ProPetro Holding Corp (PUMP)
🔔 Watch stock
ProPetro pumps the wells of the biggest Permian producers — ExxonMobil, Occidental, EOG. The chart is in an uptrend, the CEO is buying, institutions hold 95 percent, and the balance sheet is genuinely sound. We added up the annual reports anyway: from 2019 through 2025 — a full cycle, peak to trough — the company's net results total minus $47.6 million, revenue fell 12 percent in 2025 and almost a quarter in the first quarter of 2026, and in 2025 the equipment cost more than the business brought in. The answer to that is a $1,106.0 million minimum order for power generators. Not investment advice — just the arithmetic of a company that never stops running, and rarely arrives.
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This stock currently matches 11 of our scanner strategies — each hit links to the scanner.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
NeutralErneut 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
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.
Quarterly Figures
| 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 |
- 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.
Assessment: Opportunities & Risks
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).
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.
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.
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.
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).
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.
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.
- 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 a data vendor, 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.
About the Company
ProPetro Holding Corp. ist ein integriertes Energiedienstleistungsunternehmen.
| CEO Insider Trades (12 Mo.) | buying own stock |
|---|---|
| Employees | 1,700 |
| Headquarters | Midland, TX |
| Website | propetroservices.com |
| IPO Date | 17. Mar 2017 |
| Next Earnings | 29. Jul 2026 |
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.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 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.