Filing Flows › Natural Gas Services Group (NGS) › Q4 2025
Natural Gas Services Group (NGS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 16, 2026
Natural Gas Services Group (NGS) reported revenue of $46.1M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +6% from the quarter before. Operating margin was 15.4%, net earnings $4.1M (8.9% of revenue).
Natural Gas Services Group, Q4 2025: revenue $46.1M (+14% year over year), operating margin 15.4%, net earnings $4.1M, operating cash flow $13.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.1M | +6% | +14% |
| Operating profit | $7.1M | -34% | +18% |
| Net earnings | $4.1M | -29% | +43% |
| Operating cash flow | $13.9M | -17% | +47% |
What changed
Revenue was $46.1M in Q4 2025, up 14% year over year and up 6% from the previous quarter.
Operating profit was $7.1M, a 15.4% margin (up 0.5 points year over year). Of the extra revenue versus Q4 2024, 19% reached operating profit, above the 15% margin then. Total costs grew 13% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+21%). Net earnings were $4.1M, up 43% year over year. The effective tax rate was 29.8%.
Operating cash flow was $13.9M (up 47% year over year), 338% of net earnings. Non-cash charges added back $9.8M of depreciation and amortization and $576K of share-based compensation. Capital expenditures of $34.6M exceeded it, leaving free cash flow of −$20.7M.
Questions
What was Natural Gas Services Group's revenue in the fourth quarter 2025?
Natural Gas Services Group (NGS) reported revenue of $46.1M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +6% from the quarter before.
Was Natural Gas Services Group profitable in the fourth quarter 2025?
Operating profit was $7.1M (15.4% of revenue) and net earnings $4.1M.