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Flowco Holdings Inc., through its subsidiaries, provides production optimization, artificial lift, and emissions management and monetization solutions for the oil and natural gas industry in the United States. The company operates in two segments, Production Solutions and Natural Gas Technologies. The company involves in the renting, servicing, and sale of high-pressure gas lifts, conventional gas lifts, and plunger lifts; and manufacture and installation of methane abatement technologies that allow producers to reduce methane emissions associated with their wellsite operations, as well as offers digital solutions. It also manufactures, rents, services, and sells vapor recovery unit systems; and manufactures natural gas systems. Flowco Holdings Inc. was incorporated in 2024 and is headquartered in Houston, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $760M | $304M | $41M | $167M | 18.1% | 41.9% | -48.4% |
| 2024 | $535M | $209M | $80M | $89M | 9.6% | 120.0% | 38.1% |
| 2023 | $243M | $122M | $58M | $38M | 43.4% | 63.7% | 77.5% |
| 2022 | $149M | $79M | $33M | $-40M | 25.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 148.61 | 243.32 | 535.28 | 759.72 |
| Operating Revenue | 148.61 | 243.32 | 535.28 | 759.72 |
| Cost Of Revenue | 91.68 | 148.60 | 355.29 | 491.39 |
| Gross Profit | 56.93 | 94.72 | 179.99 | 268.33 |
| Operating Expense | 14.17 | 15.22 | 62.45 | 118.58 |
| Selling General And Administration | 14.17 | 15.22 | 62.45 | 118.58 |
| Total Expenses | 105.85 | 163.82 | 417.74 | 609.96 |
| Operating Income | 42.76 | 79.50 | 117.54 | 149.75 |
| Total Operating Income As Reported | 42.70 | 78.33 | 116.74 | 149.01 |
| EBITDA | 78.72 | 121.75 | 208.95 | 304.42 |
| Normalized EBITDA | 78.77 | 122.92 | 209.97 | 305.16 |
| EBIT | 42.30 | 77.42 | 113.76 | 149.75 |
| Interest Expense | 9.28 | 18.96 | 32.34 | 18.94 |
| Net Interest Income | -9.28 | -18.96 | -32.34 | -18.94 |
| Other Non Operating Income Expenses | -0.41 | -0.91 | -2.76 | 0.74 |
| Other Income Expense | -0.46 | -2.08 | -3.77 | 0 |
| Interest Expense Non Operating | 9.28 | 18.96 | 32.34 | 18.94 |
| Net Non Operating Interest Income Expense | -9.28 | -18.96 | -32.34 | -18.94 |
| Pretax Income | 33.01 | 58.47 | 81.42 | 130.81 |
| Tax Provision | 0.28 | 0.38 | 1.17 | -0.84 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | -0.01 | -0.01 | -0.16 |
| Net Income Continuous Operations | 32.73 | 58.09 | 80.25 | 131.66 |
| Net Income From Continuing And Discontinued Operation | 32.73 | 58.09 | 80.25 | 41.40 |
| Net Income From Continuing Operation Net Minority Interest | 32.73 | 58.09 | 80.25 | 41.40 |
| Net Income | 32.73 | 58.09 | 80.25 | 41.40 |
| Net Income Common Stockholders | 32.73 | 58.09 | 80.25 | 41.40 |
| Net Income Including Noncontrolling Interests | 32.73 | 58.09 | 80.25 | 131.66 |
| Normalized Income | 32.78 | 59.25 | 81.25 | 41.98 |
| Diluted NI Availto Com Stockholders | 32.73 | 58.09 | 80.25 | 41.40 |
| Basic Average Shares | 21.99 | 21.99 | 21.99 | - |
| Diluted Average Shares | 88.18 | 88.18 | 21.99 | - |
| Reconciled Depreciation | 36.42 | 44.33 | 95.19 | 154.66 |
| Reconciled Cost Of Revenue | 91.68 | 148.60 | 355.29 | 491.39 |
| Total Unusual Items | -0.05 | -1.17 | -1.02 | -0.74 |
| Total Unusual Items Excluding Goodwill | -0.05 | -1.17 | -1.02 | -0.74 |
| Minority Interests | - | -60.11 | - | -90.26 |
| Special Income Charges | -0.05 | -1.17 | -1.02 | -0.74 |
| Other Special Charges | - | - | 0.22 | - |
| Gain On Sale Of Ppe | -0.05 | -1.17 | -0.80 | -0.74 |
| Rent Expense Supplemental | 33.21 | 42.18 | 74.49 | - |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FLOCthis co. | FLOC | $2.5B | 60.62↑ premium | 10.98 | 18.1% | 8.92 |
| Delek US Holdings, Inc. | DK | $2.9B | -128.14 | 10.20 | -8.0% | 7.16 |
| Seadrill Limited | SDRL | $2.9B | - | 1.68 | -2.7% | 12.69 |
| Select Water Solutions, Inc. | WTTR | $2.7B | 127.24 | 3.35 | 2.6% | 13.33 |
| DHT Holdings, Inc. | DHT | $2.6B | 12.39 | 2.31 |
| 18.6% |
| 8.94 |
| National Energy Services Reunited Corp. | NESR | $2.6B | 49.96 | 2.64 | 5.3% | 11.77 |
| Teekay Tankers Ltd. | TNK | $2.4B | 6.92 | 1.19 | 17.2% | 3.77 |
| NextDecade Corporation | NEXT | $2.3B | -7.49 | 24.07 | -321.4% | -32.95 |
| Sable Offshore Corp. | SOC | $2.1B | - | 5.44 | -76.8% | - |
| Peer Median | - | 9.65 | 3.00 | -0.0% | 8.94 | |