Chart Industries, Inc.
- Open
- 209.90
- Day high
- 209.90
- Day low
- 209.90
- Prev close
- 209.90
- Volume
- 0
- Mkt cap
- $10.0B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.2
- P/S
- 2.4
- Yield
- —
- Per share
- —
Chart Industries, Inc. (GTLS) is a Industrials company listed on NYSE. The stock is up 22% over the past year. Drillr has 1 published research article covering GTLS.
Chart Industries, Inc. (GTLS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GTLS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | $1.98 | $-0.38 | -119.2% | $885M | -14.4% |
| Oct 29, 2025 | $3.01 | $2.78 | -7.5% | $1.1B | -9.5% |
| Jul 29, 2025 | $2.63 | $2.59 | -1.5% | $1.1B | -7.2% |
| May 1, 2025 | $1.84 | $1.86 | +0.8% | $1.0B | -12.8% |
| Feb 28, 2025 | $3.20 | $2.66 | -16.9% | $1.1B | +3.8% |
| Nov 1, 2024 | $2.54 | $2.18 | -14.2% | $1.1B | -15.3% |
| Aug 2, 2024 | $2.55 | $2.18 | -14.4% | $1.0B | -6.0% |
| May 3, 2024 | $1.88 | $1.49 | -20.8% | $1.6B | +59.7% |
| Feb 28, 2024 | $2.14 | $2.25 | +5.1% | $1.0B | -7.5% |
| Oct 27, 2023 | $1.63 | $1.28 | -21.3% | $1.5B | +47.9% |
| Jul 28, 2023 | $0.95 | $1.19 | +24.9% | $1.5B | +61.7% |
| Apr 28, 2023 | $0.37 | $1.41 | +280.1% | $538M | +13.3% |
GTLS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 14, 2026 | Durham Markofficer: Chief Accounting Officer | Tax | 107 | $209.87 |
| Jul 2, 2026 | STRAUCH ROGER Adirector | Grant | 191 | — |
| Jul 2, 2026 | Sagehorn David M.director | Grant | 191 | — |
| Jul 2, 2026 | Harty Linda Sdirector | Grant | 191 | — |
| Jul 2, 2026 | Harris Pauladirector | Grant | 191 | — |
| Jul 2, 2026 | Stiles Spencer Sdirector | Grant | 191 | — |
| Jul 2, 2026 | CICHOCKI ANDREW Rdirector, officer: Chair of the Board | Grant | 191 | — |
| Jul 2, 2026 | Mahoney Paul Edirector | Grant | 191 | — |
| May 22, 2026 | Vinci Gerald Fofficer: President | Tax | 143 | $208.29 |
| May 22, 2026 | Hotchkiss Herbertofficer: VP, GC and Secretary | Tax | 143 | $208.29 |
| May 22, 2026 | Belling Joseph Aofficer: Chief Technology Officer | Tax | 102 | $208.29 |
| May 22, 2026 | Brinkman Joseph Robertofficer: VP & Chief Financial Officer | Tax | 77 | $208.29 |
| Apr 3, 2026 | Belling Joseph Aofficer: Chief Technology Officer | Tax | 34 | $207.09 |
| Apr 3, 2026 | Harty Linda Sdirector | Grant | 193 | — |
| Apr 2, 2026 | Mahoney Paul Edirector | Grant | 193 | — |
Source: GTLS SEC Form 4 filings, latest Jul 14, 2026. For informational purposes only — not investment advice.
See the full GTLS insider & 13F page →Chart Industries, Inc. company profile
Overview
Chart Industries, Inc. (NASDAQ:GTLS) is a Georgia-based industrial equipment manufacturer founded in 1859 that specializes in engineered solutions for the energy and industrial gas sectors. The company has evolved from its 19th-century origins into a global leader in cryogenic equipment and clean energy infrastructure, serving critical roles in liquefied natural gas (LNG), hydrogen, carbon capture, and industrial gas applications. Chart operates through four main business segments and has significantly expanded its capabilities through strategic acquisitions, including the major acquisition of Howden in recent years, positioning itself at what management calls the "Nexus of Clean" energy solutions.
Business
Chart Industries operates in the specialized industrial machinery sector, focusing on cryogenic equipment and clean energy infrastructure. Cryogenic technology involves the production, handling, and storage of materials at extremely low temperatures (typically below -150°C or -238°F), which is essential for liquefying gases like natural gas, hydrogen, and industrial gases such as oxygen and nitrogen. The company operates through four distinct business segments: 1. Cryo Tank Solutions (CTS) - approximately 15% of revenue - manufactures storage and transportation equipment for liquefied gases, including bulk storage tanks, cryogenic trailers, ISO containers, and specialized equipment for LNG virtual pipeline applications. These products enable the safe storage and transport of super-cooled liquefied gases. 2. Heat Transfer Systems (HTS) - approximately 25% of revenue - produces critical components for LNG facilities and industrial applications, including brazed aluminum heat exchangers, cold boxes (pre-assembled units containing heat exchangers), air-cooled heat exchangers, and complete liquefaction systems. This segment serves both small-scale and large export LNG facilities. 3. Specialty Products - approximately 25% of revenue - provides highly engineered equipment for niche applications including hydrogen processing, biogas upgrading, CO2 capture, food and beverage processing, aerospace, and water treatment. This segment also includes vacuum-insulated piping and specialized measurement equipment. 4. Repair, Service & Leasing (RSL) - approximately 35% of revenue - offers aftermarket services including equipment maintenance, repair, refurbishment, parts supply, plant optimization, and equipment leasing solutions. This segment provides recurring revenue streams and typically generates the highest margins.
