Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| USA Compression Partners, L.P.USAC · utilities | |
|---|---|
| Grade |  Bsecond fifth of 148 graded peers; percentile 27.2, sampling error 3.6 points; lower is stronger |
| Rank | 41 of 148 |
| Profitability | A/Bpercentile 18.3 |
| Solvency | Cpercentile 46.2 |
| Growth and financing | C/Dpercentile 57.6 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $2.6B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 9 of 14 |
| Graded from | filings received through Feb 17, 2026234 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $25.162026-10-08; market equity $3.6B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Feb 17, 2026; the document on sec.gov.
USA Compression Partners, LP (the “Partnership”) is a growth-oriented Delaware limited partnership. We are managed by our general partner, USA Compression GP, LLC (the “General Partner”), which is wholly owned by Energy Transfer. All references in this section to the Partnership, as well as the terms “our,” “we,” “us,” and “its” refer to USA Compression Partners, LP, together with its consolidated subsidiaries, unless the context otherwise requires or where otherwise indicated. We believe that we are one of the largest independent providers of natural gas compression services in the U.S. in terms of total compression fleet horsepower.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 18.3 | |||||||
| Gross profitability | not computable | 17.5% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | 12.3% | [3-11] | 6.0% | 12.2 | 91 | 2025-12-31 | |
| Accruals ratio | (10.5%) | [1,12-14] | (5.0%) | 24.4 | 271 | 2025-12-31 | |
| Gross margin stability, five years | not computable | 4.6 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 46.2 | |||||||
| Twelve-month failure probability | not computable | 0.06% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | not computable | 1.48 | |||||
| one or more required annual facts are missing | |||||||
| Net debt to EBITDA | 4.48x | [3,6,8,15] | 3.63x | 60.3 | 117 | 2025-12-31 | |
| Interest coverage | not computable | 2.37x | |||||
| latest aligned inputs end 2023-12-31; latest annual assets end 2025-12-31 | |||||||
| Current ratio | 1.27x | [16-17] | 0.97x | 32.0 | 282 | 2025-12-31 | |
| Growth and financing, sleeve percentile 57.6 | |||||||
| Revenue growth, three-year compound | 12.3% | [2,18-20] | 0.7% | 10.0 | 222 | 2025-12-31 | |
| Free cash flow growth, three-year compound | 29.9% | [13,21-27] | (11.8%) | 16.7 | 55 | 2025-12-31 | |
| Reinvestment rate | (45.2%) | [3-5,15-17,21,28-29] | 59.0% | 87.3 | 72 | 2025-12-31 | |
| Asset growth, three years | (0.6%) | [1,14,30-31] | 6.4% | 83.7 | 246 | 2025-12-31 | |
| Net share issuance, one year | 23.4% | [32-33] | 0.4% | 90.4 | 157 | 2026-02-12 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.207; sampling error 3.6 percentile points on 148 peers.
Among 148 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 36 | Pure Cycle Corp. (PCYO) Pure Cycle Corp. (PCYO) Bsecond fifth; percentile 23.8 Nasdaq · Water Supply market equity $265.1M; last close $11.01 Warnings: fortress balance sheet; 10 of 14 inputs | 23.8 | B | fortress balance sheet |
| 37 | Valero Energy Corp/Tx (VLO) Valero Energy Corp/Tx (VLO) Bsecond fifth; percentile 24.5 NYSE · Petroleum Refining market equity $127.8B; last close $444.12 No active warnings; 10 of 14 inputs | 24.5 | B | |
| 38 | Montauk Renewables, Inc. (MNTK) Montauk Renewables, Inc. (MNTK) Bsecond fifth; percentile 25.2 Nasdaq · Gas & Other Services Combined market equity $390.0M; last close $2.74 No active warnings; 7 of 14 inputs | 25.2 | B | |
| 39 | Liberty Energy Inc. (LBRT) Liberty Energy Inc. (LBRT) Bsecond fifth; percentile 25.9 NYSE · Oil & Gas Field Services, NEC last close $18.84 No active warnings; 11 of 14 inputs | 25.9 | B | |
| 40 | Marathon Petroleum Corp. (MPC) Marathon Petroleum Corp. (MPC) Bsecond fifth; percentile 26.5 NYSE · Petroleum Refining market equity $130.1B; last close $463.68 No active warnings; 13 of 14 inputs | 26.5 | B | |
| 41 | USA Compression Partners, L.P. (USAC) USA Compression Partners, L.P. (USAC) Bsecond fifth; percentile 27.2 NYSE · Natural Gas Transmission market equity $3.7B; last close $25.16 No active warnings; 9 of 14 inputs | 27.2 | B | |
| 42 | Valvoline Inc. (VVV) Valvoline Inc. (VVV) Bsecond fifth; percentile 27.9 NYSE · Miscellaneous Products of Petroleum & Coal market equity $3.9B; last close $30.84 No active warnings; 10 of 14 inputs | 27.9 | B | |
| 43 | NRG Energy, Inc. (NRG) NRG Energy, Inc. (NRG) Bsecond fifth; percentile 28.6 NYSE · Electric Services market equity $22.3B; last close $106.33 No active warnings; 9 of 14 inputs | 28.6 | B | |
| 44 | HighPeak Energy, Inc. (HPK) HighPeak Energy, Inc. (HPK) Bsecond fifth; percentile 29.3 Nasdaq · Drilling Oil & Gas Wells market equity $1.1B; last close $8.74 No active warnings; 8 of 14 inputs | 29.3 | B | |
| 45 | Chevron Corp. (CVX) Chevron Corp. (CVX) Bsecond fifth; percentile 29.9 NYSE · Petroleum Refining market equity $418.0B; last close $211.56 No active warnings; 8 of 14 inputs | 29.9 | B | |
| 46 | DT Midstream, Inc. (DTM) DT Midstream, Inc. (DTM) Bsecond fifth; percentile 30.6 NYSE · Natural Gas Transmission market equity $12.6B; last close $123.84 No active warnings; 7 of 14 inputs | 30.6 | B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | D | 61.6 | 2204 |
| sector peers, equal sleeves (the grade) | B | 27.2 | 148 |
| same exchange, equal sleeves | C | 54.2 | 984 |
| sector peers, equal inputs | B/C | 38.8 | 148 |
Each letter is one fifth of the 148 graded peers, about 29 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 22.6% | 15.5% | 60 | hotter than 60 of 100 peers |
| Distance from 52-week high | (16.2%) | (15.4%) | 48 | closer to its high than 48 of 100 peers |
| EBIT to enterprise value | 4.6% | 4.6% | 51 | pricier than 49 of 100 peers |
| Free cash flow yield | 7.5% | 1.3% | 80 | pricier than 20 of 100 peers |
| Book value to price | (0.03) | 0.53 | 3 | pricier than 97 of 100 peers |
| Sales to price | 0.27 | 0.45 | 19 | pricier than 81 of 100 peers |
