Flowco Holdings Inc Class A (FLOC)
NYSE:FLOC
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Flowco Holdings Inc Class A
(NYSE:FLOC)
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Rating:82Outperform
Price Target:
$32.00
▲(35.19% Upside)
Action:Reiterated
Date:05/10/26
The score is driven primarily by strong financial performance (growth, profitability, and cash generation) and an attractive valuation (very low P/E). Technicals add support via an established uptrend, and the latest earnings call reinforced momentum with higher EBITDA guidance and conservative leverage, partially offset by near-term free-cash-flow moderation and some margin/cost headwinds.
Positive Factors
Strong cash generation
Consistent, strong operating cash flow that covers net income improves earnings quality and funds capex, dividends, and buybacks without relying on external financing. Over the medium term this enhances financial flexibility, supports reinvestment and de‑leveraging, and cushions cyclical downturns.
Negative Factors
Margin volatility and mix sensitivity
Material quarter‑to‑quarter margin swings tied to revenue mix indicate earnings are sensitive to product and service mix. Over the medium term this reduces predictability of margins and cash flow, complicates planning for fleet investment and returns, and raises execution risk for margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, strong operating cash flow that covers net income improves earnings quality and funds capex, dividends, and buybacks without relying on external financing. Over the medium term this enhances financial flexibility, supports reinvestment and de‑leveraging, and cushions cyclical downturns.
Read all positive factors
Flowco Holdings Inc Class A (FLOC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.48B
Dividend Yield1.32%
Average Volume (3M)747.89K
Price to Earnings (P/E)21.9
Beta (1Y)0.93
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees1,283
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)1.53
Shares Outstanding41,824,160
10 Day Avg. Volume769,878
30 Day Avg. Volume747,892
Financial Highlights & Ratios
PEG Ratio-0.14
Price to Book (P/B)2.21
Price to Sales (P/S)0.67
P/FCF Ratio3.03
Enterprise Value/Market Cap1.17
Enterprise Value/Revenue3.72
Enterprise Value/Gross Profit10.89
Enterprise Value/Ebitda9.21
Forecast
1Y Price Target
$29.60Price Target Upside25.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)1.57
Revenue Forecast (FY)$923.30M
Flowco Holdings Inc Class A Business Overview & Revenue Model
Company Description
Flowco Holdings Inc. operates as a holding company. The Company, through its subsidiaries, specializes in production optimization, artificial lift, and methane abatement solutions for the oil and natural gas industry....
Flowco Holdings Inc Class A Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed a largely positive operational and financial performance: revenue and adjusted EBITDA grew sequentially, margins remained strong (40.8% adjusted EBITDA margin), rental revenues and free cash flow were robust, the strategic Valiant acquisition closed and early integrations are encouraging, and the balance sheet remains conservatively positioned (pro forma leverage <1x). Headwinds include a mix-driven margin decline in Production Solutions, a temporary rise in corporate costs tied to the secondary offering, working capital impacts from the acquisition, and the expectation that free cash flow will moderate as CapEx ramps in Q2/Q3. Management signaled steady market conditions today with a back-half pickup in activity expected. Overall, the positives (strong cash generation, margin durability, accretive acquisition, and conservative leverage) outweigh the transitory and manageable negatives.Positive Updates
Adjusted EBITDA at the High End of Guidance
Adjusted EBITDA of $85.5 million in Q1 2026, up $2 million sequentially and at the upper end of guidance, demonstrating disciplined execution and margin resiliency.
Negative Updates
Segment Margin Pressure from Mix Shift
Production Solutions adjusted segment EBITDA margins decreased ~125 basis points quarter-over-quarter, primarily due to a revenue mix shift toward downhole components following inclusion of Valiant.
Read all updates
Q1-2026 Updates
Positive
Negative
Adjusted EBITDA at the High End of Guidance
Adjusted EBITDA of $85.5 million in Q1 2026, up $2 million sequentially and at the upper end of guidance, demonstrating disciplined execution and margin resiliency.
