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ZYBERNO
Stock Report
Updated Aug 31, 2026

Flowco Holdings Inc. (FLOC)

Technology • NYSE

$21.16

Professional Investment Analysis

ZYBERNO SCORE →
Is it a great business? Is it getting better?
67.0/100
GOOD BUSINESS
Flowco Holdings Inc. (FLOC) scores 67/100 — strong fundamentals with solid profitability and healthy cash flow generation.
📊 How is the Zyberno Score calculated? +
VALUATION SIGNAL
MARGIN OF SAFETY
Is this stock cheap or expensive relative to what the business has historically generated for owners?
+86.0%
Undervalued
Is the market underestimating or overestimating what this business is capable of going forward?
+100.2%
Market Underestimates
↑ UNDER
+50%
Brina Gap
-50%
↓ OVER
← OVERVALUED
-100%
Margin of Safety
UNDERVALUED →
+100%
UNDERESTIMATED
GROWTH
DOUBLE
DISCOUNT
EXPENSIVE
HYPE
VALUE
TRAP
0,0
MoS +86.0%  ·  Gap +100.2%

Two independent signals. One tells you if the stock is cheap relative to what the business has historically generated for owners — the Margin of Safety. The other tells you if the market is underestimating what the business is capable of going forward — the Brina Gap.

They are calculated from completely different data sources and answer completely different questions. The Margin of Safety reads the past. The Brina Gap reads the present economics and compares them against what the current stock price is assuming about the future.

When both point in the same direction simultaneously — DOUBLE DISCOUNT — the probability of genuine mispricing is high. The market is wrong on two independent dimensions at once, which is rare and significant.

The most dangerous scenario is not an overvalued stock — those are easy to avoid. It is a VALUE TRAP: a stock that appears cheap historically but where the market is already pricing in stronger growth than the business fundamentals support. Without the Brina Gap signal this looks identical to a genuine opportunity. The matrix separates them instantly.

The Brina Gap is the more powerful of the two signals. Most investors and analytical tools focus on valuation alone — whether a stock is cheap relative to earnings. Far fewer systematically compare what the business economics structurally support against what the stock price is actually assuming. That gap between fundamental growth potential and market expectations is where the most reliable mispricings live, and where this matrix earns its value.

Use this as your first filter. A stock in DOUBLE DISCOUNT territory is worth investigating. Everything else requires either more caution or a specific reason to act.

DOUBLE DISCOUNT OPPORTUNITY
Flowco Holdings Inc. (FLOC) scores a Double Discount — Margin of Safety +86.0% against historical owner earnings and Brina Gap +100.2% against forward business economics. Both independent signals point to undervaluation simultaneously.
🎯 Expected Annual Return →
77.8%
Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)
69.9%
Brina Gap convergence — your return if the market corrects the growth mispricing the Gap measures
42.9%
Yield + growth — what the business alone earns you, even if the market never re-rates
💰 How is Margin of Safety calculated? +
📈 How is Brina Gap calculated? +

Critical Financial Health Indicators

Return on Equity (Profitability):GOOD (19.5%)
Debt-to-Equity (Solvency Risk):AVERAGE (0.94x)
Operating Margin (Operational Efficiency):GOOD (18.8%)
Return on Capital (Capital Efficiency):EXCELLENT (20.5%)
📊 Valuation Trilogy
Three interconnected metrics for complete valuation analysis
💎
Intrinsic Value
DCF Fair Value
$151.04
🛡️
Margin of Safety
Valuation Gap
86.0%
🎯
Expected Return
Projected Annual
77.8%
Click any metric for full methodology and detailed analysis
Zyberno's Verdict

According to Zyberno, Flowco Holdings Inc. (FLOC) is a buy opportunity — GOOD BUSINESS (67/100) trading at a Margin of Safety of +86.0% against historical owner earnings, with a Brina Gap of +100.2% confirming the market is underestimating its forward growth capacity.

