ProPetro Holding Corp (PUMP)

Inventory 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
Cost of revenue (ttm) US$ in thousands 1,431,277 1,188,582 1,164,654 1,196,440 1,180,112 956,707 951,911 888,632 1,002,128 944,863 949,268 959,000 863,739 278,345 284,272 287,139 256,984 221,248 192,075 164,158
Inventory US$ in thousands 17,705 15,887 18,159 17,732 5,034 3,944 3,491 2,297 3,949 3,477 2,641 2,329 2,729 1,849 2,805 3,296 2,436 1,850 4,948 5,870
Inventory turnover 80.84 74.81 64.14 67.47 234.43 242.57 272.68 386.87 253.77 271.75 359.44 411.76 316.50 150.54 101.34 87.12 105.49 119.59 38.82 27.97

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,431,277K ÷ $17,705K
= 80.84

The inventory turnover of ProPetro Holding Corp has shown significant fluctuations over the past few periods. From Dec 31, 2019 to Dec 31, 2023, the inventory turnover ranged from a low of 27.97 to a high of 411.76. The trend indicates that the company's efficiency in managing its inventory has been volatile, with periods of high turnover followed by lower turnover rates.

A high inventory turnover ratio, such as 411.76 on Mar 31, 2021, suggests that the company is selling its inventory quickly, which can be a positive indicator of efficient inventory management and strong sales. On the other hand, a low ratio, such as 27.97 on Sep 30, 2019, may indicate slow inventory movement, potentially leading to excess or obsolete inventory.

Overall, it is important for ProPetro Holding Corp to monitor its inventory turnover consistently and work towards maintaining a balance to ensure optimal utilization of resources and profitability.


Peer comparison

Dec 31, 2023

Dec 31, 2023