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Natural Gas Services Group (NGS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Natural Gas Services Group (NGS) Q2 2026 earnings results →
Q2 2026 Revenue up 24% year over year to $51.4M · 7¢ of every $1 of revenue kept as net profit · operating margin 19.3%
Natural Gas Services Group made $51.4M in Q2 2026 (+24% Y/Y). Operating margin 19.3%, net earnings $3.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
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Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $51.4M in Q2 2026, up 24% year over year and up 6% from the previous quarter.
Operating profit was $9.9M, a 19.3% margin (down 4.7 points year over year). Operating profit fell $2K even though revenue rose $10.0M versus Q2 2025, so costs grew faster than sales. Total costs grew 32% against revenue growth of 24%. The fastest-growing cost line was SG&A (+82%). Net earnings were $3.8M, down 26% year over year. The effective tax rate was 30.9%.
Operating cash flow was $25.4M (up 131% year over year), 664% of net earnings. Non-cash charges added back $11.0M of depreciation and amortization and $851K of share-based compensation. Working capital and other items added $9.8M. Capital expenditures of $18.8M left free cash flow of $6.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $51.4M | +24% | 19.3% | $3.8M | $25.4M |
| Q1 2026 | 10-Q | May 11, 2026 | $48.5M | +17% | 27.0% | $6.8M | $23.0M |
| Q4 2025 | 10-K | Mar 16, 2026 | $46.1M | +14% | 15.4% | $4.1M | $13.9M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $43.4M | +7% | 24.8% | $5.8M | $16.8M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $41.4M | +8% | 24.0% | $5.2M | $11.0M |
| Q1 2025 | 10-Q | May 12, 2025 | $41.4M | +12% | 23.0% | $4.9M | $21.3M |
| Q4 2024 | 10-K | Mar 17, 2025 | $40.7M | +12% | 14.9% | $2.9M | $9.4M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Natural Gas Services Group
Unless the context otherwise requires, references in this Annual Report on Form 10-K to “Natural Gas Services Group,” the “Company,” “NGS,” “we,” “us,” or “our” refer to Natural Gas Services Group, Inc. and its consolidated subsidiary, NGSG Properties, LLC. Certain specialized terms used in describing our natural gas compressor business are defined in “Glossary of Industry Terms” on page ii. We were incorporated in December 1998 and initially operated as a holding company of a group of subsidiaries that were engaged in the manufacturing, operation and leasing of natural gas compression equipment, flares and related assets to the natural gas industry with a focus on unconventional natural gas production plays in the U.S. (such as coalbed methane, gas shales and tight gas).
In its own words, from its 10-K, filed Mar 16, 2026.
Natural Gas Services Group against its Oil & Gas Field Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +24% against the peers' median +7%. Operating margin: 19.3% against the peers' median 10.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NGS Natural Gas Services Group | Q2 2026 | $51.4M | +24% | 19.3% |
| SLB SLB Limited | Q3 2026 | $9.4B | +6% | 10.8% |
| HAL Halliburton | Q3 2026 | $5.7B | +2% | 10.9% |
| LBRT Liberty Energy | Q3 2026 | $1.2B | +26% | 1.6% |
| OII Oceaneering International | Q3 2026 | $785M | +6% | 11.7% |
| NESR National Energy Services Reunited | Q2 2026 | $521M | +59% | 12.5% |
| ACDC ProFrac Holding | Q3 2026 | $511M | +27% | -6.7% |
| RES RPC | Q3 2026 | $468M | +5% | -11.5% |
| XPRO Expro | Q3 2026 | $440M | +7% | 1.1% |
Source: Natural Gas Services Group 10-Q on SEC EDGAR · CIK 1084991 · Oil & Gas Field Services, NEC
13F: who owns NGS and who is buying
More on NGS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results