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Flowco (FLOC) Financials

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$24.21 +0.49 (+2.07%)
As of 01:13 PM 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
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
Net Income / (Loss) Attributable to Common Shareholders		 0.00 0.00 0.00 - 6.17 5.47 13 17 7.44
Consolidated Net Income / (Loss)		 17 20 21 22 27 27 34 43 27
Net Income / (Loss) Continuing Operations		 17 20 21 22 27 27 34 43 27
Total Pre-Tax Income 		17 20 21 23 30 31 32 38 31
Total Operating Income		 22 28 33 34 35 37 35 42 36
Total Gross Profit		 50 62 114 120 127 131 132 138 147
Total Revenue		 67 93 189 186 192 193 177 197 210
Operating Revenue		 67 93 189 186 192 193 177 197 210
Total Cost of Revenue		 17 32 76 66 66 63 45 59 62
Operating Cost of Revenue		 17 32 76 66 66 63 45 59 62
Total Operating Expenses		 28 34 81 86 91 94 97 96 111
Selling, General & Admin Expense		 4.48 6.72 25 26 31 33 29 26 36
Depreciation Expense		 12 14 31 34 34 33 39 39 41
Other Operating Expenses / (Income)		 11 13 25 26 27 28 29 31 33
Other Special Charges / (Income)		 0.39 0.27 0.07 0.07 -0.05 0.07 0.23 0.49 0.31
Total Other Income / (Expense), net		 -4.91 -7.45 -12 -11 -5.63 -5.89 -2.53 -4.15 -4.81
Interest Expense		 4.81 5.51 12 10 5.37 6.45 2.76 4.37 4.35
Other Income / (Expense), net		 -0.10 -1.94 0.23 -0.94 -0.27 0.56 0.23 0.22 -0.46
Income Tax Expense		 0.13 0.17 0.40 0.47 2.65 3.88 -2.21 -5.16 4.03
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 0.00 - 21 22 22 26 20
Basic Earnings per Share		 $0.00 $0.00 $0.00 - $0.24 $0.21 $0.46 $0.86 $0.24
Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 25.72M 25.73M 27.45M 26.98M 31.62M
Diluted Earnings per Share		 $0.00 $0.00 $0.00 - $0.24 $0.21 $0.32 $0.71 $0.23
Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 26.19M 26.20M 90.66M 90.67M 32.72M
Weighted Average Basic & Diluted Shares Outstanding		 - - - 0.00 90.55M 90.56M 89.65M 89.66M 90.35M
Cash Dividends to Common per Share		 - - - - - $0.08 $0.08 - $0.08

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
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
Net Change in Cash & Equivalents		 0.86 4.19 18 -19 -3.93 8.60 -2.05 -2.71 13
Net Cash From Operating Activities		 28 22 67 62 43 82 82 87 79
Net Cash From Continuing Operating Activities		 28 22 67 62 43 82 82 87 79
Net Income / (Loss) Continuing Operations		 17 20 21 22 27 27 34 43 27
Consolidated Net Income / (Loss)		 17 20 21 22 27 27 34 43 27
Depreciation Expense		 12 14 31 34 34 33 39 39 41
Amortization Expense		 0.28 0.44 1.97 2.35 2.39 2.30 2.95 3.54 2.88
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
Changes in Operating Assets and Liabilities, net		 -1.23 -14 16 -3.03 -25 14 12 -7.77 2.22
Net Cash From Investing Activities		 -15 -9.62 -35 -36 -28 -36 -112 -24 -188
Net Cash From Continuing Investing Activities		 -15 -9.62 -35 -36 -28 -36 -112 -24 -188
Purchase of Property, Plant & Equipment		 -15 -13 -35 -35 -28 -36 -111 -24 -26
Acquisitions		 - - - - 0.00 - - - -162
Sale of Property, Plant & Equipment		 0.03 - 0.13 0.01 0.21 0.06 0.16 0.03 0.00
Divestitures		 - - - - 0.00 - - - 0.00
Other Investing Activities, net		 0.00 - -0.06 -0.13 -0.02 -0.08 -0.34 -0.14 -0.13
Net Cash From Financing Activities		 -13 -8.13 -14 -45 -19 -38 28 -66 122
Net Cash From Continuing Financing Activities		 -13 -8.13 -14 -45 -19 -38 28 -66 122
Repayment of Debt		 0.00 -51 -118 -133 -580 -142 -200 -208 -309
Repurchase of Common Equity		 0.00 - - - -2.03 -0.42 -15 - -17
Payment of Dividends		 -17 -14 -100 -100 0.00 -21 -7.26 -7.17 -17
Issuance of Debt		 5.36 57 205 192 125 128 256 153 469
Issuance of Common Equity		 0.00 - - - 462 - - - 0.00
Other Financing Activities, net		 -0.99 -0.34 -1.17 -4.29 -24 -2.56 -5.64 -3.80 -4.06

