontrolling interests. The Q2 2025 income statement was restated, and older periods contain limited or unavailable per-share data, so comparisons should be interpreted with some caution.

09/01/26 10:23 AM ETAI Generated. May Contain Errors.

Flowco Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Flowco's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Flowco's net income appears to be on an upward trend, with a most recent value of $131.66 million in 2025, rising from $58.09 million in 2023. The previous period was $80.25 million in 2024. See where experts think Flowco is headed by visiting Flowco's forecast page.

Flowco's total operating income in 2025 was $149.01 million, based on the following breakdown:
  • Total Gross Profit: $527.51 million
  • Total Operating Expenses: $378.50 million

Over the last 2 years, Flowco's total revenue changed from $243.32 million in 2023 to $759.72 million in 2025, a change of 212.2%.

Flowco's total liabilities were at $288.43 million at the end of 2025, a 61.5% decrease from 2024, and a 61.5% decrease since 2024.

In the past 1 years, Flowco's cash and equivalents has ranged from $4.52 million in 2025 to $4.62 million in 2024, and is currently $4.52 million as of their latest financial filing in 2025.

Over the last 2 years, Flowco's book value per share changed from 0.00 in 2023 to 2.55 in 2025, a change of 255.0%.



Financial statements for NYSE:FLOC last updated on 8/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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