Chart Industries (GTLS)
NYSEIndustrialsIndustrial - MachinerySnapshot 2026-09-04
$209.900.00%
Close 2026-07-16 · 1-day change
NYSEIndustrialsIndustrial - MachinerySnapshot 2026-09-04
Broken: Primary pillar broken — Cash flow from operations improves toward positive territory: FY25 OCF +$292.7M vs 0; TTM OCF -$248.0M.
Chart Industries is growing revenue with a target above $4.6 billion in 2025. The company aims to improve operating income and increase free cash flow above $500 million. The recent acquisition by Baker Hughes supports strategic growth. These factors could help stabilize and grow the business.
Operating income fell sharply to $52.6 million in Q1 2026 from $152.3 million a year earlier. Cash flow from operations worsened to negative $248 million in Q1 2026. Earnings recently missed estimates and revenue fell short. These trends could continue and pressure the turnaround.
The market expects about 4% revenue growth and the current price reflects these moderate expectations. Our view aligns with this cautious outlook given recent earnings misses and cash flow challenges.
Breaks if: Cash flow remains negative beyond 2025
Improve net cash from operating activities and free cash flow despite working capital and tax impacts.
Stated as a priority in 1 quarter (2025-Q4). Free cash flow was $66.2 million in 2025-Q4, derived from $88.8 million net cash from operating activities less $22.6 million capital expenditures. The trajectory shows limited progress due to impacts from working capital, taxes, and deal-related costs.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment thesis is characterized as a turnaround situation. GTLS has been experiencing volatile management and fragile earnings quality, which adds uncertainty to its future performance.
The current valuation suggests that GTLS is considered cheap compared to its peers, but there is a notable expectations gap. The market appears to be pricing in some risks, given the company's recent struggles and the broader sector backdrop.
Fundamentals are likely to remain under pressure in the near term due to mixed results in operating income and cash flow. The company's recent financial performance has been below its industry peers, indicating a need for improvement.
The long-term thesis hinges on the successful completion of the Baker Hughes acquisition and improvements in operating income and cash flow. Additionally, the performance of sector bellwethers will be crucial, as their results could influence GTLS's trajectory.
The most important moves since the prior daily snapshot.
Our read on the company is unchanged since the prior snapshot.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Net cash from operating activities of $88.8 million less capital expenditures of $22.6 million resulted in $66.2 million of free cash flow.”
Breaks if: Operating income remains below $52.6 million over next year
Focus on increasing operating income and adjusted operating margins across segments despite market challenges.
Stated as a priority in 1 quarter (2025-Q4). Operating income declined from $188.3 million in 2024-Q4 to $125.1 million in 2025-Q4, with adjusted operating margin down 290 basis points due to higher SG&A costs. The trajectory shows limited progress with operating income and margins declining in the latest quarter.
“Reported operating income of $125.1 million or $206.0 million adjusted, with adjusted operating margin of 19.1%, down 290 bps.”
Breaks if: Revenue falls below $4.6 billion in 2025
Overall, GTLS is in a cautious state with several challenges to address in the coming months. Not investment advice.