debt_leverage_profile
0.00x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
Modest impact; NGS carries relatively low debt (~$30M credit facility), so 200bps rate rise increases annual interest ~$600K, ~2-3% of EBITDA
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Compressor component manufacturing concentrated in U.S. Midwest/Texas; steel inputs exposed to tariff risk; no major geopolitical chokepoints given domestic operations
Inferred
Agent_Inference
international_expansion_readiness
null
Inferred
Agent_Inference
geographic_footprint
Operates exclusively in U.S. domestic oilfield (Permian, Mid-Continent, Appalachia); zero international revenue; no sovereign currency devaluation exposure
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Crude Oil, Natural Gas, Coal, Refined Petroleum Products, Uranium, Steel (equipment); geopolitical: OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Ariel Corporation and GE/Exterran supply critical compressor components; Ariel likely exceeds 30% of equipment input cost with limited near-term substitutability
Inferred
Agent_Inference
business_model_type_primary
Asset-heavy equipment rental/service; no material cloud infrastructure dependency; AWS/GCP termination would affect back-office only, not core operations
Inferred
Agent_Inference
business_model_type_secondary
Field service and maintenance contracts complement compression rental; operational continuity entirely independent of cloud provider relationships
Inferred
Agent_Inference
switching_cost_profile
Minimal API coupling risk; operations are physical compression rentals; no material third-party API integrations critical to revenue delivery
Inferred
Agent_Inference
howey_test_risk_index
Fails Howey Test; revenue model is equipment rental and service contracts for physical compressors — not an investment contract or securities offering
Inferred
Agent_Inference
regulatory_burden_tier
High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Minimal GDPR/CCPA exposure; customer base is U.S. E&P companies; limited personal data collection; low compliance burden estimated under $500K annually
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; fragmented compression rental market with Archrock, USA Compression, and others; NGS holds sub-5% market share nationally
Inferred
Agent_Inference
regulatory_exposure_profile
High burden; regimes: EPA, FERC, DOE, CFTC, OSHA, SEC; Accelerating emissions mandates and methane rules threaten capex economics.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~85-90% recurring via multi-month compression rental contracts; ~10-15% transactional from equipment sales and one-time service fees
Inferred
Agent_Inference
monetization_vector
Monthly rental fees per compression horsepower deployed; ~$17-20/Mcf-equivalent monthly rate per unit; volume-driven recurring revenue
Inferred
Agent_Inference
pricing_architecture
Per-horsepower monthly rental pricing; contracts typically 6-24 months; pricing vulnerable to E&P capex cuts but protected by high relocation costs for installed equipment
Inferred
Agent_Inference
pricing_power_rating
Moderate; NGS can push 3-5% annual rate increases in tight market but faces pushback during oil price downturns; rated 6/10 pricing power
Inferred
Agent_Inference
target_gross_margin_bracket
Gross margins historically 55-65%; compression rental gross margins ~60%; equipment sales drag overall margin toward 55% blended
Inferred
Agent_Inference
churn_vulnerability_index
No free-rider problem; physical asset deployment requires contractual commitment; churn risk is contract non-renewal at ~15-20% annual equipment redeployment rate
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is sublinear to headcount; field technician additions needed for geographic expansion but utilization gains allow ~1.5x revenue per technician at scale
Inferred
Agent_Inference
marginal_cost_of_growth
Primary marginal cost is capital (compressor unit purchase ~$1,500-2,000/HP); incremental labor and maintenance costs are modest relative to revenue per unit
Inferred
Agent_Inference
franchise_compliance_risk
null
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC rises as greenfield E&P relationships become scarcer; current estimated CAC ~$50-100K per major account; LTV/CAC likely 8-12x
Inferred
Agent_Inference
network_effect_present
No network effects; each compression rental is independent; value does not increase with scale of user base; purely asset-utilization business model
Inferred
Agent_Inference
asset_efficiency_ratio
4.5% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 3 moderate vulnerability; compression demand tied to natural gas production volumes which can fall 20-30% in severe commodity downturns as seen in 2015-16
Inferred
Agent_Inference
customer_segment_primary
U.S. independent E&P companies (oil and gas producers); top 10 customers likely represent 40-50% of revenue creating meaningful concentration risk
Inferred
Agent_Inference
customer_segment_secondary
Midstream gathering and processing operators as secondary segment; less concentrated but smaller revenue share (~15-20% of total rental revenue)
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "19-0000 Life, Physical, and Social Science Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations", "53-0000 Transportation and Material Moving Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.33 (HIL — ~33% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
70.5% CapEx / Revenue (High-CapEx Infrastructure)
High
SEC-XBRL
sec_cik
0001084991
High
SEC-EDGAR
ticker
NGS
High
SEC-EDGAR