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
Accounts Payable		 31 23
Accrued Expenses		 34 27
Current Deferred Revenue		 8.00 7.38
Other Current Liabilities		 7.84 21
Total Noncurrent Liabilities		 662 210
Long-Term Debt		 636 168
Capital Lease Obligations		 26 11
Noncurrent Deferred & Payable Income Tax Liabilities		 0.00 22
Other Noncurrent Operating Liabilities		 - 9.78
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 69
Retained Earnings		 0.00 159

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
Period end date 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,606 1,606 1,686 1,898
Total Current Assets		 297 292 293 356
Cash & Equivalents		 0.69 9.29 7.24 17
Accounts Receivable		 134 123 119 146
Inventories, net		 157 151 159 186
Prepaid Expenses		 5.00 9.37 7.67 6.25
Plant, Property, & Equipment, net		 707 718 801 854
Total Noncurrent Assets		 602 596 592 688
Noncurrent Note & Lease Receivables		 23 26 27 25
Goodwill		 250 250 250 305
Intangible Assets		 295 287 281 316
Noncurrent Deferred & Refundable Income Taxes		 10 10 12 20
Other Noncurrent Operating Assets		 24 23 22 22
Total Liabilities & Shareholders' Equity		 1,606 1,606 1,686 1,898
Total Liabilities		 300 291 365 554
Total Current Liabilities		 86 90 101 115
Accounts Payable		 32 33 32 45
Accrued Expenses		 27 30 36 32
Current Deferred Revenue		 7.58 5.92 13 17
Other Current Liabilities		 20 20 20 21
Total Noncurrent Liabilities		 214 201 264 439
Long-Term Debt		 181 167 223 328
Capital Lease Obligations		 9.93 12 12 9.85
Noncurrent Deferred & Payable Income Tax Liabilities		 12 12 20 92
Other Noncurrent Operating Liabilities		 11 9.62 9.45 8.73
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 1,676 1,165 950 1,008
Total Equity & Noncontrolling Interests		 -370 150 371 336
Total Preferred & Common Equity		 -370 150 371 336
Total Common Equity		 -370 150 371 336
Common Stock		 0.01 18 56 336
Retained Earnings		 -370 132 315 0.00

