What Kodiak Gas Services (KGS)'s EQT Exit and Board Power Shift Means For Shareholders

Simply Wall St.2025-12-07

In early December 2025, Frontier TopCo Partnership, an affiliate of EQT Infrastructure funds, completed an underwritten secondary sale of 9,762,573 Kodiak Gas Services shares at US$34.60 each, raising...

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The sale removes EQT as a shareholder and ends its board nomination rights, potentially reshaping Kodiak’s governance and future decision-making power balance. We’ll now examine how EQT’s full exit and the loss of its board nomination rights could influence Kodiak Gas Services’ investment narrative. The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 26 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.AdvertisementKodiak Gas Services Investment Narrative RecapTo own Kodiak Gas Services, you need to believe in sustained demand for large horsepower gas compression and the company’s ability to convert that into growing cash flow despite its capital intensity and leverage. EQT’s full exit via the secondary sale looks more like a change in the shareholder register than a shift in fundamentals, so it does not materially alter the near term demand catalyst or the key risk around potential overcapacity in a capital intensive business. The recent secondary offering sits alongside a busy year of capital markets activity for Kodiak, but the most relevant context is the company’s Q3 2025 update, where management highlighted record Contract Services revenue and strong demand for compression services despite a one off Mexico related fee. That backdrop helps frame EQT’s departure as a governance and ownership change occurring while core operating conditions and utilization remain central to the Kodiak story. However, investors should also understand how Kodiak’s focus on large horsepower compression could leave it more exposed if utilization or pricing were to soften... Read the full narrative on Kodiak Gas Services (it's free!)Kodiak Gas Services' narrative projects $1.5 billion revenue and $293.4 million earnings by 2028.Uncover how Kodiak Gas Services' forecasts yield a $44.20 fair value, a 20% upside to its current price.Exploring Other PerspectivesKGS Community Fair Values as at Dec 2025 Three members of the Simply Wall St Community see fair value for Kodiak between US$44.20 and about US$135.92, showing how far apart individual views can be. Against that wide range, the key reliance on robust Permian and broader gas driven compression demand means readers may want to weigh how concentrated this growth engine is for Kodiak’s longer term performance.Explore 3 other fair value estimates on Kodiak Gas Services - why the stock might be worth over 3x more than the current price!Build Your Own Kodiak Gas Services NarrativeDisagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.A great starting point for your Kodiak Gas Services research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.Our free Kodiak Gas Services research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Kodiak Gas Services' overall financial health at a glance.Curious About Other Options?These stocks are moving-our analysis flagged them today. Act fast before the price catches up:Trump's oil boom is here - pipelines are primed to profit. Discover the 22 US stocks riding the wave.AI is about to change healthcare. These 30 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.Rare earth metals are the new gold rush. Find out which 36 stocks are leading the charge.  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.Valuation is complex, but we're here to simplify it.Discover if Kodiak Gas Services might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. 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