Natural Gas Services Group, Inc. (NGS) Key Metrics
NGS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $401.1M
- Enterprise value
- $757.2M
- P/E (TTM)
- 19.3 10-yr median 41.9
- Forward P/E
- 11.9
- PEG ratio
- 0.82
- Price / sales
- 2.1 10-yr median 2.1
- Price / book
- 1.5 10-yr median 0.8
- EV / EBITDA
- 9.2 10-yr median 8.5
- Dividend yield
- 1.93% $0.60 a year
- Beta
- 0.47
NGS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNGS valuation Price multiples at each fiscal year-end price.
NGS returns How much profit the business earns on the capital it uses.
NGS per-share figures Results divided by the shares outstanding at year-end.
NGS financial health Debt, liquidity and how easily interest is covered.
NGS efficiency & capital use Working capital cycle and where the cash goes.
NGS valuation history
NGS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NGS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NGS cash returned to shareholders
NGS price vs earnings per share
NGS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $427.2M | $336.4M | $199.1M | $141.0M | $137.2M | $125.7M | $160.8M | $213.1M | $343.5M | $415.9M |
| Enterprise value | $657.6M | $504.5M | $361.6M | $163.0M | $114.5M | $97.7M | $150.2M | $160.9M | $274.7M | $352.2M |
| P/E ratio | 21.4 | 19.5 | 41.9 | — | — | 69.5 | — | 500.3 | 17.3 | 64.3 |
| Price / sales | 2.5 | 2.1 | 1.6 | 1.7 | 1.9 | 1.8 | 2.0 | 3.3 | 5.1 | 5.8 |
| Price / book | 1.6 | 1.3 | 0.8 | 0.6 | 0.6 | 0.5 | 0.6 | 0.8 | 1.3 | 1.8 |
| Price / free cash flow | — | — | — | — | 53.2 | 7.2 | — | — | 86.7 | 14.6 |
| Price / operating cash flow | 6.8 | 5.1 | 11.0 | 5.1 | 4.8 | 3.9 | 5.5 | 9.1 | 19.7 | 12.7 |
| EV / sales | 3.8 | 3.2 | 3.0 | 1.9 | 1.6 | 1.4 | 1.9 | 2.5 | 4.1 | 4.9 |
| EV / EBITDA | 8.6 | 7.8 | 9.7 | 6.7 | 8.4 | 4.4 | 17.2 | 7.4 | 12.0 | 11.6 |
| EV / free cash flow | — | — | — | — | 44.4 | 5.6 | — | — | 69.3 | 12.4 |
| Earnings yield | 4.7% | 5.1% | 2.4% | −0.4% | −6.7% | 1.4% | −8.6% | 0.2% | 5.8% | 1.6% |
| Free cash flow yield | −13.7% | −1.6% | −68.3% | −26.5% | 1.9% | 13.8% | −25.2% | −7.7% | 1.2% | 6.8% |
| Dividend yield | 0.6% | 0.0% | 0.0% | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.6% | 0.1% | 0.5% | 4.7% | 5.7% | 0.1% | 0.3% | 0.3% | 0.2% | 0.2% |
| Share price at fiscal year-end | $33.65 | $26.80 | $16.08 | $11.46 | $10.47 | $9.48 | $12.26 | $16.44 | $26.20 | $32.15 |
| Per share | ||||||||||
| Revenue per share | $13.57 | $12.49 | $9.78 | $6.89 | $5.53 | $5.13 | $5.98 | $5.05 | $5.16 | $5.54 |
| Earnings per share | $1.57 | $1.37 | $0.38 | −$0.05 | −$0.70 | $0.14 | −$1.06 | $0.03 | $1.51 | $0.50 |
| Operating cash flow per share | $4.96 | $5.29 | $1.46 | $2.26 | $2.16 | $2.46 | $2.24 | $1.81 | $1.33 | $2.53 |
| Free cash flow per share | −$4.61 | −$0.43 | −$10.98 | −$3.04 | $0.20 | $1.31 | −$3.09 | −$1.26 | $0.30 | $2.20 |
| Cash per share | $0.00 | $0.17 | $0.22 | $0.27 | $1.75 | $2.18 | $0.88 | $4.06 | $5.28 | $4.96 |
| Book value per share | $21.64 | $20.32 | $19.05 | $18.70 | $18.01 | $18.97 | $18.89 | $20.07 | $19.63 | $18.01 |
| Tangible book value per share | $21.64 | $20.32 | $18.99 | $18.62 | $17.93 | $18.88 | $18.79 | $19.19 | $18.75 | $17.11 |
| Dividends per share | $0.21 | $0.00 | $0.00 | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $9.57 | $5.73 | $12.43 | $5.29 | $1.96 | $1.15 | $5.33 | $3.07 | $1.03 | $0.33 |
| Debt per share | $18.15 | $13.55 | $13.35 | $2.06 | $0.02 | $0.07 | $0.08 | $0.03 | $0.03 | $0.03 |
| Shares outstanding | 12.7M | 12.6M | 12.4M | 12.3M | 13.1M | 13.3M | 13.1M | 13.0M | 13.1M | 12.9M |
| Change in shares outstanding | +1.1% | +1.4% | +0.6% | −6.1% | −1.2% | +1.1% | +1.1% | −1.1% | +1.4% | +1.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.5% | 7.0% | 2.0% | −0.2% | −3.8% | 0.7% | −5.5% | 0.2% | 8.1% | 2.8% |
| Return on invested capital (ROIC) | 6.5% | 6.5% | 2.3% | 0.1% | −4.5% | −1.2% | −1.6% | 0.2% | 0.9% | 3.6% |
| Return on assets (ROA) | 3.7% | 3.5% | 1.2% | −0.2% | −3.0% | 0.6% | −4.7% | 0.1% | 6.7% | 2.2% |
| Return on tangible assets | 3.4% | 3.5% | 1.0% | −0.2% | −3.0% | 0.6% | −4.9% | 0.1% | 6.9% | 2.3% |
| Free cash flow margin | −34.0% | −3.5% | −112.2% | −44.0% | 3.6% | 25.6% | −51.7% | −25.0% | 5.9% | 39.7% |
| Income quality (OCF / net income) | 3.16 | 3.86 | 3.80 | — | — | 18.06 | — | 54.96 | 0.88 | 5.07 |
| Financial health | ||||||||||
| Total debt | $230.5M | $170.2M | $165.3M | $25.3M | $285,000 | $900,000 | $1.0M | $417,000 | $417,000 | $417,000 |
| Cash & short-term investments | $0 | $2.1M | $2.7M | $3.4M | $22.9M | $28.9M | $11.6M | $52.6M | $69.2M | $64.1M |
| Net debt | $230.5M | $168.0M | $162.5M | $22.0M | −$22.7M | −$28.0M | −$10.6M | −$52.2M | −$68.8M | −$63.7M |
| Debt / equity | 0.84 | 0.67 | 0.70 | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.39 | 0.35 | 0.35 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | 3.00 | 2.59 | 4.36 | 0.90 | −1.66 | −1.26 | −1.21 | −2.40 | −3.00 | −2.10 |
| Current ratio | 2.33 | 2.78 | 2.33 | 1.78 | 3.21 | 6.70 | 7.70 | 8.81 | 14.52 | 15.35 |
| Quick ratio | 1.49 | 1.74 | 1.67 | 1.01 | 2.26 | 4.86 | 3.87 | 5.98 | 11.00 | 11.37 |
| Interest coverage | 3.0 | 2.8 | 2.6 | 1.2 | -190.9 | -257.1 | -300.2 | 9.2 | 111.9 | — |
| Working capital | $32.6M | $30.8M | $43.6M | $23.7M | $44.8M | $61.9M | $36.9M | $85.5M | $100.8M | $93.3M |
| Invested capital | $505.2M | $423.1M | $398.4M | $252.1M | $213.3M | $223.5M | $237.1M | $208.0M | $188.5M | $169.3M |
| Tangible asset value | $274.7M | $255.1M | $235.1M | $229.2M | $234.9M | $250.4M | $246.4M | $248.7M | $245.8M | $221.3M |
| Net current asset value | −$254.9M | −$189.3M | −$166.6M | −$44.0M | −$5.5M | $17.5M | $3.5M | $51.2M | $67.2M | $39.2M |
| Graham number | $27.65 | $25.05 | $12.82 | — | — | $7.63 | — | $3.85 | $25.86 | $14.24 |
| Graham net-net per share | −$21.85 | −$16.42 | −$15.44 | −$5.16 | −$1.64 | −$0.56 | −$0.76 | $2.18 | $3.64 | $1.70 |
| Capital allocation | ||||||||||
| Dividends paid | $2.6M | $0 | $0 | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $0 | $178,000 | $983,000 | $6.7M | $7.9M | $152,000 | $490,000 | $629,000 | $644,000 | $909,000 |
| Dividend payout ratio | 13.2% | 0.0% | 0.0% | — | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | — | — | — | — | 304.4% | 0.9% | — | — | 16.3% | 3.2% |
| Capex / revenue | 70.5% | 45.9% | 127.1% | 76.8% | 35.5% | 22.4% | 89.2% | 60.8% | 19.9% | 6.0% |
| Capex / operating cash flow | 193.1% | 108.2% | 853.7% | 234.6% | 90.9% | 46.7% | 237.8% | 169.9% | 77.3% | 13.1% |
| Capex / depreciation | 3.31 | 2.29 | 5.80 | 2.70 | 1.01 | 0.61 | 3.01 | 1.80 | 0.63 | 0.20 |
| Stock-based compensation / revenue | 1.2% | 1.2% | 1.7% | 2.3% | 2.4% | 3.2% | 3.3% | 3.6% | 6.0% | 3.2% |
| R&D / revenue | — | — | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| SG&A / revenue | 13.0% | 13.4% | 14.1% | 16.1% | 14.9% | 15.5% | 13.7% | 13.9% | 14.9% | 12.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 63.0 | 90.4 | 115.9 | 103.6 | 85.2 | 56.3 | 38.0 | 43.9 | 42.9 | 42.0 |
