ProPetro Holding Corp.

Listed Company

PUMPCIK 0001680247NYSEAcceleratedOil & Gas Field Services, NecTexasFY ends Dec 31

Period

FY 2025

Revenue

$1.27B

Net Income

$824.0K

Total Assets

$1.29B

Equity

$829.84M

Shares Out

122.62M

Op. Cash Flow

$231.61M

Business

ProPetro Holding Corp. is an integrated energy services company that provides hydraulic fracturing, wireline and complementary completion and power generation services to upstream oil and gas producers. Its primary services include hydraulic fracturing fleets, wireline perforation and ancillary well completion services, cementing operations, wet sand solutions and a newly formed power generation subsidiary offering onsite power solutions for oil and gas and industrial users. The company reports core operating segments in hydraulic fracturing, wireline and cementing, with other activities grouped as All Other. It primarily serves E&P customers in the Permian Basin through direct contract arrangements and onsite field operations.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE - Service revenue	1,269	1,444	1,630	1,280	875
Cost of services (exclusive of depreciation and amortization)	968	1,066	1,132	883	662
General and administrative expenses (inclusive of stock-based compensation)	108	114	114	112	83
Depreciation and amortization	175	224	220	128	133
Property and equipment impairment expense	0	189	0	58	—
Goodwill impairment expense	0	24	0	0	—
Loss (gain) on disposal of assets and businesses, net	12	−5	34	102	65
Total costs and expenses	1,263	1,611	1,500	1,282	943
OPERATING INCOME (LOSS)	6	−167	130	−3	−69
Interest expense	−8	−8	−5	−2	—
Other income (expense), net	10	6	−10	12	873,000
Total other income (expense), net	1	−2	−15	10	259,000
INCOME (LOSS) BEFORE INCOME TAXES	8	−169	116	7	−68
INCOME TAX (EXPENSE) BENEFIT	−7	31	−30	−5	14
NET INCOME (LOSS)	824,000	−138	86	2	−54
Basic (in dollars per share)	0.01	−1.31	0.76	0.02	−0.53
Diluted (in dollars per share)	0.01	−1.31	0.76	0.02	−0.53
Basic (in shares)	104	105	113	106	103
Diluted (in shares)	105	105	113	107	103

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	91	50	33	79	112
Accounts receivable - net of allowance for credit losses of $0 and $0, respectively	201	196	237	216	128
Inventories	13	16	18	5	4
Prepaid expenses	20	18	15	9	7
Short-term investment	0	8	8	10	0
Other current assets	1	4	353,000	38,000	297,000
Total current assets	327	292	311	329	251
PROPERTY AND EQUIPMENT - net of accumulated depreciation	793	688	967	923	808
OPERATING LEASE RIGHT-OF-USE ASSETS	100	132	79	3	—
FINANCE LEASE RIGHT-OF-USE ASSETS	11	31	47	0	—
Goodwill	920,000	920,000	24	24	0
Intangible assets - net of amortization	55	65	51	56	0
Other noncurrent assets	4	14	2	1	1
Total other noncurrent assets	60	80	76	81	—
TOTAL ASSETS	1,291	1,224	1,480	1,336	1,061
Accounts payable	115	93	161	234	153
Accrued and other current liabilities	66	71	76	49	21
Interim debt - net of debt issuance costs	2	0	—	—	—
Current maturities of long-term debt - net of debt issuance costs	14	0	—	—	—
Operating lease liabilities	44	39	17	854,000	369,000
Finance lease liabilities	12	19	17	0	—
Total current liabilities	253	222	271	284	174
DEFERRED INCOME TAXES	63	60	93	65	61
LONG-TERM DEBT - net of debt issuance costs and current maturities	106	45	45	30	0
NONCURRENT OPERATING LEASE LIABILITIES	36	59	39	2	97,000
NONCURRENT FINANCE LEASE LIABILITIES	0	13	31	0	—
OTHER LONG-TERM LIABILITIES	3	8	3	0	—
Total liabilities	461	407	482	382	235
COMMITMENTS AND CONTINGENCIES (Note 18)	—	—	—	—	—
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively	0	0	0	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized, 104,310,266 and 102,994,958 shares issued and outstanding, respectively	104,000	103,000	109,000	114,000	103,000
Additional paid-in capital	898	885	929	971	845
Accumulated deficit	−68	−69	69	−17	−19
Total shareholders equity	830	816	998	954	826
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	1,291	1,224	1,480	1,336	1,061

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	175	224	220	128	133
Deferred income tax expense (benefit)	4	−33	28	4	−14
Amortization of deferred financing origination and debt issuance costs	500,000	400,000	400,000	800,000	500,000
Stock-based compensation	17	17	14	22	12
Provision for credit losses	0	0	34,000	202,000	282,000
Loss (gain) on disposal of assets and businesses, net	12	−5	34	—	—
Unrealized (gain) loss on short-term investment	−2	−105,000	3	2	0
Business acquisition contingent consideration adjustments	−5	−3	0	—	—
Accounts receivable	−5	51	−12	−67	−44
Other current assets	913,000	−2	−831,000	354,000	310,000
Inventories	3	2	−6	124,000	−1
Prepaid expenses	−2	1	−6	743,000	4
Accounts payable	10	−65	−11	27	52
Accrued and other current liabilities	23	−11	27	23	1
Net cash provided by operating activities	232	252	375	300	155
Capital expenditures	−186	−140	−371	−320	−144
Business acquisitions, net of cash acquired	0	−21	−22	−39	0
Proceeds from sale of assets	24	6	9	9	39
Proceeds from note receivable from sale of business	13	0	0	—	—
Net cash used in investing activities	−150	−155	−384	−350	−104
Proceeds from borrowings	0	0	30	30	0
Repayments of borrowings	0	0	−15	0	0
Payments of finance lease obligations	−19	−18	−5	0	0
Repayments of equipment financing term loans	−4	0	0	0	0
Repayments of insurance financing	−5	−970,000	0	—	—
Payment of financing origination and debt issuance costs	−3	0	−1	−824,000	0
Payment of business acquisition deferred cash consideration	−7	0	0	—	—
Tax withholdings paid for net settlement of equity awards	−4	−2	−4	−4	−6
Share repurchases	0	−59	−52	0	0
Payment of excise taxes on share repurchases	−531,000	−444,000	0	0	—
Net cash used in financing activities	−41	−80	−46	26	−7
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	41	17	−56	−23	43

Filings

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