Latest Ratios: P/E Ratio 1256.4x · EV/EBITDA 7.0x · ROE 0.1%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.0B | $984M | $950M | $1.1B | $832M | $745M | $1.2B | $1.1B | $1.6B | — |
| Enterprise Value | $1.4B | $1.2B | $1.1B | $1.1B | $1.1B | $720M | $677M | $1.2B | $1.0B | $1.7B | — |
| P/E Ratio → | 1256.41 | 1219.23 | — | 11.03 | 545.79 | — | — | 7.17 | 6.16 | 126.00 | — |
| P/S Ratio | 0.95 | 0.79 | 0.68 | 0.58 | 0.87 | 0.95 | 0.94 | 0.57 | 0.63 | 1.63 | — |
| P/B Ratio | 1.24 | 1.21 | 1.21 | 0.95 | 1.16 | 1.01 | 0.86 | 1.20 | 1.34 | 3.88 | — |
| P/FCF | 28.28 | 23.59 | 8.79 | 245.40 | — | 74.30 | 19.34 | — | 9.85 | — | — |
| P/OCF | 5.25 | 4.38 | 3.90 | 2.54 | 3.69 | 5.37 | 5.36 | 2.56 | 2.73 | 14.68 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.91 | 0.77 | 0.65 | 0.82 | 0.82 | 0.86 | 0.56 | 0.59 | 1.68 | — |
| EV / EBITDA | 7.03 | 6.00 | 24.77 | 3.42 | 8.39 | 11.13 | 30.71 | 3.14 | 3.14 | 20.27 | — |
| EV / EBIT | 73.35 | 72.23 | — | 8.82 | 117.15 | — | — | 5.22 | 4.35 | 71.61 | — |
| EV / FCF | — | 27.30 | 9.90 | 275.15 | — | 64.34 | 17.58 | — | 9.27 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.9% | 9.9% | 11.6% | 19.5% | 21.0% | 9.0% | 6.5% | 21.3% | 20.3% | 11.4% | -2.5% |
| Operating Margin | 1.5% | 1.5% | -11.6% | 8.0% | -0.2% | -7.9% | -16.6% | 10.8% | 13.6% | 2.5% | -15.4% |
| Net Profit Margin | 0.1% | 0.1% | -9.5% | 5.3% | 0.2% | -6.2% | -13.6% | 7.9% | 10.2% | 1.3% | -12.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.1% | 0.1% | -15.2% | 8.8% | 0.2% | -6.4% | -11.6% | 18.5% | 28.7% | 4.0% | -36.6% |
| ROA | 0.1% | 0.1% | -10.2% | 6.1% | 0.2% | -5.1% | -8.6% | 12.0% | 17.4% | 2.0% | -10.8% |
| ROIC | 1.4% | 1.4% | -12.2% | 9.7% | -0.2% | -6.8% | -11.2% | 19.7% | 29.2% | 5.0% | -18.3% |
| ROCE | 1.8% | 1.8% | -15.1% | 11.5% | -0.3% | -7.5% | -12.2% | 20.8% | 33.3% | 5.6% | -18.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.30 | 0.30 | 0.21 | 0.15 | 0.03 | 0.00 | 0.00 | 0.14 | 0.09 | 0.18 | 0.80 |
| Debt / EBITDA | 1.29 | 1.29 | 3.92 | 0.48 | 0.26 | 0.01 | 0.04 | 0.37 | 0.22 | 0.89 | — |
| Net Debt / Equity | — | 0.19 | 0.15 | 0.12 | -0.06 | -0.13 | -0.08 | -0.02 | -0.08 | 0.12 | 0.19 |
| Net Debt / EBITDA | 0.81 | 0.81 | 2.79 | 0.37 | -0.44 | -1.72 | -3.08 | -0.04 | -0.20 | 0.60 | — |
| Debt / FCF | — | 3.71 | 1.12 | 29.75 | — | -9.96 | -1.76 | — | -0.58 | — | — |
| Interest Coverage | 1.95 | 1.95 | -20.66 | 22.76 | 5.60 | -110.46 | -55.44 | 30.90 | 33.68 | 3.14 | -2.98 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.29 | 1.29 | 1.31 | 1.15 | 1.16 | 1.44 | 1.61 | 1.61 | 0.99 | 0.97 | 1.66 |
| Quick Ratio | 1.24 | 1.24 | 1.24 | 1.08 | 1.14 | 1.42 | 1.58 | 1.60 | 0.97 | 0.94 | 1.63 |
| Cash Ratio | 0.36 | 0.36 | 0.26 | 0.15 | 0.35 | 0.64 | 0.66 | 0.64 | 0.38 | 0.10 | 0.84 |
| Asset Turnover | — | 0.98 | 1.18 | 1.10 | 0.96 | 0.82 | 0.75 | 1.43 | 1.34 | 1.37 | 0.81 |
| Inventory Turnover | 85.80 | 85.80 | 79.03 | 74.14 | 200.82 | 201.48 | 270.27 | 663.24 | 213.87 | 140.60 | 94.99 |
| Days Sales Outstanding | — | 57.73 | 49.53 | 53.06 | 61.59 | 53.49 | 38.96 | 37.74 | 43.46 | 74.22 | 96.22 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.1% | 0.1% | — | 9.1% | 0.2% | — | — | 14.0% | 16.2% | 0.8% | — |
| FCF Yield | 3.5% | 4.2% | 11.4% | 0.4% | — | 1.3% | 5.2% | — | 10.2% | — | — |
| Buyback Yield | 0.0% | 0.0% | 6.0% | 5.4% | 0.0% | 0.7% | 0.1% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 6.0% | 5.4% | 0.0% | 0.7% | 0.1% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $105M | $105M | $113M | $107M | $103M | $101M | $104M | $87M | $80M | $80M |
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying PUMP stock.