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
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
DEI Shares Outstanding		 - - - - - - - - 89,662,755.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 89,662,755.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.08
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 188.33% 107.29% -6.56% 6.03% 8.93%
EBITDA Growth		 0.00% 0.00% 0.00% 0.00% 109.77% 81.01% 16.82% 21.02% 12.08%
EBIT Growth		 0.00% 0.00% 0.00% 0.00% 58.45% 46.26% 5.13% 27.96% 2.21%
NOPAT Growth		 0.00% 0.00% 0.00% 0.00% 45.88% 18.34% 14.57% 43.60% -1.64%
Net Income Growth		 0.00% 0.00% 0.00% 0.00% 57.38% 36.20% 66.00% 92.45% 1.51%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -4.17%
Operating Cash Flow Growth		 0.00% 0.00% 0.00% 0.00% 50.71% 274.59% 23.02% 40.21% 84.98%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 90.65%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.91% 11.27%
Revenue Q/Q Growth		 0.00% 39.72% 103.16% -1.78% 0.00% 0.45% -8.42% 11.46% 6.25%
EBITDA Q/Q Growth		 0.00% 18.44% 62.54% 6.10% 0.00% 2.20% 4.91% 9.91% -4.89%
EBIT Q/Q Growth		 0.00% 16.43% 28.58% -0.45% 0.00% 7.47% -7.58% 21.17% -15.08%
NOPAT Q/Q Growth		 0.00% 24.54% 17.49% 2.94% 0.00% 1.03% 13.75% 29.02% -33.66%
Net Income Q/Q Growth		 0.00% 16.86% 2.81% 8.19% 0.00% 1.14% 25.30% 25.42% -36.13%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 52.38% 121.88% -67.61%
Operating Cash Flow Q/Q Growth		 0.00% -22.30% 205.57% -7.25% 0.00% 93.14% 0.35% 5.71% -9.71%
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%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -0.74% 4.32% -1.08% 8.63%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 74.62% 66.09% 60.11% 64.59% 65.91% 67.61% 74.63% 69.99% 70.22%
EBITDA Margin		 51.14% 43.35% 34.68% 37.47% 37.21% 37.85% 43.36% 42.76% 38.28%
Operating Margin		 33.32% 29.72% 17.37% 18.24% 18.37% 19.21% 19.55% 21.28% 17.32%
EBIT Margin		 33.16% 27.64% 17.49% 17.73% 18.23% 19.50% 19.68% 21.40% 17.10%
Profit (Net Income) Margin		 25.76% 21.55% 10.90% 12.01% 14.06% 14.16% 19.37% 21.80% 13.10%
Tax Burden Percent		 99.23% 99.15% 98.12% 97.94% 91.08% 87.58% 106.89% 113.65% 87.20%
Interest Burden Percent		 78.27% 78.63% 63.52% 69.16% 84.70% 82.89% 92.08% 89.64% 87.87%
Effective Tax Rate		 0.77% 0.85% 1.88% 2.06% 8.92% 12.42% -6.89% -13.65% 12.80%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 6.36% 0.00% 0.00% 0.00% 12.11% 7.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 4.72% 0.00% 0.00% 0.00% 10.98% 5.78%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 3.74% 0.00% 0.00% 0.00% 4.19% 1.12%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 10.10% 0.00% 0.00% 0.00% 16.30% 8.54%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -92.35% 0.00% 0.00% 0.00% 7.99% -1.21%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 5.97% 0.00% 0.00% 0.00% 10.05% 7.58%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 4.05% 0.00% 0.00% 0.00% 10.24% 5.81%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 10.10% 0.00% 0.00% 0.00% 7.92% -0.11%
Return on Equity Simple (ROE_SIMPLE)		 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
NOPAT Margin		 33.06% 29.47% 17.04% 17.86% 16.73% 16.82% 20.90% 24.19% 15.10%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 1.64% 5.39% 6.07% 2.38% 1.13% 1.64%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 2.20% -17.96% 9.87% 6.10% 11.71% 4.70%
Cost of Revenue to Revenue		 25.38% 33.91% 39.89% 35.41% 34.09% 32.39% 25.37% 30.01% 29.78%
SG&A Expenses to Revenue		 6.71% 7.21% 13.21% 14.11% 15.87% 16.92% 16.38% 13.38% 17.41%
R&D to Revenue		 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%
Earnings before Interest and Taxes (EBIT)		 22 26 33 33 35 38 35 42 36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 34 40 66 70 72 73 77 84 80
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
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
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.80 0.00 0.00 0.00 2.23 0.87
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 40.89 15.80
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.45% 1.08% 1.29% 1.55%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.45% 6.33%
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
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 2.04 0.00 0.00 0.00 3.94 2.58
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 5.20 0.00 0.00 0.00 9.80 6.37
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 9.58 0.00 0.00 0.00 20.01 13.30
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 9.49 0.00 0.00 0.00 19.98 13.40
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
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
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.80 0.15 0.14 0.18 0.13 0.25
Long-Term Debt to Equity		 0.00 0.00 0.00 0.79 0.15 0.14 0.18 0.13 0.25
Financial Leverage		 0.00 0.00 0.00 0.79 0.15 0.13 0.17 0.38 0.19
Leverage Ratio		 0.00 0.00 0.00 1.89 1.23 1.22 1.28 1.47 1.32
