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Propetro Holding
(NYSE:PUMP)
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Rating:54Neutral
Price Target:
$10.50
▼(-0.94% Downside)
Action:Reiterated
Date:09/23/26
The score is held back primarily by weak recent profitability and negative/volatile free cash flow, plus a clearly bearish technical trend. Offsetting factors include strong liquidity and improving operational momentum from the earnings call, supported by an additional positive PROPWR contracting event that improves longer-term visibility.
Positive Factors
Strong liquidity
A substantial liquidity position gives ProPetro flexibility to fund fleet investments, support PROPWR expansion, and manage cyclical oilfield-services demand. It also provides a buffer while profitability remains volatile, reducing immediate dependence on external capital to execute the company’s operating plans.
Negative Factors
Weak profitability and declining revenue
A recurring revenue decline combined with a net loss shows that current activity levels and pricing have not yet restored durable profitability. Thin operating earnings leave results sensitive to utilization, pricing, and cost changes, limiting the company’s ability to compound internally generated earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity
A substantial liquidity position gives ProPetro flexibility to fund fleet investments, support PROPWR expansion, and manage cyclical oilfield-services demand. It also provides a buffer while profitability remains volatile, reducing immediate dependence on external capital to execute the company’s operating plans.
Read all positive factors
Propetro Holding Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Shows the recurring operating profit for each business line after removing one-off items, highlighting which segments generate cash, where margins are strongest, and how well the company can absorb oilfield activity swings.
Shows the recurring operating profit for each business line after removing one-off items, highlighting which segments generate cash, where margins are strongest, and how well the company can absorb oilfield activity swings.
Data provided by:
The Fly
The FlyPropetro Holding (PUMP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.14B
Dividend YieldN/A
Average Volume (3M)3.57M
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth-15.14%
EPS Growth92.26%
CountryUS
Employees1,700
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-0.11
Shares Outstanding122,823,910
10 Day Avg. Volume4,431,439
30 Day Avg. Volume3,568,701
Financial Highlights & Ratios
PEG Ratio-11.97
Price to Book (P/B)1.19
Price to Sales (P/S)0.78
P/FCF Ratio23.24
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$16.00Price Target Upside50.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.04
Revenue Forecast (FY)$1.23B
Propetro Holding Business Overview & Revenue Model
Company Description
Based in Midland, Texas, ProPetro Holding Corp. is a dedicated provider of oilfield services. The company primarily specializes in hydraulic fracturing, offering essential support for oil and gas exploration and production. Beyond fracturing, its ...
How the Company Makes Money
ProPetro makes money by contracting with exploration and production (E&P) companies to perform hydraulic fracturing and completion work on oil and gas wells. Its primary revenue stream is providing fracturing “fleets” (pressure pumping equipment, ...
Propetro Holding Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational and financial momentum: sequential revenue (+13%) and adjusted EBITDA (+23%) growth, a large improvement in operating cash flow, robust liquidity, and meaningful commercial and operational progress at PROPWR (350 MW committed, live 60 MW data center deployment, positive recent EBITDA). These positives are tempered by a larger net loss, quarter-specific operational disruptions (weather, downtime, fleet stand-up), lease expense for electric fleets (~$16M), longer-than-expected data center contracting timelines, and timing shifts on some buyouts. On balance, management portrays improving market fundamentals, tight industry supply supporting pricing, and a well-funded plan to scale PROPWR while preserving balance sheet strength.Positive Updates
Revenue Growth
Total revenue of $306 million in Q2 2026, a sequential increase of 13% versus the prior quarter.
Negative Updates
Net Loss and Sequential Deterioration
Net loss increased to $8 million (loss per diluted share $0.07) from $4 million (loss per diluted share $0.03) in the prior quarter (net loss doubled sequentially).
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Total revenue of $306 million in Q2 2026, a sequential increase of 13% versus the prior quarter.
