ProPetro Holding Corp (PUMP)

Total 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
Total assets US$ in thousands 1,480,310 1,472,220 1,433,380 1,394,150 1,335,790 1,143,610 1,335,790 1,084,450 1,061,240 1,098,750 1,066,790 1,044,780 1,050,740 1,050,740 1,050,740 1,050,740 1,436,110 1,436,110 1,436,110 1,409,000
Total asset turnover 1.10 1.14 1.11 1.06 1.00 1.01 0.81 0.91 0.81 0.70 0.61 0.52 0.73 1.00 1.38 1.79 1.41 1.41 1.33 1.31

December 31, 2023 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,632,321K ÷ $1,480,310K
= 1.10

ProPetro Holding Corp's total asset turnover has shown some fluctuation over the past five years. The ratio indicates how efficiently the company is using its assets to generate revenue. A total asset turnover ratio of 1.00 or higher is generally considered favorable, as it implies that the company is effectively utilizing its assets.

The total asset turnover for ProPetro has generally trended upwards from 2019 to 2023, with some variations in performance quarter to quarter. The ratio was 1.31 in the first quarter of 2019 and saw some fluctuations before reaching a peak of 1.79 in the first quarter of 2020.

However, there was a notable decline in the ratio in the second and third quarters of 2020, with values of 1.00 and 0.81, respectively. The ratio improved in the fourth quarter of 2020 and continued to increase throughout 2021 and 2022, reaching a peak of 1.14 in the third quarter of 2023.

The company's ability to generate revenue from its assets has shown improvement overall, with the total asset turnover ratio consistently above 1.00 in recent quarters. This suggests that ProPetro Holding Corp has been effectively utilizing its assets to generate sales and revenue.


Peer comparison

Dec 31, 2023