ProPetro Holding Corp (PUMP)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	1,444,286	1,471,508	1,534,444	1,612,672	1,630,399	1,631,548	1,540,758	1,420,592	1,279,702	1,176,847	1,093,932	995,736	874,514	782,788	666,399	555,621	828,956	1,109,405	1,517,542	1,940,927
Total current assets	US$ in thousands	292,221	306,821	327,147	360,036	310,809	349,999	347,124	368,693	328,785	300,241	259,001	250,828	251,064	242,939	217,134	176,441	167,726	157,073	111,829	375,591
Total current liabilities	US$ in thousands	222,266	254,852	295,544	303,984	271,149	273,821	276,294	304,479	284,180	253,817	193,658	172,091	173,785	192,042	156,777	128,459	104,163	96,267	59,269	232,966
Working capital turnover		20.65	28.32	48.55	28.77	41.11	21.42	21.75	22.12	28.69	25.35	16.74	12.65	11.32	15.38	11.04	11.58	13.04	18.24	28.87	13.61

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,444,286K ÷ ($292,221K – $222,266K)
= 20.65

ProPetro Holding Corp's working capital turnover has shown fluctuations over the periods analyzed. The company's working capital turnover ranged from a low of 11.04 to a high of 48.55, with an average of approximately 21.19 over the data points.

The working capital turnover indicates how efficiently the company is managing its working capital to generate sales revenue. A higher turnover ratio suggests that the company is effectively utilizing its working capital to generate revenue. Conversely, a lower ratio may indicate inefficiency in managing working capital resources.

ProPetro Holding Corp's working capital turnover experienced significant fluctuations, showing instances of both improvement and deterioration in working capital efficiency over the periods analyzed. It would be important for stakeholders to monitor this ratio regularly to assess the company's working capital management practices.