ProPetro Holding Corp (PUMP)
Pretax margin
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 | ||
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Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 115,502 | 153,423 | 120,826 | 28,522 | 7,387 | -35,020 | -54,166 | -25,445 | -68,437 | -102,097 | -132,652 | -152,824 | -134,499 | -49,329 | 34,309 | 113,094 | 213,504 | 251,874 | 265,014 | 269,752 |
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 |
Pretax margin | 7.08% | 9.13% | 7.60% | 1.94% | 0.55% | -3.02% | -5.02% | -2.59% | -7.93% | -13.23% | -20.32% | -28.22% | -17.53% | -4.71% | 2.36% | 6.03% | 10.53% | 12.48% | 13.87% | 14.66% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $115,502K ÷ $1,632,321K
= 7.08%
The pretax margin of ProPetro Holding Corp has fluctuated over the past five years, ranging from negative figures to double-digit percentages. The company's pretax margin increased steadily from the negative territory in early 2020 to reach a peak of 14.66% in the fourth quarter of 2019. Subsequently, the margin declined in 2020 but showed signs of recovery by the end of the year. The trend continued to improve in 2021, with positive pretax margins achieved throughout the year. However, in 2022 and 2023, the pretax margin demonstrated some volatility, with fluctuations between positive and negative values. Overall, the company has shown resilience in improving its pretax margin, although it remains subject to variability in performance across different quarters.
Peer comparison
Dec 31, 2023