ProPetro Holding Corp (PUMP)

Working capital 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 current assets US$ in thousands 310,809 349,999 347,124 368,693 328,785 300,241 259,001 250,828 251,064 242,939 217,134 176,441 167,726 157,073 111,829 377,962 375,591 392,728 417,967 449,655
Total current liabilities US$ in thousands 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 59,269 225,925 232,966 284,160 324,969 302,657
Working capital turnover 41.16 22.06 22.46 22.91 29.97 24.97 16.52 12.47 11.17 15.16 10.82 11.28 12.07 17.23 27.67 12.34 14.21 18.59 20.54 12.52

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $1,632,321K ÷ ($310,809K – $271,149K)
= 41.16

Working capital turnover is a financial ratio that measures how efficiently a company is able to generate revenue from its working capital. A higher working capital turnover ratio indicates that the company is effectively utilizing its current assets to support its operations and generate sales.

Based on the data provided for ProPetro Holding Corp, the working capital turnover ratio has shown fluctuations over the past few years. The ratio has ranged from a low of 10.82 to a high of 41.16. A peak ratio of 41.16 at Dec 31, 2023, suggests that the company was able to generate significant revenue relative to its working capital during that period.

However, the ratio has experienced variability throughout the periods, indicating fluctuations in the company's working capital efficiency. It is important for investors and analysts to further investigate the reasons behind these fluctuations to determine the underlying factors affecting the company's ability to efficiently utilize its working capital.

Overall, the trend of the working capital turnover ratio for ProPetro Holding Corp shows varying levels of efficiency in managing its current assets to generate revenue over the reported periods.


Peer comparison

Dec 31, 2023