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