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Propetro Holding
(NYSE:PUMP)
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Rating:60Neutral
Price Target:
$15.00
▲(7.45% Upside)
Action:Reiterated
Date:05/23/26
The score is driven primarily by solid financial durability from low leverage, offset by weak near-term fundamentals (sharp TTM revenue decline, net loss, and slightly negative free cash flow). Technicals are a notable positive with a strong trend above key moving averages. Valuation is pressured by negative earnings, and the latest earnings call adds risk due to sharply higher 2026 capex guidance and weakened near-term cash flow despite strategic progress in PROPWR.
Positive Factors
Low leverage / strong balance sheet
A very low debt-to-equity (~0.09) gives ProPetro durable financial flexibility in a cyclical services industry. This conservatism reduces bankruptcy and rollover risk, supports access to capital for PROPWR and fleet investments, and cushions against demand troughs while enabling disciplined deployment of growth capex.
Negative Factors
Sharp revenue decline and recent net loss
A nearly 30% TTM revenue decline and a small net loss reflect structural demand weakness and cyclicality that undermine self-funded growth. Persistent top-line weakness erodes margins, reduces retained earnings, and increases dependency on external capital to sustain investments like PROPWR over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
A very low debt-to-equity (~0.09) gives ProPetro durable financial flexibility in a cyclical services industry. This conservatism reduces bankruptcy and rollover risk, supports access to capital for PROPWR and fleet investments, and cushions against demand troughs while enabling disciplined deployment of growth capex.
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
$1.76B
Dividend YieldN/A
Average Volume (3M)5.26M
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth-15.55%
EPS Growth91.88%
CountryUS
Employees1,900
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-0.11
Shares Outstanding122,616,974
10 Day Avg. Volume5,087,066
30 Day Avg. Volume5,257,974
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 Cap1.05
Enterprise Value/Revenue1.57
Enterprise Value/Gross Profit18.98
Enterprise Value/Ebitda11.31
Forecast
1Y Price Target
$19.40Price Target Upside38.97% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.03
Revenue Forecast (FY)$1.22B
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 primarily makes money by contracting with oil and gas exploration and production (E&P) companies to perform hydraulic fracturing and associated completion work on wells. Revenue is generated from providing fracturing “crews” (horsepower/e...
Propetro Holding Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The call balanced meaningful long‑term strategic progress—principally the Caterpillar framework agreement, a growing PROPWR commercial pipeline, fleet modernization, and healthy liquidity—with notable near‑term financial pressures including a 7% revenue decline, a 29% drop in adjusted EBITDA, a $4M net loss, and a significant increase in 2026 capex guidance. Management emphasized execution discipline, multiple financing options, and operational wins (e.g., data center deployment underway), but near‑term cash flow and elevated capex/financing needs remain risks.Positive Updates
Strategic Caterpillar Framework Agreement
Signed a framework agreement enabling PROPWR to acquire up to ~2.1 GW of additional power generation capacity over 5 years; combined with ~550 MW previously ordered, positions PROPWR to have ~2.6 GW of capacity delivered by year-end 2031 and fully deployed in 2032.
Negative Updates
Revenue Decline Quarter‑over‑Quarter
Total revenue for Q1 2026 was $271 million, down 7% versus the prior quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Strategic Caterpillar Framework Agreement
Signed a framework agreement enabling PROPWR to acquire up to ~2.1 GW of additional power generation capacity over 5 years; combined with ~550 MW previously ordered, positions PROPWR to have ~2.6 GW of capacity delivered by year-end 2031 and fully deployed in 2032.
Read all positive updates
Company Guidance
Guidance and key metrics: ProPetro now expects full‑year 2026 capital expenditures incurred of $540–$610 million (up from prior $390–$435M), split roughly $140–$160M for the completions business (including ~$40–$50M for planned buyouts of five FORCE electric fleets beginning late‑2026 through 2028) and approximately $400–$450M for PROPWR (with financing arrangements expected to reduce near‑term cash outflows); equipment cost guidance for PROPWR is ~$1.4–$1.5M per megawatt. PROPWR secured a framework to acquire up to ~2.1 GW of additional capacity over five years (added to ~550 MW previously ordered) positioning ~2.6 GW by year‑end 2031 (fully deployed by 2032); current contracted PROPWR capacity is ~240 MW, with advanced negotiations for ~100 MW of oil & gas microgrids (deploying later this year) and several‑hundred‑MW data center opportunities in the pipeline. Operational and near‑term fleet guidance: run ~12 fleets in Q2 (vs ~11 in Q1), ~75% of the fleet is next‑generation, Tier‑4 DGB and FORCE electric fleets are sold out, with a few Tier‑2 diesel fleets available for deployment if economics meet return thresholds. Q1 financials referenced alongside guidance: revenue $271M (‑7% q/q), net loss $4M (‑$0.03/sh) vs prior quarter net income $1M ($0.01/sh), adjusted EBITDA $36M (13% of revenue, down 29% q/q, including $16M of electric fleet lease expense), net cash from operations $3M (vs $81M prior); Q1 capex paid $43M and incurred $85M ($14M completions, ~$71M PROPWR); March 31 cash $157M and total liquidity $289M (including $132M available under the ABL).Propetro Holding Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.18B | 1.27B | 1.44B | 1.63B | 1.28B | 874.51M |
| Gross Profit | 97.58M | 126.09M | 167.04M | 317.71M | 268.77M | 78.87M |
| EBITDA | 163.79M | 190.96M | 50.30M | 301.70M | 137.10M | 65.55M |
| Net Income | -12.42M | 824.00K | -137.86M | 85.63M | 2.03M | -54.19M |
Balance Sheet | ||||||
| Total Assets | 1.41B | 1.29B | 1.22B | 1.48B | 1.34B | 1.06B |
| Cash, Cash Equivalents and Short-Term Investments | 156.65M | 91.33M | 58.29M | 41.10M | 99.14M | 111.92M |
| Total Debt | 187.12M | 248.87M | 175.42M | 148.58M | 33.16M | 466.00K |
| Total Liabilities | 420.74M | 461.05M | 407.37M | 481.92M | 381.75M | 234.93M |
| Stockholders Equity | 988.67M | 829.84M | 816.27M | 998.39M | 954.03M | 826.30M |
Cash Flow | ||||||
| Free Cash Flow | -11.17M | 42.48M | 112.00M | 3.87M | -19.25M | 11.19M |
| Operating Cash Flow | 177.60M | 228.80M | 252.29M | 374.74M | 300.43M | 154.71M |
| Investing Cash Flow | -157.84M | -149.81M | -155.10M | -384.13M | -349.75M | -104.29M |
| Financing Cash Flow | 73.49M | -38.10M | -80.11M | -46.12M | 26.26M | -7.28M |
Propetro Holding Technical Analysis
Positive
13.96
Price Trends
15.91
Negative
14.45
Positive
11.47
Positive
Market Momentum
-0.37
Positive
45.68
Neutral
47.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PUMP, the sentiment is Positive. The current price of 13.96 is below the 20-day moving average (MA) of 15.12, below the 50-day MA of 15.91, and above the 200-day MA of 11.47, indicating a neutral trend. The MACD of -0.37 indicates Positive momentum. The RSI at 45.68 is Neutral, neither overbought nor oversold. The STOCH value of 47.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $3.02B | 45.10 | 6.70% | ― | 8.99% | -19.14% | |
75 Outperform | $115.79M | 5.94 | 16.53% | ― | 6.81% | 122.00% | |
67 Neutral | $543.49M | 24.75 | 7.99% | 0.63% | 11.28% | 27.38% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $1.76B | -124.35 | -1.43% | ― | -15.55% | 91.88% | |
56 Neutral | $4.27B | 28.08 | 7.39% | 1.78% | -4.02% | -39.84% | |
54 Neutral | $482.15M | -4.14 | -17.52% | ― | -4.50% | -2286.91% |
* Energy Sector Average
PUMP
Propetro Holding
14.34
8.13
130.92%
NGS
Natural Gas Services Group
43.14
17.82
70.39%
OIS
Oil States International
8.01
2.54
46.44%
NCSM
Ncs Multistage Holdings
44.12
14.51
49.00%
LBRT
Liberty Energy
26.19
14.48
123.65%
NESR
National Energy Services Reunited
29.93
23.54
368.39%
Propetro Holding Corporate Events
Business Operations and StrategyExecutive/Board Changes
ProPetro Board Restructures Following Strategic Investor’s Exit
Neutral
Jun 1, 2026
On May 28, 2026, ProPetro Holding Corp. disclosed that director Alex V. Volkov resigned from its board following changes in its shareholder base. In conjunction with his departure, the company reduced the size of its board from eight to seven memb...
Executive/Board ChangesShareholder Meetings
ProPetro Shareholders Approve Incentive Plan and Board Slate
Positive
May 22, 2026
On April 7, 2026, ProPetro Holding Corp.’s board approved, subject to shareholder consent, a third amended and restated 2020 Long Term Incentive Plan aimed at updating its equity-based compensation framework. At the company’s annual me...
Business Operations and StrategyPrivate Placements and Financing
ProPetro Upsizes Convertible Notes in Private Offering
Positive
May 7, 2026
On May 4, 2026, ProPetro priced an upsized private offering of $600 million of 0.00% convertible senior notes due 2031, increased from a previously planned $500 million, with settlement closing on May 7, 2026, and an option for initial purchasers ...
Business Operations and StrategyPrivate Placements and Financing
ProPetro Announces Convertible Notes Offering and Credit Expansion
Positive
May 4, 2026
On May 4, 2026, ProPetro announced plans to raise $500 million through a private offering of convertible senior notes due 2031, with an option for initial purchasers to buy an additional $75 million, as part of a broader effort to optimize its cap...
Business Operations and StrategyFinancial Disclosures
ProPetro Expands Power Capacity Amid Weaker Quarterly Results
Negative
Apr 30, 2026
On April 28, 2026, ProPetro subsidiary ProPetro Energy Solutions entered a Global Framework Agreement with Caterpillar under which Caterpillar will reserve about 1.5 gigawatts of incremental power generation capacity, with ProPetro committing to p...
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.