Read all positive updates
Company Guidance
Flowco guided second-quarter adjusted EBITDA of $93–97 million (helped by a full quarter of Valiant), after reporting Q1 adjusted EBITDA of $85.5 million on $209 million of revenue with a 40.8% adjusted EBITDA margin; Q1 free cash flow was $52 million and growth CapEx $26 million (annualized adjusted ROCE ~18%). Management reiterated full‑year organic CapEx of about $115 million (ex‑Valiant) plus ~$20–25 million of incremental CapEx for Valiant, which is expected to contribute ~ $52 million of adjusted EBITDA in 2026; pro forma leverage remains conservatively below 1x with $333 million drawn on a $722 million borrowing base (~$388 million available capacity). They expect corporate expenses to normalize to roughly $5 million per quarter, continue to see rental revenue as ~60% of total (rental revenues were up ~9% sequentially), anticipate free cash flow to moderate in Q2 as CapEx and working capital normalize, and are returning capital (dividend raised 12.5% to $0.09/share; $16.5 million used to repurchase 780,000 shares).Flowco Holdings Inc Class A Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 776.90M | 759.72M | 535.28M | 243.32M | 148.61M |
| Gross Profit | 265.28M | 258.50M | 179.99M | 94.72M | 56.93M |
| EBITDA | 313.61M | 304.42M | 208.95M | 121.75M | 78.72M |
| Net Income | 42.67M | 41.40M | 80.25M | 58.09M | 32.73M |
Balance Sheet | |||||
| Total Assets | 1.90B | 1.65B | 1.59B | 392.09M | 366.21M |
| Cash, Cash Equivalents and Short-Term Investments | 17.34M | 4.52M | 4.62M | 0.00 | 0.00 |
| Total Debt | 367.94M | 219.15M | 676.69M | 243.08M | 223.17M |
| Total Liabilities | 553.99M | 288.43M | 749.84M | 258.34M | 238.13M |
| Stockholders Equity | 336.22M | 228.63M | 839.11M | 133.75M | 128.08M |
Cash Flow | |||||
| Free Cash Flow | 204.57M | 167.08M | 88.70M | 38.35M | -40.40M |
| Operating Cash Flow | 330.53M | 294.37M | 179.38M | 81.86M | 66.56M |
| Investing Cash Flow | -360.37M | -199.75M | -94.43M | -42.67M | -106.93M |
| Financing Cash Flow | 46.49M | -94.71M | -80.33M | -39.19M | 40.37M |
Flowco Holdings Inc Class A Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $2.48B | 21.88 | 15.71% | 1.32% | ― | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | $5.37B | 51.72 | 7.39% | 1.78% | -4.02% | -39.84% | |
60 Neutral | $2.43B | -8.65 | -8.11% | 10.12% | -8.41% | -356.38% | |
50 Neutral | $2.35B | -12.59 | -8.39% | ― | 41.30% | -195.62% | |
49 Neutral | $1.34B | -3.01 | -53.92% | ― | -18.94% | -69.29% |
* Energy Sector Average
FLOC
Flowco Holdings Inc Class A
27.27
9.26
51.40%
DNOW
Now
13.07
-1.49
-10.23%
LBRT
Liberty Energy
31.84
20.39
178.08%
ACDC
ProFrac Holding
7.15
0.15
2.14%
AESI
Atlas Energy Solutions
19.07
6.73
54.54%
Flowco Holdings Inc Class A Corporate Events
Executive/Board ChangesShareholder Meetings
Flowco Holdings Stockholders Approve Directors and ESPP Plan
Positive
May 8, 2026
On May 7, 2026, Flowco Holdings Inc. Class A held its Annual Meeting of Stockholders, where investors voted on the election of two Class I directors, the adoption of a 2026 Employee Stock Purchase Plan, and the ratification of the company’s ...
Business Operations and StrategyRegulatory Filings and Compliance
Flowco Holdings Releases New Investor Presentation for Stakeholders
Neutral
May 8, 2026
On May 7, 2026, Flowco Holdings Inc. published an investor presentation on its website, making the materials available for use in meetings with investors, analysts and other stakeholders. The presentation is intended as an informational resource r...
Business Operations and StrategyExecutive/Board Changes
Flowco Adds Independent Director to Strengthen Board Governance
Positive
May 1, 2026
On April 29, 2026, Flowco Holdings Inc. appointed Hardy Murchison as an independent Class II director to fill a board vacancy, expanding the board to eight members and increasing the number of independent directors from three to four. Murchison, a...
Business Operations and StrategyDividendsFinancial Disclosures
Flowco Holdings Raises Quarterly Dividend, Signals Financial Strength
Positive
May 1, 2026
On May 1, 2026, Flowco Holdings Inc. announced that its Board of Directors approved a 12.5% increase in the quarterly cash dividend to $0.09 per share of Class A common stock, payable on May 27, 2026 to shareholders of record as of May 15, 2026. T...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Flowco Holdings Announces Secondary Offering and Share Repurchase
Neutral
Mar 24, 2026
On March 19, 2026, Flowco Holdings Inc. entered into an underwriting agreement with selling stockholders and a syndicate led by J.P. Morgan Securities LLC and Jefferies LLC for a secondary public offering of 7,800,000 shares of its Class A common ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Flowco Holdings Completes Acquisition of Valiant Artificial Lift
Positive
Mar 3, 2026
Flowco Holdings Inc. announced on March 3, 2026, that it completed the acquisition of Valiant Artificial Lift Solutions, LLC for total consideration of about $200 million, net of Valiant’s cash. The deal was financed with $170 million drawn ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.