ProPetro Holding Corp
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever holds ProPetro today owns a strong balance sheet and a competent crew, and is betting that PROPWR converts $1.1 billion of generators into contracted megawatt revenue before the frac downturn, the XTO fleets coming free in late 2026 and the next Tier II write-down eat the cushion that makes the bet payable. Whoever buys today at about three times a 2027 estimate is paying for a fifty-fold earnings increase in eighteen months and two simultaneous recoveries — the Permian and the power book — from a company whose last seven years netted below zero. Whoever waits will pay more if both work, and will see in the coming quarterly reports the one number that settles it: committed megawatts against megawatts on order. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
ProPetro is a well-run company in a business that does not reward being well run. The balance sheet is genuinely sound ($122.6 million of debt against $829.8 million of equity, Altman Z 6.29), the operators are disciplined, the customers are blue-chip — and yet the annual results from 2019 through 2025, a complete cycle, add up to a cumulative loss of $47.6 million. The reason is visible in the cash flow statement: in 2025 the equipment cost $281.2 million while the business produced $231.6 million, and the 2026 plan is 2.5 times that cash flow. Management's answer is an escape attempt — a $1,106.0 million minimum order for power generators, roughly two thirds of the market value, for a segment that billed $2.2 million last quarter. The chart, the scanner and the CEO are all buying the escape. The seven-year record is the thing being escaped from. Not investment advice.
Operating quality
A disciplined, competent operator: fleets were idled rather than run "at sub-economic levels" (15 down to 11 during 2025), wireline grew 15.6 percent in Q1 2026 against a collapsing frac market, and 60 percent of the 1,259,500 hydraulic horsepower is now lower-emission equipment (445,000 Tier IV dual-fuel, 312,000 FORCE electric). Customers are the best-capitalized producers in the basin (annual report 10-K for 2025).
Balance sheet
Unusually solid for the industry: $122.6 million of total debt against $829.8 million of equity and $91.3 million of cash (December 31, 2025); no revolver borrowings, $156.6 million of cash and $289.3 million of total liquidity as of March 31, 2026; Altman Z-score 6.29 (data as of July 8, 2026). This is the asset that makes the PROPWR bet possible at all.
Earnings power across the cycle
The decisive finding: net results from 2019 through 2025 — a complete cycle — add up to minus $47.6 million (SEC XBRL, us-gaap:NetIncomeLoss). The 2025 profit of $0.8 million equals 0.06 percent of revenue; Q1 2026 was a $3.6 million loss. Roughly $830 million to $1 billion of equity was tied up throughout. The good years did not pay for the bad ones.
Capital intensity & reinvestment
The treadmill is measurable: $281.2 million of capital expenditures incurred in 2025 against $231.6 million of operating cash flow (121 percent, after 83 percent in 2023 and 53 percent in 2024), funded partly by a January 2026 equity raise of 17.25 million shares at $10.00 and $81.1 million of vendor financing. The 2026 plan of $540–610 million is about 2.5 times the 2025 cash flow. The 2024 write-down of $188.6 million on Tier II diesel pumps (carrying value $252.4 million to a fair value of $63.8 million) shows why the spending never stops.
Customer concentration
Top five customers 68.2 percent of 2025 revenue and rising (2024: 58.8 percent), ExxonMobil alone 24.9 percent — and the company itself states it does not expect the XTO agreement covering two of its eleven active fleets to be renewed beyond late 2026. Customer consolidation (ExxonMobil/Pioneer, May 2024) removes bidders rather than adding volume (annual report 10-K for 2025, Item 1A).
The PROPWR bet
Genuinely both things at once. The opportunity is real — contracted power per megawatt is a structurally better business than per-job fracking, demand for behind-the-meter power in Texas is real, and 240 megawatts are already committed. The size is the problem: a minimum purchase obligation of about $1,106.0 million (Caterpillar, April 28, 2026) against a market value of roughly $1.65 billion, for a segment that billed $2.2 million in Q1 2026, consumed 84 percent of that quarter's capex, and has no contracted customer for roughly 56 percent of the 550 megawatts on order.
Worth Noting
PUMP reached our research list via the Reddit hype scanner (ApeWisdom, 3 mentions in 24 hours, as of July 16, 2026) — the forums have barely noticed this stock; the 128 percent twelve-month rally ran without them. The 13 hits in our in-house stock scanner carry the July 8, 2026 data cut-off and rotate daily; notably, all 13 are strength filters while the fundamental grade is C and the EPS rating 14 of 99.