ProPetro Holding Corp.'s current P/E ratio is 1256.4x. The historical average is 37.6x. This places it at the 100th percentile of its historical range.
ProPetro Holding Corp.'s current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.3x.
ProPetro Holding Corp.'s return on equity (ROE) is 0.1%. The historical average is -6.9%.
Based on historical data, ProPetro Holding Corp. is trading at a P/E of 1256.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ProPetro Holding Corp. has 9.9% gross margin and 1.5% operating margin.
ProPetro Holding Corp.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Permian pricing and utilization pressure
Metrics are mathematically derived from official filings.
Margins Squeezed by Fleet Transition
Gross margin compressed to 9.3% in Q2 2026 from 13.0% a year earlier, as per reported financials, while operating margin turned negative at -1.6%, indicating persistent pricing and cost pressures.
The sequential improvement from Q1 2026's 6.8% gross margin suggests some stabilization, but the year-over-year decline highlights a structurally weaker pricing environment. The negative operating margin implies fixed costs are not fully covered, and the company's reliance on utilization is evident. The transition to electric fleets may eventually lower costs, but current margins do not yet reflect those benefits.
Returns Decay Amid Heavy Capex
ROIC turned negative at -0.3% in Q2 2026, down from +2.0% in Q1 2024, as per reported figures, indicating that capital investments are not yet generating adequate returns.
The negative ROIC across recent quarters suggests that the capital base is expanding faster than operating income, a common issue during fleet modernization. The 2024Q3 impairment (ROIC -13.2%) reset the earnings base, but subsequent quarters have not recovered to pre-impairment levels. Investors should monitor whether the new electric fleets can drive ROIC back to positive territory as utilization improves.
Working Capital Stretch Signals Leverage
Cash conversion cycle lengthened to 36 days in Q2 2026 from 15 days in Q1 2024, as per reported data, driven by slower collections and extended payment terms, suggesting increased customer leverage.
DSO rose to 69 days from 57 days over the same period, while DPO increased to 39 days from 47 days, indicating that ProPetro is collecting receivables more slowly and paying suppliers faster. This deterioration in working capital efficiency may reflect larger, consolidated customers exerting pricing power. The modest DIO of 6 days suggests inventory is not a major drag, but the overall CCC trend warrants monitoring.
Debt-Fueled Cash Distorts Leverage
Debt-to-equity spiked to 0.90 in Q2 2026 from 0.30 in Q4 2025, while interest coverage fell to 0.27, as per balance sheet data, indicating a significant increase in financial risk.
The $670.8M debt increase, largely to fund fleet expansion and an acquisition, has lifted leverage to levels not seen in the prior eight quarters. Interest coverage of 0.27 suggests operating income is insufficient to cover interest expenses, though the large cash balance of $784.0M provides a temporary cushion. The D/EBITDA of 22.17 is elevated, but this is partly due to depressed EBITDA; investors should monitor whether EBITDA recovers as new fleets ramp.
Cash Buffer Masks Debt Dependency
Current ratio improved to 4.09 in Q2 2026 from 1.29 in Q4 2025, but the $784.0M cash is largely offset by $857.9M debt, as per reported figures, suggesting liquidity is less robust than it appears.
The quick ratio of 4.00 indicates ample short-term assets to cover liabilities, but this is driven by debt proceeds rather than operational cash generation. Under a severe downturn, the cash could be consumed by debt service and capex commitments, leaving limited flexibility. The reliance on debt to fund liquidity is a key risk, especially if refinancing conditions tighten.
EV/EBITDA Misleads in Cyclical Downturn
EV/EBITDA of 8.00 appears reasonable, but with EBITDA near zero, the multiple is distorted, as per reported figures, obscuring the true earnings power of the asset base.
In capital-intensive, cyclical industries, EV/EBITDA can be misleading when EBITDA is depressed. ProPetro's current EV/EBITDA of 8.00 is based on trailing twelve-month EBITDA that is artificially low due to the downturn and one-time costs. A more appropriate metric is EV/Installed Horsepower or EV/Normalized EBITDA, which smooths cyclicality. Investors should also consider P/B of 1.44, which may better reflect the replacement value of the fleet.