USA Compression Partners LP (Texas) USAC

EnergyOil & Gas Related Equipment and ServicesUnited States of America

Last close 25.62 USD on Nov 1, 2026, +13.7% year to date

Quant rating

Quant rating C Rank 108 of 167 in Energy

Growth A 19 of 167
Valuation D 125 of 167
Quality C 101 of 167
Revisions C 107 of 167
Momentum D 124 of 167

Wall Street consensus Hold (2.80)Average target 30.80 USD +20.2%

Historical valuation

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

Key data

Market cap: –
Enterprise value: –
52-week range: 21.85 – 30.55
3-year range: 21.09 – 30.55
Dividend yield: 8.20%
Beta (5 years): 0.28
Shares outstanding: –M
Next earnings: Nov 5, 2026

About the company

USA Compression Partners, LP is a limited partnership company. The Company, through its operating subsidiaries, provides natural gas compression services to customers under fixed-term contracts in the natural gas and crude oil industries, using compression packages that it designs, engineers, owns, operates, and maintains. It operates as an independent provider of natural gas compression services in terms of total compression fleet horsepower. It also owns and operates a fleet of equipment used to provide natural gas treatment services, such as carbon dioxide and hydrogen sulfide removal, cooling, and dehydration, as well as specialized manufacturing facilities for compression units. The Company also provides compression services in unconventional resource plays throughout the United States, including the Utica, Marcellus, Permian, Denver-Julesburg, Eagle Ford, Mississippi Lime, Granite Wash, Woodford, Barnett, Haynesville, and Bakken.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	998	950	846	705	633	–
Revenue growth	5.0%	12.3%	20.1%	11.4%	−5.2%	8.4%
EPS (basic, normalized)	0.87	0.72	0.21	−0.19	−0.40	–
EPS growth	20.8%	242.9%	–	–	–	–
Gross margin	67.5%	67.5%	66.8%	67.3%	69.8%	67.8%
Net margin	10.3%	8.6%	2.4%	−2.6%	−6.1%	2.5%
ROE	–	94.5%	25.1%	6.5%	1.5%	31.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	9.5
Current ratio	1.35x
Long-term debt (mil)	2,942
Net debt (mil)	2,933
Total equity (mil)	287
Net debt / equity	10.22x
Net debt / EBITDA	4.78x

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	998	+5.0%	–	614	+6.7%	–	0.87	+20.8%	29.4x
2026	1,376	+37.9%	–	780	+27.1%	–	1.24	+42.0%	20.7x
2027	1,475	+7.2%	–	852	+9.1%	–	1.63	+32.2%	15.7x
2028	1,539	+4.3%	–	898	+5.4%	–	1.95	+19.4%	13.1x

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	1,376	0.0%	+1.5%	+5.4%	1.24	−1.4%	−3.5%	−15.2%
2027	1,475	+0.2%	+2.3%	+6.6%	1.63	−0.1%	−2.6%	−1.7%
2028	1,539	0.0%	+1.3%	+6.5%	1.95	−0.6%	−6.1%	+1.2%

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)	229	235	240	246	245	250	250	252	331	342
Sales mean (mil)	228	235	240	243	245	247	250	254	310	333
Surprise	+0.4%	+0.2%	0.0%	+1.0%	+0.2%	+1.4%	−0.1%	−0.4%	+6.9%	+2.8%
EPS reported	0.23	0.23	0.13	0.18	0.14	0.22	0.26	0.25	0.27	0.31
EPS mean	0.13	0.18	0.20	0.24	0.22	0.20	0.22	0.27	0.35	0.32
Surprise	+73.6%	+25.5%	−35.2%	−26.5%	−37.7%	+7.3%	+18.2%	−6.5%	−24.6%	−2.8%

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
USAC USA Compression Partners LP (Texas)	–	4.78x	10.3%	12.87x	20.7x	15.7x	–	–
WMB The Williams Companies, Inc.	90.9B	4.23x	21.9%	6.89x	31.0x	27.5x	14.6x	12.8x
EPD Enterprise Products Partners L.P	82.4B	3.42x	10.9%	2.72x	12.5x	11.6x	10.6x	10.1x
KMI Kinder Morgan, Inc.	75.5B	3.98x	17.9%	2.39x	21.5x	21.8x	11.9x	11.8x
TRGP Targa Resources Corp.	67.5B	3.95x	10.8%	18.47x	28.2x	25.6x	14.6x	13.3x
MPLX MPLX LP	61.0B	3.54x	37.8%	4.35x	14.0x	12.4x	11.8x	10.9x
Mean		3.98x	18.3%	7.95x	21.3x	19.1x	12.7x	11.8x
Median		3.96x	14.4%	5.62x	21.1x	18.8x	11.9x	11.8x