Compound Leverage Factor		 0.00 0.00 0.00 1.31 1.04 1.01 1.18 1.32 1.16
Debt to Total Capital		 0.00% 0.00% 0.00% 44.35% 12.76% 11.98% 15.09% 11.63% 20.09%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.45% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 43.90% 12.76% 11.98% 15.09% 11.63% 20.09%
Preferred Equity to Total Capital		 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%
Common Equity to Total Capital		 0.00% 0.00% 0.00% 55.65% -24.73% 10.06% 23.84% 14.88% 19.99%
Debt to EBITDA		 0.00 0.00 0.00 3.19 0.00 0.00 0.00 0.58 1.07
Net Debt to EBITDA		 0.00 0.00 0.00 3.16 0.00 0.00 0.00 0.57 1.02
Long-Term Debt to EBITDA		 0.00 0.00 0.00 3.15 0.00 0.00 0.00 0.58 1.07
Debt to NOPAT		 0.00 0.00 0.00 5.81 0.00 0.00 0.00 1.19 2.26
Net Debt to NOPAT		 0.00 0.00 0.00 5.77 0.00 0.00 0.00 1.16 2.15
Long-Term Debt to NOPAT		 0.00 0.00 0.00 5.75 0.00 0.00 0.00 1.19 2.26
Altman Z-Score		 0.00 0.00 0.00 0.90 0.00 1.31 2.68 4.34 1.35
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 128.35% 88.57% 71.92% 51.40% 101.28%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.00 0.00 0.00 3.26 3.45 3.25 2.90 3.34 3.09
Quick Ratio		 0.00 0.00 0.00 1.42 1.57 1.47 1.25 1.35 1.42
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
Operating Cash Flow to CapEx		 191.48% 172.66% 194.45% 175.63% 153.92% 230.15% 74.09% 363.67% 298.35%
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
Operating Cash Flow to Interest Expense		 5.87 3.98 5.55 6.11 7.93 12.75 29.91 19.94 18.10
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
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.34 0.00 0.00 0.00 0.47 0.44
Accounts Receivable Turnover		 0.00 0.00 0.00 4.45 0.00 0.00 0.00 6.88 5.54
Inventory Turnover		 0.00 0.00 0.00 1.26 0.00 0.00 0.00 1.54 1.34
Fixed Asset Turnover		 0.00 0.00 0.00 0.76 0.00 0.00 0.00 1.01 1.00
Accounts Payable Turnover		 0.00 0.00 0.00 6.06 0.00 0.00 0.00 8.58 5.95
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 82.07 0.00 0.00 0.00 53.05 65.86
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 290.53 0.00 0.00 0.00 236.38 273.24
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 60.19 0.00 0.00 0.00 42.56 61.31
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 312.41 0.00 0.00 0.00 246.87 277.79
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 0.00 0.00 1,503 1,496 1,485 1,549 1,532 1,664
Invested Capital Turnover		 0.00 0.00 0.00 0.36 0.00 0.00 0.00 0.50 0.49
Increase / (Decrease) in Invested Capital		 0.00 0.00 0.00 0.00 1,496 1,485 1,549 29 169
Enterprise Value (EV)		 0.00 0.00 0.00 1,091 0.00 1,801 2,524 2,996 2,002
Market Capitalization		 427 427 427 427 0.00 467 1,346 1,693 674
Book Value per Share		 $0.00 $0.00 $0.00 $47.14 ($4.09) $1.66 $4.10 $2.55 $3.75
Tangible Book Value per Share		 $0.00 $0.00 $0.00 $16.12 ($10.10) ($4.27) ($1.77) ($3.28) ($3.18)
Total Capital		 0.00 0.00 0.00 1,508 1,497 1,494 1,556 1,537 1,682
Total Debt		 0.00 0.00 0.00 669 191 179 235 179 338
Total Long-Term Debt		 0.00 0.00 0.00 662 191 179 235 179 338
Net Debt		 0.00 0.00 0.00 664 190 170 228 174 321
Capital Expenditures (CapEx)		 15 13 34 35 28 36 111 24 26
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 0.00 0.00 201 210 193 185 178 223
Debt-free Net Working Capital (DFNWC)		 0.00 0.00 0.00 205 211 202 192 182 241
Net Working Capital (NWC)		 0.00 0.00 0.00 198 211 202 192 182 241
Net Nonoperating Expense (NNE)		 4.87 7.39 12 11 5.13 5.15 2.70 4.72 4.19
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 664 190 170 228 174 321
Total Depreciation and Amortization (D&A)		 12 15 33 37 37 35 42 42 44
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%
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%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 37.05% 0.00% 0.00% 0.00% 23.98% 30.98%
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
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 25.73M 27.45M 26.98M 31.62M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.21 $0.32 $0.71 $0.23
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 26.20M 90.66M 90.67M 32.72M
Adjusted Basic & Diluted Earnings per Share		 $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
Normalized Net Operating Profit after Tax (NOPAT)		 22 28 32 33 32 33 24 30 32
Normalized NOPAT Margin		 33.64% 29.75% 17.08% 17.90% 16.71% 16.86% 13.78% 15.07% 15.23%
Pre Tax Income Margin		 25.96% 21.73% 11.11% 12.26% 15.44% 16.16% 18.12% 19.18% 15.03%
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
NOPAT to Interest Expense		 4.59 4.99 2.67 3.27 6.00 5.04 13.41 10.91 7.28
EBIT Less CapEx to Interest Expense		 1.54 2.37 -0.11 -0.24 1.38 0.31 -27.74 4.17 2.17
NOPAT Less CapEx to Interest Expense		 1.52 2.68 -0.18 -0.21 0.84 -0.50 -26.96 5.43 1.21
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 287.25% 0.00% 0.00% 0.00% 26.80% 39.75%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 287.25% 0.00% 0.00% 0.00% 40.06% 63.93%

