Archrock, Inc. AROC

EnergyOil & Gas Related Equipment and ServicesUnited States of America

Last close 30.34 USD on Nov 2, 2026, +18.9% year to date

Quant rating

Quant rating B Rank 66 of 167 in Energy

Growth B 36 of 167
Valuation B 50 of 167
Quality B 33 of 167
Revisions C 110 of 167
Momentum C 103 of 167

Wall Street consensus Buy (1.88)Average target 42.22 USD +39.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.3B
Enterprise value: 7.7B
52-week range: 22.88 – 42.23
3-year range: 13.36 – 42.23
Dividend yield: 2.90%
Beta (5 years): 0.93
Shares outstanding: 175M
Next earnings: Nov 2, 2026

About the company

Archrock, Inc. is an energy infrastructure company with a primary focus on midstream natural gas compression. The Company is a provider of natural gas compression services to customers in the energy industry throughout the United States. It is a supplier of aftermarket services to customers that own compression equipment. Its segments include Contract Operations and Aftermarket Services. The Contract Operations business is comprised of its owned fleet of natural gas compression equipment that it uses to provide operations services to its customers. The Aftermarket Services business provides a full range of services to support the compression needs of its customers that own compression equipment, including operations, maintenance, overhaul and reconfiguration services and sales of parts and components. The Company provides comprehensive contract operations services, such as personnel, equipment, tools, materials and supplies to meet its customer's natural gas compression needs.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,490	1,158	990	846	781	–
Revenue growth	28.7%	16.9%	17.1%	8.2%	−10.7%	11.2%
EPS (basic, normalized)	1.83	1.05	0.67	0.29	0.18	–
EPS growth	74.3%	56.7%	131.0%	61.1%	–	–
Gross margin	65.8%	60.4%	54.7%	50.4%	54.1%	57.1%
Net margin	21.4%	14.7%	10.4%	5.1%	3.5%	11.0%
ROE	22.9%	15.7%	12.1%	5.1%	3.1%	11.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	2.0
Current ratio	1.39x
Long-term debt (mil)	2,348
Net debt (mil)	2,346
Total equity (mil)	1,552
Net debt / equity	1.51x
Net debt / EBITDA	2.60x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,490	+28.7%	5.1x	901	+55.0%	8.5x	1.83	+74.3%	16.6x
2026	1,518	+1.9%	5.0x	875	−2.8%	8.8x	1.72	−5.9%	17.6x
2027	1,634	+7.6%	4.7x	950	+8.5%	8.1x	2.15	+24.8%	14.1x
2028	1,760	+7.7%	4.4x	1,041	+9.6%	7.4x	2.55	+18.8%	11.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,518	0.0%	−2.6%	−2.8%	1.72	+0.1%	−8.7%	−11.7%
2027	1,634	0.0%	−1.6%	−0.7%	2.15	−0.5%	−5.0%	−1.5%
2028	1,760	0.0%	−2.0%	+0.1%	2.55	−0.6%	−5.9%	+0.3%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	268	271	292	326	347	383	382	377	374	371
Sales mean (mil)	261	271	286	331	343	367	378	379	380	391
Surprise	+3.1%	0.0%	+2.1%	−1.3%	+1.3%	+4.4%	+1.1%	−0.5%	−1.5%	−5.1%
EPS reported	0.26	0.23	0.22	0.34	0.41	0.39	0.40	0.67	0.41	0.38
EPS mean	0.22	0.25	0.27	0.30	0.38	0.37	0.40	0.41	0.46	0.47
Surprise	+16.4%	−6.8%	−17.7%	+12.7%	+7.1%	+5.3%	−0.8%	+64.6%	−11.7%	−19.1%

Peer comparison Oil & Gas Related Equipment and Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
AROC Archrock, Inc.	5.3B	2.60x	21.4%	3.43x	17.6x	14.1x	8.8x	8.1x
WMB The Williams Companies, Inc.	87.1B	4.23x	21.9%	6.60x	29.8x	26.4x	14.2x	12.4x
EPD Enterprise Products Partners L.P	80.7B	3.42x	10.9%	2.66x	12.2x	11.4x	10.4x	10.0x
KMI Kinder Morgan, Inc.	72.9B	3.98x	17.9%	2.31x	20.8x	21.1x	11.6x	11.5x
TRGP Targa Resources Corp.	63.2B	3.95x	10.8%	17.28x	26.4x	23.9x	13.9x	12.7x
MPLX MPLX LP	59.8B	3.54x	37.8%	4.26x	13.7x	12.2x	11.7x	10.8x
Mean		3.62x	20.1%	6.09x	20.1x	18.2x	11.7x	10.9x
Median		3.74x	19.7%	3.84x	19.2x	17.6x	11.6x	11.1x