Technical analysis

1M+3.3%
3M+1.0%
1Y+17.6%
3Y+5.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, USA Compression Partners LP (Texas), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	998	950	846	705	633	668
Cost of revenue	324	309	281	231	191	202
Gross profit	674	642	565	474	442	465
Selling, general & administrative expenses	70.7	76.7	76.4	64.9	59.7	63.4
Research & development	–	–	–	–	–	–
Depreciation/amortization	285	265	246	237	239	239
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	14.6	10.8	10.7	3.0	2.5	628
Other operating expenses	0	0	0	0	0	0
Operating income	303	289	232	169	141	−465
Net interest income (expense)	−187	−188	−162	−138	−130	−129
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0.1	0.1	0.1	0.1	0.1	0.1
Net income before taxes	116	102	69.6	31.3	11.2	−593
Provision for taxes	4.9	2.2	1.4	1.0	0.9	1.3
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	111	99.6	68.3	30.3	10.3	−595
Extraordinary items	–	–	–	–	–	–
Net income	111	99.6	68.3	30.3	10.3	−595
EBIT, normalized	325	303	244	173	144	166
EBITDA, normalized	609	568	490	410	383	405
Basic EPS, normalized	0.87	0.72	0.21	−0.19	−0.40	–

Balance sheet in millions of USD, fiscal years

Balance sheet, USA Compression Partners LP (Texas), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	8.6	0	0	0	0	0
Receivables	82.5	89.1	95.4	83.9	113	112
Total inventory	134	134	115	93.8	85.8	84.6
Prepaid expenses	11.0	12.0	10.6	8.8	6.0	2.4
Other current assets	0	0	5.7	0	0	0
Total current assets	237	235	226	186	205	200
Property, plant & equipment	2,176	2,288	2,255	2,191	2,243	2,403
Goodwill	–	–	–	–	–	0
Intangibles	187	216	246	275	304	334
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	20.1	6.6	9.7	13.1	16.1	12.0
Total assets	2,620	2,746	2,737	2,666	2,768	2,949
Liabilities
Accounts payable	20.1	27.2	39.8	35.3	22.5	13.5
Payable/accrued	–	–	–	–	–	–
Accrued expenses	93.4	99.1	84.7	75.5	113	109
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	0.4	0.4	0.5	0.5	0.5	0.5
Other current liabilities	73.0	64.0	62.6	62.3	51.2	47.2
Total current liabilities	187	191	188	174	188	170
Long-term debt	2,525	2,504	2,337	2,108	1,974	1,928
Minority interest	–	–	–	–	–	–
Other liabilities	20.8	23.5	29.4	23.2	27.8	35.4
Total liabilities	2,732	2,718	2,554	2,305	2,190	2,134
Shareholders' equity
Preferred stock	0	169	476	477	477	477
Common stock	−113	−141	−293	−125	87.1	324
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	–	–	0	8.8	14.0	14.0
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	−113	27.8	183	361	578	815
Total liabilities & shareholders' equity	2,620	2,746	2,737	2,666	2,768	2,949

Cash flow statement in millions of USD, fiscal years

Cash flow statement, USA Compression Partners LP (Texas), fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	111	99.6	68.3	30.3	10.3	−595
Depreciation, depletion & amortization	285	265	246	237	239	239
Deferred taxes	0.5	0.6	−0.1	−0.2	0	0.5
Non-cash items	27.5	38.0	40.4	25.5	25.1	648
Changes in working capital	−29.9	−61.5	−82.8	−31.7	−8.7	0.3
Cash from operations	394	341	272	261	265	293
Investing activities
Capital expenditures	−117	−205	−239	−134	−45.2	−109
Other investing cash flows	2.3	2.8	5.9	4.3	6.0	4.0
Cash from investing	−115	−202	−233	−130	−39.2	−105
Financing activities
Financing cash flow items	−26.8	−774	−7.3	−4.0	−13.7	−5.8
Cash dividends paid	−267	−265	−258	−256	−206	−253
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	22.9	900	226	130	−6.2	71.1
Cash from financing	−271	−139	−39.3	−131	−226	−188
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	8.6	0	0	0	0	0
Free cash flow	277	136	33.4	126	220	184

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 1, 2026 after market close.