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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 | 3.0% | 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 |
| 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 |
| Operating Income | 42.76 | 79.50 | 117.54 | 149.75 |
| EBITDA | 78.72 | 121.75 | 208.95 | 304.42 |
| EBIT | 42.30 | 77.42 | 113.77 | 149.75 |
| Pretax Income | 33.01 | 58.47 | 81.42 | 130.81 |
| Tax Provision | 0.28 | 0.38 | 1.17 | -0.84 |
| Net Income | 32.73 | 58.09 | 80.25 | 41.40 |
| Net Income Common Stockholders | 32.73 | 58.09 | 80.25 | 41.40 |
| Total Expenses | 105.85 | 163.82 | 417.74 | 609.97 |
| Interest Expense | 9.28 | 18.96 | 32.34 | 18.94 |
| Selling General And Administration | 14.17 | 15.22 | 62.45 | 118.58 |
| Normalized EBITDA | 78.77 | 122.92 | 209.97 | 305.16 |
| Normalized Income | 32.78 | 59.25 | 81.25 | 41.98 |
| Basic EPS | 1.49 | 2.64 | 3.65 | 0 |
| Diluted EPS | 0.37 | 0.66 | 3.65 | 0 |
| Tax Effect Of Unusual Items | 0 | -0.01 | -0.01 | -0.16 |
| Tax Rate For Calcs | 0.01 | 0.01 | 0.01 | 0.21 |
| Total Unusual Items | -0.05 | -1.17 | -1.02 | -0.74 |
| Total Unusual Items Excluding Goodwill | -0.05 | -1.17 | -1.02 | -0.74 |
| Net Income From Continuing Operation Net Minority Interest | 32.73 | 58.09 | 80.25 | 41.40 |
| Reconciled Depreciation | 36.42 | 44.33 | 95.19 | 154.66 |
| Reconciled Cost Of Revenue | 91.68 | 148.60 | 355.29 | 491.39 |
| Net Interest Income | -9.28 | -18.96 | -32.34 | -18.94 |
| Net Income From Continuing And Discontinued Operation | 32.73 | 58.09 | 80.25 | 41.40 |
| Rent Expense Supplemental | 33.21 | 42.18 | 74.49 | 0 |
| Total Operating Income As Reported | 42.70 | 78.33 | 116.74 | 149.01 |
| Diluted Average Shares | 88.18 | 88.18 | 21.99 | 0 |
| Basic Average Shares | 21.99 | 21.99 | 21.99 | 0 |
| Diluted NI Availto Com Stockholders | 32.73 | 58.09 | 80.25 | 41.40 |
| Minority Interests | 0 | -60.11 | 0 | -90.26 |
| Net Income Including Noncontrolling Interests | 32.73 | 58.09 | 80.25 | 131.66 |
| Net Income Continuous Operations | 32.73 | 58.09 | 80.25 | 131.66 |
| Other Income Expense | -0.46 | -2.08 | -3.77 | 0 |
| Other Non Operating Income Expenses | -0.41 | -0.91 | -2.76 | 0.74 |
| Special Income Charges | -0.05 | -1.17 | -1.02 | -0.74 |
| Gain On Sale Of Ppe | -0.05 | -1.17 | -0.80 | -0.74 |
| Other Special Charges | 0 | 0 | 0.22 | 0 |
| Net Non Operating Interest Income Expense | -9.28 | -18.96 | -32.34 | -18.94 |
| Interest Expense Non Operating | 9.28 | 18.96 | 32.34 | 18.94 |
| Operating Revenue | 148.61 | 243.32 | 535.28 | 759.72 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FLOCthis co. | FLOC | $2.6B | 19.77↓ discount | 3.12 | 3.0% | 6.87 |
| Seadrill Limited | SDRL | $3.1B | - | 1.09 | -2.7% | 11.06 |
| DHT Holdings, Inc. | DHT | $2.9B | 13.95 | 2.59 | 18.6% | 10.27 |
| Delek US Holdings, Inc. | DK | $2.9B | - | 9.74 | -4.2% | 7.29 |
| Teekay Tankers Ltd. | TNK | $2.7B | 7.75 | 1.32 | 17.2% |
| 6.81 |
| National Energy Services Reunited Corp. | NESR | $2.4B | 46.63 | 2.52 | 5.3% | 11.06 |
| Select Water Solutions, Inc. | WTTR | $2.3B | 80.95 | 2.21 | 2.3% | 10.25 |
| ProPetro Holding Corp. | PUMP | $2.2B | 1820.00 | 2.29 | 0.1% | 11.95 |
| Sable Offshore Corp. | SOC | $2.1B | - | 3.78 | -76.8% | -7.50 |
| Peer Median | - | 46.63 | 2.41 | 1.2% | 10.26 | |