A Business at a Glance
0 of 5 daily views used (5 remaining). Sign up free for 10 daily views, or try AAPL for a full preview.
Unless the context otherwise requires or is otherwise indicated, references in this Annual Report to the “Company,” “ProFrac,” “we,” “our” and “us,” or like terms, refer to (i) before the completion of the Corporate Reorganization, ProFrac Holdings, LLC, a Texas limited liability company (“ProFrac LLC”), and its consolidated subsidiaries; and (ii) following the completion of the Corporate Reorganization, ProFrac Holding Corp., a Delaware corporation (the “Issuer” or “ProFrac Corp.”), and its consolidated subsidiaries. When we refer to a “fleet” or a “frac fleet,” we are referring to the pumping units, truck tractors, data trucks, storage tanks, chemical additive and hydration units, blenders and other equipment necessary to perform well stimulation services, including back-up pumping capacity. Overview and Strategy ProFrac Holding Corp.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 2.2B | 2.6B | 2.4B | 768M |
| Net Income | -374M | -374M | -220M | -108M | 92M | -42M |
| EPS | $-2.22 | $-2.22 | $-1.38 | $-0.82 | $2.06 | $-0.27 |
| Free Cash Flow | 20M | 20M | 112M | 287M | 59M | -44M |
| ROIC | -9.0% | -21.4% | -2.5% | 6.8% | 31.3% | -11.1% |
| Gross Margin | 25.1% | 25.1% | 31.8% | 33.8% | 0.0% | 25.8% |
| Debt/Equity | 1.79 | 1.79 | 1.41 | 1.05 | -0.78 | 2.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -226M | -226M | -60M | 167M | 412M | -18M |
| Operating Margin | -11.6% | -11.6% | -2.8% | 6.3% | 17.0% | -2.3% |
| ROE | -52.2% | -43.4% | -21.8% | -8.9% | - | -28.8% |
| Shares Outstanding | 169M | 169M | 159M | 131M | 160M | 159M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 768M | 2.4B | 2.6B | 2.2B | 1.9B | 1.9B |
| Gross Margin | 25.8% | 0.0% | 33.8% | 31.8% | 25.1% | 25.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 64M | 243M | 234M | 205M | 191M | 191M |
| EBIT | -18M | 412M | 167M | -60M | -226M | -226M |
| Op. Margin | -2.3% | 17.0% | 6.3% | -2.8% | -11.6% | -11.6% |
| Net Income | -42M | 92M | -108M | -220M | -374M | -374M |
| Net Margin | -5.5% | 3.8% | -4.1% | -10.0% | -19.3% | -19.3% |
| Non-Recurring | 0 | 500K | 3.6M | 77M | 53M | 53M |
| Returns on Capital | ||||||
| ROIC | -11.1% | 31.3% | 6.8% | -2.5% | -21.4% | -9.0% |
| ROE | -28.8% | N/A | -8.9% | -21.8% | -43.4% | -52.2% |
| ROA | -6.4% | 7.1% | -3.5% | -7.4% | -13.5% | -14.5% |
| Cash Flow | ||||||
| Op. Cash Flow | 44M | 415M | 554M | 367M | 190M | 190M |
| Free Cash Flow | -44M | 59M | 287M | 112M | 20M | 20M |
| Owner Earnings | -97M | 81M | 85M | -82M | -236M | -236M |
| CapEx | 87M | 356M | 267M | 255M | 170M | 170M |
| Maint. CapEx | 141M | 267M | 438M | 442M | 416M | 416M |
| Growth CapEx | 0 | 89M | 0 | 0 | 0 | 0 |
| D&A | 141M | 267M | 438M | 442M | 416M | 416M |
| CapEx/OCF | N/A | 85.8% | 48.2% | 69.4% | N/A | 89.7% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | N/A | 67M | 30M | 7.3M | 9.3M | 9.3M |
| Debt Repayment | 147M | 532M | 947M | 157M | 136M | 136M |
| Balance Sheet | ||||||
| Net Debt | 288M | 890M | 1.2B | 1.4B | 1.2B | 1.3B |
| Cash & Equiv. | 5.4M | 35M | 25M | 15M | 23M | 23M |
