# Archrock, Inc. (AROC)

> Source: Nexqual · https://nexqual.com/AROC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Archrock, Inc. (AROC), nexqual.com/AROC" · informational, not investment advice.

**Price:** USD 28.39 (-4.64% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 29.77 · day 27.97–29.71 · 52w 22.88–42.23 · market cap $4.98B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.50B, net income $329M (21.8% margin), free cash flow $291M (SEC filings).
- Valuation: P/E 15.2x (avg 20.1x at the last 3 fiscal year-ends), net debt $2.35B.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $5.9M; 3 not under a Rule 10b5-1 plan ($5.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.57 on a 1–5 scale) (7 analysts), mean target USD 42.38 (range 40–46).
- Total return with dividends: 1Y +14.6% vs S&P 500 +14.9%; 5Y +314.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-27, EPS estimate USD 0.47, revenue estimate $386M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $781M | $846M | $990M | $1.16B | $1.49B | $1.50B |
| Gross profit | — | $262M | $375M | $506M | $724M | — |
| Net income | $28.2M | $44.3M | $105M | $172M | $322M | $329M |
| EPS (diluted) | $0.18 | $0.28 | $0.67 | $1.05 | $1.83 | — |
| Free cash flow | $140M | -$36.4M | $11.6M | $70.6M | $120M | $291M |
| Gross margin | — | 31.0% | 37.9% | 43.7% | 48.6% | — |
| Net margin | 3.6% | 5.2% | 10.6% | 14.9% | 21.6% | 21.8% |
| Revenue growth | -10.7% | +8.2% | +17.1% | +16.9% | +28.7% | — |
| Cash + short-term investments | $1.6M | $1.6M | $1.3M | $4.4M | $1.6M | — |
| Total debt | $1.53B | $1.55B | $1.58B | $2.20B | $2.41B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 15.2x · P/S 3.3x · EV/Sales 4.9x · P/FCF 17.1x · P/B 3.2x · FCF yield 5.85% · Earnings yield 6.60% · Dividend yield (paid, TTM) 3.06% · Buyback yield (TTM) 0.92% · Net debt $2.35B · EV $7.32B
P/E at fiscal year-ends: Dec 2025 14.1x, Dec 2024 23.5x, Dec 2023 22.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-18 | Ingersoll Jason | SENIOR VICE PRESIDENT | 33,000 | $1.3M | 10.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-18 | Aron Doug S | SR VICE PRESIDENT, CFO | 35,000 | $1.3M | 8.9% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-14 | Aron Doug S | SR VICE PRESIDENT, CFO | 90,000 | $3.3M | 18.6% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.57 on a 1–5 scale), 7 analysts; mean target USD 42.38 (low 40, high 46).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | JP Morgan | Target lowered | Overweight | $42 → $41 |
| 2026-08-17 | Evercore ISI Group | Target lowered | Outperform | $41 → $40 |
| 2026-08-17 | RBC Capital | Target raised | Outperform | $44 → $46 |
| 2026-08-06 | Wells Fargo | Target lowered | Overweight | $43 → $40 |
| 2026-07-21 | RBC Capital | Target raised | Outperform | $41 → $44 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +14.6% | +314.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +14.7% | +32.8% |
| Volatility (annualized) | 31.9% | 36.9% |
| Max drawdown | -31.9% (Jun 2026→Oct 2026) | -35.9% (May 2022→Sep 2022) |

## Peers (Oil & Gas Equipment & Services)
KGS (Kodiak Gas Services, Inc.) USD 44.07 -10.10% · WFRD (Weatherford International plc) USD 81.18 -5.04% · WHD (Cactus, Inc. Class A Common Sto) USD 60.38 -5.91% · SEI (Solaris Energy Infrastructure, ) USD 58.61 -15.51% · TDW (Tidewater Inc.) USD 79.61 -2.10% · NOV (NOV Inc.) USD 18.76 -2.65%

## More
Full page: https://nexqual.com/AROC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in AROC's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1389050/000138905026000009/aroc-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Exterran | "Subject to the provisions of our tax matters agreement with Exterran Corporation, both parties agreed to indemnify the primary obligor of any return for tax periods beginning before and ending before or after the Spin–of…" |

Other companies that name AROC in their own reports (relationship from AROC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Flowco Holdings Inc. (FLOC) | 10-K 2026-02-26 | "On July 1, 2025, the Company entered into an asset purchase agreement with Archrock, Inc. ("Archrock"), pursuant to which the Company acquired certain HPGL and VRU systems, related intangible assets, …" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Contract Operations | $329.3M | 88.7% | +3.4% |
| Aftermarket Services | $42.0M | 11.3% | -35.2% |
| Total revenue | $371.2M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Horsepower Group Three | $117.4M | 31.6% | +13.8% |
| Horsepower Group Two | $106.2M | 28.6% | -0.1% |
| Horsepower Group One | $105.4M | 28.4% | -3.0% |
| Service | $22.9M | 6.2% | -30.8% |
| Over Counter Parts & Component Sales | $19.1M | 5.1% | -36.1% |
| Product & Service Other | $131,000 | 0.0% | -11.5% |
| Total revenue | $371.2M | 100% | — |

## Company outlook (8-K filed 2026-08-05)

- "This demand outlook supports reaffirming 2026 growth capital expenditures of $250 million to $275 million and a multi-year growth capital investment opportunity ranging from $1.4 billion to $1.6 billion cumulatively from 2027 through 2030. ​ "We are tightening our full-year adjusted EBITDA guidance to primarily reflect near-term costs, including lube oil and timing impacts."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.47 | $0.51 | -7.7% | $386.3M | 4 |
| Next quarter (ends 2026-12-31) | $0.49 | $0.52 | -5.1% | $388.1M | 4 |
| Current fiscal year (ends 2026-12-31) | $1.83 | $1.98 | -7.6% | $1.52B | 4 |
| Next fiscal year (ends 2027-12-31) | $2.18 | $2.40 | -9.4% | $1.64B | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-27): ±11.6%; last 8 reports averaged ±2.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 45.6% | ±11.6% |
| 2026-12-18 | 56 | 42.2% | ±14.4% |
| 2027-02-19 | 119 | 39.3% | ±18.9% |
| 2027-05-21 | 210 | 39.9% | ±24.8% |