According to Zyberno's DCF model, Flowco Holdings Inc. (FLOC) trades at $21.16 against an estimated intrinsic value per share of $151.04 — a +86.0% Margin of Safety based on Owner Earnings of $208.02M TTM, projected at 100.0% growth for 10 years with a 2.5% terminal growth rate. The Brina Gap of +100.2% strengthens the case: based on the company's ROIC (20.5%) and reinvestment rate (469.9%), the business can fundamentally grow at 96.4% — but the current enterprise value implies the market expects -3.8%. This places FLOC in the Double Discount quadrant of the Brina Matrix, the rarest and most attractive position. Zyberno's model translates this into a 5-year expected return of 77.8% annually.

Over the trailing twelve months, FLOC generated $208.02M in Owner Earnings. Capital was deployed as follows: $16.52M returned via share buybacks, $6.72M paid as dividends, $125.82M invested in capital expenditures. Reinvestment rate: 469.9%. Owner Earnings have grown at 100.0% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY
A. Market Valuation

Market Price & Capitalization (2)

Current Price:21.16
Market Cap:$906.87M

Valuation Multiples (4)

P/E Ratio:
20.35x
📊 Click to view full FLOC P/E analysis →
P/B Ratio:2.48x
P/S Ratio:1.11x
Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$1.19B
Ev Ebitda Ratio:3.70x
Pfcf Ratio:4.43x

Price Action & Momentum (3)

12-1 Momentum:
+6.2% (65th pctile)
📈 Click to view full FLOC Momentum analysis →
Momentum Percentile:65 / 100
% of 52-Week High:74.9%
B. Profitability Assessment

Return Metrics (7)

ROE:
19.5%
📊 Click to view full FLOC ROE analysis →
ROA:3.9%
Roic:
20.5%
📊 Click to view full FLOC ROIC analysis →
Reinvestment Rate:469.9%
Fundamental Growth Rate (g):96.4%
Market-Implied Growth Rate:-3.8%
Brina Gap:
100.2%
☷ Click to view full FLOC Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:18.8%
Net Margin Ttm:8.5%
Ebitda Margin:39.4%

TTM Performance (3)

Gross Margin Ttm:55.1%
Operating Margin Ttm:18.8%
Net Margin Ttm:8.5%

Yield Metrics (3)

Earnings Yield:$4.91
Owner Earnings Yield:$22.94
Dividend Yield:0.7%
C. Log-Linear Regression Growth Trends

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):16.9%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):-33.2%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):100.0%
Operating Cash Flow Growth Rate (Linear):67.5%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):10.8%
D. Financial Stability

Liquidity Ratios (3)

Current Ratio:2.67x
Quick Ratio:1.33x
Cash Ratio:0.14x

Leverage Analysis (3)

Debt To Equity Ttm:0.94x
Debt-to-Equity Ratio:0.94x
Debt To Ebitda:0.95x

Coverage Ratios (2)

Interest Coverage Ratio:8.73x
Times Interest Earned:8.73

Capital Structure (4)

Working Capital:231,905,000.00
Cash And Cash Equivalents:19,189,000.00
Long Term Debt:$298.41M
Net Debt:$287.80M
DIVISION II: FINANCIAL STATEMENTS ANALYSIS
A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $819.54M
Linear Growth: 16.9%
📊 Click to view full FLOC Revenue analysis & methodology →
Cost Of Revenue Ttm:$368.34M

Profitability Breakdown (2)

Gross profit TTM: $451.21M
Linear Growth: 19.2%
📊 Click to view full FLOC Gross Profit analysis & methodology →
Operating income TTM: $154.08M
Linear Growth: 10.8%
📊 Click to view full FLOC Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $69.72M
Linear Growth: -33.2%
📊 Click to view full FLOC Net Income analysis & methodology →
Income Before Tax:$136.96M
Ebitda Ttm:322,501,000.00

Operating Expenses (5)

Operating Expenses:0.00
R And D Expense:0.00
Sga Expense:127,491,000.00
Income Tax Expense:$1.31M
Interest Expense:17,074,000.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%
Sga To Revenue Percentage:54.1%
Ebitda Margin:39.4%
B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.92B
Current Assets:$370.67M
Ppe Net:863,028,000.00
Goodwill:305,155,000.00
Intangible Assets:$306.47M

Liability Structure (4)

Total Liabilities:1,557,863,000.00
Current Liabilities:138,763,000.00
Long Term Debt:$298.41M
Short Term Debt:$8.58M

Equity & Capital (3)