The cycle figures (2019–2025) were taken from ProPetro's own machine-readable SEC filings (XBRL, us-gaap:NetIncomeLoss) rather than from secondary data, and each year was checked against the annual report in which it was reported. Note that "capital expenditures incurred" ($281.2 million in 2025) is the company's own measure and includes vendor-financed equipment; the cash actually paid was $186.3 million, which is the figure most data feeds show.
Price and valuation figures are dated to July 16, 2026 (about $13.43, market value roughly $1.65 billion); scanner, estimate and analyst data to July 8, 2026. Analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at PUMP since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 4.80 $ to 18.20 $ · Last price: 10.50 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Oil & Gas Equipment & Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| ProPetro Holding Corp PUMP | 1.3 | – | 8.1 | 22.7 | – | -12.1 | 119.3 |
| Schlumberger NV SLB | 77.5 | 22.2 | 13.2 | 17.0 | 12.3 | -1.6 | 53.4 |
| Baker Hughes Co BKR | 56.1 | 17.9 | 11.2 | 23.7 | 12.3 | -0.3 | 23.6 |
| Tenaris SA TS | 30.3 | 15.1 | 8.3 | 38.5 | 16.7 | -4.3 | 60.6 |
| TechnipFMC PLC FTI | 29.0 | 26.6 | 14.5 | 23.0 | 14.1 | 9.4 | 87.2 |
| Halliburton Company HAL | 28.5 | 18.0 | 9.8 | 15.1 | 12.6 | -3.3 | 57.0 |
| NOV Inc. NOV | 7.3 | 78.5 | 11.0 | 21.7 | 2.3 | -1.4 | 62.6 |
| Solaris Energy Infrastructure, Inc SEI | 6.8 | – | 23.5 | 49.9 | 25.8 | 98.7 | 109.9 |
| LandBridge Company LLC LB | 6.6 | 76.0 | 19.8 | 98.8 | 66.1 | 81.1 | 59.6 |
| Median of companies shown | 28.5 | 22.2 | 11.2 | 23.0 | 13.3 | -1.4 | 60.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 437 | -67 | -53 | -0.66 | 11 | 221 | 541 |
| 2017 | 982 | 24 | 13 | 0.16 | 109 | 413 | 719 |
| 2018 | 1,705 | 233 | 174 | 2.00 | 393 | 797 | 1,275 |
| 2019 | 2,052 | 221 | 163 | 1.57 | 455 | 969 | 1,436 |
| 2020 | 789 | -131 | -107 | -1.06 | 139 | 871 | 1,051 |
| 2021 | 875 | -69 | -54 | -0.53 | 155 | 826 | 1,061 |
| 2022 | 1,280 | -3 | 2 | 0.02 | 300 | 954 | 1,336 |
| 2023 | 1,630 | 130 | 86 | 0.76 | 375 | 998 | 1,480 |
| 2024 | 1,444 | -167 | -138 | -1.31 | 252 | 816 | 1,224 |
| 2025 | 1,269 | 19 | 1 | 0.01 | 229 | 830 | 1,291 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.17 | – | 321 | -7.80 | -5.30 | 38 | 10 |
| 2025: Q1 | 0.09 | -50.00 | 359 | -11.40 | 2.70 | 55 | 14 |
| 2025: Q2 | -0.07 | – | 326 | -8.60 | -2.20 | 54 | 17 |
| 2025: Q3 | -0.02 | – | 294 | -18.60 | -0.80 | 42 | -2 |
| 2025: Q4 | 0.01 | – | 290 | -9.60 | 0.30 | 79 | 15 |
| 2026: Q1 | -0.03 | -134.10 | 271 | -24.70 | -1.30 | 3 | -41 |
| 2026: Q2 | -0.07 | 0.00 | 306 | -6.30 | -2.60 | 66 | 5 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 12 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- High ADR (≥5%)
- Mike Webster: Swing Trading List
- RS Leader (≥90)
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.03 | -0.28 – 0.14 | 1,231 | -446.4% | 9 |
| 12/31/2027 | 0.41 | 0.07 – 0.85 | 1,449 | 1,269.8% | 8 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Erneut geprüft am 16.07.2026 gegen den Geschäftsbericht (10-K) 2025 (eingereicht 19.02.2026) und den jüngsten Quartalsbericht (10-Q) per 31.03.2026 (eingereicht 30.04.2026): In den ausgewerteten SEC-Filings von ProPetro (Oilfield-Services im Permian-Becken — Hydraulic Fracturing 73,2 %, Wireline 16,5 %, Cementing 10,3 %, Stromerzeugung PROPWR 0 % des Umsatzes 2025) findet sich weiterhin kein wesentlicher eigener KI-Bezug: keine KI-Produkte oder -Dienste als Umsatzquelle, kein belegter operativer KI-Einsatz, kein konkretes KI-Geschäftsrisiko fürs eigene Modell. Die vier KI-Erwähnungen im 10-K 2025 sind sämtlich generisch oder Marktkontext: (1) eine Boilerplate-Floskel zu KI-generierten Deepfakes im Cybersicherheits-Risikoabschnitt, (2) ein