Read all positive updates
Company Guidance
Management reiterated 2026 financial and operational guidance: full‑year capital expenditures incurred are now expected at $525–$595 million (down from $540–$610M), with completions CapEx of about $125–$145M (vs. prior $140–$160M) and PROPWR CapEx of ~$400–$450M; prior equipment cost guidance of ~$1.4–$1.5M per megawatt (inclusive of balance of plant) and portfolio payback targets of 4–6 years remain unchanged. In Q2 ProPetro reported revenue of $306M (+13% seq.), a net loss of $8M (‑$0.07/sh), adjusted EBITDA of $45M (15% of revenue, +23% seq., including ~$16M of electric fleet lease expense), operating cash flow of $66M, CapEx paid of $61M (CapEx incurred $71M: ~$24M completions, ~$47M PROPWR), cash of $784M and total liquidity of $905M (including $121M ABL availability and $130M drawn under Caterpillar financing, upsized to a $167M cap). PROPWR commercial progress increased contracted capacity from ~240MW to 350MW (including ~110MW across two projects and >100MW in advanced negotiations), the company has ~1.1GW of equipment ordered/delivered toward a multi‑GW target (~2.6GW), PROPWR generated positive EBITDA in the last two months of the quarter and is expected to produce increasingly meaningful earnings in H2‑2026 into 2027. Finally, completions fleets rose from 11 to 12 with a 13th fleet expected to begin contributing late Q3, most active frac horsepower is contracted with renewals over the next 6–9 months, and the Permian fleet count is estimated in the mid‑70s (difficult to exceed mid‑80s without significant new investment).Propetro Holding Financial Statement Overview
Summary
Income Statement
47
Neutral
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.16B | 1.27B | 1.44B | 1.63B | 1.28B | 874.51M |
| Gross Profit | 96.27M | 126.09M | 167.04M | 317.71M | 268.77M | 78.87M |
| EBITDA | 167.74M | 190.96M | 50.30M | 301.70M | 137.10M | 65.55M |
| Net Income | -13.38M | 824.00K | -137.86M | 85.63M | 2.03M | -54.19M |
Balance Sheet | ||||||
| Total Assets | 2.06B | 1.29B | 1.22B | 1.48B | 1.34B | 1.06B |
| Cash, Cash Equivalents and Short-Term Investments | 783.96M | 91.33M | 58.29M | 41.10M | 99.14M | 111.92M |
| Total Debt | 857.89M | 248.87M | 175.42M | 148.58M | 33.16M | 466.00K |
| Total Liabilities | 1.10B | 461.05M | 407.37M | 481.92M | 381.75M | 234.93M |
| Stockholders Equity | 957.42M | 829.84M | 816.27M | 998.39M | 954.03M | 826.30M |
Cash Flow | ||||||
| Free Cash Flow | -22.48M | 42.48M | 112.00M | 3.87M | -19.25M | 11.19M |
| Operating Cash Flow | 190.51M | 228.80M | 252.29M | 374.74M | 300.43M | 154.71M |
| Investing Cash Flow | -180.50M | -149.81M | -155.10M | -384.13M | -349.75M | -104.29M |
| Financing Cash Flow | 699.11M | -38.10M | -80.11M | -46.12M | 26.26M | -7.28M |
Propetro Holding Technical Analysis
Negative
10.60
Price Trends
10.87
Negative
12.84
Negative
12.73
Negative
Market Momentum
-0.64
Positive
35.13
Neutral
21.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PUMP, the sentiment is Negative. The current price of 10.6 is above the 20-day moving average (MA) of 10.26, below the 50-day MA of 10.87, and below the 200-day MA of 12.73, indicating a bearish trend. The MACD of -0.64 indicates Positive momentum. The RSI at 35.13 is Neutral, neither overbought nor oversold. The STOCH value of 21.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PUMP.
Propetro Holding Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | $2.57B | 73.64 | 3.50% | 1.40% | -1.95% | -17.11% | |
57 Neutral | $3.15B | 25.59 | 6.08% | 1.86% | 2.29% | -43.28% | |
55 Neutral | $1.30B | 58.89 | 2.07% | 2.73% | 25.36% | -59.73% | |
54 Neutral | $1.14B | -82.04 | -1.49% | ― | -15.14% | 92.26% | |
49 Neutral | $105.46M | 1.16 | 514.81% | ― | -7.15% | ― | |
48 Neutral | $834.12M | -1.87 | -56.47% | ― | -16.18% | -32.58% |
* Energy Sector Average
PUMP
Propetro Holding
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68.24%
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Propetro Holding Corporate Events
Business Operations and Strategy
ProPetro expands long-term power contracts with Targa
Positive
Sep 22, 2026
On September 22, 2026, ProPetro announced that its PROPWR business unit signed new long-term contracts with a subsidiary of Targa Resources Corp. to commit approximately 230 megawatts of power generation capacity. With these agreements, PROPWRR...
Executive/Board Changes
ProPetro Holding Announces Chief Accounting Officer Resignation
Neutral
Sep 21, 2026
On September 16, 2026, ProPetro Holding Corp. announced that Chief Accounting Officer and principal accounting officer Celina Davila notified the company of her intention to resign, effective October 30, 2026. The company stated her decision was n...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.