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Natural Gas Services Group cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$6.6M in Q2 2026 · −$31.3M over twelve months

Operating cash flow$25.4M
Capital spending−$18.8M
Free cash flow+$6.6M
Cash / net income6.6×
Cash conversion cycle90 days

Analysis

In Q2 2026, Natural Gas Services Group generated $25.4M of operating cash flow and spent $18.8M on capital projects, leaving free cash flow of $6.6M. That is $21.5M more than in Q2 2025 (−$14.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was $79.1M; the largest uses were capital spending ($110M), other investing ($109M), dividends ($5.9M); besides operations, cash came from net borrowing (+) / repaid (−) ($146M), shares issued ($1.1M); the cash balance fell by $241K.

Operating cash flow was $25.4M against net income of $3.8M — 6.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$11.0M, receivables +$3.7M, payables +$3.7M.

Its cash conversion cycle was 90 days (receivables 40 + inventory 112 − payables 62).

Free cash flow

Natural Gas Services Group: free cash flow by quarterNatural Gas Services Group: free cash flow by quarter−$3.2MQ3 2024−$5.1MQ4 2024$2.0MQ1 2025−$14.8MQ2 2025−$25.1MQ3 2025−$20.7MQ4 2025$7.8MQ1 2026$6.6MQ2 2026
Operating cash flow less capital spending.
Natural Gas Services Group: operating cash flow against capital spendingNatural Gas Services Group: operating cash flow against capital spendingOperating cash flowCapital spending$25.9M$29.1MQ3 2024$9.4M$14.5MQ4 2024$21.3M$19.3MQ1 2025$11.0M$25.8MQ2 2025$16.8M$41.9MQ3 2025$13.9M$34.6MQ4 2025$23.0M$15.2MQ1 2026$25.4M$18.8MQ2 2026
Latest (Q2 2026): Operating cash flow $25.4M, Capital spending $18.8M.

Capital allocation, year by year

Natural Gas Services Group: where the cash came from (up) and went (down), by fiscal yearNatural Gas Services Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $28.5MFY2021: Net borrowing −$417KFY2021: Asset sales $195KFY2021: Capital spending −$25.7MFY2021: Buybacks −$7.9M$28.7MFY2021FY2022: Operating cash flow $27.8MFY2022: Net borrowing $25.0MFY2022: Asset sales $372KFY2022: Capital spending −$65.1MFY2022: Buybacks −$6.7M$53.1MFY2022FY2023: Operating cash flow $18.0MFY2023: Net borrowing $139MFY2023: Asset sales $477KFY2023: Capital spending −$154M$157MFY2023FY2024: Operating cash flow $66.5MFY2024: Net borrowing $5.4MFY2024: Shares issued $293KFY2024: Asset sales $476KFY2024: Capital spending −$71.9M$72.6MFY2024FY2025: Operating cash flow $62.9MFY2025: Net borrowing $60.0MFY2025: Shares issued $168KFY2025: Asset sales $94KFY2025: Capital spending −$121MFY2025: Dividends −$2.6M$123MFY2025
Over these 5 years operating cash flow totalled $204M; the largest uses were capital spending ($438M) and buybacks ($14.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$84K
Debtnone
Net cash$84K

Natural Gas Services Group's operations bring cash in ($79.1M over twelve months), and it spends more than that on capital projects: a gap of $31.3M funded from its $84K of cash and investments and from borrowing. That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Natural Gas Services Group: sources (+) and uses (−) of cash, Q2 2026Natural Gas Services Group: sources (+) and uses (−) of cash, Q2 2026Other investing−$109MNet borrowing (+) / repaid (−)$102MOperating cash flow$25.4MCapital spending−$18.8MCash drawn (+) / kept (−)$2.2MDividends−$1.9MOther financing−$1.1MShares issued$961KTaxes on employees’ shares−$193K
Natural Gas Services Group: sources (+) and uses (−) of cash, TTM to Q2 2026Natural Gas Services Group: sources (+) and uses (−) of cash, TTM to Q2 2026Net borrowing (+) / repaid (−)$146MCapital spending−$110MOther investing−$109MOperating cash flow$79.1MDividends−$5.9MOther financing−$1.2MShares issued$1.1MTaxes on employees’ shares−$388KCash drawn (+) / kept (−)$241KAsset & business sales$127K

From profit to cash

Natural Gas Services Group: net income to operating cash flow, Q2 2026Natural Gas Services Group: net income to operating cash flow, Q2 2026Net income$3.8MDepreciation & amortization$11.0MStock-based pay$851KDeferred taxes$1.8MGains on disposals−$1KReceivables$3.7MInventory−$437KPayables$3.7MPrepaid and other assets$1.8MOther operating capital−$1.1MOperating cash flow$25.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026401126290
Q1 2026381056380
Q4 202532976169
Q3 2025291047063
Q2 202532957849
Q1 202534936562
Q4 202446999451
Q3 20246510512941

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$25.4M−$18.8M−$1.9M$102M$961K$2.2M$6.6M
Q1 2026$23.0M−$15.2M−$1.4M−$4.0M$67K−$2.3M$7.8M
Q4 2025$13.9M−$34.6M−$1.4M$22.0M$13K—−$20.7M
Q3 2025$16.8M−$41.9M−$1.3M$26.0M$80K$325K−$25.1M
Q2 2025$11.0M−$25.8M—$14.0M$75K$1.8M−$14.8M
Q1 2025$21.3M−$19.3M—−$2.0M—−$5K$2.0M
Q4 2024$9.4M−$14.5M—$7.0M$223K−$1.7M−$5.1M
Q3 2024$25.9M−$29.1M——$70K$3.2M−$3.2M

Natural Gas Services Group: income statement and cash flow

Natural Gas Services Group, Q2 2026: revenue $51.4M (+24% year over year), operating margin 19.3%. The chart follows the revenue to costs, profit and cash.

Natural Gas Services Group: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.