Listeneintrag „technical advances affecting energy consumption, including resulting from artificial intelligence“ in den Forward-Looking-Faktoren, (3) ein pauschaler Wettbewerbs-Risikofaktor zu neuen Technologien „including AI“ ohne KI-spezifischen Bezug zum Frac-Geschäft (nach Kriterienkatalog Boilerplate, also kein „bedroht“-Beleg), und (4) der Hinweis, dass die wachsende KI-Nutzung die Stromnachfrage von Rechenzentren erhöht. Der 10-Q per 31.03.2026 enthält null KI-Erwähnungen. Neu seit der Vor-Einstufung: Am 28.04.2026 hat die Tochter PROPWR ein Rahmenabkommen mit Caterpillar über rund 1,5 Gigawatt Stromerzeugungsanlagen mit einer Mindestabnahmeverpflichtung von rund 1.106,0 Mio. US-Dollar geschlossen; adressierter Endmarkt sind ausdrücklich auch Rechenzentren. Das verstärkt das KI-nahe Endmarkt-Narrativ erheblich, bleibt aber der Verkauf von Strom bzw. Stromerzeugungs-Dienstleistungen und kein Verkauf eigener KI-Produkte — Endmarkt-Exponierung allein begründet nach Kriterienkatalog kein „verkauft“ (analog zur Einstufung von ALNT). Befund gegenüber der Vor-Einstufung vom 10.07.2026 bestätigt.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-02-19 · 10-Q 2026-04-30 · 10-K 2025-02-20
Rated on July 16, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -0.3%
- More than 10% revenue growth is expected for the coming year 18.6%
- Share count grows by less than 3% a year -0.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -8.8%
- Gross margin at 40% or higher and without meaningful erosion 9.9%
- Goodwill from acquisitions does not grow faster than revenue 0.1%
- Net debt below twice EBITDA 0.8 x EBITDA
- Operating cash flow covers the profits of the last three years 907 m
- Return on capital at 15% or higher, or up versus two years ago 1.8%
- Insiders hold at least 10% or are net buyers 7.0%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 12.6%
- Exp. sales growth 3Y > 5% 6.8%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 620.8%
- Net debt < 4x EBIT 8.5x
- EBIT positive, 10Y straight 5
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 0.1%
- ROCE > 15% 1.8%
- Expected return > 10% 644.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 4, 2026 | Davila Celina A | Chief Accounting Officer | Other | 485 | 11.10 | 5,384 |
| Sep 4, 2026 | Davila Celina A | Chief Accounting Officer | Other | 1,990 | – | – |
| Aug 5, 2026 | Gobe Phillip A | Director | Other | 15,000 | 0.00 | – |
| Aug 4, 2026 | Munoz Adam | President and COO | Sell | 70,696 | 11.17 | 789,674 |
| Aug 4, 2026 | Lawrence G Larry | Director | Sell | 35,831 | 11.16 | 399,874 |
| Aug 1, 2026 | Weatherl Caleb Lyle | Chief Financial Officer | Other | 8,156 | 11.10 | 90,532 |
| Aug 1, 2026 | Weatherl Caleb Lyle | Chief Financial Officer | Other | 33,494 | – | – |
The company
About the Company
ProPetro Holding Corp. ist ein integriertes Energiedienstleistungsunternehmen.
- CEO Insider Trades (12 Mo.)
- buying own stock
- Employees
- 1,700
- Headquarters
- Midland, TX
- Address
- One Marienfeld Place, 79701 Midland, United States
- Phone
- 432 688 0012
- Website
- propetroservices.com
- IPO Date
- 03/17/2017
- ISIN
- US74347M1080
Management
| Name | Title | Birth Year |
|---|---|---|
| Samuel D. Sledge | CEO & Director | 1987 |
| Adam Munoz | President & COO | 1983 |
| Caleb L. Weatherl | Chief Financial Officer | 1988 |
| Celina A. Davila | Chief Accounting Officer | 1981 |
| John J. Mitchell J.D. | General Counsel & Corporate Secretary | 1983 |
| Shelby Kyle Fietz | Chief Commercial Officer | 1982 |
| Matt Augustine | Director of Corporate Development & Investor Relations | – |
| Travis Simmering | President of PROPWR | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 07/29/2026 ProPetro Holding Corp. (PUMP): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.