NGS
Natural Gas Services Group, Inc.
NGS's fundamentals are mixed, but it looks cheap: trading at 18x earnings, below its usual 23x. Analysts expect strong earnings growth.
NGS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Weak |
NGS's revenue and profitability are currently healthy, but its cash flow and balance sheet are under pressure.
NGS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $29.11 | — |
| Current | 18x | $29.11 | — |
| Cheap | 19x | $29.66 | +1.9% |
| Fair | 23x | $36.29 | +25% |
| Expensive | 68x | $108 | +271% |
Historical ranges are pointers, not guarantees.
NGS's PE is in its cheap range at 18x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
NGS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for NGS, with profitability improving.
NGS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.41 | +52% |
| Q3 2026 | $1.58 | +7.5% |
| Q2 2026 | $1.61 | +14% |
| Q1 2026 | $1.72 | +28% |
| Q4 2025 | $1.57 | +15% |
| Q3 2025 | $1.47 | +15% |
| Q2 2025 | $1.41 | +33% |
| Q1 2025 | $1.34 | +76% |
| Q4 2024 | $1.37 | +261% |
NGS's earnings per share have climbed steadily: $1.58 over the past year, up 7.5% from the year before, and higher year over year for 16 quarters in a row.
NGS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $61.3M | +41% |
| Q2 2026 | $51.4M | +24% |
| Q1 2026 | $48.5M | +17% |
| Q4 2025 | $46.1M | +14% |
| Q3 2025 | $43.4M | +6.7% |
| Q2 2025 | $41.4M | +7.5% |
| Q1 2025 | $41.4M | +12% |
| Q4 2024 | $40.7M | +12% |
NGS's revenue has grown year over year for 23 quarters in a row: $61M last quarter, up 41% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | -2.3 points |
| Q2 2026 | 19% | -4.7 points |
| Q1 2026 | 27% | +4 points |
| Q4 2025 | 15% | +0.6 points |
| Q3 2025 | 25% | +1.5 points |
| Q2 2025 | 24% | +1.9 points |
| Q1 2025 | 23% | -2.3 points |
| Q4 2024 | 15% | +2.6 points |
NGS's operating margin was 22% last quarter, down 2.3 points from the same quarter a year ago.
NGS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$9.2M | +$15.9M |
| Q2 2026 | $6.6M | +$21.5M |
| Q1 2026 | $7.8M | +287% |
| Q4 2025 | -$20.7M | -$15.6M |
| Q3 2025 | -$25.1M | -$21.9M |
| Q2 2025 | -$14.8M | -281% |
| Q1 2025 | $2M | +$7.3M |
| Q4 2024 | -$5.1M | +$27.9M |
NGS has burned cash in most quarters: −$15M over the past year, against −$43M the year before.
NGS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.6% | +201K shares |
| 1 year | +2.8% | +358K shares |
| 3 years | +5.2% | +640K shares |
| 5 years | -0.6% | -78K shares |
| Available history | -0.5% | -71K shares |
NGS has 13M diluted shares, up 2.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $3.7M |
| Q1 2022 | $2.9M |
NGS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.7x | High |
| Q2 2026 | 8.1x | High |
| Q1 2026 | 5.7x | High |
| Q4 2025 | 6.2x | High |
| Q3 2025 | 5.8x | High |
| Q2 2025 | 5.3x | High |
| Q1 2025 | 5.0x | High |
| Q4 2024 | 5.2x | High |
NGS's net debt is about 7.7 years of its operating earnings (EBITDA), up from 5.8 years a year ago.
NGS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.9 | Neutral |
| Stochastic | 20.2 | Neutral |
NGS's weekly RSI is 37 (neutral) and its Stochastic is 20 (neutral).
NGS PE vs Energy Sector
| Metric | NGS | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 13x | 40% above |
| PE % | 13 | 61 | 48 pts below |
NGS is trading at 18x earnings, a 40% premium to the Energy sector's median of 13x.
NGS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.3 | 6.9% below |
| 20 week MA | $34.8 | 16% below |
| 50 week MA | $36.6 | 20% below |
| 100 week MA | $30.9 | 5.8% below |
| 200 week MA | $23.4 | 24% above |
NGS has fallen below most of its moving averages, though it's still 24% above its 200-week average.
NGS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.0 | $10.2 | -15% |
| 2021 | $10.2 | $10.6 | +3.9% |
| 2022 | $10.6 | $11.1 | +4.6% |
| 2023 | $11.1 | $16.1 | +45% |
| 2024 | $16.1 | $25.5 | +58% |
| 2025 | $25.5 | $33.4 | +31% |
| 2026 YTD | $33.4 | $29.1 | -13% |
NGS has finished higher in five of the last six years. It's down 13% so far in 2026.