| Long-Term Debt | 235M | 798M | 924M | 936M | 833M | 833M |
| Debt/Equity | 2.03 | -0.78 | 1.05 | 1.41 | 1.79 | 1.79 |
| Interest Coverage | -0.7 | 6.9 | 1.1 | -0.4 | -1.6 | -1.6 |
| Equity | 147M | -1.2B | 1.2B | 1.0B | 718M | 718M |
| Total Assets | 665M | 1.3B | 3.1B | 3.0B | 2.6B | 2.6B |
| Total Liabilities | 517M | 3.4M | 1.7B | 1.8B | 1.7B | 1.7B |
| Intangibles | 28M | N/A | 174M | 149M | 112M | 112M |
| Retained Earnings | N/A | -1.2B | -16M | -236M | -610M | -610M |
| Working Capital | 5.0M | 197M | -11M | -86M | -114M | -114M |
| Current Assets | 252M | 865M | 638M | 574M | 484M | 484M |
| Current Liabilities | 247M | 668M | 649M | 660M | 597M | 597M |
| Per Share Data | ||||||
| EPS | -0.27 | 2.06 | -0.82 | -1.38 | -2.22 | -2.22 |
| Owner EPS | -0.61 | 0.50 | 0.65 | -0.52 | -1.40 | -1.40 |
| Book Value | 0.93 | -7.42 | 9.24 | 6.32 | 4.26 | 4.26 |
| Cash Flow/Share | 0.28 | 2.60 | 4.22 | 2.31 | 1.12 | 0.25 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 158.9M | 159.6M | 131.1M | 159.3M | 168.6M | 168.6M |
| Valuation | ||||||
| P/E Ratio | N/A | 11.7 | N/A | N/A | N/A | -2.7 |
| P/FCF | N/A | 64.9 | 3.9 | 10.4 | N/A | 51.6 |
| EV/EBIT | N/A | 11.3 | 12.9 | N/A | N/A | N/A |
| Price/Book | N/A | N/A | 0.9 | 1.2 | N/A | 1.4 |
| Price/Sales | N/A | 1.3 | 0.7 | 0.5 | N/A | 0.5 |
| FCF Yield | N/A | 1.5% | 25.5% | 9.6% | N/A | 1.9% |
| Market Cap | N/A | 3.8B | 1.1B | 1.2B | 0 | 1.0B |
| Avg. Price | N/A | 19.88 | 13.04 | 7.54 | 0.00 | 6.00 |
| Year-End Price | N/A | 24.01 | 8.56 | 7.33 | 0.00 | 6.00 |
ProFrac Holding Corp. passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 54.3x vs a median of 10.4x. The company's 5-year average ROIC is 0.6% with a gross margin of 23.3%. At current prices, the estimated annualized return to fair value is +4.0%.
ProFrac Holding Corp. (ACDC) has a 5-year average return on invested capital (ROIC) of 0.6%. This is below average and may indicate limited pricing power.
ProFrac Holding Corp. (ACDC) has a market capitalization of $1.0B. It is classified as a small-cap stock.
ProFrac Holding Corp. (ACDC) does not currently pay a regular dividend.
ProFrac Holding Corp. (ACDC) operates in the Oil & Gas Field Services, Nec industry, within the Energy sector.
ProFrac Holding Corp. (ACDC) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
ProFrac Holding Corp. (ACDC) has a net profit margin of -19.3%. The company is currently unprofitable.
ProFrac Holding Corp. (ACDC) generated $20 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ProFrac Holding Corp. (ACDC) has a debt-to-equity ratio of 1.79. This indicates higher leverage, which may increase financial risk.
ProFrac Holding Corp. (ACDC) reported earnings per share (EPS) of $-2.22 in its most recent fiscal year.
ProFrac Holding Corp. (ACDC) has a return on equity (ROE) of -43.4%. A negative ROE may indicate losses or negative equity.
ProFrac Holding Corp. (ACDC) has a 5-year average gross margin of 23.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 5 years of financial data for ProFrac Holding Corp. (ACDC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ProFrac Holding Corp. (ACDC) has a book value per share of $4.26, based on its most recent annual SEC filing.