Archrock (AROC) FY2024 results: revenue $1.2 billion, up 16.9% on the year

Archrock, Inc. (AROC) reported revenue of $1.2 billion for fiscal 2024, the year ended 31 December 2024, up 16.9% on the year before. Net income was $172 million, up 64.0%, and diluted earnings per share $1.05. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue

$1.2 billion

+16.9% on the year

FY2017FY2024

Operating margin

n/a

FY2017FY2024

Net income

$172 million

+64.0% on the year

FY2017FY2024

Diluted EPS

$1.05

+56.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,158	990	846	+16.9%
Cost of revenue	459	449	419	+2.1%
Gross profit	506	375	262	+34.9%
Gross margin	43.7%	37.9%	31.0%
Selling, general and administrative	139	117	117	+19.3%
Interest expense	124	111	101	+10.9%
Pre-tax income	232	142	60.6	+63.4%
Income tax	60.1	37.2	16.3	+61.5%
Effective tax rate	25.9%	26.2%	26.9%
Net income	172	105	44.3	+64.0%
Net margin	14.9%	10.6%	5.2%
Diluted EPS	$1.05	$0.67	$0.28	+56.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	430	310	203	+38.5%
Capital expenditure	359	299	240	+20.2%
Free cash flow	70.6	11.6	-36.4	+510.6%
Free cash flow margin	6.1%	1.2%	-4.3%
Cash from investing	-1,160	-232	-131
Cash from financing	734	-77.9	-72.5
Depreciation and amortisation	193	166	164	+16.2%
Share-based compensation	14.6	13.0	11.9	+12.7%
Buybacks	13.3	8.9	2.4	+50.5%
Dividends paid	110	95.8	90.3	+15.2%
Dividend per share	$0.67	$0.61	$0.58	+9.8%
Diluted shares, weighted	162m	154m	153m	+5.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,324	871	861	+52.0%
Debt	2,198	1,585	1,548	+38.7%
Operating lease liabilities	12.4	12.3	14.9	+1.2%
Other liabilities	290	188	175	+54.4%
Total liabilities and equity	3,824	2,656	2,599	+44.0%
Fixed assets	3,324	2,302	2,199	+44.4%
Goodwill	52.2	0.0	n/a
Intangible assets	98.3	30.2	37.1	+225.6%
Cash and equivalents	4.4	1.3	1.6	+230.3%
Receivables	132	120	112	+10.7%
Inventory	89.7	81.8	84.6	+9.7%
Other assets	123	121	164	+2.0%
Total assets	3,824	2,656	2,599	+44.0%

10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.