USA Compression Partners, LP
USAC Energy Oil & Gas Equipment & Services
USA Compression Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $998.1 million, up 5.01% from fiscal 2024. In the quarter to June 2026, revenue grew 36.8%, EPS grew 40.9%, free cash flow grew 7.22% and total debt rose 17.5%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three, operating cash flow growth for three; insiders bought in the last twelve months.
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USA Compression Partners, LP (USAC) Beneish M-score
USA Compression Partners, LP's Beneish M-score for fiscal 2025 is −3.08; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −3.08 | (0.07) |
| FY2024 | −3.01 | (0.23) |
| FY2023 | −2.78 | (0.05) |
| FY2022 | −2.72 | 0.02 |
| FY2021 | −2.74 | 1.80 |
| FY2020 | −4.54 | (1.84) |
| FY2019 | −2.70 | 4.52 |
| FY2018 | −7.22 | (4.51) |
| FY2017 | −2.71 | (0.28) |
| FY2016 | −2.43 | 1.12 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.87 | — | 0.80 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.98 | — | 0.39 | |
| Sales growth index | 1.05 | — | 0.94 | |
| Depreciation index | 0.88 | — | 0.10 | |
| SG&A index | 0.87 | — | −0.15 | |
| Total accruals to total assets | (0.11) | — | −0.51 | |
| Leverage index | 1.05 | — | −0.34 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.08 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| KGS Kodiak Gas Services, Inc. compare | −3.2× |
| USAC USA Compression Partners, LP | −3.1× |
| EFXT Enerflex Ltd. compare | −3.0× |
| LBRT Liberty Energy Inc. compare | −3.0× |
| WHD Cactus, Inc. compare | −2.8× |
| TDW Tidewater Inc. compare | −2.4× |
| AROC Archrock, Inc. compare | −2.4× |
| OII Oceaneering International, Inc. compare | −2.3× |
| WBI WaterBridge Infrastructure LLC compare | −1.0× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI