ProPetro Holding Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ProPetro Holding Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	437	982	1,705	2,052	789	875	1,280	1,630	1,444	1,269
Cost of revenue			1,271	1,470	584	662	883	1,132	1,066	968
Gross profit			434	582	205	212	397	499	379	301
General and administrative	26.6	49.2	54	105	86.8	82.9	112	114	114	108
Operating income	-67.4	24.1	233	221	-131	-68.7	-2.59	130	-167	6.35
Interest expense	20.4	7.35	6.89	7.14	2.38	0.61	1.61	5.31	7.82	8.24
Other non-operating income	-13.7	-8.37	-7.55	-7.86	-3.26	0.26	9.98	-14.8	-2.28	1.47
Pre-tax income	-81.1	15.7	225	214	-135	-68.4	7.39	116	-169	7.82
Income tax	-28	3.13	51.3	50.5	-27.5	-14.3	5.36	29.9	-31.4	7
Net income	-53.1	12.6	174	163	-107	-54.2	2.03	85.6	-138	0.82
EBITDA	-23.8	79.7	321	367	22	64.7	126	350	57.1	181
EPS, basic	-1.19	0.17	2.08	1.62	-1.06	-0.53	0.02	0.76	-1.31	0.01
EPS, diluted	-1.19	0.16	2.00	1.57	-1.06	-0.53	0.02	0.76	-1.31	0.01
Shares, basic (weighted)	44.8	76.4	83.5	100	101	103	106	113	105	104
Shares, diluted (weighted)	44.8	79.6	87	104	101	103	107	113	105	105

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	134	23.9	133	149	68.8	112	78.9	33.4	50.4	91.3
Short-term investments						0	10.3	7.75	7.85	0
Receivables	115	200	203	212	84.2	128	216	237	196	201
Inventory	4.71	6.18	6.35	2.44	2.73	3.95	5.03	17.7	16.2	13.3
Other current assets	6.68	0.75	0.64	1.12	0.78	0.3	0.04	0.35	4.05	1.4
Total current assets	265	236	349	376	168	251	329	311	292	327
Property, plant and equipment	264	471	913	1,048	880	808	923	967	688	793
Lease right-of-use assets				0.99	0.71	0.41	3.15
Goodwill	9.43	9.43	9.43	9.43	0	0	23.6	23.6	0.92	0.9
Intangible assets	0.59	0.3	0.01	0		0	56.3	50.6	64.9	55.5
Other non-current assets	0.3	2.12	2.98	2.57	1.83	1.27	1.15	2.12	14.4	4.81
Total assets	541	719	1,275	1,436	1,051	1,061	1,336	1,480	1,224	1,291
Accounts payable	129	211	214	193	79.2	153	234	161	93	115
Accrued liabilities	13.6	16.6	138	36.3	24.7	20.8	49	75.6	70.9	66
Deferred revenue							10	19.2	11.8	8.1
Short-term debt	16.9	15.8	0	0	0				0	13.8
Total current liabilities	160	244	353	233	104	174	284	271	222	253
Long-term debt	159	57.2	70	130	0	0	30	45	45	106
Lease liabilities			0	0.8	0.47	0.1	2.31	38.6	58.8	35.6
Other non-current liabilities	0.12	0.13	0.12	0			0	3.18	8.3	3.4
Total liabilities	320	306	477	467	180	235	382	482	407	461
Total debt	176	72.9	70	130	0	0	30	45	45	119
Paid-in capital	265	607	818	827	835	845	971	929	885	898
Retained earnings	-207	-194	-20.4	143	35.6	-18.6	-16.6	69	-68.8	-68
Shareholders' equity	221	413	797	969	871	826	954	998	816	830
Total equity	221	413	797	969	871	826	954	998	816	830
Total liabilities and equity	541	719	1,275	1,436	1,051	1,061	1,336	1,480	1,224	1,291
Shares outstanding	52.6	83	100	101			115	109	103	104

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-53.1	12.6	174	163	-107	-54.2	2.03	85.6	-138	0.82
Depreciation and amortization	43.5	55.6	88.1	145	153	133	128	220	224	175
Stock-based compensation	1.65	9.49	5.48	7.78	9.1	11.5	21.9	14.5	17.3	16.9
Deferred income tax	-28	3.43	49.7	48.8	-27.7	-14.3	4.21	27.8	-33.3	3.66
Change in receivables	-24.9	-84.5	-3.3	-10.2	127	-43.7	-66.9	-12.4	51.5	-4.76
Change in inventory	3.86	-1.47	-0.17	3.92	-0.29	-1.22	0.12	-6.02	1.54	2.84
Change in payables	37	64.2	9.72	-25.2	-95.7	51.8	27.4	-11.4	-64.5	9.57
Cash from operations	10.7	109	393	455	139	155	300	375	252	232
Capital expenditures	-42.8	-286	-284	-503	-101	-144	-320	-371	-140	-186
Acquisitions					0	0	-38.6	-22.2	-21	0
Cash from investing	-41.7	-281	-281	-495	-94.2	-104	-350	-384	-155	-150
Debt issued	0	60	77.4	110	0	0	30
Debt repaid	-41.3	-167	-80.9	-50	-130	0	0	0	0	-3.57
Stock issued	0	0	0.25	1.16	0	4.02	0.96	0	0
Share buybacks						0	0	-51.7	-59.1	0
Cash from financing	130	62.6	-3.72	56.3	-125	-7.28	26.3	-46.1	-80.1	-40.9
Net change in cash	99.3	-110	109	16.3	-80.3	43.1	-23.1	-55.5	17.1	40.9
Free cash flow	-32.2	-177	109	-47.6	38.5	11.2	-19.3	3.87	112	45.3
Interest paid	18.2	3.97	5.07	6.43	2.21	0.07	0.47	4.56	7.31	7.97
Income taxes paid	0	0	0	1.02	1.79	0.2	-10.7	1.11	-5	3.47

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.59 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	22.7%	Gross profit / revenue.
Operating margin	-1.0%	Operating income / revenue.
EBITDA margin	13.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.8%	Pre-tax income / revenue.
Net margin	-1.2%	Net income / revenue.
FCF margin	-1.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.5%	Cash from operations / revenue.
Return on equity (ROE)	-1.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.6%	Net income / average total assets.
Return on invested capital (ROIC)	-0.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	18.4%	Capital expenditures / revenue.
D&A / revenue	14.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-12.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-20.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-8.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	217.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	13.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	52.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-26.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y	-20.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-8.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-8.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-59.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	3.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-4.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-1.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-1.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.9%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.09x	Current assets / current liabilities.
Quick ratio	3.94x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.04x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.82x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	38.2%	Total debt / total assets.
Liabilities / assets	53.5%	Total liabilities / total assets.
Net debt	$2.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.02x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-1.08x	Operating income / interest expense.
Working capital	$797.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$905.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.56x	Revenue / average total assets.
Fixed asset turnover	1.32x	Revenue / average property, plant and equipment.
Inventory turnover	38.9x	Cost of revenue / average inventory.
Days inventory	9 days	365 x average inventory / cost of revenue.
Receivables turnover	4.98x	Revenue / average receivables.
Days sales outstanding	73 days	365 x average receivables / revenue.
Days payables	49 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	33 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	111.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.11	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$9.45	Revenue / diluted weighted shares.
FCF per share	-$0.18	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.56	Cash from operations / diluted weighted shares.
Book value per share	$7.80	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.38	Tangible book value / shares outstanding.
Cash per share	$6.39	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.18B	Share price x shares outstanding.
Enterprise value	$1.18B	Market cap + total debt - cash - short-term investments.
P/S	1.02x	Market cap / revenue.
P/B	1.23x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.30x	Market cap / tangible book value, when positive.
P/OCF	6.15x	Market cap / cash from operations, when positive.
EV/Sales	1.02x	Enterprise value / revenue.
EV/EBITDA	7.58x	Enterprise value / EBITDA, when both are positive.
FCF yield	-1.8%	Free cash flow / market cap.
Earnings yield	-1.1%	Net income / market cap (the inverse of P/E).

What was ProPetro Holding Corp.'s revenue in fiscal 2025?

ProPetro Holding Corp. reported revenue of $1.27B for fiscal 2025, 12.1% lower than the year before.

Was ProPetro Holding Corp. profitable in fiscal 2025?

Yes. Net income was $824.0K, a net margin of 0.1%.

How much free cash flow did ProPetro Holding Corp. generate in fiscal 2025?

Cash from operations of $231.6M minus capital expenditures of $186.3M left free cash flow of $45.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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