ProPetro Holding Corp (PUMP)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 115,502 | 7,386 | -68,437 | -134,500 | 213,504 |
| Revenue | US$ in thousands | 1,625,190 | 1,278,100 | 876,900 | 786,849 | 2,045,170 |
| Pretax margin | 7.11% | 0.58% | -7.80% | -17.09% | 10.44% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $115,502K ÷ $1,625,190K
= 7.11%
ProPetro Holding Corp's pretax margin has exhibited significant fluctuations over the past five years. The company experienced a notable improvement in its pretax margin in 2023, reaching 7.11%, representing a strong performance compared to the previous year. In 2022, the company's pretax margin was relatively low at 0.58%, indicating a potential struggle with profitability.
However, ProPetro faced challenges in 2021 and 2020, as indicated by negative pretax margins of -7.80% and -17.09%, respectively. These negative margins reflect that the company incurred losses before accounting for taxes in those years.
On a positive note, ProPetro performed well in 2019 with a pretax margin of 10.44%, signifying strong profitability during that period. Overall, the fluctuating pretax margins suggest that ProPetro has experienced varying levels of success in generating profits before taxes in recent years.
Peer comparison
Dec 31, 2023