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