USA Compression Partners LP (USAC) financial statements
USA Compression Partners LP reported revenue of $998M in fiscal 2025, up 17.2% a year over 9 years.
Net income was $111M and the operating margin 30.7%, against -11.3% in 2016.
Free cash flow was $277M.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from USA Compression Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $239M | $249M | $584M | $698M | $668M | $633M | $705M | $846M | $950M | $998M |
| Cost of revenue | — | $125M | $215M | $227M | $206M | $194M | $234M | $285M | $313M | $329M |
| Gross profit | — | $124M | $370M | $471M | $462M | $438M | $470M | $561M | $638M | $669M |
| Selling, general and admin | $23M | $25M | $69M | $64M | $60M | $56M | $61M | $73M | $73M | $66M |
| Operating income | -$27M | -$263M | $65M | $168M | -$465M | $141M | $169M | $232M | $294M | $307M |
| Interest expense | $21M | $0 | $78M | $127M | $129M | $130M | $138M | $170M | $193M | $187M |
| Pre-tax income | -$27M | -$263M | -$13M | $41M | -$593M | $11M | $31M | $70M | $102M | $116M |
| Income tax | -$163,000 | $2M | -$2M | $2M | $1M | $874,000 | $1M | $1M | $2M | $5M |
| Net income | -$27M | -$265M | -$11M | $39M | -$595M | $10M | $30M | $68M | $100M | $111M |
| Gross margin | — | 49.8% | 63.3% | 67.5% | 69.2% | 69.3% | 66.7% | 66.4% | 67.1% | 67.1% |
| Operating margin | -11.3% | -105.3% | 11.2% | 24.1% | -69.6% | 22.3% | 24.0% | 27.4% | 31.0% | 30.7% |
| Net margin | -11.3% | -106.2% | -1.8% | 5.6% | -89.1% | 1.6% | 4.3% | 8.1% | 10.5% | 11.2% |
Balance sheet
Fiscal years, from USA Compression Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $4M | $99,000 | $10,000 | $2,000 | $0 | $35,000 | $11,000 | $14,000 | $9M |
| Receivables | $32M | $33M | $76M | $80M | $64M | $68M | $84M | — | — | — |
| Inventory | $30M | $33M | $89M | $92M | $85M | $86M | $94M | $115M | $134M | $134M |
| Total current assets | $73M | $74M | $218M | $231M | $200M | $205M | $186M | $226M | $235M | $237M |
| Property, plant and equipment | $1.3B | $1.2B | $2.5B | $2.5B | $2.4B | $2.2B | $2.2B | $2.2B | $2.3B | $2.2B |
| Goodwill | $36M | $253M | $619M | $619M | $0 | — | — | — | — | $0 |
| Total assets | $1.5B | $1.7B | $3.8B | $3.7B | $2.9B | $2.8B | $2.7B | $2.7B | $2.7B | $2.6B |
| Total current liabilities | $56M | $47M | $150M | $189M | $170M | $188M | $174M | $188M | $191M | $187M |
| Long-term debt | $685M | $783M | $1.8B | $1.9B | $1.9B | $2.0B | $2.1B | $2.3B | $2.5B | $2.5B |
| Total liabilities | — | $54M | $1.9B | $2.1B | $2.1B | $2.2B | $2.3B | $2.6B | $2.7B | $2.7B |
| Net debt | $671M | $779M | $1.8B | $1.9B | $1.9B | $2.0B | $2.1B | $2.3B | $2.5B | $2.5B |
Cash flow
Fiscal years, from USA Compression Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $130M | $136M | $226M | $301M | $293M | $265M | $261M | $272M | $341M | $394M |
| Capital spending | $62M | $157M | $267M | $171M | $109M | $45M | $134M | $239M | $205M | $117M |
| Free cash flow | $68M | -$21M | -$40M | $129M | $184M | $220M | $126M | $33M | $136M | $277M |
| Stock-based compensation | $4M | $4M | $12M | $11M | $8M | $16M | $16M | $22M | $17M | $4M |
| Net borrowing | -$44M | $98M | — | — | — | — | — | — | — | — |
| Free cash flow margin | 28.6% | -8.6% | -6.9% | 18.5% | 27.6% | 34.8% | 17.9% | 3.9% | 14.4% | 27.8% |
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Open USAC in InvestinglyQuestions
What was USA Compression Partners LP's revenue in 2025?
$998M in fiscal 2025, from its 10-K filing.
How much free cash flow does USA Compression Partners LP generate?
$277M in fiscal 2025 (operating cash flow minus capital spending).
From USA Compression Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.