Financials Breakdown Chart

Key Financial Trends

Flowco Holdings Inc. (NYSE:FLOC) has shown strong top-line growth, but the quarter-to-quarter story is mixed once you look below the headline numbers. Revenue and operating income improved versus the prior year period, cash from operations remained healthy, and the company continued to generate positive earnings. At the same time, Flowco is carrying meaningful leverage, cash is still modest relative to liabilities, and the balance sheet includes a very large redeemable noncontrolling interest that investors should not ignore.

Quarter-over-quarter trends were generally positive on operations:

  • Q1 2026 revenue rose to $209.5 million from $197.2 million in Q4 2025 and $192.4 million in Q1 2025.
  • Gross profit increased to $147.1 million, supporting an improving revenue mix and solid operating leverage.
  • Operating income climbed to $36.3 million in Q1 2026, up from $41.9 million in Q4 2025 but above $35.3 million in Q1 2025.
  • Operating cash flow was strong at $78.7 million in Q1 2026, showing the business still converts earnings into cash.
  • The company reported $27.5 million of net income in Q1 2026, or $0.24 EPS on a basic basis.
  • Compared with the first half of 2025, Flowco’s revenue and cash generation are materially higher, indicating continued expansion.

There are some signs of normalization and volatility in margins and cash flow:

  • Gross margin in Q1 2026 was about 70.2%, down slightly from roughly 70.0% in Q4 2025 and above the prior-year quarter’s 65.9%.
  • Interest expense remains a major drag, at $4.3 million in Q1 2026 and $4.4 million in Q4 2025, though it was higher in some 2025 quarters.
  • Noncontrolling interest continues to absorb a large portion of earnings; Q1 2026 net income attributable to common shareholders was only $7.4 million versus consolidated net income of $27.5 million.
  • Capital spending is still significant, with $26.4 million spent on property, plant and equipment in Q1 2026.
  • Cash ended Q1 2026 at $17.3 million, up from $7.2 million at Q3 2025 and $687,000 at Q1 2025, but still not especially large for a company of this size.

On the balance sheet, leverage and structure matter:

  • Total debt remains elevated, with $328.0 million of long-term debt at Q1 2026.
  • Total liabilities were $554.0 million versus only $336.2 million of common equity, leaving limited common equity cushion.
  • The company carries a very large redeemable noncontrolling interest of $1.01 billion, which materially complicates the capital structure.
  • Balance-sheet growth has been driven in part by acquisitions, which increased goodwill and intangible assets and adds integration risk.
  • Q1 2026 showed heavy financing activity, including $309.0 million of debt repayment and $469.1 million of debt issuance, suggesting active balance-sheet management but also dependence on capital markets.

Longer-term takeaway: Flowco looks like a company with strong operating momentum and respectable cash generation, but the quality of the equity story depends heavily on how management handles leverage, acquisition integration, and the redeemable noncontrolling interest structure. For retail investors, the business performance is improving, but the balance sheet remains the biggest source of risk.

06/12/26 01:14 PM 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. Find out what analysts predict for Flowco in the coming months.

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%.


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Financial statements for NYSE:FLOC last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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