ProPetro Holding Corp (PUMP)

Fixed asset turnover

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Revenue (ttm) US$ in thousands 1,632,321 1,680,827 1,590,769 1,471,214 1,336,820 1,159,290 1,079,169 981,483 863,284 771,558 652,875 541,465 767,169 1,047,619 1,454,144 1,876,294 2,027,408 2,018,028 1,910,491 1,840,680
Property, plant and equipment US$ in thousands 967,116 991,593 1,001,110 941,200 922,735 841,513 806,513 831,625 808,494 853,928 847,512 866,050 880,477 936,283 978,749 1,018,660 1,047,540 1,050,040 1,038,560 945,089
Fixed asset turnover 1.69 1.70 1.59 1.56 1.45 1.38 1.34 1.18 1.07 0.90 0.77 0.63 0.87 1.12 1.49 1.84 1.94 1.92 1.84 1.95

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,632,321K ÷ $967,116K
= 1.69

The fixed asset turnover ratio of ProPetro Holding Corp has fluctuated over the past few years, ranging from 0.63 in March 2021 to 1.94 in March 2020. This ratio indicates how well the company is utilizing its fixed assets to generate revenue.

The trend shows an improvement in the ratio from 2021, reaching a peak of 1.94 in March 2020 before declining to 0.77 in June 2021, likely due to changes in the company's operations or capital investments.

From March 2020 to December 2020, the ratio increased steadily, suggesting that ProPetro Holding Corp became more efficient in generating revenue from its fixed assets during that period.

Overall, the company's fixed asset turnover has shown variability, and further analysis is needed to understand the factors driving these fluctuations and assess the company's long-term operational efficiency.


Peer comparison

Dec 31, 2023