Revenue model
Chart Industries generates revenue through multiple complementary business models across its segments. The company primarily makes money through direct equipment sales to industrial customers, energy companies, and gas processing facilities. Major customers include LNG project developers, industrial gas companies like Air Products and Linde, energy infrastructure developers, and government entities. The product sales model dominates the first three segments, where Chart manufactures and sells engineered equipment with typical project values ranging from hundreds of thousands to tens of millions of dollars. The company often operates on a project basis with long lead times, building equipment to customer specifications. The service and leasing model in the RSL segment provides higher-margin recurring revenue through maintenance contracts, parts sales, equipment upgrades, and leasing arrangements. This segment benefits from Chart's large installed base of equipment that requires ongoing service throughout its operational life. Several factors influence Chart's profitability margins. Positive margin drivers include the company's specialized technology expertise that commands premium pricing, the mission-critical nature of cryogenic equipment that reduces price sensitivity, successful cost synergies from acquisitions, and the growing mix of higher-margin aftermarket services. The company's backlog-driven business model also provides revenue visibility and helps maintain pricing discipline. Negative margin pressures come from commodity steel and aluminum price volatility, supply chain disruptions, potential tariff impacts on imported components, competitive bidding on large projects, and the cyclical nature of major LNG and industrial projects. Currency fluctuations also affect international operations, while the capital-intensive nature of customer projects can lead to timing delays that impact quarterly results.
Competitive moat
Chart Industries possesses a moderate to strong competitive moat built primarily on specialized technical expertise and high customer switching costs. The company's moat stems from several key factors: deep engineering knowledge in cryogenic applications that requires decades to develop, established relationships with major industrial gas companies and LNG developers, and a large installed base that generates recurring service revenue. The technical barriers to entry are substantial in cryogenic equipment manufacturing. Working with super-cooled liquefied gases requires specialized materials science, precision manufacturing capabilities, and extensive safety certifications. Chart's experience dating back to 1859, combined with acquired capabilities from companies like Howden, creates significant knowledge advantages that competitors cannot easily replicate. Customer switching costs are high due to the mission-critical nature of cryogenic equipment, long equipment lifecycles (often 20+ years), and the specialized service requirements. Once Chart equipment is installed, customers typically prefer to work with Chart for maintenance, upgrades, and expansions due to technical familiarity and parts compatibility. However, the moat faces several competitive challenges. Large industrial conglomerates like Air Products, Linde, and Baker Hughes compete in various segments, often with greater financial resources. The project-based nature of much of Chart's business means competitive bidding can pressure margins. Additionally, some customers, particularly large LNG developers, maintain multiple supplier relationships to ensure competitive pricing and supply security. Potential disruption could come from alternative energy storage technologies, changes in LNG market dynamics, or new entrants with innovative manufacturing approaches. However, the specialized nature of cryogenic applications and the growing emphasis on clean energy infrastructure provide some protection against disruption.
Risks & safety
Chart Industries presents a moderate margin of safety with manageable debt levels but elevated valuation metrics and some cash flow volatility. **Debt and Solvency:** - Net leverage ratio of 3.35x EBITDA as of Q1 2025, down from over 4x previously - Total debt-to-equity ratio of 1.24x, indicating moderate leverage - $296 million in cash and short-term investments provides adequate liquidity - Strong interest coverage with EBITDA of $928 million annually - Management targeting net leverage below 2.5x by end of 2025 **Cash Flow Characteristics:** - Free cash flow of $382 million for full year 2024, but volatile quarterly patterns - Q1 2025 negative free cash flow of -$80 million due to working capital timing - Operating cash flow can be lumpy due to project-based business model - Strong EBITDA generation provides cash flow cushion **Valuation Metrics:** - Current P/E ratio of 32.8x appears elevated for industrial machinery - EV/EBITDA of 16.3x is high relative to industrial peers - Price-to-book ratio of 2.16x suggests premium valuation - Graham number of $40.66 well below current price of $151.45 **Other Considerations:** - Backlog provides revenue visibility but project delays can impact timing - Exposure to cyclical LNG and industrial markets creates earnings volatility - Recent acquisition integration adds execution risk but also growth potential
Recent development
Chart Industries has undergone significant strategic transformation over the past few years, centered around major acquisitions and positioning for clean energy markets. The most significant development was the acquisition of Howden, a global rotating equipment manufacturer, which dramatically expanded Chart's capabilities in compression, fans, and rotating equipment while adding substantial scale and geographic reach. The company has systematically exceeded its synergy targets from the Howden acquisition, achieving over $250 million in cost synergies ahead of schedule and generating $924 million in commercial synergies by 2024. These commercial synergies involve cross-selling Chart's cryogenic expertise with Howden's rotating equipment capabilities to create comprehensive solutions for customers. Chart has strategically positioned itself in emerging clean energy markets, particularly hydrogen infrastructure and carbon capture applications. The company has secured major hydrogen compression orders and is seeing growing demand for hydrogen liquefaction systems as the hydrogen economy develops. In carbon capture, Chart provides CO2 processing and storage equipment as industrial decarbonization accelerates. The company has identified and is pursuing new market opportunities in data center cooling, driven by AI and high-performance computing growth. Management has identified a near-term $400-500 million opportunity in data center applications, leveraging Chart's existing heat transfer and cooling technologies. Recent operational improvements include the implementation of Chart Business Excellence (CBE) initiatives focused on operational efficiency, quality improvements, and margin expansion. The company is targeting mid-30s gross margins in the medium term, up from current levels in the high 20s to low 30s range. Chart has also expanded its global footprint and manufacturing flexibility to address supply chain challenges and potential tariff impacts, with manufacturing capabilities across multiple regions including the US, Europe, and Asia.
GTLS company profile · for informational purposes only — not investment advice.
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