Archrock (AROC) FY2025 results: revenue $1.5 billion, up 28.7% on the year
Archrock, Inc. (AROC) reported revenue of $1.5 billion for fiscal 2025, the year ended 31 December 2025, up 28.7% on the year before. Net income was $322 million, up 87.1%, and diluted earnings per share $1.83. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.
Revenue
$1.5 billion
+28.7% on the year
FY2018FY2025
Operating margin
n/a
FY2018FY2025
Net income
$322 million
+87.1% on the year
FY2018FY2025
Diluted EPS
$1.83
+74.3% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 11 new.
Full-year revenue and EBITDA rose: Full-year 2025 revenue was $1,489.8 million against $1,157.6 million in 2024. Adjusted EBITDA was $900.9 million against $595.4 million.
Fourth-quarter net income up about 95%: Fourth-quarter net income was $116.8 million, with EPS of $0.67, against $59.8 million and $0.34 in the fourth quarter of 2024.
Discrete items lifted fourth quarter: Results also included a $22.9 million cash net benefit from prior-period sales and use tax settlements and $31.6 million of net gains on year-end asset sales. These items were not in 2025 guidance.
Adjusted EBITDA excluding discrete items: Excluding these impacts, full-year 2025 adjusted EBITDA would have been $846.4 million, against the most recent guidance range of $835 million to $850 million.
Contract operations gross margin rose to 78%: Contract operations adjusted gross margin was $256.6 million, up 28% from $200.2 million. The margin percentage was 78%, against 70% in the fourth quarter of 2024.
$ million except per share. Read moreFree 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
622
430
310
+44.8%
Capital expenditure
502
359
299
+39.9%
Free cash flow
120
70.6
11.6
+69.6%
Free cash flow margin
8.0%
6.1%
1.2%
Cash from investing
-607
-1,160
-232
Cash from financing
-18.1
734
-77.9
Depreciation and amortisation
257
193
166
+32.9%
Share-based compensation
19.0
14.6
13.0
+29.9%
Buybacks
70.2
13.3
8.9
+426.6%
Dividends paid
142
110
95.8
+28.3%
Dividend per share
$0.80
$0.67
$0.61
+19.4%
Diluted shares, weighted
175m
162m
154m
+7.6%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
1,491
1,324
871
+12.7%
Debt
2,411
2,198
1,585
+9.7%
Operating lease liabilities
10.2
12.4
12.3
-17.7%
Other liabilities
437
290
188
+50.7%
Total liabilities and equity
4,349
3,824
2,656
+13.7%
Fixed assets
3,658
3,324
2,302
+10.1%
Goodwill
125
52.2
0.0
+140.0%
Intangible assets
144
98.3
30.2
+46.5%
Cash and equivalents
1.6
4.4
1.3
-64.9%
Receivables
142
132
120
+7.4%
Inventory
110
89.7
81.8
+22.4%
Other assets
168
123
121
+36.5%
Total assets
4,349
3,824
2,656
+13.7%
10-K for the year ended 31 December 2025, filed 26 February 2026: the filing.