Technical analysis

1M0.0%
3M−14.6%
1Y+23.4%
3Y+142.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Archrock, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,490	1,158	990	846	781	875
Cost of revenue	509	459	449	419	359	377
Gross profit	980	699	541	426	423	498
Selling, general & administrative expenses	148	139	117	117	107	105
Research & development	–	–	–	–	–	–
Depreciation/amortization	257	193	166	164	179	193
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	33.5	27.1	13.8	21.4	24.3	192
Other operating expenses	0.4	1.6	1.1	1.8	−4.7	−1.4
Operating income	542	338	244	121	117	9.1
Net interest income (expense)	−165	−124	−111	−101	−108	−106
Gain (loss) on sale of assets	47.1	17.9	10.2	40.5	30.3	10.6
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	424	232	142	60.6	39.0	−86.0
Provision for taxes	101	60.1	37.2	16.3	10.7	−17.5
Minority interest	–	–	–	–	–	0
Equity in affiliates	−0.5	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	322	172	105	44.3	28.2	−68.4
Extraordinary items	–	–	–	–	0	0
Net income	322	172	105	44.3	28.2	−68.4
EBIT, normalized	575	365	257	143	141	201
EBITDA, normalized	832	558	424	307	320	394
Basic EPS, normalized	1.83	1.05	0.67	0.29	0.18	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Archrock, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1.6	4.4	1.3	1.6	1.6	1.1
Receivables	184	132	124	138	105	104
Total inventory	110	89.7	81.8	84.6	72.9	63.7
Prepaid expenses	–	–	–	–	–	–
Other current assets	9.1	6.5	6.0	8.2	7.2	12.8
Total current assets	304	233	213	232	187	182
Property, plant & equipment	3,672	3,339	2,316	2,216	2,244	2,409
Goodwill	125	52.2	–	–	–	–
Intangibles	144	98.3	30.2	37.1	47.9	61.5
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	104	101	96.5	114	111	127
Total assets	4,349	3,824	2,656	2,599	2,590	2,780
Liabilities
Accounts payable	43.7	57.6	61.0	64.3	38.9	30.8
Payable/accrued	–	–	–	–	–	–
Accrued expenses	128	116	78.2	66.8	71.3	60.8
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	25.6	15.4	12.9	17.4	15.0	20.1
Total current liabilities	197	189	152	149	125	112
Long-term debt	2,411	2,198	1,585	1,548	1,531	1,689
Minority interest	–	–	–	–	–	–
Other liabilities	250	114	47.9	41.2	42.4	43.6
Total liabilities	2,858	2,501	1,785	1,738	1,699	1,844
Shareholders' equity
Preferred stock	–	0	–	0	0	0
Common stock	1.8	1.9	1.6	1.6	1.6	1.6
Additional paid-in capital	3,877	3,881	3,471	3,457	3,440	3,425
Retained earnings (accumulated deficit)	−2,257	−2,438	−2,500	−2,509	−2,463	−2,402
Treasury stock	−130	−121	−101	−88.6	−86.1	−83.7
Other equity	0	0	0	0	−1.0	−5.0
Total equity	1,491	1,324	871	861	891	936
Total liabilities & shareholders' equity	4,349	3,824	2,656	2,599	2,590	2,780

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Archrock, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	322	172	105	44.3	28.2	−68.4
Depreciation, depletion & amortization	257	193	166	164	179	193
Deferred taxes	97.8	58.1	35.7	15.2	10.4	−17.8
Non-cash items	4.2	31.8	31.3	4.2	29.4	209
Changes in working capital	−58.9	−25.8	−28.0	−24.5	−9.5	19.1
Cash from operations	622	430	310	203	237	335
Investing activities
Capital expenditures	−502	−359	−299	−240	−97.9	−140
Other investing cash flows	−104	−801	66.1	109	114	55.3
Cash from investing	−607	−1,160	−232	−131	16.1	−85.0
Financing activities
Financing cash flow items	−3.0	−12.3	−6.0	−1.3	−6.8	−7.5
Cash dividends paid	−142	−110	−95.8	−90.3	−89.3	−88.8
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	127	856	23.9	19.1	−157	−156
Cash from financing	−18.1	734	−77.9	−72.5	−253	−253
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−2.9	3.1	−0.2	0	0.5	−2.6
Free cash flow	120	70.6	11.6	−36.4	140	195

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.