Equity:$365.15M
Retained Earnings:$24.94M
Common Stock:0.00

Working Capital Items (3)

Accounts Receivable:145,469,000.00
Inventory:186,334,000.00
Accounts Payable:45,285,000.00

Special Items (2)

Contract Liabilities:18,900,000.00
Stock Based Compensation:3,074,000.00
C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $330.53M
Linear Growth: 67.5%
Free cash flow TTM: $204.71M
Linear Growth: 100.0%
📊 Click to view full FLOC Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$188.28M
Capital Expenditures Ttm:125,822,000.00

Financing Activities (3)

Financing Cash Flow:$122.39M
Dividends Paid Ttm:6,719,000.00
Stock Repurchase:16,516,000.00

Capital Transactions (3)

Common Stock Issuance:0.00
Long Term Debt Issuance:$469.13M
Long Term Debt Repayments:$308.96M

Non-Cash Items (1)

Depreciation Amortization Ttm:168,421,000.00
DIVISION III: OPERATIONAL METRICS
A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):1.20
Eps diluted TTM: $1.04
Linear Growth: 10.4%
📊 Click to view full FLOC EPS analysis & methodology →
Earnings Per Share Ttm:$1.63

Revenue & Cash Per Share (3)

Sales Per Share Ttm:19.12
Operating Cash Flow Per Share:$6.87
Fcf Per Share Ttm:4.78

Book Value & Capital (2)

Book Value Per Share:$8.52
Cash Per Share:0.45

Dividend Policy (1)

Dividend Payout Ratio:11.10x
B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.46x
Working Capital Turnover Ttm:3.53x

Receivables Management (2)

Receivables Turnover Ttm:5.63x
Days Sales Outstanding Ttm:64.79

Inventory Management (2)

Inventory Turnover Ttm:1.98x
Days Inventory Outstanding Ttm:184.65

Payables & Cash Cycle (2)

Days Payable Outstanding:44.87
Cash Conversion Cycle:204.56
C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:60.00
Quality Score:90.00

Market Metrics (2)

Beta:0.00x
Volatility Category:unknown
DIVISION IV: INVESTMENT ANALYSIS
A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $208.02M
Linear Growth: 100.0%
📊 Click to view full FLOC Owner Earnings analysis & methodology →
Owner Earnings Per Share:$4.85
Owner Earnings Yield:$22.94

Growth Assessment (1)

Owner Earnings Growth Rate:$100.00

Damodaran Growth Analysis (4)

Reinvestment Rate:469.9%
Fundamental Growth Rate (g):96.4%
Market-Implied Growth Rate:-3.8%
Brina Gap:
100.2%
☷ Click to view full FLOC Brina Gap analysis →

Intrinsic Value Models (1)

Intrinsic Value:
$6.47B
📊 Click to view full FLOC DCF valuation →

Margin of Safety (1)

Margin Of Safety:
86.0%
📊 Click to view full FLOC valuation analysis →

Return Scenarios (2)

Theoretical 5-Year Return:
77.8%
📊 Click to view full FLOC expected return analysis →
Forward Expected Return (Yield + Growth):
42.9%
📊 Click to view full FLOC expected return analysis →

Investment Assessment (1)

Buffett Assessment:Excellent margin of safety
B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):16.9%
Net Income Growth Rate (Linear):-33.2%
Operating Income Growth Rate (Linear):10.8%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):100.0%
Operating Cash Flow Growth Rate (Linear):67.5%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):19.2%
Book Value Growth Rate (Linear):96.0%
Owner Earnings Growth Rate:$100.00
C. Company Profile & Context

Corporate Information (6)

Symbol:FLOC
Company Name:Flowco Holdings Inc.
Sector:Technology
Industry:Oil & Gas Field Machinery & Equipment
Exchange:NYSE
Country:United States

Market Classification (3)

Market Cap Category:N/A
Price Category:medium
Volume Category:N/A

Share Structure (3)

Shares Outstanding:42.86M
Shares Outstanding Basic:42.86M
Shares Outstanding Diluted:43.97M

Data Processing Info (3)

Processing Version:v3.0
Last Updated:2026-08-31 01:08:16 UTC
Data Timestamp:2026-08-31T01:08:16.347804
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