Flowco Holdings Inc. Class A Common Stock (FLOC)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett-Graham investor, I see Flowco as a cyclical supplier to oil and gas, not a wide-moat franchise. It rents, services, and sells artificial lift and emissions-management equipment. Revenue grew from $74.5M in FY2023 to $258.6M in FY2024 to $341.8M in FY2025, but net income fell from $80.2M in FY2024 to $41.4M in FY2025. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $103.2M and net income $12.5M, up from $91.1M and $5.5M in fiscal Q2 2025, so recent profitability improved. FairStock's calculations at the 2026-10-13 close of $19.47 show P/E 14.75, P/B 2.35, FCF yield 8.3%, ROE 10.15%, ROCE 5.68%, D/E 0.25, and Altman Z 3.01. The balance sheet looks reasonable, and trailing free cash flow of $207.3M is attractive. But ROCE is modest, and FairStock's Graham Number of $15.71 implies the price is about 24% above that conservative value. PEG 0.72 and EV/EBITDA 8.45 suggest the market is not paying a huge multiple if earnings hold, though cyclicality makes 'if' important. The dividend yield of 1.78% is modest. I would want to see whether the Q2 2026 improvement is durable and whether margins can recover while the company invests in natural gas technologies. This is a fair-weather cash generator, not a bargain with a margin of safety.

In plain English: Flowco supplies equipment and services that help oil and gas wells keep producing and reduce emissions. The business is growing, but profits have been uneven: fiscal 2025 net income was lower than fiscal 2024 even though revenue rose, while fiscal Q2 2026 improved versus a year earlier. At $19.47 on 2026-10-13, the price looks slightly rich compared with a conservative value estimate, though cash flow is solid.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer