ProPetro Holding Corp (PUMP)

Cash ratio

		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
Cash and cash equivalents	US$ in thousands	50,443	46,566	66,886	46,458	33,354	54,330	62,113	44,793	88,862	43,208	69,789	70,768	111,918	84,601	72,701	55,859	68,772	54,255	37,306	149,036
Short-term investments	US$ in thousands	7,849	7,405	7,797	7,143	7,745	8,163	6,437	6,489	10,283	8,503	—	—	—	—	—	—	—	—	—	—
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
Cash ratio		0.26	0.21	0.25	0.18	0.15	0.23	0.25	0.17	0.35	0.20	0.36	0.41	0.64	0.44	0.46	0.43	0.66	0.56	0.63	0.64

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($50,443K + $7,849K) ÷ $222,266K
= 0.26

The cash ratio of ProPetro Holding Corp has shown fluctuations over the analyzed period. The ratio, which measures the company's ability to cover its current liabilities with its cash and cash equivalents, started at 0.64 as of March 31, 2020. It decreased slightly to 0.63 by June 30, 2020, and further declined to 0.56 by September 30, 2020.

However, the company's cash ratio improved to 0.66 by December 31, 2020, reaching its highest point in the analyzed period. Subsequently, the ratio experienced a decline, dropping to 0.43 by March 31, 2021, and then recovering slightly to 0.46 by June 30, 2021.

The trend of fluctuations continued, with the cash ratio varying between 0.44 and 0.64 up to December 31, 2021. From March 31, 2022, the cash ratio began to decline more significantly, reaching 0.20 by September 30, 2022.

There was a slight improvement in the cash ratio to 0.35 by December 31, 2022, before it decreased to 0.17 by March 31, 2023. Subsequently, the ratio saw some recovery, reaching 0.25 by June 30, 2023, and then 0.23 by September 30, 2023.

The downward trend continued as the cash ratio dropped to 0.15 by December 31, 2023. However, there was a slight increase to 0.18 by March 31, 2024, and further improvement to 0.25 by June 30, 2024.

In the most recent data point available, the cash ratio stood at 0.21 as of September 30, 2024. Overall, the fluctuating nature of the cash ratio indicates shifts in ProPetro's ability to cover its short-term obligations with its cash reserves over the analyzed period.