FLOC Flowco Holdings Inc.

Overview and Growth

Fiscal 2025 results for Flowco Holdings Inc. combined $759.72M of revenue with net income of $41.40M and an operating cash inflow of $294.37M. The $759.72M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $535.28M in fiscal 2024, revenue recorded a 41.9% year-over-year increase. The company reported diluted EPS of $1.24, adding a shareholder-level measure to the absolute income figures considered below. Asset turnover was 0.46x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $413.17M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross profit represented 54.4% of revenue, showing how much of the top line remained after direct costs. The reported operating result was $149.01M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 19.6% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $41.40M, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 5.4%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $130.81M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. The pretax margin was 17.2%, relating income before taxes directly to revenue. The company recognized an income-tax benefit of $842.00K, increasing after-tax earnings relative to the pretax result. Relative to positive pretax income, the tax benefit measured 0.6%. The relationship between net income and period-end equity was 18.1%, indicating the profitability achieved on book capital.

Liquidity and Capital Structure

Total assets were $1.65B, supported by $288.43M of liabilities and $228.63M of shareholder equity. Current assets were $260.19M against $78.01M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 3.34x, leaving a positive buffer for near-term obligations. The company held $4.52M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 5.8% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $167.82M, establishing the amount of borrowing carried within the company’s capital structure. Against book equity, debt measured 0.73x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 10.2%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 17.5%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 0.3%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 3.6% higher than fiscal 2024 assets of $1.59B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

Cash flow from operations was $294.37M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 7.11x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $127.29M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 43.2%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $167.08M of positive free cash flow for the period. Free cash flow represented 22.0% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 10.1%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.