| Composite equity issuance, five years | (14.3%) | (7.2%) | 36 | more equity-funded than 36 of 100 peers |
| Relative strength against the sector, log excess return | 0.22 | 0.04 | 77 | ahead of 77 of 100 peers |
Inputs: market equity $3.7B; EBIT $306.5M; free cash flow $277.0M; book equity -$112.5M; sales $998.1M; debt $2.9B; cash $9.5M[34].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 4.1% | ✓ pass[12,14] |
| Operating cash flow above zero | $394.3M | ✓ pass[13] |
| Return on assets improved | 0.4 pts | ✓ pass[12,14,30,35] |
| Operating cash flow exceeds net income | $282.9M | ✓ pass[12-13] |
| Long-term leverage fell | 2.8 pts | ✗ fail[1,14,30,36-37] |
| Current ratio improved | 3.3 pts | ✓ pass[16-17,28-29] |
| No new shares issued | 23.4% | ✗ fail[32-33] |
| Gross margin improved | n/a | |
| Asset turnover improved | 1.6 pts | ✓ pass[2,14,18,30] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $9.5M[38] |
| Operating cash flow, four quarters | $447.2M[13,38-42] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 64 |
| 10-Q received Aug 6, 2026 | |
| Median daily dollar volume | $7.2M |
| 63 sessions | |
| Days since newest grade input | 234 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $2.6B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $998.1M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 3 | operating income | us-gaap:OperatingIncomeLoss | $306.5M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 4 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $116.2M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 5 | income tax | us-gaap:IncomeTaxExpenseBenefit | $4.9M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 6 | total debt | us-gaap:LongTermDebt | $2.5B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 7 | book equity | us-gaap:PartnersCapital | -$112.5M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 8 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $8.6M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 9 | total debt | us-gaap:LongTermDebt | $2.5B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:PartnersCapital | -$141.1M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 11 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $14,000 | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 12 | net income | us-gaap:NetIncomeLoss | $111.3M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 13 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $394.3M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 14 | assets | us-gaap:Assets | $2.7B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 15 | depreciation amortization | us-gaap:Depreciation | $255.4M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 16 | current assets | us-gaap:AssetsCurrent | $236.6M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 17 | current liabilities | us-gaap:LiabilitiesCurrent | $186.9M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 18 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $950.4M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 19 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $846.2M | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 20 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $704.6M | 2022-12-31 | 2025-02-11 | 10-K | filing · viewer · series |
| 21 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $117.3M | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 22 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $341.3M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 23 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $204.9M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 24 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $271.9M | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 25 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $238.5M | 2023-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 26 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $260.6M | 2022-12-31 | 2025-02-11 | 10-K | filing · viewer · series |
| 27 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $134.2M | 2022-12-31 | 2025-02-11 | 10-K | filing · viewer · series |
| 28 | current assets | us-gaap:AssetsCurrent | $235.0M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 29 | current liabilities | us-gaap:LiabilitiesCurrent | $190.7M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 30 | assets | us-gaap:Assets | $2.7B | 2023-12-31 | 2025-02-11 | 10-K | filing · viewer · series |
| 31 | assets | us-gaap:Assets | $2.7B | 2022-12-31 | 2024-02-13 | 10-K | filing · viewer · series |
| 32 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 144,972,358 | 2026-02-12 | 2026-02-17 | 10-K | filing · viewer · series |
| 33 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 117,528,971 | 2025-02-06 | 2025-02-11 | 10-K | filing · viewer · series |
| 34 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 144,943,345 | 2026-07-31 | 2026-08-06 | 10-Q | filing · viewer · series |
| 35 | net income | us-gaap:NetIncomeLoss | $99.6M | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 36 | long term debt | us-gaap:LongTermDebtNoncurrent | $2.5B | 2025-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 37 | long term debt | us-gaap:LongTermDebtNoncurrent | $2.5B | 2024-12-31 | 2026-02-17 | 10-K | filing · viewer · series |
| 38 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $9.5M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 39 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $231.8M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 40 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $86.1M | 2026-03-31 | 2026-05-07 | 10-Q | filing · viewer · series |
| 41 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $254.8M | 2025-09-30 | 2025-11-05 | 10-Q | filing · viewer · series |
| 42 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $178.9M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 27.2 is 7.2 points from the nearest band edge; sampling error is 3.6 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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