| Days of inventory on hand | 65.1 | 72.4 | 92.4 | 110.7 | 101.2 | 123.4 | 140.6 | 187.3 | 169.5 | 182.1 |
| Days payables outstanding | 39.9 | 49.8 | 49.4 | 29.2 | 18.5 | 13.1 | 11.1 | 20.6 | 16.7 | 7.5 |
| Cash conversion cycle (days) | 88.2 | 113.0 | 158.8 | 185.0 | 168.0 | 166.6 | 167.5 | 210.6 | 195.7 | 216.6 |
| Receivables turnover | 5.80 | 4.04 | 3.15 | 3.52 | 4.28 | 6.48 | 9.61 | 8.31 | 8.51 | 8.69 |
| Payables turnover | 9.14 | 7.33 | 7.38 | 12.50 | 19.74 | 27.89 | 32.99 | 17.74 | 21.84 | 48.86 |
| Inventory turnover | 5.60 | 5.04 | 3.95 | 3.30 | 3.61 | 2.96 | 2.60 | 1.95 | 2.15 | 2.00 |
| Asset turnover | 0.32 | 0.32 | 0.30 | 0.27 | 0.24 | 0.23 | 0.27 | 0.22 | 0.23 | 0.25 |
| Average receivables | $29.7M | $38.8M | $38.5M | $24.1M | $16.9M | $10.5M | $8.2M | $7.9M | $8.0M | $8.2M |
| Average payables | $11.9M | $13.6M | $12.1M | $5.6M | $3.6M | $2.2M | $2.0M | $3.1M | $2.6M | $1.1M |
| Average inventory | $19.3M | $19.8M | $22.5M | $21.4M | $19.6M | $20.5M | $26.0M | $28.6M | $26.0M | $26.8M |
| Intangibles / total assets | 0.0% | 0.0% | 0.2% | 0.3% | 0.3% | 0.4% | 0.4% | 3.7% | 3.9% | 4.0% |
Computed from NGS's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NGS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Natural Gas Services traded at 21.4 times earnings, against a 10-year median of 41.9. Based on the latest twelve months, the trailing P/E is 19.3 and the forward P/E is 11.9. Natural Gas Services earned a return on equity of 7.5% and a return on invested capital of 6.5% in fiscal 2025. It ended the year with $230.5 million of debt and $0 in cash and short-term investments, net debt of $230.5 million. It returned $2.6 million to shareholders: $2.6 million in dividends and $0 in share buybacks.
See the NGS income statement, the NGS chart for price history, or the NGS stock overview for the latest quote and news.
NGS key metrics FAQ
What is Natural Gas Services's P/E ratio?
Natural Gas Services's trailing P/E ratio is 19.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.9. At the end of fiscal 2025 it was 21.4, compared with a 10-year median of 41.9.
What is Natural Gas Services's EV/EBITDA?
Natural Gas Services's enterprise value was 8.6 times EBITDA at the end of fiscal 2025 (enterprise value $657.6 million, EBITDA $76.8 million); the current EV/EBITDA is 9.2.
What is Natural Gas Services's return on equity?
Natural Gas Services's return on equity (ROE) was 7.5% in fiscal 2025: net income of $19.9 million on average shareholders' equity of $264.9 million.
What is Natural Gas Services's ROIC?
Natural Gas Services's return on invested capital was 6.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Natural Gas Services have?
Natural Gas Services had total debt of $230.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.84 and $230.5 million of net debt (3.00 times EBITDA).
What is Natural Gas Services's dividend yield?
Natural Gas Services's forward dividend yield is 1.93%. Natural Gas Services paid $2.6 million in dividends in fiscal 2025 ($0.21 per share), a payout ratio of 13.2%.
What is Natural Gas Services's free cash flow yield?
Natural Gas Services generated -$58.6 million of free cash flow in fiscal 2025, a free cash flow yield of −13.7% on its market value at year-end ($427.2 million).
What is Natural Gas Services's current ratio?
Natural Gas Services's current ratio was 2.33 at the end of fiscal 2025: current assets were 2.33 times current liabilities.