USA Compression Partners, LP USAC

Utilities SIC 4922 - Natural Gas Transmission NAICS Transportation and Warehousing › Pipeline Transportation › Pipeline Transportation of Natural Gas derived NYSE

USA Compression Partners, LP (the "Partnership") is a growth-oriented Delaware limited partnership. We are managed by our general partner, USA Compression GP, LLC (the "General Partner"), which is wholly owned by Energy Transfer.

We believe that we are one of the largest independent providers of natural gas compression services in the U.S. in terms of total compression fleet horsepower. We have been providing compression services since 1998 and completed our initial public offering in January 2013. As of December 31, 2025, we had 3.9 million horsepower in our fleet. On January 12, 2026, we acquired all of the equity interests in J-W Energy Company ("J-W Energy") and its subsidiary, J-W Power Company ("J-W Power"), which acquisition we refer to as the J-W Power Acquisition. An additional 1.0 million horsepower was added to our fleet through the J-W Power Acquisition. Please see "Recent Developments" below for additional information on the J-W Power Acquisition.

Last close 25.05 2026-10-23
Market cap $3.63B 2026-06-30 share count
52-week range 21.85 - 30.55

Valuation FY2025 figures against the last close

P/S3.6x
P/E—
P/FCF13.1x
EV/EBITDA10.9x
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $998.1M$950.4M$846.2M$704.6M$632.6M$667.7M$698.4M$584.4M$276.7M$263.9M
SG&A $66.3M$72.7M$72.7M$61.3M$56.1M$60.0M$64.4M$69.0M$24.9M$22.7M
Total operating expenses $691.6M$656.0M$614.2M$535.3M$491.8M$1.13B$530.0M$519.0M$539.3M$290.9M
Operating income $306.5M$294.4M$232.0M$169.3M$140.9M-$464.9M$168.4M$65.3M-$262.7M-$27.0M
Interest expense $187.4M$193.5M$169.9M$138.1M$129.8M$128.6M$127.1M$78.4M$0$21.1M
Pre-tax income $116.2M$101.8M$69.6M$31.3M$11.2M-$593.4M$41.3M-$13.0M-$262.9M-$27.1M
Income tax $4.9M$2.2M$1.4M$1.0M$874.0K$1.3M$2.2M$2.5M$1.8M$163.0K
Net income $111.3M$99.6M$68.3M$30.3M$10.3M-$594.7M$39.1M-$10.6M-$264.7M-$26.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $8.6M$14.0K$11.0K$35.0K$0$2.0K$10.0K$99.0K$4.0M$14.2M
Receivables ———$83.8M$68.2M$63.7M$80.3M$75.6M$32.7M$32.2M
Inventory $134.5M$133.9M$114.7M$93.8M$85.8M$84.6M$91.9M$89.0M$33.2M$29.6M
Total current assets $236.6M$235.0M$226.4M$186.4M$205.0M$199.6M$230.9M$217.7M$74.2M$73.0M
Property, plant and equipment ——————$2.48B$2.52B$1.19B$1.27B
Goodwill —————$0$619.4M$619.4M$253.4M$35.9M
Other intangibles $186.9M$216.3M$245.7M$275.0M$304.4M$333.8M$363.2M$392.6M$198.2M$75.2M
Total assets $2.62B$2.75B$2.74B$2.67B$2.77B$2.95B$3.73B$3.77B$1.72B$1.47B
Accounts payable ——$39.8M$35.3M$22.5M$13.5M$21.7M$24.2M$1.4M$13.1M
Short-term debt $0$0$0$0$0$0$0$0——
Total current liabilities $186.9M$190.7M$187.5M$173.7M$187.6M$170.3M$189.4M$149.6M$47.1M$56.4M
Long-term debt $2.52B$2.50B$2.34B$2.11B$1.97B$1.93B$1.85B$1.76B$782.9M$685.4M
Total liabilities $2.73B$2.72B$2.55B$2.30B$2.19B$2.13B$2.07B$1.92B$54.1M—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $394.3M$341.3M$271.9M$260.6M$265.4M$293.2M$300.6M$226.3M$136.0M$130.1M
Depreciation and amortisation $255.4M$235.4M$216.7M$207.3M$209.4M$209.6M$202.0M$186.5M$146.0M$134.6M
Stock-based compensation $4.3M$16.6M$22.2M$15.9M$15.5M$8.4M$10.8M$11.7M$4.0M$3.5M
Capital expenditure $117.3M$204.9M$238.5M$134.2M$45.2M$109.1M$171.1M$266.6M$157.3M$61.6M
Investing cash flow -$115.0M-$202.0M-$232.7M-$129.9M-$39.2M-$105.1M-$144.5M-$779.7M-$142.5M-$36.8M
Financing cash flow -$270.8M-$139.3M-$39.3M-$130.6M-$226.2M-$188.1M-$156.2M$549.4M-$3.7M-$90.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001522727-26-000015.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B -500M 0 500M 1B Revenue, FY2016: 263.9M Net income, FY2016: -26.9M Revenue, FY2017: 276.7M Net income, FY2017: -264.7M Revenue, FY2018: 584.4M Net income, FY2018: -10.6M Revenue, FY2019: 698.4M Net income, FY2019: 39.1M Revenue, FY2020: 667.7M Net income, FY2020: -594.7M Revenue, FY2021: 632.6M Net income, FY2021: 10.3M Revenue, FY2022: 704.6M Net income, FY2022: 30.3M Revenue, FY2023: 846.2M Net income, FY2023: 68.3M Revenue, FY2024: 950.4M Net income, FY2024: 99.6M Revenue, FY2025: 998.1M Net income, FY2025: 111.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $263.9M $276.7M $584.4M $698.4M $667.7M $632.6M $704.6M $846.2M $950.4M $998.1M
Gross profit — — — — — — — — — —
Net income -$26.9M -$264.7M -$10.6M $39.1M -$594.7M $10.3M $30.3M $68.3M $99.6M $111.3M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Shareholder rights changed Item 3.03
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Charter or fiscal year changed Item 5.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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